![]() So I’m yet to figure out what was going on with that company, honestly, that you were funding two deals and there were declining deals right and left.īut you’re 100% right. One, is well you’re simply lazy, you’re looking for a reason to blame the boss or the product or the industry, or you’re working your butt off, just like you did, but something was off. It’s not like you’re sitting around waiting for deals to come to you. ![]() And in six months, I only funded two deals.Īnd that’s hitting the phones every single day. So I felt that there was no money to really be made in the industry at all because of what I was seeing. I felt that I was scared, honestly, because, and I’m sure a lot of people are too about the industry itself because, if you don’t feel that immediate gratification, you just wonder how is there money to be made here? And for me personally, the situation is that I’m in a position where I have a ton of expenses, I own a home, I own cars, I own a ton of things, that having zero income is a scary thing. This file’s no good, throw that one out, this guy’s not going to get much money, blah, blah, blah. Every deal that was getting in, as far as files with bank statements, I learned how to do it, but when I would pass it along to my manager, who would then look at it and go ahead and go forward to submitting to lenders, one thing always seem to happen. I would be forced to take a break around 12:00, take an hour, come back and go from basically one o’clock to six o’clock every day, 6:00, 6:30, as late as I wanted to. Yeah, I would go in … I wanted to start really early, but they were running a ship where they would start at 10:00 AM, don’t know why. ![]() I was doing between 200 and 300 calls a day. How many phone calls were you making, Lawrence, on an average day? I had no salary, so I was just sitting there dialing my butt off and getting out app outs and getting them in. But it was something that was just slow as anything. Never had a problem with that, based on my previous experience. So I wasn’t doing anything other than reading a list, like a UCC, bunch of sheets, just going through them, talking to secretaries. The salesmanship tactics and the salesmanship skills that I learned as a stockbroker really did help, as far as just keeping guys on the phone because I was doing cold calling. Someone who runs an office, a merchant cash advance office. I had to go back to working for someone in this industry and that’s what I did. So 30 years old and I need to make a move. My whole career was pretty much cut short. I’m in Long Island, I have a ton of expenses and I had no job, no career. ![]() Jumped in at an office because again, I had really no choice. I’d heard of it before, never really knew much about it, had really little knowledge in regards to what it entailed. One thing led to another where I had to leave that industry, and more so out of desperation, I got connected to someone who knew someone who knew someone in the merchant cash advance industry. High intense, really, really immediate gratification business to where I can be on the phone with someone and when I’m hanging that phone up I know I just made X amount and it’s done and it’s trade purchase, done. Got good enough to where I was able to have my own office, run my own branch in New York, from a Florida-based company. I had a ton of success working for different firms on Wall Street. Previously, I was a stockbroker, Series 7. How did you get introduced to the industry, what you were doing before and how things were working out. I know that you knew about the industry when you came in, so let’s go back there. So I want to go back to what it was like when you first started out.
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