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May 9, 2017

When do you cut clients?

Filed under: Best Practices — admin @ 7:35 am

Most Notaries either want to get more clients, or don’t want to bother with marketing because they have “enough” clients. Some Notaries have too much work and don’t have time to sleep. All three scenarios are classic cases of mismanagement. Being a Mobile Notary is like having a hotel. Hotels have rooms, you have hours. Both are in limited supply and you never know what type of last minute requests will come in.

Discounts for early booking.
If you have a pricing formula (few Notaries have formulas, but all should) you might consider charging less for people who book in advance and don’t cancel. That way you can plan your day effectively. Waiting for last minute calls is hectic and unpredictable which means you would make less average money in a 24 hour period.

When to cut clients?
If you don’t have enough clients, you are stuck with whomever hires you. If you don’t have enough experience, reviews, or didn’t pass the critical certification exams that people want you to, you won’t get as much business. It is your fault if your business is slow due to your own deficiencies, so do something about it. Cutting clients comes when you are at 80-100% of capacity. A Notary or hotel cannot book at over 100% capacity. If you work 60 hours a week, then your 100% is having all 60 hours booked (and having your notary conference hour/room booked.)

Who to cut?
Instead of refusing service to particular companies, it usually makes more sense to raise their rate. That way you make it worth your while to put up with their nonsense. Companies that are:

1. Inconsiderate — jack their rate up 10%
2. Pay Late — make them pay in advance with paypal (weeds many out)
3. Cancel more than 20% — jack up their rate 20% or have them paypal a non-refundable deposit for part of the costs.
4. Have really long packages — jack up their rate 10%; Long won’t kill you as much as the other problems.
5. Didn’t explain the loan to the borrower enough — jack up 25% (results in long phone calls while you twiddle your thumbs.)
6. Don’t pay enough — jack up according to your formula
7. Fax Backs — charge based on time and resources spent.

Ideally, to have a happy mobile notary service, you need to develop a large enough clientele that you can pick and choose. That way you can get rid of the annoying clients and still have enough left over. Most business these days is low-ball. However, experienced Notaries have been telling me that they have more than enough business paying a reasonable amount.

To have your cake and eat it too, having high paying, easy to work with companies, you need to be the best. So, I encourage you to pay your dues, get more experience, get reviews, certifications, have an amazing notes section, and you will do better. The most important bottom line is that advertising is the seed of business. Once you have developed loyal clients over the years, you will rely less on advertising and more on connections. It takes time and quality work to develop connections who rely on you. So, be patient and keep giving this business your all.

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