[KTK]

The problem is that technology has made the sales rooms of today lazy. Everyone wants "hot leads" handed to them without putting in the work to hustle and grow a book of business.

If you were to time warp a sales floor from 20 years ago who cold called all day and throw them up against a sales floor of 2016 these guys would run circles around the new school.

I remember when I had to make 300/400+ calls a day, without sitting down or I was asked to leave. It was hard work, but I earned and it gave me the work ethic that allows me to earn. So I kind of chuckle when guys complain about the long day they put in dialing 100 calls.

You can 100% make a living cold calling merchants. It's just really hard work and no one wants to put in the time. I see it in my own office, unfortunately. That said, my guys who hammer the phones all day without complaining are the ones who have deals in underwriting right now. The guys who are complaining, they are struggling.

I love whoever brought up Cardone. I love that guy, he is a producer and he knows how to pick up the phone and EARN. His videos pump me up.

I'm not saying an inbound strategy isn't ideal, I'm just saying that what I have seen over the years is that today's average sales guy could never compare to the animals that were breed before Google took over the scene. Of course there are exceptions to both sides.

[FUNd]

The problem is that technology has made the sales rooms of today lazy. Everyone wants "hot leads" handed to them without putting in the work to hustle and grow a book of business.

If you were to time warp a sales floor from 20 years ago who cold called all day and throw them up against a sales floor of 2016 these guys would run circles around the new school.

I remember when I had to make 300/400+ calls a day, without sitting down or I was asked to leave. It was hard work, but I earned and it gave me the work ethic that allows me to earn. So I kind of chuckle when guys complain about the long day they put in dialing 100 calls.

You can 100% make a living cold calling merchants. It's just really hard work and no one wants to put in the time. I see it in my own office, unfortunately. That said, my guys who hammer the phones all day without complaining are the ones who have deals in underwriting right now. The guys who are complaining, they are struggling.

I love whoever brought up Cardone. I love that guy, he is a producer and he knows how to pick up the phone and EARN. His videos pump me up.

I'm not saying an inbound strategy isn't ideal, I'm just saying that what I have seen over the years is that today's average sales guy could never compare to the animals that were breed before Google took over the scene. Of course there are exceptions to both sides.

You could make that argument for any industry or discipline. Technology makes life and business less labor intensive in all facets, but calling people lazy because they want to use it to their advantage is going a little too far. Just because I choose not to hand dial 400 strangers off of index cards everyday doesn't make me any less of a skilled salesperson.

[Chambo]

No...they're lazy...and afraid if the phone

[FUNd]

No...they're lazy...and afraid if the phone

The next construction worker I see using a backhoe to dig a ditch I'm going to heckle as I drive by for not using a shovel.

[KTK]

Listen, I don't dial 400 calls a day either anymore. I'm just saying it can be done.

I'm just making a general statement on what I see in a sales team now VS what I have seen. People nowadays are lazier than they were. And if you are new in this business and coming up, you better go out and get yours or someone else will.

[FUNd]

Listen, I don't dial 400 calls a day either anymore. I'm just saying it can be done.

I'm just making a general statement on what I see in a sales team now VS what I have seen. People nowadays are lazier than they were. And if you are new in this business and coming up, you better go out and get yours or someone else will.

I got you. Cold calling is an extremely valuable training exercise for brand new reps. I learned by cold calling for almost 3 years. Every single day. Granted this was 2001 but I would not have half the ability I have today (not puffing out my chest here) if I skipped that experience. Just don't promise people $200K a year and tell them how easy it is to pick up the phone and convert to line your own pockets. Tell the truth.

[jotucker1983]

Listen, I don't dial 400 calls a day either anymore. I'm just saying it can be done.

I'm just making a general statement on what I see in a sales team now VS what I have seen. People nowadays are lazier than they were. And if you are new in this business and coming up, you better go out and get yours or someone else will.

I agree with you in principle but in actuality, how does someone make 400 calls a day and actually conduct real presentations (speak with merchants), "close" deals as well as manage their current sales/underwriting pipeline? I would think that if someone is actually productive, the most they could make is about 200 calls a day and even that's pushing it, 100 - 150 might be more in line.

In regards to this discussion you guys are having, I'm not sure if I even understand this conversation on if "cold calling" is still relevant today or not?

For one, "cold calling" is not a strategy, the telephone in and of itself is just a form of business communication, just like an email is, a LinkedIn inbox message is, a live visit to a merchant's location is, a letter in the mailbox is, an internet podcast is, an internet video is, a billboard ad is, a radio ad is, a TV ad is, etc.

For your "telephone communication" or "telephone marketing" to be productive and profitable, it's going to depend upon what the hell your business strategy is.

- If you are randomly calling merchants out of the Yellow pages, you are going to get a very low conversion rating and it's going to be very difficult to build an efficient sales pipeline to survive.

- If you research your merchants prior and target segments that can more than likely utilize your services, then your conversion from data record to lead is going to be a lot more efficient.

The problem with telephone marketing is when people are hired in bulk, thrown against a damn wall and told to randomly call people out of a phone book. These folks do nothing but clog up telephone lines and exit the industry within 45 days having made hardly nothing, because the "rah rah" speech they were sold on wasn't backed up by ANY company resources, data, nor research to help bring it to fruition.

Cold calling is not a strategy, it's just a form of communication. The question comes down to WHO do you cold call and WHAT do you cold call them about? That's what your business strategy is supposed to line out.

[KTK]

I agree. I am simply making a point that you can build a business for yourself in this industry by hitting the phones, and only hitting the phones. No, of course you can't maintain 400 calls a day once you have a pipeline of follow ups and a book of business, I never said you could. In fact I did mention I no longer do that either. I did, and I did well, but I don't have to anymore. And yes, a strategic placement of phone numbers in front of the phone is super important.

I just firmly believe if you put forth the effort, and hammer that phone you can build yourself a business. It's about drive, motivation, and work ethic. Some won't like to hear it, but my experience is that the new school of sales guys are soft in comparison to those that didn't have FB ads, Adwords, email marketing, and all that when coming up. This industry or any. To much of "the leads are no good" after dialing 50-100 dials. Come on, give me a break. People just don't have the drive. Not everybody, but a lot of them. They want to pick up the phone and have guys begging them for a 6 month 1.40 and make 12 points. It takes a lot of hard work to get the job done and earn in this business. That's all I'm saying. And I'm obviously not talking at or to any of you, I have no clue who you are, what you do or how you do it. It's just a generality on some of the stuff I see personally.

I've had days where I make 10 calls and make $10K, and days where I've dialed 300 and made ZERO. It's all about drive and determination. Plus a lot of my big deals, and especially the cleaner zero position deals come from inbound marketing too. I'm not a phone slave driver but I do feel you can build your business in anyway you want, as long as you are dedicated to building your business just as much as the merchants we are funding were when they started. Guys that work on the phone think of this as a job. It's not, you too are building a business for yourself. You need to act like it, stop clocking out at 5pm, and put in the work that anyone else would when building a business. Weather it's through Google, FB, emails, or the good old fashioned telephone.

[FUNd]

I agree with you in principle but in actuality, how does someone make 400 calls a day and actually conduct real presentations (speak with merchants), "close" deals as well as manage their current sales/underwriting pipeline? I would think that if someone is actually productive, the most they could make is about 200 calls a day and even that's pushing it, 100 - 150 might be more in line.

In regards to this discussion you guys are having, I'm not sure if I even understand this conversation on if "cold calling" is still relevant today or not?

For one, "cold calling" is not a strategy, the telephone in and of itself is just a form of business communication, just like an email is, a LinkedIn inbox message is, a live visit to a merchant's location is, a letter in the mailbox is, an internet podcast is, an internet video is, a billboard ad is, a radio ad is, a TV ad is, etc.

For your "telephone communication" or "telephone marketing" to be productive and profitable, it's going to depend upon what the hell your business strategy is.

- If you are randomly calling merchants out of the Yellow pages, you are going to get a very low conversion rating and it's going to be very difficult to build an efficient sales pipeline to survive.

- If you research your merchants prior and target segments that can more than likely utilize your services, then your conversion from data record to lead is going to be a lot more efficient.

The problem with telephone marketing is when people are hired in bulk, thrown against a damn wall and told to randomly call people out of a phone book. These folks do nothing but clog up telephone lines and exit the industry within 45 days having made hardly nothing, because the "rah rah" speech they were sold on wasn't backed up by ANY company resources, data, nor research to help bring it to fruition.

Cold calling is not a strategy, it's just a form of communication. The question comes down to WHO do you cold call and WHAT do you cold call them about? That's what your business strategy is supposed to line out.

Well put John +1. I'd like to know how many calls the advocates for cold calling on this thread are making everyday PERSONALLY, or are they behind the glass emailing out call time stats all day to a team of kids? There is a huge difference. I find the biggest cold calling advocates are the guys who don't have to make them.

[anonymous]

You guys can't be serious.

[FUNd]

You guys can't be serious.

Anon, what leads you to believe we aren't serious? You are obviously having great success with cold calling somehow, so congrats, but dont disparage our opinions by dismissing them as some kind of joke. I call it like I see it.

[kevinkim]

I would be willing to take you on as and ISO. Provide me with your e-mail for details.

[FUNd]

I would be willing to take you on as and ISO. Provide me with your e-mail for details.

Pass.

[anonymous]

Anon, what leads you to believe we aren't serious? You are obviously having great success with cold calling somehow, so congrats, but dont disparage our opinions by dismissing them as some kind of joke. I call it like I see it.

fair enough

[Franklin]

calling my inbound leads now. Later! :d

lol

[Alleon Healthcare]

If you come across any medical clients who want an ongoing line of credit or factoring facility based on AR, let me know.

[HFS]

Any ideas on who would pick up a new iso?
CAN?
Windset?
Fora?
IOU?
Ondeck?
FundingStream?
Rapid?
BFS?

Any ideas on who is a larger lender that I can get on with. I should be able to push 750k in volume monthly because of my book of business.

844.344.7420 Ask for Giacomo.

[TheShitzuofMCA]

Whats up Giacomo hope your good bud!

[HFS]

No...they're lazy...and afraid if the phone

amen

[HFS]

Whats up Giacomo hope your good bud!

Things are going great! Cant complain. Congrats on the new COO!

[getitfunded]

This kid will never use Daily Funder again haha.

[smurf]

I can tell you cold calling works!!!. There are call center companies with NO Websites filled with 50 people packed in rooms in such places like the Dakotas bringing in apps all day long..FACT!!!

can you recommend some to me? I am looking for a good call center

[Paz]

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[PathwaySam]

30-80K$$

subs@pathwayfunding.com

[Clarity Advance]

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