Collector - June 2017 - 37
ready to commit, and he meant it. Together
we took the company to over 100 full-time
employees and more than $1 billion in sales
in just eight years. He was willing and able
to make the necessary commitments, both
in capital investment and culture change. He
turned his back on conventional approaches,
marshaled adequate resources and committed
to real growth.
Success means superiority, but superiority
is relative. It's necessary to answer the
question: "What is the allowable limit of
resources I am willing to commit?" If you
are truly determined to win, there is no
upper limit. Of course, this does not mean
recklessly squandering your resources.
It means approaching sales the way you
approach collections. What are you willing
to invest to be the best?
MAKE TIME YOUR ALLY
To become rapidly effective and efficient,
you must stay ahead of your opponent.
When you employ "insight selling" in a way
that clearly demonstrates a higher level of
professionalism to buyers, the results will
follow-and your competitors will have to
play catch-up. And in the meantime, those
relationships are now yours.
Achieving this advantage means getting
started before your competitor does.
"Collections" is an even playing field.
Everyone has access to the same technology
and has to play by the same rules. The best
place you can truly distinguish yourself is
through sales and service.
When prospects engage with empathetic,
knowledgeable salespeople (instead of
canned-pitch salespeople), their response is:
"Now these are the kind of people I want to
do business with." And then you win.
The beauty is it feeds on itself.
Your salespeople get a reputation for
professionalism that sets the gold standard
for your markets. That becomes viral and
more buyers become willing to take their
calls. Building this more professional sales
approach gets you ahead of your competitors
and essentially takes them unawares.
EVERYONE MUST PROFIT
Think about providing opportunities for
everyone to win, and rewarding not just
with material assets but also internal
Here's a story: Two agencies of comparable
size in different parts of the country ran
parallel tracks, in that both had a salesperson
who won a major government contract that
was complex and difficult to win. Winning
these contracts required a great deal of
the salesperson over and above writing
a compelling bid that distinguished the
company from its competition-many of
which were excellent agencies.
This was a big win for Agency A, which
soon after called a mandatory, companywide meeting. The management team
surprised the salesperson by bringing his
wife and sons to the meeting as well. In
front of everyone, the owners explained
how difficult this win was, how tough
the competition was and how much that
contract was going to mean to everyone in
the company. They gave the salesperson a
beautiful recognition plaque.
Then they turned to his family and said,
"But this is a team effort. No one achieves
something like this alone-it requires travel
away from home and family, long hours and
dedication. Without family support, these
CLIENTS & MARKETS:
5 QUESTIONS TO ASK
* What is the company's
process for agency selection?
* What are their criteria?
How do they rank one
another in terms of
positive patient relations
vs. recovery rate?
* Who is responsible for their
buying process and what
is each of their individual
roles, level of authority,
concerns and values?
* How profitable is this
category of business, and
are there variables within?
* What is your reputation in
this market (vertical and
geographic)-good, bad or
unknown-and what can
you do about it?
Flexible. Scalable. Comprehensive.
Modular. Now with Microsoft SQL
Server based options. Software
for first party, third party and
specialized portfolio collections.
Best value with the functionality
that your agency needs.
Call us for a free consultation
1-800-661-6722 | Collect.org
Table of Contents for the Digital Edition of Collector - June 2017
In Case of Emergency
Pulling Back the Curtain
ACA International's 2017 Convention and Exposition Preview
Seeing Eye to Eye
The Business Battle
Blueprint for Success
Federal Court Nixes CFPB Enforcement Action That Claimed a Payment Processor Ignored Fraud
Collector - June 2017 - Cover1
Collector - June 2017 - Cover2
Collector - June 2017 - 1
Collector - June 2017 - 2
Collector - June 2017 - President's Page
Collector - June 2017 - Industry News
Collector - June 2017 - 5
Collector - June 2017 - 6
Collector - June 2017 - 7
Collector - June 2017 - Best Practices
Collector - June 2017 - 9
Collector - June 2017 - FYI
Collector - June 2017 - 11
Collector - June 2017 - Collection Tips
Collector - June 2017 - 13
Collector - June 2017 - In Case of Emergency
Collector - June 2017 - 15
Collector - June 2017 - 16
Collector - June 2017 - 17
Collector - June 2017 - 18
Collector - June 2017 - 19
Collector - June 2017 - Pulling Back the Curtain
Collector - June 2017 - 21
Collector - June 2017 - 22
Collector - June 2017 - 23
Collector - June 2017 - 24
Collector - June 2017 - 25
Collector - June 2017 - ACA International's 2017 Convention and Exposition Preview
Collector - June 2017 - 27
Collector - June 2017 - 28
Collector - June 2017 - 29
Collector - June 2017 - 30
Collector - June 2017 - 31
Collector - June 2017 - Calendar
Collector - June 2017 - Honor Roll
Collector - June 2017 - Seeing Eye to Eye
Collector - June 2017 - 35
Collector - June 2017 - The Business Battle
Collector - June 2017 - 37
Collector - June 2017 - 38
Collector - June 2017 - 39
Collector - June 2017 - Blueprint for Success
Collector - June 2017 - 41
Collector - June 2017 - Federal Court Nixes CFPB Enforcement Action That Claimed a Payment Processor Ignored Fraud
Collector - June 2017 - 43
Collector - June 2017 - Compliance
Collector - June 2017 - 45
Collector - June 2017 - ACA SearchPoint
Collector - June 2017 - 47
Collector - June 2017 - Last Word
Collector - June 2017 - Cover3
Collector - June 2017 - Cover4