Andre. Sam. Ashley. Jose. Tara-Ashley. Deunka. Aaron. Seth. These are a handful of the 20+ people who have made over a million dollars in revenue in their credit repair businesses over the past decade. For some, the buildup was slow and steady – with hitting a million dollars being the culmination of years of hard work and acquisition of technical knowledge. Others skyrocketed, going from living out of a car to a million in revenue within just two years. Most fought back against foreclosure, bankruptcy, and unfortunate life circumstances to build a powerful, million-dollar business.
The one thing all millionaire credit repair business owners have in common is that they took calculated risks.
If you're hungry for success or just fed up with the status quo of your credit repair business, take a page from millionaire business owners and start putting something on the line. Find the courage to attempt what you’ve never done and get ready for business results beyond what you can imagine.
Take Good Risks
Skydiving may excite some of you and terrify others. Going skydiving is a risk that comes with a huge thrill. Jumping out of a plane without all the proper training or gear is really risky and dangerous. We are not asking you to jump out of a plane without a parachute (literally or figuratively) to change your business. Successful credit repair businesses run on calculated risks that take courage, training, and practice – not thrill-seeking and put-it-all-on-the-line foolishness.
As noted in Psychology Today, Barbara Sahakian, Professor of Clinical Neuropsychology at the University of Cambridge School of Clinical Medicine, “good risk-taking can be taught.”
Good risk-taking is a habit that successful business owners all employ - more specifically, successful credit repair business owners.
So what are the smart habits these credit heroes practice to make millions of dollars in revenue? Whether you’re at the very beginning stage of wondering how to start a credit repair business or you’ve already gotten the ball rolling, you’ll benefit from learning the ten risks credit repair heroes take that other credit repair business owners won’t. And, in the process, you’ll change your clients’ lives.
1. They Put Passion for Change Before Profits
18th-century German philosopher Georg Wilhelm said,
“Nothing great in the world has been accomplished without passion.”
Two hundred years later, his wise words still ring true when it comes to life and business. One of the many common traits credit repair millionaires share is a commitment to letting their passion, their vision, and their purpose drive their actions.
Take Integrated Loan Assistance CEO Tara-Ashley Gable, founder and CEO of her own multi-million dollar credit repair business. Her leadership is driven by a larger purpose and passion for empowering others, day in and day out:
“If you can improve a person’s score so that the affiliate can sell them a loan or a car or whatever their business is, that’s going to be incredibly valuable to them. It will be life changing for the affiliate because it could double or triple their revenue. That’s how powerful [credit repair] is.”
Credit repair millionaires have a tireless passion for helping others.
Derrick Harper, a former member of the United States Air Force, turned an identified need within his own military base into a vision for his now multi-million dollar credit repair business.
“I had no idea that there was a market for credit repair until the base commander sent out a message to the Air Force, which I think was 40 to 80 thousand strong. My phone blew up–it went viral.”
Credit repair millionaires like Tara and Derek are successful because they’re continuously fueled by their passion for helping people, their visions to change people’s lives through financial empowerment, and by Credit Repair Cloud’s business growth tools and mentoring.
2. They Invest in Live Credit Repair Business Training and Events
When you’re running your own credit repair company, you’re constantly learning. You’re reading about industry trends, listening to podcasts, and watching educational videos to ensure that you’re continuously evolving.
Learning online will absolutely empower you with the tools you need to be successful; but if you’re looking to take your business to the next level, the best way to do this is to attend live training and events.
The most successful business owners get out there and get inspired by face-to-face, inspirational speeches given by industry leaders. They get out there and network with other credit repair business owners, even if it’s outside their comfort zone. They attend focused breakout sessions centered around specific topics and commit to continuously learning - even if it means admitting what they don’t know - yet!
And so should you!
3. They Let Go of Some Clients to Focus on Helping the Most People Possible
Credit heroes have the most impact on people who are ready to make a change. You can have your vision in place, fueled by your passion, and train on the best dispute tactics, but if you’re not reaching the best clients for your business, you can still fail. You have to strategically identify, target, and pursue the right kind of people, and let the others go.
It can feel like you’re wasting hot leads by letting some people go, particularly when you’re starting out. However, it’s important to recognize that, you’re actually weeding out people who may waste your time because they aren’t ready to make a change.
The right kind of people for your credit repair business are:
- Ready to adjust their financial habits
- Looking to buy a house
- Focused on getting a reliable car
- Tired of being stuck in the debt cycle
Let go of what’s not necessary to focus on what’s most profitable. Perhaps you target people who are turned down for a mortgage but have a FICO score in a specific range. By becoming clear about who exactly you can and want to help, you’ll focus your client list in a very effective way.
It seems risky, right? Letting go of clients to go and look for more? But think about it. If you take on clients who you simply can’t help, you’re wasting precious time that you could be using on your niche set of customers.
4. They Tell Their Personal Stories
To win the trust of these niche customers who are on a journey to repair their credit, you have to be authentic. Credit repair millionaires are honest about what they’ve been through. Credit heroes own their journey from hard times to better days, and share their personal stories to inspire their customers and business affiliates.
Take Sam Naquin, for example, a former loan officer who now runs a credit repair business in Texas with nearly 1,000 clients and over a million dollars in revenue. He took his own life-altering experience with divorce and resulting bankruptcy–his own personal crisis–and transformed this adversity into opportunity.
“I was really humbled. It taught me how difficult that process is and how there’s not a lot of help out there.”
As a credit repair business owner, he shares his struggles with clients and partners to connect with them and create a relationship that’s truly meaningful - and more likely to be successful.
Tracy Arnett, another credit repair millionaire with over 1,000 monthly clients, openly shares how he started his business after he became a victim of identity theft at 18 years old. Like most identity theft victims, Tracy was completely blindsided by the fraudulent activity on his account. He was left with a mess of 20 new credit lines opened in his name.
After navigating the trials and tribulations of working with a law firm, feeling helpless and unsatisfied, then calling credit companies himself, he realized he could help others overcome challenging financial situations through starting his own credit repair business.
Just like all people, credit repair millionaires have unique stories. They encounter adversity and they push through that adversity. By sharing their hardships and how they got through them with others, they spark human connections that become the foundations of their business.
5. They Fire Business Partners and Learn How to Choose Their Business Partners Wisely
Personal connections attract customers and business partners. Credit heroes are focused on their mission and are very careful about who they trust as a partner or affiliate. They look for people with good work ethics and strong morals - people who are committed to being transparent with clients about what they need to do to improve their credit scores.
Credit repair business owners also make sure to choose business partners who are experts in the business. This is why credit repair business owners who choose Credit Repair Cloud as a strategic partner are able to ramp up their businesses from startup to millions in revenue within just a few years. Credit Repair Cloud provides access to the best industry training, world-class business coaches, and a community of dedicated credit heroes who are excited about what they do every day!
6. They Work For Free
One of the best-kept secrets of credit repair business success is being a person of integrity. Heroes are not only strong and brave, they really care about making their world a better place. Credit repair business owner and community leader Andre Coakley (pictured above at a speaking event) walks that talk through his commitment to his community, speaking in schools and even prisons about credit every week.
Texas Custom Credit Repair, which rakes in more than a million dollars in revenue, gives discounts to people serving the community and the nation. Teachers, first responders, and current and former military service people receive a ten percent discount on credit repair services.
Offering discounts to help community members and dedicating your time and money to local causes not only empowers people who need help; it also gives credit repair business owners a deeper sense of meaning behind their daily work, which fuels their passion to succeed even more.
7. They Spend Profits on Their Business
In addition to investing in their communities, credit repair millionaires invest in their own businesses. By empowering themselves, their partners, and their affiliates with the right tools, they’re able to bring on more clients and more effectively repair their credit.
Take credit repair millionaire Jeff Rubens as an example. After starting his credit repair business and getting an influx of clients, he quickly realized that he couldn’t scale his business through manual, time-consuming work. Categorizing and organizing client files was eating into productivity. He invested in credit repair software to automate manual business tasks and freed up valuable time to focus on other aspects of his business.
8. They Invest in Local Advertising to Build Awareness with New Audiences
Local advertising sets credit repair heroes apart from average businesses because it gives you a personality. People in your community who are suffering from poor credit scores and financial struggles do not want to spend their money on a heartless business. They are looking for a financial partner who will go to bat for them and fully commit to raising their credit score.
That’s why one of the most crucial aspects of marketing that credit repair millionaires focus on is local advertising. They take advantage of opportunities to show future credit repair clients who they are, not just what they do.
For instance, Jon Weiner and longtime acquaintance John Santos, owners of Second Sunrise Credit Repair Service, go on local radio shows to discuss credit repair and connect with people on a personal level.
“We go on a local mortgage broker’s radio show occasionally and talk about credit repair and educate people about credit and what they need to know. We will help them move forward from where they are to getting a mortgage.”
Consider your personality and your natural interests and abilities to determine what kind of off-line advertising fits you.
Do you connect better one-on-one or with a group of people? Do you enjoy helping out with community service projects? Are you someone who likes to teach or lead book clubs? Are you a writer who likes to blog?
Even if you’re an introvert who would never hop on a radio show, you can broadcast your business through personal involvement in Habitat for Humanity projects or mentoring a child in your local Boys and Girls Club. You can start a blog where you highlight ways to improve a credit score. As you build a network in your community and make it known that you offer credit repair services, you’ll tap into new audiences. With the right connections, you can dramatically expand your reach and grow your list of customers who need your help.
9. They Turn Negativity into Opportunity
Sometimes these credit repair millionaires need help, too. Whether facing bankruptcy, divorce, identity theft, or any other transformative life event, credit repair millionaires subscribe to the philosophy Albert Einstein did:
“In the middle of difficulty lies opportunity.”
The difference between successful credit repair business owners and others? They help themselves.
Credit repair millionaires peer inside their difficult experiences and look for the lessons; these lessons and experiences make these entrepreneurs more empathetic to the financial struggles others face.
Credit repair business owners can often relate to facing and overcoming adversity, which motivates them to work harder to help their clients get through it.
To become millionaires, these business owners took the lemon life handed them and consciously decided to make a sweet pitcher of lemonade!
10. They Face Their Fears
To think, act, and eventually live like these real-life credit repair millionaires, there’s no doubt that you have to be strategic.
You also have to adopt a “face your fears” attitude. Whether it’s taking that first step to actually start your own credit repair company or forming your first partnership with a local mortgage company, you just have to go for it. Anything that isn’t familiar to us will normally make us feel uncomfortable, but by facing your fear of failure and having faith in yourself, you’ll develop courage in each step.
It’s true. Courage, like a muscle, is something that can only be developed by trying. When you face your fears, you soon learn that what you feared wasn’t so bad after all and you build the courage to do even more.
Practicing good risk-taking behavior is something you can learn. Start by taking a few of these risks to become a more proactive, more confident credit repair business owner this year. You’ll reap the rewards of your hard work and smart risks.
In addition to modeling the actions of credit repair millionaires, you’ll feel even more empowered to run your credit repair company by taking free online training. Learn how to land clients, get good credit repair results, utilize helpful credit repair business software that lightens your workload, and more.
The Cost of Average
There is nothing inherently wrong with wanting to achieve good-enough success and maintain an average lifestyle. Many people feel comfortable and safe in staying where they have been their whole lives, even if they complain that they want more out of life.
Most people are afraid to reach levels of success for which they don’t have role models.
Born of this fear, some argue that high achievement is in opposition to gratitude and humility, or that simply getting by is enough and doesn’t hurt anyone.
They couldn’t be more wrong.
When you are grateful for and humble about what you have, you understand your life is what you make from what you’ve been given, and that is a high responsibility. You begin to see that playing small makes less of what you do have. You recognize that staying in your safe zone assumes that you were meant to only keep what you have and not grow beyond that. When you are grateful for each and every ability and opportunity you have, you begin to understand that they are not only for you, but for your community, your family, and your life’s legacy.
It’s important to understand that average success is a choice – and it comes at a cost.
The cost of average is different for each person, but it will cost you something. The price for limiting your potential to your comfort zone could be:
- Leaving money on the table that another brave risk-taker will go after and acquire
- Stealing from yourself the chance to find courage, leadership, and your own strength
- Feeling stuck or fearful without anything to show (because even brave and courageous business owners feel afraid or stuck at times)
- Failing to share your gifts and help others in your own unique way
- Staying up nights with “What if”
- Wondering if your kids missed out on opportunities you could have given them
What you see on the other side of risk will be unique to you. And, chances are, it’s worth the bold moves you have to take to get to the goal.
As a credit repair business owner, settling for average also costs your clients. You can help 10 people a month to shake off the weight of debt and poor credit, but if you save 100 people from the despair of poor credit and those people all go tell ten more people how to break free from the bad credit cycle... imagine how many more lives you can change by tapping into your courage and taking smart risks to grow towards a bigger, better business!
The bridge from average to extraordinary is built with bold action. Learn from credit heroes who’ve gone before how to take smart risks that get you closer to your dreams, one step at a time.
Build your credit repair business with a team who believes in the power of taking risks and changing lives. Learn how to start your credit repair business today.