By Joseph Tilton – On
Michael Lamm gives insight into how to assess the value of your agency.
- Michael Lamm at Corporate Advisory Solutions helps people buy and sell companies
- Their company consults groups on growth and exit strategies
- Focusing on the debt collection industry - they valuate debt portfolios and collection law firms
- Key things to look at:
- Compliance capability
- Diverse revenue streams
- One thing you can do to get your agency ready to sell quickly is to make sure you have the proper financial controls in place
- You need to be able to quickly pull a spreadsheet or report and understand it
- Right now state government collections or municipal collections is a very hot market
- Expect to see AI as a trend in the next 5-10 years as a way to approach compliance and efficiency smarter
Looking for more debt collection industry information? Check out these resources covering How to Open a Debt Collection Agency Great Debt Collection Accomplishments and Staff Appreciation - Making a Great Collection Agency.
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