How A Woman Became A Successful Bill Collector In A Mans Industry And How You Can Too!
I have worked in the credit industry for over 17 years now. When I first started out, I only knew a very few women in the industry. That number has grown over the years, but not by much. Being a bill collector has always been categorized as a "man's industry".
When I was a Credit Manager for other companies I worked for, I always did a good job, and collected more money than any other collector who had my job before me. I loved the job, I loved the challenge, and I loved that I could physically "see" my results by watching the bottom line of bad debt diminish. I once made a chart to bring to my review to show my boss how much more money they had and how much less bad debt and bad credit risks they had because of my efforts. I got to the point that I could not make any more money at these companies, as I was at the top of my pay for that position. I was also always bored. Once I had the credit situation under control, I wiped out my own job! So I started writing credit policies for the companies I worked for.
I started my own collection agency in 1998, without ever having worked at a collection agency. My experience was working in credit and being a bill collector for other companies. I did work with collection agencies, by placing accounts with them, and found a local agency that was very helpful and would network with me rather than see me as competition. I was very happy for that help and guidance, since most people did not think I would be successful. They obviously don't know me very well.
I did take courses through Dun & Bradstreet and also read every law book on credit and debt collection I could get my hands on. I joined the American collectors Association and took advantage of everything they had to offer. I joined networking groups online and started my own networking group with a website www.credit-and-collections.com because I could not find a group or website in this field. Even though I have now sold M.A.D. Collection Agency, I maintain and moderate Credit & Collections and we have over 600 members.
I know that anyone can do anything they set their mind to. I did this because I wanted to be home for my children and have the flexibility to pick them up at school and go to school functions but still needed to support myself and my children. That will motivate you! If you have to keep working and get clients so you can buy groceries, you will.
No matter what you choose to do, if you are determined and keep learning, have drive and are motivated, as long as you are doing what you love and doing the best job you can do you will be successful. For me it just happened to be collecting money.
Any woman can do this job; you do need start up funds but not much. I started with a few thousand dollars and kept my day job until I had enough clients to quit. I then kept my day job as a client and did their collections as well. I started out doing everything manually, and then bought a computer; I still kept my files manually until I could purchase some low cost collection software. I did everything myself to save money, I learned marketing and sales and continues to educate myself on debt collection and new laws and changes in the industry every day. I know women who start this business at their dining room table. This is a hard job, and you have to be organized, have thick skin and be knowledgeable about collection laws and business in general. If you have kids at home you need to organize and make arrangements so you can make collection calls, be professional (without the dog barking in the background, or a child crying) and maintain your sanity when your kids are crying for your attention and the guy who just received your dunning notice calls you to explain to you that he wants to speak to the man in charge.
Michelle Dunn has over 17 years experience in Credit and Debt collection. She is the founder and president of Never Dunn Publishing, LLC, is a writer, publisher, consultant and the Editorial Advisor for Eli Financial Debt Collection Compliance Alert Newsletter. She owns and runs Credit & Collections.com an online community for credit and business professionals. She has been featured in Ladies Home Journal, PC World, Home Business Magazine, Home Business Journal, Entrepreneur, The Internet Web Source, Professional Collector, and in Home Based Business for Dummies, Shameless Marketing for Brazen Hussies, From the Home-Front The Simple guide to starting and Running a Home based business, she was a featured guest on (NPR) National Public Radio and has been in many newspapers nationwide. Visit http://www.michelledunn.com for more information on any of Michelle's books and services or email her at firstname.lastname@example.org
Is Running a Business for You?
Not everyone is cut out to run a business. Not everyone is cut out to be an entrepreneur. It takes a special talent. Some owners of small businesses have it and some don't.
Can a Microbusiness Help You Enjoy a Better Retirement?
Not having enough money for a comfortable retirement tops thelist of financial concerns among aging Americans, according to a recent Gallup Poll. It even outweighs peoples' worries about having a serious illness or accident.
What Qualities Do Franchisors Need?
When I got into business I wanted to build a company, which helped people and provide a product and service that people loved and were willing to pay for; one I would not have to sell or convince anyone of. Something that people truly wanted to extend and enhance their pursuit of happiness. I found the perfect service that everyone wanted and where sales were not really needed at all. In addition I found a way to allow my team to reap the rewards of delivery of that service to the masses.
Think - Dont React
How you think, your relationship with yourself is what decides how well you communicate with your customers and relate to your team.
Why Most CEOs & Entrepreneurs Fail?
Times are tough. The economy is in a constant state ofupheaval. Is your company doing better than most? Are youplacing greater emphasis on pure performance?
5 TIPS for Home-Based Business Entrepreneurs
Have you ever heard that only a small part (5%) of 'all' Home-Based Business entrepreneurs achieve success?
How to Be an Entrepreneur and Keep Your Sanity
Define for yourself what an Entrepreneur is:
Securing Second and Third-round Venture Capital Financing
Widget sales are booming ? the competition is scrambling, demand is up, and the books are finally treading water. Your core management team has big ideas for the future of Widget Inc. Opportunity is abundant; but how will you fund that next big leap?
Franchises - Emotional Fulfillment - The Challenge
Does A Franchise Meet Your Needs?
Needs Versus Wants For Entrepreneurs
How often do the words "I need" come out of your mouth, as it relates to your business? When you run your own company, it's easy to think that the only way to succeed is to be moving forward with your expenses -- the newest technology, a broader circle of professionals providing you services, involvement in more and more costly marketing efforts, etc. And it's particularly difficult to resist the urge when you know you can generally take a tax DEDUCTION for any business expenses. But did you ever stop to think how many of those requests are actually needs, and how many are simply wants?
Go Slow to Go Fast - Why Over 80% Of High Tech Startups Fail And What To Do About It
With billions of dollars of venture capital residing down the street on Sand Hill Road, two Stanford professors are attempting to answer a fundamental question "why does it always take longer and cost more to build a hi-tech company than anyone ever expects?" For all the intellect, experience and graduate degrees in the venture capital industry, the sad truth is that 80% of venture capital investments do not pan out. While the reasons for this high attrition rate are too numerous to list here, a simple fact defines every successful investment - the company figures out how to bring in more money than it spends. The secret to solving this fundamental equation these two professors believe lies in the Sales Learning Curve.
Entrepreneurship Story; Over Regulation in Franchising Part I
Jim and Sally run a successful auto business, which they have built up over two decades and have expanded to three stores and many of their friends keep saying, "You should Franchise." They think about this for about five years read a few books, like "Franchising for Dummies," The "E-Myth", "The Franchising Bible" and many others on the shelves of the new big book store in town with the coffee shop inside. They finally decide that it makes sense especially as they have friends and loyal employees who wish to be associated with them and even own the first franchises. So they set out to franchise. They visit an attorney since that says in all the books to do. Most books about franchising are, at least in part if not whole, written by S2D2s (lawyers: S2P2s; Self-Serving Parasites of Planet) anyway, so they take that advice and visit an attorney. The S2D2 explains the MUD and helps by charging them a good chunk of change; $35,000 to prepare a boilerplate document which is so complicated they could not do it on their own without years of study. They give the S2D2 (scoundrel) the money and they look at the document and start asking questions. They do not ask him about the price gouging laws that their state has after all the flooding from the remnants of Hurricane Ivan, although they feel severally violated in the outrageous costs to prepare the documents. After all there is some new shop equipment they need to test cars to stay in compliance with the latest smog certificates and they are not cheap either. So they ask some typical questions instead of why they had to pay so much.
Empathy - Not Business Plans - Key to Your Home Based Business Success - Do You Have Empathy?
EMPATHY is a Natural Talent, you were born with it and you will never loose it. It can be a blessing or a curse in a home based business. If you develop it, it can make you a Millionaire. Mary Kay, of Mary Kay cosmetics, did just that. If you have it, it is your most important key to a successful home based business. Business plans, cash flow projections, marketing analysis, etc. are skills that are needed in a home based business, but they can be learned from a workshops, courses or books. Your Natural Talent is what gives you the competitive edge.
What It Takes To be An Entrepreneur Series: Action
Many people have the professed desire to be their own boss, start their own business ecetera, ecetera...
Entrepreneurial Ongoing Education Advice
I would like to give some advice to all the up and coming entrepreneurs; if you really want to be a superstar not only do you have to work harder and smarter than the competition, but you must always keep learning. I built a company from a bucket of water and a sponge into a National Car Wash Franchise System in 23 states. To do this you need to know more than what they taught you in school and you can never turn off your brain. Every person is different and has different interests. But I would like you to read thru my recommended reading list. This is a list I hand out to MBA and Entrepreneurial Students when I give speeches. It is a list of recommended book, biography, audio tapes and movies.
Evaluating an Opportunity
Business opportunities are often based on broad trends, such as:
Near-death Experience is the Mother of Invention for Two Dallas Electricians
To morning commuters, the hulking truck encircled with barricades and traffic cones may be nothing more than a road-clogging nuisance.
The Desire For Money, Do You Have Business Sense?
For those of us who grew up with parents who worked for businesses rather than owned them, the world of business can be quite a mystery. Even more so if we've dared to try to start one of our own. There is the factor of what type of business to start - a product or service business. There are the issues of doing a good market analysis, licensing the business, understanding the codes of law governing businesses, and determining just what type of business structure to choose - especially if the business will have employees. For example, should we start a sole proprietorship or a corporate business? It's a lot to work on, and it's not an overnight process to the road of success. But, the most crucial challenge to whether a business succeeds or fails lies deep within the realm of emotional versus financial intelligence.
Business Planning Overview
The successful entrepreneur is generally more inclined, once a business idea is selected, to sharpen the concept by a detailed planning process. The result of this step is a comprehensive business plan, with its major components being the marketing "mix," the strategic plan, operational and logistical structures, and the financial proposal. The purpose of the business plan is to recognize and define a business opportunity, describe how that opportunity will be seized by the management team, and to demonstrate that the business is feasible and worth the effort.
Time Management Tips for Solo Entrepreneurs
Does it seem like everyone and everything is vying for yourattention all at once? It can be hard for solo entrepreneursto know what to do first, let alone try to find the time to get caught up. Here are some time management tips that will help youto stay on top of it all:
|© Athifea Distribution LLC - 2013|