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The problem with most every home business is it’s either too expensive to set up, takes too long to begin showing a profit, or the “learning curve” is just too difficult or too time consuming for the average person.

Even worse, a lot of offers related to home business that you find in magazines, your mail, and on the Internet are outright rip-offs. That’s not to say they take your money and don’t deliver the product. They deliver the product all right; it’s the product that doesn’t deliver. Why? Because the home business “program” was designed to make money for the vendor, NOT the purchaser.

But there are ways to make money in a home business that are realistic, don’t cost an arm and a leg, and can be quickly learned with just a little time and effort. The business of Credit Repair is one such business.

Now the very name “Credit Repair” may sound intimidating to some, probably because there are high priced agencies and attorneys who practice it and charge thousands of dollars for their services. But that doesn’t mean they do anything the average person can’t do himself, given the proper knowledge. Nor does it mean credit repair can’t be done as a home business, rather than from an office with dozens of employees.

Before we continue, some explanation is in order. To start with, there are 3 major agencies in the United States who keep records of the credit histories of hundreds of thousands of Americans. These agencies are called “Credit Bureaus” and their names are Experian, Equifax, and TransUnion. They’re private agencies, have no connection with the US (or any) government, and are a billion dollar a year industry.

Do you want to take out a mortgage? Your lender will be checking your credit history with one or more of the credit bureaus. And once you get your loan, he’ll be reporting your payment history to the agency as well. And based on the information in the credit bureaus’ records, you’ll be assigned a “credit score” that lenders look at to determine your credit worthiness.

The business of credit repair involves contacting the bureaus in an attempt to improve a client’s (or your own) credit score. The process really isn’t that difficult, and involves a few simple steps.

1. Have the client get a copy of his credit report from each of the 3 bureaus. This can easily be done online at http://www.annualcreditreport.com

2. Write letters to each of the 3 bureaus and dispute negative information on the credit reports.

By law, the bureaus then have 30 days to verify the disputed information with the original creditor, or they must delete it. They must then report their findings to the consumer, and also send a copy of the revised credit report.

3. When the credit bureaus respond, examine the revised reports and continue to dispute additional negative items.

You may be thinking “So is that it?” Well, while this explanation may be a bit oversimplified, generally speaking, the answer is “Yes, that’s it!”

If you perform credit repair for pay, there are some legal matters you need to deal with to avoid running afoul of the law. For instance, some states require you to be bonded or licensed. You’re also required to inform clients of their legal rights, and to give them 3 days to rescind their decision should they decide to accept your services.

But these steps aren’t anything you can’t do as a home business entrepreneur. They’re intended to protect the consumer, and in general, are good practices that any ethical business person should be following anyway.

So if it’s that simple, why do agencies charge thousands of dollars for their services? Very simply, because they can get away with it! Most people just aren’t aware of how uncomplicated the process is, or would ever believe they can do it themselves.

Now if you’re looking to start a home business that will make you rich overnight without any effort, then credit repair isn’t for you. But then, neither is anything else. You’d do better to embrace more realistic expectation, or you’ll be forever wasting your money on the home business “programs” we mentioned earlier.

But if you’re willing to invest some time and effort in a realistic home business, you might want to take a closer look at credit repair. Compared to just about every other home business it has all the advantages. It’s one of the easiest to learn, least expensive and quickest to start up, there’s a huge demand (nearly 1 of every 3 Americans have some credit problems), and you can make some very, very good money. You can also choose to do it part time or full time. The choice is entirely yours.

To get started, you’ll need to do two things.

1. Get a good book on the process of credit repair and spend a little time familiarizing yourself with the process.

2. Do some research into the laws pertaining to credit reporting and credit repair companies, specifically, the “Fair Credit Reporting Act” and the “Credit Repair Organizations Act.”
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Sometimes new money making ideas are immediately usable. However, sometimes you just have to let your imagination run wild and be impractical. This is a way to get that creativity going, and no matter how crazy the ideas may seem at first, there is usually a way to bring them down to earth, as in this first example.

Rental Cabins In The Air

I started with a crazy thought: “What if people could rent a cabin up in the sky for the weekend?” Right away my mind tries to make sense of the idea, and because the over-all goal is to have profitable innovations, it looks for ways to make it into a money making idea. I first imagined cabins which are suspended under large hot-air or helium balloons.

As much fun as it might be, this didn’t seem very practical. When I explored the idea further, though, I wondered if existing balloon-ride businesses could tap into other markets. If, for example, the gondolas were outfitted properly, and the balloons tethered, so they could be allowed to float two thousand feet overhead, would meditators then pay for a peaceful meditation retreat in the sky?

Another thought came to mind. Balloons could be high in the air, but easily cranked back in on a line. This might be simpler and cheaper than traditional rides, which involve chase vehicles and unpredictable landings. Perhaps this could be another way to make money with the balloons, charging a lower rate for simple up and down rides, and so getting new customers that couldn’t afford the usual rides.

This is how a crazy idea comes back to earth. Perhaps even the “weekend cabin in the sky” idea could someday be a money making idea, but if not, that’s okay. The point here is to get the creative flow going, and then find more practical ways to channel the output.

More Crazy Money Making Ideas

The following are pure imagination. I leave it to you to find a way to make these ones into potential money making ideas. Good luck and have fun!

- Put seats on the wings of an airplane and sell rides to thrill seekers.

- Sell advertising scratched out on the face of the moon.

- Rent out the animals at the zoo.

- Start an underwater school.

- Make a roller coaster course people pay to take their personal cars on.

- Sell pets genetically engineered to die young, for those who hate long-term commitments.
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Fixed price contracts are the best and safest method when working with a customer for the first time. This puts the customer as ease and it reduces your risk of not being paid at all. With this first fixed price contract your main objective is to establish the willingness and ability to pay. After that you can build the relationship.

It’s important to note that when you establish a fixed price contract you do that with a customer – not a client. Until a customer has proven that they’ll be with you through the duration they are a transaction related customer. They are not a long-term client yet. When you first start out with somebody if you set up a price fixed contract the customer will be a lot more receptive because they perceive lower risk.

This perception may mean a lower margin for you because your fixed price contract is less per hour than you normally charge. Don’t worry about this. The more important objective here is to turn this customer into a client after you have established the willingness and ability to pay.

Fixed Price Contract Conditions

Doing price fixed contract work is only viable if you have very a defined project. It is very difficult to do with an emergency service call. You don’t know what you’re walking into. Keep that in mind. Don’t do foolish things like committing yourself to spend three days on a server rebuild for a fixed rice contract of $250.

Include in every fixed price contract two or three sentences that explain that it is subject to credit approval. If you grant credit, always leave yourself an out if they refuse to give you a credit application or the credit application is incomplete. This first fixed price contract is the riskiest. Because of this you want to do things that are in your own best interests.
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As a Career Consultant, I work with clients on all the tools and techniques that are needed to succeed in the job search – including interviewing skills. One thing I have noticed over the years is that candidates often get “trapped” in certain interview questions that are designed to make them say something negative or self-defeating (which generally leads to rejection). Indeed, job-seekers are not even aware of how negative many of their answers sound at interviews! So, I instruct all my clients to “never say anything negative, or anything that could possibly be construed as negative!” Candidates can avoid being disqualified by stating all their answers in positive (or, at least, neutral) terms.

The following are some of the most commonly-asked interview questions, along with suggested approaches for answers. It is important that job candidates practice these responses until they are able to handle all the questions effectively.

Why do you want to work here? How can you help our company? Why should we be interested in you?
Answer is always based on information you’ve researched in advance about the company and their needs.

If you were choosing someone for this job, what kind of person would you select?
Answer is to generally state your own general qualifications, without being too “obvious.” Leave out the details.

If you could have any job which one would you want at this company?
Answer has to do with the most general description of the job – NOT A SPECIFIC TITLE.

What weaknesses do you have for this job?
TRAP QUESTION. Never state anything negative! Answer is to ponder for a while and then state that you can’t think of any weaknesses that would compromise your performance at this job; or negatively impact your performance of the job’s responsibilities.

What do you expect to get in this job that you haven’t gotten in you current/previous job?
TRAP QUESTION. Do not say anything negative. State that your current/previous jobs have met or exceeded your expectations. With the new position you would hope to have broader responsibilities and make greater contributions.

What do you see as your future here?
I would expect to be contributing at higher levels and have increased responsibility over time.

Are you considering other positions at this time?
TRAP QUESTION. Simply say “yes.”

How does this opportunity compare?
From what I’ve heard so far, very favorably … and I would like to learn more.

What other companies/opportunities are you looking at now?
As I’m sure you can appreciate, I’m not at liberty to say as I am still in discussions with these companies. I need to protect their privacy, as I would for your company under similar circumstances.

What are your short and long term goals?
Short range: To secure an appropriate new position where I can apply my skills and experience to increase the company’s productivity and profitability.
Long range: Assume more responsibility and make greater contributions over time for my employer.

What motivates you?
Focus the answer on your core values, and also on the values and priorities of the company you are interviewing with (which you should have identified through your preliminary research).

What have you done to improve yourself during the last year?
Talk about professional development, training programs, educational curricula, study in your field, on-the-job training, skill-building, relevant books you’ve read, etc.

How do you spend your spare time?
Say something inoffensive, apolitical and innocuous. (reading, exercise, travel, home projects, gardening, family activities, home projects, etc.)

Tell me about your health.
My health is excellent.

If you could re-live your last 15 years, what changes would you make?
Nothing is perfect, but overall I would say that I’m quite satisfied with the way my life and career have developed – so I wouldn’t make any significant changes.

Tell me about your greatest achievement/disappointment in your life.
Give one personal example (like meeting your spouse and getting married; putting yourself through college and graduate school; or saving-up to buy your first house, etc.). Then give your best professional accomplishment story. As for the disappointment, give an answer similar to the one above, implying that “overall, I would say that I’m quite satisfied with the way my life and career have been developing, so I really can’t think of any major disappointments.”

What did you like best/least about your last job?
TRAP QUESTION. Never state anything negative! Explain what you liked best. Then say that while every job has its challenges, you have been fortunate enough to learn and grow professionally in each of the positions you have held.

In your last position, how much of the work did you do on your own, and how much as part of a team? Which did you enjoy more?
Talk in terms of your flexibility and adaptability – your ability to work in whatever mode seems appropriate to the situation. Make it clear that you have been equally effective in teams or working independently, as each case demanded. You enjoy both; it’s more about what will work best for the project and the company at that time.

What are some of the more difficult problems you have encountered in your past jobs? How did you solve them?
Tell two or more pre-prepared accomplishment stories. Keep it POSITIVE!

Did you ever make suggestions to senior management? What happened?
Say “yes.” Tell some accomplishment stories and results, in which you positively influenced senior management.

At your previous job(s), what did you think management could have done to make you function more effectively as an employee?
TRAP QUESTION. Never state anything negative! Say that the employer was very good in providing resources and support to your position, and that you have no complaints about this.

What has kept you from progressing faster and farther in your career?
TRAP QUESTION. Never state anything negative! State: “I don’t know what could have given you the impression that I am dissatisfied with the progress and pace of my career. I am quite satisfied with where my career is at this point in my life. However, I am ready to take on greater challenges.”

What else should we know about you?
Tell one or two more of your best accomplishment stories. You can also repeat how well-suited you think you are for the opportunity, and how interested you are in the job.

Tell me about the best/worst boss you’ve ever had.
TRAP QUESTION: Never state anything negative! Say that while every boss has been different, you have worked productively with, and learned something from, each one. (Be prepared to give some examples of what you have learned.)

Everybody likes to criticize. What do people criticize about you?
TRAP QUESTION. Never state anything negative! Say that you can’t think of any criticisms you have received from colleagues on the job. Of course, there have been areas for development – such as when your supervisors would have given you your “employee review,” and they might have made a suggestion for improvement. State that you have always taken these kinds of suggestions seriously and have taken steps to make the improvements that were requested, and that this has made you stronger as a professional. (State at least one example).

Everyone has pet peeves. What are yours?
TRAP QUESTION. Never state anything negative! Turn this question around, by talking about your high professional standards. Your only “pet peeves” are with yourself – pushing yourself hard and not accepting mediocrity, for example – or how you are always striving to reach your full potential on the job, etc.

What is your leadership style?
Talk in terms of your flexibility and adaptability – your ability to lead in whatever mode seems appropriate to the situation. Explain that it’s more about what approach will work best for the project and the company at that time. Give an example or two, demonstrating different leadership styles, using your accomplishment stories.

Are you geographically mobile? (or) Are you willing to put in a lot of extra time?
Ask for clarification – what exactly does the interviewer mean? Then, according to their answer, either say, “that would be no problem at all,” or tell them “you’d like to give it some thought and get back to them within 24 hours.”

You don’t have the experience/background for this position. How could you handle it?
Say you’re confused by their comment, that you’re quite confident that you DO have the experience and background for this position, and that you’re a very strong match for the responsibilities. Ask what specifically concerns them about your background; what’s missing in your experience? (Sometimes the interviewer is just testing you.) Re-state your qualifications as needed, tying your accomplishment stories to the employer’s requirements.

You’re overqualified for this position, aren’t you? (even if you are slightly overqualified)
State: No – I see a lot of challenges in this opportunity, and I’m sure that I would find the work extremely interesting. Give some examples of what you mean, and talk about the new dimensions of experience and skill that you would bring to the position, almost as though you would expand the level of contribution in this job, thus making it more than it is at present.

We have all the information we need. We’ll be in touch.
Take the initiative. Ask such questions as: “Where do I stand? Am I being considered as a strong candidate? When should I expect to hear from you, or would you prefer that I contact you in a day or two? What is your time-frame for making a final decision? Is there anything else I can provide to facilitate the process?” etc. Then re-state your strong interest in the position and your confidence that your background is an ideal match to the job.
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