My Business Plan System material provides several ways to easily locate prospects. The next step is contacting those prospects to offer your valuable service.
For most cases, I suggest you first send a letter. If you use the powerful "Prospect Letter" provided with my material, there is a good chance the prospect will quickly give you a call to retain your service. However, a follow-up call is sometimes needed to help prod the prospect in the right direction.
Phone calls to prospective clients are one of the easiest aspects of this profession. Remember, you are offering to help this business owner with a very real and URGENT problem. In addition, you are offering to assist on a "no results, no charge" basis! What could be easier?
The letter will have already opened the door for you, making the follow-up call a warm call rather than a cold call. Often, I am told they just had not gotten around to calling my office when they take my call.
By following the recommendations and scripts provided in my material, you should have no problem contacting prospects and quickly turning them into fee-paying clients.
Scott F. Soape
Friday, June 19, 2009
Monday, June 8, 2009
Start Up Costs
One of the great things about working in the "Service" industry is that it's typically very affordable to get started. The commercial debt resolution profession is no exception.
Once you have invested in my comprehensive Business Plan System, the other costs to get up and running are nominal. Assuming you already have access to a computer, you will also have some sort of word processing software to create your own letterhead and envelopes which can be printed with your business name and return address. Quality paper and matching envelopes can be obtained in small quantities from your local office supply store for a professional look. A private post office box may be rented inexpensively on a short term basis to be used for all your business correspondence.
Business Cards are one of the only items where I suggest you maximize your initial investment. They should convey a clear and professional image so high quality card stock and print is important. These and your letters may be the only face your clients and prospective clients ever see of you and your business so they need to be sharp.
As your practice grows and revenues allow, you may want to add a dedicated phone line for faxes and / or your business calls. Also, you will find some sort of brochure will be helpful in conveying your message. I use tri-fold brochures that only cost about 40 cents each. A print run of 50 is around $20 and 100 are just $40. These allow me to summarize my business, show clients the benefit and include all my contact information in a professional format. Every prospective client mailing includes a brochure.
Websites have become increasingly important for a credible and professional image. One can be created as revenues allow but you can start very cheaply by using special on-line services (see previous Blog entry on websites).
When you consider the TOTAL start up cost to enter this highly lucrative profession can be easily recouped with your VERY FIRST paying case, the "cost decision" should be easy.
Scott F. Soape
Once you have invested in my comprehensive Business Plan System, the other costs to get up and running are nominal. Assuming you already have access to a computer, you will also have some sort of word processing software to create your own letterhead and envelopes which can be printed with your business name and return address. Quality paper and matching envelopes can be obtained in small quantities from your local office supply store for a professional look. A private post office box may be rented inexpensively on a short term basis to be used for all your business correspondence.
Business Cards are one of the only items where I suggest you maximize your initial investment. They should convey a clear and professional image so high quality card stock and print is important. These and your letters may be the only face your clients and prospective clients ever see of you and your business so they need to be sharp.
As your practice grows and revenues allow, you may want to add a dedicated phone line for faxes and / or your business calls. Also, you will find some sort of brochure will be helpful in conveying your message. I use tri-fold brochures that only cost about 40 cents each. A print run of 50 is around $20 and 100 are just $40. These allow me to summarize my business, show clients the benefit and include all my contact information in a professional format. Every prospective client mailing includes a brochure.
Websites have become increasingly important for a credible and professional image. One can be created as revenues allow but you can start very cheaply by using special on-line services (see previous Blog entry on websites).
When you consider the TOTAL start up cost to enter this highly lucrative profession can be easily recouped with your VERY FIRST paying case, the "cost decision" should be easy.
Scott F. Soape
Monday, May 11, 2009
What About Competition?
The commercial debt resolution profession is relatively new and typically under-represented in areas around the country. However, most large cities will probably have some competition in this business.
The good news is: there is plenty of business to go around! Lawsuits involving financial disputes between companies are filed daily all over the country and there is no way for one or even several debt resolution firms to handle them all. Additionally, these debtor companies typically have several other problems you will be able to settle. And, if you work on building a wide referral network using my many suggestions, you may never encounter another debt negotiator.
In my local area, I know of at least one other debt resolution specialist (but I am sure there are probably a couple others). He and I bump into each other occasionally at the courthouse and we are on friendly terms. We have even met for coffee to exchange ideas on the business. Fortunately, there is plenty of business for us both and I have only encountered one client in the past 11+ years that we both were working.
Don't get concerned about whether or not your area may have some competition. Given the volume of cases to work, you are bound to find plenty of prospective clients happy to pay for your assistance.
Scott F. Soape
The good news is: there is plenty of business to go around! Lawsuits involving financial disputes between companies are filed daily all over the country and there is no way for one or even several debt resolution firms to handle them all. Additionally, these debtor companies typically have several other problems you will be able to settle. And, if you work on building a wide referral network using my many suggestions, you may never encounter another debt negotiator.
In my local area, I know of at least one other debt resolution specialist (but I am sure there are probably a couple others). He and I bump into each other occasionally at the courthouse and we are on friendly terms. We have even met for coffee to exchange ideas on the business. Fortunately, there is plenty of business for us both and I have only encountered one client in the past 11+ years that we both were working.
Don't get concerned about whether or not your area may have some competition. Given the volume of cases to work, you are bound to find plenty of prospective clients happy to pay for your assistance.
Scott F. Soape
Friday, May 8, 2009
Can Anyone Do This?
I am often asked: "What kind of background, qualification or education is needed to be a successful commercial debt negotiator"?
The answer is: "No special background, qualification or education is needed."
My comprehensive Business Plan System will provide you with all the information needed to work this profession. I have written the material so that almost ANYONE can begin their own practice within a couple of days from the date they receive it.
The business itself is not difficult and my step-by-step instructions will guide you through everything required to be successful. There is no need to become some sort of financial guru or master negotiator. If you can read and write and you are comfortable with occasional phone conversations, you are qualified.
90% of this business is conducted by correspondence (fax, mail or email) and I provide samples of the basic form letters. About the only time you will speak with another person is during follow-up phone calls to prospective clients and gathering simple information from clients to ascertain what type of settlement is best for them. Again, I provide you with sample scripts for these calls. There is absolutely no need to meet with anyone face-to-face unless you choose.
Do not be put off by thinking you are not qualified to work in this highly lucrative profession. I will provide you with everything you need to get up and running... and potentially making a LOT of money.
Scott F. Soape
The answer is: "No special background, qualification or education is needed."
My comprehensive Business Plan System will provide you with all the information needed to work this profession. I have written the material so that almost ANYONE can begin their own practice within a couple of days from the date they receive it.
The business itself is not difficult and my step-by-step instructions will guide you through everything required to be successful. There is no need to become some sort of financial guru or master negotiator. If you can read and write and you are comfortable with occasional phone conversations, you are qualified.
90% of this business is conducted by correspondence (fax, mail or email) and I provide samples of the basic form letters. About the only time you will speak with another person is during follow-up phone calls to prospective clients and gathering simple information from clients to ascertain what type of settlement is best for them. Again, I provide you with sample scripts for these calls. There is absolutely no need to meet with anyone face-to-face unless you choose.
Do not be put off by thinking you are not qualified to work in this highly lucrative profession. I will provide you with everything you need to get up and running... and potentially making a LOT of money.
Scott F. Soape
Thursday, April 16, 2009
"Bread & Butter Cases"
Once you have been in this profession for a time, you will find there are certain creditors that file numerous cases in your area on a regular basis. In my area there are about 4 or 5 of these repeat offenders.
I always know from the start exactly what to expect from the attorneys that represent these creditors. And, since they have dealt with me on many cases over the years, we are on a friendly (although professional) first name basis.
Two of these 4 or 5 repeat offenders are very stringent with their settlement guidelines and rarely make any exceptions on terms. I refer to these cases as my "Bread & Butter Cases" because I only charge a minimum flat fee of $350 to $450 for each settlement depending on the size of the debt (these debts usually run from $5,000 to $10,000). They require very little time or effort and I can easily handle several each week without detracting from my other case load.
Be assured, I ALWAYS save my client much more than my fee. But knowing the creditor will not give up much of a discount and knowing I will not need to spend much time in negotiations, the fee is fair.
Once you have spent some time working various cases, you will likely encounter the same situation. I encourage you not to set your fee too high when you work cases that do not allow for substantial discounts for your client. You will easily make up for any perceived fee shortages by the shear volume of cases!
Scott F. Soape
I always know from the start exactly what to expect from the attorneys that represent these creditors. And, since they have dealt with me on many cases over the years, we are on a friendly (although professional) first name basis.
Two of these 4 or 5 repeat offenders are very stringent with their settlement guidelines and rarely make any exceptions on terms. I refer to these cases as my "Bread & Butter Cases" because I only charge a minimum flat fee of $350 to $450 for each settlement depending on the size of the debt (these debts usually run from $5,000 to $10,000). They require very little time or effort and I can easily handle several each week without detracting from my other case load.
Be assured, I ALWAYS save my client much more than my fee. But knowing the creditor will not give up much of a discount and knowing I will not need to spend much time in negotiations, the fee is fair.
Once you have spent some time working various cases, you will likely encounter the same situation. I encourage you not to set your fee too high when you work cases that do not allow for substantial discounts for your client. You will easily make up for any perceived fee shortages by the shear volume of cases!
Scott F. Soape
Thursday, April 9, 2009
My BBB Rating: "A"
Although my company is not an active member of the local Better Business Bureau, they still maintain records on any complaints received(as they do with many other non-member businesses).
I am proud to say my BBB rating is "A"... the HIGHEST RATING they issue.
After nearly 12 years in business, I have not received a single complaint with the BBB. Of course, this does not mean I am perfect. What it should indicate is that I make every effort to resolve complaints to the complete satisfaction of each and every client and student.
Based on the design of my core commercial debt resolution business, I do not charge a fee unless I obtain settlement terms on a debt to my client's full satisfaction. This means they must approve any settlement before they are obligated to pay for my service. Over the years and with hundreds of cases, there have only been a handful of settlements I could not close. No settlement, no charge to the client, no reason to complain.
Regarding my Business Plan System, I always make every effort to address whatever special problems or concerns a student may have with the program. If a student decides the program is not for them for any reason and they return the material within the 45 day refund period, I always process refunds promptly... no questions asked.
I hope you will take my BBB record as an indication of how I have conducted my business from 1997 to present. Personally, I am very proud of this "zero complaint" record and I intend to do my best to keep it intact.
Scott F. Soape
Please feel free to check for yourself at: www.bbb.org.
I am proud to say my BBB rating is "A"... the HIGHEST RATING they issue.
After nearly 12 years in business, I have not received a single complaint with the BBB. Of course, this does not mean I am perfect. What it should indicate is that I make every effort to resolve complaints to the complete satisfaction of each and every client and student.
Based on the design of my core commercial debt resolution business, I do not charge a fee unless I obtain settlement terms on a debt to my client's full satisfaction. This means they must approve any settlement before they are obligated to pay for my service. Over the years and with hundreds of cases, there have only been a handful of settlements I could not close. No settlement, no charge to the client, no reason to complain.
Regarding my Business Plan System, I always make every effort to address whatever special problems or concerns a student may have with the program. If a student decides the program is not for them for any reason and they return the material within the 45 day refund period, I always process refunds promptly... no questions asked.
I hope you will take my BBB record as an indication of how I have conducted my business from 1997 to present. Personally, I am very proud of this "zero complaint" record and I intend to do my best to keep it intact.
Scott F. Soape
Please feel free to check for yourself at: www.bbb.org.
Monday, April 6, 2009
Support
I am personally available to assist anyone purchasing my Business Plan System. You will receive support and guidance through your first two cases or for 60 days (whichever takes longer) at no charge whatsoever. Most folks are able to work cases entirely on their own after the first couple. However, if further assistance is needed, I am happy provide some ongoing input. After all, your success is of the utmost importance to me!
My office is available for questions and assistance by phone, email, fax or letter as needed while you are getting started. I encourage all my students to contact me directly if they encounter any problems or concerns. With nearly 12 years in the business, I have come across nearly every type of case!
Additionally, this blog should be used as another ongoing resource. Case examples, negotiation techniques and marketing tips are provided here regularly. Please check every week or two for new posts that may enhance your business.
I am also happy to hear from any students when you encounter special case situations or when you close an exceptional case. Your feedback is always welcome and will be used to improve my information whenever possible.
Be sure to let me know if I may help you succeed in this exiting and lucrative profession.
Scott F. Soape
My office is available for questions and assistance by phone, email, fax or letter as needed while you are getting started. I encourage all my students to contact me directly if they encounter any problems or concerns. With nearly 12 years in the business, I have come across nearly every type of case!
Additionally, this blog should be used as another ongoing resource. Case examples, negotiation techniques and marketing tips are provided here regularly. Please check every week or two for new posts that may enhance your business.
I am also happy to hear from any students when you encounter special case situations or when you close an exceptional case. Your feedback is always welcome and will be used to improve my information whenever possible.
Be sure to let me know if I may help you succeed in this exiting and lucrative profession.
Scott F. Soape
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