I Wish I Knew How To ———

Do you ever say this to yourself? Being the leader of a ARM company these days is a challenge and most great leaders look to others for advice. How are you getting your advice?

Presidents have cabinet members, pilots have co-pilots and air traffic controllers, doctors consult other doctors and in fact most hi stress positions have assistants or advisors. As a leader of a ARM company where are you getting your advice from?

First lets answer a more important question; what kind of advise do we need and who would be best positioned to have that knowledge and lend that advise? Well in the debt collection business the main questions seem to relate to either compliance, profits, technology, business development or staff development. So that means you need a very rounded and connected person to advise you on these topics. This is the power of Lighthouse Consulting and Phillip W. Duff it’s CEO, he knows the answers!

Lighthouse Consulting works with debt collection agencies, creditors, law firms, first party, early out, third party, debt buyers and debt settlement companies daily. The knowledge obtained by this diverse business is what we are selling and what our clients need most, solid advice. We have seen hundreds of ways to do the same task and we have learned what works and what does not. Often the answers are easy to describe but achieving the tasks seem unobtainable until someone says have you tried this?

Lighthouse has been providing its clients advice since 2001 and we can provide lots of references but here is a sample.

Phil has impressed me with his ability to listen to concerns and find a solution. His unique approach gets the desired result accomplished with effectiveness. Phil Stenger, Esq. 

We no longer waste time and money wondering what we are missing. There is a greater comfort level, increased excitement amongst our staff and a genuine sense of greater things to come. James B. Atkins, Esq.

Phil has the ability to understand a collection process, see its value and suggest an improved version of the process that can be more productive. Stuart Wolpoff

At Lighthouse Consulting we have seen and fixed every problem known to the ARM industry so why not take advantage of that history and knowledge. For more info on our services and costs call Phillip W. Duff at 904-687-1687 X 101

Lighthouse Consulting Provides An Advertising Opportunity

Lighthouse Consulting does marketing for many vendors and providers in the ARM space. We create websites, web marketing, content creation, ghost writing for things like blogs, social media management, remarketing, set up sales campaigns and much more.

If you are interested in getting your product in front of the decision makers then we are your platform for blast emails as Lighthouse has a loyal newsletter following that sends to well over 15K emails.

Lighthouse is offering ad space in it’s newsletter if you are interested in any of these services please contact Phillip W. Duff at phil@lighthouseconsultinginc.com or at 904-687-1687 X101

The one thing you can’t afford to do in todays environment .

Here is a quote from Steve McQueen in the Magnificent Seven

“You remind me of a guy who fell from the 10th story of a building, he was heard saying as he went by each floor.  “All good so far.“

Well maybe I gave that away to easy but yes the answer is be complacent or to do nothing. You cannot sit around waiting on anything anymore. Business cycles move at much higher rates due to the movement of information via the internet. If you sit still for a just one minute you have lost your space in line.

But I guess the real question is what should you be doing? Well thats a three part answer.

If you are an creditor, agency or law firm in the business of debt collection you need to first find cost reductions that do not reduce the service you provide to your client. Better labor at reduced costs, better technology, automation and improved processes.

Secondly you must find to create stickiness to your current client base. Give them more or give them something no-one else can or does. It is that level of service that will determine the stickiness you have with that client.

And that does not mean just meet or exceed their KPI’s, sometimes it means telling them their KPI”s are misaligned or too high to too low. Far to many companies are afraid to tell their clients how they think the money can best be recovered instead they work towards KPI’s that will NOT provide the best results.

Lastly you will need to find or create new business lines and new lines of revenue. You will have to step outside you box and look at things differently to get that perfect client base. You must look at business acquisition differently. Social Media and the internet are now how you will introduce yourself to the next prospect.

Lighthouse Consulting can help you do all of these. Yes even the marketing, actually we do lot’s of marketing and sales assistance in the ARM space.

When your management is spread too thin how do you manage them?

The majority of the management teams I meet today are just spread too thin. With reduced profits and increased workload created by compliance and regulations, today’s management teams are unable to be effective.

Many many companies have great management in place but they are unable to complete projects that are critical to the company’s growth. When meeting with today’s owners and their management teams while doing my consulting I find more and more really great teams are being stretched so thin that none of them are at 100% effectiveness. Every project is lacking the extra work it will take to create the GREAT results needed by today’s changing business environment.

Use better tools

I talk to the owners and they tell me all the wonderful initiatives that the company is undertaking, yet when I speak to the management team they just tell me how overworked they are and how they’re unable to keep up with all the projects on their plate. They are looking for help to get more done with less people.

As a consultant what I find is missing falls in the hands of the owner not the management team. What is missing it Is a clear plan to accomplish all of the task required or desired in a defined timeline. It’s not that everyone cannot  accomplish all of the tasks it’s that no one knows which one is most important or what needs to be done first or next. The owner must learn to prioritize and supervise their management team at a higher level in today’s complex environment.

In order to provide a clear plan to your team I am than using the same basic format for decades. An agenda. Yes just something that simple can help the group to prioritize and assign task in one simple location.

I use three sections in my agenda, new business, old business and parking lot.

Each item has someone of a group of people signed to it and timelines or milestones. A new agenda is created after each meeting or significant event in the project. Everyone involved is given the most updated version each time one is created even if they missed the event or meeting.

The answer is a clear communication of priorities and desires in a written fashion that is constantly updated and distributed. If your a CEO, department leader or manager learn this new trick today and get more done tomorrow.

The 3 Most Ask Questions About Agents in Jamaica

While I have been speaking to people regarding opportunities in Jamaica I have been getting the same three questions over and over so I thought I’d like explained them here.

The first question that is pondered is can you understand the agents? My answer is clearly yes. The first time I went to the island as an auditor for Bombardier Capital the language skills were very good along the call center workers yet there was a clear accent among other Islanders including resort workers.

Here is a link to a redacted call from a recent (August 2016) collection call from a Jamaican call center in Montego Bay. 

Over the last decade even those accents have diminished tremendously. I’ll tribute a large majority of this to the fact that the island started receiving Cable channels from the US and Canada about eight years ago. So they are watching the same channels you are in Fort Lauderdale, Chicago, Montréal, Los Angeles and Miami. This exposure to used car commercials and endless reruns of Seinfeld has changed their language skills and understanding of the US economy.

The second most ask question is do they have the infrastructure to handle my Technology needs. The answer to that has been yes for many years. Initially most of the infrastructure for call centers doing business on the island was created by the government in an area called the free zone. Nowadays the same infrastructure exist throughout the island but especially in Montego Bay and Kingston.

The final question everyone ask is is it safe? My answer is you’re just as say in Montego Bay as you are in Miami, Chicago, Los Angeles or most larger cities in the United States or the world. Jamaicans really want to be Americans therefore their attitudes towards foreigners are very positive. The Jamaican government makes sure there are only a limited amount of visas issued to the United States as it fears there might be mass exodus if borders were oped wide. I have traveled many places in the world and most places they do not like Americans, one of the reasons I have been traveling back to Jamaica over the last decade is the Jamaicans positive attitude towards Americans.