Success is measured differently by everyone. Whether it’s being calculated by numbers, feedback, or any other factor, all companies strive for success; how it’s measured is different for everyone, however. F.H. Cann & Associates is unique in that they can be measured from various angles as a company and can still be considered an undeniable success story. Through their core values of respect, care, and recovery, F.H. Cann & Associates are leaders in their industry on every front.

F.H. Cann & Associates has a reputation next to none. As leaders in the Business Process Outsourcing and Accounts Receivable Management fields, F.H. Cann & Associates knows the importance of being knowledgeable, flexible, and respectful. It’s with these traits, that F.H Cann & Associates has grown from a small business to one that continues to grow twenty years later. Here are 4 things that you didn’t know about F.H Cann & Associates.

Award Winners

While a company’s success is measured in many different ways, one of the easiest ways to define success is through achievements awarded to them by industry leaders. F.H Cann & Associates has been honored to receive many awards in their twenty years and those achievements haven’t slowed down. Most recently, they were recognized with the 2020 Best of North Andover Award which is given to companies that have achieved great marketing success in their industry.

Nationwide Excellence

F.H. Cann & Associates has grown from a local business located in Boston, Massachusetts to a nationwide brand with clients in a variety of industries. How have they achieved this reputation? Through the “F.H. Cann difference”, as they’d call it. The F.H. Cann difference that sets them apart is providing their team an environment rooted in respect that can extended organically to their clients.

Community Contributions

When it comes to giving back, F.H. Cann & Associates knows the importance of doing so whenever and wherever they can. F.H. Cann & Associates has and continues to be involved in their community through both financial donations and volunteer work. Some notable alliances include Lazarus House Ministries, Veterans Assisting Veterans, and ARMing heroes. Learn more about F.H. Cann & Associates growth and contributions here.

Internal Growth

F.H. Cann & Associates is a firm believer that success starts from within. Without the best team being nurtured in the best environment, they could have never achieved the success that they know today. That’s why F.H. Cann & Associates continues to value respect for their team and clients, as well as provide them with up to date training on everything they need to continue succeeding and growing in their field. It’s with this reputation and care for their team that they’ve been able to hire and keep the best in customer-focused team in the industry!

F.H. Cann & Associates has worked hard to keep their status as leaders in the BPO and ARM services through their unwavering effort to continue striving for the best. Learn more about what goes on behind the scenes of F.H. Cann & Associates here.

 

How your business interacts with customers or clients can have a huge impact on their success and reputation of your business. Because of this, it’s vital that the management of your company trains every staff member, including all customer service representatives, on how to have successful telephone conversations with those who work with your business.

To help you in doing this, here are three things you should teach your employees about speaking with customers or clients on the phone.

Use Their Name

While telephone conversations can often be impersonal, one thing you can do to make them more personal is to use the name of their person you’re speaking to.

According to SkillsYouNeed.com, the trick here is knowing how to naturally use the person’s name without making it feel like you’re abusing it. If you’re able to find the balance here, you can make your callers feel valued and personally cared for by your business.

As a part of this, make sure you get the proper spelling and pronunciation for each person’s name that you’re speaking with. If this means having to ask them for clarification, do it. It’s better to take the time to get the name right than to use the wrong name or pronunciation and then have to face an uphill battle to build up your rapport again.

Work On Your Tone

If your employees spend a lot of time on the phone each day, it’s only natural that they won’t necessarily be happy and smiling for every moment of it. However, having a positive and friendly tone of voice can have a big impact on how your clients or customers feel after getting off the phone with customer service.

To address this, Susan Ward, a contributor to The Balance Small Business, recommends that you train your employees on how to have a positive tone of voice and use positive vocabulary for every phone conversation. By doing something as simple as smiling while talking, a positive tone can be conveyed without sounding over-the-top or forced.

Learn To De-escalate

In many cases, customers or clients will be calling your employees about issues they’re having. As a result, these conversations may include people who aren’t very happy at the moment.

While it can be easy to allow your own emotions to be upset, Andreas Rivera, a contributor to Business News Daily, suggests that you teach your employees how to de-escalate conversations when the customer or client is angry or upset. Some of these strategies include things like being understanding and reassuring as well as maintaining a calm voice.

If you want to improve the customer service for your business, consider using the tips mentioned above to train your employees on how to speak with customers or clients on the phone.

 

They say, “Bank will lend you a loan only when you do not need it.” Well, this is true to a greater extent. However, it highly depends on the fact of how you are approaching for the loan. In total, there are four types of business loans; named as long-term loans, short term loans, lines of credit, and alternative financing. However, the terms and conditions of these loans vary from each other, and each bank has its own set of policies and eligibility criteria regarding lending and borrowing.

If you happen to manage all that efficiently, it can only increase your chances of securing the loan successfully. Therefore make sure to fill the loan application after getting informed about all the ins and outs, borrowing policy, returning policy, and interest rate thoroughly. Furthermore, be mindful of choosing the type of loan, prevailing financial condition, credit management or score, loan term, APR (Annual Percentage Rate), business plan, penalty charges, down payment limitation, and finally, the bank’s reputation. If you have prepared yourself enough and worked on all these required items, then you can answer the bank’s concerns very quickly.

WHY DO YOU NEED A LOAN?

What is your purpose behind seeking a loan? Why do you need it? Where are you planning to spend the amount? Banks need to know the use of your loan, and you are supposed to persuade the lending party that the loan money is going to spend on a worthwhile venture. Also, it will add positively to the overall economy and be able to raise the total worth of the business exponentially.

How can you do this most effectively? Only by establishing a healthy business plan and figuring out the efficient repayment method. That further means that you need to pass the bank’s 5 Cs evaluation test successfully. These 5 Cs evaluate the risk factor and help bank understanding of whether the borrowing party is reliable or not:

1. THE CHARACTER

The character of the borrowing party enables the lending party to understand the history of the borrower better. His or her level of qualification, success history, past experiences, criminal background, family profile, credit score or history, and industry knowledge are needed to counterbalance the effects of mistrust. The lender needs to know if the borrower is capable of managing the payment or not.

2. COLLATERAL

Collateral required to testify the capacity and capability of the borrowing party. It is a guarantee that the lending party likes to take to save their borrowed money. However, it depends wholly on the type and amount of loan, but in most cases, banks want to take property as collateral.

3. THE CAPACITY

The capacity to repay is the capability of business in which the borrowed money has spent, and the borrower is required to ensure that the company is profitable enough to follow the repayment plan even in the adverse economic conditions. To verify this, banks assess the debt-to-income ratio over a certain period and analyze the rate of overall cash flow. A reliable business loan calculator can help to calculate the time at which a borrowing party can return the loan payment. The calculation is straightforward and takes monthly cash flow in factor and calculates the overall interest rate. That eventually helps in deciding the loan payment and devising a returning plan.

4. THE CAPITAL

The capital is the most fundamental investment of any business. Banks find it more relieving if the capital investment of that particular business belongs to the borrower himself. If the borrower has himself or herself not invested in the market, then why should a bank do so? Additionally, if the owner has spent his or her money, then he or she may be more careful in making decisions, taking risks, and avoiding extempore decisions.

Also, banks like to invest in companies that already have enough capital, and they only need extra cash to extend the business scale. Instead of the parties that are thinking about taking the initiative or have just started a small startup.

5. CONDITIONS

Prevailing economic conditions play an essential role in deciding the fate of borrowing parties. It doesn’t matter how good is your business plan, your knowledge, how promising your business future is looking, and how good is your credit score. If the ongoing economic conditions and the stock market are not showing positive behavior, then all of these are utterly useless. Besides, political situations and industry trends are also essential to consider while creating a loan application. To which industry are you going to invest? How much profit is it? How much are you closer to your niche market? For example, since the invention of social media, digital marketing has taken over the place of print media and caters to a broader market comparatively. However, print media is almost coming to its end now and has only remained limited to packaging mostly.

Therefore this is a high time to invest in digital platforms in comparison to print media. Furthermore, political scenarios or social conditions also became a barrier sometimes. Nowadays, the Coronavirus outbreak has scathed global economic health and has dropped several international stock markets drastically. It has restricted business opportunities worldwide. The United States market drops almost 6%. In such conditions, getting a loan becomes extra tricky as it is not in the hands of the borrowing party and can ruin the whole planning and work of months.

HOW TO AVOID FAILURE?

Banks expect you to prove your worth and ability. For that, you required to pass through an extensive testing procedure that has described above. Most of the borrowers do fail because they work on the application process wrongly. They give preference to the factors that are not of much significance and ignore the important ones. If you want to avoid failure, make sure to keep a check on your credit score, decide a bank that offers the most suitable terms and conditions, make sure to have a healthy cash flow operation in the run, and gather all the required documents beforehand.

Furthermore, banks prefer those who are confident and seen as a trusted member of society. For that matter, you need to get your past tax files in check, clients’ profiles aligned, business reports together, and all the tangible assets well defined before your lending party to improve your odds of being approved. Also, check the lenders’ requirements thoroughly before making your pitch. Make sure to look for the minimum credit score because if your credit rate is lower than the required level, it will be marked by the bank as unfavorable. Secondly, check the debt-to-income ratio, and try to lower it by raising the credit score. Thirdly, make sure to have a consistent and positive employment history because some lenders do give extra consideration to this fact and can cancel your request based on this factor alone.

THE FINAL SUGGESTIONS

After doing all of this, if your application still gets denied, then consider writing a letter and try to learn the reason for cancellation. Secondly, you can get your application authorized by some authority, big party, or even get it referred by some trusted and well-established industry leader. To have a co-signer, you can improve the rate of success remarkably. And lastly, make sure to work on the factors that become the sole reason for cancellation and re-apply at the same bank because banks are investing money for your business, and doing that, they require your guarantee and surety. If you are under the impression that banks are likely to give you a business loan based on your business idea and capabilities alone, then, unfortunately, you are making a huge mistake. The lenders are not here to do charity but like to do profitable business and only prefer the parties that have already gained a name in their industries and need the loan to extend it further.