- August 31, 2015
- Posted by: Phillip W. Duff
- Categories: Agencies, Compliance, Mergers and Acquisitions, Opinions
Have you gone to a conference or looked at industry publications and see that a competitor and just another entity in the industry seems to be in a growth mode while you are just trying to pay the bills?
So what are they doing that you are not doing? Well first lest explore what you are doing, I guess that your waiting and hoping, but that will never get you more clients, automated processes, compliance or increased profits.
The people who are succeeding are constantly reinventing themselves! Yes thats the secret they are willing to invest in change and in fact embrace it. I entered this industry in a similar time in the debt collections history right after a big legal decision that changed the industry forever, the FDCPA! And many agencies were just in shock for a few years and just waited for someone to better define the law and its repercussions. Others decided to figure out to collect money within the constraints stated in the new very restrictive law. The FDCPA was a much bigger shock that the recent FCC ruling regarding TCPA but we have all learned to work within its borders and in fact embrace the restrictions and its ability to help police the industry.
So back to reinventing yourself, how do you do this and more over how do you do it every month, month after month? Well first its a mentality to be proactive not reactive. Secondly its a constant battle to get and assimilate info and current trends in the industry which takes many people to do. This may require info from your council, collections gurus, consultants, vendors and industry leaders. The people who are growing are using every resource available to them to foresee and prepare for industry changes. They do not look at the changes as something personal or aimed at their business they look at them as hurdles that must be overcome while maintaining profits and company standards.
If you desire to get help to reinvent your company or management style call me at 904-687-1687.