Your first contact with a prospective client may be your only contact so it is important to make a convincing case for them to use your service.
Your message needs to be professional, concise and compelling. This is true whether the communication is by phone, letter or email. Of course, those who have purchased my Business Plan System know I am a proponent of sending a letter first then following with a phone call most of the time. My sample "prospect letter" included with my material has proven to be a great tool in getting a prospective client's attention (and often prompting them to call you).
You only have a short amount of time to convince a prospect your service is valuable to them. My sample script provides a good guide line for the phone conversation but I encourage you to alter the wording to fit your own personal style. To close the deal, I have sometimes found it helpful to tell a prospect they can always hire an attorney if I am unable to negotiate an acceptable settlement first. Since there is no cost unless I am successful, they have nothing to lose.
Always take your first contact seriously and ensure the communication reflects favorably upon you and your service. It may be your only opportunity to turn a prospect into a fee paying client.
Scott F. Soape
Thursday, November 20, 2008
Saturday, November 8, 2008
How to Make $100,000 + a Year
You've heard me say a six figure income is possible in the commercial debt resolution profession. Earning fees of several thousands of dollars per case is certainly one way to get there... but there are also other ways.
Let's look at 3 different examples:
EXAMPLE 1. If you can close 5 cases per week generating a fee of just $400 each, you will earn $2,000 per week. With 52 weeks in a year that gets you $104,000 per year. Since most cases take no more than a couple of hours TOTAL time to negotiate & close once you land a client, that's about 10 hours per week. (Keep in mind a $400 fee is about the minimum you should earn on a case, so lets look at another example.)
EXAMPLE 2. If you can close only 3 cases per week generating a fee of $700 each, you will earn $2,100 per week. That comes to over $109,000 per year.
EXAMPLE 3. Now figure you earn the average fee of about $1,200 per case and close only 2 cases per week. At $2,400 per week you will make nearly $125,000 a year!
You can assume you will have a wide mixture of cases earning a wide range of fees. Some may only earn you $350 while others generate fees of $3,000, $5,000 or $10,000+. That's the nature of this business. Sure, some weeks you may not close ANY cases, but other weeks you may close numerous cases each day. Other weeks you may only close one case but that case might earn you a fee of $2,000 or more.
The business is out there and making $100,000 + per year is possible if you incorporate ALL of my recommendations for getting leads & closing cases. Making more money just means contacting more prospective clients and closing more (or bigger ) cases each day or week. Of course, nobody says you have to make a six figure income. If all you need or want is an extra $400, $800 or $1,000 per week, then it will take fewer cases to get there. Follow my program and the potential is absolutely there to earn whatever level of income you desire.
Scott F. Soape
Let's look at 3 different examples:
EXAMPLE 1. If you can close 5 cases per week generating a fee of just $400 each, you will earn $2,000 per week. With 52 weeks in a year that gets you $104,000 per year. Since most cases take no more than a couple of hours TOTAL time to negotiate & close once you land a client, that's about 10 hours per week. (Keep in mind a $400 fee is about the minimum you should earn on a case, so lets look at another example.)
EXAMPLE 2. If you can close only 3 cases per week generating a fee of $700 each, you will earn $2,100 per week. That comes to over $109,000 per year.
EXAMPLE 3. Now figure you earn the average fee of about $1,200 per case and close only 2 cases per week. At $2,400 per week you will make nearly $125,000 a year!
You can assume you will have a wide mixture of cases earning a wide range of fees. Some may only earn you $350 while others generate fees of $3,000, $5,000 or $10,000+. That's the nature of this business. Sure, some weeks you may not close ANY cases, but other weeks you may close numerous cases each day. Other weeks you may only close one case but that case might earn you a fee of $2,000 or more.
The business is out there and making $100,000 + per year is possible if you incorporate ALL of my recommendations for getting leads & closing cases. Making more money just means contacting more prospective clients and closing more (or bigger ) cases each day or week. Of course, nobody says you have to make a six figure income. If all you need or want is an extra $400, $800 or $1,000 per week, then it will take fewer cases to get there. Follow my program and the potential is absolutely there to earn whatever level of income you desire.
Scott F. Soape
Saturday, November 1, 2008
Repeat Clients - The "Icing on the Cake"
There are always new clients in need of our service. Financial disputes are constantly occurring and lawsuits between businesses are an ongoing certainty all over the country. So, our service is always in demand.
However, as I teach in my Business Plan System, repeat business from current clients is "the icing on the cake".
Once you have identified a potential client with a problem debt, you can bet they have several other creditors hounding them for payment. ALWAYS ASK!
This is the easiest source of new business you will encounter. After your client sees what a great service you have to offer with their first problem debt, they will gladly allow you to negotiate settlements with their other creditors. After all, they have nothing to lose... and potentially, thousands of dollars to gain.
Ask about their other problem debts when they hire you AND ask about their other problem debts once you negotiate a settlement on the first debt. A satisfied client is your BEST source for new business!
Of course, my Business Plan System explains all you need to know. Please visit my website at http://www.debtresolutionbiz.com/ for details on this profession and feel free to contact my office with specific questions.
Scott F. Soape
However, as I teach in my Business Plan System, repeat business from current clients is "the icing on the cake".
Once you have identified a potential client with a problem debt, you can bet they have several other creditors hounding them for payment. ALWAYS ASK!
This is the easiest source of new business you will encounter. After your client sees what a great service you have to offer with their first problem debt, they will gladly allow you to negotiate settlements with their other creditors. After all, they have nothing to lose... and potentially, thousands of dollars to gain.
Ask about their other problem debts when they hire you AND ask about their other problem debts once you negotiate a settlement on the first debt. A satisfied client is your BEST source for new business!
Of course, my Business Plan System explains all you need to know. Please visit my website at http://www.debtresolutionbiz.com/ for details on this profession and feel free to contact my office with specific questions.
Scott F. Soape
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