Debt Collection 101: Episode 9 – Niche Debt Collection Spaces

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Alex: No you Spencer: Oh Okay, well you know. Spencer: Yes, yes, yes Alex: So the factor
There'' s Spencer: Restaurants Alex: Right
like. Alex: Correct I think we are, we are the only contact solution service provider that only focuses on collection companies. Spencer: Correct and I imply Alex: I think.

Video Transcript:

https://www.youtube.com/embed/Ou359_V8oCU Alex: Hey everybody, its Alex and Spencer
once again with Arbeit U Spencer: Debt Collection 101, it appeared like
you will state that. Alex: I will say “” Welcome back”” Spencer:
Invite back, yeah, or welcome for the first time, welcome for the very first time. Alex: Geez, Its rough over here, get a little
popularity and you simply take it, you understand. Spencer: Oh you think you have fame? Alex: No you Spencer: Oh Okay, well you understand. Alex: Alright, so, what are we speaking about
today? Spencer: Are you asking? Alex: Niche debt collection spaces. Spencer: Yes, yes, yes Alex: So the reason
I desired to speak about this was someone came up to me a couple weeks back, was speaking about
having a hard time, the agency struggling, you know what ought to they do, and this was one of the
suggestions I had due to the fact that I hear it a lot in fact at a lot of the ACA occasions. When you, ya so proceed. Spencer: So the goal is obviously, you desire
To discover a specific niche collection market? Discover some, everybody is gathering on, everyone
thinks its terrific to gather on medical, charge card financial obligations, everyone is doing that.Alex: Yeah so what is, when you consider a.
debt collection agency, and I seem like 90% of people when they go to start one or make one. Spencer: Yeah this is where they wish to go,.
they resemble Im going to go and buy a credit card file. Alex: Loans, auto loans Spencer: And im going.
To start working that? And we go to these ACA conferences and the.
ones who like really make it, have a specific niche right? They only desire, they even have it down to.
a balance, they know what balance they desire, they know what sort of files they want, they.
know how their system works. You desire to get truly proficient at something,.
You desire to find that niche and its fantastic how many various portfolios are.
out there so to speak, or what you cant and can collect on, right so you know someone.
who gathers on.Alex: Right so initially, prior to we go on to that,.
I was going to say, its tough to succeed when everyone is doing charge card, everyone.
is doing student loan, everyone is doing this or that. Unless you are some substantial agency that can compete,.
you understand. Spencer: Yeah you have some sort of huge advantage.
. Alex: Then its, its really difficult to do that.
I feel like its one of those things, discover a specific niche. Spencer: Find a space that no ones in generally. Alex: Right and stick in it, so yeah, the.
story I think. Somebody, this was amusing since of like.
the context behind it, however so theres a company that we fulfilled at the North Carolina ACA event.I was told they gather on World of WarCraft.
gold farmer accounts, so Spencer: So thats an incredibly niche market, for the individuals who arent.
geeks. Alex: World of WarCraft, there is a currency.
inside World of WarCraft and individuals buy this currency with reality cash. Wow is a video game, they purchase.
it with reality money and im assuming that they charge this back or something on their.
credit card due to the fact that a great deal of these, they are purchasing it from China, so they are most likely.
charging it back.So anyways, they are collecting on those charge.
backs or those accounts so thats really. Spencer: Yeah and after that whoever is looking.
to position that financial obligation, there'' s someone like they can consider off the top of their head,.
you know what I indicate and its like anything else. Alex: And its in fact, that was so funny.
and intriguing due to the fact that thats how we, World of WarCraft was like how the partners all.
met from Arbeit but like anyways, so Spencer: Big World of WarCraft fans. Alex: Yeah so there are things. Spencer: Yeah there'' s other things, yeah go.
ahead sorry. Alex: So bail bonds is another unique one,.
There'' s Spencer: Restaurants Alex: Right
like. Basically, small regional organisation as a whole.
is like, its own niche.Spencer: Casinos Alex: Yup, casino checks.
would be a good one too, but I imply this is kinda relatable in any company itself, right,.
we do it. Yeah we do it here, we just. Spencer: Yeah for those who put on'' t know,
we. certainly make a dialing software but theres applications beyond debt collector.
for that software application. Alex: Right, however we put on'' t offer it to them.
Spencer: Correct, we select to focus simply on debt collection agency. Alex: Correct I think we are, we are the only contact option supplier that just focuses on collection companies. Spencer: Correct and I suggest Alex: I believe.
thats part of the reason we have been so effective. Spencer: And the reasons is, we understand that.
area. The people who founder our business, you, Alonzo,.
you people owned a collection firm, so were practically specialists in that field to certain degree. I use the term “” expert”” loosely but thats.
what we understand and you understand we pick to stay within that field. Alex: Right I seem like a crucial to success for.
any small service is find your niche and like if you are going to, Spencer: Get really.
good at one thing.Alex: Yeah if you'' re going to be a small company. collection firm, which I indicate unless you resemble a 500 man call center Spencer: Thats.
what you are going to be Alex: Thats what you are going to be so find a niche and stick.
with it and I believe thats something for individuals beginning companies, or struggling in the market right.
now, if they are, especially due to guidelines and stuff like that, I think you'' ll find a,.
initially you'' ll have a probably an easier time getting quality debt in general, since a.
lot of those small company niche markets probably aren'' t using a debt collector.
Ya, I believe that assists, however I think thats all. Spencer: Let us understand if you are collecting.
on any little specific niche markets, If you can beat the World of WarCraft gold, let us know and.
we will use you on our next episode.Other than that, like and subscribe. Alex: Thanks Spencer: Thanks a lot, we will.
see you next week. As discovered on YouTube – Creative Commons License.

License: Creative Commons