Blog


Here at the offices of Kearns, Brinen & Monaghan our creative team is constantly looking to better inform our clients on the business world. With hundereds of years of combined experience pulsing through the veins of the office, it is only right that we pass on this knowledge to you. Take a moment to explore our blog and find what the men and women of our work force have felt could better you and your business! 


4 Ways on How Credit Applications Can Be Your Greatest Utility

In the world of business there is only one thing that is more valuable than money; that is information. Information is what keeps you on top of the game and puts you in the best position to collect from your client.

Within credit applications, a plethora of information can be found. Information such as current and former addresses that are personal and business related, the different lines of credit in use and the interest that is included on the past due payments, and also the information of their references that know the character of the customer....


Is It Time to Move on to a Collection Agency?

If you are a business owner and ever have to ask yourself the question above, then you have needed our service at one point in time. However, the importance of timing can not be any more crucial in placing delinquent accounts. Debt is not like fine wine, it does not become better with age. With a management team of over 100 years of combined experience, Kearns, Brinen & Monaghan has a few tips to share to keep your bottom line secure and increase your cash flow....

 


What is more important to a business, finding new customers or keeping old ones? Sure acquiring new clients is how businesses grow but it is not how they stay in business. As important as it may be to move forward, it is key to build relationships for the long run.

Relationship marketing is easily one of the most underrated and under used strategies in the business world today. Companies spend all their time and money in bringing in new clients, when in fact they are sitting on a gold mine the entire time. There are many different numbers that are thrown around, but the general consensus is that it cost roughly 4-10 times more to acquire a new client than it does to retain a valued customer. Keeping this in mind, it is crucial to be able to have ideas and strategies to maintain these clients....


The first step in joining a collection agency is identifying the difference between a customer and a debtor. The major difference between the two is obviously the money that ends up in your pocket, however how can you tell a customer is turning into a debtor without it being too late? Here at Kearns, Brinen & Monaghan we use something called the Red Flag System. This system will help save you time and money on your delinquent accounts....


Do You Know Who is Handling Your Money?

Getting down to the brass tacks and logistics of business, there is 2 things every business have in common; time and money. Every business wants to make as much money as possible in as short time as possible for as long as possible. Words like continuity, longevity, and success come to mind when these factors are mentioned. However, what happens when the world turns against you and you are left with in the dust watching your client ride into the sunset with your product and the money he owes you in his hand? Well, it would be time to get some professionals involved.

The first and biggest question that should be in the forefront of your mind when making decisions about your business is “who or what is handling our assets?”. What we must do is first look at the qualifications and risks that go into what will yield the best results of getting your hard-earned cash back....