Welcome back, Credit Heroes! This week’s episode is the second part of my Q&A session with our very own resident credit repair expert, Corey Gray.
Last week, we answered a bunch of your burning questions, and today, we’re going to tend to a whole lot more. We’re going to be covering all sorts of topics and give tips regarding disputes, business management, marketing… You name it!
What makes this format so powerful is that all of the questions are coming directly from business owners or soon-to-be entrepreneurs who ran into some challenges real-world challenges.
If you’re looking to start or grow your credit repair business, there’s a good chance that you came across some of these obstacles yourself. Or you may encounter them at some point in the future, which is why you simply have to tune into today’s episode!
Answering your questions like this has been tremendous fun, and we’re probably going to organize these Q&A sessions more often. Let us know how you like them in the comments below or feel free to ask any of the burning questions you’d like an answer to.
Now, without further ado, let’s dive into your questions!
The number one way to keep your customers happy is to have steady progress. And you don’t need any additional services to achieve that.
You just have to work at a slower pace with a strong focus on providing consistent results. And there’s a particularly good reason for having to take things slow to be successful in the long run.
“If you dispute more than five or so items... you run the risk of the credit bureau, flagging your disputes is frivolous, and then you’re fighting that too.” - Daniel Rosen
Going by Corey’s cautious estimate, a single credit repair process can last between 6-18 months, depending on the individual scenario. If you manage expectations right away, you’re setting yourself up to do great long-term work, and provide regular wins for your clients. And on top of that, you’re still leaving a little room to exceed expectations if you manage to fix their scores quicker.
Coaching and credit repair seem like a natural fit because, in both scenarios, your main goal is to change people’s lives. Sure, it’s in different ways and different areas of life - but they’re complementary.
Combining any kind of people business with credit repair can be a great idea. Some professionals benefit directly from helping their clients improve their credit scores, which is why they offer it as part of their service. Mortgage brokers or realtors, for example.
But other types of businesses can fit with credit repair just as well. For instance, a lot of our Credit Repair Cloud customers own hair weave shops. Think about it - they’re in contact with people every day, they’re tuned into their problems, which makes it easier for them to sign up new clients and help them change their lives. It’s a win-win!
Affiliate marketing is one of the most effective approaches for credit repair businesses. We spoke about it already on the podcast, and you should make sure to check out that episode if you haven’t!
That being said, it’s always good to explore alternative ways of marketing and get creative as you’re doing it.
Corey remembers a story where one entrepreneur hired a comedian with a huge social media following. They put together a video and played it to the comedian’s audience. The whole campaign helped the entrepreneur get a bunch of new clients, and it’s just one example of how you can leverage influencer marketing to build your credit repair business.
The future of marketing is definitely online, and if your approach is based on providing people with value - you’re on the right track!
In cases such as this one, you want to focus on adding positive credit, and there are several ways of doing that. You can sign your client up for a credit builder card or maybe a jewelers card. Sometimes it’s good to add an installment loan, auto loan, or a personal loan into the mix.
The only other thing you can do is to make sure that all of their personal information is up to date. But other than that - there’s not much you can do about it.
“Once everything negative is gone, they have the right mix of credit accounts, and their balances are low. That’s about all you can do to optimize the score.” - Corey Gray
Thank you so much for tuning into this week’s episode! It has been an incredible experience for both of us!
Before I sign off, I just want to invite you to check out our Credit Hero Challenge. If you’re looking to start your own credit repair business and have us guide you through it, then simply click on the link below and join in for an incredible 14-day journey!
Sign up for the Credit Hero Challenge Today!
Until next week - keep changing lives!