[WestCoastFunding]

West... Again. Unintelligent. I was speaking to a person in sales. Who posted he left the industry a long time ago. Quite obviously DF has many industry insiders who do not sell that offer tremendous value. Most of which provide much more value than someone in sales.

Very poor job attempting to take a snippet or sideways assumption to carve it into something Shawn would take personal offense to. If you are in sales, I hope you use a script, pitch book, or something. If you freelance, you are financially starving with little kiddie attempts like above. Find a mentor and protect yourself.

You mean, Sean, right?

[Karen37a]

West there you go again with you trying to poke at someone.

Good thing I outdebated you so you flipped out instead of me. lol

[OF_Funder]

...

[Karen37a]

For the newbie asking the original question. Welcome to Sales ! Welcome to the industry See you at the top....

Imagine a 150k advance with 10 brokers pulling on it...

who gets the sale?....

me that's who, who put this thing together , me that's who, who do I trust , Me...T.Montana

[WestCoastFunding]

Commenting on something a cell phone "auto-corrected" and ignoring the fact that you need a mentor to present yourself in public or sales.... pretty much makes it conclusive. Scram.

How is this coherent?

[WestCoastFunding]

For the newbie asking the original question. Welcome to Sales ! Welcome to the industry See you at the top....

Imagine a 150k advance with 10 brokers pulling on it...

who gets the sale?....

me that's who, who put this thing together , me that's who, who do I trust , Me...T.Montana

I'd recommend they look at marketing from 2017 standards. Business owners in-need of financing aren't waiting around for cold-callers selling cash advances.

[HDF]

I'd recommend they look at marketing from 2017 standards. Business owners in-need of financing aren't waiting around for cold-callers selling cash advances.

And you nailed it.

[Karen37a]

Anyone want to come to my office and see me and my top brokers cold call off of UCCs and close sales on a bet $$ ??Bring money.

It can be a daily funder experiment.I can get 5 leads on 30-50 dials, and 20 leads close 1.I can do it..and Ive done it over and over and over on many bets..gets tiring. Think what you will.I know this a waste of time.
( and I do not do 3rd 4th positions etc, did a 3rd once for an emergency)

People have to live in their excuse ridden world..get back to the backdoor fighting, blah blah regulation

Think what you will. That's the difference between top closers and the guys who cant make it.

I need to make it myself to complete stability/coasting or die trying...see you soon. Let me know if you bet

[jotucker1983]

Lol, boy this thread is a mess. OF_Funder must have been having a bad week or something and just wanted to rant. Maybe that's why he kept posting then immediately deleting his posts?

But getting back to the topic of sales, Karen let's discuss your proposal again:

Anyone want to come to my office and see me and my top brokers cold call off of UCCs and close sales on a bet $$ ??Bring money.

It can be a daily funder experiment.I can get 5 leads on 30-50 dials, and 20 leads close 1.I can do it..and Ive done it over and over and over on many bets..gets tiring. Think what you will.I know this a waste of time.
( and I do not do 3rd 4th positions etc, did a 3rd once for an emergency)

Karen, UCCs are nowhere near as productive as they used to be, and with your estimated production results, you don't seem to be painting the complete picture. Let's break this down:

- You call 200 UCC data records
- You generate 20 "interested" merchants
- You generate 1 "close"

By "close" I assume you mean you collected an application? Or by "close", do you mean that's a funded deal?

Here have been my results on UCCs since about 2015 when EVERYBODY started calling them:

- I do a call rundown on 100 UCC data records

- I will generate about 12 interested merchants because many merchants flat out slam the phone down on your face today because you are the 7th guy that called that day about a damn "cash advance", and he's getting tired of it.

- Of those 12 interested merchants, after pre-qualifying them (what you guys refer to as ISO Underwriting) only about 5 of them pass that pre-qualification. The rest are stacked to high heaven hell, NSFS/Overdrafts through the roof, bad credit, etc., etc.

- Of the 5 that pass, I collect complete applications from 4 of them

- Of the 4 submitted to Underwriting, 2 are approved

- Of the 2 that are approved, 1 funds

1 fund out of 100 calls to UCC records is not a sustainable strategy for any Broker Office today.

Brokers have to utilize other marketing strategies today as UCCs are DEAD. Plus understand something, many companies are not even filing UCCs on the good/quality merchants anymore, many companies are only filing them on the "bad" or "higher risk" merchants, which further delimits the quality of UCC marketing.

[Michael I]

Lol, boy this thread is a mess. OF_Funder must have been having a bad week or something and just wanted to rant. Maybe that's why he kept posting then immediately deleting his posts?

But getting back to the topic of sales, Karen let's discuss your proposal again:



Karen, UCCs are nowhere near as productive as they used to be, and with your estimated production results, you don't seem to be painting the complete picture. Let's break this down:

- You call 200 UCC data records
- You generate 20 "interested" merchants
- You generate 1 "close"

By "close" I assume you mean you collected an application? Or by "close", do you mean that's a funded deal?

Here have been my results on UCCs since about 2015 when EVERYBODY started calling them:

- I do a call rundown on 100 UCC data records

- I will generate about 12 interested merchants because many merchants flat out slam the phone down on your face today because you are the 7th guy that called that day about a damn "cash advance", and he's getting tired of it.

- Of those 12 interested merchants, after pre-qualifying them (what you guys refer to as ISO Underwriting) only about 5 of them pass that pre-qualification. The rest are stacked to high heaven hell, NSFS/Overdrafts through the roof, bad credit, etc., etc.

- Of the 5 that pass, I collect complete applications from 4 of them

- Of the 4 submitted to Underwriting, 2 are approved

- Of the 2 that are approved, 1 funds

1 fund out of 100 calls to UCC records is not a sustainable strategy for any Broker Office today.

Brokers have to utilize other marketing strategies today as UCCs are DEAD. Plus understand something, many companies are not even filing UCCs on the good/quality merchants anymore, many companies are only filing them on the "bad" or "higher risk" merchants, which further delimits the quality of UCC marketing.

Huh .It is easy to call a hundred a day . So on your math,you fund 22 deals a month .average deal size let's say 40k . Average commission let's say 10 % . You are making 88k a month.more then most make in a year

[HDF]

Huh .It is easy to call a hundred a day . So on your math,you fund 22 deals a month .average deal size let's say 40k . Average commission let's say 10 % . You are making 88k a month.more then most make in a year

Not sure you can assume a 40k handle on a UCC data respondent that is stacked to the gills. 15K might be a better estimate overall. IMHO

[Michael I]

Not sure you can assume a 40k handle on a UCC data respondent that is stacked to the gills. 15K might be a better estimate overall. IMHO

OK so making over 30k a month

[jotucker1983]

Huh .It is easy to call a hundred a day . So on your math,you fund 22 deals a month .average deal size let's say 40k . Average commission let's say 10 % . You are making 88k a month.more then most make in a year

Some notes on your response:

- When you're a one man shop that has to "do it all", you have to juggle a lot of aspects that makes it difficult to run through 100 - 200 calls a day, especially when you actually have a real Pipeline and Underwriting Queue.

- 10% commission is a little out of the ballpark to be competitive. I've done deals at 10%, but the vast majority are 2% - 5%.

I would say if a guy bought 10,000 UCC records for the entire year and he's a one man shop having to juggle everything, this might be his results from the 10,000 records:

* He is able to call through the entire list 2 times over 12 months

* He generates 700 interested merchants after both runs (I'm changing my number from earlier, after reviewing it, I believe it was too high, this range is more realistic with the status of today's UCC records)

* 70% of the interested merchants can't be funded, that's 490. Either they are stacked too high, NSFs/Overdrafts too high, bad credit, etc. That leaves 210 that pass pre-qualification.

- Of the 210 that pass, he collects 168 complete applications

- Of the 168 applications, 84 are approved

- Of the 84 approved, 40 close

- Of the 40 that close, average new deal commission is $900 or $36,000 in total

- Of that $36,000 he has to take out the cost of buying the UCC records, cost of his dialer, cost of his website, cost of his telephone system, and other costs, that might total $8,000 leaving him with $28,000 remaining before taxes.

He better have a good renewal portfolio or to be honest, he could pursue better opportunities elsewhere.

[HDF]

This is terrific.

This guy is worried about trolls and poor reflections on the industry. Has a real soft spot for the "excited new blood" looking to enter. Meanwhile he can't help but represent himself (the industry) as the exact parody of what outsiders think of it.

So this guy is fighting against trolls? He trolled the hell out of me on PM. Says I have multiple aliases. Told me how well he does and wanted to compare financials. Says he's smarter than us, yet looks the fool the more he types. Then deletes.

So worried about the poor impressionable youngsters yet sits (his word) "lurking" in the weeds only to produce this drivel.

[OF_Funder]

...

[HDF]

HDF. How much have you originated in loans this calendar year? Last six months? If the answers are zero and zero because you do not work in this industry.... join a different forum and discuss whether to hold the mayo or hold the lettuce in your new endeavor. Providing additional profile screening/verification on this site would hopefully eliminate some of the trolls who are "not really a doctor. But I play one on the internet".

Enough that you and your kind don't intimidate me nor impress me. And, believe it or not, I actually try to help people rather than bully and try to defend turf you don't own.

[jotucker1983]

This is terrific.

This guy is worried about trolls and poor reflections on the industry. Has a real soft spot for the "excited new blood" looking to enter. Meanwhile he can't help but represent himself (the industry) as the exact parody of what outsiders think of it.

So this guy is fighting against trolls? He trolled the hell out of me on PM. Says I have multiple aliases. Told me how well he does and wanted to compare financials. Says he's smarter than us, yet looks the fool the more he types. Then deletes.

So worried about the poor impressionable youngsters yet sits (his word) "lurking" in the weeds only to produce this drivel.

You took the words right out of my mouth lol! I don't like to discuss PMs, but for the life of me, OF_Funder needs to go relax and have a beer for goodness sakes

[jotucker1983]

OF_Funder,

No dude, I don't want your "cell" so you can "tell me" more about how awesome you are. If you are so awesome then go out and enjoy the weekend, and stop blowing up my PMs

[OF_Funder]

...

[HDF]

HDF. Ok. So it is zero and zero. Trying to scam people into buying leads from you in PM does not count. Go play on the McDonald's forum and debate whether somebody should hold your pickle or hold your lettuce.

Wow. Please describe the scam. We don't generally sell leads.

Rather than even entertain your demented musings, let's get to the issue of why you are stalking people. It will make sense soon. First: Your full name one letter at a time. I'll start:
S

[HDF]

C.................

[jotucker1983]

It just exposes fake trolls not even in the industry coming here to assuage their reality. Hence the original post that I made suggesting additional screening/verification of forum members who post. Which would "help" people who use this site as a valued resource.

Okay, so how about we do this....

This entire forum knows who I am (because of my post history and also because I've never been anonymous, as my name, company, and direct contact info has always been in my signature).....but who are you?

You mentioned to me in PM that you would give me your contact information, why would you only do that through PM if you are this "person" that wants to provide such valued resources to the forum? Why wouldn't you provide your identity, name, company name, and direct contact information publicly so that people from "the forum" could reach out to you?

So with that being said, once again OF_Funder, who are you?

[Karen37a]

OF Funder.... I guess you ignored my marriage proposal lol...

omg I missed a sale...

[OF_Funder]

Karen. I am sorry for not responding sooner. You actually seem like you are in this industry. Have a stake in it. Working hard and successful. Not disgruntled.

Of course I will be honored to marry you. If in sales, there is nothing sexier than a self confident female closer.

[HDF]

sco