[Fly]

I think long term, the super brokers like lendio, fundera, and other fintechs(kabbage, paypal, ondeck) have the gobs of $ to sink into digital marketing and make everything automated will eventually drive all the small broker shops out of business. The writing was already on the wall. Learn Equipment Finance, a lot less automated and not saturated with competitors spending millions on advertising. And can pay even larger commissions for brokers.

[golf2014]

Lol...clueless op

[iawia_advanced]

you just have to deal with the right people - like everything else in this business. Funders, Merchants, and Lead people are the 3 most important 'know your' topics. Besides that, be good on the phone and work and you'll make money. A lot of it.

And for funders and merchants, working with "the right" broker is as important as anything...

[JakeS]

There is never a good or a bad time to enter into any industry . One mans failure is another mans success .
Ask your self some important questions :

1- How much experience do you have selling B2B ? If very little then I would go to work for a reputable ISO and get some real life experience. You can check out sites like Funderintel and see the ratings of ISO shops . This will help you make an educated decision.

2- Do you have the cash to support yourself and fund your start up. You need enough to cover your expenses, and explore different types of lead generation along with a CRM so that you can mange a pipeline . If you need to close a deal in the first month you will probably not make it.

3-Take the time to learn how to manage your book of business. Driving in new business is essential but managing the relationship afterwards is the key to renewals. You need to balance that time to be profitable.


4-Take the time to learn which Funders are reliable, underwrite upfront and don't walk back offers after you convince a merchant to take high cost money . This will only kill valuable time that you can use prospecting . Do they pay commissions promptly ? Work with Funders that pay full commissions on renewals .

Learn the business (6-9 months) and all it has to offer before you think about how much money you make every month. This business has a ton of talent and will eat you up when competing for deals.

I have been in this space for 10 plus years and I can always spot the professionals immediately .

Best of luck to you which ever path you choose.

Jake Strelzik
Vice President / ISO Relations

4000 Hollywood Blvd
Hollywood , FL 33021
954-641-8756 (office) /305-785-2548 (cell)
888 472 2933 fax
jstrelzik@flashadvance.com
www.flashadvance.com