[Brightpoint]

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?

[Don Dolla]

Fire all employees and go all 1099 commission only

[MCNetwork]

Depends on how much you spend on marketing each month. If your salespeople are just calling UCC's, then $100-150K per month for each rep would be awesome. This is because UCC data is cheap. If you're spending tens of thousands per month on marketing, then your guys better be funding a heck of a lot more.

Since you're able to afford a base of $36k, I assume you're spending quite a bit on marketing. In that case, each rep should be doing more than $200K to cover your expenses and your profit split should be heavily weighted towards the firm to offset the salaries. Your 10 man team should be doing more than 2 million per month, otherwise your firm will quickly go broke.

[Karen37a]

1099 only or you won't make it


draw vs commision or 2-3 points more commission only


Your expenses overhead will be 50k-60k monthly with salaries and operations

80/20 rule applies...top 20% do most of the work

10 people will collapse into 2-3 to stay alive then they say "I am a direct funder"

[Brightpoint]

Depends on how much you spend on marketing each month. If your salespeople are just calling UCC's, then $100-150K per month for each rep would be awesome. This is because UCC data is cheap. If you're spending tens of thousands per month on marketing, then your guys better be funding a heck of a lot more.

Since you're able to afford a base of $36k, I assume you're spending quite a bit on marketing. In that case, each rep should be doing more than $200K to cover your expenses and your profit split should be heavily weighted towards the firm to offset the salaries. Your 10 man team should be doing more than 2 million per month, otherwise your firm will quickly go broke.

Well read and thx for your logical opinion. From your other postings and responses in DF, I can feel of your experience and knowledge in both mgmt and sales.

[Brightpoint]

1099 only or you won't make it


draw vs commision or 2-3 points more commission only


Your expenses overhead will be 50k-60k monthly with salaries and operations

80/20 rule applies...top 20% do most of the work

10 people will collapse into 2-3 to stay alive then they say "I am a direct funder"

30% agreed 70% disagreed... especially for someone like me who really hates a high turnover.. would invest little more on salary than losing a superstar.. there are more superstars who r desperate in having certain base $

[MCNetwork]

Agreed. The old adage "you get what you pay for" applies to MCA salespeople. The top sales teams pay salaries and have the best.talent. The misfits and underachievers tend to be 1099 workers IMHO. You do occasionally find great 1099 workers but they don't stick around long. Superstars deserve salaries.

[Karen37a]

Agreed. The old adage "you get what you pay for" applies to MCA salespeople. The top sales teams pay salaries and have the best.talent. The misfits and underachievers tend to be 1099 workers IMHO. You do occasionally find great 1099 workers but they don't stick around long. Superstars deserve salaries.

Archie...YOU are 1099 LOOOL the op is 1099.. I am 1099, we are all 1099 ( except the prosessors, some funders reps and back office and low level telemarketers....some Funders made it past 1099, some do own their own business...commission only fuels the entire operation for some)....you have to sort thru the pile like looking for good files..

95% of people are not going to make it in sales....1099 or not. Top salespeople would rather take the__ % commission than an hourly wage LOOL

I love when I give people the right answer and people cant see it until its too late

Please post the location to your new office...buy black ergonomic chairs and success is not an accident picture...when you fold I will buy them pennies on the dollar and take over space from your new landlord...you put in 3 months rent to get out of the lease


** for 20 years I opened offices nationwide...recruit train new brokers and took over experienced offices... I can promise you the answer I gave to you is right

( this is why its hard to train people and not worth it...toss them in the mix see who floats to the top...keep the book of business when the losers quit....which is why I do not know why anyone is stealing )



Here is the real problem...Why would someone who is quality 1099 join anyone's team if they could do it themselves( random dui woman wanders by, forced by the state)...they won't unless you have something for them other than a paycheck and thats where leadership ability comes into play..and character and integrity...and thats why so many say " i am a direct funder" when they are not...no other way for them to go

Or they get money from someone and then they do not turn a profit( use it for operations ....have defaults ) ...like musical chairs ...it will implode


Great 1099 Teams are like secret weapons...no salary...balls to the wall commission only

[Karen37a]

Perfect example...look at a stiff ceo...and some lunatic running all over the boards daying dui....on the face of it...they look preppy educated and the right choice to pick for your team...then look at a nut like Karen....didnt seem like the logical choice.


Exact opposite.... And anyone who has been in sales before knows what the commission looks like

1 sale of 100k = $$...why is anyone begging for a handout of they are so good in sales.... they are not good in sales, that's why. Or lack self discipline to stay on the phone, create a marketing strategy or just plain ole follow up skills.

People Might be able to get some money or a draw to get over the 90-day pipeline...after that ...hit the bricks skippy

( this is a ruthless business...someone looking for a handout won't make it...have compassion and send them somewhere else or do like the isos did in my area...send them into the envading isos from other states who came here so they go bankrupt and go home)


Anyone going into other states.. do what I did...choose to .burn the boats like the Cortez so their is no retreat and only victory


1099 Burn the Boats...Hunt Kill Eat Repeat...karen training # 10181918191



A 1099 salesperson is something to be proud of ...not vice versa..

[JasonBishop]

I love when I give people the right answer and people cant see it until its too late [/I]

@Karen37a...

Many employees stay @ a job for more than a Paycheck. People want to feel like they are a "part of something." Especially a part of something stable and consistent. They seek recognition from leadership which is good for morale which will increase productivity. This is why some organizations opt to offer a considerable base salary + commission in order to attract and retain the top talent. This is nothing to do with people not being great sales reps. Also, in an organization where it is a commission only structure, the sales reps commissions can be at the mercy of the company's reputation, marketing strategies, brand, lead source, executive decisions, etc and become disgruntled if/when things slow down. There is nothing wrong with taking care of your troops and investing in them. In fact this way you can avoid employee churn and client attrition, etc. I say if your #'s allow you to pull off a Base +, go for it @Brightpoint.

[Karen37a]

@Karen37a...

Many employees stay @ a job for more than a Paycheck. People want to feel like they are a "part of something." Especially a part of something stable and consistent. They seek recognition from leadership which is good for morale which will increase productivity. This is why some organizations opt to offer a considerable base salary + commission in order to attract and retain the top talent. This is nothing to do with people not being great sales reps. Also, in an organization where it is a commission only structure, the sales reps commissions can be at the mercy of the company's reputation, marketing strategies, brand, lead source, executive decisions, etc and become disgruntled if/when things slow down. There is nothing wrong with taking care of your troops and investing in them. In fact this way you can avoid employee churn and client attrition, etc. I say if your #'s allow you to pull off a Base +, go for it @Brightpoint.

Some do the same as 1099...they are not "lower class" which is what I am objecting to

And think I know who brightpoint is...he wont make it that way

unless you have a good budget to start you wont make it

Some millionaire set up shop down the road from me( big payroll and the money for it)...told them not to come that close to me

They are gone...million in the hole, I have their book of business and 2 ex-employees...so have at it

New people have to use sweat equity...not big payrolls...dont listen...ergonomic chairs

add *actually 5 came and went ..rolling eyes...lol

[Karen37a]

The reason why I care is it makes this business look bad. It makes it look like no one can make it...and that no one should invest when its far from the truth.

There is BIG money to be made...BIG Commission BIG profits.

People who want to invest should..find experienced people...If someone can bankroll an office ...( get an experienced/successful ex Iso.. to come in )

If anyone posts positive things they are attacked...people posts the big sales they made ...attacked...monthly numbers ...attacked

its almost like some are doing it on purpose ...which is why I have carpal tunnel from typing

Big Hedge Funds are looking to bring their money...so this is the right time and the right place for a lot of people...

I said my peace( people are my competition)...everyone scramble...sink or swim

[MCNetwork]

Archie...YOU are 1099 LOOOL the op is 1099.. I am 1099, we are all 1099

Karen, I'm a 1099 worker because I own my firm. When I was a salesperson working for direct funders, I had a salary, benefits, 401K, etc.

[Karen37a]

Karen, I'm a 1099 worker because I own my firm. When I was a salesperson working for direct funders, I had a salary, benefits, 401K, etc.

Great.

Primerica has 300,000 1099 licenced brokers,,, go argue with Art Williams... I have brainwashed myself

Just Do it Speech

https://www.youtube.com/watch?v=G05QtiHP1lI

[MCNetwork]

^^And 299,000 of them barely make a living...

[Karen37a]

And 299,000 of them barely make a living...

And some are rich

Sorry to let you know if you are an employee ...the owner is rich,.,.you are a cog in the wheel. J O B ...just over broke... J U B ...just under broke

I gave seminars for 20 years

I am the wrong person to talk about 1099...ive been one my whole life...anyone who wants to make money without a boss...call me


Ps. I can see the cluster fk of employee- mentality people who hate my guts because they hate 1099...I am never going to stop going over the top...5-10% will pull over the top with me...( for the fourth time in life)


And this board is supposed to be for what? So Sales people can turn into 1099 bring sales into Funders or isos depending on their skill level? talk about the industry? Negative or positive?...people who need a job to keep yapping about how you cant make money and Karen had a dui.

[Karen37a]

And Archie...just to let you know

Some people only want to make 10k part-time as a referral agent

Some people think 50k is a lot of money...some think 100k...some 1million. You have to raise peoples expectations. But who am I to FORCE someone to want to make 100k ( you have to work, prospecting , following up and most wont do it..not cant..wont)

you cant...trust me, I've tried my whole life...so you get people and if they want to make 30k or 10k or 100k ...as long as I m not paying you..have at it.

What do you think referral agents are to the Big Boys? Or Seo ..or links to funders. How many of those people are making real money? So you should just drop your referral programs?

1099 people are mostly live referrals and they want to be that way...some just show up for the rah rah rah meeting and turn in 2 sales a year and go home.

Get 1000 of those and you are rich. Some of us are direct competition and people picked up on it. I am going into Full on Balls to the wall crush mode starting now. ( so I won't be around that much i) So should you..you hate phone calls that's why you won't do it.

Stop putting 1099 down

bye

[MCNetwork]

There's nothing wrong with being a 1099 worker. But given the choice as a new salesman, I'd rather be at a well capitalized shop that has a big marketing budget, provides lead flow and is willing to pay salaries than be at a 1099 chop shop whose marketing is comprised of cold calling UCC lists all day long. Some people may thrive in that model but for me, it's slow torture. Different strokes for different folks!

[Karen37a]

There's nothing wrong with being a 1099 worker. But given the choice as a new salesman, I'd rather be at a well capitalized shop that has a big marketing budget, provides lead flow and is willing to pay salaries than be at a 1099 chop shop whose marketing is comprised of cold calling UCC lists all day long. For me, that's slow torture. Different strokes for different folks!

I agree...thats why you increase your phone sales ability so you close more..so you can prospect for 1-2 hours(90-day pipeline) ...and we have renewals and residual income ( you are beling clipped off the front...capute attention 30 seconds send them down the rabbit hole)

Where are the renewals? I dont care anymore ...

anyway ...gl with the osmosis client campagin...like fish they just jump in the boat


I do not want anyone gettting more pissed at me ...but if you just count in those 2 sales that I posted gave to yellowstone anthony and that other I was fighting over the 70k renew 4 times..= 100k

gl

[Karen37a]

30% agreed 70% disagreed... especially for someone like me who really hates a high turnover.. would invest little more on salary than losing a superstar.. there are more superstars who r desperate in having certain base $

You cant get a superstar...for 36k

I made that in a day 1099 ( this is how 1099 brokers/isos are forced away from companies that are employee mentality and put right into the hands of 1099 friendly ..big money ones)

makes sales yourself first...maybe get 3-5 people max...keep the office expenses under 3k-5k...3k leads ...invest back into your business with your profits and expand from there ...or do it again and again, untill you pull into profit mode...if you go out in a body bag you will not bankrtupt yourself.

gl....1099 is still the way to go

[J.Celifarco]

I have to disagree. I was a closer for almost 10 years before I opened my own shop. Over 10 years and 3 companies I was never 1099. There are many different models and ways to go about structuring your firm, to say only 1099 works is crazy. All can work depending on how they run and what kind of marketing is used to create the sales

[Karen37a]

I have to disagree. I was a closer for almost 10 years before I opened my own shop. Over 10 years and 3 companies I was never 1099. There are many different models and ways to go about structuring your firm, to say only 1099 works is crazy. All can work depending on how they run and what kind of marketing is used to create the sales

I am not going to keep debating.

its almost impossible to scale on salaries as an New Iso or New Funder which is why they backdoor.

I had 500 people in my organizations in the past...all 1099

When someone does it ...let me know

Companies went UNDER in Florida ...the 1099 gal is still standing...someone just imploded ...SEC all over them...they are not making enough profit....period.

The money is going to HUGE overhead...no another way to conquer it.

When you have the huge overhead the salespeople wind up getting 1 % 2% commission

That is the division between 1099 and w2...Bankers vs Hedge Funds... Front office back office and sales force

People just want a salary so bad they wish all this was possible...just put the numbers down on paper

How many sales do you have to make to crack a 50k -100k nut monthy? And where the hell are you getting the money from? MY commission? no shot in hell ...im 1099

non-negotiable

[J.Celifarco]

well then we can agree to disagree

[Karen37a]

well then we can agree to disagree

I agree.

But I want to know the math on this. How is some newbie going to pay 10 people 36k a year...thats 360k...not including expenses.. 700k-1 million in total expenses. (including salaries.)

He has a slim chance of even making 1 million in sales ...let alone pay 1 million in expenses.

Let me know when you have the answers...because this 1099 misfit knows them already

[J.Celifarco]

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 not panic when they are having a bad month (which everyone has).