MCA Week 7-22
Texting Services
This week I received several emails from Cherry SMS stating that they were not providing texting services for MCA teams and then receiving another email saying that they are back up and able to send text messages for MCA. I am not currently using Cherry SMS so I’m not sure what their capabilities are at this point. I did speak with several clients late Friday who told me that they are using Easify and having success. Teams are telling me in some cases the deliverability is better than what they were seeing at Cherry SMS If you’re not using Easify look into the service and see if it is a good fit for your business, You can find them at Easify.app. In the meantime, I am always on the lookout and researching options for my clients for the best SMS and email solutions. I will send updates if I learn about any other technology solutions, that could be helpful
Roglieri-PrimeCapital Update
There was news this week,in the case of Chris Roglieri the prime capital CEO, who is accused of running an advanced fee scheme where he solicited merchants, and real estate investors, to make deposits with him prior to him securing financing for their ventures. Roglieri in most cases did not secure funding for these potential clients but kept their deposits and used it for his personal use including luxury vehicles, homes, art, guns and vacations. This week federal prosecutors in New York, asked a federal judge to deny Roglieris request for release pending trial. Prosecutors stated they feel as though Roglieri is violent, and there is a great risk of him potentially causing harm if released.Roglieri had threatened to murder the FBI agents that were investigating his case telling several associates he knew where they lived in with retaliate against anyone who is trying to put him in prison. When Roglieris home was searched, agents found guns, including automatic weapons. It appears that Roglieri will not be granted a temporary release and will have to wait for the outcome of his trial to see if he is allowed to go home.
Timing-Sales-Technology
I speak with many ISO teams and Funder ‘s throughout the course of the day. As I have these conversations, and I think about the eight years that I have been providing Merchant cash advance leads, I realize more and more that it’s about the timing, technology, and skill of the sales teams calling the list. Timing is incredibly important, and I realize that an aged MCA list can be as good as a 24 hour or 30-day lead if teams have the technology to follow up on merchants and find them when they are in need of capital. Teams that can put this together will be the winners and will dominate teams that are trying to operate on shoestring budget. This past week one of my reps provided a new client with a 30-day set of data. In less than one day this new client came back and asked for a replacement or a refund stating he was unable to get anything out of the list. He stated that he got only about 30% through the list and after not getting anything he did not want to continue calling the list This broker obviously has not invested and secured the 4 pillars of MCA that I discuss. These 4 are proper leads, technology sales training and lender relationships. This is an example of poor salesmanship and someone who is a gambler, not an investor in their business. With the leads that I am providing, you may see a return on day two or day 92, but if you are persistent, use technology and have strong sales skills, in most cases our clients see a return on my leads and come back and buy over and over again .Put the proper pieces in place and position yourself define $10-$15 million per month, do it for many years, save as much money as possible and retire early
Finish July Strong !