There’s a good reason there are more than 14,000 bail bond agents across the country. This is a great career choice for many that can lend itself to a free lifestyle.
Not every bail bond agent has this kind of success though. It takes hard work and the right strategies to build up a strong, efficient business model. The best way to do that is to follow the advice of people who have made the right choices and steps to create those kinds of practices.
Luckily for you, we are those people and we’ve created a guide to the most common bonds agent mistakes that you should try to avoid at all costs to help you be as successful as possible.
1. Missing Information
When you’re collecting or posting bail for someone who is in the police’s custody, it’s critical to get all of their information up front. If you miss anything or they give you inaccurate details, you’ll have a harder time getting paid. And we all know that’s not good for business.
The best way to ensure that you get everything you need is to have a detailed, specific process that you follow with each transaction. Creating this type of system keeps you away from any guesswork and makes your job much easier.
It’s also a good idea to require proof of information like identity and addresses to ensure it’s valid.
2. Failing to Market
No business can survive without some kind of marketing. It’s the best way to get your name out to new potential customers and bring in new clients.
Marketing isn’t a one-size-fits-all enterprise, it’s important to cater to your target audience and create campaigns that will appeal the most to them. But everyone can agree that the more exposure of your name and services the better. Try to be creative in how you go about this and possibly even enlist a professional to help you reach your goals.
Those bail bonds agents who wait for customers to come to them have a harder time growing their businesses.
3. Not Assigning Responsibilities
Many people who are starting a bonds company think that they need to handle everything on their own. But this simply isn’t the case and can actually be very detrimental to the company as a whole.
Those small businesses that can successfully delegate and assign tasks to each employee do much better in the long run.
When everyone knows what their responsibilities are, everything gets done and nothing falls through the cracks. Employees often take more pride in their work and do a better job when they know exactly what is expected of them. This is a great way to stay organized and avoid crisis situations.
4. Avoiding Phone Calls
The only way to grow your business is to continually get new clients and the very best way to do that is to make sure you answer your phone every time.
This isn’t to say that you have to accept every potential client that comes your way, there are definitely cases that should be avoided. But the more cases you take on and the more people you help, the more they will talk you up to their friends and generate business for you.
Promptly answering calls and providing services is a great way to build a positive reputation in the community. Reputation is everything to a small business.
5. Improper Record Keeping
While there is a lot of adventure and fun to becoming a bonds agent, there’s also the business side that is just as important. Many take all the right steps to become a licensed bonds agent and then fail to thrive because they neglect their record keeping.
It’s crucial to take all of those business management steps to ensure you get paid and can continue to be open.
These records should include every client you have and the details of their case. Don’t forget any necessary tax information and other business expenses. All of these records will come in handy and make your job easier if something happens down the road that requires you to look back.
6. Limiting Technology Use
Technology has infiltrated every aspect of our society, including businesses. Businesses that embrace technology and use it to their advantage often experience better growth than those that don’t.
This definitely includes bail bonds service companies, especially in regards to their website and social media presence. These are both important ways to reach new customers who are in a pinch and need bail bonds quickly. If you take the time to set these things up and continually upgrade them with the times, you’ll see an increase in clients.
7. Acting Unprofessional
Offering a bail bonds service isn’t your typical office or nine to five job, it’s a unique position to be in. Many bail bonds take that difference to the extreme and forget it’s still a profession.
The only way to grow your business to the successful level you’re looking for is to continually act as professionally as possible.
This means that you show up when you say you will, you treat others with respect, you look the part, and you do what you say you’re going to do. The more you treat your business like a legitimate enterprise, the more others will as well. Don’t get sucked into the laid-back nature and not take yourself seriously.
Bonds Agent Mistakes to Avoid
When you develop a strong bail bond agent business, you’ll have the freedom to work when and where you want. You’ll make a decent living and still have time to relax and enjoy your hobbies. And no two days will be the same, there’s always an exciting turn around the corner.
Avoiding these bail bonds agent mistakes will help you develop and scale your business quick and efficient. This way you can enjoy all of those benefits much faster and with much less headache.
If you’re interested in starting a bail bond business and would like more advice and support, contact us today!