Singing Pig

Craig is the man to go to if you want to be successful in this business. I started this business three months ago and it has been wonderful all thanks to craig. His mentorship package is very good, he is honest and reliable man.  Ola

How have your results been since starting? Did you take the slow and steady approach or build it quickly?

Neil

Am taking the very sloooooooooooow and steady approach. I have few customers and i am still learning. This business is not for everybody and you need to be sure you can handle the customers before you jump into it. Take  your eyes off the £1000 per week profit(its possible) but don't start this business because of that and the good news is  there are so many other acitvities you can do with the license.

I am not looking to make profit so soon, i have six months to know if this business is for me or not, i intend to do this for years and i am ready to wait for the profits. I started with 10K but i didn't put all at once and i am  recycling all money i collected and so no defaulter at the moment. This business is a number game, the more customer you get the more your profit and headache.  DO NOT LEAVE YOUR DAY JOB TO DO THIS BUSINESS...IT IS TOO RISKY.

Ola,

 Does that mean that you wont ever run this business full time?  Are you saying its not a good long term approach?

sarny:

Does that mean that you wont ever run this business full time?  Are you saying its not a good long term approach?

I think what he is saying is not to give up your day job and expect to run this from the start and be making profits from day one sufficient to live on. Anyone doing this, and giving up their day job, needs to have sufficient capital to live on for at least a year as well as capital to invest.

It is a very profitable business - once it is established with a good bedrock of regular customers. The trick in the early days is to weed out the bad customers without being stung too much financially.

sarny:

Ola,

 Does that mean that you wont ever run this business full time?  Are you saying its not a good long term approach?

My goal is to run it full time but i am saying you can't live on this business from the start. It is a very good long term approach but it is advisable to have a part-time job at least for a year before you go full time on it. You need to re invest all the profit made within one year but if you have hundreds of thousand to put in then you will fine.

Ola,

I come at it from a different angle, most of the things I do involve others working for me so they would have to be out in the field. I appreciate I won't make as much money but for me it will be another string to my bow of money making options. As Craig explained to me, if you lend more than recommend the bad debts can grow quite quickly, but if you are able to " start them low and build them slow" then in the long run it will be profitable. I think I could go with that theory but would be happy to build a bigger customer base from the start and then build those ones slowly, rather than starting with a small customer base and build it slowly. As I am not looking to leave my job from this business, for me it is putting some money in and aiming to get a return, very similar to everything else I do really. Some work and make you money, others lose you money. It's about finding a few good ones along the way.

Neil

Lending decision is very important in this business. You don't want to put all your money out there and find it difficult to get them back even if your pot is very big. Your approach "bigger base from the start" might not be a bad idea depending on your goal for the business. I don't have a lot of money to start with, so my lending is tight and slow.  I took this approach because i know every penny i lent out might not come back and going to court can only show you mean business but may not get your money back. I am not worry about making wrong lending decision because i know i will get defaulters as i grow my customer base but i want to be sure  i learn from any bad lending.  My small base at the moment can absorb any defaulter i may have instead of having a large defaulter base compare to low good customers  and this i think u might get if you have a bigger base from the start.