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 michelle@michelledunn.com
Many people believe owning a franchise will make them rich,... Read More
It always amazes me when I see someone on television... Read More
One trait of franchisors and something you will find in... Read More
If you've ever received a service today and paid for... Read More
Buying into a franchise is a great way to be... Read More
As you have shown an interest in starting a business... Read More
If you have a business idea, or an idea for... Read More
When I ask why you don't start your own business,... Read More
It's very important to get your business name right. You... Read More
Many people are starting an online business without a thought... Read More
Whether you are just starting your business or focusing on... Read More
Successful entrepreneurs have many traits in common. Here are ten... Read More
So you had that fantastic business idea, the one that's... Read More
1. Do What You LOVE: If you've chosen your business... Read More
Running a one-person business is a creative, flexible and challenging... Read More
Q: I want to start my own business. I have... Read More
Business plans continue to be an essential element of the... Read More
Successful business owners and managers need to be very clear... Read More
With the growing number of franchise offerings recently it is... Read More
Lauren Rosenstadt was a single mom working at a herbcompany... Read More
Times are tough. The economy is in a constant state... Read More
Many of us slave away for years for one uninspiring... Read More
You don't have to be rock-star famous before you are... Read More
You've seen plenty of articles claiming to offer you the... Read More
In his book, The Road Ahead, Bill Gates of Microsoft... Read More
Recently my bank opened a new branch that is a... Read More
Having built a business from a bucket of water and... Read More
Most companies vastly underestimate the time commitment necessary to successfully... Read More
Would you like to find the key that unlocks the... Read More
I have worked in the credit industry for over 17... Read More
To morning commuters, the hulking truck encircled with barricades and... Read More
Q: I started my business about a year ago and... Read More
Ray Bradbury's quote, "You've got to jump off cliffs all... Read More
Why, exactly, do you want to go into business for... Read More
This morning I woke up at 4:30 in the morning,... Read More
Hair care has been around as long as humans have... Read More
Many people who set up as consultants never make more... Read More
I told my family that I finally accepted that my... Read More
There are a whole range of reasons why customers buy... Read More
Many people believe owning a franchise will make them rich,... Read More
As I awaken with the gift of yet another day... Read More
I hear it all the time. "What should I do... Read More
1. Why should I not compete with others?The very concept... Read More
Ray Bradbury's quote, "You've got to jump off cliffs all... Read More
Becoming a successful entrepreneur in the online world is no... Read More
Entrepreneurship is a great magnet to deliver new ideas, unique... Read More
Yesterday was a beautiful, sunny day in New York and... Read More
Cash is one of the most important resources to a... Read More
Starting your own private label clothing company is not as... Read More
Does anyone remember that book "Built to Last" done y... Read More
The "spark" for many entrepreneurs is seeing an opportunity that... Read More
Habits get a bum rap. When you think about your... Read More
If you are just starting a company and looking for... Read More
The following laws will provide guidance on how to act,think... Read More
In "The Incredible Hulk", mild-mannered scientist Bruce Banner discovered that... Read More
SUCCESSFUL Solo-Entrepreneurs approach life and business from a perspective that... Read More
It's very important to get your business name right. You... Read More
Are you ever frustrated or hesitant when you talk to... Read More
In his book, The Road Ahead, Bill Gates of Microsoft... Read More
You want to get a good, solid overview of what... Read More
One trait of franchisors and something you will find in... Read More
A streak dating back more than three decades came to... Read More
Hello Creative Entrepreneurs!Thought for the day:"It is not easy being... Read More
7 Financial Strategies for Transitioning from Salaried to SoloA 40's... Read More
What's a niche?Dictionary.com provides a great, twofold definition:"A situation or... Read More
As a first time entrepreneur, there are a variety of... Read More
Entrepreneur |