[Karen37a]

you dont have to pay 36k per year, you can put them on a draw or have a floating base that changes with commission paid when you start. You need to find a way to get your new hires to a point where their commission alone can support them. Also a small base and a slightly lower base allows sales guys to

I agree

Or he can walk into your office and pay you rent or take a % discount on the commission sales for your contacts or infastructure


Rounded edge scissors in the office

Reckoooo

[ajequitymatt]

I know a company that pays their sales reps 30k base and 12.5% of the commission. Average sales rep funds 1 million a month with some funding 3 million+. It's hard not to fund 500k+ with them (they have great leads, awesome environment, and happy sales reps). Because of the salary and benefits provided, the owners get 87.5% of the commission. 87.5% of 15 million+ a month in funding seems like a good decision to me....

[Karen37a]

I know a company that pays their sales reps 30k base and 12.5% of the commission. Average sales rep funds 1 million a month with some funding 3 million+. It's hard not to fund 500k+ with them (they have great leads, awesome environment, and happy sales reps). Because of the salary and benefits provided, the owners get 87.5% of the commission. 87.5% of 15 million+ a month in funding seems like a good decision to me....

And it will be great when people get to that level...

95% wont make it ...1% to the top


( please do not kid yourself with all the fall out of brokers getting jobs all around us....not me ....1099)

and like I said from the start...he can have 1099 and a draw...people are arguing what I said from the start

** I have an ulterior motive...not having mca implode and being engulphed by companies like pp and bankers..I am on the hedge funds side.....gl luck, sink or swim

[ajequitymatt]

And it will be great when people get to that level...

95% wont make it ...1% to the top


( please do not kid yourself with all the fall out of brokers getting jobs all around us....not me ....1099)

and like I said from the start...he can have 1099 and a draw...people are arguing what I said from the start

** I have an ulterior motive...not having mca implode and being engulphed by companies like pp and bankers..I am on the hedge funds side.....gl luck, sink or swim

I think 1099 works for the experienced brokers who want more commission but your business strategy doesn't make much sense to me otherwise. This would be like opening up a restaurant and paying everyone at the end of the day contingent on how much money the restaurant made that day. If you want to do something, anything, you go full force. If the business fails then it is what it is but you definitely can't half-ass something hoping to make some money here and there at a minimal expense to the business owner.

[Karen37a]

I think 1099 works for the experienced brokers who want more commission but your business strategy doesn't make much sense to me otherwise. This would be like opening up a restaurant and paying everyone at the end of the day contingent on how much money the restaurant made that day. If you want to do something, anything, you go full force. If the business fails then it is what it is but you definitely can't half-ass something hoping to make some money here and there at a minimal expense to the business owner.

You are not getting the point...like others are not

The guy asking the questions is the 1099...you are telling some 1099 newbie to go pay salaries


This is where I say

get with a local iso and mentor and make your bones...hit the phone

im out

[JasonBishop]

@Karen, you smell an ounce of blood in the water and you try to rip it to shreds! Different opinions and different experiences are great! It makes the world creative. Many businesses are unique and have their own methodology. You opine that they have no shot because its not done your way or under your advice. It sounds like you have a world of experience and that is terrific. Many (if not all) successful people make mistakes and poor decisions along the way. This is how they learn what is best for them! I believe that you alone deter many people from even asking questions, seeking out advice, and providing feedback on this forum because you will go on a rampage. Relax a little.

[WestCoastFunding]

Karen, I'm going to need you to behave yourself.

[Karen37a]

@Karen, you smell an ounce of blood in the water and you try to rip it to shreds! Different opinions and different experiences are great! It makes the world creative. Many businesses are unique and have their own methodology. You opine that they have no shot because its not done your way or under your advice. It sounds like you have a world of experience and that is terrific. Many (if not all) successful people make mistakes and poor decisions along the way. This is how they learn what is best for them! I believe that you alone deter many people from even asking questions, seeking out advice, and providing feedback on this forum because you will go on a rampage. Relax a little.

I agree.

it would be best if people stopped thinking they can just hire other people to make sales for them, with no money or experience. Putting 1099 and sales people down...people can work in a bank if they want or go inside and get a salary, if they will hire you.

This will never turn around ...ever ...unless people do

I will be back in a month and see who is left...gl


ps . if i didnt know people were giving bad advice on purpose to snag deals it might not bother me so much

[Brightpoint]

@Karen, I never asked about 1099/W2. You led this post to an entirely different topic as you frequently did on other posts.

[Brightpoint]

Well read! Thx

[J.Celifarco]

Well read! Thx

I dont even remember what the original question was

[Kevin Henry-Seacoast]

I dont even remember what the original question was

I think Brightpoint was looking for directions to the Fort (F-Troop Reference). Corporal Argon told him on the way there make a right at the rock that looks like a bear. I think it went pretty sideways from there. If you get lost on the way back....make a left at the bear that looks like a rock.

[Karen37a]

As an ISO shop (not funder), what funding volume (per month) would be considered as an excellent team of 10 members? avg volume per member?

To be bit more precise, the team that consists of:
1 - VP of Sales (team lead)
1 - Manager level
8 - AE / Sales

And, what monthly funding volume for AE (w/ base salary of $36k) should be promoted to the next level position such as Sr. AE (with higher salary)?

Can anyone share your own thoughts?

Here are your numbers

the VP of Sales wants a commission. If its a Salary they wank 500k
Manager wants a commission. Salary 100k
AE 36k
Sr AE 50k

Funding volume AE wil fund 3-5 sales
Sr 4-7
Manager will watch them...unless commission bonus ...10

Vp brings in new brokers/compliance

To get 10 good brokers you are going to have to hire 200-500 and train them, numbers vary based on the manager and vps sales abilty

You need a prosessing staff ...3 and an underwriter as well

[socalgav]

Before you go 1099 I would check with the state and see what makes a 1099... Laws from state to state will vary greatly. I know I got a 70K lesson on 1099 rules in the State of CA.

[Karen37a]

Calif made a new rule on 1099...and mca/loans

[Karen37a]

Since you are hung up on these salaries....35k plus 3 points. thru 5

And the brokers will hustle your book of business out the back door take your 35k and get 7-10 points from the basement of their house.

You need an experienced salesperson to step in...period the end

make your bones

End of thread

[J.Celifarco]

is it really the end this time or are you just going to come back saying the same thing over and over unable to accept that there is more than one way to do things? Nobody is saying 1099 doesn't work we are just saying that is one of many possible models to use when structuring a MCA business. Why is this so hard for you to accept?

[patrickw]

I run a 8 man shop. 3 chasing for documents 5 for leads. will the world accept me?

[Karen37a]

is it really the end this time or are you just going to come back saying the same thing over and over unable to accept that there is more than one way to do things? Nobody is saying 1099 doesn't work we are just saying that is one of many possible models to use when structuring a MCA business. Why is this so hard for you to accept?

I am pointing out that the 1099 Misfits ...were not the ones taking the salary and shimming out the back door

the w/2s were

How is that so hard for people to accept?

[J.Celifarco]

who said anything about misfits? I honestly have no idea what you are talking about. Why do you think you are always under attack? Until you started spouting off craziness nobody said a bad word about you or 1099 employees. All I said is that I think W2 is the way to go and I am allowed to have an oppinion

[RickyR3712]

Here are your numbers

the VP of Sales wants a commission. If its a Salary they wank 500k
Manager wants a commission. Salary 100k
AE 36k
Sr AE 50k

Funding volume AE wil fund 3-5 sales
Sr 4-7
Manager will watch them...unless commission bonus ...10

Vp brings in new brokers/compliance

To get 10 good brokers you are going to have to hire 200-500 and train them, numbers vary based on the manager and vps sales abilty

You need a prosessing staff ...3 and an underwriter as well

You are used to 1099 . When it comes to paying salary you can get way better quality from the start . You can set them to do exactly like you want it done and the hours you want as opposed to having 1099 doing what the hell they want when they want.
If i was not an inbound iso shop i would go 1099 however if you do spend a ton on marketing you will be crazy to give a commission instead of salary with bonuses.

[Karen37a]

who said anything about misfits? I honestly have no idea what you are talking about. Why do you think you are always under attack? Until you started spouting off craziness nobody said a bad word about you or 1099 employees. All I said is that I think W2 is the way to go and I am allowed to have an oppinion

Archie said it not you...and its been the theme of some on the DF for years now

painting 1099 mca in a bad light ...enough.. it's not true

people cant make sales and then they say these crazy things. People watch these boards

Anyone can setup shop however they want. Mca isnt evil and neither are phone sales people or 1099..

[RickyR3712]

As an ISO shop (not funder), what funding volume (per month) would be considered as an excellent team of 10 members? avg volume per member?

To be bit more precise, the team that consists of:
1 - VP of Sales (team lead)
1 - Manager level
8 - AE / Sales

And, what monthly funding volume for AE (w/ base salary of $36k) should be promoted to the next level position such as Sr. AE (with higher salary)?

Can anyone share your own thoughts?

You need to figure out what is the minimum your rep needs to do for you not to lose money that if they do not hit that you fire them , next threshold is what you expect and they stay where they are , a couple of months in a row they exceed your expectations than you start raising the salary to make sure you hold on to them .
I also recommend that you have 9 handle new deals only and take the tenth as a renewal rep.

[RickyR3712]

Archie said it not you...and its been the theme of some on the DF for years now

painting 1099 mca in a bad light ...enough.. it's not true

people cant make sales and then they say these crazy things. People watch these boards

Anyone can setup shop however they want. Mca isnt evil and neither are phone sales people or 1099..

so basically john is not entitled to an opinion is what you are saying ?

[Karen37a]

You need to figure out what is the minimum your rep needs to do for you not to lose money that if they do not hit that you fire them , next threshold is what you expect and they stay where they are , a couple of months in a row they exceed your expectations than you start raising the salary to make sure you hold on to them .
I also recommend that you have 9 handle new deals only and take the tenth as a renewal rep.

shocked...i think Ricky is running a shop lol