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Competency Based Interviews - 6 Steps to Success!
More and more organisations are using a competency based framework for interviewing. Here are 6 steps to help you make the best impression - and get the job! Competency based interviews are intended to get the best from you, the candidate, whilst...
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Building Performance Trust
You can have outstanding ideas, yet never leverage them into winning at working results. That's because the secret behind those ideas lies in performance. Yours. Getting the okay to pursue your idea is directly related to the level of confidence...
Executive Coaching and Effective Learning
We’ve all been through training events—workshops, seminars, and courses that didn’t affect our behavior as much as we would have preferred. And while each provides valuable information and tools for increased productivity, most of us also...
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Ten careers for high school seniors who hate school
Let’s face it…not everybody likes going to school and high school can be a terrible experience for many students. Whether you’re the hands on type who preferred Shop class to English class, or an athlete who liked working as a team more than...
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SHOULD I START MY OWN COLLECTION AGENCY?
If you are wondering if you should or can open your own collection agency, the answer is yes, you can! There are some things you should do before opening your own agency. You should have experience in the collection industry. You must know what type of business the collection business is before you can understand what you are getting into. You need to know the day-to-day activities of collections. You need to know the laws in the state you are in and the states you will be collecting in. You want to have experience dealing with people and negotiation skills.
You should also be ready to spend a lot of time getting people interested in your business. If you have worked in the industry for other people, new clients will know you have experience and be more comfortable placing accounts with you. If you don’t have any experience, you need to build credibility so potential clients will know you can do the job and do it well.
Write a business plan. If you are going to borrow money to start your agency you will need a business plan to show the
bank. Usually a business plan is made up of:
An Executive Summary
A Business description
Marketing Strategies
Competitive analysis
Operations and management plans
Financial statements.
I have an example of a Business Plan and a Marketing Plan in my book, How to make money collecting money, Starting a Collection Agency. You should also include a cover or folder for your business plan. Include a title page and a table of contents. This will be very professional and impress any bank you may present it to.
You should LOVE collection work. You either love it or hate it! If you love it, you will be passionate about making your business work.
About the Author
Michelle Dunn is the Author of the FREE e-book How to Help You Get Paid, Credit & Collection Forms and Letters. She has also written and published How to Make Money Collecting Money, Starting a Collection Agency that is available from www.michelledunn.com. For more information on Starting a Collection Agency, order her book for immediate delivery.
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