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From Start-Up to Success in a Year: How to Grow a Hugely
Successful Credit Repair Business
The old saying would have you believe that “There’s no such thing as an
overnight success,” but Leonides Valdez isn’t far from that. A year ago, he started his own credit repair business in San Antonio, and in that time he’s gone on to employ a staff of 12 who support up to 500 customers in 40 states, and he’s not done yet. He recently met up with Jason Setzer, host of the Local Talent podcast, and told him that his future plans include opening more locations and employing
a further 18 members of staff.
So what does it take to grow a credit repair business from the ground up? Leo shared his entrepreneurial strategy with Jason:
You’ve Got to Understand the Credit Repair Game
Leo didn’t come into credit repair cold because he worked as a regional manager for another credit repair firm. He also worked in sales, so he knew how to talk to customers and that he was motivated by the prospect of earning commission.
The big push that made him start his business was an argument with his old boss who was withholding paychecks. Leo knew he had the experience and determination to set up his own credit repair agency. His knowledge of the game means that he can promise real improvements to his customers’ credit rating within four weeks.
Knowing Who and How to Hire
A lot of entrepreneurs are pretty single minded and don’t want to get other people on board. Leo’s not like that. Right from the beginning, he knew he wanted to operate as an agency with a team under him. Having that vision allowed him to delegate tasks more easily and has helped the business to grow quickly and sustainably.
Leo is quite picky about the people he hires, therefore, he prefers to hire candidates without knowledge of credit repair so that he can train them to his business model. He likes people who are motivated, fun, and family-oriented, and he rewards them by giving them flexibility with their working life and consistency with their paychecks. In his words, he’s not an asshole boss.
Creating a Range of Quality Credit Repair Plans
How do you determine the worth of the service you’re selling? That was actually pretty easy for Leo. He walks Jason through the sales pitch of his premium plan, explaining that he’s guaranteeing at least a 100-point gain on your credit score within six months for only $1200, and those 100 points could get you a loan for your dream house or to buy the car you’ve always wanted. This is the most popular credit repair plan that he sells and it’s not hard to see why!
A few months into running the business, Leo had a tough decision to make and he decided to stop selling his budget credit repair plan. Although this plan had been very popular with customers, Leo realized that it was too much work for too little reward and it wasn’t a viable business strategy. As Jason points out, “It’s great to help people, but you gotta help yourself first.”
You Gotta Grind
Starting a business is hard work because you have to be prepared to put in the hours and figure out whole parts of the business from scratch. Leo’s worked holidays, nights, and weekends to become one of the best credit repair businesses in San Antonio. His motivation comes from the fact that he really loves to help people because he gets a lot of satisfaction from seeing his customers set up in their new homes, happy with their lives.
It’s not all grind for Leo because he knows the importance of relaxation. He takes time off to unwind, regularly inviting his family over for beers and barbecue because having time off and a great support system has helped his credit repair business go from strength to strength.
Tune in to the full episode of Local Talent to hear Leo’s full interview which includes some really helpful tips on how to improve your credit score, and subscribe to Local Talent: The Entrepreneur’s Handbook podcast to hear more funny and interesting interviews on business and entrepreneurship with Jason Setzer and his special guests.
You Can find Leo by going here: nationalbestcreditsolutions.com
You can listen to the podcast here:
Or you can watch the podcast here:
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