CWA Recovery, Inc. is a third party collection agency located in Los Angeles, CA. Specializing in collecting on delinquent and non-paying accounts while working very closely with the clients, today CWA recovery is almost an extension of their accounts receivable arm. And in case you are wondering what’s unique in CWA, the answer is, “what sets CWA apart is the way we do our job, utilizing professional and innovative methods to keep our clients relationships with their debtors intact.” The CWA service for receivables management caters to all- from standard collections, dispute resolutions, collections litigation to judgment recovery.
Armen Adjemian, CEO, CWA Recovery Inc, gives the Ebrandz team an exclusive interview regarding CWA’s mission, his passion and how both coincides to achieve one goal.
Kindly give us some dope on CWA, ‘the men’ behind it, and their making.
CWA is owned and managed by two professionals who have had extensive experience in the accounting and legal fields. My name is Armen Adjemian and I received my graduate degree in Accounting from the University of Southern California (USC). My colleague Chris Manderson graduated from UCLA law school.
The principles of CWA have worked for international firms and CWA has brought the professionalism and experience from those industries to the collections field.
How important have good employees been to your success?
It is not enough for someone to set up a business and feel confident that, whatever their pursuit, their business will successfully grow. In order for a business to be able to grow it must have a stable foundation, which starts with its employees. Without the cooperation and hard work of employees, CWA would not be as successful as it is today.
How many hours do you work a day on average?
On average, I put in about 10-12 hours a day. Whether I’m in the office taking phone calls, answering emails or at a meeting across town, I’m always working. Fortunately or unfortunately, technology today allows us to always be on top of things and work from remote locations.
How do you build a successful customer base?
I feel that networking is the key to building a successful customer base. Constantly interacting with colleagues and attending functions is the key for growth and success. You have to let people know what you do and then you have to remind them from time to time so that people will call you when they need your services. It’s never a bad thing to get out of your comfort zone and meet new people.
How did you decide on the location for your business?
Location was dependent on trying to minimize driving on a day to day basis and price and therefore we picked a location that would accomplish both of these factors.
What is your favorite aspect of being an entrepreneur?
The independence of being an entrepreneur is my favorite aspect. You are on your own to do things as you please and conduct your business as you find it best. There is no ceiling and you can accomplish and scale your business as fast or as large as possible.
How do you go about marketing your business? What has been your most successful form of marketing?
I have turned to several outlets of marketing including direct marketing through referrals, internet marketing through our website and becoming a member of a variety of organization such as the local chambers of commerce. Direct marketing through my network has been the most successful as it is for most businesses.
In one word, characterize your life as an entrepreneur.
What are your hobbies? What do you do in your non-work time?
I am a sport enthusiast. Whether it’s watching it on TV or actually playing, sports are a way of letting off some steam after a long day.
What makes you happy?
My family makes me very happy. They have supported me through all my ventures and they are the ones I look forward to see after work.
How can you prevent mistakes or do damage control?
In order to prevent mistakes, one must always be prepared for all potential outcomes, which means doing your homework. It is impossible to completely prevent mistakes, but you can definitely minimize you risk and hedge your bets if you do your research and study what other people have done in the particular situation you are in. Also, I find it very helpful to always have a plan B.