Collector - October 2020 - 47

BUSINESSOPERATIONS

the right track and make sure you have all
the documents you need and that they are
processed properly.
I really connected with my MN PTAC
mentor and he's been extremely helpful
throughout this process. Initially I was
meeting with him every two months, but
now it's more like every quarter.
There's a lot of documentation that's
required for this certification, like your
shareholder agreement, business plan,
bank statements, ownership agreements
and articles of organization. You have to
have all your ducks in a row, because once
you start the application process you can't
stop and come back. After you submit the
information, finalizing the certification
used to take four to six weeks, now I'm
guessing it's up to 12 weeks.

Q: It sounds like there are a
lot of details to keep track of
throughout this process.
A: There are! Once you get certified,

you can move on to getting contracts
and clients. The System for Award
Management at sam.gov is where you
register to do business with the federal
government. One tip about that: keep
your registration number handy!
Another number you'll need is your
Data Universal Number System (DUNS)
number from Dun & Bradstreet, which is
required to bid on government contracts.
Minority-owned business owners need
a North American Industry Classification
System (NAICS) code. You have to have
that on your business card and/or on your
capabilities statement.
One thing I just recently learned is not
to put your business in one basket with
just one NAICS code. There could be other
or additional opportunities out there with
other government contractors looking
for people to do certain things. Often the
prime contractor needs to subcontract
to a company that is veteran-owned or
woman-owned, or whatever it may be,
for a particular service. These services
can be almost anything. For example, on
the Department of Education contract,

COLLECTOR 10.20

one of the subcontractors with the prime
contractor completes the scanning and
document processing.
In my capabilities statement, I've added
more NAICS codes. I have my primary
code and then five subareas.
Being somewhat new in the industry,
it's been challenging to understand how
to find opportunities on a national level,
what's the best way to market myself and
how to tap into the networks. That's where
ACA has been really helpful, particularly
with my licensing, bonding and insurance.

Q: How long does a women-owned
business certification last?
A: You have to keep recertifying to prove
that you're still a women-owned business.
A woman has to own 51% or more of the
company and you have to run the day-today operations.
Keeping up with the deadlines for the
certification renewals can be tricky. I keep
track of it all on a dedicated spreadsheet.
If you don't recertify by the deadline, you
have to start all over again.

Q: How can these groups help
you grow your network and
find clients?
A: Most offer regular networking

opportunities. Each state has their own
chapter of SCORE and PTAC. They'll
have speed networking events where you
can sit at a roundtable and share different
ideas or say what you do and feed off
other opportunities or ideas of what
people are doing to market themselves.
I also started hitting all the networking
events that the Small Business
Administration would put on. The
downside is that you can get so busy with
all these networking events that you can
lose track of why you're doing it, which is:
I have a business to run and I have to make
money.

Q: What's next?
A: A few years ago, I started looking to

move my office location to a HUBZone,
which is a historically underutilized

NETWORKING
OPPORTUNITIES
Looking to connect
with women in the accounts
receivable management
industry? Join ACA
International's Women in
Collections Resource Council,
a women's mentorship
and education group.
Start by participating in
their discussion on The
Hub at: https://community.
acainternational.org.

business zone-basically an area that
needs economic development.
In an RFP, you'll obtain additional
points for being part of the HUBZone
program, just like you'd get extra points for
being women-owned or minority-owned.
In February 2020, we moved into a
HUBZone and now I'm just waiting to get
my certification.

Q: Do you have any tips for
women who might be interested
in learning more about these
certifications?
A: I'd say the first thing is to reach out

to your local SBA group and your state's
WOSB, WBENC and WBE. Keep in mind
that it's not necessary to have all the
certifications. For example, Florida mostly
looks for WBENC certified companies
whereas in the Midwest they might look
for WBENC and WOSB certification.
It does get expensive to obtain all these
certifications, but I'd say first reach out to
the Women's Business Development Center,
which is based out of Chicago. They have
awesome webinars and resources. If you
need help with writing a business plan and
such, reach out to SCORE for a mentor as
well as the PTAC in your state or city.

Reported by Anne Rosso May.

47


https://community.acainternational.org https://community.acainternational.org http://www.sam.gov

Collector - October 2020

Table of Contents for the Digital Edition of Collector - October 2020

Collector - October 2020 - Cover1
Collector - October 2020 - Cover2
Collector - October 2020 - 1
Collector - October 2020 - 2
Collector - October 2020 - 3
Collector - October 2020 - 4
Collector - October 2020 - 5
Collector - October 2020 - 6
Collector - October 2020 - 7
Collector - October 2020 - 8
Collector - October 2020 - 9
Collector - October 2020 - 10
Collector - October 2020 - 11
Collector - October 2020 - 12
Collector - October 2020 - 13
Collector - October 2020 - 14
Collector - October 2020 - 15
Collector - October 2020 - 16
Collector - October 2020 - 17
Collector - October 2020 - 18
Collector - October 2020 - 19
Collector - October 2020 - 20
Collector - October 2020 - 21
Collector - October 2020 - 22
Collector - October 2020 - 23
Collector - October 2020 - 24
Collector - October 2020 - 25
Collector - October 2020 - 26
Collector - October 2020 - 27
Collector - October 2020 - 28
Collector - October 2020 - 29
Collector - October 2020 - 30
Collector - October 2020 - 31
Collector - October 2020 - 32
Collector - October 2020 - 33
Collector - October 2020 - 34
Collector - October 2020 - 35
Collector - October 2020 - 36
Collector - October 2020 - 37
Collector - October 2020 - 38
Collector - October 2020 - 39
Collector - October 2020 - 40
Collector - October 2020 - 41
Collector - October 2020 - 42
Collector - October 2020 - 43
Collector - October 2020 - 44
Collector - October 2020 - 45
Collector - October 2020 - 46
Collector - October 2020 - 47
Collector - October 2020 - 48
Collector - October 2020 - 49
Collector - October 2020 - 50
Collector - October 2020 - 51
Collector - October 2020 - 52
Collector - October 2020 - Cover3
Collector - October 2020 - Cover4
http://online.collector.com/collectormagazine/202010
http://online.collector.com/collectormagazine/202009
http://online.collector.com/collectormagazine/202008
http://online.collector.com/collectormagazine/202007
http://online.collector.com/collectormagazine/202006
http://online.collector.com/collectormagazine/202005
http://online.collector.com/collectormagazine/202004
http://online.collector.com/collectormagazine/202003
http://online.collector.com/collectormagazine/202002
http://online.collector.com/collectormagazine/202001
http://online.collector.com/collectormagazine/201912
http://online.collector.com/collectormagazine/201911
http://online.collector.com/collectormagazine/201910/
http://online.collector.com/collectormagazine/201909/
http://online.collector.com/collectormagazine/201908/
http://online.collector.com/collectormagazine/201907/
http://online.collector.com/collectormagazine/201906/
http://online.collector.com/collectormagazine/201905/
http://online.collector.com/collectormagazine/201904/
http://online.collector.com/collectormagazine/201903/
http://online.collector.com/collectormagazine/201902/
http://online.collector.com/collectormagazine/201901/
http://online.collector.com/collectormagazine/201812/
http://online.collector.com/collectormagazine/201811/
http://online.collector.com/collectormagazine/201810/
http://online.collector.com/collectormagazine/201809/
http://online.collector.com/collectormagazine/201808/
http://online.collector.com/collectormagazine/201807/
http://online.collector.com/collectormagazine/201806/
http://online.collector.com/collectormagazine/201805/
http://online.collector.com/collectormagazine/201804/
http://online.collector.com/collectormagazine/201803/
http://online.collector.com/collectormagazine/201802/
http://online.collector.com/collectormagazine/201801/
http://online.collector.com/collectormagazine/201712/
http://online.collector.com/collectormagazine/201711/
http://online.collector.com/collectormagazine/201710/
http://online.collector.com/collectormagazine/201709/
http://online.collector.com/collectormagazine/201708/
http://online.collector.com/collectormagazine/201707/
http://online.collector.com/collectormagazine/201706/
http://online.collector.com/collectormagazine/201705/
http://online.collector.com/collectormagazine/201704/
http://online.collector.com/collectormagazine/201703/
http://online.collector.com/collectormagazine/201702/
http://online.collector.com/collectormagazine/201701/
http://online.collector.com/collectormagazine/201612/
http://online.collector.com/collectormagazine/201611/
http://online.collector.com/collectormagazine/201610/
http://online.collector.com/collectormagazine/201609/
http://online.collector.com/collectormagazine/201608/
http://online.collector.com/collectormagazine/201607/
http://online.collector.com/collectormagazine/201606/
http://online.collector.com/collectormagazine/201605/
http://online.collector.com/collectormagazine/201604/
http://online.collector.com/collectormagazine/201603/
http://online.collector.com/collectormagazine/201602/
http://online.collector.com/collectormagazine/201601/
http://online.collector.com/collectormagazine/201512/
http://online.collector.com/collectormagazine/201511/
http://online.collector.com/collectormagazine/201510/
http://online.collector.com/collectormagazine/201509/
http://online.collector.com/collectormagazine/201508/
http://online.collector.com/collectormagazine/201507/
https://www.nxtbookmedia.com