- April 8, 2017
- Posted by: Mark Clayborne
- Category: Credit Repair Business
10 Common Mistakes Credit Repair Companies Make
Mark Clayborne here from ‘Startup Credit Repair Business Training Center. I’m sitting here in my truck right now just relaxing and I’ve decided that I wanted to do a video because I wanted to go over common mistakes that startup credit repair businesses make. And even established credit repair businesses. So I hope that you can learn something from my 10 years of experience in being in this credit repair industry. So let’s get right to it.
So the first mistake that I see all the time which startup credit repair businesses in particular is that they are using; and you know who you are. They are using their personal email address when they can easily get a business email address.
So when first starting out with a credit repair business you want to get an e-mail address. That’s a professional business email address, not your personal email address. People won’t take you seriously if you are using your personal email address. So that’s one mistake that I see a lot actually and you know who you are guys. Get a business email address. Stop using that personal email address.
On the second thing, I see with startups and even establish ones is that you guys are not tracking your taxes. All your expenses, your profits, your expenses all the money that you make and the money that’s going out for office supplies, legal fees anything pertaining to your business you need to be tracking that not at the end of the year but you need be tracking at every single month. So it makes it easier for your tax person at the end of the year to do your taxes for you. So get a hold of your expenses. Start tracking your expenses.
The next thing that I see with start-up credit repair businesses; and not so much with startups but even more established businesses is they’re not protecting their name. They’re not protecting their name. They’re not trademarked, trademarking and protecting your name. If you’re going to use this name as a brand and you’re going to pour a lot of money into that business and you’re
going to use this name like in your email and your flyers all over the internet. When you start making money in your business you probably want to start investigating in trademarking that name. Alright, so that’s a third common mistake that I see that startups make and also even establish credit repair companies.
So let’s move on to credit repair. So those were some of the most common mistakes that I see with business practices, best business practices. So let’s move to credit repair. Now, here’s what I see. Here’s a biggie for the credit repair part. I see a lot of startups and even established credit repair companies spending too much time on their customer’s file. Remember every file is like you only charge the customer per month. So you don’t want to spend a whole lot of time on the customer’s file. Only spend what’s necessary to complete the file alright. You don’t want to get tied up in that office where all you’re doing is working in your business instead of working on your business. So set a timeline on how much time you’re going to spend on that customer’s file.
Another thing that I see a lot… and mostly newbies but I also see it with established credit repair companies. Stops using the same dispute reason all the time. You can’t use the same dispute reason every time you send out a dispute. If the credit bureau verifies it, why are you using the same dispute reason? You know that can trigger a frivolous ladder. So stop using the same dispute reason every single time you send out a dispute especially when the credit you’ve already verified the dispute all right.
One of the third common mistakes that I see in the credit repair arena of this is that a lot of dispute practitioners; they don’t know what to do after they dispute two or three or four rounds on an account. And it keeps coming back verifying so at that point they get stuck and they don’t know where the turn. Now in order to get unstuck in order to unstuck yourself you have to learn and train and get a mentor to teach you different ways and strategies to get around that. Like if you are stuck you don’t know what to do with this customer file at that point, you have to learn what to do okay. Now that was like those are three common mistakes I see in the credit repair arena. Three common mistakes that I see in the business practice arena.
So let’s talk about the lead generation arena. So one of the common mistakes that I see there is that when a customer calls you want to get back with them within two to three hours. You know, we’ve called on a lot of credit repair companies as a test and a lot of them don’t answer their phones, there’s no… they’re out of business. They’re not returning voicemails. Come on guys, come on. If you’re trying to give top customer service in this business answer your phone, answer your phone okay. And if you can’t answer your phone make sure you least get back with that customer within two hours right.
So another mistake that I see, I see is that startup cutter repair businesses and even established ones are focusing too much on credit repair. Why are you focusing so much on credit repair when you know the basics already? Huh is credit repair going to bring you a customer? Honestly, ask yourself. Is credit repair really going to bring you a customer? So then why are you focusing a hundred percent on learning it when you already know the basics of credit repair. So that’s another mistake that I see all right.
And another mistake that I see under the lead generation academy coming sorry the lead generation section of common mistakes is that startups and established credit repair companies do not specialize in one lead generation strategy. They’re all over the place. They didn’t give one lead generation strategy time to work yet. You have to give it time to work first and then measure it and monitor it and see if it’s successful for you. And if it’s not successful for you then you move on to another lead generation strategy but you got to give it time to work.
And lastly, the fourth common mistake that I see we have established and even newly on startup credit repair businesses is that they always want to go for the freeway of marketing. Anything that’s free it comes with consequences all right. If you want eyeballs on your product or service or offer you want to have to pay. You have to pay for those eyeballs. So if you’re getting into this business you know that you’re going to need customers you can try some free strategies. And some free strategies do work. But if you want customers really fast you’re gonna have to pay for those customers alright. So I hope you learn something from these 10 common mistakes.
So let’s recap.
- 1 – no business email.
- 2 – not tracking your expenses that you put into your business on.
- 3 – not protecting your business name, your brand.
- 4 – for credit repair spending too much time on a customer’s file.
- 5 – using the same dispute reasons all the time, not changing up you dispute reason.
- 6 – not knowing what to do once you get stuck on the file and if you dispute it so many times they just won’t come off.
- 7 – not returning customers phone calls at the reasonable time.
- 8 – focusing too much on credit repair.
- 9 – not mastering one lead generation strategy.
- 10- not wanting to pay for eyeballs, not wanting to pay for ads or not wanting to pay to get customers quickly.