Business


27

Jan 2015

Managing Your Availability – Part 2 – Phones…the Key to Success

In Part 1 of Managing your Availability, I discussed how to “engage” a caller to gain their trust and confidence that you will get their loved one out of jail. In Part 2, I will discuss the importance managing your time, taking calls throughout the night and when you’re on vacation, along with your phone and support systems. These logistics all major parts in the...

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20

Jan 2015

Managing Your Availability – Part 1

  A fact of the matter is that to be successful in the bail industry, you must be available 24/7, regardless if you have help or not. You must be “on call” holidays, vacations and special events. I have been involved in negotiating bonds from Hawaii and fortunately had built relationships with other bail agents, so I could call them to handle the client and...

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How to Avoid Trouble – Part 4

30

Dec 2014

How to Avoid Trouble – Part 4

In How to Avoid Trouble – Part 3, I talked about the third step, ‘Securing Collateral’, in the four-step process that will help new bail agents avoid the risk of ending up in a bad situation that could affect the success, or not, of their business. In this blog, I will discuss the importance of getting your premium paid upfront before you write that bail...

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How to Avoid Trouble – Part 1

09

Dec 2014

How to Avoid Trouble – Part 1

It’s a known fact in the bail industry that the best way to minimize your risk with a new client is to perform a very thorough due diligence. Shortcuts could mean trouble that will come to haunt you. Don’t slack on the requirements that keep your business stable just to increase your competitiveness. It only takes one missing piece of vital information or one missing...

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The Importance of Completing Your Due Diligence

25

Nov 2014

The Importance of Completing Your Due Diligence

The Importance of Completing Your Due Diligence   The most successful bail agents have built their company’s based on performing careful due diligence. The process includes; initial assessments, background checks, verified collateral, and completed paperwork – these are the elements of the slow and steady growth I always talk about. Do all these things upfront and you will avoid forfeitures and protect your interest should...

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When Things Go Wrong in the Bail Business

30

Sep 2014

When Things Go Wrong in the Bail Business

When Things Go Wrong in the Bail Business   Are you familiar with the adage called “Murphy’s Law?” It states that “if anything can go wrong, it will go wrong.” Of course, this is not a real law, but a principle of human nature that has proven itself time and time again. In the bail industry what could possibly go wrong? The truth is that...

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Running a Bail Bond Business: Collateral, Transfer Bonds, Client Follow-Up, Exonerations & Notarizing Docs

16

Sep 2014

Running a Bail Bond Business: Collateral, Transfer Bonds, Client Follow-Up, Exonerations & Notarizing Docs

By now you have a good idea about what it entails to open your own bail bond business, but there are a few more details that I want to share with you before I move on to the next topic. Collateral is a big part of this business because no matter what, you must protect your investment in the defendant and the bond you post...

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Running a Bail Bond Business: Getting Bail Info & Posting the Bond

09

Sep 2014

Running a Bail Bond Business: Getting Bail Info & Posting the Bond

Running a Bail Bond Business: Getting Bail Info & Posting the Bond While bail information is available to the general public on state government websites and even some bail bond companies, you really want to do this research yourself and offer it as a special part of your service. Don’t ever tell a potential client that, “all you have to do is go on this...

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Managing your growing Bail Bond Business

12

Aug 2014

Managing your growing Bail Bond Business

Like any business, it will not run itself, at least, not in the beginning. Hard work and long hours are the only way to make a success of this, or any, business when you start from scratch. And, when it’s your business, you want to have your finger on the pulse. Most bail bond companies are family-owned and operated. The advantage of this is that...

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What’s a bail agent’s earning potential?

05

Aug 2014

What’s a bail agent’s earning potential?

Like any entrepreneurial business, the harder you work the greater the reward. And this concept will work for you as a bail agent too. Your earning potential is unlimited and entirely up to you. If you’re aggressive you could be looking at an income from $100,000 to $1 million in as little as two to three years. With typical income from bonds in the $500...

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