[Karen37a]

Karen just stop it already please. I can say with great certainty nobody cares who what or how much you funded real or imaginary

Great....people need to stop with the craziness and either fund or not. There are people who are going to post BIG numbers and thats that.

I have to concentrate to be one of them.

have fun

[jotucker1983]

Great....people need to stop with the craziness and either fund or not. There are people who are going to post BIG numbers and thats that.

I have to concentrate to be one of them.

have fun

Stop caring what "other people" (who are competing against you) are "funding" and just focus on the business plans/objectives that your office has this quarter/year.

[Karen37a]

Stop caring what "other people" (who are competing against you) are "funding" and just focus on the business plans/objectives that your office has this quarter/year.

John,

*****I agree.******

No matter what anyone does, it will not bring sales in to the individual person. Brokers should be at 100k a year without that much effort with renewals.

Sales rooms usually have sales contests to fuel the person forward to win because when you get to a certain point money alone is not the key unless you are greedy.

Non-greedy people have to find something to make them want to reach for the brass ring.

Being # 1 on a sales board is a common Financial Sales motivational tool.....people need to stop turning it into something ugly.

[JHausen]

The bigger issue is Fintech and AI teaming up together and bypassing the industry and selling merchants on low to no fee type of deals. There's still a lot of business to go around but not what is was say 4 years ago

[jotucker1983]

John,

*****I agree.******

No matter what anyone does, it will not bring sales in to the individual person. Brokers should be at 100k a year without that much effort with renewals.

I understand your point is to "motivate" people in the traditional "sales mumbo jumbo" sense. But the reality still stands that the vast majority of brokers in this industry can barely keep the lights on.

And while I know most like to say this is in relation to said brokers not having "superior sales ability", I really don't think "superior sales ability" is the foundation of success in this space. I still believe it's having a unique network/system to get a stream of exclusive (or somewhat exclusive) referrals/leads, and/or getting somewhat exclusive business data that you can filter through to get a much higher conversion rating compared to doing random/generic Yellow Page cold-calls.

But I know you fundamentally disagree with this and believe Yellow Page cold-calls can produce 6 figure incomes if someone just has "superior sales skills". My experience and research just doesn't show this to be true at all in today's Merchant Services/Merchant Cash Advance market.

[Karen37a]

The bigger issue is Fintech and AI teaming up together and bypassing the industry and selling merchants on low to no fee type of deals. There's still a lot of business to go around but not what is was say 4 years ago

I agree.

But I also know that when people venture into a "market" that they are not familiar with they tend to price too low, they don't factor in loss ratios and total business expenses...including future potential litigation, collections etc.

They usually come and go

Unsecured funding vs secured Prime, subprime ..sub subprime. It takes a bit for people to realize( and quantify) the pricing differences and why.

There is a reason the Banks do not lend to small /mid size business and self employed, huge failure rates ( business closings with or without a cash advance or financing) and the inability to raise the rates high enough because of usury laws

Have a Great weekend

[MCNetwork]

The bigger issue is Fintech and AI teaming up together and bypassing the industry and selling merchants on low to no fee type of deals. There's still a lot of business to go around but not what is was say 4 years ago

The reality is that probably 70% of the population of cash advance merchants wouldn't qualify for these low and no fee deals anyway. There's still plenty of business out there.

[Karen37a]

I understand your point is to "motivate" people in the traditional "sales mumbo jumbo" sense. But the reality still stands that the vast majority of brokers in this industry can barely keep the lights on.

And while I know most like to say this is in relation to said brokers not having "superior sales ability", I really don't think "superior sales ability" is the foundation of success in this space. I still believe it's having a unique network/system to get a stream of exclusive (or somewhat exclusive) referrals/leads, and/or getting somewhat exclusive business data that you can filter through to get a much higher conversion rating compared to doing random/generic Yellow Page cold-calls.

But I know you fundamentally disagree with this and believe Yellow Page cold-calls can produce 6 figure incomes if someone just has "superior sales skills". My experience and research just doesn't show this to be true at all in today's Merchant Services/Merchant Cash Advance market.

John

90-95% of people who enter the sales industry...Finance, stockbrokers, insurance mortgages, mca ....quit or get bankrupted.If people want to be the 5-10% they need to be coachable.

#1 Stay Postive and believe you can be one of them

#2 Increase your sales ability ( phone sales)

Since most people enter the industry and want sales to come into them on autopilot and avoid the phone, they will never make it.

If it could be on autopilot the Funders would do it themselves and never have isos or salespeople, there would only be customer service agents only for minimum wage.

True Salespeople understand this and are proud that they are one because most cannot make it ethically.And it's a learned art or science.
Some salespeople are just advanced customer service agents or "order takers"...they need to fix that.

Can most people drop their ego to go thru the rejection and learning curve, be blindly coachable?....nope.

And can they not get greedy and not try to cut your throat for 2-3 % after you trained them?...nope.

That's that.

[JHausen]

Archie,

I agree with you 1000%, Our space and focus has been on the microloan market and some middle market deals. There are very unique programs out ther albiet a little cumbersome. Im simply saying we cant sleep on Fintech. Fundera for example, got 50 million in funding to pour into heavy marketing and they have deals with advances companies sellign the same deals at buy rates and not upselling a penny. They are not direct lenders. They are facilitators like my firm just with 50million....lol

[jotucker1983]

John

90-95% of people who enter the sales industry...Finance, stockbrokers, insurance mortgages, mca ....quit or get bankrupted.If people want to be the 5-10% they need to be coachable.

Okay but how are you "coaching" them? Is your coaching just the typical stuff such as telling them to talk slow, breathe, make 300 calls a day out of the Yellow Pages, memorize a script, and overcome objections?

Or is the coaching based on secondary market research to produce business intelligence on prospective clients, building a network, crafting unique solutions, and crafting unique marketing communications? The former does nothing to help an agent in today's landscape, the latter is the foundation of an agent's success in today's landscape.

#1 Stay Postive and believe you can be one of them

#2 Increase your sales ability ( phone sales)

So you are doing nothing but preaching the same stuff that has nothing to do with anything. You can only "stay positive" for so long following a failing strategy. And in terms of "sales ability", these mumbo jumbo "mind tricks" don't work and have never worked on any merchant.

80% of agents/brokers are failing because they aren't being provided the resources that the 20% of agents/brokers have. Which makes sense because if everybody had the resources, there wouldn't be a top 20%.

Also understand something, "calling merchants on the phone" is not a "strategy". Telephone, email, mail, fax, text messaging.....these are just ways to communicate.

What makes the communication effective, have high conversion ratings, and profitable, is if the communication is being done to the right prospects, who are in the market for said services, and your services have been customized to fulfill their current needs. In order to produce said effective communication, you have to craft strategic plans.

[Karen37a]

Okay but how are you "coaching" them? Is your coaching just the typical stuff such as telling them to talk slow, breathe, make 300 calls a day out of the Yellow Pages, memorize a script, and overcome objections? Or is the coaching based on secondary market research to produce business intelligence on prospective clients, building a network, crafting unique solutions, and crafting unique marketing communications? The former does nothing to help an agent in today's landscape, the latter is the foundation of an agent's success in today's landscape.



So you are doing nothing but preaching the same stuff that has nothing to do with anything. You can only "stay positive" for so long following a failing strategy. And in terms of "sales ability", these mumbo jumbo "mind tricks" don't work and have never worked on any merchant.

80% of agents/brokers are failing because they aren't being provided the resources that the 20% of agents/brokers have. Which makes sense because if everybody had the resources, there wouldn't be a top 20%.

Also understand something, "calling merchants on the phone" is not a "strategy". Telephone, email, mail, fax, text messaging.....these are just ways to communicate. What makes the communicate effective, have high conversion ratings, and profitable, is if the communication is being done to the right prospects, who are in the market for said services, and your services have been customized to fulfill their current needs. In order to produce said effective communication, you have to craft strategic plans.

John,

I can train any broker on how to cold call on the phone and have HIGH results.( if they shaddap and not be disrespectful lunatics)
I had an ex-employer who use to yell at me cause I made 7-30 dials for the week?Funded 5-7 deals for the month and they were YELLING ..you need to make 150 dials.

Taking me into public meetings saying look at her with her 7 dials what was she doing all day

if they never bothered me so much I would have never opened an iso.

So thank them

It's a learned science( or follow a script of someone who places the words in a certain order) and I am not here to teach my competition.

I gave clues saying do not ask yes or no questions on another post.

I'm off

[jotucker1983]

John,

I can train any broker on how to cold call on the phone and have HIGH results.

Cold call who? Random Merchants out of the Yellow Pages?

This is the same "stuff" that the vast majority of "Middle Managers" promote in this industry and the same "training" from these Middle Managers has been going on (in mass) for the last number of years.

If the training worked so well, why are majority of agents/brokers failing and can barely keep the lights on? To say, "those agents/brokers just aren't following the system right" makes absolutely no sense.

Reminds me of the Prosperity Gospel Church Pastors who promise that the "Lord" will "bless you" if you just follow his instructions of putting $1,000 in the bucket when it comes around. You put the $1,000 in the bucket, nothing happens, and the Pastor never says his system is flawed, but instead says you just didn't have enough faith, or you didn't believe right, or (insert other random stuff here).

[Karen37a]

Cold call who? Random Merchants out of the Yellow Pages?

This is the same "stuff" that the vast majority of "Middle Managers" promote in this industry and the same "training" from these Middle Managers has been going on (in mass) for the last number of years.

If the training worked so well, why are majority of agents/brokers failing and can barely keep the lights on? To say, "those agents/brokers just aren't following the system right" makes absolutely no sense.

Reminds me of the Prosperity Gospel Church Pastors who promise that the "Lord" will "bless you" if you just follow his instructions of putting $1,000 in the bucket when it comes around. You put the $1,000 in the bucket, nothing happens, and the Pastor never says his system is flawed, but instead says you just didn't have enough faith, or you didn't believe right, or (insert other random stuff here).

John,

Because each salesperson has different sales ability.

That's like asking " if I read a book on how to play baseball why is everyone not in the major leagues with a 300 batting average"

Is a skill and a learned science.

Everyone cant play the piano like Beethoven or sing like Whitney Houston did.

Once people get a grip on the reality that it is a learned science...art of linguistics they can start making money

The Sentences

Landscape/Aesthetics
1a. It was a mediocre sunset.
1b. The sunset this evening was mediocre.
1c. This evening's sunset was mediocre.
2. The landscape was both beautiful and desolate.
3. The underdog carnation is preferable to the self-congratulatory rose.
4. She surveyed the scenery with disgust. She had no use for quaint.
5. She decided that a nautical metaphor was more appropriate than a lunar metaphor or a botanical metaphor.


Intimacies
6. Her sincerity frightened him and his irony bored her.
7. She enjoys intimacy with strangers.
8. She felt weak whenever their eyes met.
9. I could write a poem that would break your fking heart.
10. Unrequited love can go fk* itself.

[Karen37a]

She decided that a nautical metaphor was more appropriate than a lunar metaphor or a botanical metaphor

You cant talk like that to a construction worker from Bkln

you have to say ...yoooo vinnyy whats up ( jk and sarcasm)

You have to match tones, speed...language.

you cant talk underwriter speak to the mass audiences, if you get an engineer on the phone, have at it.

The pitch has to be mid-grade suitable for everyone, no yes no, close to a conclusion etc.

Send me your script and I can dumb it down with typos for you and send it back

Sales is not blind luck

We are calculated more than you realize. someone was going to get some dumb used car salesperson to challenge me in a cold calling competition? No knowing finance and not being as good as I am on the phone?

It's truly truly insulting. I try to stay grounded and humble... sometimes some people make it hard then that cocky arrogant NOrth shore long island girl pops up " I can slap you with my boyfriend's wallet"

[WestCoastFunding]

It's truly truly insulting. I try to stay grounded and humble...

Oh, Karen.

[Anthony@torro]

Can we just make a thread titled "Karen vs John" so you 2 can have at it on a dedicated thread? Just saying.

[jotucker1983]

John,

Because each salesperson has different sales ability.

That's like asking " if I read a book on how to play baseball why is everyone not in the major leagues with a 300 batting average"

Is a skill and a learned science.

I completely disagree with you on B2B sales of high ticket items being a "science" in that regard. B2B Sales, in my opinion, is strictly about business management, which "could be" considered a science, but not in the science framework that you are referring to which seems to be based more on "magic".

The reason I say that, is that "sales ability" from the traditional mumbo jumbo definition, is usually referring to the ability to PERSUADE someone into buying something that they didn't want or need to buy, through the use of your words, mannerisms, and other characteristics.

A "sale" of high ticket items (such as a cash advance) takes place based on the client's present day need. Your role in this matter is to be a business consultant, which is to properly manage the process of understanding the client's need, understanding their business/sector, tailoring solution packages, working out good pricing, and managing implementation cycles with adequate follow-up support.

At no point in time during this process did you persuade the client into buying your solution if he didn't need it or want it. Now, maybe you helped diagnose a need or business cycle, when the client wasn't fully aware of one? I don't think that means you "sold him", I think that means you did your job consulting him based on having researched his individual business and market, bringing to him "real/true/credible" business information that he wasn't aware of.

[Karen37a]

Can we just make a thread titled "Karen vs John" so you 2 can have at it on a dedicated thread? Just saying.

lol ok money bags

I tried. im not debating anymore...people have to have an open mind. some people will recieve benefit over it

[Anthony@torro]

lol ok money bags

I tried. im not debating anymore...people have to have an open mind. some people will recieve benefit over it

Money bags? I'm broke, don't know what you're talking about. I'm just a humble ISO rep with really cool cars.

[Karen37a]

completely disagree with you on B2B sales of high ticket items being a "science" in that regard. B2B Sales, in my opinion, is strictly about business management, which "could be" considered a science, but not in the science framework that you are referring to which seems to be based more on "magic".

John .

Selling is a science and art of linguistics...semantics...lead to a conclusion

thats it...have fun

[Karen37a]

Money bags? I'm broke, don't know what you're talking about. I'm just a humble ISO rep with really really cool cars.

LOL

Rich Girlfriend

[MCNetwork]

I feel that this business is ten times harder than it was just a few years ago. Good lead sources are very scarce and competition is fierce. I've seen experienced ISOs shut their doors recently and these shops were run by strong salespeople. There are now hundreds (if not thousands) of hungry young reps chasing the same UCC lists and using variations of the same pitch because they were trained by the same veterans. It's not a question of having superior sales ability, but rather does a rep have the will to make 200-300 phone calls per day to find 2 or 3 motivated merchants? Because in the absence of a huge marketing budget, that's what it takes to succeed. Personally, I don't have that kind of stamina or desire. There are easier ways to make money in this world.

In order to separate yourself from the pack of young wolves, you have to be able to add more value than just a high rate cash advance. Find a different product to lead in with that can solve a merchant's pain points. Show a merchant ways that you can make his life a little easier or improve his business. This is how you build rapport and customer loyalty. The successful ISO in today's market offers more products than just a cash advance. If you're a one trick pony, then your income will be limited and you won't distinguish yourself from a thousand other ISOs. Adapt to the new competitive landscape or die. Read "Blue Ocean Strategy" and find uncharted territory and stake your claim.

[WestCoastFunding]

In order to separate yourself from the pack of young wolves, you have to be able to add more value than just a high rate cash advance. Find a different product to lead in with that can solve a merchant's pain points. Show a merchant ways that you can make his life a little easier or improve his business. This is how you build rapport and customer loyalty. The successful ISO in today's market offers more products than just a cash advance. If you're a one trick pony, then your income will be limited and you won't distinguish yourself from a thousand other ISOs. Adapt to the new competitive landscape or die.

This.

[Karen37a]

I feel that this business is ten times harder than it was just a few years ago. Good lead sources are very scarce and competition is fierce. I've seen experienced ISOs shut their doors recently and these shops were run by strong salespeople. There are now hundreds (if not thousands) of hungry young reps chasing the same UCC lists and using variations of the same pitch because they were trained by the same veterans. It's not a question of having superior sales ability, but rather does a rep have the will to make 200-300 phone calls per day to find 2 or 3 motivated merchants? Because in the absence of a huge marketing budget, that's what it takes to succeed. Personally, I don't have that kind of stamina or desire. There are easier ways to make money in this world.

In order to separate yourself from the pack of young wolves, you have to be able to add more value than just a high rate cash advance. Find a different product to lead in with that can solve a merchant's pain points. Show a merchant ways that you can make his life a little easier or improve his business. This is how you build rapport and customer loyalty. The successful ISO in today's market offers more products than just a cash advance. If you're a one trick pony, then your income will be limited and you won't distinguish yourself from a thousand other ISOs. Adapt to the new competitive landscape or die. Read "Blue Ocean Strategy" and find uncharted territory and stake your claim.

I can bet you that I can call 70 dials thru 100 a day from UCCs and fund 1 milllion in 1 month personally.

They are not using the same script

its MY script.

Picked apart from my life experiences

[The Chosen One]

I'm convinced that karen is a troll.