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There comes a time at every type of business when a price adjustment is necessary. Most businesses do not like to raise prices but in fact, it is just part of doing business over time. Keeping pricing the same for long periods of time can have a negative effect on your bottom line and your cash flow. If you want to stay in business and stay profitable, you will need to adjust your pricing from time to time.

For many types of businesses, raising prices can be a little bit stressful because you don’t know how your customers will react. For other types of businesses, it […]

Success in any endeavor comes from paying attention to the details. Collections is no different. Collectors who do all the small things right are the ones who enjoy the most success. These small things are part of the countless decisions that collectors make on a daily basis. Sometimes, a decision as simple as when (and when not) to make a call can be the difference between collecting the account or not.

My best recommendation to our clients, in order to help achieve the best possible recovery, is to provide as much detailed information as possible when placing an account in collections. Knowing if a consumer named “Robert” goes by […]

You could write an entire book about what keeps business owners up all night. In fact, there are most likely many on the market. In our past blog post on this subject, we outlined a few including lack of cash flow, keeping sales and revenue growing, staying on top of current trends and other concerns. If you don’t have time to read an entire book, we got you covered here at American Profit Recovery as we have been summarizing these top issues you face.

And as you might imagine, collection agencies that serve small business hear quite a bit from business […]

Running a business is one of the best feelings in the world. You make your own decisions, implement your ideas and hopefully you see your efforts pay off in a growing business and satisfied customers. But to get there, you have to kind of get used to a little worry in your life. The late night infomercials of self-employed people sitting on a yacht all day are pretty much a myth.

If you run a business of any kind you’ll know that hard work, and some sleepless nights are part of the journey. And as a collection agency that specializes in small […]

It is a common question, especially with a newer business. How can I establish credit in my business? But it’s not solely a question for a new business. More established businesses often have to establish or even repair credit. Nevertheless, having the proper level of credit for a business is a smart way to ensure you have the backing you need, when you need it, as well as having the ability to conduct business with vendors without having to pay on demand.

There are a many out there that will claim to help you in this effort but be […]

As a collection agency working with small business owners, we hear stories all the time of businesses at the brink of failure. For whatever reason, the business just couldn’t get past any number of roadblocks in their way and the business ultimately had no choice but to close. Most of the time the reason is pretty clear. It’s cash flow. It crushes us to hear these stories because we know there was a good chance that we could have helped had we been contacted earlier.

Yes, there are many other reasons a business might close such as an owner retiring, moving on to something else, crippling […]

By Peggy: 

Everyone you meet is fighting a battle you know nothing about. Be Kind. Always.

The phrase is so cliché—it’s something that pops up on Facebook every once in a while and gets hundreds of “likes” or that you’d see on a poster in a middle school counselor’s office. But it’s also very true.  We all carry our battles with us as we walk through the day.   The fight with the spouse, the sick baby that was up all night, the paycheck that didn’t stretch as far or as long as planned. These are not things you talk about, but they can affect how you respond to that ONE LAST STRAW, however minor.  

One of the top reasons a new venture goes out of business is not enough cash behind that organization. Unless your idea takes off like you had never thought it would, you are in all likelihood in for spending more cash than you had planned for. There are probably few occasions when starting a new business takes little cash. And, few businesses that nail their budget to the exact penny the first time around.

As a collection agency serving small businesses, we often see a new business in a situation where the cash flow becomes an issue in moving forward as planned. Growth plans are stifled as a result of limited cash on hand and in […]

We’re sure we hear this same scream from business owners across the country every day. “I had no idea we were spending money on this.” Or, “Why am I getting a bill for this?” Has this happened to you? It probably has at one point.

There always seems to be some type of bill that pops into our inbox that surprises us from time to time. Maybe we signed up for a service or it was a yearly subscription that we just forgot about until the next years’ bill came to us. Whatever it is, we just seem to lose sight of what we spend money on in our businesses from time to time. And it […]