Meet Adam

Consultant/Mentor

Hi, my name is Adam Stewart, Debt Collection Expert, Insurance Litigation Expert, Outsourcing Expert and now available as a Consultant/Mentor.

If you have ever wanted to start your own business, build it up and sell it, I can help with that.

If you have a successful business now and just need a helping hand, I am more than happy to help.

I can share some of my thoughts and my story of how I got started so you can hopefully relate.

Debt collection is not the sort of thing you wake up one morning and say “Yes, this is the career for me!”, at least that’s not my experience.
At Curtin University ( Western Australia), I obtained a Bachelor of Business with a major in Marketing. This was an exciting time in my life and I was determined to be successful. I started in the travel industry and was really going places. This was a tumultuous time for me as I was a heavy drinker from an early age and I found during my 20’s and 30’s this turned from heavy drinking into “What day is it officer?” Not great for a successful marketing career!

Needless to say, my successful marketing career never really took off because of the drinking and partying. I had many jobs during this time and some failed businesses. I ended up working in the insurance industry, for some large insurers processing motor vehicle claims. I then moved into claims recoveries, again for a large international broker. I found I was good at the recoveries and I found it challenging. I think this was the initial key for me – to find something I was good at and I was interested in. I then worked for a short time at Collection House.

Due to my increasing interest in the industry, I managed to be one of the top collectors in my team, so I’m sort of proud of that. It was great to get an idea of how a large collection company operates- what the pros and cons of a large company are, compared to a smaller, more agile one.

At the ripe old age of 39 I decided to cut out the booze and the partying and get serious about life. Best thing I ever did, looking back.
Around this time, I was working for a large insurance company, heading up their claims recoveries division. I found, once I got serious about my career, I was actually very good at locating missing people that owed money and then negotiating to get them to pay. I did an investigations course to learn more about skip tracing and I studied the collection industry and started research on how to start my own collection agency.

My first business, Debt Recoveries Australia, was born in 2002. I was living in a one bedroom flat in Balaclava and ran the business from that flat and a P.O. Box in Balaclava. Right from the start, I made all my plans with the big picture in mind. Everything from the name, website, office space and debt collection software, was chosen with the end goal in mind – to be the most successful and profitable debt collection agency in Australia.

This, I believe, was one of the keys to my success. Even though I was small at the time (got to start somewhere), everything was planned as if I was already a large, successful debt collection agency.

On more clients since Debtcol allowed me to expand (and it expanded with me), allowing for flexibility and adaptation of my business as it grew.

Steady growth over the years was achieved with careful planning and goal-setting.

Constant sales and marketing meant new clients came very easilyandmeant I very quickly moved the office from that one bedroom flat into an office in the city. We very quicklyended up with offices all over Australia. Demand for legal services lead to the addition of a legal arm in 2012, called ADC Legal Litigation Lawyers. I’m not a lawyer, but guess what? You don’t have to be, to start your own law firm. I hired a lawyer, brought them on as a non- shareholding Director. This was another big service we could offer for our clients.

By 2013, Debt Recoveries Australia, along with ADC Legal, was well on the way to becoming one of the most successful debt collections agencies and litigation firms in Australia. In order to accommodate the increasing demand for our services and to provide the best possible service for these clients, we had to have the manpower to back this up.

Setting up a Philippines office meant we could afford to have twice as many staff, passing on the saving to our clients by way of cheaper commission rates. We were also able to provide a much better service since we now have a surplus of staff to perform “back office” administrative duties and debt collection support.

I studied my competitors, who all had offshore teams and I copied what they had already done. I incorporated my own outsourcing company in the Philippines, called Nova Team Solutions.

This was a stand-alone company, that could not only service DRA and ADC Legal, but also other Aussie companies. that had a need for outsourcing.; Nova was set up in 2014 and has been quite successful and profitable, to the DRA Group of companies.

Keeping in mind my mantra of “starting with the end in mind” I set up all three companies to be ‘stand-alone” companies and businesses, so each one could eventually be sold separately, or two together, or all of them as a bundle.

I spent three years planning my exit, -working on revenue and profit for all three companies, eliminating any debt, studying potential purchasers, finding the perfect business broker. I then went to market and specifically targeted only 10 companies to be able to tender on the sale.

Another rule I picked up along the way and so glad I stuck to it was “NEVER give away equity”. Can’t remember where I read it or who gave me the tip, but I always remembered it and stuck to it.

I was eventually able to sell all three businesses as a bundle, in 2023 and pocketed 100% of the sale myself, not having to give any away to partners, salient equity-holders or investors.

Now, I devote my time to mentoring and working on special projects, for past clients and anyone who may benefit from my experience and services.

Thanks for reading my story and I wish you the best if you are just starting out, or if you are planning to get bigger, or planning on exiting.
Good luck and I would love to hear from you so I can share my experience with you.

Please contact me on +61 0403 429 951 or [email protected]
Our website is www.dcgadvisory.com