[kbriggs@pbscapital.com]

for the short time i've been in the business, i know that if a person does'nt really want a advance you'll never get his info no matter how many times you call. I usually stayon the phone and send the email while talking to client. get him to open it and real time if he has done this before its just a simple forward to you, and you got docs!

[Sean Cash]

So did you decide to start keeping all of the good leads for yourself, and sell us all the dog crap smh. (not that I didn't know this was going on)

I think Blindbid was just trying to start a lively conversation, not come up with ways to keep the good leads for himself.

[FUNd]

70% of the time, a rep isn't selling anything. He/she is next in line, and the timing is good. This is money, not a new widget with moving parts that needs a ton of customer education and explanation. People already know how extra capital benefits them. It pains me to see some reps patting themselves on the back so hard when it's obvious most of their clients are lay-downs. Your sales may be a product of good marketing and organization, and not your uniquely irresistible personality and closing skill. Remember that. You're not the Wolf of Wall Street. You're not even Jonah Hill.

I need more coffee.

[getlikwid247]

You obviously dont have much success on the phone or you just love to read what you say .....give me all of your leads and I will show you how much better my "timing" is

[FUNd]

You obviously dont have much success on the phone or you just love to read what you say .....give me all of your leads and I will show you how much better my "timing" is

You must be one of those reps.

[Franklin]

You obviously dont have much success on the phone or you just love to read what you say .....give me all of your leads and I will show you how much better my "timing" is

A study at Kenan-Flagler Business School at the University of North Carolina was done about a year ago. It concluded that 4 out of 5 B2B decision makers in the United States – that’s 80% – absolutely, positively will not buy as the result of cold calling.

Another survey indicated that that about 11% of small biz owners are looking for capital or access to credit at any given time. Given the fact that only about 1 out of 5 small businesses in this country count as an ideal qualified lead (doing at least 15K - 20k a month), the rest are start ups, work from homes, and have under to 10k to 0 revenue monthly, there's about 500,000 ideal businesses at any given time looking for capital that might work for the mca industry.
(keeping in mind that every month, thousand of businesses close their doors, while new businesses open up), so those 500,000 slightly differ month to month.

This is before taking out good credit merchants with good collateral, sales volume who don't need high rate money. You better believe timing does play a factor.


The skill part comes into play when getting a merchant to believe in you, your credibility in regards to being the one that can solve his immediate problems. Your ability to show you know more than him and are worth his valuable (to him) time .


Now of course, if you are Mark Cuban and you call one of these business to make a loan/investment in, his level of influence will blow away the timing and skill factor, but not a lot of people have that level of influence that would tip a cold call their way to that extent.



-Timing-

The study was based on a group of 50 experienced and qualified salespeople, who made a total of a whopping 6,264 phone-based cold calls over a two week period.


Here’s how it turned out:


– 72% of the calls were outright rejections. People saying “no way,” hang-ups, and so on.

– 28% of the calls were labeled as “productive.” These were people who didn’t hang up right away, showed some interest, gave a referral, asked to be called at a later time and so on. But what’s most interesting is that the majority of the two week study period was spent working on and following up with this 28% of the list. The time that went into it was extraordinary, and very eye-opening when you see the final results.

– That 28%, totaling 1,774 calls, resulted in 19 – yes, that’s NINETEEN – appointments. Out of a total of 6,264 cold calls made!

– The success rate of cold calls to appointments is 0.3% (based on the average closing rate of 20%, that would equate to just under 4 sales, from 6,264 cold calls).


Now that you’ve heard the horrific numbers experienced during the study, here is the conclusion drawn from it:

Experienced salespeople can expect to spend 7.5 hours of cold calling to get ONE qualified appointment, according to their test.


--

These numbers are consistent with my marketing results as well when dealing with cold b2b. The only difference is my system takes those 6,624 business records and identifies the 19 prospects looking for money now, and then connects you to them.

[Sachip24]

im still fairly new to this industry but not sales. I was always taught sell yourself be confident and the product if its legit will sell itself. People like doing business with people they like whether they need "x" product or not.

[fundgorilla]

I prefer to send emails and never speak to humans at all. Documents come in, I forward those, send more emails, collect more emails. I could almost write an algo to do it for me.

[Chambo]

I prefer to send emails and never speak to humans at all. Documents come in, I forward those, send more emails, collect more emails. I could almost write an algo to do it for me.

But I bet you want to charge an additional fee for all that hard work, right?

[ADiamond]

But I bet you want to charge an additional fee for all that hard work, right?

that and probably wants to white label the contracts to appear as the funder like most other paper pushing brokers

[fundgorilla]

Naah, I'm a straight dealer, but I have found that emailing saves a lot of carpal tunnel.

[YuliyaG]

What I see working fantastically well is the following workflow…

1. Merchant applies at site.

2. Merchants’ banking information is pulled and math is run to evaluate:

· Number of deposits.

· Deposit average.

· Negative days.

etc…

3. If merchant passes that banking filter they arrive at a screen with info on following steps.

4. On this screen they are promoted to either

· Upload their remaining docs.

· Take an MMS (multi media message) photo and send them to a specified text number.

5. Software keeps a tally on what docs are remaining.

6. ISO logs into back-end to view the docs, statements, etc. and determines which funder to send them to.

7. If the merchant doesn’t complete any of the steps (misses paper) then they get repeated automated messages; “don’t forget to submit XYZ document.”


Result = MORE TIME FOCUSING ON PROPER PLACEMENT AND PITCHING OFFERS. Extracting pieces of paper should be minimized to the extent possible as it is 2015.

That same file that took you a week to get statements, now is in final underwriting in that same time frame… time is money.

If anyone is interested in turning their site into a professional – automated, fancy, schmancy financial services technology site without spending an arm and a leg to get it up and running, message me!

[SCP]

Now, before I ask you to send back your application and statements, do you have anything that would possibly hold you back from accepting the loan we just spoke about?"[/I]

Works for me.

Love this Zach, I instill something similar. Verbal contracts are incredibly important and underutilized. "If I, would you" has been a tried and true verbal contract for me over numerous years