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 Dear Signing Agents,
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jbelmont
California
3106 Posts |
 Posted - 08/15/2012 : 2:45:19 PM
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The formula
We base our prices on a very complicated formula which evolves over time. People complain when we raise their prices. The irony is that many complain if we lower their price, because THEN, they think that they were charged too much the previous year.
Do you know how to assess?
It seems that people like to make petty complaints, but how many people understand how to valuate their listing? You are business people, and business people must know how to asses the value of assets, otherwise you won't be in business for long.
The 2% rule
My personal opinion is that your listing is worth 2% to 7% of the total volume of business you got from jobs that derived from leads you got from 123notary. If you found a client on 123notary, and they gave you repeat business, totalling $5000 over the course of several years, then that is very significant, and you should be willing to "fork over" a good percentage to us to enhance your advertising presence.
On the other hand if you got zero jobs as a result of your listing with 123notary.com, rather than complaining about the price, you should be willing to give us at least 2% of Zero which is zero, and you should give it without a fight.
Tracking sales
Many people do not track their sales, and where their sales come from. Tracking initial sources of new clients will give you a rough percentage of where your jobs are coming from. Not all clients will tell you where they found you which is why you need to ASK and keep a JOURNAL of where people found you.
Petty arguments
The petty arguments about how last year I paid $150, and this year the price is $300 (happens to a few of our clients) doesn't wash. 123notary is getting DOUBLE the visitation that we got two years ago. So, shouldn't you be paying double? Most people are paying the same price they did two years ago, yet most Notaries are getting roughly double the jobs they used to from our site, and the site as a whole is generating far more actual work. The bottom line is that if you got $30,000 of business from your $300 investment, then there is really nothing to complain about other than WHY your advertising price is UNDERPRICED which is often the case.
Saving money
The other issue is that the majority of notaries do not save (enough of) their money. They overspend on their homes, and then get into financial trouble and often lose their homes. Perhaps they overspend on their car instead of getting the most efficient car, and then they are left penniless when it comes to investing in advertising. Without an advertising budget, most of us wouldn't have any type of business at all -- unless you are very seasoned and have a very loyal following which is only true of about 3% of mobile notaries across the nation.
My advice
Live simply, save for retirement, save for investing in building your business, and invest in education. In the mobile notary business you need multiple certifications, (I got five when I was a notary), a mobile office makes sense and is expensive, a dual tray printer that prints really fast, advertising, etc. You need to save your money, so you can use it as a tool, to better your career. If you are broke and can't pay your renewal, you have very little chance to do well in this business. |
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What is your listing worth?
