The Collection Advisor

Debt Collection Tips for Startups: 4 Steps Entrepreneurs Must Take to Survive

Posted by Brian Summerfelt on Jul 9, 2018 7:17:18 AM

Entrepreneurs are some of the bravest people in the world. They strike out on their own and stake their livelihood on a dream in a world of unprecedented competitiveness, knowing full well their chances of failure are exceedingly high.

And when it comes to collecting debt, most startup owners are ill-prepared for what awaits them. Vendors are reluctant to grant credit to startups lacking a history, and customers can take advantage of your inexperience or lack of confidence, paying your bills after higher-priority ones with established partners. It's a double-whammy many entrepreneurs never see coming.

Here are four steps every entrepreneur should take to improve their startup business’s probability of surviving those critical early years:

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Topics: Business Strategy, Collections

Customers Not Paying? Take These 4 Breakthrough Steps Right Now!

Posted by Brian Summerfelt on Apr 9, 2018 10:46:55 AM

Cash flow is oxygen to business. When it gets suppressed, the consequences can be severe—even catastrophic.

That’s why one or two non-paying customers can be enough to keep a business owner awake at night. I’ve seen plenty of organizations fail because of bad debt that could have been collected by following these four breakthrough steps:

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Topics: Insider Debt Collection Tips, Collections

The 4 People Who Don’t Pay Your Bills (And How to Deal With Them)

Posted by Brian Summerfelt on Jun 26, 2017 2:51:38 PM

It’s like déjà vu. Once you’ve been in business a while, you notice things repeating.

Certain cycles, similarities and repetitive elements appear. Similar patterns play out time and time again. It’s why experience is so valuable, if you utilize it well.

And when you analyze the situations where debt goes bad, you are likely to recognize it’s seldom completely unique cases, but often eerily similar ones that result in serious debt collection issues. In many ways, it’s as if the same four problem customers come back to haunt you, again and again, wearing different clothes.

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Topics: Commercial Collection Agency, Collections

Turning an Account Over to Collections Just Got Super Easy

Posted by Brian Summerfelt on Apr 18, 2017 2:15:58 PM

Paperwork is a pain.

It’s time-consuming, mundane, and a distraction from other things that need to get done.

So it fuels the procrastination that stops you from sending accounts to collections, and thereby increases the amount of bad debt you take on.

Until now.

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Topics: Commercial Collection Agency, Consumer Debt Collection, Collections

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