Secrets to Making a Million Dollars in Credit Repair with Bobby Richardson

Hey, credit heroes. Today we're going to talk with credit repair millionaire, Bobby Richardson. Bobby had an issue with his credit. He learned how to fix it. He started a credit repair business and he grew it to over a million dollars in a very short time. And today he's going to share his secrets on exactly how he did this. So you better stick around.

So the big question is this. How can we take our passion for helping people with their cred and turn it into a successful business without taking loans, without spending a fortune by bootstrapping it from nothing so we can help the most people and still become highly profitable? That is the question and this podcast will give you the answer. My name is Daniel Rosen and welcome to Credit Repair Business Secrets.

Okay, before I dive in, if you are new to my podcast, be sure to click to subscribe and and turn on notifications so you don't miss any of the secrets that I share each week on the Credit Repair Business Secrets podcast. And if you want me to hold you by the hand as you launch your very own credit repair business, go to creditherochallenge.com okay, let's get into this. Bobby Richardson is widely known as Mr. Credit Yourself. He started a credit repair business as a side hustle and in a very short time he was able to quit his 9 to 5 and fire his boss. And now he creates jobs for others and he's built a seven figure credit repair business and today he's going to share his secrets on exactly how he did this. So please welcome to the podcast Millionaires Club member, Mr. Credit yourself, Bobby Richardson. Hey, Bobby. Welcome to the podcast.

Thank you, Daniel. Thank you. I'm excited to be here. I appreciate you guys. I appreciate the platform. It definitely been a game changer for me, my life, my family and my clients.

Well, I'm so excited to hear that and I can see by all your success, congratulations on making it to the millionaires club. How does it feel?

Honestly, it feels amazing knowing that I earned my company and myself earned over a million dollars off helping people build their dreams as well. So in 2019, before I even started my consumer credit company, right, I made this shirt, I made this vision. You see what it say? Made millions off credit. Established 2019. That's when I started my company. So when I started a company, I had one thing in mind was to help people. Once you help people, the money will come. The money will come flowing in. So it feels good. It feels amazing. Doing what I love to do.

That's awesome.

Where are you? Where do you live?

So Currently I'm in Montgomery, Alabama. So Montgomery, Alabama, you know, it's not as big as other states and cities. It's definitely small. But you know, for me to be able to do this in Montgomery, Alabama, that speaks volume that anybody can do it from anywhere in the world.

Amen to that. Now, did you grow up in Alabama?

I grew up in Montgomery, Alabama. I have two brothers. My mom was a single parent at least 90% of my life. So for me to beat all those odds, man, I'm telling you, it's definitely amazing. It's amazing.

So awesome.

What were you doing before credit repair and what made you learn credit repair?

Before credit repair, of course I was working in 9 to 5. But I'm gonna go ahead and tell you what made me jump into doing credit repair. So in 2017, right, 2017, I knew my credit was bad, my fiance credit were bad, right. We went to the dealership because she needed a car, her car broke down. At the moment, at the moment, we had a son, we had my son. So I'm like, you know, we gotta do what we gotta do to make it from point A to make it to point Z. Because we both had jobs, we didn't wanna lose our jobs. So what I did, I went to the dealership, a big dealership. I let em ran my credit, they ran my credit like 15 to 20 times.

Oh no, that's terrible.

That's terrible. So if you know someone running your credit 15 to 20 times, most likely you have bad credit, right? So I ended up going through with the loan, man, sometimes I don't even like to talk about it, but I'm gonna go ahead and talk about it. So went through with the loan, the car was like $14,000. But when I signed the paperwork on the contract, right, when I signed the paperwork, I was, they was charging me like 24% interest. So I was gonna be paying double for that vehicle. Wow. So I ended up taking that vehicle. I ended up taking that vehicle. I felt so bad after taking that vehicle. After I seen the total financed amount, which was double of the car, I felt really bad. But I know we had to do what we had to do at the moment. So after that I told my fiance, I said this will never happen again in life. So within one year and a few months, I fixed my own credit and I fixed her credit and some family members credit along the way. And then that would make me fell in love with the credit repair business.

That's so awesome.

And then how did you actually start to turn it into A real business.

In 20, 20, 19, right after I fixed, you know, my credit, family members credit, getting approvals, getting big lines of credit and everything like that, I decided to, of course, open a business. It changed my life, it changed my family life. And I told myself if it can change my life, it can change anybody life. So I wanted everybody that I come in contact with to feel good credit, how it is to have good credit. It's a different feeling. It's a different feeling. I know you have great credit, Daniel. Right.

I do now.

I didn't used to exactly, but it's a different feeling. It's a feeling that you can walk anywhere, you can go into any dealership, you can get any house almost, you know, depending on your income, you can get any apartment you want. You can just do a lot of things right.

Sure. And it gives you a feeling of.

Security, filling up security, filling up security. So if you don't have the extra capital in hand, like cash in hand, you can always use your credit to level up. So in 2019, I wanted to open my business and to help other people. So that's exactly what I did. I found me a mentor. Right. I use credit. That's what I'm telling you, how powerful credit is. I found me a mentor. I didn't have the $3,500 at the time to invest in a mentor, but I use my Chase credit card invested in me, a mentor for 3500 and that 3500 now turned to millions of dollars. So I use credit to level up my life and others life even more just by investing off credit. So that's how I got started.

That's awesome.

And is this your very first business or have you always been entrepreneurial?

This is my very first business. So I started working at 9 to 5 on a military base with my 9 to 5. Of course I wanted to move up and things like that, the management and stuff. I was there for like six or seven years. But I noticed I hit a roadblock. I hit a roadblock. I wasn't moving up like I wanted to. So that made me do what I need to do to become an entrepreneur, to help others reach success. And that would allow me to leave my 9 to 5 within two years. So 2019, I started a business. December 2020, I left the 9 to 5 world. But at the time I was already making high six figures. So I was going to work, working 40 hours, come home doing credit, you know, doing everything on my own. And it just blew out of proportion. I had so many Clients. And I told myself, and I told my friend, I said, I gotta leave, it's time for me to leave. I can't stay here.

Wow. And I can see that this business has changed your life a lot. But I want to know how has it changed your family's lives?

With my family, mostly everybody now in the family, they are paying attention to credit. Right. Before then, nobody in my family talked about credit. Nobody in my family really knew about credit. So I come from a household where it was cash only. Credit was bad. They told me credit was bad. Do not get credit cards. You do not want to do that. So I knew in my mind I'm like, well they saying it's bad. And I see some people like, you know, doing good off credit, living off credit. So I wanted to tap in and I wanted to, to really experience that. So once I experienced that and I brought it back to my family, now it's changing everybody life. So it changed our life as a whole with the education standpoint and of course the income as well.

Amazing. And I know I was peeking at your Instagram, I know that it also changed the life of your mom quite a bit. Can you tell us about that?

Yes, sir. So recently I retired my mom. She was working a 9 to 5 at the hospital, right. So I had the honor man to retire my mom 15 years early. That's crazy. That's amazing. Like, I retired my mom, I retired my fiance, that's about to be my wife now. And it's just amazing, Daniel. It's amazing what credit can do for you.

That's so cool. How many clients do you have today?

So currently today I have over 1500 clients. I had way more than that. But of course, you know, as you get clients in and out, you know, the clients go down. So as you add more, of course it go up. But we focusing on getting people out as quick as possible by using the laws in their favor.

Awesome.

Now I want to know how were we able to get so many clients and scale your business so fast? We what's your secret?

So with me, I started off being myself on social media since high school, junior high school, I always been the class clown. So I wasn't this, you know, guru person who all about the books. I was the one who wanted to be a smart ally who want to joke all the time and play with everybody, make everybody laugh. You know, sometimes people come in, they upset. So my job in school was to make them laugh. So with me, I took that and I transformed it into the credit repair world. Into my business. So what I would do, I would upload funny things on the Internet. Dealing with credit about me beating up the credit bureaus and things like that. And people just would tune into it and people would like it, like, oh, man, Mr. Credit yourself. That is so funny. So I attracted people by being myself. So I tell people, be yourself at the end of the day and the clients will come. But I first started off taking like 10 or 15 free clients. Out of those 10 or 15 free clients, I told all those clients, I know, you know, 10 or 15 more people who need credit repair. And everything is. Has been word of mouth ever since then. I never ran one ad for my credit repair company.

Wow. So you're. You're doing all this on social media?

Social media Organic. Never ran an ad.

Wow. I know. You've got over 20,000 subscribers on Instagram. What's made you so successful there? And what's your strategy on Instagram?

So me with my strategy on Instagram, like I said, doing the same thing. Right. Being myself, being funny. Right. And then of course, now I've been able to grow because of course, I have a mentorship program. With my mentorship program, a lot of my students refer other students and refer other people to me as well. So all of those people, Paladin, everybody following me, everybody loving the content and everybody seeing my journey from the bottom to the top makes relate to where I come from.

Wow, that's awesome.

And I didn't realize you had a mentorship program. What can people learn in that?

So I started about three and a half months, three and a half to four months ago. Of course, we teach the credit repair from A to Z. We teach the Consumer Laws, Truth and Lending act, the fcra, fdcpa. We teach, of course, how to open your turo business. I don't know if you ever heard of that Airbnb business. So we teach multiple things, how to open multiple businesses, trucking business, everything. So I teach a lot of different streams of income in the mentorship, not just credit repair.

Awesome.

Now I want to get back to marketing. So how often are you posting on Instagram a day?

I probably post 10 to 20 times a day in my stories. 10 to 20 times a day in my story.

And you're posting on Facebook as well?

I'm posting on Facebook as well, but I mainly post on Instagram because my biggest audience is on Instagram.

Awesome. How did you learn all this? Was it just trial and error?

Trial and error and actually going on YouTube and things like that. You can all you can learn a lot from YouTube, dealing with marketing. And I realized with marketing it only takes you being yourself. Don't try to be nobody else. Be yourself and the people is going to follow you. People like to follow people who they can see. And they know that's authentic, right? Sure, they know you authentic. So if someone come on my page, they see me posting about this, that is never. It's not always in line, it's not always pretty when you come. When it comes to my Instagram page, so people know it's a real person. People like to do business with real people.

Absolutely. So do you often tell your story and tell stories of clients and their success stories? What are the kinds of things do you post?

I post client success stories. People getting houses, people getting cars, people getting credit cards. Some of my clients we been able to help to start new businesses off of their credit.

Wow, that's awesome.

Now once leads come in from Instagram and Facebook, what's your lead follow up strategy.

So my lead follow up strategy, I have links in my bio, like a link tree linktree. You can put all your links on your link tree to everything that you offer all your services. So when people come to my page, if they like anything that I'm doing, I have an ebook on there or that they can go to if they want to do it on their on their own. Because I always tell people I fix mine on my own. You can do it too if you just do the work. All right. Like I said, I have my coaching links on there, I have my credit repair links on there. So someone want credit repair, of course they click the link they book. Once they book on my acuity link, it goes directly into credit repair cloud as a lead and from there they have an appointment and my sales team reach out for the follow up. And then of course, if we land them right, if they become a client, then of course they move over to my own boring team and from my onboarding team, they move on to my dispute team. So we have five departments set up to have everything running like a machine.

Wow, that's so awesome.

How big is your team?

So my team right now only have seven people right now. And the seven people that I have, everything running perfectly fine.

Awesome.

And do you have an office or do you work from home?

We work from home. We working from home. Everything is virtual right now. And that's been a big game changer as well.

Wow. So in the beginning, how long was it just you before you hired a team?

In the beginning it was from September 2019 up into, I would say September 2020. So about a year before I hired my team.

So what was it like as you started getting busier and busier, doing this all by yourself?

Daniel I had to hire. I had to hire. I had to quit my 9 to 5. That's what drove me to quit my 9 to 5. Because around that time I went to a business conference. And when I went to that business conference, I came back. I noticed that I had so many tasks that I had to do. I was caught up. But I had so many tasks that I had to do to the point that I knew that it's time to get help. It's time to get help. So once I got that help with my team, I built a whole team and everybody. And the team that I built, all my employees was like God sent, heaven sent. I'm gonna say that because everybody was on the same page that I needed them. Right. So for my sales team, they was great closers. My own born team, they was great as well. My customer service team, they was great at communicating. My dispute team, they was great at disputing. They was already some disputers like six or seven years prior. So everything fell in line for me at that right moment.

Wow, how lucky. Well, you're good at hiring. You've got a good picker. Do you have any tips for people listening? Tips on growing a team?

My tips on growing a team is to first get in your business and do everything yourself first so you can know exactly what you are looking for. I notice a lot of people get into like any type of business and they get to searching for employees or trying to automate the business, but they don't know what they're looking for because they never done the job on their own. See, my job was what I was doing. I say, you know what, I'm take it day by day. I'm going to take it step by step. I'm not in a rush. I'm going to do everything. So when I do hire a team, I'm able to tell them, okay, this take that long? This shouldn't take that long, Right? So that was my way to build my team by me doing all the work myself and then automate my company.

Very, very smart. Okay, so now that you have a team that you can delegate the work to, what do you focus on now? Every day.

Every day. Now I'm focused on growing my mentorship program. So currently in my mentorship program and value every day I'm bringing in new speakers as well. And I have A segment in my mentorship program called Additional streams of income. So each and every month, I bring in at least one to two more new people on different streams of income in the world. So my students can have as many unlimited streams of income as they can or how many that they want.

That's awesome.

And you mentioned Turo. Do you use Turo?

Turo? I do use Turo.

How many cars do you have that you're renting out?

So right now, Turo. I'm only written one car on Turo.

What kind of car?

So it's just a Escalade, A Cadillac Escalade. So it's a business vehicle. But of course I'm using it, you know, to make extra income.

Sure. No, I know that a lot of credit heroes have been posting that they. That they run that on the side, and it's pretty amazing.

But I have students who have a little bit of everything, like, you know, Lamborghinis, Ferraris, and everything on Turo. So it's definitely a big market.

Wow, that's awesome.

What's your advice to anyone just starting out with their new credit repair business?

Okay, my advice for anyone starting out with the new credit repair business is to be patient and not get scammed. Right. Because as we know in any business, a lot of people of course, you know, talk, you know, like, they can do this and that for people and stuff like that. And then of course, you know, by people being so new to certain business and business models, they fall directly into the trap. So my thing is to do your due diligence. Do your due diligence. On. If you trying to find a mentor, do your due diligence because at some point you is going to need some help. At some point you can, you know, you can run a successful business without help in the front end, but on the back end, you're gonna need that extra push because some things, of course, you're gonna be missing. So my advice is to be patient, do your due diligence, and do your research and study. I didn't build my business as quick without studying, so my thing was to study the laws and things like that within credit repairs so it can make sense. Once it made sense, I was comfortable enough to take all the volume that I was getting at the moment.

Very smart. What are some of the biggest mistakes you've made in your business?

Not hiring as soon as possible was one of my biggest mistakes. Another big mistake that I made in my business as well was after I hired, I was still being people in my company that I shouldn't have been like, I was still being the sales rep at times, right? Because it was so hard for me to let go of what I love to do. So I was being a sales rep at times and, and at times I still would be in a dispute specialist. But I had to realize in order for me to continue to grow, I must trust these people that I delegate the task too. So that was one of my biggest mistakes as well. And another big mistake as well was time management. So in business, you know, sometimes you, you can get excited by, of course, posting things on your social media and stuff like that. And then sometimes social media can keep you stuck by seeing all, you know, other people's success, your success and things like that. And you still have other things to do and you still have to as an entrepreneur. So those are some of my biggest mistakes as a business owner. Starting off.

Gotcha. We're going to switch gears for a minute and we're going to go and do a rapid fire round of questions where just answer the first thing that pops into your head. Okay. What's the most important lesson you've learned as a business owner?

To be patient.

Cool. What's your biggest superpower in business?

Communication.

Awesome. What does business ownership mean to you?

A business owner should mean that you should be able to delegate the task that you was once doing.

Smart. What drives and motivates you?

Waking up seeing my family face without having to go to a nine to five.

Awesome. And what's your definition of success?

My definition of success is having your time back. You can never get time back. So having your time is the definition of success to me. Owning your time.

Amen to that. Speaking of time, if you could go back in time, what do you know now that you wish you had known when you first started?

Well, what I know now, if I could go back in times, I wish I would have knew more about credit before I did. I wish my family taught me credit before I had to go through what I went through. But I went through everything because that.

Was a testimony I hear that I didn't learn anything about credit from my parents or my family either. I was in the same boat as you. Hey, how can people learn more about your credit repair mentorship and your program?

So if they want to learn more about my program, they can go to, of course, Mr. Credit yourself on Instagram, or they can go to credityourselfacademy.com and of course they can see exactly what I offer as well.

Awesome.

Bobby, I want to thank you so much for your time today. You are amazing. Congratulations again on the Millionaires Club and all of your success and thank you so much for being here.

Thank you, Daniel. Man, this program, this software, like I say again, was life changing. Like, I appreciate you, Keenan, whoever else you have on the team. I appreciate you guys for launching this, man. It's been a game changer and it changed my life, my family life. It continues to change my client's life, you know, year by year, month by month, day by day, hour by hour, man. Like, I love it. It's a business that I love to do. And another tip to people who's getting in this business, do not do this business if you don't love this business. Only do it if you love it. If you passionate about changing people's lives, do it. Don't do it for the money, because anything you're doing for the money will not last long. Only do it if you love it. If you love to do it, the money is going to come and you're going to get an abundance of it.

Amen to that. That's a good place to leave it. I want to thank you again for being here. You are amazing, everyone out there. If you are enjoying this podcast, click below to subscribe so you don't miss any of the secrets we share each week here on the Credit Repair Business Secrets podcast. And if you're feeling kind, do me a favor and rate me and review me. Give me a thumbs up, leave a comment, ask a question, because I read each and every one of them and I will see you on the next episode. And until then, be a Credit hero and keep changing lives.

Hey everybody, it's Daniel again, and really quick. I'd like to invite you to join what I believe is the best thing we have ever created inside the Credit Repair cloud community. And it is a challenge that we call the Credit Hero Challenge. If you're just planning out your business or you're just getting it started and you dream of having a successful business of your own so you can quit your 9 to 5 and fire your boss and have financial freedom or so you can add another revenue stream to your existing business, if that's your dream, you need to get into this challenge. We created this challenge to help you to create and launch your very own Credit repair business to build a proper foundation for a really successful business. This challenge is going to help you to understand the strategy, the tactics and all the things you need to be successful at Credit Repair. It really is the greatest thing we have ever built and it will change your life. So I recommend you do it right now. Stop everything. Pause this audio, go online, and go to creditherochallenge.com that's creditherochallenge.com and join the next challenge. And there's a challenge that's starting in just a few days. So go get started right now@creditherochallenge.com.