As a collection agency that works with small business, we are always in a discussion with our clients and others about how to increase profits. As you might imagine, when your business is owned money, and that money continues to be late, or doesn’t show up at all, your profits are going to suffer. Not only will your profits take a hit, but your cash flow and your ability to meet your own financial obligations. In short, it can cause a chain reaction in your business.
And while making sure your customers pay you on time is one of the best ways to keep your profits going in the right direction, there are other ways to ensure that your business is not running on fumes month after month. Continue reading “How can I increase my profits quickly?”
We bet if you turn your mattress over, clean out your car and check the laundry, you’ll be sure to find at least a few dollars. That’s a good start. And guess what, there are even more places that you can find lost and unclaimed money for both personal and business. And it might be more than just spare change.
Each year, there is an estimated $58 billion in unclaimed money in the United States. And there’s got to be a few bucks for you lying around somewhere.
For both individuals and families, there are countless sources of unclaimed money out there just waiting to be spoken for and if you do a little bit of homework and research, you may just find a piece of that pie.
Here we list the more common places to look as well as why a small business should also keep their eyes open for unclaimed money. Continue reading “Where Can I Find Unclaimed Money?”
For a business that has worked very hard to acquire a new customer and put additional resources into keeping that customer, the thought of having to send that customer to collections, often causes them to take a pause. For many in business, it’s a big step to have to take when it comes to having to use the services of a collection agency. The biggest fear? That business will lose that customer forever and they will tell others that you sent them to a debt collector. And, they still won’t get paid.
For many small businesses, it takes tremendous effort to acquire new customers and you do not want to have to get to the point where there is any bad vibes between the two of you. They asked you to perform a service and you have earned their trust. That’s a big step. And now they are a loyal customer. And of course, you enjoy the revenue. Continue reading “What happens when I turn over my customers to collections?”
You may be one of them but we find that there are many small businesses out there that do not even have a budget. And as a collection agency that works with small business, we find that kind of troubling. A budget can mean the difference between being profitable and, well, not making a profit. And we all know what happens when our business cannot turn a profit.
Having even a simple budget can make all the difference in the world. Your budget is essentially your roadmap for the year or a given period of time, as we are sure you are aware of. And while you might be aware of what a budget is, you still might not have one. Continue reading “Budget Basics for Small Business”
Let’s get right to the point here. Most consumers and others needing your product or service do not really care about how great you feel you are as a business. You may be all these things. You may be the best in the business or your industry and you might even have an endless list of referrals from others because people think so highly of you and your work. But there is really only one thing most care about when they think about using your company.
Can you do what I need you to do?
We are one of several collection agencies that work with small business around the country and what we quickly find out with a business that contacts us is that while they may have gotten a quick laugh from one of our blooper videos on YouTube, they are attracted to us ultimately because they feel we can do the job which is recover the money owed to them. By the way, we won’t stop having fun here at American Profit Recovery but we do understand that it is, in the end, our reputation as a reputable collection agency that gives a business comfort in hiring us. Continue reading “Are you solving problems or just telling people how great you are?”
There are endless reasons why a customer could be angry. And if you’ve spent any amount of time in business, you have no doubt had your share of customers that are not happy for one reason or another. Some customers get upset over minor issues or inconveniences while others don’t get angry until they’ve reached their boiling point. We’re sure you have experienced both.
Let’s point out something obvious right up front. We know a few things about upset consumers. We’re a collection agency. In a lot of situations, the people were are in contact with might not be thrilled about talking with us. However, in many cases they are, because we offer much needed help in resolving their financial situation. After a rough start sometimes, we end up amicably coming to an agreement about how both can resolve the matter together. As long as certain pieces come into play. Continue reading “How to work with angry customers”
When it comes right down to it, risk equals money in a small business. In fact, if you’re running a small business, that can be a risk in itself. Every day can present a challenge that can either help your business take off to a new level, or harm your business in some way. And hopefully your risk-taking takes you in the positive.
But it’s the risks we encounter daily that can cause a small business owner time, money and reputation. And it’s how you handle them that can make or break your profitability.
As a collection agency that works with small business, we hear countless stories from those in business about the ups and downs of their individual operations. From lawn care companies, contractors, veterinarians and even schools. And because we work extensively with dental and medical collections, we often hear the struggles of those medical practices as well. Continue reading “Are you paying attention to risks in your small business?”
We did it! We earned the number one spot on the 2018 Best Call Centers to Work For. We always knew American Profit Recovery was the best collection agency to start and build a career in the credit and collections industry, and now we have proof. We are clearly one of the best places to work in this industry and I might add, anywhere.
And before you move on and say to yourself, “big deal, they won another award” take a moment to listen why this is an important event.
There are a number of industries that over time, have a long history of receiving negative press coverage, have an unattractive perception from the public and have thought to be an undesirable place to work. The collection industry has long suffered all of these. While we will not deny the existence of those in our industry that don’t take these issues seriously, we have, from day one, made sure that the way we treat others takes precedence over everything else. That includes consumers and our staff. Continue reading “Number One Call Center in the Industry-Where Do We Go From Here?”
What does a collection agency know about customer service? More than you think.
If there are a few things that are overflowing here at American Profit Recovery, its respect, and a deep desire to help. That’s helping the business that hires us and their customer that owes them money. They both require our help and some might say, they are both our customer.
Since we are most often talking about helping a business, stay in business, and what we can do to help them, let’s focus on the consumer for a moment.
While in many cases, a consumer gets into our system because of an oversight or even a minor dispute, many times, they are facing financial challenges. And in a lot of cases, they don’t know where to turn. So they ignore both the business they owe the money to and the debt collector. It is our job to open the lines of communication as best we can. And we cannot do that by being rude, unreasonable or not understanding of their situation. We need to be great at customer service. Continue reading “Great customer service makes you different”
One thing we are very proud of here at American Profit Recovery is our educated team. No, not everyone has PhD here, but every one of our staff understands their job, the collection industry and their role in helping both business and consumer. If our team members are not off site keeping up to date on everything we need to understand in the collection industry, we are always reinforcing best practices here in our office. In fact, it’s a daily occurrence.
Education is part of our culture and that makes American Profit Recovery a great place to work and one of the best collection agencies for a small business to use.
Because we believe so much in education, our team participates in the annual Collector’s Challenge. Spearheaded by the ACA International Education Foundation, the Collectors Challenge helps raise funds to assist in the advance of education for those in or affiliated with the collection industry.
The Foundation offers the annual Loomer-Mortenson Scholarships as a result of funds raised through the annual Collectors Challenge held each April.
This year, our team raised over $1,500 for the Foundation. That brings our ten year total to over $17,000. And each year, we raise it by having fun in the office. We have fun here anyway but we bring up another level when we are raising money for great causes. Our team participated in putting contests, our March Madness brackets, and of course everyone pays to dress casual in the office.
New this year was our paper airplane contest. Team members could pay for a piece of card stock they then turned into a paper airplane. The airplane that went the most distance earned that staff member an Amazon gift card.
Stay tuned to our Facebook page and our blog to see where our team ends up next to raise money and help others.