This Dad Built A Million-Dollar, One-Person Business By Finding Billing Mistakes For Retailers [Forbes]
VictoryShares Protect America ETF (SHLD)
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Source: Forbes
When big retailers order huge shipments of clothing made overseas, the bills from transportation companies are often riddled with costly errors—mistakes they may never find. Steven Ferreira, founder and CEO of Ocean Audit , has broken $1 million in a business he runs from a coworking space in Greater Hartford, Ct., by doing the detective work to find these mistakes and helping the retailers get refunds. Last year, his best one to date, the father of three says he hit $1.7 million in annual revenue and turned a profit. Under Ferreira's business model, his firm keeps 50% of the money he recoups for each client. Ocean Audit's business model is similar to that of medical negotiation firms, where experts in medical coding help patients identify overcharges on medical bills and get medical providers to fix the mistakes, in exchange for a percentage of the money saved. Because few people have the expertise to both uncover the errors and negotiate with the companies doing the
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