[FUNd]

No way! Try it. Works great.

It's a BUSINESS matter of a PERSONAL nature... thank you...

Cool, what's your interest rate?

[bsmith]

"Bob, please"

What is this in reference to?

"It's a business matter of a personal nature"

I see what you did there

[Zach]

Cool, what's your interest rate?

1. This is a non-amortizing loan product with a set cost built into it, which can be extremely affordable. We will compare the profit you generate against the cost of the loan and make sure it will benefit your business.. and that's what you're looking for, right? Ok, so here's what I need to get started today... (***the WBL product is usually amortizing, so only applies to brokers)

2. We have rates as low as 5.9% (assuming I am a broker with access to Fundingcircle). How's your credit?

3. Great question, let's see what you qualify for, how much do you deposit each month into the business bank account?

[FUNd]

1. This is a non-amortizing loan product with a set cost built into it, which can be extremely affordable. We will compare the profit you generate against the cost of the loan and make sure it will benefit your business.. and that's what you're looking for, right? Ok, so here's what I need to get started today... (***the WBL product is usually amortizing, so only applies to brokers)

2. We have rates as low as 5.9% (assuming I am a broker with access to Fundingcircle). How's your credit?

3. Great question, let's see what you qualify for, how much do you deposit each month into the business bank account?

Thank you Zach, but EVERYONE wants to loan me money, as demonstrated by the number of calls I get everyday. I'm in demand, and so is my company that brings in $9,500 in deposits a month along with my 520 FICO score. The other day a robocall said I qualified for $250,000 at 1% interest. I appreciate your time, but 5.9% is way too high.

[bsmith]

1. This is a non-amortizing loan product with a set cost built into it, which can be extremely affordable. We will compare the profit you generate against the cost of the loan and make sure it will benefit your business.. and that's what you're looking for, right? Ok, so here's what I need to get started today... (***the WBL product is usually amortizing, so only applies to brokers)

2. We have rates as low as 5.9% (assuming I am a broker with access to Fundingcircle). How's your credit?

3. Great question, let's see what you qualify for, how much do you deposit each month into the business bank account?

If this phone call is of a personal nature, why are you telling me all this?

[Zach]

If this phone call is of a personal nature, why are you telling me all this?

You don't tell the gatekeeper the "what is your interest rate" rebuttal lol

[dailyPLUNDR]

"Bob, please"

What is this in reference to?

"It's a business matter of a personal nature"

Can't tell if this is serious haha

[PC Cooper]

I am being completely genuine when I say, "That is the single greatest piece of advice in the history of Daily Funder."

I agree. Nothing sells better than intelligence. Even if it's all a facade based on the use of polysyllabic words and unique and rare synonym's, a merchant who perceives you as equal or of higher intelligence to their own self perceived intelligence is already halfway there. Nothing kills a deal faster than some troglodyte wrighting lik this.i cant stand wehn they dont know what the purpos of a comma or an aprostrophe or propoer spacing or when to end a sentence or that spel chek exists.........There should be an equivalent to Mensa, but for schmucks.

[admin]

Due to the insane length of this thread and others, the amount of posts displayed per thread has been increased from 10 to 25 so that people don't have to keep clicking the next page button so often

[FUNd]

Due to the insane length of this thread and others, the amount of posts displayed per thread has been increased from 10 to 25 so that people don't have to keep clicking the next page button so often

God bless you Admin. And may God bless the United States of America. #MakeAmericaGreatAgain

[bdshaw]

This is the best thread I've read here and thanks to all who have participated.
No one has stressed having a good knowledge of alternative means of financing. Quite a bit
of my referrals come from posts on the DF, including some who have commented on this thread.
I'm our case that would be Asset Based Loans generally in the mod 6 to med 7 figure range. That means an ISO/ broker has recognized the the customer"s real need is something other than an Advance. It could be a mortgage, equipment lease or any other means of financing.
I'm sure that a great number of this thread's participants understand this and not leaving money on the table. However, how many companies take a brief amount of training time to teach this? My experience is very few.
Bon

[bdshaw]

Please note I have not changes my name to Bon.
ooooops

[FUNd]

Please note I have not changes my name to Bon.
ooooops

Sure Bon, keep telling yourself that. BTW, it's been a slow lead day over here, I think YSC purposely depleted my AdWords budget, I'm looking at you Andy. Nah j/k, some days are like this and I can hang out and spit nonsense all over DF.

Anyway, Bon, I think people who stock shelves at Walmart get more training than the average B2B finance rep.

[SCP]

Zach, I've yet to see this thread until just now! Thanks for creating it brother. I'll be staying plugged in and contributing with what's been successful for our reps when I have spare time. Cheers - Ryan

[KTK]

Admin - solid move!

[bdshaw]

FUNd, give me 10-15 minutes and I will give them enough information to catch about 80% of what they see.
I'll also show them how a 200k deal may end up many times that.
Bon(b)

[Zach]

Zach, I've yet to see this thread until just now! Thanks for creating it brother. I'll be staying plugged in and contributing with what's been successful for our reps when I have spare time. Cheers - Ryan

You know I got your back! Let me know if you'd like me to expand on any specific topics.

[Zach]

This is the best thread I've read here and thanks to all who have participated.
No one has stressed having a good knowledge of alternative means of financing. Quite a bit
of my referrals come from posts on the DF, including some who have commented on this thread.
I'm our case that would be Asset Based Loans generally in the mod 6 to med 7 figure range. That means an ISO/ broker has recognized the the customer"s real need is something other than an Advance. It could be a mortgage, equipment lease or any other means of financing.
I'm sure that a great number of this thread's participants understand this and not leaving money on the table. However, how many companies take a brief amount of training time to teach this? My experience is very few.
Bon

I agree, having a vast breadth of knowledge of what financial instruments are out there is one of the most valuable tools in a salesperson's arsenal. Being able to place a factoring deal, equipment lease, or hard-money transaction efficiently (key word efficiently) allows you to stand out from the horde of brokers who only have access to cash advance and MAYBE Fundingcircle.

[Zach]

TIP #476:

A confident verbal delivery of information will ensure that you are taken more seriously. Stop with your long pauses, putting people on hold while you research an answer to their question, "UMMMMM's", and other nervous twitches. Be knowledgeable and sound knowledgeable. If they can't feel confident working with you, they won't. Period.

[Matrix1]

So happy I used the advanced search bar and found this post/thread. This is exactly why I joined and am glad to see all of you participating positively. There definitely needs to be more posts like this

[Enablement Data]

How many other annoying companies are calling you asking if you want to borrow money?

Best line ever. Not only will it bring their guard down but will give you a good lead in to say "We're not like most companies."

EVERY company says "We lend based on revenue" or "there is no interest rate" yada yada yada.

Take a different route by bringing down the defensive wall the owner has!

[Zach]

How many other annoying companies are calling you asking if you want to borrow money?

Best line ever. Not only will it bring their guard down but will give you a good lead in to say "We're not like most companies."

EVERY company says "We lend based on revenue" or "there is no interest rate" yada yada yada.

Take a different route by bringing down the defensive wall the owner has!

In a similar vein, my standard response has been something along the lines of "I understand you get bombarded by phone calls every day, don't you? This isn't one of those calls." Then just proceed as normal. It's like a jedi mind trick... "These are not the droids you are looking for." = "This is not one of those calls."

With proper inflection and a direct tone, that line, as simple as it may seem, has a very high conversion rate.

[JD-Strategic]

let's bring this thread back from the grave since it's useful

[Karen37a]

#1 Set the tone of the day by starting off with a "positive mindset" one of "positive expectancy" ...listen to positive tapes or music in the am going to work or driving thru traffic

#2 Pick up that phone hell or highwater by 8:30

#3 Phone calls

a)Stay upbeat and friendly or matter of fact

b) Breakthru the gatekeeper ( practice this over and over...master this ) As you get stronger you will get to more high net worth individuals.

c) you have 30 seconds to capture their attention and make them listen to you..., then you get to the meat of the "pitch" establish yourself as someone of value

d) Pre Qualify the merchant without scaring him off or treating him like he is going thru a negative question and answering session

e)Find out when and where he needs money

( the pen selling example in the wolf of wall st movie is off and wrong. If the guy wants a black pen, you can sell him a red pen until you are blue in the face. Learn to qualify correctly)

F) Move on to step 2...Get the Documents and application sent in

[Karen37a]

Breaking thru the Gatekeeper

He who wins the argument loses the sale

learn how to be nice while still being forceful ...getting to your goal ABC always be closing

Learning quickwitted rebuttals may be cute but they really do not work.

if you get stuck ask a question with a question

Merchant " I am not interested"

do not say...give me a chance to show you what I can do , your best friend was a stranger at one time

say...What exactly are you not interested in?

( whatever you have to say)

What exactly do you mean by that?

etc etc etc ....until I don't trust you, too much money

next step Close ( stick to the script on closing lines ) ...checkmate

** never "I can beat the rate and by the way...we are a direct lender!"


Get thru the Gatekeeper to engage....1000 messages or emails from different people will not make him choose your voicemail/email over another.