[Franklin]

famous last words....

Famous last words are usually 5 to 15 syllables long occurring in a single phrase or sentence, which would disqualify my 3 lengthy paragraphs.


just sayin'......




There's this one merchant named Jeff who is always extremely irate and has a reputation of stalking and harassing cash advance funders. He's threatened to call the Attorney General many times on a number of funders for constantly calling his business and pitching him money; I haven't heard of any ramifications yet; either the industry's too small to be worth the time or they don't see anything inherently wrong with soliciting a business for capital. (There are many merchants too who've threatened a call to the Attorney General by the way, and I think half of them live in Florida).

[happysales]

Famous last words are usually 5 to 15 syllables long occurring in a single phrase or sentence, which would disqualify my 3 lengthy paragraphs.


just sayin'......




There's this one merchant named Jeff who is always extremely irate and has a reputation of stalking and harassing cash advance funders. He's threatened to call the Attorney General many times on a number of funders for constantly calling his business and pitching him money; I haven't heard of any ramifications yet; either the industry's too small to be worth the time or they don't see anything inherently wrong with soliciting a business for capital. (There are many merchants too who've threatened a call to the Attorney General by the way, and I think half of them live in Florida).

Haven't heard from or about Jeff in a couple of years- but I remember him well. I'm guessing this is the same guy. He had quite a few phone numbers and was on UCC lists, so it was almost impossible to get him off all of the call lists-

I can't imagine he had the capacity to get any Gov. agency to take him seriously-even if he had a legitimate complaint (which I don't think he had-no DNC regulations for business). He was too excitable and within 30 or 40 seconds would degenerate into much colorful language...seemed pretty unbalanced.

[Franklin]

Haven't heard from or about Jeff in a couple of years- but I remember him well. I'm guessing this is the same guy. He had quite a few phone numbers and was on UCC lists, so it was almost impossible to get him off all of the call lists-

I can't imagine he had the capacity to get any Gov. agency to take him seriously-even if he had a legitimate complaint (which I don't think he had-no DNC regulations for business). He was too excitable and within 30 or 40 seconds would degenerate into much colorful language...seemed pretty unbalanced.

Yeah this guy was hilarious. He'd be like... am I the only person in America that qualifies for unsecured financing?... Talking nicely and explaining to him wouldn't pacify this clown. The worst is when you promised him he was removed off the list and wouldn't be contacted again and then 9:15 am the next morning he'd be getting pitched again because someone else called one of his other 3 numbers; he'd start demanding names and threaten to come to their office... he was on a lot of aged lead lists that were sold multiple times so that was a problem.

[NewWay ISO]

I look at it like a partnership/investor. When a partner deposits 50k in a business worth 300k and gets a 10% or 20% stake, you would agree that it's business as usual, even though his 'cash in advance' of 50k will eventually get him hundreds more than he initially threw in to the business. In a sick liberal mind he would need to get 10% APR for 10 years etc. But why the 20% stake that can eventually be going up to 100% or 200% APR?

[jotucker1983]

Yeah this guy was hilarious. He'd be like... am I the only person in America that qualifies for unsecured financing?... Talking nicely and explaining to him wouldn't pacify this clown. The worst is when you promised him he was removed off the list and wouldn't be contacted again and then 9:15 am the next morning he'd be getting pitched again because someone else called one of his other 3 numbers; he'd start demanding names and threaten to come to their office... he was on a lot of aged lead lists that were sold multiple times so that was a problem.

But it's these types of situations that I'm referring to when I say the Mom and Pop Network needs to be eliminated, and the barrier to entry to sell our products/services needs to be raised. Imagine for a second if more business owners like this guy start complaining more often, of not being able to run their business because 15 guys are calling him a day about a "cash advance"?

This isn't about eliminating competition, what competition? 13 of the 15 guys calling him barely know the basics of the product because they just started reselling it less than 30 days ago. Because the guy is getting so many calls from funding companies, he shuts off any new discussions with any funding company which means we ALL are pushed out of potentially working with this guy. Furthermore, 13 of the 15 guys who called him are OUT of the industry within 60 days because they hardly made anything calling on dead UCCs, dead Aged data, or randomly out of the phone book, all strategies supplied to them by their out of touch Sales Manager.

This is a lose-lose-lose across the board. The merchant loses, the green rep loses, and the industry as a whole loses. Nobody benefits from this. We have got to increase the barrier to entry for goodness sakes and stop recruiting everybody with a damn heartbeat/pulse.

[FUNd]

But it's these types of situations that I'm referring to when I say the Mom and Pop Network needs to be eliminated, and the barrier to entry to sell our products/services needs to be raised. Imagine for a second if more business owners like this guy start complaining more often, of not being able to run their business because 15 guys are calling him a day about a "cash advance"?

This isn't about eliminating competition, what competition? 13 of the 15 guys calling him barely know the basics of the product because they just started reselling it less than 30 days ago. Because the guy is getting so many calls from funding companies, he shuts off any new discussions with any funding company which means we ALL are pushed out of potentially working with this guy. Furthermore, 13 of the 15 guys who called him are OUT of the industry within 60 days because they hardly made anything calling on dead UCCs, dead Aged data, or randomly out of the phone book, all strategies supplied to them by their out of touch Sales Manager.

This is a lose-lose-lose across the board. The merchant loses, the green rep loses, and the industry as a whole loses. Nobody benefits from this. We have got to increase the barrier to entry for goodness sakes and stop recruiting everybody with a damn heartbeat/pulse.

Agreed. The little guy is already getting pushed out though John. Without a large marketing budget and the wherewithal to risk that capital in the hopes of gainful ROI, these little shops are dropping like flies. Outbound telemarketing is becoming less and less effective, and UCC's, forget about it. Inbound marketing (across all industries) has become the standard. Qualified applicants want to be empowered, to choose, to pick up the phone and call the broker/lender of their choice.

Telemarketing was very effective 10-20 years ago because information was not readily available. Some businesses simply did not know where to go to obtain capital or financing, and inversely, brokers had a more difficult time marketing to these businesses. I mean, before VOIP, you needed a phone system and an office space to run a sales floor, and that could be $10,000 alone just for the setup, plus a very hefty landline phone bill and long distance charges.

Now, to have an ISO, you can literally be set up for $100. Website, phone, email, and fax. And if you are clever enough, professional voice-overs and testimonial videos for a few dollars more. You can appear to the unknowing consumer on the other end just as legitimate as On Deck or CAN Capital with a few bucks and a day of setup work.

The real power is getting the qualified people on the phone and closing the deals. And that takes money. These little shops don't have it, and are spinning wheels. 90% wont make it past a year, with 90% of the remaining 10% out of business before the end of year 2.

[jotucker1983]

Agreed. The little guy is already getting pushed out though John. Without a large marketing budget and the wherewithal to risk that capital in the hopes of gainful ROI, these little shops are dropping like flies. Outbound telemarketing is becoming less and less effective, and UCC's, forget about it. Inbound marketing (across all industries) has become the standard. Qualified applicants want to be empowered, to choose, to pick up the phone and call the broker/lender of their choice.

Telemarketing was very effective 10-20 years ago because information was not readily available. Some businesses simply did not know where to go to obtain capital or financing, and inversely, brokers had a more difficult time marketing to these businesses. I mean, before VOIP, you needed a phone system and an office space to run a sales floor, and that could be $10,000 alone just for the setup, plus a very hefty landline phone bill and long distance charges.

Now, to have an ISO, you can literally be set up for $100. Website, phone, email, and fax. And if you are clever enough, professional voice-overs and testimonial videos for a few dollars more. You can appear to the unknowing consumer on the other end just as legitimate as On Deck or CAN Capital with a few bucks and a day of setup work.

The real power is getting the qualified people on the phone and closing the deals. And that takes money. These little shops don't have it, and are spinning wheels. 90% wont make it past a year, with 90% of the remaining 10% out of business before the end of year 2.

I agree 200% lol!