SimplicityCollectionSoftware

NOVEMBER 18, 2013

In a previous article we discuss the various types of ways that you can successfully make money in the collection industry. In this article we will talk about the pros and cons of 3 rd party debt collection and purchasing your own debt to collect on. Collecting for a 3 rd party – this involves finding a business or businesses that need help collecting their debt.

Collections 40

Collections Debt collector Debtor Judgment 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

As in any industry, understanding your competition is essential to the success of your collection business. If you are collecting debt for 3 rd party entities, it is vital that you understand what others in your industry and area are doing to be successful. Each demographic area has its own set of challenges. Even though debtors are wide-spread, the area in which you live can have a huge impact on how successful you can be at collecting debt.

Collection Agencies 40

Collection Agencies Collections Agency Debtor Collections 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

One of the top reasons why businesses fail in the first few years is due to the fact that they were not set up correctly to begin with. If you are setting up your collection business with a business partner, make sure you have your business agreement, exit strategy, and legal documents set up prior to opening your doors. I don’t care who you are, MONEY CHANGES PEOPLE.

Collection Agencies 40

Collection Agencies Collections Agency Collections 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

The answer to this question varies depending on your personality and business experience. I have always been under the philosophy that you find good, honest people, and surround yourself with those people. You may have pay a little more for those types of people, but they will save you mounds of headaches in the long run. Ask yourself how you would like to be managed, and then devise a way that would suffice your philosophies and beliefs.

Collections 40

Collections 40

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

SimplicityCollectionSoftware

NOVEMBER 18, 2013

This again comes back to the question of whether you are collecting your own debt or collecting for others. Obviously if you have others that are referring business to you, your primary target for advertising would be other business who will also refer business to you. One of the easiest ways to do this is to establish a website. When developing a website you need to establish a brand and a purpose for your site.

Collections 40

Collections 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

As in any industry, understanding your competition is essential to the success of your collection business. If you are collecting debt for 3 rd party entities, it is vital that you understand what others in your industry and area are doing to be successful. Each demographic area has its own set of challenges. Even though debtors are wide-spread, the area in which you live can have a huge impact on how successful you can be at collecting debt.

Collection Agencies 40

Collection Agencies Collections Agency Debtor Collections 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

One of the top reasons why businesses fail in the first few years is due to the fact that they were not set up correctly to begin with. If you are setting up your collection business with a business partner, make sure you have your business agreement, exit strategy, and legal documents set up prior to opening your doors. I don’t care who you are, MONEY CHANGES PEOPLE.

Collection Agencies 40

Collection Agencies Collections Agency Collections 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

The answer to this question varies depending on your personality and business experience. I have always been under the philosophy that you find good, honest people, and surround yourself with those people. You may have pay a little more for those types of people, but they will save you mounds of headaches in the long run. Ask yourself how you would like to be managed, and then devise a way that would suffice your philosophies and beliefs.

Collections 40

Collections 40

SimplicityCollectionSoftware

NOVEMBER 18, 2013

This again comes back to the question of whether you are collecting your own debt or collecting for others. Obviously if you have others that are referring business to you, your primary target for advertising would be other business who will also refer business to you. One of the easiest ways to do this is to establish a website. When developing a website you need to establish a brand and a purpose for your site.

Collections 40

Collections 40

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

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