Product Description
Debt Collectors are a vital part of the American Economy and here are the numbers to prove it. Debt collectors have a bad rap but debt collection is crucial to an efficient market economy. Total consumer bad debt costs every adult in the US $683 every year. For the average non-supervisory worker thats nearly 54 hours of work (before taxes) a year. Outstanding credit card debt is nearly three quarters of one trillion dollars. Total consumer debt, including home mortg... More >>
Starting a Collection Agency, How to make money collecting money Third Edition
{ 5 comments… read them below or add one }
Author and collections expert Michelle Dunn offers an A-Z seminar in this concise 180+ page book. The book discusses consumer collections, commercial collections, getting started, expected earnings for a collection agency, and much more. It also reveals the value of collections efforts to the economy overall.
If you’ve ever had the notion to put your entrepreneurial efforts toward a business that will make you money and stay in demand, “Starting a Collection Agency” can help you realize such a business from start to finish.
As a credit professional with over 25 years of industry experience and the owner of a collection agency that will celebrate it’s 100th anniversary in 2010, it would be easy for me, already knowing most of the information provided in “Starting a Collection Agency, How to make money collecting money”, to write this book off as basic, without depth. On the contrary. When I first entered the industry years ago, I had aspirations of starting my own business doing collection work. I searched everywhere for a “how to” book on on the subject but, unfortunately, could find none. If a book like this had existed then, I would have purchased it in a minute! For the novice, especially, this book is packed with helpful and necesssary information, laid out in a methodical, easy to follow format. The content covered includes everything from basic, first step ideas and suggestions to must know, legal dos and don’ts. The author also provides many helpful links throughout. Although a good read for anyone already in the industry, (I learned a few things myself) I would most certainly recommend this book to anyone interested in starting their own business in the collection industry.
Having brought several of Michelle’s books over the years I was excited to see the newest edition of Starting a Collection Agency, How to make money collecting money. While this provides the basic information needed to start up an agency, it also provides new information for the seasoned pro. This book while small in size is pack with ideas and new editions to this publication. I find myself going back to review it to make sure that I’m doing things right. Michelle is a wealth of knowledge in the field and knows how to present it in a way that’s easy to understand.
As in all of her works she comes right to the point in her classic writing style which is appreciated by the many people who use her works. Starting a Collection Agency, How to make money collecting money Third Edition, is just another of her common sense books on the subject. I consider this a “must” read for anyone who is not only starting out in the field, considering starting their own agency, presently working for an agency or the long time collection professional in the field. Michelle does it her way and her way has helped many of us in this line of work. Another fine piece by Michelle Dunn and one that should be on every collector’s book case.
Michelle Dunn’s book, Starting a Collection Agency, How to make money collecting money, provides the tools, strategies and knowledge to those considering opening an agency. Dunn’s book is easy to follow and outlines the steps necessary to begin that process. After reading this book, I have picked up some insightful ideas that we have implemented. I recommend this book to those considering to pursue and start a business in the collection industry.
Whenever somebody asks me for advice concerning their interest about acquiring or starting a collection agency (and it happens quite often,) I generally spend the next several hours doing all I can to dissuade them from taking a step that is sure to rock their world, and not necessarily in a good way.
This is a big, complicated, closely-watched and highly regulated industry. Hardly the place for a beginner. But if they can withstand my efforts to talk them out of this endeavor and still seem excited, I know they are a good candidate.
As a former collection agency owner, I already know firsthand much of what I read in this book. I have to say, though, that Michelle does an excellent job of taking all of the important first steps involved in entering this business and presents them in a way that even the most novice reader can get a good grasp of the task at hand.
If there is a downside, I would say that she is not emphatic enough about all that can go wrong if one is not adequately prepared for the enormity of this business.
Running a collection agency isn’t like running any other kind of business. It takes a thick skin, a quick wit, and a good head for business, marketing, numbers and regulations.
But if you have all of that, I would suggest arming yourself with Dunn’s book and enough time to not only absorb all it has to offer, but to follow it’s many leads to other resources – many of them very useful and free.
If you are serious about considering this business, buy the book. It delivers a great amount of solid experience for a nominal price.
You must log in to post a comment.