[fundingsmbs]

"1650 dials (approximately 17 days) and added 57 new prospects to my pipeline. This equates to 97 dials per day over 17 days." Zero applications and statements = no ROI yet. You also have to add in time=money. How long did 97 dials per day take you on average?


"I have generated roughly 25 actual submissions from cold calling exclusively since May; only 3 closed with 5 deals funded (small ones)." How did 3 deals close but you funded 5 deals? May-Current would= 4 submissions per mo on avg.

on those larger files where they were killed at the end, did you try other companies as well or let it go once it got killed? I can tell you many many times when a deal is killed, we have been able to secure funds elsewhere with the same file. Maybe add some funder's if your seeing a contract in/decline trend.

[capaxess]

Grateful for your feedback, thanks!

5 deals funded because two of my clients got two positions each from different lenders.

97 dials take about 90-120 minutes depending on how many engagements with prospects I actually get into. Because not all days/times are optimal I tend to "bunch" my calling into 200-400 dial sessions. My new minimum standard is to make at least 600 out-bound cold calls (dials) per week on top of all my other activities.

Time and experience are my only resources to build a book. I plan to invest in tools to become more efficient but I need to close some more deals first. I used these same skills in the brokerage industry for decades and they always had me at or near the top of production standings. Frankly I a little dismayed at how long this is taking to produce returns. I'm in contact with others who are tearing it up and it's frustrating.

On the larger files I almost wanna cry; one deal $375,000 was killed at login by the funder because the merchant was negative. The others were all at differing stages of closing when either the merchant went dark or decided to take a different offer.

I feel that my priority should be to increase deal flow since the percentage of submissions that actually fund is low. I have good funding source relationships but I'll never be on serious funders' speed dial because my deal flow is pathetic. I find it's much easier to find fund-ers than to find fund-ees!!lol!