1
00:00:00.360 --> 00:00:02.550
Sean Murray: You've been in the
industry for a long time, how

2
00:00:02.550 --> 00:00:03.870
many years are we talking about?

3
00:00:03.930 --> 00:00:05.910
Andrew Altschuler: I've been in
the industry for 16 years?

4
00:00:06.390 --> 00:00:06.960
Sean Murray: 16?

5
00:00:06.990 --> 00:00:07.380
Andrew Altschuler: Yeah.

6
00:00:07.440 --> 00:00:09.990
Sean Murray: Okay. So I look at
somebody like you, and then I

7
00:00:09.990 --> 00:00:12.690
think about people who are just
joining or thinking about

8
00:00:12.690 --> 00:00:16.110
joining it for the first time
ever right now, do you think

9
00:00:16.470 --> 00:00:20.190
it's almost too late for people
to get the start in either small

10
00:00:20.190 --> 00:00:23.280
business finance or payment
processing? Which I know you do

11
00:00:23.280 --> 00:00:28.110
some of as well. Or is now as
good a time as ever? Maybe not

12
00:00:28.110 --> 00:00:31.590
as, as it used to be like, in
your opinion, is it too late?

13
00:00:31.590 --> 00:00:34.680
Or, you know, what, what's,
what's the road ahead for

14
00:00:34.680 --> 00:00:35.700
someone brand new?

15
00:00:36.720 --> 00:00:38.753
Andrew Altschuler: It's a great
question. We didn't talk about

16
00:00:38.800 --> 00:00:41.637
that so I wasn't prepared for
that. I think there's always a

17
00:00:41.684 --> 00:00:44.616
time to get involved and I think
you have to do it slowly. And

18
00:00:44.663 --> 00:00:46.980
you have to do it
conservatively. But you have to

19
00:00:47.027 --> 00:00:49.817
get out there. And you have to
you know what I tell ISOs is

20
00:00:49.864 --> 00:00:52.796
well, I don't want to spend any
money, you have to spend money

21
00:00:52.843 --> 00:00:55.775
to learn, right? That's the way
you have to do it. You have to

22
00:00:55.822 --> 00:00:56.910
try a different market.

23
00:00:56.940 --> 00:00:58.500
Sean Murray: And when we talk
about money, because I feel like

24
00:00:58.500 --> 00:01:01.020
this comes up a lot. I know, I
know you and I didn't speak

25
00:01:01.020 --> 00:01:04.080
about any of this off camera,
right. But we throw around like

26
00:01:04.080 --> 00:01:06.690
the we throw around the phrase,
you have to spend money. And I

27
00:01:06.690 --> 00:01:09.150
think if you're brand new to the
business, and people hear that,

28
00:01:09.360 --> 00:01:11.970
they're they're trying to think
of that what that number is in

29
00:01:11.970 --> 00:01:17.340
their mind. And I think what new
people should probably know is

30
00:01:17.340 --> 00:01:22.170
that were. And you could tell me
if I'm wrong, but we're not

31
00:01:22.170 --> 00:01:24.690
talking about spending hundreds,
we're certainly talking about

32
00:01:24.690 --> 00:01:27.600
spending 1000s. At the very
least right? We're not talking

33
00:01:27.600 --> 00:01:30.600
about a $200 experiment. You
know what I mean? We're talking

34
00:01:30.600 --> 00:01:33.660
about 1000s of dollars. Right.
So if you're gonna get started,

35
00:01:33.960 --> 00:01:38.220
you need to have 1000s to try
different things out, right?

36
00:01:38.280 --> 00:01:42.630
Like, you know, could it be 10s
of 1000s? To try things out?

37
00:01:43.080 --> 00:01:45.090
Sure. Sure. Right. Yeah. So I
think.

38
00:01:45.090 --> 00:01:46.500
Andrew Altschuler: It depends on
your scale depends on what

39
00:01:46.500 --> 00:01:48.840
you're looking to achieve,
right? If you're just a one man

40
00:01:48.840 --> 00:01:52.350
shop, or a couple guys, in a
room just getting started,

41
00:01:52.350 --> 00:01:54.570
you're gonna have to put out a
couple of $1,000, to try

42
00:01:54.570 --> 00:01:57.540
different marketing, to try
different things. Because that's

43
00:01:57.540 --> 00:01:59.730
the only way you're gonna get
you to really learn and you can

44
00:01:59.730 --> 00:02:02.700
be able to grow the businesses
to understand there's no magic

45
00:02:02.700 --> 00:02:04.920
bullet in marketing, and
everybody talks about this, you

46
00:02:04.920 --> 00:02:07.500
got to do a little bit of cold
calling, you have to do a little

47
00:02:07.500 --> 00:02:09.570
bit of emails, you have to do
with all advertising, you have

48
00:02:09.570 --> 00:02:11.310
to do a little bit of
everything. And that's gonna

49
00:02:11.310 --> 00:02:15.720
cost money. There's no low cost,
no cost entrance, where you can

50
00:02:15.720 --> 00:02:18.360
just call the Yellow Pages and
you know, maybe you'll get some

51
00:02:18.360 --> 00:02:23.010
deals, not gonna happen. So I
think, yeah, several $1,000, to

52
00:02:23.010 --> 00:02:26.940
get it started, is what somebody
should anticipate. But I do I

53
00:02:26.940 --> 00:02:28.800
think it's a good time to get
into the business? Absolutely.

54
00:02:29.100 --> 00:02:32.490
Because businesses want money
and if you're good at what you

55
00:02:32.490 --> 00:02:37.500
do, and you are of a consultant
mindset, when you're working

56
00:02:37.500 --> 00:02:40.050
with some of these business
owners, there's a spot for you,

57
00:02:40.320 --> 00:02:43.200
right? Whether you want to start
with a big company, or you want

58
00:02:43.200 --> 00:02:47.160
to start on your own, there's a
slot, because if you're smart,

59
00:02:47.190 --> 00:02:50.280
and if you learn and you read
deBanked, right, and you learn

60
00:02:50.280 --> 00:02:53.010
the trends, and you understand
the products and keep educating

61
00:02:53.010 --> 00:02:56.520
yourself, I think people can
make money, and the business is

62
00:02:56.550 --> 00:02:58.680
in the business, for sure. But
getting back to spending money,

63
00:02:58.680 --> 00:03:01.200
I think somebody's gonna get an
investor or they're gonna take

64
00:03:01.200 --> 00:03:04.470
some money out of their own
pocket, and they got to spend to

65
00:03:04.470 --> 00:03:07.680
get, get things moving along,
and you got to build a website,

66
00:03:07.950 --> 00:03:10.140
right? I can't tell you how many
times I'll get an email from

67
00:03:10.140 --> 00:03:13.620
somebody, I'm like, oh, they're
XYZ funding, and I look at their

68
00:03:13.650 --> 00:03:17.160
URL. And it's like a
placeholder. Coming soon. Coming

69
00:03:17.160 --> 00:03:21.480
soon. Right. It's easy, like we
talked about the point before,

70
00:03:21.480 --> 00:03:24.210
you can build your own website,
you don't need to pay like, you

71
00:03:24.210 --> 00:03:29.610
know, some grad student, to
build a high cost website. You

72
00:03:29.610 --> 00:03:32.880
can just get it going on your on
GoDaddy, but things like that,

73
00:03:33.090 --> 00:03:38.820
which, if you have an email that
says Sean Murray funding, have a

74
00:03:38.880 --> 00:03:41.190
email, have a website spend a
little money.

75
00:03:41.220 --> 00:03:43.440
Sean Murray: That's not that's
not like a Yahoo address or

76
00:03:43.440 --> 00:03:44.310
something like that?

77
00:03:44.400 --> 00:03:49.380
Andrew Altschuler: Well, yeah,
correct. Yeah. Even if you go,

78
00:03:49.380 --> 00:03:52.440
okay, you have, you know, Murray
Funding, yeah, have a Murray

79
00:03:52.440 --> 00:03:55.410
Funding website, spend a few
bucks on it. It's things like

80
00:03:55.410 --> 00:03:59.310
that, where you have to spend to
have a presence. I like it. And

81
00:03:59.310 --> 00:04:01.260
what's cool about it is all you
need to do is get a couple of

82
00:04:01.260 --> 00:04:03.900
deals in and you can start
making money quickly, right?

83
00:04:03.900 --> 00:04:08.160
It's not like you have to spend
this money, outlay it, and then

84
00:04:08.160 --> 00:04:10.860
hope it comes back in a year.
You can spend money, right?

85
00:04:10.860 --> 00:04:13.530
Maybe you get lucky and you get
somebody come in, says at the

86
00:04:13.530 --> 00:04:16.650
GRP and we fund it you can get a
commission, you know, right

87
00:04:16.650 --> 00:04:20.580
away. Right. What a deal once
it's closed. It'll renew 70% of

88
00:04:20.580 --> 00:04:24.720
our deals renew two and a half
times, right. So there's

89
00:04:24.720 --> 00:04:27.570
residual income, we're talking a
bunch about, residual income.

90
00:04:28.470 --> 00:04:31.740
Once that money starts to come
in, then you have a baseline to

91
00:04:31.740 --> 00:04:34.890
pay yourself and to grow by
putting more money into the

92
00:04:34.890 --> 00:04:35.220
market.

93
00:04:35.370 --> 00:04:37.620
Sean Murray: Right, so like the
trade off is you spend a few

94
00:04:37.620 --> 00:04:41.400
1000 bucks or however much more
it takes. You try a bunch of

95
00:04:41.400 --> 00:04:44.070
different things. And then when
you start to get deals funded

96
00:04:44.190 --> 00:04:47.340
the compensation or the
commissions are high enough,

97
00:04:47.670 --> 00:04:50.850
presumably to offset those
costs, like you said it only it

98
00:04:50.850 --> 00:04:53.820
only takes a deal or a couple of
deals to get your money back and

99
00:04:53.820 --> 00:04:57.150
then some you don't you don't
need to find 100 deals, you know

100
00:04:57.150 --> 00:05:00.840
to make them or unless you're
doing it wrong at tha point. So

101
00:05:01.050 --> 00:05:04.200
if you're new to the business,
it sounds like you really only

102
00:05:04.200 --> 00:05:05.940
need to get a couple across the
finish line.

103
00:05:05.970 --> 00:05:07.920
Andrew Altschuler: Correct. And
that's I'm just trying to think

104
00:05:08.220 --> 00:05:10.770
so programmed to our business or
somebody who's I'm trying to

105
00:05:10.770 --> 00:05:13.650
think, where's another business
where you could open up a shop,

106
00:05:13.650 --> 00:05:15.870
right? Maybe you're an art
studio or you're like a

107
00:05:15.960 --> 00:05:18.420
marketer, right? And you spend
money to store it. And you're

108
00:05:18.420 --> 00:05:20.910
waiting for a client, you're
waiting for a client, and then

109
00:05:21.120 --> 00:05:23.460
takes you six months to actually
get a client and then another

110
00:05:23.460 --> 00:05:26.580
three months to get paid. When
meanwhile you're waiting, you

111
00:05:26.580 --> 00:05:29.970
know, that's you like burning
cash. Yeah. If you're starting

112
00:05:29.970 --> 00:05:33.360
that marketing business, right,
or whatever it may be, but in

113
00:05:33.360 --> 00:05:35.040
our business, right, you could
put a little bit of marketing

114
00:05:35.040 --> 00:05:38.580
dollars out there and get a
client and boom, you get paid.

115
00:05:38.580 --> 00:05:42.150
So I think that you don't have
the return on investment. Your

116
00:05:42.150 --> 00:05:46.980
ROI happens fairly quickly, when
you're outlaying, so. Sure. To

117
00:05:46.980 --> 00:05:48.840
answer the original question, I
think it's a great time to

118
00:05:48.840 --> 00:05:51.600
start. And but you got it, you
know, you can't come in super

119
00:05:51.600 --> 00:05:54.360
lean, you know, you don't have
to have the deepest pockets, but

120
00:05:54.360 --> 00:05:55.890
there's got to be somewhere in
between. Sure.