[YuliyaG]

Last year while I was working with a FinTech startup I suggested to the CEO that the focus should be acquiring processing accounts first - merchant cash advance leads would follow.

He wasn't interested at the time but I wanted to share with some of you newer brokers why this would make sense.


A Leading Indicator

For example you get 100 processing accounts. Each month you get a monthly commission breakdown for each account. Then you start to see accounts decline. You go from earning $500 / mo per account to $400 / mo for any group of accounts.Accounts that have seen a decline in business should be targeted. I say this because MCA seems to be a timing sale and most businesses who take the product have made a mistake or two and could use the cash to correct the mistake, if not as a band-aid. So by using your processing account portfolio as a gauge you will be able to time your approach while actually making money in the process...

Feast or Famine

Most brokers cannot afford a bad month. Having a processing portfolio can come in handy for this reason... I pitched processing accounts focus for this reason...

Anyway, just thought I would share. If you're interested in learning how to take processing accounts from merchants like a Baby, I'll cover it on the next training I am holding.

[WhoisKingsley]

How many companies/programs/divisions do you and Jay have?

[YuliyaG]

How many companies/programs/divisions do you and Jay have?

Hey Girl!

I am an independent and educated (2 MBAs) woman living in the 21st Century. Just like you.