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Planning To Get Rich With Your Internet Business?
The web is a great opportunities. Imagine millions of customer. Its a huge cybermarket ! It's a trillion millions dollars market waiting for you !
Let's face it everyone wants to succeed with their internet business ? Iv been in business...
Selling To Your Difficult Person
We all have people whom we find difficult. We don't understand them, connect with them, or even talk comfortably with them. But, when we own a one person business, seeing someone as difficult gets in the way of our selling effectively and their...
Submitting Your Site to Search Directories
Getting your site listed in the search engines directories can be a time-consuming and complicated process. But, with a little effort, research and patience it can be done.
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Time Management Tips for Managers
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Small Business Collection Agencies Get You Paid
If you're like many small business owners, the mountain of debt you accumulated during startup might have been enough to make you worry about collection agencies every time you answered the phone. But your feelings toward collection agencies are eventually going to change, if they haven’t already.
Small Business Collection Agency Services: More Benefits than Costs
Small business collection agency services will certainly cost more than just writing letters demanding your money back. But the amount of money you’ll collect, not to mention the time you’ll save, will more than pay it back. In fact, when you consider the hourly rate of your employees, or you yourself, collection agencies’ fees really can be quite a bargain.
Let’s say you have an assistant your business pays $10/hour, effectively costing your business $15/hour once you count in employment taxes, benefits, and the overhead of your office. You would be lucky if that assistant spent just five hours total on each debt, and managed to collect half of them.
But you would have sunk $150 into each successful
collection. Plus, there’s the opportunity cost: $150 worth of time you haven’t spent in growing your business. So the net loss is $300, and probably more if you’re a profitable business that gets a good return on your people’s time.
But if you refer your delinquent debts to a collection agency for $75 each, and they collect three-quarters of them, you’ve invested only $100 per debt collected. Once you factor in all the money from all the debts the agency collected for you that you couldn’t have collected on your own, the return on investment is huge. That’s not even counting the saved opportunity cost, or all the stress you’ll save yourself and your associates.
In the end, your small business has to focus on doing what brings in the money: your core business. Leave your taxes to your accountant, your office repairs to your building manager, and your collections to your small business collection agency.
About the Author
Joel Walsh writes for Collection Agency Information:collection agency
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