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Goal Setting for Entrepreneurs

We have all heard the term “Smart Goals”.   Goal setting for entrepreneurs is not different than goal setting for CEOs.   Everyone has different goals.

Make sure your goals are






Let’s look at realistic.   Do make your goal unattainable as you will only beat yourself up for not obtaining that goal.   Keep in mind some goals look great on paper but are much more difficult to achieve.  On the other hand, don’t make them so simple that you are guaranteed to reach them.  Goals are meant to stretch you.

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5 Collection Agency Benefits

If you have ever said I hate collections or that isn’t my job.  Look at these 5 collection agency benefits.   Any company who have unpaid invoices for 30-45 days need to hire a reputable Collection Agency?  Check out these 5 Benefits to using a collection agency.  This is considered your Bad Debt on your profit and loss statement.   Collections can be managed by an internal employee or outsourced to a reputable collection agency.

Remove Emotion from the Equation

By hiring a third-party collection agency makes is more cost effective and it removes all the emotion from the equation.  This also takes the stress and frustration off the business owner.  It many times will allow the company to salvage a business relationship with the debtor.

Wearing Too Many Hats

In the majority of business, the sales consultants not only have the position of a quota of sales, but they also must take care of collections as well.   If they paid based on commission, this can affect their paycheck.  This will leave you a disgruntled employee.

Don’t Waste Time and Money

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Tips You Can Use to Repair Your Credit

Here are a couple tips you can use to repair your credit.

All cases of bad credit are not a result of people being irresponsible. Some bad credit is strictly because of unexpected hardships that affect their financial situation. You may have been that person who paid your debts on time maybe even before due and then the next day an accident, job loss or health situation changes everything overnight. This can wreck your great credit rating and it was out of your control.

You can hire a repair service to get disputed entries removed from your report. But did you know that you can often get the same results at a much lower cost? It can be time-consuming. Below you will find 2 tips that can help you correct your reports yourself.

Option #1: File a Dispute with the Credit Bureaus

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How a Debt Collection Agency Can Save Your Business Time & Money

Take a look at how a Debt Collection Agency Can Save Your Business Time & Money.

 Outstanding debts are painful and annoying. Settle them once and for all with a Debt Collection Agency that produces results.

You don’t need to be a corporate mastermind to understand that collecting money is the main goal of any business. When the money you earned isn’t collected, you lose out on the value you created. Then, as time goes on, you’re increasingly less likely to recover that value.

If you’re a business owner, you probably don’t have a lot of free time on your hands. Not only that, but the topic of debt collection is often intimidating. You wouldn’t want to spend your precious time diving into a complex subject that may or may not yield results in the long run.

This is where debt collection agencies come into play.

Debt Collection Agencies are 3rd party contractors who locate debtors and convince them to fulfill their monetary obligation to you. They specialize in debt recovery so you can continue working on other aspects of your business.

The right agency can get your hard-earned money back in your pocket quickly and effectively. They accomplish this through a variety of industry standard practices. Some of the most important aspects of a collections agency include…

Legal Protection

Debt Collection is a tightly regulated industry because of its history. In fact, consumers have filed more complaints with the Consumer Protection Bureau over collection agencies than any other business, product or services.

Consumers often seek every avenue when avoiding a debt. If you make a mistake while trying to collect from them, there could be legal consequences.

Collection agencies understand this and are therefore well-versed in both federal and state regulations. Allowing a debt collection agency to track down your debts eliminates your legal risk and puts it into the hands of a prepared company.

Success Rate

Hiring a debt collection agency significantly increases the odds you will receive your money. These agencies are experienced in locating and collecting outstanding money, and they typically have access to a wider range of resources than you.

While your main focus is running your business, their main focus is collecting your debt. They understand the most effective ways to legally coerce a debtor into paying and they pose a much larger threat than an individual business owner.


People typically pay much faster after being contacted by a debt collection agency. In addition to receiving your money in a timely fashion, it also frees you up. Hiring an agency allows you to return 100% of your focus back toward your business.

Not only will you have more time to concentrate on your business, but you will also gain the peace of mind knowing the revenue is on its way.

Debt Collection agencies serve a lot more functions, but these are the most important. Instead of letting a debt drag on for months or even years, you can retrieve your money now.


MCA is a third party debt collection agency that has been in constant business since 1950.  We are rated A+ with the Better Business Bureau and we pride ourselves in excellent customer service along with delivering great recovery rates.  There is no cost to you unless we collect!  Why not try and re-coop some of your past due accounts with no out of pocket expense?



What Do Collection Agencies Do

What do collection agencies do you ask?  The first thing once you receive a call from a collection agency your heart is beating harder and your mind is racing.  You may even realize you are behind or haven’t paid your bill but you were still dreading the phone call.   No need to be nervous you just need to understand the process and how you can reconcile it.

Keep in mind the collection agency ‘s end results is a paid invoice for their client.  They want to work with you.  They realize life happens and you probably didn’t intend for this to be turned to collections.

How Debt Collectors Work:

There are several ways Collection agencies operate.  Some operate in-house and someone from the company would be contacting you or they could be using a third party.   That would typically be an outsourced collection company or an attorney.   They generally would not contact you until you are 60 days past due.

They typically keep 25% – 45% of the recovered debt.  They recover for numerous types of industries such as medical, credit card, vehicle and home loans, unpaid utilities for just a few.

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Why Collection Agencies Exist

Why do collection agencies exist you ask?  No matter how great the company, there are going to be bad debts.  A Collection Agency exists to assist the business owner in securing that unpaid debt.   No business is too small or too large to have delinquent accounts.   If the company continues to try and collect on their own, they risk several things.

  • Taking too long and having to write it off
  • Approaching it without knowing the laws and getting in trouble and spent a lot more than they collect
  • Not having the necessary tools to track the debtor down if he/she moves

3 Techniques for Critical thinking!You probably wonder how they charge

Many think it is too expensive for little results.   How they charge is a great question as some collection companies charge a large fee upfront and they don’t push to collect like those who you only pay if they collect for you.   The latter option leaves those business owners with a win-win.   

Allowing a collection agency to work on your behalf allows you to retain that customer and their referrals in the future.  It takes the emotion from the equation as this could be someone you have known for years or even a family member. You do want to do your due diligence and search for a reputable collection agency like MCA Collection Agency with their A+ BBB rating.  They can help you if your business is in MO or TX.

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Signs You Need to Outsource Collections

Signs you need to Outsource Collections – As any business owner knows running your own business is not easy.  It not only takes a large investment but it is an extreme investment of your time. You have to make sure things are running smoothly and successfully.  As business owners, the last thing you want to be doing is chasing down payment for unpaid invoices.   Doing something you are not passionate about can also be an energy suck causing you to be less productive.   Here are some simple suggestions that can help make things a little less stressful.  In MO and TX debt collection agencies may be able to help you get back on track. Here are some signs that you might need to consider hiring a debt collection agency.

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MO and TX Collection Agency Top 10

Looking to hire a collection agency?   Here’s MO and TX Collection Agency Top 10.

When you decide upon a collection agency to do business with there are a few things to makes sure you check out the top 10 questions to ask.

  1. What kind of rating do they have with the Better Business Bureau or do they even report to the BBB.
  2. What kind of track record do they have? What is their average retrieval of unpaid debt?
  3. Do they work in your industry or have they in the past?
  4. Is it a single person business or do they have a team working for you?
  5. How long have they been in business?
  6. Do they use skip tracing to find those debtors that might “skip” town?
  7. Do you get a REAL person when you call or do you continually have to leave a voice mail or worse only response is by email?
  8. How often do they keep you up to date on your invoices?
  9. How do they charge for their service? Do you pay a hefty fee up front or is it based on their success?
  10. Are they insured to protect you?

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Myths About Collection Agencies

7 Myths About Collection Agencies listed below:

Most people think Collection Agencies are out to get you. That is Myth #1.  We really want to help our client collect and work with those who have ended up in a bad situation.

Myth #2:  The Company will lose too much money if they use a collection agency

Myth #3:  Some think Collection Agencies are connected to banks.  That is inaccurate. A Bank can have their own collection agency. Just because you are working with an agency does not mean they have to have a bank affiliation.

Myth #4:  Many think there is a large upfront fee when you may or may not collect an unpaid debt.   Using a reputable company like MCA, there are no upfront fees.  If they don’t do their job and collect, you will never pay anything.

Myth 5:  Collection Agencies are debt buyer.  There are companies that do buy debt for a percentage and then collect all they can.   That is NOT a Collection Agency.

Myth 6:  Collection Agencies treat your past clients rude and uncaring.  That may be true for some but you will never find that working with MCA Collection Agency.  We believe everyone involved should be treated with respect.  We have a job to do but we will be professional in all steps in the process.

Myth 7: It takes a long time to get paid after the Collection Agency collects.  We realize this debt is causing your cash flow to be affected and we want to get you paid as quickly as possible once collecting your unpaid debts from your debtors.

Highly recommend making sure whatever collection agency you work with, you check out their BBB rating.  We have an A+ because we take good care of our clients and hold them in the highest regard.   We would love the opportunity to have a conversation and see if a partnership with us might be one of the best investments you ever make as a business owner.

MCA is a third party debt collection agency that has been in constant business since 1950.  We are rated A+ with the Better Business Bureau and we pride ourselves in excellent customer service along with delivering great recovery rates.  There is no cost to you unless we collect!  Why not try and re coop some of your past due accounts with no out of pocket expense?

Teaching Your Children to Save

Teaching Your Children to Save is priceless developing their lifestyle when they are grown.
Start with their first piggy bank. Let them begin when they are young. Make it fun and easy to save. Teach them the goal is to fill up the bank. Encourage them to put any change they receive into their bank and not spend it.

Open a savings account for them. Recommend taking a percentage of all gifts and money earned and put into their savings account. A perfect example of compound interest is to show how doubling a penny once every day for 30 days will eventually generate $10 million dollars!piggy-bank-1446874_1920

Create a visual. Draw a thermometer on paper to show how much they are saving, allowing them to see the progress. Another Visual would be using a long strip of paper and a marker. Have $0 on one end and $100 on the other end. Create milestones $5, $25, $50 etc. Depending on their age give our sticker rewards.

A clear jar is another great visual for kids to see results as the jar fills. Have a goal of how much they want to save before they take the money to the bank to put into their savings.

Be a True Example. Show how you are putting money in your savings. It could be that you share with them the envelope system by money guru Dave Ramsey. You break money down into 3 or 4 sections and put them money in each of the envelopes.

Talk to your children about money. They do not teach this in the schools so it is up to the parents to make sure children understand how to save or they will always live paycheck to paycheck.

Asking right questions can get them to think long-term and have a positive relationship with money. Letting your children know you’re always open to have a conversation about money can encourage them to ask questions. It is a tough learning curve.

MCA is a third party debt collection agency that has been in constant business since 1950.  We are rated A+ with the Better Business Bureau and we pride ourselves in excellent customer service along with delivering great recovery rates.  There is no cost to you unless we collect!  Why not try and re coop some of your past due accounts with no out of pocket expense?



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    This is an attempt to collect a debt. Any information obtained will be used for that purpose. This communication is from a debt collector.

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