Debt Settlement Company Moves to Accelerated Commissions to Cover Overhead
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 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 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.
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, sitting alongside 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 and or your sales leader(s) aren’t either.
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”!
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.
5) Invest in leads. Today’s debt resolution leads 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.
By: Rich Preisig
Tags: 5 Months, Amount Of Money, Barriers To Entry, Call Centers, Coincidence, Commissions, Company Moves, Credit Card Debt, Credit Repair Companies, Debt Resolution, Debt Settlement, Jockey, Mortgage Offices, Physical Presence, Quality Sales, Sales Leader, Settlement Company, Simple Fact, Team Leaders, Trainees