To have passive income in any business you first have to ‘create’ passive income. In order to do that, you need two components in your business.
Passive Income – Two Components in Your Business
First, you must sell a product or service that your customers pay for again and again. You can’t sell something that your customers pay for once and create passive income. You’ll never be able to stop chasing new customers.
Second, you need to develop a network of people that are also selling your product or service. And, when they sell your product or service you get paid. If you try and create passive income from just your own efforts you’ll never be able to stop. That is, unless you think your customers will keep paying you forever.
Passive Income in Credit Repair
The credit repair business is not the perfect industry to create passive income. I didn’t say it wasn’t great. I said it wasn’t perfect. All that means is that you have to pay close attention to both steps outlined above. Recurring payments for the credit repair and other people selling credit repair so you get paid.
Think about it. The one thing about credit repair that you must realize right away is that when you sign up a new customer the first thought on their mind is, “how quickly will this work so I can stop paying”.
All that means is that in credit repair you’re going to be signing up new customers every month. And, every month you’ll have some customers stop paying you. Therefore, you have to keep replenishing your customer pool. That isn’t a big issue for the first few years. But trust me on this, at some point you’re going to get tired of chasing new customers.
The only way to overcome what I just explained is to have other people selling credit repair for you and you get a piece of the pie. Even though it’s a smaller piece than if you sold the service yourself.
The Efforts of Other People to Create Passive Income
I know, I know…this one is hard for some people to wrap their heads around. And, even harder to figure it out and make it work. To create a system on your own that allows you to sell directly to customers yourself is hard enough. To create a system that allows others to sell for you and get paid well, and you get paid too, is really hard.
We’ve Got the System to Create Passive Income
We have a system to help you create passive income in credit repair. Not only that but this system overcomes all sorts of challenges when starting a credit repair business.
- Federal and State Laws
- Service Delivery
- Technology (websites, software, customer reporting
- Marketing (videos, brochures, landing pages)
- Payment Processing
- Developing a network of others selling the services
- Credit Repair Business Training
- And more…
It’s brilliant actually. I can’t take credit for it. I didn’t create this system. But my wife and I have taken advantage of it to build a credit repair business that generates about a $million a year in revenue and a nice six figure income. And, we do it from a home office.
Of course, there’s more to know, right? But you have to have an open mind. You have to realize that there are people that figured this out way before you even thought of having a credit repair business. The one thing I’ve learned in business is to find people that are already successful and follow what they do.
So, here’s a great suggestion. Visit the Business Opportunity page on our website. Watch a couple of videos. If you like what you see schedule a phone appointment with us.