Since the 90’s, Doug Parker has led multiple companies to success including RepairMyCreditNOW.com, which has been on Inc. Magazine’s prestigious Inc. 5000 list 3 times. A serial entrepreneur from a young age, he always has multiple irons in the fire. He has been married for over two decades, has two kids in college, and is fully engaged at One Community Church.
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- Outlook – Doug’s small business resource
- See You at the Top – Doug’s recommended book
- Repair My Credit NOW
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3 Key Points:
- Help other people as much as you can.
- Resolve problems fast, and move on.
- Don’t let sunk costs hold you back. Take the leap.
- ZipRecruiter: If you’re ready to start hiring, then ZipRecruiter is where you can find your perfect candidate! Try ZipRecruiter for free today at ziprecruiter.com/fire!
- Allstate: As a veteran, I know how hard it is looking for a career after the military. But what if I told you there was a way to put everything you’d learned from the military to good use in a career where you get to help others? That’s what owning an Allstate agency is all about.
Time Stamped Show Notes
(click the time stamp to jump directly to that point in the episode.)
- [02:20] – Doug makes revenue through Repair My Credit, charging customers for helping them to repair their credit rating
- [03:10] – Pricing structure has taken some tweaks
- [03:29] – “It’s better to explain pricing one time than to have to explain poor quality forever.”
- [04:01] – Worst Entrepreneurial Moment: Receiving a letter from the Federal Trade Commission and being terrified of losing everything
- [05:27] – They went straight through everything with the FTC
- [06:08] – Spent around $1.5 million resolving issues
- [06:27] – Lesson learned: “I would have settled a lot quicker.”
- [07:16] – A settlement was offered – but Doug didn’t think he was doing anything wrong, and wanted to litigate
- [09:32] – Make sure you’re doing the right thing – and make sure you’re keeping good records
- [10:32] – “Start with the end in mind. And resolve issues as quickly as possible.”
- [11:01] – Entrepreneurial AH-HA Moment: Realizing that he could give up his day job and make a living as an entrepreneur
- [13:33] – Don’t let sunk costs hold you back
- [14:36] – Be prepared for the tough times as well as the good ones
- [15:57] – Find a mentor who’s where you want to be
- [16:26] – Biggest weakness? – I don’t want to give up on stuff
- [17:07] – Biggest strength? – I’m as hard a worker as you’ll ever find
- [17:36] – What has Doug most fired up today? “The momentum I’ve got going on my two new projects.”
- [20:15] – The Lightning Round
- What was holding you back from becoming an entrepreneur? – “The comfort of my day-to-day job”
- What’s the best piece of advice you’ve ever received? – “If you help enough people get what they want in life, you’ll always have what you want”
- What’s a personal habit that contributes to your success? – “Getting organized every night for the next day”
- Share an internet resource, like Evernote, with Fire Nation – Outlook
- If you could recommend one book to our listeners, what would it be and why? – See You at the Top
- Imagine you woke up tomorrow morning in a brand new world, identical to earth, but you knew no one. You still have all the experiences and knowledge you currently have – your food and shelter taken care of – but all you have is a laptop and $500. What would you do in the next 7 days? – I’d find the most influential folks I could that I liked, and find how I could serve them. Build relationships and serve others.
- [23:32] – Connect with Doug at Repair My Credit NOW, or on Twitter
- [23:43] – Parting piece of guidance? “No matter what you’ve got going on, look after other people.”
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