[Karen37a]

Personally, I wouldn't want to ever be W-2 again. Haven't been for decades.
I don't have a basement either, nor business cards (no need).

I do have reps that are all 1099 and they would say the same as I, screw you W-2.

Yes, if you're in a big house and like corporate hierachy,etc. Then what you value isn't
really the game, it's the structure. Personally I like the bigger payoffs and the freedom.

And thats the fight on here

1099 vs w/2

Welcome to the 1099 team

And my 1099 brokers don't want to be w/2 either


* the brokers who are failing try to say you have 1099 brokers because you have no money to pay salaries and its really just jealousy because they can't make sales and they most certainly cant recruit 1099 brokers to follow them or work for them

[Kevin Henry-Seacoast]

Oh OK. I am not a broker so I am not part of this argument. I was an investment banker, institutional sales person, equity trader, and ran a division for a very large company before entering the institutional asset based lending world. Over 30 years I lived W-2, Salary plus bonus, draw plus commission, and 1099. The W-2 plus bonus came with some stock options. The combination of the income and options afforded me the luxury of going into semi-retirement at a young age once. I got bored and decided to work again....

[Karen37a]

Kevin one of my other friends (but from real life ) who is on here...really justs watches this crap from afar.... has 700 independent 1099 Stockbrokerage firms signed on to him ( clearing ...trading sydications)

you never really know who you meet until you get to know them in person


My other best friend ...use to work in the same firm ( 10 years ) as one big A paper company... won't say which one


And you know I made my way thru the Nyc long island circuit as a stockbroker ( commission only) then opened a small firm( 15 years)...it is a small world


lets get some guy out here again to tell me I am rookie and cant sell..

I gave people here the BEST honest advice...no ulterior motives other than trying to keep mca alive

[jotucker1983]

John, you are using oversimplifications. My theory for sales is that both #1 and #2 are essential.

Got it.

You can have #2 in spades, but without #1, the right attitude, you will quickly lose hope and fizzle out. A positive mindset helps you overcome personal challenges and it is an attitude that is conveyed over the phone to merchants. Merchants are responsive to positive, upbeat, enthusiastic salespeople. They are turned off by over-analytical, low energy people who speak in monotone. If you are the latter, all of the best funder relationships and leads in the world won't help you succeed in this industry.

Okay so you do admit the importance of #2 which is great, let's continue the discussion here.

My question is this, why is there often very little discussion on #2? There's so little discussion on #2 that it's almost as if #2 is irrelevant and to the vast majority of sales managers, trainers, etc., if you ask them....they will straight up tell you that #2 is irrelevant. But when you pulllllll back the curtain and examine how a Top 10% sales rep (guy making over $100k a year let's say) got to that position, you will notice a pattern across the vast majority of them and it's this:

- They all had a system in place to get a steady, consistent, flow of quality leads that the vast majority of other sales reps DID NOT have access to

Don't take my word on it, round up them up in a room and examine their individual territories or sales operations.

Now could it be....could it be Archie that the reason the sales industry does not discuss #2, is because #2 would be too revealing of their secret sauce? In other words, they want to over-emphasize #1 because it really doesn't reveal anything about their own personal secret sauce, in which revealing said information would create direct competition?

I mean, let's just be real here for a moment, shall we lol? What kind of advice is "Believe in yourself, work hard, and keep an upbeat attitude?" What kind of advice is that really lol? Does that advice breakdown market demand, strategic marketing, strategic budgets, strategic positioning, special underwriting access, or any of the other REAL ingredients that actually contributed to the creation of the secret sauce?

My theory is that 80% to 90% (or more) of sales reps are failing because they are not equipped with resources to actually create a consistent, steady, systematic flow of leads. Instead, they are only equipped with how to be positive, happy, upbeat, and memorize sales scripts....all of which mean absolutely nothing without a system of leads coming in.

[Karen37a]

We use to get paid commission only on the 20th of the month back in the day...some nasty owners of firms would get everyone on a plane to Atlantic city on payday...everyone would spend all their money and they go nuts( on the phone) when they came back the next day because they were broke

Broke down plane holding on for dear life ...i only took that trip once

they leave those parts out of the movies


This fool needs to understand I can call Manta /yellowpages and within 10 live calls someone will say YES

__

Yes to what ? They have to QUALIFY

im out

[jdlaw]

"Now could it be....could it be Archie that the reason the sales industry does not discuss #2, is because #2 would be too revealing of their secret sauce? In other words, they want to over-emphasize #1 because it really doesn't reveal anything about their own personal secret sauce, in which revealing said information would create direct competition?"

Nail hit firmly on the head.

[Karen37a]

"Now could it be....could it be Archie that the reason the sales industry does not discuss #2, is because #2 would be too revealing of their secret sauce? In other words, they want to over-emphasize #1 because it really doesn't reveal anything about their own personal secret sauce, in which revealing said information would create direct competition?"

Nail hit firmly on the head.

heres the secret sauce ....said it 1000000000 times


anyone will say YES to money if you are a half decent salesperson...we are GIVING away money

you have to find the ones who qualify and they can't get past the secretary to talk to them

( so they only talk to the ones with no secretay...lower income or low level secretaries , loweer income..they cant get past higher income companies secretaries)

They are being hung up on off the front

They suck on the phone and won't be coachable


So they wander over to my desks and say ahhhhhhh she must have special leads


There are no special leads...if you found a good lead person the only thing they do is narrow down the time...someone wants money now or in the near future

Pick up the freaking phone and build a 90 day pipeline or go to mcds

[jdlaw]

I don't "give" away money. Factor rates from 1.3 to 1.49. Not exactly free.

It's all about control, confidence and cost justification.

[Karen37a]

I don't "give" away money. Factor rates from 1.3 to 1.49. Not exactly free.

It's all about control, confidence and cost justification.

You have to get past the secretary...and they can't do it and when they get the decision maker on the phone you have 30 seconds to capture their attention and they can't do it

Stockbrokers spent many years breaking thru the gatekeepers of millionaires...that's, why they cant compte against us

And we had to learn how to do it....took me 1 week BANG first sale( as a kid as a stockbroker)...i was trained going in though

walk in sales only...i had to learn to do phone sales and I didnt really want to do it...i had a college degree and I was from the North shore of long island

I was coachable though...i wanted to make it..too much pride to go out in a body bag

[jdlaw]

Never had problems with gatekeepers for the most part. Though honestly, don't run into
it as an issue anyway.

[Karen37a]

Well great...you are making sales..and anyone else can...no more complaining about it ( not you them...you seem like you have it, the will to win)

I think I wanted to make it more than most

I had a tape recorder and spoke my pitch into it...changed it

Read sales books tapes...learned to not say "contract" its a fear-inducing word..its an agreement...legal contract once signed

its not ab "application" it is a pre-approval form

Some people say so many negative words its like bees stinging me

you pull to the close...not push...lead them in

So many many many many more mistakes...it was an absolute joke that someone though some sales bozo trainer who leaves voicemail messages had one small shot against me on the phone

People want any other answer to the puzzle except "pick up the phone and make cold calls and warm calls"

I bit the bullet as a kid...said I am either going to pick up this phone or leave in disgrace...and i did it and mastered it

No excuses

im out

[jdlaw]

Only been doing this biz for about 8 years, so I'm still figuring it out....(cough cough)

As far as trainers, the problem their is the trainer was usually a so-so sales rep.
The hammers have no neither the desire nor time to waste on less profitable activities.

[Karen37a]

Only been doing this biz for about 8 years, so I'm still figuring it out....(cough cough)

As far as trainers, the problem their is the trainer was usually a so-so sales rep.
The hammers have no neither the desire nor time to waste on less profitable activities.

I can tell 1099


top sales people want 1099

[MCNetwork]

According to an old Hindu legend...

..there was once a time when all human beings were gods, but they so abused their divinity that Brahma, the chief god, decided to take it away from them and hide it where it could never be found.

Where to hide their divinity was the question. So Brahma called a council of the gods to help him decide. "Let's bury it deep in the earth," said the gods. But Brahma answered, "No, that will not do because humans will dig into the earth and find it." Then the gods said, "Let's sink it in the deepest ocean." But Brahma said, "No, not there, for they will learn to dive into the ocean and will find it." Then the gods said, "Let's take it to the top of the highest mountain and hide it there." But once again Brahma replied, "No, that will not do either, because they will eventually climb every mountain and once again take up their divinity." Then the gods gave up and said, "We do not know where to hide it, because it seems that there is no place on earth or in the sea that human beings will not eventually reach."

Brahma thought for a long time and then said, "Here is what we will do. We will hide their divinity deep in the center of their own being, for humans will never think to look for it there."

All the gods agreed that this was the perfect hiding place, and the deed was done. And since that time humans have been going up and down the earth, digging, diving, climbing, and exploring--searching for something already within themselves.


The moral of the story is that there is no "secret sauce" to succeeding in this industry. No Glengarry Ross leads, no super special funding relationship, no top secret clever marketing campaign that will propel you to riches. Believing that others succeed where you fail because of a "secret sauce" is just a convenient excuse to wallow in self-misery at your lack of ability. The "secret sauce" is and always has been within you. Before you go about blaming your failures on the unfair advantages that others seem to enjoy, take a long hard look in the mirror and ask yourself "Am I really living up to my potential as a salesperson and am I truly doing all the things I need to do to be successful?" If you can honestly answer "no" and take corrective steps, then you will be on your way to maximizing your inner "secret sauce."

[Karen37a]

According to an old Hindu legend...

..there was once a time when all human beings were gods, but they so abused their divinity that Brahma, the chief god, decided to take it away from them and hide it where it could never be found.

Where to hide their divinity was the question. So Brahma called a council of the gods to help him decide. "Let's bury it deep in the earth," said the gods. But Brahma answered, "No, that will not do because humans will dig into the earth and find it." Then the gods said, "Let's sink it in the deepest ocean." But Brahma said, "No, not there, for they will learn to dive into the ocean and will find it." Then the gods said, "Let's take it to the top of the highest mountain and hide it there." But once again Brahma replied, "No, that will not do either, because they will eventually climb every mountain and once again take up their divinity." Then the gods gave up and said, "We do not know where to hide it, because it seems that there is no place on earth or in the sea that human beings will not eventually reach."

Brahma thought for a long time and then said, "Here is what we will do. We will hide their divinity deep in the center of their own being, for humans will never think to look for it there."

All the gods agreed that this was the perfect hiding place, and the deed was done. And since that time humans have been going up and down the earth, digging, diving, climbing, and exploring--searching for something already within themselves.


The moral of the story is that there is no "secret sauce" to succeeding in this industry. No Glengarry Ross leads, no super special funding relationship, no top secret clever marketing campaign that will propel you to riches. Believing that others succeed where you fail because of a "secret sauce" is just a convenient excuse to wallow in self-misery at your lack of ability. The "secret sauce" is and always has been within you. Before you go about blaming your failures on the unfair advantages that others seem to enjoy, take a long hard look in the mirror and ask yourself "Am I really living up to my potential as a salesperson and am I truly doing all the things I need to do to be successful?" If you can honestly answer "no" and take corrective steps, then you will be on your way to maximizing your inner "secret sauce"

most of this is true

But I can bet you I created a special sauce break thru the gatekeeper script

and a script that takes out all the fear inducing words and pulls to the close

Then sells the dream ...locks down close

wolf of wall st bastardized the sytem...didnt even sell the pen right

some people can whoop him up and down the street in sales without stealing


* and i never let those nasty brokers get ahold of it...although they heard me on the phone

loved this one

" did I tell you we could drop the rate...and btw we are a direct lender!" ....click dial tone

[MCNetwork]

The "secret sauce" to breaking through gatekeepers has been written countless times by Zig Ziglar, Brian Tracy, et. al. Be friendly, build rapport and ENGAGE with them!
There is no secret script lol. You aren't a Jedi!

[jotucker1983]

The moral of the story is that there is no "secret sauce" to succeeding in this industry. No Glengarry Ross leads, no super special funding relationship, no top secret clever marketing campaign that will propel you to riches. Believing that others succeed where you fail because of a "secret sauce" is just a convenient excuse to wallow in self-misery at your lack of ability. The "secret sauce" is and always has been within you. Before you go about blaming your failures on the unfair advantages that others seem to enjoy, take a long hard look in the mirror and ask yourself "Am I really living up to my potential as a salesperson and am I truly doing all the things I need to do to be successful?" If you can honestly answer "no" and take corrective steps, then you will be on your way to maximizing your inner "secret sauce."

Archie, let me give you some specific examples:

- When we were discussing lead generation vendors earlier, you said the "trick" is finding reputable lead vendors, which means a reputable lead vendor is very difficult to find and finding one would be a "special/secret sauce".

- When you were discussing well capitalized sales offices that operate on W-2 (like On Deck, etc.), being well capitalized with large financial capital like On Deck has is a "special/secret sauce" that allows you to do various forms of marketing, advertising, in-house hiring for opener/closer telemarketers, strategic ad positions online, etc.

- When you look at the various press releases of various funders/lenders getting various rounds of equity capital, that's a "special/secret sauce".

- When you look at strategic partnerships being formed where companies like On Deck are partnering with major Tier I Banks, that's a "special/secret sauce".

- When you look at the story of our brother Juan Monegro from Yellowstone who funded $50 million in deals in one year, this is a guy that's leveraged within Yellowstone to get a consistent flow of Yellowstone's broker/ISO apps coming his way. Remember we talked about other Yellowstone Reps who are structured like this and some of them are making around $1 million a year. That's a "special/secret sauce".

- When I Google "merchant cash advance" the companies that pop up on page one are Fundera, On Deck, UCS, Rapid, National Funding, and Fora. They got there through strategic positioning tactics using SEO along with marketing capital. That's a "special/secret sauce".

The concept that one should just be positive, have faith, and "look within", is again going back to more New Thought Movement/Law Of Attraction/Magical Thinking stuff Archie lol.

[Karen37a]

Jealous lunatic

I am going to fund 5 million in a month to show him the special sauce

[jdlaw]

"You aren't a Jedi!" I beg to differ, close eyes, finger to temple: "These aren't the calls you want to screen."

Th

[MCNetwork]

John,

Well if you define the "secret sauce" as being able to execute the fundamentals really well, then that's what all those parties you mentioned are doing. Nobody is doing anything top secret. All of us veterans know what it takes to succeed. It just takes a good game plan, the personnel and the capital to execute it.

[Emoney]

Archie, let me give you some specific examples:

- When we were discussing lead generation vendors earlier, you said the "trick" is finding reputable lead vendors, which means a reputable lead vendor is very difficult to find and finding one would be a "special/secret sauce".

- When you were discussing well capitalized sales offices that operate on W-2 (like On Deck, etc.), being well capitalized with large financial capital like On Deck has is a "special/secret sauce" that allows you to do various forms of marketing, advertising, in-house hiring for opener/closer telemarketers, strategic ad positions online, etc.

- When you look at the various press releases of various funders/lenders getting various rounds of equity capital, that's a "special/secret sauce".

- When you look at strategic partnerships being formed where companies like On Deck are partnering with major Tier I Banks, that's a "special/secret sauce".

- When you look at the story of our brother Juan Monegro from Yellowstone who funded $50 million in deals in one year, this is a guy that's leveraged within Yellowstone to get a consistent flow of Yellowstone's broker/ISO apps coming his way. Remember we talked about other Yellowstone Reps who are structured like this and some of them are making around $1 million a year. That's a "special/secret sauce".

- When I Google "merchant cash advance" the companies that pop up on page one are Fundera, On Deck, UCS, Rapid, National Funding, and Fora. They got there through strategic positioning tactics using SEO along with marketing capital. That's a "special/secret sauce".

The concept that one should just be positive, have faith, and "look within", is again going back to more New Thought Movement/Law Of Attraction/Magical Thinking stuff Archie lol.

Everything Archie said is spot on Jon seriously your reaching for straws looking for reason's why the industry is going down the tubes...

But the reality of the situation is there a plenty of people making money in the industry...

I would love to spend the time going into the nuances of the "special/secret sauce" but I have docs to chase down....peace!!!

[Karen37a]

Everything Archie said is spot on Jon seriously your reaching for straws looking for reason's why the industry is going down the tubes...

But the reality of the situation is there a plenty of people making money in the industry...

I would love to spend the time going into the nuances of the "special/secret sauce" but I have docs to chase down....peace!!!

do not give it to him emoney lol

[TheTruth]

The "secret sauce" to breaking through gatekeepers has been written countless times by Zig Ziglar, Brian Tracy, et. al. Be friendly, build rapport and ENGAGE with them!
There is no secret script lol. You aren't a Jedi!

Amazing mentors to learn from! Follow their advice and be set for life.

[Karen37a]

Amazing mentors to learn from! Follow their advice and be set for life.

I agree

But Archie you say 3 things wrong off the first 5 seconds on the phone call...did they help you fix it?Beause I know what they are.

[Karen37a]

I can't even imagine what the bumbling non-coachable fool says off the front of the call LOL

I know he wanted to bet me on 100 uccs over 90 days

that was a fun debate