There is no getting around the fact that operating a small business involves chasing down bad debts. There are always those customers that don’t pay their bills. Sometimes business owners need to go so far as to take customers to court. But even winning a judgment does not guarantee payment. If this sounds like your experience, we are guessing you know that chasing bad debts only keeps you from more important things.
That leads to a question: what other things could you be doing if you weren’t chasing bad debts? Likewise, what other tasks could you devote your time and energy to rather than trying to collect outstanding judgments? If you know the answer, you might also know why so many judgment creditors turn their unpaid judgments over to Judgment Collectors.
1. Improve Your Products or Services
Chasing bad debt sucks up valuable resources. We are willing to bet that at least some of those resources could go toward improving your company’s products or services. Maybe some of it could go into research and development. Perhaps you could put more money into better materials. Whatever the case might be, your company’s ability to improve products and services is hampered when you are taking resources away from such endeavors.
2. Improve Back Office Efficiency
It has been our experience that debt and judgment collection is often left to the office staff. Whether it is the bookkeeper or one of the receptionists, they have other things to do. Being saddled with bad debts only hampers their efficiency. You could improve back-office efficiency by turning unpaid judgments over to us.
Imagine your office staff not being distracted by having to make phone calls, send emails, or type formal letters demanding payment. Imagine them not being distracted by having to maintain rock-solid records so as to keep a history of the judgments they are working on. They could get so much more done. They could be so much more efficient in the tasks you hired them to do.
3. Start Working on Your SEO Campaigns
Search engine optimization (SEO) is no longer an option in the digital marketplace. If you are not putting time and effort into regular SEO campaigns, you’re not taking advantage of the internet’s marketing power. Is chasing bad debt putting you in that position? You wouldn’t be alone.
Chasing bad debts tends to lead small business owners to push other priorities farther down the list. SEO is one of those things that typically ends up at the bottom of the list when time and resources are stretched thin. That is a mistake.
At any rate, turning your bad debts over to us gives you every opportunity to start putting more time and effort into SEO. The more successful you are on the SEO front, the more profitable your business should be. That is the goal, isn’t it?
4. Take Care of Your Customers
The most important thing you could do after turning unpaid judgments over to us is get back to taking care of your customers the way you did when you first opened your business. No longer distracted by bad debt, you can give your customers the time and attention they deserve. Doing so is easily the best way to build your business.
Bad debts are part and parcel with running your own company. If any of your bad debts are actually unpaid judgments, we can help. Let us talk about any outstanding judgments you are currently working on. If we can take them for you, you will be freed up to do other things.