[MCNetwork]

Great post. This guy (or gal) knows his stuff!

The type of UCC pitch I like to use relies on trying to establish familiarity and rapport from the first few seconds. Tonality and cadence is incredibly important. You need to overwhelm his initial resistance with friendliness and charisma:

"Hi Tom, this is Archie from Jumpstart Capital (spoken in a very high energy, upbeat, familiar tone). I spoke to you a few months ago (they get hundreds of calls so he probably won't remember anyway) about financing for your business. You weren't in the market but you told me to follow up around this time. I'm just checking in to see if you're ready to look at some new programs. How's everything going?"

Notice how there was no question about refinancing or needing cash. No "Yes" or "No" questions. This is a very soft sell where you are offering some options for him to look at. It's innocuous and very non-threatening. Who doesn't like to look at options? The goal is to engage the prospect and build familiarity immediately to elicit more information about his business. This will provide the clues on how to structure your interaction and where to lead the conversation.

As FundingStrategist said, you're the Funding Pro so don't pigeon hole yourself as being one of those cash advance guys. You have to offer a variety of funding options, ranging from short-term to long-term programs, SBAs, business loans, etc. Your goal is to learn about the merchant's business and find the best product for his specific need. If you're a one-trick pony only offering MCAs, you'll find a lot of doors slamming in your face. Many of the UCC listings have had terrible experiences with MCAs so you better have alternatives for them. Whether or not they qualify for these alternatives is another story. The goal, however, is to get the completed application to see where the applicant's credit profile lies and then properly manage his expectations so you can close a deal.

[Karen37a]

Great post. This guy (or gal) knows his stuff!

The type of UCC pitch I like to use relies on trying to establish familiarity and rapport from the first few seconds:

"Hi Tom, this is Archie from Jumpstart Capital (spoken in a very high energy, upbeat, familiar tone). I spoke to you a few months ago (they get hundreds of calls so he probably won't remember anyway) about financing for your business but you told me to call back around this time. I'm just checking in to see if you're ready to look at some new programs. How's everything going?"

Notice how there was no question about refinancing or needing cash. No "Yes" or "No" questions. This is a very soft sell where you are offering some options for him to look at. It's innocuous and very non-threatening. Who doesn't like to look at options? The goal is to engage the prospect and build familiarity immediately to elicit more information about his business. This will provide the clues on how to structure your interaction and where to lead the conversation.

As FundingStrategist said, you're the Funding Pro so don't pigeon hole yourself as being one of those cash advance guys. You have to offer a variety of funding options, ranging from short-term to long-term programs, SBAs, business loans, etc. Your goal is to learn about the merchant's business and find the best product for his specific need. If you're a one-trick pony only offering MCAs, you'll find a lot of doors slamming in your face. Many of the UCC listings have had terrible experiences with MCAs so you better have alternatives for them. Whether or not they qualify for these alternatives is another story. The goal, however, is to get the completed application to see where the applicant's credit profile lies and then properly manage his expectations.

He made mistakes in his pitch but its better than most and for the 10000000 time

if you say Hi I am from jumpstart capital ( not interested) of if you talk thru it they tune fk out after they hear that word capital and they are waiting for you to pause talking so they can say

NOT INTERESTED

And if you end the paragraph on Hows everything going? OPEN ENDED

They will say "not good and take me off your list"

__

I want a tazer...BUZZ , Buzzzzzzz , BZZZZZZZZZZZZZZZZZZZZ...at least i can have some fun or laugh

[MCNetwork]

if you say Hi I am from jumpstart capital they tune fk out after they hear that word capital and they are waiting for you to pause talking so they can say

NOT INTERESTED

And if you end the paragraph on Hows everything going? OPEN ENDED

They will say "not good and take me off your list"

Haha are you the new John Tucker? Why so negative?

The goal is not to trick them by omitting the fact that you provide financing. The goal is to quickly find the "Yes's", not to convince the "No's" into becoming "Yes's". Cold calling is a numbers game. The goal is to find those with buying signals quickly and efficiently, not to have long drawn out conversations that lead you nowhere.

If they don't want financing, then they just saved you a lot of time and headache. NEXT!

[Karen37a]

Haha are you the new John Tucker? Why so negative?

ok thats the worst thing you ever said to me in your life

please do not say that

in fact I can show you how to do it...it would take about a week to fix it if you wanted to call people ...like a project to prove its right ( you would have to never tell anyone though how to do it)

lol

** and you are not tricking people. You just have to get past 30 seconds to get to the next 30 seconds to then give the meat of the pitch


If we were regulated you have to say the name of the company in 30 seconds...i use to have a timer on my desk to say the name of the company at the last second...then wrote the scripts

Saying the name in 30 seconds vs 1 second gives better results

they hear word salad after you say "capital" ( or recognize that you are a phone salesperson) so you better have grabbed their attention in the first 30 seconds

[DonMcGrath]

Haha are you the new John Tucker? Why so negative?

The goal is not to trick them by omitting the fact that you provide financing. The goal is to quickly find the "Yes's", not to convince the "No's" into becoming "Yes's". Cold calling is a numbers game. The goal is to find those with buying signals quickly and efficiently, not to have long drawn out conversations that lead you nowhere.

If they don't want financing, then they just saved you a lot of time and headache. NEXT!

I think what she means is because merchants hear the word funding and capital so frequently from random cold calls, the second they hear that word an unconscious barrier goes up and nothing you say after that will be received.
Like the hot girl who gets cat calls every time she walks by a group of men. How many times have you seen her stop and respond with a conversation. It takes a lot of skill/experience to say the same thing as everyone else but deliver it uniquely, (but it can be done).


I thought the John Tucker reference was very classy and delivered with charm and grace MCN. I know I appreciated you noticing...

[Karen37a]

I think what she means is because merchants hear the word funding and capital so frequently from random cold calls, the second they hear that word an unconscious barrier goes up and nothing you say after that will be received.
Like the hot girl who gets cat calls every time she walks by a group of men. How many times have you seen her stop and respond with a conversation. It takes a lot of skill/experience to say the same thing as everyone else deliver it uniquely, (but it can be done).


I thought the John Tucker reference was very classy and delivered with charm and grace MCN. I know I appreciated you noticing...

this is correct

and his charm and grace delivering to me the JT Reference...if I had $1 for how many times mcn joined in with the king piker himself saying

"she must have something to hide if she fears regulation" and other negative jabs and I didnt slap him silly back...id be mega rich

[FundingStrategist]

Great post. This guy (or gal) knows his stuff!

The type of UCC pitch I like to use relies on trying to establish familiarity and rapport from the first few seconds. Tonality and cadence is incredibly important. You need to overwhelm his initial resistance with friendliness and charisma:

"Hi Tom, this is Archie from Jumpstart Capital (spoken in a very high energy, upbeat, familiar tone). I spoke to you a few months ago (they get hundreds of calls so he probably won't remember anyway) about financing for your business. You weren't in the market but you told me to follow up around this time. I'm just checking in to see if you're ready to look at some new programs. How's everything going?"

Notice how there was no question about refinancing or needing cash. No "Yes" or "No" questions. This is a very soft sell where you are offering some options for him to look at. It's innocuous and very non-threatening. Who doesn't like to look at options? The goal is to engage the prospect and build familiarity immediately to elicit more information about his business. This will provide the clues on how to structure your interaction and where to lead the conversation.

As FundingStrategist said, you're the Funding Pro so don't pigeon hole yourself as being one of those cash advance guys. You have to offer a variety of funding options, ranging from short-term to long-term programs, SBAs, business loans, etc. Your goal is to learn about the merchant's business and find the best product for his specific need. If you're a one-trick pony only offering MCAs, you'll find a lot of doors slamming in your face. Many of the UCC listings have had terrible experiences with MCAs so you better have alternatives for them. Whether or not they qualify for these alternatives is another story. The goal, however, is to get the completed application to see where the applicant's credit profile lies and then properly manage his expectations so you can close a deal.

Thank you, Archie! These are some really helpful points as well.

Rapport and Flexibility are key.

-FundingStrategist
https://fundingstrat.com

[WestCoastFunding]

Thank you, Archie! These are some really helpful points as well.

Rapport and Flexibility are key.

-FundingStrategist
https://fundingstrat.com

When Karen sees you praised Archie without praising her, both you and Archie are going to get screamed at. Expect a phone call in next hour.

[Karen37a]

When Karen sees you praised Archie without praising her, both you and Archie are going to get screamed at. Expect a phone call in next hour.

west I am a woman in Finance you think I care ...someone took a sales whiteboard down because 2 girls were on the top and never coming back off-of the top...they made her cry though

And if I cared I would have never been "Karen"..

Same with computer programming or computer science...if you tell a man you have more degrees or know more they will melt down

Someone challenged me to a 100 ucc 90-day dialling face off...that pretty much topped the cake

Looking back on it all now can you see that I was "trying" to be humble and stay grounded lol Only when someone would really piss me off you see me type ...I am from the hamptons and my purse costs 50k...we had 2 billion aum...funded billions etc etc.

This really has been ridiculous


They mostly are rebelling against marketing directly thru face to face or cold calling...there comes a day where everyone gets to the point of reality that " I have to pick up the phone" and " I have to be conneced to some source of big money like a hedge fund" ( and be nicer to c/d paper)

Thats when they come crawling... I am pretty stubborn ...ill never help them...ever ( not even if someone gave me 1 million cash)

Loyalty means a lot to me....maybe it is the sicillian part of me

[FundingStrategist]

When Karen sees you praised Archie without praising her, both you and Archie are going to get screamed at. Expect a phone call in next hour.

Haha, got it. It goes without saying Karen is always crushing it out here.


-FundingStrategist
https://fundingstrat.com

[Karen37a]

Haha, got it. It goes without saying Karen is always crushing it out here.


-FundingStrategist
https://fundingstrat.com

funding do not turn into them

you can close...most of them cant ( west coast has a good business going)

__

As a young girl in my 20s, I had to cold call accredited investors millionaires, to tell them I was going to call them back to pitch a stock. I got my arse handed to me by secretarys, the investor themselves. I thought" how the hell am I going to do this as a woman I cant get thru on the phone"

So I perfected the getting past the gatekeeper and the entry into the pitch..so I had a slim shot of making them get on the phone and then hold on. The guy buying stock was a whole new adventure

"I wont do business with a woman".....Whos the woman , grab your balls and do the trade

I.figured it out. Eventually owned a stock brokerage firm..partners

I am tired of the excuses from people and the horrible " hi I am from xys capital" it doesn't work.

The only reason I chime in is people are saying that their experience is everyone's, scaring other people off. It isn't close to being true.

Then if you are good in sales the remarks are next " she is from Brooklyn" no I am not " she was barred from the stock market" no i was not, not one complaint. "She doesnt understand computers " I have a computer science degree and programming. "We need Regulation to level the playing field " no we do not, not that way " Karen has typos and I am sure she doesnt undertand the meaning of the word algorithms, pinky out" ...yes I do have typos...fake fingernails, speed typing., 150 IQ. . etc etc

People need to get a grip...figure it out or don't

__

Bud Fox

Life all comes down to a few moments, this is one of them.

Gordon Gekko

This is the kid, calls me 59 days in a row, wants to be a player. There ought to be a picture of you in the dictionary under persistence kid.

( that was my part lol)

[FundingStrategist]

funding do not turn into them

you can close...most of them cant ( west coast has a good business going)

__

As a young girl in my 20s, I had to cold call accredited investors millionaires, to tell them I was going to call them back to pitch a stock. I got my arse handed to me by secretarys, the investor themselves. I thought" how the hell am I going to do this as a woman I cant get thru on the phone"

So I perfected the getting past the gatekeeper and the entry into the pitch..so I had a slim shot of making them get on the phone and then hold on. The guy buying stock was a whole new adventure

"I wont do business with a woman".....Whos the woman , grab your balls and do the trade

I.figured it out. Eventually owned a stock brokerage firm..partners

I am tired of the excuses from people and the horrible " hi I am from xys capital" it doesn't work.

The only reason I chime in is people are saying that their experience is everyone's, scaring other people off. It isn't close to being true.

Then if you are good in sales the remarks are next " she is from Brooklyn" no I am not " she was barred from the stock market" no i was not, not one complaint. "She doesnt understand computers " I have a computer science degree and programming. "We need Regulation to level the playing field " no we do not, not that way " Karen has typos and I am sure she doesnt undertand the meaning of the word algorithms, pinky out" ...yes I do have typos...fake fingernails, speed typing., 150 IQ. . etc etc

People need to get a grip...figure it out or don't

__

Bud Fox

Life all comes down to a few moments, this is one of them.

Gordon Gekko

This is the kid, calls me 59 days in a row, wants to be a player. There ought to be a picture of you in the dictionary under persistence kid.

( that was my part lol)

Love this. Always the kid (persistent). Never ripe, always growing.


-FundingStrategist
https://fundingstrat.com

[Karen37a]

Love this. Always the kid (persistent). Never ripe, always growing.


-FundingStrategist
https://fundingstrat.com

And that salespersons spirit stays with you until the day you die. So true salespeople know when they meet another true sales person after a few mins of chatting or reading.




Saying " where do we get inbound leads" ...is the most annoying thing anyone can ever say in my presence. My answer " The Bank"

Enter stage right um foo foo and the lead sellers lol


** there are some true lead sellers and data resellers


Id love for someone to have a contest. No computer gadgets just a phone and your car and a paper application. See who can go out and get back with an application ( that can fund) filled out the fastest.

Then a straight on the dial from yellow pages for a sale as the second phase.

People hate when I say it..but if there was enough money on the table id make it back by 12 pm with both applications or die trying...no quitting.

Anyone can do it. And if not at first ...practicing makes you better, people have to just want to. Set a goal. Do it or die trying....no quitting.

__

I once recruited 200 people/isos in one month having a bad bad bad flu my friend driving me around in a new Cadilac me in the back seat with a bucket.I tried to get him to enter mca...he said not for all the tea in china ( nothing against mca...insurance was this way, loans, investments,,its just sales. He doesnt want to deal with brokers and isos acting nuts )

Thsi is what one of my friends from the investment side of the business thinks

Truthfully, this website could be the thing Amazon or Netflix needs. With all the drama and intrigue, not to mention the downright nasty personalities there is either a reality show, or a weekly series in there somewhere. Just imagine the split screen scenes where multiple brokers work to undermine each other and the same deal, the public would be mesmerized. Deals being stolen, stacking 10 deals wide—White labeling to infinity and back. The blood bath that happens every time some new broker asks a question. The rumble that breaks out whenever someone ask what is a good lead source? And now we have the fake contracts and fake LLC’s—never a dull moment.

Glory Days...Watch Next year...its going to be BIG for most of us who didnt quit and hung around thru the down cycle, not screaming " mca only has 3 or 5 years to go" ...BS

If everyone can act sane and stop complaining that they do not want to make phone calls or be a salesperson. EVERYONE will make BIG money

or Dont...I am going up and over the top of Mt Everest with out you ( chasing the few that are already over and heading down...leave your extra oxygen tank at the top..i am going to need it)

[Jstarr]

OMG, Seriously, i wish the admin would ban Karen37a -According to her, she's an expert in everything, and is constantly telling brokers why they are wrong and she's right - and she constantly wants to back it up by letting everyone know that she's had 500 mortgage brokers work for her Blah, Blah, Blah , VOMIT, Garbage, ALL BS.

You spend your entire day on here giving bad information and spewing vomit. there are people on this forum that are looking for advice from other people and they cant get the desired input because you are littering up this page with crap - Get a job !!

And trust me, I know you cant lose a paper bag - i've had lenders call and tell me about how you co-brokered deals and tried to get them to pay you directly and cut out the broker. chances are that most of the brokers on this page are doing far better than you are, and ill tell you why - its because they are on the phone and not sitting here like a little troll giving ****ty advice --- Elizabeth Cooper, that hides behind a fake screen name.

OMG, You make this industry look bad