[MCNetwork]

No, but most people use .... Google. Or Bing. Or Yahoo. If you want to find a product or service that is available, do you use Google, or do you wait for someone in boiler room to Cold call you? Lmao.

Even more, what percentage of business owners in need of immediate financing wait around for cold calls?

According to this logic, there is no need for any company to hire salespeople to perform outbound telemarketing sales since no business owner seeking a service will just sit around twiddling their thumbs waiting for a cold caller to reach them. Tell that to the legions of millionaire salespeople out there crushing it with cold calling in every industry...

There are tons of times where I've called a business owner and he said "Wow, as a matter of fact, I'm in the market for financing and I'm still looking at options. Whatcha got?" It's all about timing and making enough calls to cast as wide a net as possible. Don't get me wrong, it's certainly nice to get qualified inbound leads but unless you're swamped with 10 plus per day (which is exceedingly rare nowadays unless your shop spends millions on marketing), you'll actually have to pick up the phone and do some real prospecting to fill out your pipeline and put food on the table. Salespeople who think they can sit around all day waiting for the Glengarry leads to pop up in their inbox usually don't last very long. When the lead volume dries up they ***** about things like poor lead quality, the industry is too damn competitive and a hundred other reasons to explain away their failure as they troll the forums of their previous industry during lunch breaks at Best Buy. The salespeople who know how to roll up their sleeves and actually cold call effectively (like Karen37 and her team) can always write their own ticket in any industry. I've heard Karen's sales pitch several times and will freely admit her skills blow mine away, and I'm no slouch myself. Salespeople who aren't afraid to cold call are immune to the MCA lead snake oil salesmen pitching their crappy products to pseudo salesmen seeking fictional shortcuts to success.

[MCNetwork]

And that's WITHOUT renewals.

[Karen37a]

LoL

Exaccttyyy my point.

Ps most of my salespeople and referrals come from ex mortgage brokers, stockbrokers, accountants ,cpas visa /mastercard processing companies or Isos .Birds of a feather. Ive been doing this( Financial services not mcas) too long, those are the only friends I have.

Oh yeah . I took in 4 failed iso shops, the few brokers that survived.t

And that might be YOUR strategy, but a new broker entering into this industry cannot duplicate it, so you can never have new brokers.They will never make money,unless you feed them leads at 1%2% like a beggar

Dont bs the bsser who invented the bs. That is a failed business model for top producers. You looking for people who want money TODAY is the reason I am in business, keep doing it and keep teaching it.

I am not going to train you on how to cultivate leads or brokers. Gl with whatever you are doing. I do hope you make millions.

[WestCoastFunding]

West Coast. Issac Posted something and I kinda High Fived him and then you jumped all over me with nonsense.. Cause I know you wouldnt direct those comments to someone who has actual power.

Issaac simply posted a link. You made a wrong assertion (which anyone in finance or following politics knew was a wrong assertion) and I simply corrected you. It was at that point where you attempted to prove that the Volcker rule didn't actually prevent banks from using depositor money to use on risky bets, and to prove it you said "see, these protections were already in place" and posted a link to the Volcker rules implementation in 2014. Real smart! Lol.

Listen, if you provide poor/false information on a public forum, people are going to correct you. And they should. Maybe you aren't used to that. So rather than playing victim, make sure the info you provide is accurate or you'll be challenged.

[Karen37a]

You are and were wrong. Not reposting, Go re read it and learn how and when the rules laws were put into place. Big money Happy Hht told you as well.

I am not really here to debate you. Think what you will. I am going to find that ignore button as well. I do not live life to debate strangers, gl to you

[HDF]

You are and were wrong. Not reposting, Go re read it and learn how and when the rules laws were put into place. Big money Happy Hht told you as well.

I am not really here to debate you. Think what you will. I am going to find that ignore button as well. I do not live life to debate strangers, gl to you

Before you go Karen, I am just curious if you condone "Scott's" behavior.

You know, the trolling, bullying, wishing people dead, slander etc. Hit and run false allegations then deleting and retreating? Are you on board with that?

[HDF]

Before you go Karen, I am just curious if you condone "Scott's" behavior.

You know, the trolling, bullying, wishing people dead, slander etc. Hit and run false allegations then deleting and retreating? Are you on board with that?

Thanks for the PM, Karen. And yes, somehow you and I fundamentally disagree with each other on everything you throw out here - but it has been civil. And that is good. Can you please answer the above question?

[WestCoastFunding]

You are and were wrong. Not reposting, Go re read it and learn how and when the rules laws were put into place. Big money Happy Hht told you as well.

I am not really here to debate you. Think what you will. I am going to find that ignore button as well. I do not live life to debate strangers, gl to you

Karen, you said the rules were in place before Dodd Frank, but the final rules for the Volcker rule (which you posted) were written and put in place in 2014. You tried to post the FDICs 2014 rules as something that happened before Dodd Frank. It was just an all-around dumb argument. Lmao.

And it was because you piggy backed off what someone else posted - who didn't realize they posted a link proving they were wrong. The problem is: you rarely think for yourself but, instead, latch-on to the dumbest argument being made, without having a personal understanding of the topic matter. I think most on here recognize this and have just been polite in not calling it like it is. But there it is.

This is exemplified by your defense of OF_Funder's moronic behavior on here. Surprising no one.

[Karen37a]

I will find this iggy button.

You stated years on doody frank I told you it was blank and laws and rules added along the way.

You don't know the difference between paid in capital, fdic, grandmas bank account, speculative or speculation..yet you try to lecture me on grammar...semantics.

You did not realize you were debating people who are and were in compliance for securities for money and a big Trader. massive money trading daily lol.

I told OF and Hdf to stop, I am sure he gets tired of the bull**** gang mentality you and 3 others have. Were you bullied in high school?Get over it . You were wrong, and you are wrong on your business marketing strategy. , wasted time.

Again. Gl Hope you make millions. Will you still be on DF all day and night , all the thru the weekends when you do get that $$$$? I went to dinner last night, going out now as well. Leave the house and get some sun, its good for you.

I know you will have to respond with your massive word salad posts.

[WestCoastFunding]

Karen, you're just repeating the same word salad statements you've used before that you copied from another commenter. It's dumb. You are literally arguing against something that is incredibly well-known and only you seem to deny. Dodd Frank prevented depositor money from being used on risky bets, as they could before the Volcker rule. There's nothing to debate. Yet here you are trying to. And it's because you don't even understand the basics.

[Karen37a]

That commenter is my best friend and jr partner in real life...not the df

And I was a partner in a small stock brokerage firm in the 90's I do not need anyone to tell me what I already know lol. Then another Finance company after that for 10 years

Anyway gl. You need to feel like you are right. have fun. attacking the next person

[WestCoastFunding]

and you are wrong on your business marketing strategy. , wasted time.
.

Yes, new entrants into the industry, please continue doing what dinosaurs like Karen insist, and spam call t-shirt shops pushing cash advances.

Sadly, she believes the best and only way to reach the 18,000,000 businesses in America in the 2017 and beyond is to advise new entrants is to spam them. In her words, nothing else works. Smh.

Pretty much exemplifies someone who has no clue how the new economy works, and has no ability nor desire to adapt. No creativity. No diversity. All eggs in one contracting basket. From a pure business perspective, isn't that awful?

And this is what you advise now brokers?

[Karen37a]

Yes, new entrants into the industry, please continue doing what dinosaurs like Karen insist, and spam call t-shirt shops pushing cash advances.

Sadly, she believes the best and only way to reach the 18,000,000 businesses in America in the 2017 and beyond is to advise new entrants is to spam them. In her words, nothing else works. Smh.

Pretty much exemplifies someone who has no clue how the new economy works, and has no ability nor desire to adapt. No creativity. No diversity. All eggs in one contracting basket. From a pure business perspective, isn't that awful?

And this is what you advise now brokers?

"And this is what you advise now brokers?" ...omg is that a typo, you didn't go to college

I will not teach you about what I do, nor advise you on how to make money. You make things up, lie. But its on the record because we typed it .You cant bait me into a backhanded training of you

Where did I say "spam tshirt shops".... that is a very very Bad strategy.

Someone like you makes someone like me not want to help newbies because its a general format and you will see what I am typing. Its like free training to some schmuck who not only wont say thank you, he invented the idea.p

As That Bethany person says from the dumb TV show were everyone argues

Get off my Jock

[WestCoastFunding]

[B]


I will not teach you about what I do, nor advise you on how to make money. You cant bait me into a backhanded training of you.

Yes, Karen, we're waiting on a dinosaur like you, to teach us how to chase after 3% of the market using tactics that majority of brokers are using, and becoming more saturated daily. Spamming sure is cutting-edge! Disruptive, even! SMH.

[Karen37a]

HDF I do not know anyone named Scott, from these boards. And If you ever think I would throw a friend, whos name isnt Scott under the bus in public forum..you must not really know me that well.


And the reason we fundamentally disagree is your stance on the pinky ring zoot suits and regulation.The direction they are going will not help the broker or small Iso or Funders. But again we beat this topic to death.( while being civil to each other)

[HDF]

HDF I do not know anyone named Scott, from these boards. And If you ever think I would throw a friend, whos name isnt Scott under the bus in public forum..you must not really know me that well.

"Scott" is his ***** name now. Wasn't asking you to out him. Asking if you agree with the behavior, approach and slander. Would you appreciate it if someone did that to you?

[Karen37a]

Westcoast
Who is "we" Most of the brokers on here already know the "secret sauce", and I know alot of them in real life. You are the only one out of the loop.

Most brokers cant get to the decision makers of any company with BIG money..so you are chasing the 3%, i teach people how to get out of the gutter

I guess because you put salespeople down and the MCA industry and that's probably the reason you are a champion for regulation and attack me because I am against it, (in the way that they are going).

[WestCoastFunding]

I guess because you put salespeople down and the MCA industry and that's probably the reason you are a champion for regulation and attack me because I am against it, (in the way that they are going)

This is another perfect example of you making a stupid declaration, and then playing victim when challenged. It was you that said all other forms of marketing besides phone spamming don't work. When challenged, you start whining.

[WestCoastFunding]

that's probably the reason you are a champion for regulation and attack me because I am against it, (in the way that they are going).

Im actually against all regulation in the MCA space besides a streamlined national brokers license rather than these state regs (like CA which has proven to be not only ineffective - because it really doesn't stop cash advance brokering, but only makes it harder to broker conventional stuff, thus: increasing chances a broker will push an MCA over healthier stuff).

The difference between you and I is I can articulate my stance. You seem to attempt to repeat dogmatic crap you've heard elsewhere and think it passes as profundity.

Let's not lose sight of how this all started: you defending the AF_Funder's antics. Even after he realized his own antics were despicable and personally deleted his comments. Yet you applauded his antics. Smh.

[admin]

everybody.jpg

[Karen37a]

Geez John.

he said back to the corners.

I used to get yelled at in the first company I worked for for only dialing 7-30 numbers a day. They would "out me" in the montly meetings. Meanwhile I closed/funded 7 deals in my first month and I was top 3 sales person. .Think what you will.

If you fund 1 out of 100 dials get on the phone, like i said

Grind it out make sales, you renewals come then you are making $$

** i know the mistake you are making is drop closing on rate and commission because I saw you post it once.The rate has to be a certain level to keep everyone in business no matter what anyone says.


Sales and non sales can fuel extreme jealousy, hatred. I have to get to that million dollar commission level before i start patting myself on the back.

this dinasour was trained to dial 500 dials a day as a stockbroker..brokers get 1% 2%,, mortgage brokers etc..I guess they all have to quit.We are spolied.

I am done with paperwork its beautiful outside waving bye ***

[Karen37a]

avg Commission is 2-4k depending on the broker and then you have to factor in renewals.

You cant have a $900 avg and stay alive...

Well I take that back..make more contacts

[MCNetwork]

avg Commission is 2-4k depending on the broker and then you have to factor in renewals.

You cant have a $900 avg and stay alive...

Well I take that back..make more contacts

Damn right. With an accurate 10,000 UCC list from 2015/2016, I can generate 150-250K in gross revenue with a two man shop in 12 months. And that list will cost me 2-3k.it will take a lot of hard work but it's certainly doable. $900 in average commission is crap. You can make more than that selling $7500 Yellowstone advances. My average commission is in the 2k range.

[jotucker1983]

avg Commission is 2-4k depending on the broker

On UCCs? Today? I would have to disagree. $900 - $1,200 range on average is where I'll put it.

Damn right. With an accurate 10,000 UCC list from 2015/2016, I can generate 150-250K in gross revenue with a two man shop in 12 months.

Archie, please break down the numbers (realistically) on how two guys generate $250,000 in revenue off of a 10,000 list of UCCs today? Even if you work with the D lenders that do nothing but stack, stack, and stack, that's still not possible on today's UCC lists.

$900 in average commission is crap. You can make more than that selling $7500 Yellowstone advances. My average commission is in the 2k range.

How many of these $7,500 12 point advances are you selling to UCC lists today? You would need to sell at least 275 of them. Is that what you're doing?

Because while those things "work" (in terms of getting new clients) to some degree, very few of them are actually worth pursuing by smaller ISOs. Half of those campaigns will give you a negative ROI (you know how much a billboard in a major city costs??) and the others will provide too few leads on their own for an ISO to survive comfortably. Cold calling still provides the highest ROI because you're really just paying for sweat equity. White hat SEO is important but it's a longer term play and not something to rely on for consistently good lead flow. Rather it's usually just one smaller component of an ISOs overall marketing strategy.

- Cold calling out of the Yellow Pages, is the worse marketing strategy that any Broker can utilize today. Completely horrible. For every 600 dials you make, you are lucky to get 20 interested merchants. Of those 20 interested merchants, you are lucky to convert 4 applications. Of the 4 applications, 2 are approved, of the 2 approvals you get 1 close. 600 dials to get to 1 close, the rep would burn out, which is what MOST of them are doing following this strategy. Don't take my word on it, just look at the industry Archie.

- UCCs are also horrible. I broke the numbers down earlier.

I would love to see you and Karen break down your assertions with actual, real, production numbers. Not just the usual Zig Ziggler/Tom Hopkins sales "lingo" about how cold calling out of the Yellow Pages is going to make you a millionaire, or pounding through ineffective UCC data (that everybody is calling on and where most leads are stacked to hell with NSFs everywhere) is going to make you $250,000.

The numbers you and Karen are throwing out are just completely unrealistic, thus, I would love to see estimated production breakdowns.

Now, with that being said, there are productive/profitable marketing strategies left today, but I can assure you that UCC data and Yellow Page cold calling are not one of them.

[WestCoastFunding]

According to this logic, there is no need for any company to hire salespeople to perform outbound telemarketing sales since no business owner will just sit around twiddling their thumbs waiting for a cold caller to reach them.

That's not at all what I said. I simply stated that the percentage of business owners waiting around for cash advance brokers to sell them financing is a very small percentage, and the pool of brokers cold-calling is increasing. If you want to fight for cold calling market share, knock yourself out.

I do know that business owners do hundreds of thousands of searches on Google, Yahoo, Bing and other search engines for business lending options each month. Here are just 6 keywords and the number of monthly searches for each one:


Working capital: 27,000 monthly searches
Business loan: 6,600
Business loans: 18,100
Small business loan: 5,400
Small business loans: 45,000
Merchant cash advance: 3,600

Those are just a small fraction of search terms, and there are thousands of other keywords (as well as long tail search terms). And that only represents Google searches and not other engines.

Like I've said, it's 2017. There are more efficient ways to reach customers than cold calling. And those of us that aren't forced to spend endless amounts of hours dialing away, are able to focus on hiring finance professionals that are well-versed on all types of business and commercial lending, and not just MCA salespeople.

I'll say it again, when your customers come seaking-out your services (as opposed to cold calling) there is nothing to sell. There's no resistance. At that point all you have to provide is advisory, and let the solutions (financing options) sell themselves.

But hey, market how you wish. If one really believes that the "ONLY WAY" to reach prospective customers is to cold call, have at it. I just fundamentally disagree.