[jotucker1983]

- John, you are absolutely correct. There is no skill required to sell this product, we are all just glorified consultants and order takers handling the paperwork our merchants.

I actually did not say that, however, I agree about the topic being beaten to death.

[mcaguru]

ohhhhhhhhh boyyyyyyyyyyyyyyyyy

[Karen37a]

Between Karen constantly telling everyone how great of a sales person she is and John explaining to everyone why sales skills have nothing to do with with selling this product, I have a migraine! I mean how do you people even have the time to constantly post some much nonsense on here?!

Years ago when I started in this industry, the forum was actually quite helpful. Now it has gotten to the point that one freaking day can't go by without you two bickering back and forth. I think for everyone's sanity, every member of this forum will agree that:

- Karen you are the greatest sales person to walk this earth, we are all in awe of your skills!

- John, you are absolutely correct. There is no skill required to sell this product, we are all just glorified consultants and order takers handling the paperwork our merchants.

Now can we move on with life????????

No I am not but at least I try to help people lol

And I can recognize when a company that makes 5 million 50 miillion a month is better than me

And I do not make excuses for failure

[Karen37a]

ohhhhhhhhh boyyyyyyyyyyyyyyyyy

Marcus is the greatest, he has the fastest stips


plugging him because he missed the cue


( and I am joking before people start emailing me /calling me about Marcus)

[MidnightAdvance]

Greetings all, I'm new to MCA funding (3 months) and hopeful I can benefit from the experience of the fine folks on this board!

For now I'm prospecting healthcare professionals (doctors, dentists, etc) in Florida attempting to develop relationships with local clients. I've been looking at UCC lists (targeted to the market I want) since the metadata lists I already have are ice cold; it's too time intensive to call general numbers hoping to find MCA compatible prospects.

Does anyone have experience with either UCC lists or lead generation software? Grateful for any guidance y'all can offer!

Midnight would love to fund your healthcare deals.

[Kevin Henry-Seacoast]

Greetings all, I'm new to MCA funding (3 months) and hopeful I can benefit from the experience of the fine folks on this board!

For now I'm prospecting healthcare professionals (doctors, dentists, etc) in Florida attempting to develop relationships with local clients. I've been looking at UCC lists (targeted to the market I want) since the metadata lists I already have are ice cold; it's too time intensive to call general numbers hoping to find MCA compatible prospects.

Does anyone have experience with either UCC lists or lead generation software? Grateful for any guidance y'all can offer!

Hi CapAxess,

Welcome to the forum! I like that you are picking an industry to go after rather than being a jack of all trades. Having knowledge of an industry is important when speaking with prospects about their companies. Having an understanding of their business and needs will give you the tools to provide a financial solution that makes sense for the owner rather than just selling money.

I do a fair amount of industry focused cold calling and find LinkedIn can be a useful tool if used correctly. I have also found that attending industry focused networking events and trade shows can be worth the time and money as you might get a chance to meet prospects face to face. You live in a state that has many convention centers that constantly have trade shows on a weekly basis.

You may also consider researching bankers, accountants, and attorneys that specialize in healthcare as they can be a great source of referrals.

I personally do not use UCC lists or buy marketing leads, but I am not in the MCA space. We are factors and asset based lenders. Most of our prospects come to us from outbound industry specific cold calling and marketing and from referral sources that know we have deep industry knowledge in certain industries. You may want to educate yourself on other capital markets product you can offer the prospect besides just MCA: SBA Loans, equipment loans/leasing, Bank products, and other non-bank products.

Best of luck!

Kevin

[Karen37a]

Or

Doctors and Dentists are very hard to reach

you have to call them in the Am before they get their practice going or you will hear "he is with a patient" " the dr cant be distrubed"
" Do you realize he is a Dr?" he is a surgeon, he CANT set an appointment, he is a very important man...he is a dentist....all day

( merchant calls ar tough too...one dr told a paper Funder/lender he doesn't have time for such silly questions...hung up on him, got denieed then begged me to go back and get the underwriting to change their mind).

So call them between 8-9...get drs from across the country so you can dial as the time zone changes and you can dial up to 12:00.

Go to lunch ..or eat at your desk ( lunch is for wimps) then dial the extended offer or better sic codes...before you leave call the drs again. Shoot out an email on the 3rd day of calling them.

Ps I got the underwriter to change his mind then the dr stood him up for the merchant call lol


Do not just focus on drs /dentists...you will quit inside of 60 days

[Kevin Henry-Seacoast]

Hi CapAxess,

Welcome to the forum! I like that you are picking an industry to go after rather than being a jack of all trades. Having knowledge of an industry is important when speaking with prospects about their companies. Having an understanding of their business and needs will give you the tools to provide a financial solution that makes sense for the owner rather than just selling money.

I do a fair amount of industry focused cold calling and find LinkedIn can be a useful tool if used correctly. I have also found that attending industry focused networking events and trade shows can be worth the time and money as you might get a chance to meet prospects face to face. You live in a state that has many convention centers that constantly have trade shows on a weekly basis.

You may also consider researching bankers, accountants, and attorneys that specialize in healthcare as they can be a great source of referrals.

I personally do not use UCC lists or buy marketing leads, but I am not in the MCA space. We are factors and asset based lenders. Most of our prospects come to us from outbound industry specific cold calling and marketing and from referral sources that know we have deep industry knowledge in certain industries. You may want to educate yourself on other capital markets product you can offer the prospect besides just MCA: SBA Loans, equipment loans/leasing, Bank products, and other non-bank products.

Best of luck!

Kevin

Another thought with dealing with Doctors. Get to know the nurses in their offices or nurses that work with them on a regular basis at clinics an hospital. Operating Room and ER Nurses are sometimes the best way into getting to know the surgeon. There are a bunch of nurse networking and professional groups around.

I am attending a large trade show this month that is all about operating room nursing. We are active lenders to temp staffing companies and love IT an Nurse Temp staffing a bunch. The trade show I am attending will likely have over 5,000 attendees.

[Karen37a]

Another thought with dealing with Doctors. Get to know the nurses in their offices or nurses that work with them on a regular basis at clinics an hospital. Operating Room and ER Nurses are sometimes the best way into getting to know the surgeon. There are a bunch of nurse networking and professional groups around.

I am attending a large trade show this month that is all about operating room nursing. We are active lenders to temp staffing companies and love IT an Nurse Temp staffing a bunch. The trade show I am attending will likely have over 5,000 attendees.

Face to Face is great....good to mix it up so you do not lose your sanity on the phone .

[Karen37a]

op

Watch out if you go to downtown st Pete Hilton...some of the area is kinda ghetto

if you make it there head to feather sound country clubs ...hilton. I am next door.

pop on by my office and say hi

off for a few days vacation everyone have fun!

[patrickw]

This is my 6th month running in MCA Industry. So far 37 deals funded.

[Karen37a]

Also when you call "drs" the minute you address him as "Dr"

Example Dr Bob DoeDr Bob...Dr Doe, Dr

You lost the sale ( they will not see you as a competent advisor) they already put themselves on a pedestal...you have to bring them down to eye level.

** Some Nurses have a Dr. Fetish. they have dreams of being "Mrs. Dr. Something" with a big house, 2 kids, and a big fat engagement ring. ( or they wish they could marry a Dr)

Or they are Nurse Rachet

The Drs do not put much stock into some of them unless they are the Nurse/ wife Nurse/ mistress Nurse /bookkeeper -accountant

So when you meet these nurses, find out who handles the books so you do not waste time befriending Nurse Rachet

or save a trip with a phone call " who is in charge of the business "accounting" and making the financial decisons"

[capaxess]

My advice would be to find an offline mentor or even in this case (even though I hate it in general but in some cases it could "make sense") to start out as a co-broker while you learn the industry. You could co-broker in this case for someone who also is functioning as a mentor, to give you the industry overview along with help build a budget to begin generating in-house leads.

Word of caution, cold calling out of the Yellow Pages for anything in relation to Merchant Services (MCA, Merchant Accounts, etc.) is a bad strategy. You will make more money working at Burger King than following that strategy.

Great advice John, I agree that cold calling general numbers for MCA is inefficient. I would love to work closely with someone who could mentor me as I grope to find the right fit for me in this industry. For now I'm trying a strategy that I think will work based on my experience as an investment banker and my skill set; time will tell.

[Karen37a]

Great advice John, I agree that cold calling general numbers for MCA is inefficient. I would love to work closely with someone who could mentor me as I grope to find the right fit for me in this industry. For now I'm trying a strategy that I think will work based on my experience as an investment banker and my skill set; time will tell.

You are uninvited to my office lol


I am very serious about not being friends with people who are hanging around negative people

I am sure you will survive...

What you just repeated is the wrong advice

Gl to you

[capaxess]

Another thought with dealing with Doctors. Get to know the nurses in their offices or nurses that work with them on a regular basis at clinics an hospital. Operating Room and ER Nurses are sometimes the best way into getting to know the surgeon. There are a bunch of nurse networking and professional groups around.

I am attending a large trade show this month that is all about operating room nursing. We are active lenders to temp staffing companies and love IT an Nurse Temp staffing a bunch. The trade show I am attending will likely have over 5,000 attendees.

Excellent point Kevin! I mean it! I just started conversations with some nurse practitioners and discovered how eager they are to get involved. Great idea to access the DR. market through these gatekeepers.

[Karen37a]

Excellent point Kevin! I mean it! I just started conversations with some nurse practitioners and discovered how eager they are to get involved. Great idea to access the DR. market through these gatekeepers.

Nurse practitioners would never get "involved" in cash advances.

In fact people do not like that their staff or anyone including their priest know that they took out a cash advance and they have bad credit.

ok im off . Have fun'

Dont head towards seminole and st peteh...or the country club there, its wasting time. My aunt is there real estate agent and they have a memorial golf tourantment for my uncle who died 10 years ago. he had more charisma than I do. lol

They also donate big money to the hospitals

[WestCoastFunding]

My suggestion is to lead in with a different product that will create value for the Doctor's practice and solve an existing pain point.

Please take this advice. Work hard at learning about other products. Try to find the clients global solutions. Treat MCAs as just another tool in the kit. Focus on providing healthiest solutions first, then work your way down. This builds credibility with the client, and makes the sale of a MCA that much easier should it come to that. 90% of brokers do MCAs, and MCAs only. Merchants recognize this. Being capable of offering more affordable options will set you apart.

[Karen37a]

Please take this advice. Work hard at learning about other products. Try to find the clients global solutions. Treat MCAs as just another tool in the kit. Focus on providing healthiest solutions first, then work your way down. This builds credibility with the client, and makes the sale of a MCA that much easier should it come to that. 90% of brokers do MCAs, and MCAs only. Merchants recognize this. Being capable of offering more affordable options will set you apart.

I agree with this read the top 100 list ...I hate to keep bring up that I was a Master General Agent for Aig and trained teams and teams of loan officers and insurance agents to be sucessful either thru the phone or face to face.And an investment banker and stockbroker , sales trainer ...30 years

5% will be coachable and make it

mcn gives great advice so does westcoast ( which is the reason you see me talking with them all the time...you are who your friends are, or who you associate with) I know they know what they are doing in regards to sales and marketing


http://dailyfunder.com/showthread.ph...Face-marketing

[Kevin Henry-Seacoast]

Excellent point Kevin! I mean it! I just started conversations with some nurse practitioners and discovered how eager they are to get involved. Great idea to access the DR. market through these gatekeepers.

Don't suitcase! If you are in the groups networking and somebody asks what you do... Humbly reply that you are a finance professional that focuses on healthcare. No mention of products or services until you understand who you audience is....

[Karen37a]

mcn - westcoast - karen

I get 40 million and drag them to florida to build a nationwide business lol

processing/sales trainer/closer...seo/sales trainer /closer... me yelling standing on a desk closing, having sales contests where you win a plastic trophy and people are killing each other over it.

A guy in my office makes homemade pickles ( he thinks they are the best on the planet). I have been indulging this fantasy and saying ooh yeahhh these are the best

I beat him in sales ...whoever gets the most sales gets to put this stupid plastic trophy on the deks for the month

Last week he had a fit, meltdown...ran over to my desk and grabbed the trophy placed it on his desks and yelled

"NO MORE PICKLES FOR YOU"

Sales can be fun or like pickle boy...go out in a hailstorm

[Karen37a]

Don't suitcase! If you are in the groups networking and somebody asks what you do... Humbly reply that you are a finance professional that focuses on healthcare. No mention of products or services until you understand who you audience is....

OR you say

"I help people achive their business goals with alternative financing options when the bank has turned them down"


Then they will say " how do you do that"


GOT UM...reel them in

Sales linguistics


** do not throw up on them when they ask "how"

pullllll do not push...get with a top sales person they can help you with smoothing out the lines

The cross roads for all sales people is when they have to lower their ego to be coached. The day you realize sales in not blind luck.

[Chambo]

What huge learning curve? We're not selling space ships. You can get a seasoned salesman from Best Buy to close cash advances within 48 hours with some basic training.

at the rate they are closing stores? Those Best Buy employees will be looking for work

[fundingsmbs]

a good salesmen can adapt to any product or service. there is virtually no training anymore in this industry from direct funders outside a guideline sheet so it may be best working for an ISO who will teach you the product or a direct funder who is hiring direct sales reps. also, getting inbound leads and closing is a lot different than outside sales hunting and closing your own deals. if your new, I would suggest inside sales for awhile until you learn in inside/out.

[Karen37a]

a good salesmen can adapt to any product or service. there is virtually no training anymore in this industry from direct funders outside a guideline sheet so it may be best working for an ISO who will teach you the product or a direct funder who is hiring direct sales reps. also, getting inbound leads and closing is a lot different than outside sales hunting and closing your own deals. if your new, I would suggest inside sales for awhile until you learn in inside/out.

Exactly

Or give up all your applications then head back to best buy...saying ( glengarry glenross)

I use to be a salesman...its a tough racket

https://www.youtube.com/watch?v=emSV5DicTVw

[AMERICApital1]

Karen so what is it you actually do? You are always writing novels on here on every other post daily. Do you ever put your stellar sales skills to work or do you just type about them on a forum. I do not see how anybody in this industry would have enough time to post as much as you do, if they were actually getting things done.