I am looking to jump in this field..
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  1. #1

    I am looking to jump in this field..

    I have great negotiation skills and have worked in the commission field over 15yrs. I am looking to see if there is any advice anyone can give me as to where to start looking and what to look for..any information will help and be greatly appreciated.

    thanks!!

  2. #2
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    Welcome to the field of dreams. Dreams of big commissions, excellent leads, and great partner relationships.

    Many people will tell you turn back now as there is no use in coming into a space that is overcrowded and under-supported (not by capital- we have lots of that if you have the right deals). Lead acquisition in our space right now will leave you struggling to stay afloat. You will spend a lot of money and you will not* get the initial training and support needed to know how to communicate on the different industry levels. Knowing your "Clients" are well versed in their field but not organizing their finances/books is the number one thing you need to know when wanting to come in this space. You will be talking to all walks of life with businesses that range from transporting tomatoes to a cleaning companies. You need to understand how each industry takes in receivables and their overall profitability for their products/services. It is easy for someone to say "Yes, I need money for my Business"- but the way you relate and communicate will make all the difference in coming into this field at this time.

    Originations via phone, online ads, phone, radio, etc. are expensive and you really need to focus in on a niche market of "need". Right now- no one has done that successfully and captured that "untapped" market (if that exists somewhere?!) You see, there are thousands of entities, logos, and websites out there that say the same thing but not one overall connection to a Business Owner in understanding that this industry is very small, there are few programs tiered to them, and qualifying to one "entity" may not give them the options they expect. MCAs/Business Advances are one thing- but you will have Clients that need more solutions for inventory, AR, equipment, and now- consolidation of balances. You need to learn how to qualify, what to request based on the answers, what programs they fit into, and give an expectation of process.
    Last edited by WhoisKingsley; 09-20-2016 at 01:29 PM.
    Amanda Kingsley
    DailyFunder: WhoisKingsley
    This is me. https://www.facebook.com/whoiskingsley
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    Always Live and Lead with Integrity.

  3. #3
    Your information was great!! Is there any way possible to sit down with you to ask you more questions in detail if you are available? I am located in New Jersey and would not be an issue for me to meet you in New York.

  4. #4
    Senior Member Reputation points: 5110 LJH365's Avatar
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    Bravo Amanda. Your reply to this newcomer was so thoughtful and perfectly stated.

    Bigtyme- the best way to learn the business is to join a shop (you'll never be able to pull it off just jumping in on your own). There are many in NYC and (ahem) a few in NJ. If you PM me I will tell you the ones to NOT work for.

  5. #5
    Quote Originally Posted by BIGTYME973 View Post
    Your information was great!! Is there any way possible to sit down with you to ask you more questions in detail if you are available? I am located in New Jersey and would not be an issue for me to meet you in New York.
    You're in good hands with Amanda.

  6. #6
    Senior Member Reputation points: 32550 Funder Mark's Avatar
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    Quote Originally Posted by cardinalequity View Post
    You're in good hands with Amanda.
    Aren't you two working together?

  7. #7
    Amanda all i can say was your information is priceless... I greatly appreciate the time tou spent going over items with me and the level of professionalism you act with goes unmatched.

  8. #8
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    Quote Originally Posted by WhoisKingsley View Post
    Welcome to the field of dreams. Dreams of big commissions, excellent leads, and great partner relationships.

    Many people will tell you turn back now as there is no use in coming into a space that is overcrowded and under-supported (not by capital- we have lots of that if you have the right deals). Lead acquisition in our space right now will leave you struggling to stay afloat. You will spend a lot of money and you will not* get the initial training and support needed to know how to communicate on the different industry levels. Knowing your "Clients" are well versed in their field but not organizing their finances/books is the number one thing you need to know when wanting to come in this space. You will be talking to all walks of life with businesses that range from transporting tomatoes to a cleaning companies. You need to understand how each industry takes in receivables and their overall profitability for their products/services. It is easy for someone to say "Yes, I need money for my Business"- but the way you relate and communicate will make all the difference in coming into this field at this time.

    Originations via phone, online ads, phone, radio, etc. are expensive and you really need to focus in on a niche market of "need". Right now- no one has done that successfully and captured that "untapped" market (if that exists somewhere?!) You see, there are thousands of entities, logos, and websites out there that say the same thing but not one overall connection to a Business Owner in understanding that this industry is very small, there are few programs tiered to them, and qualifying to one "entity" may not give them the options they expect. MCAs/Business Advances are one thing- but you will have Clients that need more solutions for inventory, AR, equipment, and now- consolidation of balances. You need to learn how to qualify, what to request based on the answers, what programs they fit into, and give an expectation of process.
    Razor sharp analysis. (Legal) Lead acquisition while playing in-bounds (honesty, transparency) is almost impossible on any scale with a small budget to grab any substantial or sustainable market share.
    Last edited by FUNd; 09-24-2016 at 07:39 PM.

  9. #9
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    Quote Originally Posted by Funder Mark View Post
    Aren't you two working together?
    We've worked together for a long time. Unfortunately, distance plays a HUGE part when you're operations are on Wall Street but I am running around Florida. It doesn't mean we don't work together in certain ways. Cardinal manages a lot of syndication portfolios and other things I tie into.

    and TY everyone for the feedback! I really want to help and put more content/training out there...
    Amanda Kingsley
    DailyFunder: WhoisKingsley
    This is me. https://www.facebook.com/whoiskingsley
    I am Here too. https://www.facebook.com/groups/TheClosersGroup

    Always Live and Lead with Integrity.

  10. #10
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    Quote Originally Posted by WhoisKingsley View Post
    Welcome to the field of dreams. Dreams of big commissions, excellent leads, and great partner relationships.

    Many people will tell you turn back now as there is no use in coming into a space that is overcrowded and under-supported (not by capital- we have lots of that if you have the right deals). Lead acquisition in our space right now will leave you struggling to stay afloat. You will spend a lot of money and you will not* get the initial training and support needed to know how to communicate on the different industry levels. Knowing your "Clients" are well versed in their field but not organizing their finances/books is the number one thing you need to know when wanting to come in this space. You will be talking to all walks of life with businesses that range from transporting tomatoes to a cleaning companies. You need to understand how each industry takes in receivables and their overall profitability for their products/services. It is easy for someone to say "Yes, I need money for my Business"- but the way you relate and communicate will make all the difference in coming into this field at this time.

    Originations via phone, online ads, phone, radio, etc. are expensive and you really need to focus in on a niche market of "need". Right now- no one has done that successfully and captured that "untapped" market (if that exists somewhere?!) You see, there are thousands of entities, logos, and websites out there that say the same thing but not one overall connection to a Business Owner in understanding that this industry is very small, there are few programs tiered to them, and qualifying to one "entity" may not give them the options they expect. MCAs/Business Advances are one thing- but you will have Clients that need more solutions for inventory, AR, equipment, and now- consolidation of balances. You need to learn how to qualify, what to request based on the answers, what programs they fit into, and give an expectation of process.
    Steve Davis from yellowstone capital caught that market. The guy probably makes the most $ in this industry.

  11. #11
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    I am looking to jump in this field..

    ^ you got that right

  12. #12
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    Quote Originally Posted by Anthony@yellowstone View Post
    ^ you got that right
    that goes without saying
    Andrew J. McDonald
    Director of ISO Development
    Yellowstone Capital LLC
    1 Evertrust Plaza
    Suite 1401
    Jersey city, NJ 07302
    PH - 347.464.0785
    FX - 646.213.1790

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    How did you get to a thread from back in September?

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