Email Collections
View more presentations from Michelle Dunn.
Sunday, September 19, 2010
Sunday, August 15, 2010
Thursday, July 22, 2010
Sharing with Writers and Readers: Author Michelle Dunn Shares Secrets for Getting Qu...
Sharing with Writers and Readers: Author Michelle Dunn Shares Secrets for Getting Qu...: "Michelle Dunn is a an author I fell in love with a long time ago because she is such a great marketer. You should know that my definition of..."
Friday, March 12, 2010
Social Networking/Marketing
In 2010 I am stepping up my online presence, and attending more virtual events and joining and networking on social networks to save on expenses and travel.
If anyone wants to connect on other social networks, please join me on
LinkedIn:
http://www.linkedin.com/in/creditmd
Twitter:
http://twitter.com/DunnMich
If anyone wants to connect on other social networks, please join me on
LinkedIn:
http://www.linkedin.com/in/creditmd
Twitter:
http://twitter.com/DunnMich
Monday, February 22, 2010
Kaulkin Ginsberg’s Virtual Exposition a Success
Attending a virtual expo really appealed to me this year, especially since the economy has hit everyone hard and travel and time are an expense many of us can’t afford. The best part about the industry’s first virtual exposition was that it was free and you could attend from anywhere, the park, your home in your slippers, a coffee shop or your office.
The virtual expo had a virtual exhibit hall, live webinars and booths where you could download information, have a private or public booth chat and network. I stopped in to visit many of the booths and chatted with the folks manning the booth. It was great to see who was there, say hello to old friends and meet new people in the industry. I was able to connect and talk with specific vendors about their products and services and establish a relationship that I hope will help us to network with each other now and in the future.
I attended the webinar “State of the Industry – Trends and Predictions” put on by Kaulkin Ginsberg. They had a few different speakers and it was a very informative webinar. Some of the highlights that I took away from the presentation were that in 2010 it appears that smaller bills or invoices will be easier to collect and securing settlements will be easier. This makes sense due to the state of the economy and is a signal to all collectors to focus more on those accounts for more collections in 2010. Some other things talked about were the Fair Debt Collection Practices Act reform, which we all knew was coming. It was also discussed that the Federal Trade Commission will adjust who enforces it or who has rule-making authority. We should also look for an increased violation charge, significantly more than the $1,000.00 per violation charge now in place. Of course there will be more changes to the FDCPA and increased state enforcements of their specific laws. Collection agencies should look for increased data security requirements for agencies because they are handling sensitive consumer data.
The webinar also talked about student lending, and how private student loans are already in decline due to the economy and this will have a severe impact to the ARM industry in this sector. If you have been watching any national news or reading any national newspaper, you saw this one coming.
ARM service providers will see that 2010 will be a rebuilding year, once again due to the economy. Municipalities will increase their outsourcing which many agencies are already seeing. I know I have had more inquiries on my consulting in this specific area. This can be a good thing for agencies since it will help increase jobs in 2010. Surviving this recession will force many agencies to take drastic steps to be successful and if they focus on increasing their commitment to their compliance departments this will help them to be successful in 2010.
There was a question and answer period and someone asked, “Due to the economy, what positions are in high demand for the ARM industry?” The answer is, sales people and you can recruit good ones by offering incentives such as sign on bonuses, and senior level managers with experience with call centers. Many other things were covered, and I found the webinar to be engaging, informative and interesting. Something I would recommend and I look forward to attending more virtual expo’s this year.
Michelle Dunn, author of Starting a Collection Agency, how to make money collecting money 3rd edition.
The virtual expo had a virtual exhibit hall, live webinars and booths where you could download information, have a private or public booth chat and network. I stopped in to visit many of the booths and chatted with the folks manning the booth. It was great to see who was there, say hello to old friends and meet new people in the industry. I was able to connect and talk with specific vendors about their products and services and establish a relationship that I hope will help us to network with each other now and in the future.
I attended the webinar “State of the Industry – Trends and Predictions” put on by Kaulkin Ginsberg. They had a few different speakers and it was a very informative webinar. Some of the highlights that I took away from the presentation were that in 2010 it appears that smaller bills or invoices will be easier to collect and securing settlements will be easier. This makes sense due to the state of the economy and is a signal to all collectors to focus more on those accounts for more collections in 2010. Some other things talked about were the Fair Debt Collection Practices Act reform, which we all knew was coming. It was also discussed that the Federal Trade Commission will adjust who enforces it or who has rule-making authority. We should also look for an increased violation charge, significantly more than the $1,000.00 per violation charge now in place. Of course there will be more changes to the FDCPA and increased state enforcements of their specific laws. Collection agencies should look for increased data security requirements for agencies because they are handling sensitive consumer data.
The webinar also talked about student lending, and how private student loans are already in decline due to the economy and this will have a severe impact to the ARM industry in this sector. If you have been watching any national news or reading any national newspaper, you saw this one coming.
ARM service providers will see that 2010 will be a rebuilding year, once again due to the economy. Municipalities will increase their outsourcing which many agencies are already seeing. I know I have had more inquiries on my consulting in this specific area. This can be a good thing for agencies since it will help increase jobs in 2010. Surviving this recession will force many agencies to take drastic steps to be successful and if they focus on increasing their commitment to their compliance departments this will help them to be successful in 2010.
There was a question and answer period and someone asked, “Due to the economy, what positions are in high demand for the ARM industry?” The answer is, sales people and you can recruit good ones by offering incentives such as sign on bonuses, and senior level managers with experience with call centers. Many other things were covered, and I found the webinar to be engaging, informative and interesting. Something I would recommend and I look forward to attending more virtual expo’s this year.
Michelle Dunn, author of Starting a Collection Agency, how to make money collecting money 3rd edition.
Monday, February 15, 2010
Your Credit Policy is an Asset to your Business
Your business has many assets, such as physical items, maybe your building, equipment, items you stock, key employees, your customers and your credit functions. Many business owners don’t look at their credit functions as an asset, but your credit functions are one of the most important assets your business has. Assets are economic resources owned by a business. Anything tangible or intangible that your business owns is an asset, assets are things of value that can be easily converted into cash and cash is considered an asset.
Your credit functions should be involved in the segmentation, targeting and positioning of your business. Ask yourself, what is the objective of my business and is my credit policy in line with those objectives or with corporate objectives? Segmenting, targeting and positioning help your business to know your customers better and focus on those customers needs in your target market resulting in long-term customer relationships and therefore more sales at less cost.
Your credit policy is the backbone of your finances, without money you cannot continue to stay in business or grow your business. The credit policies you have for your company should be integrated with your sales department and distribution so that you can all be on the same page and provide outstanding customer service. When these things are in line with each other everything runs much more smoothly, and your customer can see that. When your credit department is run correctly and efficiently it helps you to maintain long-term customer relationships by ensuring repeat profitable sales and minimizes your costs. Having the lines of communication open between credit and sales will go a long way in your success, make sure to have regular meetings with the sales and credit departments and help them find ways that they can work together to make each others jobs easier. This will be reflected in your bottom line. These meetings can help you in many ways, it can help your sales people to learn the skills they need in order to gather key information that the credit department needs in order to make informed decisions. The credit department can also be “trained” to know what the sales people deal with and how they can help them to make a sale while limiting your businesses credit risk.
As you take these steps to improve your business, be sure to reward your sales and credit people, this helps them to stay motivated and strive towards doing even better, which can only benefit you and your business. If you do nothing else to increase sales try merging your credit and sales department and you will see a vast improvement in your receivables, bad debt and employee morale.
Your credit functions should be involved in the segmentation, targeting and positioning of your business. Ask yourself, what is the objective of my business and is my credit policy in line with those objectives or with corporate objectives? Segmenting, targeting and positioning help your business to know your customers better and focus on those customers needs in your target market resulting in long-term customer relationships and therefore more sales at less cost.
Your credit policy is the backbone of your finances, without money you cannot continue to stay in business or grow your business. The credit policies you have for your company should be integrated with your sales department and distribution so that you can all be on the same page and provide outstanding customer service. When these things are in line with each other everything runs much more smoothly, and your customer can see that. When your credit department is run correctly and efficiently it helps you to maintain long-term customer relationships by ensuring repeat profitable sales and minimizes your costs. Having the lines of communication open between credit and sales will go a long way in your success, make sure to have regular meetings with the sales and credit departments and help them find ways that they can work together to make each others jobs easier. This will be reflected in your bottom line. These meetings can help you in many ways, it can help your sales people to learn the skills they need in order to gather key information that the credit department needs in order to make informed decisions. The credit department can also be “trained” to know what the sales people deal with and how they can help them to make a sale while limiting your businesses credit risk.
As you take these steps to improve your business, be sure to reward your sales and credit people, this helps them to stay motivated and strive towards doing even better, which can only benefit you and your business. If you do nothing else to increase sales try merging your credit and sales department and you will see a vast improvement in your receivables, bad debt and employee morale.
Friday, February 12, 2010
Whether online or off, women have no shortage of places to meet other women biz owners.
When Michelle Dunn wanted help, she went looking for other women business owners. Recently divorced with two small children, Dunn wanted help growing her business, which sells personal-finance books and classes. Too busy to go out for in-person networking events, Dunn found what she needed on the internet--at Digital Women, an online networking group for women entrepreneurs.
Monday, February 08, 2010
American Credit & Collections Association launches Social Networking website
With social media taking over as the new way to market, network and grow your business, the credit and debt collection industry is no exception. Michelle Dunn, the founder of the American Credit and Collections Association has created a social networking website for anyone who wants to learn more about collecting money, credit management and networking with others within the industry.
Membership is free and members can create a profile, upload videos, start a blog, join groups, ask questions and much more. Visit Americancreditandcollections.ning.com/ to join and keep up to date on what is happening in the industry, meet new people, learn about industry events and expand your network.
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