spotlight

THE LESSON – SHARE YOUR DREAMS

On August 28, 1963, Dr. Martin Luther King, Jr., stood on the steps of the Lincoln Memorial in Washington D.C. and shared his dream regarding civil rights equality with an estimated crowd of 250,000 people. This past weekend marked the 47th anniversary of that occasion. 

Over the years, Dr. King’s “I Have a Dream” speech has earned a reputation for being one of the greatest speeches in human history. In 1999, for example, more than 130 leading scholars were asked to share their opinions on the Top 100 speeches of the century. Dr. King’s speech took top honors. 

Since it had been several years since I last read the full text of the legendary speech, I decided it was time to give it another read. Although the speech represents Dr. King’s vision for civil rights equality, re-reading the speech did not cause me to think about civil rights this time around. Instead, I found myself thinking about dreams. Not the middle of the night “falling off a cliff” type of dreams, but the instinctive dreams that we have for our lives. What we want to do. What we want to accomplish. What we want to leave behind. Those types of dreams. 

Dr. King clearly had a passion for his dream. This is evident by the immense amount of time and energy he spent pursuing it. In fact, Dr. King received the Nobel Peace Prize in 1964 for his efforts. 

According to the official Nobel website, here are some interesting things about Dr. King you may not know: 

• He graduated high school at the age of 15, received a B.A. degree at the age of 19, and received a doctorate degree at the age of 26.
• Between 1957 and 1968, he traveled over six million miles and spoke over twenty-five hundred times.
• He wrote five books and authored numerous articles.
• He conferred with President Kennedy and campaigned for President Johnson.
• He was arrested more than twenty times and assaulted at least four times.
• He was awarded five honorary degrees.
• When notified of the Nobel award, King announced that he donate the money–$54,123–to the furtherance of his dream.

Do the math and you realize that Dr. King was 35 years old when he won the Nobel Peace Prize, and that he was only 34 years of age when he delivered that remarkable speech. 

Thirty-four years old. Think about that. 

Let it set in. 

Now ask yourself, “Have I been putting in the type of hard work and dedication needed to achieve my dreams?” 

You can access the full text of the speech here, or if you prefer, watch the video below: 

THE CHALLENGE

To view this week’s challenge, please visit www.insideARM.com/go/collector-challenge website or click here. 

THE REFLECTION

1.    What big dreams do you have for the industry?
2.    Why do you think some people fail to achieve their dreams?
3.    What do you do when someone tells you that your dream is too big?
4.    What steps do you take to achieve your dreams?
5.    What are the biggest challenges you face when working towards your dreams?

Dream big!
Gary Jensen
Editor | collector mentor 

To download companion worksheets to use with The collector mentor Challenge, please visit www.collectormentor.com/thechallenge.

THE LESSON – TREAT COMPLAINTS AS A GIFT

In late June, Apple launched the highly anticipated iPhone 4 and sold 1.7 million new phones within the first three days, nearly doubling previous iPhone product launches. In fact, pre-orders for the new iPhone allowed AT&T to have its busiest day ever for online sales (so much so that AT&T’s servers crashed). While it appeared that this product launch would go down in history as a huge success, it was only a matter of hours after the phones officially arrived in the hands of consumers that complaints about reception started to rear their head. The iPhone 4’s new design can cause significant reception problems if held in a certain manner (now dubbed “the death grip”). In response to one customer, Apple CEO Steve Jobs wrote in an email, “Just avoid holding it that way.” I could be wrong, but I am guessing that wasn’t quite the response the customer expected to receive, especially from a company as cool as Apple.

Watching the Apple saga unfold has really got me thinking about how we view customer complaints. Let’s face it. The credit and collection industry is ripe with complaints and proper complaint handling is an important part of our job.

In the popular book, A Complaint is a Gift (second edition), authors Janelle Barlow and Claus Moller encourage companies to change their perspective on complaints, and instead of seeing complaints in a negative light, see the complaints as something more positive—as a gift.

According to the authors:

Complaints are a feedback mechanism that can help organizations rapidly and inexpensively shift products, service style, or market focus to meet the needs of their customers—who, after all, pay the bills. It is time for all organizations to think of complaint handling as a strategic tool—an opportunity to learn something about products or services that maybe they did not already know—and as a marketing asset, rather than a nuisance, a cost, and a royal pain.”

The book describes a complaint as:

… statements about expectations that have not been met. They are also, and perhaps more importantly, opportunities for an organization to reconnect with customers by fixing a service or product breakdown.”

It can be all too easy to view complaints negatively. After all, while some complaints are legitimate, many are not, and sadly, some consumers simply want to get their squeaky wheel greased. Regardless, a complaint is a complaint, and a dissatisfied consumer will certainly share their frustration with others (e.g., FTC, Better Business Bureau, online blogs, Attorney Generals, clients, etc.).

The book goes on to state that:

When customers feel dissatisfied with products and services, they have two options: they can say something or they can walk away. If they walk away, they give organizations virtually no opportunity to fix their dissatisfaction. Complaining customers are still talking to us, giving us an opportunity to recapture their interest …”

THE CHALLENGE

To view this week’s challenge, please visit www.insideARM.com/go/collector-challenge website or click here.

THE REFLECTION

1.    What do you think is the most important part of complaint handling?
2.    Does your company have a formal complaint handling policy?
3.    When you have a complaint about a product or service, how do you expect it to be handled?
4.    How do you deal with frivolous consumer complaints?
5.    Were you able to improve a business processes because of the gift you received?

Unwrap and enjoy!

Gary Jensen
Editor | collector mentor

To download companion worksheets to use with The collector mentor Challenge, please visit www.collectormentor.com/thechallenge.

Photo on Flickr c/o MarcinMogo

THE LESSON – MAGNIFICENT QUALITY

This past weekend I spent some time cleaning and organizing my office. I wanted to go through a couple boxes of “stuff”, toss what needed tossing, and keep what needed keeping. When I opened the last box I was met with a pleasant surprise—desk memorabilia from a previous job.

As I sorted through the desk toys, stress balls, and conference souvenirs, a gift given to me by a fellow supervisor caught my attention. It was a framed Successories® picture that included the following quote: “Quality: Countless, unseen details are often the only difference between mediocre and magnificent.”

Dusting off that picture took me back in time and I took a moment to reflect on the occasion. A few days prior, this supervisor and I had struck up a conversation on the topic of phone quality assurance. We talked about the behind-the-scenes hard work and preparation that goes into creating a positive customer service/collection call, and we both agreed that while customers might not see all of the “countless, unseen details,” they do see the finished product and they know whether or not the end product is “mediocre or magnificent.”

Companies spend thousands of dollars each year to achieve high standards of quality through initiatives such as Six Sigma and LEAN. Perhaps you have even heard of the phrase Total Quality Management. Quality products and services not only attract and retain clients, but they also help make the workday more efficient and more productive. Clearly, quality really does separate the mediocre from the magnificent.

THE CHALLENGE

To view this week’s challenge, please visit www.insideARM.com/go/collector-challenge website or click here.

THE REFLECTION

1.    What did you learn about yourself this week as a result of completing this challenge?
2.    How can you continue to benefit from this challenge in the future?
3.    What was your biggest takeaway?
4.    What positive changes could you make going forward in order to maximize the benefit of this challenge?
5.    How would continual practice of this challenge change your life?

Mediocrity or magnificence: What will you leave behind this week?

Gary Jensen

Editor | collector mentor

To download companion worksheets to use with The collector mentor Challenge, please visit www.collectormentor.com/thechallenge.

THE LESSON – BE KIND

This week’s challenge is inspired by an article I read over the weekend titled, “‘Secret Agent’ is on a mission: Spreading kindness.”

The Secret Agent, Duquesne University administrative assistant Laura Miller, better known as Secret Agent L, has spent the past year performing random acts of kindness in Pennsylvania. Laura’s weekly random acts have ranged from leaving a roll or quarters in the laundry mat to leaving a Starbucks gift card in a church and doggie treats at the dog park. She posts each of her “missions” on her blog, Secret Agent L, and notes that her interests include “spreading joy, practicing random acts of kindness, and brightening people’s days.” Her efforts seem to be catching on. Secret Agent L now has more than 80 “affiliated agents” worldwide and her blog and Twitter (@secretagentl) fan base continue to grow each day.

Reading the article reminded me a lot of one of my favorite movies, Pay It Forward. In the movie, Haley Joel Osment plays the role of Trevor McKinney who is given a school assignment that requires him to “think of an idea to change our world—and put it into action.” His idea: Do one good deed for three people with hopes of those three people “paying it forward” to three others. Do the math and you realize that there is power behind those numbers!

If you have not seen the movie, or if you need a refresher, check out this clip:

THE CHALLENGE

To view this week’s challenge, please visit www.insideARM.com website or click here.

THE REFLECTION

1.    What did you learn about yourself this week as a result of completing this challenge?
2.    How can you continue to benefit from this challenge in the future?
3.    What was your biggest takeaway?
4.    What positive changes could you make going forward in order to maximize the benefit of this challenge?
5.    How would continual practice of this challenge change your life?

Be kind,

Gary Jensen

Editor | collector mentor

To download companion worksheets to use with The collector mentor Challenge, please visit www.collectormentor.com/thechallenge.

Photo on Flickr c/o wadem

THE LESSON – SAY THANKS (in writing)

Over the past few weeks I’ve been conducting interviews in hopes of finding a new assistant. So far, I’ve held face-to-face interviews with seven potential candidates. To date, two candidates have expressed their thanks via email, one candidate sent, what appeared to be, a computer generated thank you letter template in the mail, and one candidate sent a handwritten thank you card in the mail.

Of these, it was the handwritten thank you card that captured my attention. Why? Because even though typed post-interview thank you letters are the norm, handwritten post-interview thank you cards are not. Over the years I’ve conducted hundreds of interviews, and while I have received hundreds of post-interview thank you letters (most are of the Internet copy- and-paste template variety) only a handful have been handwritten sentiments.

So what would make a person take the extra time to pick out a card and pen a handwritten note? A few things come to mind: The candidate wanted to stand out from the crowd. The candidate has good manners. The candidate genuinely wanted to express gratitude. The candidate has class.

Over the years I’ve read and heard some great stories about thank you cards and how a small gesture eventually made a significant impact on someone’s life. For instance, you can click here to read author Harley Hahn share his story about how a simple thank you card helped him get in the “in” circle of IBM consultants. Hahn’s article also shares additional stories and information related to thank you notes which is worth the read if you have the time.

As someone who also relies on handwritten thank you notes, I know the how valuable they can be, and this past weekend I found myself wondering why thank you cards are becoming such a lost art. I started thinking about text messaging, email, and Facebook and how quick and easy it is to send our “thanks” using these communication tools. But, think about it: Does a message in your inbox mean as much as a message in your mailbox? Does the wall post on Facebook beat opening an envelope? Doubt it.

If you’ve ever received a thank you note (especially one that had nothing to do with a wedding or graduation gift, or an interview, since those are expected) you know what I’m talking about. It likely made you feel good and put a smile on your face. You probably even had positive thoughts about the person who sent it. In fact, chances are you still have that card tucked away somewhere for safekeeping. I know I have several.

THE CHALLENGE

To view this week’s challenge, please visit www.insideARM.com website or click here.

THE REFLECTION

1.    What did you learn about yourself this week as a result of sending handwritten thank you notes?
2.    What did you choose to be thankful for?
3.    How do you think the people receiving the notes felt?
4.    Did anyone reach out to thank you in return?
5.    How would continual practice of writing thank you notes change your life?

Thank you,

Gary Jensen

Editor | collector mentor

To download companion worksheets to use with The collector mentor Challenge, please visit www.collectormentor.com/thechallenge.

THE LESSON – SET A TEAM STRETCH GOAL

This week’s challenge is inspired by legendary college football coach Lou Holtz:

“All winning teams are goal-oriented. Teams like these win consistently because everyone connected with them concentrates on specific objectives. They go about their business with blinders on; nothing will distract them from achieving their aims.”

Holtz was passionate about teamwork and goal setting. When he took over the reins of the Notre Dame program in 1986 he had the names removed from the players’ jerseys to emphasize teamwork. Although the team ended the season with a 5-6 record that year, they went 8-4 the following year, and in 1988 the Fighting Irish went undefeated and ended the season with a Fiesta Bowl victory, thereby claiming the NCAA Division I National Championship. When it was all said and done, Holtz ended his 11 year Notre Dame career with a 100 wins and 30 losses, including five bowl championships.

For additional insight I encourage you to invest three minutes of your time watching Holtz discuss the importance of goal setting:

THE CHALLENGE

To view this week’s challenge, please visit www.insideARM.com website or click here.

THE REFLECTION

1. What did you learn about your teammates this week as you worked together to set your team goal?
2. How can your team continue to benefit from setting team goals in the future?
3. Was your team able to proactively identify potential roadblocks and devise work-arounds?
4. What positive changes could your team make going forward in order to maximize the benefit of this challenge?
5. How would continual practice of this challenge change your team?

Ready, sweat, goal!

Gary Jensen

Editor | collector mentor

To download companion worksheets to use with The collector mentor Challenge, please visit www.collectormentor.com/thechallenge.

Photo on Flickr c/o lululemon athletica

THE PERFECT STORM COLLECTION INDUSTRY WEBINAR SERIES – Part 1

Live Webinar
August 12, 2010
1pm ET/12pm CT

Don’t be caught out in the rain.

The credit and collection industry is being pelted by regulatory and economic challenges. Add to that consumers’ increased use of social media and you have the elements for a perfect storm.

Join insideARM.com and collector mentor as they team up to bring you a three-part webinar series covering the latest advice and strategies for weathering the downpour.

What You will Learn in Part 1:

This first of three sessions dives deep into the critical topic of data security requirements. Did you know that Federal law now requires executive participation?  Data security can no longer be delegated to your IT department.  

This session will cover the requirements associated with the Gramm-Leach-Bliley Act (GLBA) and the Red Flag Rules, healthcare rules including HIPAA and the HITECH Act, the Federal Information Security Management Act(FISMA), as well as requirements specific to various states.

Panelists will also review myriad industry standards including PCI DSS, ISO 27000, BITS Shared Assessments, and SAS 70. It’s enough to make a business exec’s head spin.  Different organizations have different requirements and preferences for which audits they accept; and business could be lost without the proper audit.

You’ll learn about concerns associated with SAS 70, including what it does not cover, the potential impact to your organization as a result of poor public image and loss of customer confidence, and what AICPA says about using SAS 70 for your security audits.

Attend The Perfect Storm: Regs and Red Tape Trends Vital to the Success of Your Collection Operation right from your computer on August 12th and learn:

• How to set up a systematic security and compliance audit process that can be monitored and tested regularly
• How to turn your security investment into a sales and marketing tool
• How to avoid the data breach notification with Safe Harbor
• Cost and Investment Recovery: Data security doesn’t have to be really expensive
• How to monitor your service providers and tell whether they are really PCI DSS compliant
• How you can be and sound informed: Executive guide to IT lingo
• The cost of not being prepared for the storm

This is a lesson that all collection executives must have!

Reserve your seat today.

Each week we bring you 10 of our most favorite stories from around the industry.

Week of July 18, 2010

1. Debt collection lands 3 men in Utah County jail

(ksl.com, 07/22/10)

Three men rush into a home in an attempt to recoup $400.

P.S. – If you are looking for a juicy story about a collection agency violating the law you’ll be disappointed.

2. Debt Collection: A Look Inside Collection Training

(PRLog.org, 07/22/10)

Michael Brazier of Freedom Debt Management reviews six tactics that collectors are using to “manipulate” or “trap” customers. Brazier lists thinking positively as one of those methods. Seriously? Positive thinking?

3. Debt collection can be a dirty business

(Tampa Bay Online, 07/21/10)

Attorney Jeff Kaufman says about debt collectors: “You’re talking about a bunch of guys in boiler rooms…these people do whatever they want…It’s pretty dirty.” Kaufman goes on to say that collectors “prey upon the weak” and calls collectors “creepy human beings.”

Too many movies perhaps?

4. Collecting a bounced check takes 1,600 days

(HAARETZ.com, access 7/23/10)

Interesting collection statistics from Israel. Buckle up. 

5. Some debt collectors turn to Facebook

(Arizona Daily Star, 07/20/10)

Consumer claims to be broke. Facebook photos show Corvette and fishing trip. Consumer decides to pay bill in full.

6. Collection Agency Welcomes New Team Members in Michigan Office

(PRLog.org, 07/19/10)

American Profit Recovery adds three to their sales team.

7. ‘RealHousewives of New Jersey’ star Danielle Staub files report with Wayne police

(NorthJersey.com, 07/19/10)

It doesn’t involve a professional debt collector, but we just couldn’t resist the story about a 30 year old debt and 50 phone calls in one day.

8. Debt Collection From the Collector’s Point of View

(The Atlantic, 07/16/10)

Editor Megan McArdle piggybacks off of CNN’s “confessions” slideshow and asserts that “The fact is, collecting money from those who owe it is a miserable job.  That means that the people who do it are going to be miserable–and that it’s probably hard to attract high quality workers.” Is this really a fact? Share your thoughts. 

9. New Financial Regulatory Law to Impact the Debt Collection Industry

(insideARM.com, 7/23/10)

ACA International, The Association of Credit and Collection Professionals, issued a press release concerning the Consumer Financial Protection Act of 2010 that President Obama recently signed into law. You might also be interested in FDCPA Defense Attorney Tomio Narita’s overview for collectors which can be found here.

10. CNN Spins Words of Ex-Debt Collectors into “Confessions”

(insideARM.com, 07/21/10)

insideARM.com’s managing editor Michael Klozotsky gives his two cents on  CNN’s “confessions” slideshow. You don’t want to miss this post.

THE LESSON – ENCOURAGE OTHERS

Sometimes when the going gets tough, the tough just want to quit. At least that was the thought running through my mind last weekend as I was finishing the final two miles of a 10k. You see, I’ve been training for a marathon (my first marathon actually) and last weekend I decided to pack in a full day of racing to help me get some miles in—15 miles worth of racing to be exact. It started with a 10k in the morning followed by a 5k and 10k later that night.

By the time I got to the last two miles of the last 10k, I was spent. My legs were cramping and I was getting dehydrated. In fact, my normal pace had slowed dramatically and my stride had turned into baby steps. That was about the time when my mind spoke up: “You’ve already run more than 11 miles today, just drop out now.” “Hey, it’s okay to walk from here.” “You can’t do it.” “Stop.” “No one would fault you for quitting now.”

Apparently many of the spectators and fellow racers also knew what was going on because I started hearing people cheer me on. “Just two more miles, you can do it.” “Looking good, keep it up.” “Just a few more blocks.” “Don’t give up, you got this.” Their words of encouragement were just what I needed to keep pushing forward. Then, when I hit the last mile, another runner pulled up beside me, just as exhausted as I was and said, “Do you think we can pick off 10 people before the finish line?” Now at this point I was really hurting and my mind was still insisting that I drop out. But, I’ve always had a hard time turning down a challenge and without hesitation I replied, “I think we can pass a dozen.” “Let’s do it then,” he said.

So there we were. Two guys ready to give it our all for the last mile of the race. I wasn’t sure where the energy was going to come from, but I was ready to try. As we passed other runners, we heard, “Good job guys!” “Finish strong” “Way to go!”

My pace for that last mile was nearly a minute faster than my pace for the previous two miles and I know where I found the energy. It was in the words of encouragement that I was hearing all around me. We finally crossed the finish line, but we didn’t pass 12 people. We didn’t even pass 10. We passed eight. But that was eight more than I would have passed had my “encourager” not pulled up beside me and challenged me to go with him.

THE CHALLENGE

To view this week’s challenge, please visit www.insideARM.com website or click here.

THE REFLECTION

1. What did you learn about yourself this week as a result of completing this challenge?
2. How can you continue to benefit from this challenge in the future?
3. What was your biggest takeaway?
4. What positive changes could you make going forward in order to maximize the benefit of this challenge?
5. How would continual practice of this challenge change your life?

C’mon, you know you can do this! You’re almost there!

Gary Jensen
Editor | collector mentor

To download companion worksheets to use with The collector mentor Challenge, please visit www.collectormentor.com/thechallenge.

Photo on Flickr c/o ingorrr

THE LESSON – KNOCK THEIR SOCKS OFF

Last summer I was asked to give a presentation on how to deliver great customer service. It seems that today good customer service just isn’t good enough—it has to be great.

For an icebreaker activity, I decided to break the group into triads. I gave each triad a piece of flipchart paper and asked them to write a definition for great customer service. As expected, there were as many different definitions as there were groups. Coincidently, however, many of the definitions revolved around the same theme: You know it when you experience it. Isn’t that the truth?

Over the past few weeks, I’ve been re-reading the book, Sustaining Knock Your Socks Off Service. Although the book is nearly 20 years old, I noticed that it is still very relevant to delivering great customer service in 2010. One part in particular caught my attention, The Customer’s Five Criteria for Service. Looking back to last year’s training session, I couldn’t help but notice how the majority of groups’ definitions included one or more of these five criteria:

1. Reliability – The ability to provide what is promised, dependably and accurately.
2. Responsiveness – The willingness to help customers promptly. The turnaround time or response time.
3. Assurance - The knowledge displayed to customers, and your ability to convey trust, competence, and confidence.
4. Empathy – The degree of caring and individual attention you show customers. The warm feeling customers get when doing business with your organization.
5. Tangibles – The physical appearance of facilities and equipment. Your own and others’ appearance.”

 The book goes on to state that:

 In short, customers want you to be reliable and responsive; they want you to act in a manner that inspires confidence in your ability to meet their expectations; they want you to treat them as individuals and their concerns as important; and they want you to maintain a physical environment that enhances their experience of doing business with you. These five factors form the foundation upon which customers base their perceptions of your organization’s service quality.”

 Every time a customer comes in contact with your organization, it’s a Moment of Truth. Think of the five factors–reliability, responsiveness, assurance, empathy, and tangibles–as a template against which you can examine each Moment of Truth and determine what you need to measure, track, or be concerned with.”

THE CHALLENGE

To view this week’s challenge, please visit www.insideARM.com website or click here.

THE REFLECTION

1. What did you learn about yourself this week as a result of completing this challenge?
2. How can you continue to benefit from this challenge in the future?
3. What was your biggest takeaway?
4. What positive changes could you make going forward in order to maximize the benefit of this challenge?
5. How would continual practice of this challenge change your life?

Knock their socks off this week!

Gary Jensen
Editor | collector mentor

To download companion worksheets to use with The collector mentor Challenge, please visit www.collectormentor.com/thechallenge.

Photo on Flickr c/o dumbledad