You’ve got to have time management skills to start a business – it’s a service-based business, so make efficient use of your priorities and time.
Your needs when starting a PI business:
- Right attitude
- Initiative – stop wishing and start acting
- Commitment
- Sacrifice
- Passion
- Integrity
- Consistency
- Prioritization
- Spiritual Strength – don’t bring negativity in
- Perseverance – you are in charge of achieving your goals
MEDIA
Get on morning TV by writing a good book or article and call the local station. Then do a show and tell and show off gadgets. Then build the relationship.
Run ads in:
- local newspapers
- Business journals
- College newspapers
- Military base papers
- Free papers
- Insurance claim publications
- Bar journals
- Medical journals
- Transportation journals
- Conferences Trade Shows and Events – Booth Displays
Re-examine the logo and brand every 5-7 years.
FINDING YOUR NICHE
Be known for one specialized type of service. That can be offered to many different clients.
Write articles and books on the subject to show your expertise. And speak on the topic.
If you need to grow, change it up with the tides. That’s how business is done.
THE POWER OF THE WRITTEN WORD
- Write a book and deliver it free to companies with whom you want to do business.
- Write an E-book and send it to clients
- Use the book Authority as keys
- Get a good book cover from 99 designs and then vote on it
- PI newsletter and war stories/Email Newsletter
- Brochure
ASSOCIATIONS
Make sure to attend and get involved in local, statewide, nationwide, and international trade associations. It’s with it to stay on top of the industry as well as network with other PIs.
Join the local Chamber of Commerce as well.
SPEAKING
Be informative, interesting, and entertaining. Don’t just go pitch your company.
- School District Community Education
- Summer School Programs
- Rotary Club
- Kiwanis Club
- Chamber of Commerce
- Colleges and Universities
Make sure you dress with a suit and tie to these events. Be the person people want to be around – a successful person.
Cold Call Scripts:
“Mr. _____ thank you for taking my call. I will be brief because I know we are all busy. My name once again is ____ and I am the owner of _____. I’ve been conducting investigations for more than __ years and I somehow have managed to not become acquainted with your company. I would really appreciate the opportunity to meet you and some of your staff and I thought I may be able to drop off some breakfast tomorrow or take us some of you to lunch. Can I set an appointment please?”
“Mr. ____, I was referred to you by another of my clients who thought that since I’ve done such a great job for them, I might be able to assist you and your company as well. I own _____ we have a reputation for delivering quality investigations at a fair price. I know that the investigative industry has been her own worst enemy in the past, but I can assure you that we are a professional company that has been in business for more than three years. Being in business for that long in any business speaks volumes in itself. I’d like the opportunity to meet you and your staff in person to explain exactly why we have done so well and how we can help you. Do you have a few minutes in the near future?”
“Mr. ____, my name is _____ and I have some special talents that I’m sure you’ll agree could be of benefit to you and your staff. I have developed an area of expertise in _______ types of investigations. I know that you only the same types of cases in one therefore suggest we spend a little time a person so I can demonstrate how we can be in an asset to you.”
INTEGRITY AND RECORDS
Any information received is an unverified source until collaboration and verification is made. Just because it comes from a database that does not mean it is verified which means you’ll have to go straight to the horse’s mouth in order to verify that info.
When you do pre-employment background investigations, make sure you follow the consumer reporting agency (CRA an FCRA) standards. You need a signed release before you can run any information as well as credit reports, and if the agency doesn’t hire the person, you need to provide an adverse action notice.
MARKETING
- website
- Golf
- Sports tickets
- Xmas Gifts: hand deliver and give business cards
- Calendars
- Pens
- Notepads
- Baseball Hats
RUNNING A SUCCESSFUL BUSINESS
Get an office to look professional, rather than working from home.
Only hire new PIs that haven’t been in the business. It allows you to instill in them the principles in mind that you want. Cross-train them on only one or two types of investigations, so they need you. Have them sign NDA. Also make sure that your investigators are not talking to your clients, or they won’t need you.
RESIDUAL/PASSIVE INCOME
- PI Education courses
- Equipment sales
- Alarm monitoring
- CCTV Systems
- Drug screening
- Pre-employment Screening
- Security Consulting
- Missing heirs/judgment
- Bug sweeping
- Undercover operations
- Executive protection
- Mystery shopping
WRITING A BUSINESS PLAN
It may be a good idea to do this to crystallize what your business goals will be and where you want to go. Not to mention, if you need investors, this is what you’ll need to write to obtain capital.
If you want to be the number one PI in the nation, you’ll have to be big in your region.
