Welcome to the Small Business Ideas Forum! We are a community of over 100,000 small business folks with over 163,000 posts for you to browse. We pride ourselves on being the friendliest forum you will find and we'd love to have you as a member of our community. Please take a moment and register for a free account. If you need any help, please contact Chris Logan.

Small Business Ideas Forum

Small Business Ideas Forum

A friendly place to share small business ideas and knowledge, ask questions, find help and encourage others that are involved in the small business industry. Topics include small business marketing, generating revenue and small business computing.

Go Back   Small Business Ideas Forum > Small Business Ideas Forum Info > New Member Introductions
Register Search Today's Posts Mark Forums Read

Reply
 
Thread Tools
Old 4th June 2006, 04:20 AM   #1
ScoreFix
Member
 

Join Date: Jun 2006
Location: El Mirage, AZ (sub of Phoenix)
Posts: 6
Default Greetings from El Mirage, AZ!

I found this forum the other day, and decided, "What the heck! Why not join!" So here I am.

I am a 37 year old small business owner living in El Mirage, AZ. (This is a suburb of Phoenix). I am married with no kids yet (unless you count two wonderful, playful kittens).

My business is called ScoreFix. We are a credit restoration company. I actually hate when people call us a credit "repair" company, because that name has such a negative connotation to it. Our focus is not to just clean up a person’s credit, but to work on increasing their credit scores.

I was a manager in the collection industry for almost 15 years. One of the things we used to do in order to try to get the debt owed to our company paid was to refer our "debtors" out to get a refinance. Most of the time though, their credit was so bad that they could not get the loan. So I started helping them clean up their credit as a way of getting our company paid.

About 5 years ago, I became a mortgage broker and would get all my former employees to refer people to me for refinancing. The ones I could not get loans for I would help clean up their credit, and get their scores where they would need to be so they could actually afford to pay back the loan I was getting them to pay off their collection debts.

Pretty soon other loan officers in my office were asking me to help their clients, and what do you know. A business is born.

I love what I do as it lets me truly help a person do something that is going to benefit them a lot in the long run.

My issue currently is that while I am getting a steady stream of clients, I do not make enough (I am so under priced) to justify hiring someone to help out yet. I have thought about raising my pricing, but that doesn't seem fair to my clients for how easy the work is.

Hmmm, well....

That should give you an idea of who I am and what I do.

The reason I am here is because this is my first business. I am always looking for business advice and ways to run more efficiently. As well, I will have many questions as my business begins to grow about how to handle that growth, etc.

I look forward to also answering questions when I can. I am know to LOOK for the correct answer if I don't know it, and will be happy to share things I find with the forum.

Thanks!

ScoreFix is offline   Reply With Quote
Register or log in to remove this ad.
Old 4th June 2006, 08:37 AM   #2
mktgbiz
Moderator
 
mktgbiz's Avatar
 

Join Date: Dec 2004
Location: New Port Richey, FL
Posts: 1,523

Default

Welcome Brian. Glad to have ya.

Sounds like a very "sincere" business you have going there.

I think you can raise your prices a little - can't you? Maybe a percentage or two? Wouldn't that help?

Also, is there anything you could add on the back end of the sale? I'm not suggesting something "crooked", but maybe a follow up mailout with another product or service they might need as well?

Just thinking out loud..........

__________________
10 years and running....still the most-loved promotional product!
www.TheJavelinPen.com
Holiday Greeting Cards:
www.holidaycardwebiste.com/getmorebiznow
mktgbiz is offline   Reply With Quote
Old 4th June 2006, 01:27 PM   #3
ScoreFix
Member
 

Join Date: Jun 2006
Location: El Mirage, AZ (sub of Phoenix)
Posts: 6
Default

Quote:
Originally Posted by mktgbiz
Welcome Brian. Glad to have ya.

Sounds like a very "sincere" business you have going there.

I think you can raise your prices a little - can't you? Maybe a percentage or two? Wouldn't that help?

Also, is there anything you could add on the back end of the sale? I'm not suggesting something "crooked", but maybe a follow up mailout with another product or service they might need as well?

Just thinking out loud..........
I actually charge a little to start up, then charge for results. But I cap my fees. The cap is what stops me from making a ton, but I honestly do feel that I should not charge more even though almost everyone else does. I can't believe some of the largest companies charge a "monthly" fee. Heck, I could almost be rich if I did that. :-)

Plus some of the people I do turn into mortgages, so there is that additional revenus stream. The people referred by other loan officers though I could not ethically "Steal".

Here is my logic:

Credit repair is really something that a person can do themselves. I just cut down on the trial and error and make it easier for people that don't know what they are doing, etc. I would almost feel guilty for charging more.

Once I start marketing, etc. then I should see my volume increase. Right now, I have 49 active clients, and have only helped a fewer than 400 people so far.

I have to be able to continue with the customer service level I have established, while increasing business. I also set aside 40% of all monies received to open an office and have someone’s salary for 2 months. 10% for future advertising. (All business is from referrals)

One of the reasons I am here is to learn enough about running a business that when I do expand then I will be ready.

ScoreFix is offline   Reply With Quote
Old 5th June 2006, 12:59 PM   #4
David Wallace
Senior Member
 
David Wallace's Avatar
 

Join Date: Jun 2004
Location: Phoenix, Arizona
Posts: 1,049

Search Engine Guide Blogger

Default

Hey, a fellow Arizonian!

From one Arizonain to another, welcome, Brian.

__________________
David Wallace
SearchRank® - Search Engine Marketing | Personal Blog
David Wallace is offline   Reply With Quote
Old 5th June 2006, 11:54 PM   #5
Matt McGee
Moderator
 
Matt McGee's Avatar
 

Join Date: Apr 2006
Location: Tri-Cities, Wash.
Posts: 395
Default

Hey Brian - welcome to the forum.

Quote:
Originally Posted by ScoreFix
I have thought about raising my pricing, but that doesn't seem fair to my clients for how easy the work is.
I'm not positive, but I think Rule #1 of pricing a service is this: The price should reflect the value to the buyer, not the effort of the provider.

If you're doing something important for people, you should charge appropriately for it. If all of your competitors are charging more and staying in business, the message is that you're not valuing your own work enough. (And if you don't value your own work, how would you expect others to?)

Anyway, just because you find the work easy, doesn't mean it's not important and of great value to your clients.

__________________
Matt McGee (AKA "Pleeker")
Small Business SEM
Matt McGee is offline   Reply With Quote
Old 8th June 2006, 12:13 PM   #6
JakeJohnson
Member
 

Join Date: Apr 2006
Posts: 60
Default

Welcome

JakeJohnson is offline   Reply With Quote
Old 11th June 2006, 01:31 PM   #7
ScoreFix
Member
 

Join Date: Jun 2006
Location: El Mirage, AZ (sub of Phoenix)
Posts: 6
Default

Quote:
Originally Posted by David Wallace
Hey, a fellow Arizonian!

From one Arizonain to another, welcome, Brian.

David, hello back to you! I think you are the first one from AZ I have found on the board so far! Thanks for the greetings.

ScoreFix is offline   Reply With Quote
Old 11th June 2006, 01:32 PM   #8
ScoreFix
Member
 

Join Date: Jun 2006
Location: El Mirage, AZ (sub of Phoenix)
Posts: 6
Default

Quote:
Originally Posted by Matt McGee
Hey Brian - welcome to the forum.

I'm not positive, but I think Rule #1 of pricing a service is this: The price should reflect the value to the buyer, not the effort of the provider.

If you're doing something important for people, you should charge appropriately for it. If all of your competitors are charging more and staying in business, the message is that you're not valuing your own work enough. (And if you don't value your own work, how would you expect others to?)

Anyway, just because you find the work easy, doesn't mean it's not important and of great value to your clients.
Matt, I agree with some of your points and they make sense. Thanks for your advice.

ScoreFix is offline   Reply With Quote
Old 11th June 2006, 02:10 PM   #9
1LOW8TE
Member
 

Join Date: Dec 2004
Location: LOUISVILLE, KY
Posts: 20
Send a message via AIM to 1LOW8TE
Default

Good Luck and nice to meet you.

1LOW8TE is offline   Reply With Quote
Reply   

Bookmarks




Thread Tools

Get Updates
RSS Feeds:
RSS Feed for New Member Introductions RSS for this Category Only: New Member Introductions

RSS Feed for Small Business Ideas Forum RSS for Entire Forum
Forum Rules


Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Forum Jump


Small Business Ideas Forum


 
At Your Business - Small Business Directory
Free Business Forms - Prewritten Documents
 
Search Engine Guide
Small business guide to search marketing

 
Small Business Brief
Fetching the Best Small Business Info


Free Links - Free Advertising
Free Guide - Online Directory



Advertise your business here
Contact us for more details!


Semantic Juice
Register now to access free Quick SEO service!


Rocket Lawyer
Sign up for free 7 day trial. Boost your biz!


Buy UPC Codes
Get your products listed online!




All times are GMT -5. The time now is 02:11 PM.


Powered by vBulletin® Version 3.7.3
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Copyright 2004 - 2018 - Privacy