Daniel Rosen talks with a guest about why early businesses fail: clients expect results in days instead of weeks, nobody explains timelines upfront, and there's no system for referrals. Set expectations at 30 to 45 days for responses, educate clients before you start, and build referral systems that actually work.
About 30 to possibly 45 days.
What were some of the biggest obstacles you faced when starting this business and how'd you overcome them?
I think it was getting results in the beginning. I think a lot of people have this belief that they can just send out a letter and that they're just going to be able to get miracles out of it. And if they don't have the right plan and strategy, they're not going to get referrals from that client. And then also, the second thing is managing expectations. Oh, I was with XYZ firm. I've been with them two months and they haven't gotten anything. I'm like, in most cases, it's going to take 30 to possibly 45 days to get a response back from the bureau. So it's the mistake of that firm for not properly educating the client. And if you don't properly educate the client, then the client's not going to have the right expectations for you to manage. They're going to talk bad about you, they're not going to be happy, they're never going to refer you, and it's just going to be a problem. So I think the number one key is having a really, really good plan for the client, properly managing those expectations and building out a system at the end to get a referral. If you're not building it out properly, then you're never going to have a real scalable business that's going to grow.
