How You Handle the Question of Transparency Could Make or Break Your Business

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If you've got a new credit repair business, I'm going to show you why you should not make this rookie mistake. 

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So the big question is this. How can we take our passion for helping people with their credit and turn it into a successful business without taking loans without spending a fortune by bootstrapping it from nothing? So we can help the most people and still become highly profitable? That is the question, and this podcast will give you the answer. My name is Daniel Rosen, and welcome to Credit Repair Business Secrets.

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Recently, someone in our Credit Repair Cloud Facebook Community asked this question. "What do I do if my client wants to see the dispute letters I'm sending? I don't want them to see the letters because then they will learn my secrets and steal my business idea and become my competitor. What should I do?" Well, believe it or not, This is actually a very common fear that many new credit repair business owners have. Do you have that fear? Are you worried for your client to see the dispute letters you're sending? Are you worried that your clients are going to steal your business idea? Well, if this is on your mind, here's something that you really need to hear. Starting a business is hard, there are going to be a lot of roadblocks to get through. So why are you creating additional roadblocks that don't even exist? Not only is it going to be difficult to grow a business with this kind of paranoid fear, but it can also land you in a whole lot of trouble. I know it seems like you just discovered a new business that looks like all someone has to do is copy your letters, and they can copy your business but the likelihood of that happening is very, very small. First of all, there's no such thing as a magic letter. The letters don't matter and the letters are everywhere. People aren't hiring you for your letters. They are hiring you for your expertise, for your process, your coaching, your time to manage the process, and your knowledge of the law and learning how to use the law in their favor. No one gets that from seeing your letter. So you got to put all that negative and destructive worry out of your head, okay? Running a successful business is about execution. And no one can copy that. A successful business has so many pieces, and this piece here about the letters is insignificant. The other part is anyone can repair their own credit, just like anyone can cut their own hair, and anyone can do their own taxes. But most of us don't do those things. Because it's time-consuming, it's complicated and most of us are afraid of messing something up. So most of us leave those things to a professional. So instead of being threatened by your own clients, be professional, just like a tax person. professionals are transparent with their clients about the process. They don't try to hide it from their clients. Otherwise, you're going to have a very weird and strange business that no client wants to be a part of. Now, here's the other part of this. Trying to prevent your client from seeing the letters that you're sending is not only insane, paranoid, and dangerous, but not showing them the letters that you're sending on their behalf is actually illegal. You don't have a choice in this matter. If you're sending letters on behalf of your clients. You must let the client see and know exactly what you're sending on their behalf. Otherwise, you are in violation of the law. The FTC can go after you for breaking the law. And trust me, this happens. People have their businesses shut down, and they go to jail for this. It's a very serious offense, CROA, which is the Credit Repair Organizations Act. It states that the client must have access to anything sent on their behalf. A few years ago, there was a company that was in credit repair, and they were using our software and they got in trouble this way. And they got shut down. And I read the FTC complaint. And one of the biggest violations listed was that the clients had no idea what was being sent on their behalf. And because of running their business, that way, they're no longer in business anymore. It's so easy to do this business the right way. This is why we built the capability in Credit Repair Cloud with a click client portal for the client to be able to see all the letters that are being sent. Sure, you can turn that off in your portal settings. But complete transparency is how you build a successful business. And it keeps you from getting in trouble. So instead of worrying about paranoid nonsense, instead put your time and your energy into getting more clients being more awesome and giving amazing customer service. And by over-delivering value, then your clients are going to be blown away by the service that you provide. And they're going to tell their friends and they're going to give you testimonials and referrals. And that is how you build a million-dollar business. Here's why this is important. You must follow the law. You cannot be sketching weird. You can't scale sketchy in weird credit repair is about using the law. It's not About skirting the law or finding loopholes around the law. No, it's about using the law in your favor. Additionally, your clients are not going to want to pay you if they can't see the process. And if it looks too mysterious, sure, you might get a few clients that way. But the idea is to actually grow your business and grow your business by being a trusted professional and being completely transparent. Just imagine if you went to a tax preparer, and they refuse to show you your completed tax form. That would be crazy, right? And the tax preparer could go to jail. Always let the client see the work you're doing and always involve them in the process. This makes them feel value, and if you do that, they will continue to pay you and if you follow this method and focus on having this style of business, you're going to build much better relationships with your clients. And you're going to turn them into raving fans. And you're going to grow your business that much faster. So here's what you need to know. If your client asked to see the letters you're sending, say, yes, you can see all the letters in your portal, just log in, they're all there and encourage them to see everything. Keep your client in the loop on everything you're doing for them. Keep in constant communication with your clients, because that's going to make them feel value, and truly understand the work that you're doing for them, and why it's worth every penny that they pay you. If your clients are leaving you too early in the process, there's a good chance that it's because they don't know what's going on. And if they don't know what's going on, they're going to assume that nothing is going on and that you're just taking their money. So the best way to prevent that is to keep in constant communication, send them updates on everything that's happening. And whenever you can talk with them and help them to better understand their finances and educate them and all these things, or why a client will keep paying you month after month after month, okay? In a service-based business like this, you've got to be amazing at customer service, and you've got to over-deliver transparency and value. Andre Coakley is one of our credit repair millionaires and he is a master of customer service. I always call him the king of customer service. He started a credit repair business from nothing just like you or me, but he says what sets him apart is the customer experience. He says that focusing on offering a better customer experience like I'm describing has boosted his sales By 90%, and you know how Andre gets most of his clients. He gets them by going out and teaching people how to improve their own credit. He does this by speaking publicly in churches, schools, and even in prisons. It's fascinating. And guess what happens? They learn how credit repair works. But they're all too lazy to actually do the work themselves. So they all come back to him. And this is how he gets a lot of his clients. And they come to him because he's focused first on giving value. And then he encourages them to be involved in each part of the process, including seeing the letters that get sent on their behalf. Andre says that when you first start your credit repair business, you're going to concentrate 100% on just getting customers. But then as you start gaining traction, you should shift your focus more towards customer retention. And then once you're established, you should spend at least half of your time and half of your energy on customer retention. And customer retention means being in constant communication with your clients on exactly what's happening in their accounts. And that also means checking in with them to make sure they're on track with the program, that they're not applying for any new credit, that they're paying their cards down, and that they're following your advice. And it also means letting them know each time the letters get sent on their behalf, letting them have access to them in their portal, and letting them know exactly when you've got results to share with them. So transparency is not something to be threatened by. It's actually how you stay legal. It's how you wow your clients, and it's a big part of how you grow your business. And by the way, since this question came from our Facebook community, I should tell you about that. In our private community for Credit Repair Cloud, we have thousands of credit repair professionals in there. And if you get stuck on an issue with a client, all you need to do is ask it clearly in a question in that community, and you're going to get some amazing responses, often from the credit repair millionaires themselves. This community is one of our greatest resources, and it's completely free. And you can join it for free if you're a Credit Repair Cloud user, or if you take one of our courses, and it is amazing. And I want to thank you again for tuning into my podcast. If you have any questions that you'd like answered on the next podcast, please write them down below. And I'm hoping that will give me some great stuff to answer in the coming weeks if you're wanting to start your business or bring it up to the next level. And if you're finding value in the things I'm sharing on this podcast, click below to subscribe. And it's a new podcast. So to really help me out if you can rate me and give me a review, I can use all the help I can get. And I will see you on the next episode and until then, keep changing lives!

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Hey, everybody, it's Daniel again. And really quick, I'd like to invite you to join what I believe is the best thing we have ever created inside the Credit Repair Cloud Community. And it is a challenge that we call the Credit Hero Challenge. If you're just planning out your business, or you're just getting started, and you dream of having a successful business of your own, so you can quit your nine to five and fire your boss and have financial freedom or so you can add another revenue stream to your existing business. If that's your dream, you need to get into this challenge. We created this challenge to help you to create and launch your very own credit repair business. To build a proper foundation for a really successful business. This challenge is going to help you to understand the strategy, the tactics, and all the things you need to be successful at credit repair. It really is the greatest thing we have ever built and it will change your life. So I recommend you do it right now. Stop everything pause this audio go online and go to creditherochallenge.com. That's creditherochallenge.com and join the next challenge. And there's a challenge that starting in just a few days. So go get started right now at creditherochallenge.com.