"If you set out to make money...you'll only grow so far." This advice is perhaps one of the most important snippets Credit Repair Cloud’s Founder and CEO, Daniel Rosen shared during the 2019 Credit Repair Expo.
Business owners who make decisions based on quick money grabs are stifling their growth. This short-term approach means neglecting building blocks that create a more stable and secure business. Without paying attention to broader long term business needs, credit repair businesses limit employee engagement, negatively affect client relationships, and miss opportunities for affiliate connections, which all have a direct impact on your bottom line.
To be successful, look at your strategy through a wider lens. Here are five things the best credit repair business owners focus on instead of only being all about the Benjamins.
1. Be a Part of Social Change
Credit Repair Cloud began with social change in mind.
Founder and CEO Daniel left home when he was 13 years old. As a young kid, without a high school degree, he spent years trying to make ends meet with sporadic gigs in show biz. Although he appeared to be successful from the outside looking in, Daniel lived life paycheck to paycheck. He always assumed homeownership would be out of reach. But then, at 40, he finally achieved his dreams and purchased his first home.
Unfortunately, shortly after one of his proudest lifetime achievements, a bank error almost forced him into bankruptcy. He was left fighting to protect everything he had. But rather than giving up, he forced himself to learn everything he could about credit to save what he’d worked nearly three decades to achieve.
That story is why Daniel developed Credit Repair Cloud. In solving his own credit issue, Daniel learned how hurtful the credit system was, and how it especially victimizes the poor, who always end up paying the most.
Daniel believes with every fiber of his being that the credit system is broken. His drive in life is to help people overcome a broken credit system that’s designed to keep people in debt.
His mission to create social change is also a magnet that attracts new credit repair specialists to join in the revolution. From that passion comes success, as just last year, more than 25 credit repair specialists joined the millionaires club thanks to their dedication to social change.
2. Help Your Community
Credit repair businesses have the opportunity to impact their communities in many ways:
- Helping restore credit and wealth in your community
- Giving jobs to members within your community
- Providing credit education through community outreach
For a great example of community outreach, look no further than the kings of credit Andre Coakley, Jose Rodriguez, and Derrick Harper. Each of these credit repair specialists make it a point to regularly speak about credit scores at:
- High schools
- Community events
Their outreach is beneficial to their community, and as a byproduct, giving back is also helpful to them. By paying attention to philanthropy, each of these successful credit repair specialists is generating business value for themselves.
When members in their community need credit repair they already know who to ask. It’s an obvious choice to look to credit specialists who have already taken the time to showcase their skill sets, and provide value before signing them on as a paying client.
3. Embrace Problem-Solving
- You don’t have money to start a business
- You don’t have the education to become an entrepreneur
- You have too many life obstacles getting in the way
Look at the long list of successful credit repair specialists. Many of them have come through unspeakable hardships, from health scares to homelessness, to poor finances. Despite this adversity, they have still found a way to rise above and flourish.
What’s the common thread with each of these successful credit repair business owners? They used problem-solving to find a way to bootstrap their way into starting their businesses. They all continue to leverage their curiosity to keep their businesses growing, as well.
Daniel says, “When starting a business, don’t look at the mountain of tasks you need to accomplish. Look at the stepping stones that will allow you to climb the mountain.”
4. Learn New Modes of Operation
Business experts know manual processes won’t allow you to scale and grow a sustainable business.
The more you can automate your business, the more time you have to:
- Find leads
- Qualify clients
- Build your business’s foundation
Seth Mitchell is a great example of a credit repair expert who pushed himself to learn new methods to help more customers as he grew his credit repair business. As a first time entrepreneur, Seth realized how daunting a manual credit repair business was. So, he turned to his engineering background to uncover ways he could automate aspects of his credit repair business.
Specifically, he worked to automate:
- Importing credit reports
- Running credit report audits for new clients
- Producing dispute letters
By automating his business, he perfected what he calls his “effort to impact ratio.” He applies his energy toward what’s going to make the most moves for his business while letting automation take over tasks that were draining his energy.
Seth is only one great example of innovation in the credit repair space. There are plenty of experts and business strategies after which you can model your credit repair business. In fact, the best way for you to find new-to-you methods for your business is to pick the brains of the experts that came before you. Innovation isn’t always about reinventing the wheel.
5. Grow Your Network
Part of growing a successful credit repair business means learning new ways to expand your client list to help build your recurring revenue model. To do this, many credit repair specialists emphasize customer service, which helps with networking, word-of-mouth referrals, and affiliates.
Think of it this way: if your clients continue to love you, they will continue to recommend you to their networks.
If you don’t have an established client list, that’s no excuse. You can take control over building your network. Put on your best suit and get to work. Jose Rodriguez recommends meeting new affiliates by:
- Finding them at credit repair events
- Making in-person introductions at mortgage and real estate offices and car dealerships
- Becoming friends with CPAs and tax preparers
Don’t let money distract you as a business owner. Instead, focus on the elements that make you passionate about your exciting new business venture, and the stepping stones that lead to success. If you focus on these elements, you’re sure to make more informed decisions that will eventually make your profits soar.
Are you ready to start a credit repair business? Check out our free online training and learn how you can become a credit repair hero today!