[cruisinman]

As we form our Broker Network using a MLM model and we focus on recruiting people looking to create an additional stream of income - I had a thought today.

Pay the Broker 50% of the commissions created on their personal funded deals. They can also receive a bonus of up to 50% of their personal commissions + up to 50% of their personally enrolled's commissions. We can take this money and roll it into a Syndicating Co-op that qualified Brokers can participate within

As a Network we take the total of all Bonuses and put the money towards funding up to 50% of our own Network deals . . . The participating Brokers can now create residual income via the Network's earnings from the Syndication.

Thoughts?

[ By the way - we don't charge anyone to join or participate in the Broker Network ]

[Steven_O]

Oh my G*d, the end of all things to come... the MLM of MCA?? LMAO. I can't...

[cruisinman]

Oh my G*d, the end of all things to come... the MLM of MCA?? LMAO. I can't...

Why be so dramatic?

Goal is for everyone to make money and help businesses gain access to working capital that they may need . . .

. . . and you don't have to

[TheUnderwritingProdigy]

Why be so dramatic?

Goal is for everyone to make money and help businesses gain access to working capital that they may need . . .

. . . and you don't have to

Hello, this is DailyFunder Funding, how many I serve your 1.499 business needs?

[cruisinman]

Hello, this is DailyFunder Funding, how many I serve your 1.499 business needs?

We won't be funding at 1.499 - too much . . .

[ectorro]

We won't be funding at 1.499 - too much . . .

You better have some clean paper if you think funding anything in the 1.4's is too much...

[DonMcGrath]

Oh my G*d, the end of all things to come... the MLM of MCA?? LMAO. I can't...

You can, and you will Steve -O. I’m gonna need you to load that shotgun and throw some duct tape around that broken arm.

There’s a lot more Walking and you ain’t Dead yet.

[cruisinman]

Ran some quick #'s . . .

1.30 average factor can provide some nice residual bonuses should the defaults be <15% with an average commission @ 10%. 8% Management Fee [ shared between the Funding Entity and our Network ]

If the #'s are tight, our Brokers could realize nice $$ . . .

Seems the key is to roll back in the profits for 12 months - then start paying out the earnings each month, while keeping the principal at work on going . . .

We have a lot to learn over the next month.

I now see why TMR was on Shark Tank.

[Michael I]

Bro seriously learn the business before you start an mlm. With all due respect your other posts clearly show that your a clueless newbie

[cruisinman]

Bro seriously learn the business before you start an mlm. With all due respect your other posts clearly show that your a clueless newbie

I wouldn't say clueless, but most def new. I'm learning everyday.

We are 4 weeks from launch. With the help of our Partners, we'll be ready to go by then.

BTW - our focus will be on small businesses and Advances ranging from $10k to $50k.

[TheUnderwritingProdigy]

I wouldn't say clueless, but most def new. I'm learning everyday.

We are 4 weeks from launch. With the help of our Partners, we'll be ready to go by then.

BTW - our focus will be on small businesses and Advances ranging from $10k to $50k.

If you've never at least worked for another MCA shop, you're going to be in for a rude awakening starting your own shop...

[cruisinman]

If you've never at least worked for another MCA shop, you're going to be in for a rude awakening starting your own shop...

Why?

All we have to do is find Businesses that need working capital and get the Client's info to start the deal - our Partner(s) handle everything else.

[Franklin]

Why?

All we have to do is find Businesses that need working capital and get the Client's info to start the deal - our Partner(s) handle everything else.

There is something to be said about having a good idea, a unique plan, and just jumping in and working hard and fast.., it's incredibly rare but it does happen...

...however, the biggest issue is that when you don't know what you don't know, what do you do when those snags happen?

If your job is to simply find business and pass off to another entity to work it, in theory that's very simple... IF you have the answers to, and have solved a number of basic problems:


-Where will you source this new business?
-Can you source new business consistently
-Does your cost to source allow you to make money
-Is the business source unique and can it become quickly saturated
-Is the source of business that type your client is looking for?

-Can you grow your sources of business?


Who covers the cost of this growth (The network or each individual in the network)
Who manages distribution of these business prospects?


I'd also ask, how well do you know the funding side, and how much work have you done with them?



Who is responsible for follow up, doc chasing, paper gathering
...This is 80% of the work.


Who closes? Who closes the big and/or difficult merchants?
...This is 90% of your profits.

Who handles renewals?
...This is your recurring profits.


-Who stays on top of merchants to make sure you get paid from renewals?
-Are follow ups system based or manual?
-What is the type of industries they like, the grade of paper,
and do they have an outlet for non MCA deals?

-What do you do with merchants that don't fit their bucket?
-Are their offers competitive?



* What is the aptitude of the people handling all these different tasks? *


As the machine starts to run, now you have to start looking for inefficiencies, cracks, and leaks.

-Are you losing deals due to lack of follow up, lack of closing ability?
-Is their key staff dependable and present, or is personal drama hampering their work, and therefore your
profits? (This comes down to their company culture).
-Are merchants being missed?
-Are your deals going in one door and out the other 30 minutes later?



If I were you, I'd like answers to these questions as soon as possible, as you're growing.
















www.UccRadar.com - Post one question about funding, see hundreds of merchant responses...

[Michael I]

I wouldn't say clueless, but most def new. I'm learning everyday.

We are 4 weeks from launch. With the help of our Partners, we'll be ready to go by then.

BTW - our focus will be on small businesses and Advances ranging from $10k to $50k.

just an example . you have been asking for funders suggestion but no where did you ask that allows to you to syndicate ,yet you are building the model on that.
i wish you the best of luck and hope you do not lose to many deals to bad companies that steal in till you learn who you can trust

[cruisinman]

just an example . you have been asking for funders suggestion but no where did you ask that allows to you to syndicate ,yet you are building the model on that.
i wish you the best of luck and hope you do not lose to many deals to bad companies that steal in till you learn who you can trust

We aren't building a model on syndication - it was a thought.

But - I do like the idea. Would be a great way to create residual income for the Brokers.

We are looking for honest Partners. We have found two. Will look for a few more.

Who are 4 or 5 funders that you trust Michael?

[Bcooper]

We aren't building a model on syndication - it was a thought.

But - I do like the idea. Would be a great way to create residual income for the Brokers.

We are looking for honest Partners. We have found two. Will look for a few more.

Who are 4 or 5 funders that you trust Michael?

first mistake there is no such thing as honest or trustworthy in this industry anyone will turn on you given enough monetary incentive. i give it two weeks before your back door is wide open.

[mca2150]

I know that I know nothing
-Socrates

You don't know what you don't know
-Franklin

Both of these quotes apply directly to you cruisinman

[OC Funder]

The 3 things every broker needs is the ability to generate leads, the ability to close deals, and the relationships with funders to actually place the advances. It *seems* like currently you provide no value in any of these areas. CRMs, syndication opportunities, processing assistance, etc. are all nice but most revenue generating shops can figure those things out on their own without having to share their commission with you. If you're serious about doing this, I think you need to bring on a partner with a proven track record... figuring out syndication splits is putting the cart way before the horse.

[cruisinman]

The 3 things every broker needs is the ability to generate leads, the ability to close deals, and the relationships with funders to actually place the advances. It *seems* like currently you provide no value in any of these areas. CRMs, syndication opportunities, processing assistance, etc. are all nice but most revenue generating shops can figure those things out on their own without having to share their commission with you. If you're serious about doing this, I think you need to bring on a partner with a proven track record... figuring out syndication splits is putting the cart way before the horse.

We have the ability to generate MCA leads since our Brokers will be offering other products / services to local businesses . . .

Closing Deals is paramount to any sales process. We will be recruiting those that can sell. We just have to learn how to sell MCA's - that shouldn't be rocket science.

Syndication seems to be a great way to get an above average return. I imagine we will do it - just not out the gate.

If all the "Shops" could do this on their own - dozens of them wouldn't be soliciting ISOs on a daily basis.

[OC Funder]

If all the "Shops" could do this on their own - dozens of them wouldn't be soliciting ISOs on a daily basis.

The dozens you see soliciting ISOs on here are typically funders, and the value they're providing is the cash to advance. With that said, I've been proven wrong more times in my career than I care to count; maybe you'll be another! I wish you luck.

[Bcooper]

We have the ability to generate MCA leads since our Brokers will be offering other products / services to local businesses . . .

Closing Deals is paramount to any sales process. We will be recruiting those that can sell. We just have to learn how to sell MCA's - that shouldn't be rocket science.

Syndication seems to be a great way to get an above average return. I imagine we will do it - just not out the gate.

If all the "Shops" could do this on their own - dozens of them wouldn't be soliciting ISOs on a daily basis.

unless you have experience in this space this might as well be rocket science trying to convince someone they need to pay back a 1.499 on 30 days or some other crap offer is not easy it takes skill and understanding of how this industry and the merchants work. this is not an industry you can waltz into the average wash out rate is well over 95% ive been in this idustry for a few years and seen many people like you open up and close down within the span of a few months

[abfunders]

unless you have experience in this space this might as well be rocket science trying to convince someone they need to pay back a 1.499 on 30 days or some other crap offer is not easy it takes skill and understanding of how this industry and the merchants work. this is not an industry you can waltz into the average wash out rate is well over 95% ive been in this idustry for a few years and seen many people like you open up and close down within the span of a few months

I'll go with what Bcooper said here, it's a crazy industry, and there's a good reason why I offer so many other products, and why you should as well, which are some of things I've been referring you to. But brokering is an art, I can imagine that as an MLM it gets a bit messy. That being said, I do have a consumer finance fintech company that I have a relationship with, I know I can refer other brokers, I have a conversation with them tomorrow to remind myself how to introduce them to you. I'll hit you up with an email tomorrow.

[cruisinman]

I'll go with what Bcooper said here, it's a crazy industry, and there's a good reason why I offer so many other products, and why you should as well, which are some of things I've been referring you to. But brokering is an art, I can imagine that as an MLM it gets a bit messy. That being said, I do have a consumer finance fintech company that I have a relationship with, I know I can refer other brokers, I have a conversation with them tomorrow to remind myself how to introduce them to you. I'll hit you up with an email tomorrow.

Thanks Micah . . .

[cruisinman]

unless you have experience in this space this might as well be rocket science trying to convince someone they need to pay back a 1.499 on 30 days or some other crap offer is not easy it takes skill and understanding of how this industry and the merchants work. this is not an industry you can waltz into the average wash out rate is well over 95% ive been in this idustry for a few years and seen many people like you open up and close down within the span of a few months

We are wanting to be different and not offer anything over 1.39 with 1.30 being the average MCA deal. Target 4 to 6 month deals - maybe up to 12 months for those that qualify.

This isn't cheap money - but, peeps need it for various reasons. We just have to find those peeps.

Like I told my Reps at a few Funders - for our Network, this will either be a Hero or a Zero. We'll just have to see. But - this industry can make the right people a Million $$ with a few years of hard work and Team building.

Micah has been helpful by suggesting other products / services need to be in our quiver to make sure our Brokers are in a good position to close various deals.

[Bcooper]

We are wanting to be different and not offer anything over 1.39 with 1.30 being the average MCA deal. Target 4 to 6 month deals - maybe up to 12 months for those that qualify.

This isn't cheap money - but, peeps need it for various reasons. We just have to find those peeps.

Like I told my Reps at a few Funders - for our Network, this will either be a Hero or a Zero. We'll just have to see. But - this industry can make the right people a Million $$ with a few years of hard work and Team building.

Micah has been helpful by suggesting other products / services need to be in our quiver to make sure our Brokers are in a good position to close various deals.

those select few people are the ones offering 1.49s you need to have enough room in a deal that if it goes to legal you still have room to make money the only people more expensive than us are lawyers and if you don't have room to pay them you are SOL