EP 97: A First Business at Age 70: I Only Regret Not Doing it Sooner
At age 70, when most people are settling down into retirement, Ed Silberstein decided to take a different path and start his own business. LES Collections (Compassionate Collections) started small and has grown into a successful and prosperous business over the past three years.
In this episode Ed talks about the experience of starting and running a business, and he shares some “tricks of the trade” – the tactics and skills that make Ed so extraordinarily good at collecting money.
Ed Silberstein went to college at the City University of New York, with a major in Accounting and Political Science. Following, he obtained his Masters of Social Work from Yeshiva University. Ed worked for over 17 years as an Executive Director in Jewish Community Centers in New York and Pennsylvania. It was there he began to develop his skills as a collector. He continued collections work as a part of his career when he left the social work realm and moved into the environmental field in 1987. In 2001, Ed began working solely in a collections capacity. He formed L.E.S., LLC Collections in 2008. His professional background in multiple fields helps him perform “compassionate collections”- taking into account the many factors that contribute to clients being late with payments and treating them with understanding and empathy.
In this Podcast we Cover:
- The Secret to Success with Collections
- What Compassionate Collections Means
- The hardest part about starting a business later in life
- Ed’s advice to someone who wants to start a business
- What it really takes to be successful in business
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