Closeout Liquidation – How Companies Can Avoid It And Stay In Business

Closeout Liquidation – How Companies Can Avoid It And Stay In Business

Closeout Liquidation – How Companies Can Avoid It And Stay In Business

So it’s come to this? Having to consider a closeout liquidation because there isn’t enough business to stay afloat? Has the economy taken its toll and you just can’t keep up with the bills? You’ve tried cutting costs where you can, and maybe even had to do layoffs, but it still wasn’t enough? There is hope!

A recent (October 2009) US Chamber Magazine article cited how debt collection was the leading nationwide service request among legal service plan members of Pre-Paid Legal Services, Inc., during the second quarter of 2009. The ability to collect on outstanding debt from customers often can mean the difference in being able to keep the lights on and doors open. Many companies have so much outstanding debt, that if they were able to collect on it, their businesses might not have to close. With an infusion of cash into their bottom lines, from money that was already due to them they can avoid layoffs of their most valuable human resources, weather the economy until better times and just plain pay their bills.

Sounds simple enough, so why don’t all business owners do just that? After all, they already provided a service or product. The reason; more money out of their pockets. Lots of companies are already bleeding at the seams, and they just don’t have the liquid cash to allocate towards services that can help them. Credit lines and cash reserves are so exhausted, it’s hard to understand that further cost of doing business can in fact save them, but they can’t afford to. It becomes a conundrum and in the end, the owners face situations like closeout liquidation. Add to the fact that if they are able to obtain such services, there is often a percentage or fee attached in obtaining the
debt, almost making the effort a moot point! Imagine knowing for example, that you have several hundred dollars you can collect on, but it would cost that same
several hundred to do it with a service or attorney. The agony an owner must feel knowing the answers are within reach, but then again, not.

Enter, Pre-Paid Legal Service, Inc. and their business plan membership. With membership, owners can have several collection letters written on their behalf each month. The same letters that could cost thousands via traditional methods. I remember talking with a fellow Chamber member and it was touted that collection letters cost  between $800 and $1,000 dollars. With Pre-Paid Legal, the cost of each letter can be as low as $7.50 each! Also, they don’t keep ANY of the money they helped to get back. Imagine the cash infusion to most bottom lines that can make!

Debt collection is just merely one area of benefit in the entire membership. There is business consulting in different disciplines too. Each designed to assist the owners in all areas to run an entire business successfully from the start. For small businesses especially, there often isn’t a technology, tax and/or accounting, advertising, human resources, or finance expert on staff. Yet to be successful they are expected to tackle any issues in these areas or risk possible non compliance or deficiency. The
membership again helps to give owners assistance in these other areas, but cost effectively.

It is conceivable that an owner on the cusp of closing its doors for good can turn that all around with these valuable services. Many companies are doing just that.  As a business owner it can be a very daunting thing facing a closeout liquidation. Everything you have spent in time, money and effort is now at risk if you are. To learn more about the ways talked about in this article on how to avoid this situation and stay in business with a Pre-Paid Legal business membership, visit Johnny Pineda’s Small Business Slight Edge Blastoff site now.

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2 Responses to “Closeout Liquidation – How Companies Can Avoid It And Stay In Business”

  1. I’ve been looking all over the place for this specific marketing information… I’m sure thankful somebody by chance has the explanation to an incredibly basic query. You have got zero idea the number of internet sites I have recently been to throughout the last hours. I am grateful for that information and facts

    • admin says:

      Harold, thanks for the kind words and I’m glad I can help. Is there anything I can do to further help in the context of what was said in the article? Again, thanks for the comments!

      ~Johnny

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