Posted on Wednesday, 13th January 2010 by admin
With more and more people buried in credit card debt, especially from the recent holiday shopping, it’s no coincidence that more and more sales offices, call centers, mortgage offices, credit repair companies and entrepreneurs are jumping head first into becoming Debt Settlement Affiliates, Net Branches and or an Attorney Based Debt Resolution Affiliates.
The simple fact is, there are no barriers to entry except a physical presence, a sales force, debt settlement and or debt resolution leads and money to carry you until the monthly fees start adding up. Realistically, this can take a long time and many have learned the hard way in not preparing themselves for the little amount of money coming in (*in the first 6 months) and what is coming in is going to your sales force, so they can eat. There’s no way they’re going to wait months to get paid.
So what’s the answer to being able to stay afloat while building momentum to be cash flow positive? There are many answers, but here are the top 5.
1) Make sure you’re being paid accelerated commissions from your back-end debt resolution company. This means that you’re able to capture 35%-50% of your fees in the first 3-5 months. This wasn’t an easy find, but we found a company that offers this to their debt resolution affiliates and net branches. (see below)
2) Whoever is running your sales office, whether it be a manager, team leaders or just you, that person or those people need to be on the phones out sitting with everyone else. This business is so easy and if your sales agents aren’t closing at least 1 deal a day each (that’s 20 deals each a month) then you need to consider what you’re missing.
3) Find a debt resolution company that offers quality sales training. Each week, you jockey to hire the most qualified agents and after a while, you may find yourself just sitting them down next to others (generally the producers), but what if the new trainees could watch debt resolution sales training videos and listen to ongoing conference calls that enable even the best of the best to walk away “fired up”! Oh, it’s the same company we found from above. (see below) This company is like a marketing company that emphasizes ongoing, free sales training for your sales force. Makes sense.
4) Make sure you’re able to settle debt in 48 states. The green states are diminishing and marketability is crucial. FYI: there is no difference between debt settlement and debt resolution except that with debt resolution, attorney’s are settling the debt. Moreover, these attorney’s were smart enough to create an attorney network, so that’s how they’re able to settle debt nationwide.
5) Invest in leads. Today’s leads for debt resolution and debt settlement are worth buying and those that are, are killing it! Everyone and their mother (literally) is over their head in credit card debt and they want your help. I don’t have a lead vendor or referral for you, but I’ll explain more about what your customer acquisition cost should be, the pros/cons of different lead types, filters, and more in my next article.
MerchLeads – http://www.merchleads.com has the accelerated payout and is good in 48 states. The direct phone number to speak to an affiliate account manager is (800) 677 – 1194. Learn more about becoming a debt resolution partner at http://www.merchleads.com/NewOffice.html.
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Tags: Debt, Debt Settlement
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