Debt Collections…Lessons Learned from Buying Running Shoes

Searching for the optimal running shoe has become somewhat of hobby.  What I didn’t expect was what it would teach me about debt collections.

Three years ago I started distance trail running and have been on a quest for the perfect running shoe…something to provide incremental improvements in performance.  I studied gear and shoes at local stores carefully; I asked friends for opinions and then I did what we naturally do…sought out the products used by the market leaders.

I set out on the trails equipped with the same product used by my favorite elite ultra marathon runner, Killian Jornet.  My excitement created momentum and initially I felt great but then something unexpected happened click to read more.

I didn’t get any faster, couldn’t run any longer I had more blisters and more injuries.  But why? The truth is there are running shoes much better suited for my running style, my stride and my foot strike.

I was left with only two good options.  Change the way I run to fit the shoes or find shoes that fit the way I run.  After several failed attempts trying to adjust my running style to fit the “best” shoes I gave up and picked a shoe that fit the way I run.

In my experience the same has been true in debt collections.  Copying what someone else is doing and applying it to different environment hasn’t produced expected results.   We discovered two characteristics of the higher performing strategies we’ve implemented.

#1 Implementing well-matched products and strategies to the environment for which they will be used

#2 Adjusting the environment to match the way in which the products and strategies were designed.

So the lesson I learned about debt collections, from buying running shoes, is that the best products and strategies are matched to the environment for which they will be used and optimized for a specific desired outcome.

Please share your own experience.

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