Interview with Laura Abshire, Credit Repair Specialist

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School

Ivy Tech Community College, Indianapolis *

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Course

201

Subject

Business

Date

Feb 20, 2024

Type

docx

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2

Uploaded by cesiaeves

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Interview with Laura Abshire, Credit Repair Specialist Introduction: I had the privilege of interviewing Laura Abshire, a credit repair specialist and the founder of Credit Dusters. Laura is passionate about assisting clients and referral partners throughout the credit repair process. Credit Dusters is a membership exclusive service dedicated to helping clients repair their credit. I chose laura because she is my mother in law, i've watched her business grow over the last few years and am impressed by her willpower and the fact that shes built this business from the ground up. Shes a hard worker and an inspiration to me. 1. What type of business structure (i.e. corporation, sole proprietorship, limited liability company, franchise, partnership, etc.) does your current company have? Why was this particular structure chosen? What are the advantages and disadvantages of this business structure? a. Llc b. Chosen for personal liability reasons like protections from lawsuits and debts c. Include advantages and disadvantages 2. What property rights including copyrights, patents, or trademarks does your company have? How do these create a competitive advantage in your industry? a. As a service-oriented business, Credit Dusters does not possess traditional intellectual property rights such as copyrights, patents, or trademarks. However, the proprietary credit repair system developed by Laura Abshire and implemented by the company's employees can be considered intellectual property. This systematic approach, tested and refined through client engagements, serves as a competitive advantage in the industry. By effectively leveraging this system, Credit Dusters distinguishes itself from competitors and delivers tangible results to clients seeking credit repair services. 3. As a business that employs individuals, how do you ensure that you are complying with state and federal employment laws? What are some challenges you've encountered in this arena? a. Laura is the owner of operations, her mother, rhonda, is the vice president of operations. Laura spends most of her time setting and helping clients reach their credit goals though multiple means. She wears a lot of hats. Rhonda does more of the behind the scenes financial and membership work, making sure the finances are in place. Emily, her daughter, pulls credit reports and marketing. Allison, her virtual assistant, does backend administrative support like answering emails and setting appointments and such. b. She contracts her employees so she has not had much trouble. c. The only challenges seem to be with communication, everyone works remotely in different states.
4. Why did you choose the specific field of business you are in? What other fields have you worked in? a. Laura recognized the need for credit improvement services as many clients of her ex husband, who was a mortgage broker, were being denied financing due to poor credit. She began studying the credit industry and developed a systematic approach to help clients improve their credit scores efficiently. b. Before credit dusters laura did professional medical transcription for 5 years. This skill comes in handy, laura can type like the wind! 5. What should I do to help prepare me to succeed in the workforce when I graduate? a. Step out of my comfort zone but trust my instincts, know when to stop while you're ahead. Quitting isnt always a bad thing. You have to know your boundaries and when you are not being treated fairly. b. 6. Who has been the most influential person in your career and why? a. Her ex husband matt, he introduced her to entrpreneurism and the power of recurring income. With the typical sales model, you make one sale, and move along to the next new client. With recurring income, you obtain multiple sales from one client through memberships and maintaining client relationships. 7. What should I look for in a professional mentor? a. Laura says prioritize finding someone with extensive experience and expertise in your field, who you feel comfortable communicating with and who is accessible and committed to your growth. Look for a mentor with a strong network who upholds ethical standards and shares your values. b. A successful mentor-mentee relationship relies on mutual respect, trust, and a shared commitment to your professional development. c. Someone who has same business values d. Experienced both failure and success in the field you're pursuing e. I will apply this to my future career as a paralegal in the criminal law field by * insert 1 paragraph response following into a 1 paragraph conclusion*
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