…to run a successful business finance ISO (independent sales organization). I help many small one, two, and three person business finance ISO groups build their books of business. Many of them are one, two, or three person groups by choice. They don’t have the desire to take on the responsibilities of a 10 million dollar per month ISO shop. These responsibilities include; hiring employees, training them, managing various temperaments and personalities, balancing a larger budget, finding additional lead sources, and the list goes on and on.
So the first thing you need to do when considering a vision for your ISO is establish your goals. Establish the reasons for your goals, the; who, what, why, when, where and hows. Many of my smaller groups are only interested in earning six digit incomes, minimizing their responsibilities, and spending more time with their families.
Figuring out the right way to get leads is tragic to most. If you’ve been in this business for very long you’ve learned some of the wrong ways to get leads, ways that completely decimate you and make you incapable of re-upping and getting more leads.
Here is a scenario that probably resonates to many business finance ISOs…You purchase 100 leads from a third party. The purchase cost you anywhere between 5,000 and 10,000 dollars. You are expected to build relationships with 100 merchants over a 1-2 week time period. Once you receive and pre-qualify those 100 leads what’s next? You fund one or two small deals from the set with a grand total commission of $1,000.00 and now you are $4,000-$9,000 in the hole. Not to mention you have your time, or a partner’s time wrapped up in all of this plus all other expenses, phones, CRM, internet access etc. What’s next?
You scrounge for another deal to try to start over again, sometimes successfully, many times not. Then you start the entire process over again, looking for another 3rd party provider and expecting or wishing for better results.
The biggest problem with small business finance ISOs is scarcity. You have to set a huge footprint – more merchants in need of funding. FinServe helps ISOs set that huge footprint at a fraction of the cost of a lead pack from third party lead producers. FinServe has a proven program called the Re-Marketing Lite Lead Generation Program check it out, fill out the form below to discuss, or call us at (989) 448-4003 to discuss how we can help you build a sustainable lead generation program that will help your business finance group succeed.