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  1. #1

    Post IOU Central Endorsed by Kevin O'Leary

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    IOU CENTRAL ENDORSED BY KEVIN O’LEARY, PARTNERS WITH O’LEARY FINANCIAL GROUP

    ATLANTA, Georgia, September 28, 2014 – IOU Central, a leading online lender to small businesses, today announced that it has signed a deal with Kevin O’Leary and O’Leary Financial Group.

    O’Leary Financial Group is a group of companies and products with a common set of guiding principles built on honesty, directness, and above all, great value. As part of this endorsement agreement, IOU Central will become O'Leary Financial Group’s preferred lending partner for small businesses in need of short-term capital. O’Leary and IOU Central will work together to deliver upon these common principles.

    “I’m constantly in search of first-rate services and solutions for the businesses that I own and invest in. When I discovered IOU Central, I was amazed at not just their reliability and efficiency as a lending company, but also their direct alignment with my own business values,” said O’Leary. “I want to ensure small business owners have access to a quality, trustworthy alternative lending source. That is why I am welcoming IOU Central as a member of the O’Leary Financial Group.”

    “We are excited about our new partnership with Kevin. His endorsement of IOU Central is a testament to our team and vision of being the number one resource in small business growth and expansion,” stated Brian Stupp, Vice President of Marketing. “IOU Central started as a small business, lending to small business. It is our heritage, and it helps us to understand our customers so that we can treat them the way we would want to be treated.”

    IOU Central, provides access to capital for small business with loans as small as $5,000 and up to $100,000. It is very easy to apply for a loan with IOU Central and loans are usually approved and funded within 2-3 days. To learn more or apply for a small business loan, visit IOUCentral.com or call 1-866-217-8564.

    About IOU Central

    IOU Central is a leading online lender specialized in helping small businesses with healthy cash flow. Typical customers include medical and dental practices, grocery and retail stores, restaurant and hotel franchisees and ecommerce companies. In a unique approach to lending, IOU Central’s advanced, automated application and approval system accurately assesses applicants’ financial realities, with an emphasis on day-to-day cash flow trends. It makes small business loans of up to $100,000 to qualified applicants within a few business days, with affordable charges favorable to cash-flow management. IOU Central’s speed and transparency make it a trusted alternative to banks. Based in metro Atlanta, Georgia, IOU Central is a privately held subsidiary of IOU Financial Inc. (TSX-V: IOU), which is headquartered in Montreal, Canada. For more information, visit www.ioucentral.com

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  2. #2
    Senior Member Reputation points: 903 Scott Williams's Avatar
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    Congrats to IOU Central! I am sure O’Leary Financial Group could of picked from a lot of different funders to partner with and went with IOU. Very big news for them.

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    I love that guy! "You know what you should do with that idea? Take it out by the barn and shoot it." I don't know if they do ISO biz, but if they do I'm signing up immediately.

  4. #4
    Didn't O'leary invest in an ISO on the shark tank?

  5. #5
    Quote Originally Posted by FUNd View Post
    I don't know if they do ISO biz, but if they do I'm signing up immediately.
    https://www.ioucentral.com/brokers/new

  6. #6
    FUND IT! Reputation points: 2147483647 Sean Cash's Avatar
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    Quote Originally Posted by Fundenem View Post
    Didn't O'leary invest in an ISO on the shark tank?
    Yes, with Total Merchant Resources. I don't know if the final deal ever went through though. Last I heard from them about it, they were renegotiating the terms. That was a while back.
    Last edited by Sean Cash; 09-29-2014 at 01:05 PM.

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    This model is proving to be an abject failure for the folks who hired another big name celebrity to endorse them. I can't see this turning out any different. The only winner here will be Kevin O"Leary. IOU got sharked out!

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    Quote Originally Posted by JayBallentine View Post
    This model is proving to be an abject failure for the folks who hired another big name celebrity to endorse them. I can't see this turning out any different. The only winner here will be Kevin O"Leary. IOU got sharked out!


    If they apply it properly, this is totally a growth hack. There're about 5 -7 steps they need to do correctly. It's not about just saying we do business with Kevin O'Leary. They have to be more subtle and see themselves the way the customer will see it, then re-broadcast that message back to them.

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    FUND IT! Reputation points: 2147483647 Sean Cash's Avatar
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    Quote Originally Posted by Franklin View Post
    If they apply it properly, this is totally a growth hack. There're about 5 -7 steps they need to do correctly. It's not about just saying we do business with Kevin O'Leary. They have to be more subtle and see themselves the way the customer will see it, then re-broadcast that message back to them.
    They don't have to say anything. Kevin O'Leary is advertising for them:

    kol.jpg

    More than 40,000 businesses apply to be on Shark Tank and the show gets nearly 7 million viewers per episode. Look up Kevin O'Leary and you find IOU Central's name right there...

    This will generate thousands of leads a week.

  10. #10
    Veteran Reputation points: 144931 J.Celifarco's Avatar
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    Thats a huge endorsement for their company

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    Quote Originally Posted by sean bash View Post
    They don't have to say anything. Kevin O'Leary is advertising for them:

    More than 40,000 businesses apply to be on Shark Tank and the show gets nearly 7 million viewers per episode. Look up Kevin O'Leary and you find IOU Central's name right there...

    This will generate thousands of leads a week.


    ABC receiving 40,000 businesses is a little different from Kevin himself receiving that, as he's not involved in casting. It will take a little more work from IOU then simply posting his face on the site.

    Just going by the numbers, it takes 7 million eyeballs to generate 40,000 leads, which converts to about half of one percent, which is close to normal direct marketing conversion when advertising to a wide, generic base (1/3 of 1 percent is typical). And the show has multiple episodes, plus re-runs, syndication, and youtube, so it's a lot of exposure, not just one look, that's generating 40k in apps.

    My question is, what is the traffic volume Kevin receives to his website? A keyword search for shark" tank" yield's about 220,000+ in monthly searches, but over 95% of that is related to watching the show, less than 3% of that is related to being cast on the show. Google Kevin O'Leary and it's under 7000 mthly searches, again, most regarding his status on the show, not working with him.

    Now having Kevin's face on the site will improve the stickiness and lower the bounce rate on their site, which helps greatly as people want to affiliate with other known celebrities and successful people. Also, many of those 40K apps are start ups and people watching shark tank in their bedroom, and then deciding to put down their bowl a cereal, pull up their underwear, and give the show a call to get a million dollars to fund their refrigerator sleeping bags that redistribute heat while you sleep, so you can camp on the bathroom floor and it feels like you're in the woods.


    IOU needs to implement a smart strategy to leverage the face recognition Kevin provides or they won't maximize the asset they have, the way Total Merchant didn't.

  12. #12
    FUND IT! Reputation points: 2147483647 Sean Cash's Avatar
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    touché

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    Quote Originally Posted by sean bash View Post
    They don't have to say anything. Kevin O'Leary is advertising for them:

    kol.jpg

    More than 40,000 businesses apply to be on Shark Tank and the show gets nearly 7 million viewers per episode. Look up Kevin O'Leary and you find IOU Central's name right there...

    This will generate thousands of leads a week.

    Your position was different from mine about the last guys... Not turning out to be so good for those guys... Want to place a friendly lunch wager on this one?

    We'll see how this one pans out. This dude is a shark though. Have you ever seen him go easy on anyone on the show? Anyone ever get a "great deal" out of this guy? Does the IOU rate structure support this? If you're WBL, this makes sense everyday and 1,000 times on Sunday... but IOU?

    How much will it cost them to process bad (startup) leads? What's the process for processing what will be mostly bad (startup) leads? How many humans involved? How are they paid? Can they use leads, both good and bad to get some semblance of a K-Factor? So many questions...

    I'm yet to see any company get really big on the back of a celeb endorsement... I've seen endorsers who were not big become celebs (Dave Thomas, Ronald McDonald, Jared from Subway, etc.)...
    Last edited by JayBallentine; 09-30-2014 at 02:54 PM.

  14. #14
    FUND IT! Reputation points: 2147483647 Sean Cash's Avatar
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    the only position I have committed to on this one is that it will generate a lot of leads, which I believe it will.

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    Quote Originally Posted by JayBallentine View Post
    Your position was different from mine about the last guys... Not turning out to be so good for those guys... Want to place a friendly lunch wager on this one?

    We'll see how this one pans out. This dude is a shark though. Have you ever seen him go easy on anyone on the show? Anyone ever get a "great deal" out of this guy? Does the IOU rate structure support this? If you're WBL, this makes sense everyday and 1,000 times on Sunday... but IOU?

    How much will it cost them to process bad (startup) leads? What's the process for processing what will be mostly bad (startup) leads? How many humans involved? How are they paid? Can they use leads, both good and bad to get some semblance of a K-Factor? So many questions...

    I'm yet to see any company get really big on the back of a celeb endorsement... I've seen endorsers who were not big become celebs (Dave Thomas, Ronald McDonald, Jared from Subway, etc.)...


    Last guys weren't marketers, and Kevin is a Shark, not a marketer either. You can easily funnel out the bad start up leads in a way that doesn't tie up or cost human capital. And if IOU is aligned properly, they'll be able to monetize a large percentage of those leads, and this case, having Kevin would help that.

    Nike - Michael Jordan
    Apple (iPod) - U2
    FUBU - LL Cool J
    OPI Products - Serena Williams
    Tommy Hilfiger - Grand Puba (from Brand Nubian, and was not compensated).
    Numerous NY Times Bestsellers - Oprah - Oprah book club


    All of these companies/people increased sales/usage using these celebrities to endorse. Any book Oprah reviews positively goes on NY times best seller. But agreed, 90%+ of celebrity endorsements cannot be linked to an increase in sales and usually result in a waste of money. Much better to align yourself with a partner who compliments your weaknesses and build a relationship where you both stand to gain.

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    Quote Originally Posted by sean bash View Post
    the only position I have committed to on this one is that it will generate a lot of leads, which I believe it will.
    Very well said. My position is, they won't make any money off of the many leads.

    I'd rather make a mint on a few leads than nothing on a lot.

    They'd be better off custom tailoring a program for war vets and training them to go door to door... After all the guy was just getting shot at for his country as a fellow American and biz owner, you at least have to listen to him... And let him grab your email to follow up even if you're not interested at the moment.

    That spreads pretty quickly. Pretty organically. Great company. Great rates. Patriotic. Loves America. Let's all hold hands and share candy.

    Anyway - that's just one of my brain farts. A "minor edit" to something a former Special Forces vet I know is doing to destroy CC processing in TX.

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    Also - this is completely anecdotal... But let's say I am a Shark Tank watching, high performing, Main Street business owner... Me personally, I get to a site and I see "Mr. Wonderful" - I'm running; "that guys' a shark! no way!" lol

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    Quote Originally Posted by JayBallentine View Post
    Also - this is completely anecdotal... But let's say I am a Shark Tank watching, high performing, Main Street business owner... Me personally, I get to a site and I see "Mr. Wonderful" - I'm running; "that guys' a shark! no way!" lol

    It's so linear. Business owners aren't the only thing they'll generate that will add value, and they will make money, it's just a question of a little or a lot, (and how much O'leary takes).


    Would that Texas veteran doing CC, happen to be named Robert?

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  20. #20
    FUND IT! Reputation points: 2147483647 Sean Cash's Avatar
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    Quote Originally Posted by IOUCentral View Post
    Yeah I just saw Kevin O'Leary talking you guys up on facebook too and saw merchants replying in the comments that they needed money to expand. Wild.

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