Good credit is more important now than ever, and the credit repair industry is booming because of it. Credit Repair Nerds is leading the way.
Scott Been, Owner/CEO of Credit Repair Nerds, recently sat down with us for an interview to discuss his successful business, which as of today is 40+ licensees strong and adding new members every week. Been lets us in on the secrets to his success and just how big he sees his business getting in the next five years.
What’s special about Credit Repair Nerds?
For starters, we are the only credit repair company expanding at this pace. We are in an industry that is booming right now due to the importance of credit. I always tell our clients and licensees that you can barely wake up and get out of bed without someone pulling your credit. Everything is credit-based nowadays, so our services are needed more than ever. Plus, it’s all web-driven. There isn’t a need for brick-and-mortar or office space. Software and technology allows us to run this business from around the world or poolside, sipping on margaritas.
What is the idea behind Credit Repair Nerds?
Originally, it was to grow our already successful business. It then turned into a mission to help our licensees build their own businesses. We spend a lot of time with our licensees, training them to be a success in this industry. And in return, they produce, which in returns grows our brand on a national level.
How does Credit Repair Nerds compare to its competition?
Ah, we have ZERO competition in this industry. We are the leaders and will continue to be the leaders in the credit repair business. As far as other franchise opportunities, well, I personally don’t get into that. We all have a place in this country to grow a business and be successful. We just think that we have the lowest overhead of all industries right now. Over 95 percent of our licensees work from home. You can’t beat that.
What do you look for in a potential licensee?
That’s easy, motivation and drive. Believe it or not, we don’t just let anyone join our team. You must be willing to listen and take instructions. The business model is already a proven winner. You just need to duplicate it. There isn’t a need to reinvent the wheel.
Where do you see Credit Repair Nerds in five years?
I love this question because that is how I run this company. I’m never looking at today or tomorrow. Every move we make is to put us in a better position years from now. But, in five years, we should be 400+ licensees strong and growing as the industry changes.
Can you describe a typical day in the life of a Credit Repair Nerds licensee?
Well, if they follow the business model, they’ll find themselves working about 10 hours a week, making a good six-figure salary. But, in the beginning, there is a lot of training. Live webinars, one-on-one training, you name it. We have to do what we have to do to get everyone up to speed.
What’s your background?
I’m 10 years into the business now. Before that, I was slaving for corporate America, selling cars. I loved the car business, but the hours wore thin and I quit and started this company out of my one-bedroom apartment. As of today, we are 34 licensees strong and adding new members every week. By the end of 2015, we should be around 75 licensees. And the crazy part is, we started licensing last March. So, in just three short months, we added 34 licensees.
What motivates you to keep going?
The fear of having a real job. That is my motivation. Every day I wake up remembering what it was like putting in 60-70hrs a week selling cars and having nothing to show for it. I am so anti-corporate. To me, they are the enemy and I run my business as such. I wake up with a chip on my shoulder and I use that as fuel to never become lazy. Training and teaching new licensees the business is another aspect of what keeps me going. Every licensee has their own learning curve. I love trying to find that curve and to straighten it out. I find myself becoming a professor or, as some of our licensees call me, a guru. It’s fun building people up. As one of the people I look up to, Mark Cuban, says, “We don’t build businesses, we build people and those people build businesses.”
If you were to start again, what would you do differently?
Good question. I wouldn’t have taken so long! I should have been doing this five years ago, but as my father told me, “Son, you just weren’t ready.” So, other than that, I wouldn’t have changed a thing.
Please tell us your secret to success…
This is going to sound weird, but I don’t look at myself as a success yet. I look at people like Mark Cuban and strive to get to that level. Will I ever become a billionaire? Eh, probably not. But that won’t stop me from trying. I’m sure that question is better asked to my licensees. They look up to me, so with that, I guess I am successful. The day when others looked at me as a leader, I guess that would be considered successful. I want to see others succeed, and if I can help them get there, then it’s a success.
What is the worst job you have ever had and what did you learn from it?
Hmm, working for my father. He owned a construction company. I hated slamming a hammer for a paycheck. I was dealing with the Houston heat and humidity every day. I guess if that was my worst job, looking back, maybe it hasn’t been so bad after all.
What is the one thing that really excites you?
Being able to walk into a Ferrari dealership and paying cash (wink wink). On a serious note, just growing the business. I am now 38 years old and I’ve realized I’m not where I’m at today without some help. Being able to build the Credit Repair Nerds business and grow it the right way in an industry full of scams is what excites me. It might have taken longer than expected, but I pushed through the walls.
Any final words for aspiring entrepreneurs?
Yes! If I can build a business, so can you. I know that sounds so cliché, but I started this business with nothing. And when I mean nothing, I mean nothing. I quit the car business, got on unemployment and instead of blowing my unemployment like most folks do, I started my business. It was tough. I had a hard time keeping the lights on and paying rent, but in year three, I was clearing six figures and from there, I put the throttle down. There were a lot of negative nellies along the way telling me I was nuts. I ignored them and surrounded myself with other like-minded people. I pushed through. I didn’t give up. Did I have days and nights where I thought it would all end? Heck yeah, but I pushed through those thoughts and stayed focus on the bigger picture. Now, here I am! I can relate. Like Mr. Wonderful says, “I’ve been rich and I’ve been poor, rich is better.” I know that sounds elitist, but it’s true. I always tell my licensees, ‘Look, I’ve been there. I started from scratch. You can do it. You just have to block out your outside interference, join a winning team and take in instruction. Once you allow yourself to do that, then it just all comes together. Before you know it, you control your local market and it’s off to the races.
Where can people find out more about Credit Repair Nerds?
Visit the website here.
Where can people find Credit Repair Nerds on social media?
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