[Anthony@torro]

As many who post here know, it is perfectly okay when Yellowstone steals deals from their partners, but apparently not when they get a taste of their own medicine from within...When you encourage a culture of stealing deals, it will become 2nd nature. There are 5-6 times (that I know of )this past year that YS stole deals from my firm (3 of them were directly from me). And when I say "STOLE" I do me it literally. This wasn't a case of them calling a Merchant after we failed to sell a deal or didn't send back contracts; these were all deals either sold then declined or, declined for some BS reason only to have someone from YS call the Merchant within 24 hours (this is what happened the most often). I have always tried to stay away from YS unless I had no other option, but I won't even use them as a last ditch effort/hail mary for a high risk deal anymore....scumbags.

Easy killer. Stop working with ****ty reps and you'll have a very different opinion of Yellowstone and what we can actually do here. If I call one of my iso's merchants its with their permission and they get paid a full commission when I close it for them.

[MidnightAdvance]

Anthony you don't need this kind of negative energy..

[Karen37a]

27 years old and giving advice to everyone who makes more money than him

I love this business

[JSL23]

Easy killer. Stop working with ****ty reps and you'll have a very different opinion of Yellowstone and what we can actually do here. If I call one of my iso's merchants its with their permission and they get paid a full commission when I close it for them.

I've heard of you Anthony (good things) but that's like saying "next time you come to eat at my restaurant make sure you sit in my section. You will get top shelf service." (and meaning it); the only problem is that about half the waiters spit in the under cooked food they serve to a large percentage of their unsuspecting patrons...I believe you are honest and know how to get things done, but I'm still dealing with a chop shop...

[Anthony@torro]

It's not me trying to get his Hail Mary deals, I'm not interested in that in the slightest bit. Others probably share this same view having worked with bad reps in the past so I was hoping to open some people's eyes and make them realize that having the right rep working their files will completely change their opinion of Yellowstone or any other funding company.

[Anthony@torro]

I've heard of you Anthony (good things) but that's like saying "next time you come to eat at my restaurant make sure you sit in my section. You will get top shelf service." (and meaning it); the only problem is that about half the waiters spit in the under cooked food they serve to a large percentage of their unsuspecting patrons...I believe you are honest and know how to get things done, but I'm still dealing with a chop shop...

Good analogy, I understand what you're saying. Only difference is that I would be the only one you're dealing with here from original submission to funding so no one else can really intervene or hinder the process. I'd make sure it all went smooth. Feel free to call me anytime and maybe we can make something happen.

[fundingsmbs]

the issue is no matter who the rep is, they all represent ysc as a company. it should not be well, you worked with a bad rep and depending on who you work with this type of issues wont happen. everyone represents the brand. so if you have bad reps and folks stealing, it hurts the co and brand overall. top down, it needs to be fixed so everyone is a "good rep"

[Lmonus]

It's not me trying to get his Hail Mary deals, I'm not interested in that in the slightest bit. Others probably share this same view having worked with bad reps in the past so I was hoping to open some people's eyes and make them realize that having the right rep working their files will completely change their opinion of Yellowstone or any other funding company.

100% Accurate - Negative acts happen in alot of companies in the space. So finding a rep who has your pipeline on Lock is very beneficial. Weather it is getting paid full commission on a renewal or having the rep syndicate $$ to get the funded amount increase.

Anthony one of the top dogs at YSC - hes a good friend of mine. You are in the best hands possible working with him. Dont let a bad rep put a sour taste in your mouth.

[Anthony@torro]

the issue is no matter who the rep is, they all represent ysc as a company. it should not be well, you worked with a bad rep and depending on who you work with this type of issues wont happen. everyone represents the brand. so if you have bad reps and folks stealing, it hurts the co and brand overall. top down, it needs to be fixed so everyone is a "good rep"

There is a lot of different factors that come into play though. His problem and others problems are that people steal from them. So you take someone like me who makes $xxxxxxxxxxxxxxxxxxxxxx and someone who makes $xxx, the issue of your deal getting stolen becomes highly unlikely. Just saying. Irregardless of income though, no one should ever steal from their iso, period.

[Karen37a]

Anthony is good guy. I had early renewals and they never went after them...never stacked me

1st position yellowstone deals..non stacked ( had to thats where the client/merchant fit) and i took them away when the merchant's situation changed( without drama...1 hour payoff letters)...they became B paper 12 months

ill bb later

And I will be sending new deals in...sigh

[RickyR3712]

Great . Let me know when you fund a deal

We did 2.7 mil last month

i got a bounus from one funder bigger than 3 months of your pay.

Im tired of you...I am not "Karen" the little basement 2 deal women you thought I was

If you did that from cold calling and had no over head that is pretty good . You know i have a different model that you swear will fail . I am complete inbound with reps on salary only and do between 5-9 million a month.Let me know when you get big enough that you are not scared to give someone a 6 figure salary.

[Karen37a]

If you did that from cold calling and had no over head that is pretty good . You know i have a different model that you swear will fail . I am complete inbound with reps on salary only and do between 5-9 million a month.Let me know when you get big enough that you are not scared to give someone a 6 figure salary.

They dont want a salary ...they get 7 points and half of underwriting some of them, some 5 points...and I have 10 isos under me...commission only


I am a born and bred commision only sales person who leads from the front...thats that

Commission only top reps believe salaries and hourly wage are for pikers and punks

[JSL23]

Anthony you don't need this kind of negative energy..

How is that genius? If you are going to try a clever analogy, at least use one that makes sense. Am I blaming foreign entities(other lenders) or using identity politics(bringing race into it) as an excuse for blowing it??

I wasn't going to mention it, but what caught my eye about this thread was the same thing, more or less, happened to a close associate of mine. We sent his deal to Midnight and while he was trying to pitch a $65,000 1.45 5 month term someone else from Midnight offered $70,000 (and eventually raised it to $75,000) for 1.39 on a 6 month term...I don't even think you guys waited a full day...

Luckily for you he is not the type who wants to make a big issue out of something like this, we just aren't sending anything to you except the very bottom of the barrel...for his sake I am glad it happened sooner rather than later...

[fundingsmbs]

salaries retain people better than straight commission and historically you have tighter controls when you have w2s. if you pay someone zero to work for you, the chances of them being loyal is very minimal which can lead to other issues such as theft.

[Karen37a]

salaries retain people better than straight commission and historically you have tighter controls when you have w2s. if you pay someone zero to work for you, the chances of them being loyal is very minimal which can lead to other issues such as theft.

its easier to control w/2 people....you can only lead 1099 because they respect you..and the ones who dont usually dont because they cant makes sales and make excuses.

[Karen37a]

Salaries vs w2 vs commision

it's VERY hard to have 100 ...1099 nutjobs...let alone the 500 i used to have

I dont recommended it for most...you will never get to that level and if you did you may not like it...its like a children's zoo, live daily funder

[Karen37a]

salaries retain people better than straight commission and historically you have tighter controls when you have w2s. if you pay someone zero to work for you, the chances of them being loyal is very minimal which can lead to other issues such as theft.

one last point

if the broker was fired or did something crazy... The Iso is going to be on the phone in competition with them. ( they try to take the deal to a new place and the isos try to keep it)

And it happened a few times...and I kept the renewals and then texed them my pay

A Serious battle over a book of business just happened last week... I tried to be nice and play middle "man" and I got stung. Everyone knows about it because almost everyone had their hands on the book. I wound up with the sales...not worth the drama though .

Ultimately the merchant chooses who they go with...and that's where the sales expertise comes in.

it's stupid for someone to try to be unloyal to their/ some isos. The strong isos wind up with the book of business after it spills out onto the Df or the strong inside broker

Add* and i am not talking abut k...thats something else

[Kevin Henry-Seacoast]

salaries retain people better than straight commission and historically you have tighter controls when you have w2s. if you pay someone zero to work for you, the chances of them being loyal is very minimal which can lead to other issues such as theft.

In close to 30 years I have done salary + bonus, commission only, draw + commission, and salary, commission/ bonus, and stock options. I like the later of the group and have always made more money with this model. I have also managed professionals in groups as small as 5 and as large as 450. The last model seemed to be easier to manage then the others and employees were most productive.

[Karen37a]

In close to 30 years I have done salary + bonus, commission only, draw + commission, and salary, commission/ bonus, and stock options. I like the later of the group and have always made more money with this model. I have also managed professionals in groups as small as 5 and as large as 450. The last model seemed to be easier to manage then the others and employees were most productive.

Its almost impossible for a new isos( independent not working for someone with deep pockets) to take on those costs

Monthly Rent 2-3k-7k? Salaries 50k operating expenses? 30k leads 20k

Thats 100k nut to crack to break even with out defaults and this is why they steal...they cant make the numbers

Funders couldnt make the number and some still cant. Period the end.

[Karen37a]

And if you work for someone with deep pockets you have about 3 rounds of funding before they cut you off ..if that


Just picture the big hedge fund looking at your iso/ funding business as a huge no collateral merchant cash advance ( with no revenues)

nsf nsf defaults
funded renewal new funder default or denied

See you all later

[AMERICApital1]

smh just got on here to sign up with midnight too...

[fundingsmbs]

your co workers or employees are an investment into your company. if you don't invest in them, you will never grow your company. the revolving door for straight commission only has been played out in multiple sales industries with usually the same result. the same can be said for hiring the wrong people on salary and burning payroll, but, if you take a historical analysis of which one leads to more productive employees and revenues, I would have to think an incentive to take care of your employees (salaries, draws, stock, bonus') will always outpace 100% commission. Its ok if the ISO wants to earn a lot more on straight commissions, but, the sub reps or employees may not be in your situation to take that on and ultimately will lead to poor performance, theft of deals, and, always looking for greener pastures. like anything in life, a healthy balance must be met. if you do not value those who bring you the business, they in turn will not value you or your co.

[Karen37a]

your co workers or employees are an investment into your company. if you don't invest in them, you will never grow your company. the revolving door for straight commission only has been played out in multiple sales industries with usually the same result. the same can be said for hiring the wrong people on salary and burning payroll, but, if you take a historical analysis of which one leads to more productive employees and revenues, I would have to think an incentive to take care of your employees (salaries, draws, stock, bonus') will always outpace 100% commission. Its ok if the ISO wants to earn a lot more on straight commissions, but, the sub reps or employees may not be in your situation to take that on and ultimately will lead to poor performance, theft of deals, and, always looking for greener pastures. like anything in life, a healthy balance must be met. if you do not value those who bring you the business, they in turn will not value you or your co.

Do you do merchant cash advances or are you just thinking of doing them?

In theory what you say sounds good ...i have found it to be impossible in the early stages of growth...never seen it done ever, in finance ( on the onset) maybe after a few years and stability...in the begining...nope .. unless you have a huge investor behind you and very experienced financial sales people/underwriting/compliance in place...who have" made their bones" in the industry

[Karen37a]

Now here is the ah ha moment.

Why would someone like me who can make 1 million in a year take a job for 50k or even 100k and have to listen to someone telling me what to do?

When the brokers get great at what they do they will leave you, create their own ( stock brokerage firms, mortgage companies, insurance , real estate or merchant cash advance) ...unless you have something to keep them attached to you...and it isnt $$

And if you recruit 10000 people how can you replace yourself? you cant ...because someone like you or better wouldn't be walking into a small company for a job unless they got a dui and were forced to. Or they want the saftey of a paycheck because they cant really close 10 sales in a month like they are bragging.

**So in my opinion Commission only rock stars are the best, and i have those people in my organization, no excuses balls to the wall put the sales on the board and do the whomp there it is dance...and again this is my opinion

( now there are very few exceptions to this)

Leadership is the only thing that keeps top brokers in your organization, not money $$$...that's that. Respect and Great leadership abiliity.( and some top sales people do not respect hourly workers) hense the front office vs the backoffice fights


See you all tomorrow

[fromano590]

this thread gave me the clap