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?”
By Mike Hiller:
I’m a foodie so when I hear ‘Eat something that frightens you,’ the words get committed to my long-term memory bank. Must have happened across this advice from the radio or I read it in a paperback book maybe. Can’t say that public speaking, or confined spaces, heights, or things that go bump in the night, or even spiders scare me all that much. Killed plenty of creepy crawlies in the name of machismo; let a few go in the name of feminism too. You’ve seen tarantulas for sale at exotic stores as pets. Many of their various species are in fact quite docile. Continue reading “Eat something that frightens you”
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”
A common misconception of debt collectors is that they are all mean, tough, and demand money immediately. While that could be true for some places, most often the goal of a debt collector is to help consumers find a way out of their debt, while also helping businesses to stay afloat, and stay out of debt. I believe what sets American Profit Recovery apart from other collection agencies, is the customer service that we present to all parties involved in the collections process, and the care given to each consumer we are working with. Continue reading “A Common Misconception”
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?”
It’s that time of year! We’re almost to the start of the upcoming pro football season! So, I am watching every report from my team’s training camp, paying close attention to all the roster moves, and pretending that it doesn’t bother me that the experts think my team is going to be pretty bad this year. Anyway, I’ve also been watching all the behind-the scenes shows about mine and other team’s training camps, and interestingly enough I’m seeing a lot of similarities in the way these teams operate compared to how we work here at American Profit Recovery. Many of these teams talk about the “culture” of their team, and so much of that seems to include our core values – Positive Attitude/Integrity/Work Ethic.
Positive Attitude in football is about not letting a bad play get you to give up or abandon your game plan. For us, positive attitude is about focusing on how we can help a consumer find ways to pay their just debts, and not on how we cannot.
Integrity in football is about studying your playbook, watching film, and making sure you are fully prepared to do your job on game day. For a reputable debt collector, it includes putting a priority on compliance, taking the time to understand what type of assistance a consumer needs to in order to resolve their debt, and working in the best interests of the consumer, our clients, our co-workers, and our industry.
Work Ethic in football is all about practicing like you play. Putting in time in the weight room, and playing a full 60 minutes every game. For our collectors, it is all about paying attention to details, making yourself available to speak to consumers after normal business hours, and getting as much productivity out of yourself during a work day.
It’s no surprise to see that the players who commit themselves to their team’s culture and core values are the ones who see the most playing time. Not surprisingly, they are also the players their teams depends upon the most. The same rings true at American Profit Recovery. The collectors who commit themselves to doing all the things necessary to be the best they can be are our leaders. Not just in dollars collected, but in maintaining our high standards of compliance, customer service, and teamwork. It is yet another example of the successful culture we have created here at American Profit Recovery, and why I’m so proud to be a part of THIS team.
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”
Up 50% since 2015, nearly 52 percent of the world’s population (3.8 billion individuals) are now online. That’s great progress and opens up a whole host of opportunities for everyone online to experience the many benefits of being online.
But as you well know, there are still many security issues that go along with using the internet. We have in this country gotten used to online banking and shopping, and some even post things to social media that can give hackers an edge. And many of us don’t even know it. That along with passwords that should not be passwords, and we have opened ourselves up to the potential to have security issues with our data.
The United States is constantly under a barrage of attacks from foreign actors.
- Verified 2018. Russian hackers attack US power grids.
- Verified 2018. Iranian hackers attack more than 140 US universities.
- Verified 2017. China hackers attack the US Office of Personnel Management (OPM) exposing records of over 22 million federal employees.
- Organizations are constantly threatened by malicious actors.
- Adobe had 38 million records stolen.
- Home Depot had 56 million consumer records exposed.
- Uber has 57 million users and 600,000 driver records compromised.
- JP Morgan Chase (The largest US bank) had the information from over 76 million households and over 7 million companies compromised through a data breach.
- PlayStation had 77 million consumer accounts breached.
- Anthem, the second largest insurance company in the US, had 78.8 million current (and former) customer records exposed.
- TJX Companies had 94 million credit cards stolen.
Continue reading “Cyber-fare”