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For anyone just getting a start in collections, if you want to see what is possible, look no further than Meg Scotty. Like most of the people in this industry, she didn’t grow up dreaming of owning a collection operation, but falling in love with the people and the process has lead her to a career where she now owns the agency she started working at 39 years ago. Read on to learn more about Meg, where she gets her best thinking done, and how designing dresses for walking down the aisle helped pay her way through school.
Name: Meg Scotty
Job Title: CEO/Owner
Company: Brennan & Clark, Ltd., LLC
Length of time at current company: 39 years
Length of time in industry: 39 years
How did you get your start in the industry?
As with most folks in this space, as a little girl, I did not dream of growing up and becoming a bill collector!
I had a good friend who worked for Brennan & Clark, and they were looking for someone to consult for some of their customers. So I was hired to act as an Out Source Consultant and was sent into a company to write their Credit app, training program, and collection processes. I trained the staff at the company; we made collection calls and anything that didn’t pay I sent to B&C for third party collections. Now, my background wasn’t in the receivable space and my boss said “You are in the ‘people business.’ You understand people, understand contracts, and can certainly train people.” I remained on site as a consultant for six months. And then was hired full time as an employee – my passion always with setting up systems, policies, processes and training. I also learned I really enjoyed the collecting and the world of negotiations.
What is your career highlight so far?
I learned the business and have become a student of negotiations. Dare I say I have mastered the art – however, I am very passionate about the topic.
I grew the company I now own from a small family-owned business to a thriving organization with depth.
I bought the company – little old me took the risk, embraced the challenge, and have gone from a scared entrepreneur to a confident business owner.
When or how are you most productive?
I am most productive first thing in the morning. It is when I do all my least favorite activities – whether it is writing an email, writing a presentation, making unpleasant calls. I schedule all the hard stuff early when I feel the sharpest, and then I don’t let the thought of having to do it drag me down all day.
I do my best thinking and planning on a long bike ride or hike – my mind is less busy. I then jot notes when I am stretching.
Which industry professional do you admire most?
I have a few mentors that I keep in touch with, get advice from – and they act as my Advisory Committee. I can’t name just one.
What is one thing you do better than everyone else?
I wish I have an answer for this. I continually search for ways to “get ahead”, or “find efficiencies”. I know I am pretty good at looking at issues, things, relationships from every angle . I am pretty good at finding commonalities and getting buy in on from people on items so that there is a cohesive and synergistic environment.
What do you like most about this industry?
I really enjoy the strategic side of collections – finding the right approach that leads to a win in negotiation. Having solid and frequent successes strengthens my client relationships and positions them for success. It’s a challenging and quickly evolving field, and I like the challenge of staying a step ahead of those changes.
What is one thing you wish you could change about this industry?
Once and for all getting rid of the stigma that we are one rung below used car salespeople on the scale of likeability!
If you weren’t in this industry, what would you be doing?
I would have my own design shop. While I never dreamed of being a bill collector, I did dram of designing and making bridal gowns. I did do a fair amount of that to put myself through school.
Describe a typical work day.
– Early morning work out
– Answer emails, make calls.
– Meetings with my Management Team
– Check ins with random folks around the office.
– Review data, office numbers, look at dashboard reports
– Work on projects (presentations, infrastructure changes, etc.
– Look at my calendar for next day and plan it out.
What is your guilty pleasure?
Getting out on the lake and ripping some carves on a slalom ski in Summer, or snow skiing.
Finding a delicious slice of carrot cake with a good cup of coffee.
What is the best advice you have ever received?
Live one day at a time. All your anxiety and worry come from looking into future. Am I good today?
The other is from Ted Lasso “Be a goldfish”
What are you currently reading?
“Leading Relationships” by Steve McClatchy
What is one fact you’d like everyone in the industry to know about you?
I really am easy going – despite the perception that people get when they meet me. I am high energy and people think I am pretty intense – I am not.
Who else would you like to see answer these questions?
Humberto Matz with Creditors Adjustment Bureau
