[GIGATT50]

We are 45 days in and have funded one deal but seemed to have hit a wall. That first taste was great but we want more now. Much more. Making mad daily calls targeting Phoenix market. Is this our mistake? Huge smb market here but seems conservative for MCA product. Any ideas from the room?

Some people make a grand entrance into cash advance. Please watch this video to see where you are going wrong..


Pretend like I am Sharon, West coast is Louie and I won't tell you who is Simon.


https://www.youtube.com/watch?v=oeQ0kHZ9svM


Heres another one for you


https://www.youtube.com/watch?v=rrNbLBS1D2Q

smh

Please stop...I do not like laughing at people...it makes me feel guilty dirty or bad lol


There are many isos or mentors/ trainers.. funders willing to help people if they are coachable

[Kevin Henry-Seacoast]

We are 45 days in and have funded one deal but seemed to have hit a wall. That first taste was great but we want more now. Much more. Making mad daily calls targeting Phoenix market. Is this our mistake? Huge smb market here but seems conservative for MCA product. Any ideas from the room?

Drill down into a few industries you know well and go after them.

[Karen37a]

Drill down into a few industries you know well and go after them.

This is good advice ( Kevin seems to be on point lately)

Having to hang out in the trenches with the sales people makes you see a different vantage point, that is something that college or an MBA can never learn in school or from a book.

Now Kevin with his stockbroker knowledge, loans, advances, factoring, marketing, sales, underwriting recruiting ( in the trenches as the bombs went off) etc...is going to be hard to beat
__

Also who is Kingsley is correct
__

John...MY, a paper is not YOUR a paper...this is why sometimes I say (a plus) to make the distinction...those have rates of 6%-13% 3-5 years. All this drama and I found a funding /lending source in Calif in that range. I have to decide if I want to go into the state with the extra threat of lawsuits and litigation

__

Kevin, I do syndicate ( i made a rule at first to never go in more than 25%-50% on a deal so I do not get cocky bet the farm and implode myself) ...so "technically" I could have run around all over town saying " I am a Direct Lender/Funder"...and I didn't syndicate a lot . I am unable to handle the deal flow if I really wanted to open the floodgates. ( so I focus on retention and renewals)

Underwriting is a tricky thing. Id rather take Vito the pizza guy with great pizza ., loyal following, no tax returns and bad credit then the guy with the 750 scores and the food in his restaurant sucks.

That is something that black box automated algorithm underwriting can never factor in...there are more human factors that I look at as well


** Everyone who survived the initial blast down...learned a lot. Those people as well are hard to beat...automated algorithms vs a live sales force. Let's make a bet and I get to choose teams...I can pick 10 people from the df . 1 million bet ( each person wins 1 million). It would be a slaughter

[Kevin Henry-Seacoast]

This is good advice ( Kevin seems to be on point lately)

Having to hang out in the trenches with the sales people makes you see a different vantage point, that is something that college or an MBA can never learn in school or from a book.

Now Kevin with his stockbroker knowledge, loans, advances, factoring, marketing, sales, underwriting recruiting ( in the trenches as the bombs went off) etc...is going to be hard to beat
__

Also who is Kingsley is correct
__

John...MY, a paper is not YOUR a paper...this is why sometimes I say (a plus) to make the distinction...those have rates of 6%-13% 3-5 years. All this drama and I found a funding /lending source in Calif in that range. I have to decide if I want to go into the state with the extra threat of lawsuits and litigation

__

Kevin, I do syndicate ( i made a rule at first to never go in more than 25%-50% on a deal so I do not get cocky bet the farm and implode myself) ...so "technically" I could have run around all over town saying " I am a Direct Lender/Funder"...and I didn't syndicate a lot . I am unable to handle the deal flow if I really wanted to open the floodgates. ( so I focus on retention and renewals)

Underwriting is a tricky thing. Id rather take Vito the pizza guy with great pizza ., loyal following, no tax returns and bad credit then the guy with the 750 scores and the food in his restaurant sucks.

That is something that black box automated algorithm underwriting can never factor in...there are more human factors that I look at as well


** Everyone who survived the initial blast down...learned a lot. Those people as well are hard to beat...automated algorithms vs a live sales force. Let's make a bet and I get to choose teams...I can pick 10 people from the df . 1 million bet ( each person wins 1 million). It would be a slaughter

Karen-Thanks, but one correction. I was never a stockbroker. I have spent my entire career on the institutional side of the business. Not knocking stockbrokers, but there is a mindset difference between stockbroker-retail and institutions.

[Karen37a]

Karen-Thanks, but one correction. I was never a stockbroker. I have spent my entire career on the institutional side of the business. Not knocking stockbrokers, but there is a mindset difference between stockbroker-retail and institutions.

I just label everyone "stockbroker" it's easier to say than "institutional trader" or "principal Venture Capital" " osj compliance" etc

[WhoisKingsley]

We are 45 days in and have funded one deal but seemed to have hit a wall. That first taste was great but we want more now. Much more. Making mad daily calls targeting Phoenix market. Is this our mistake? Huge smb market here but seems conservative for MCA product. Any ideas from the room?

You can start by making your logo a bit smaller. I want to joke around but serious...

Many of the newer sales/brokers may have the gift of gab on the phones but everything else lacks the "official" look and feel of a real deal Company. ESPECIALLY online. An email goes out with a link or an application? So many of the website/landing pages are out of control and the applications are no different. The authorizations on applications are even worse on some. You are running the foundation of your business without the essentials. It's a lot more than signing up with a bunch of companies and dialing until you can't speak.

What would a "Merchant" do? Who is also a human being - as a human being we are cautious and first look for what is "out of place" or "incorrect" which makes them either proceed or delete.

[WestCoastFunding]

You can start by making your logo a bit smaller. I want to joke around but serious...

Many of the newer sales/brokers may have the gift of gab on the phones but everything else lacks the "official" look and feel of a real deal Company. ESPECIALLY online. An email goes out with a link or an application? So many of the website/landing pages are out of control and the applications are no different. The authorizations on applications are even worse on some. You are running the foundation of your business without the essentials. It's a lot more than signing up with a bunch of companies and dialing until you can't speak.

What would a "Merchant" do? Who is also a human being - as a human being we are cautious and first look for what is "out of place" or "incorrect" which makes them either proceed or delete.

This.

Put yourself in a business owner’s shoes. Person calls me saying they handle business financing, the very first thing I’m going to do is Google said company. I Google “Gigatt Business solutions” and the initial online footprint that I see in Google results look solid. So far, so good. Next step, I click on website link. First impression on mobile is that the initial view looks sort of broken, and page is mostly black. Black pages are cool if your selling web hosting, but not finance. Additionally, when I scroll to bottom is says your using a Godaddy website builder.

My suggestion, if you know HTML, but a premium theme and use something more appealing and scalable. Or, spend $500 - $5,000 and have a developer do it.

[GIGATT50]

Great points and thanks.