1 00:00:00.000 --> 00:00:02.485 Alright, so it's always good to see a familiar face. 2 00:00:02.675 --> 00:00:05.525 This is someone that we have interviewed countless times. 3 00:00:05.535 --> 00:00:07.925 We've been in your shop the whole nine yards. 4 00:00:08.185 --> 00:00:09.445 For people that are new here 5 00:00:09.675 --> 00:00:11.405 that don't know you, introduce yourself. 6 00:00:11.985 --> 00:00:13.525 My name is Jay v Dora, president 7 00:00:13.525 --> 00:00:15.045 and CEO of Velocity Capital Group. 8 00:00:15.145 --> 00:00:19.405 And I wanna say I have been to every single Deb Banked event 9 00:00:19.935 --> 00:00:21.565 since the bank events. 10 00:00:22.565 --> 00:00:24.485 I love that. Do you know that? Yes, I did. 11 00:00:24.925 --> 00:00:26.845 I did know that. Did not this one. No, I know. 12 00:00:27.005 --> 00:00:28.645 'cause you're always here, you always show up. I love it. 13 00:00:28.905 --> 00:00:33.205 Um, I love that you're here. First question B2B Expo. 14 00:00:34.025 --> 00:00:35.765 How has it been beneficial for your business? 15 00:00:36.705 --> 00:00:38.365 So, a couple reasons. 16 00:00:38.645 --> 00:00:40.925 I mean, obviously industry image 17 00:00:40.985 --> 00:00:42.685 and being here in front of people is important. 18 00:00:42.945 --> 00:00:46.485 You gotta show face. Um, meeting some of the people 19 00:00:46.485 --> 00:00:49.125 that we work with, some attorneys that we work with, um, 20 00:00:49.785 --> 00:00:51.405 you know, also some of the brokers we work with. 21 00:00:51.405 --> 00:00:52.605 Meeting some new brokers is always great. 22 00:00:52.885 --> 00:00:55.285 I come here to, you know, majority of the reason I come is 23 00:00:55.285 --> 00:00:57.845 to meet funders to kinda make those relationships. 24 00:00:57.905 --> 00:00:59.725 Hey, if you have a deal that I'm in 25 00:00:59.725 --> 00:01:00.925 or I'm in a deal that you see 26 00:01:00.985 --> 00:01:02.765 that's having a problem, let's help each other out. 27 00:01:03.225 --> 00:01:06.485 Um, but it's always nice to come and see guys like you 28 00:01:06.745 --> 00:01:09.085 and, uh, be able to, you know, shoot the s**t 29 00:01:09.085 --> 00:01:10.165 with people and, and connect. 30 00:01:11.025 --> 00:01:12.725 So lemme ask you this. So someone 31 00:01:12.725 --> 00:01:14.165 that's ever been at a B2B Expo, 32 00:01:14.315 --> 00:01:16.725 what would you say the experience is like? 33 00:01:18.885 --> 00:01:21.325 I mean, it's a, it's a niche industry, right? 34 00:01:21.505 --> 00:01:23.085 So it's like one big family. 35 00:01:23.145 --> 00:01:24.205 You have to look at it that this 36 00:01:24.205 --> 00:01:25.285 is not a competitive market. 37 00:01:25.785 --> 00:01:27.005 You can't look at it if it's like that. 38 00:01:27.025 --> 00:01:27.845 It can't be I'm 39 00:01:27.845 --> 00:01:29.165 competing with you and you're competing with me. 40 00:01:29.675 --> 00:01:32.925 There's enough to go around for everybody and more plenty. 41 00:01:33.545 --> 00:01:36.165 So it's the allies and the relationships. 42 00:01:36.955 --> 00:01:38.965 Even if you are in the same department, 43 00:01:38.965 --> 00:01:40.565 if you're the same funder, you're a broker. 44 00:01:40.905 --> 00:01:42.405 If there are people that you can help, 45 00:01:42.795 --> 00:01:44.405 that they can help you and you can help them, 46 00:01:44.795 --> 00:01:46.725 it's beneficial to build bridges always, 47 00:01:46.855 --> 00:01:48.005 especially places like this. 48 00:01:48.825 --> 00:01:51.125 So you guys, I mean we've, 49 00:01:51.125 --> 00:01:52.565 we've highlighted you guys in the past. 50 00:01:53.195 --> 00:01:54.925 What makes you guys different than your competitors? 51 00:01:56.465 --> 00:01:59.125 Um, what really makes us stand out? 52 00:01:59.585 --> 00:02:02.125 Um, we're a true revenue based finance 53 00:02:02.805 --> 00:02:03.885 FinTech company, right? 54 00:02:03.885 --> 00:02:06.485 We're not just the technology, we're not just the funding. 55 00:02:06.585 --> 00:02:08.405 We can, we really combine the both. 56 00:02:09.065 --> 00:02:11.765 Um, and then we also utilize our data analytics 57 00:02:11.825 --> 00:02:14.005 to understand based on past transactional deals, 58 00:02:14.315 --> 00:02:15.605 what deals we should be doing. 59 00:02:16.495 --> 00:02:18.565 Deals that we did fund or we shouldn't be doing. 60 00:02:18.825 --> 00:02:22.565 And we use past aggregated data to give us understanding of 61 00:02:22.565 --> 00:02:24.445 what deals we should be looking for versus 62 00:02:24.515 --> 00:02:25.565 what we were doing in the past. 63 00:02:26.185 --> 00:02:27.925 And then for people that are watching this, uh, 64 00:02:28.025 --> 00:02:30.925 and they're interested in coming, they're, they want to know 65 00:02:30.925 --> 00:02:32.285 what they're gonna get outta coming here. 66 00:02:32.715 --> 00:02:33.715 What would you say to them? 67 00:02:35.915 --> 00:02:39.885 Come with a, come with a, a goal, right? 68 00:02:40.145 --> 00:02:41.165 Say I'm gonna connect. 69 00:02:41.345 --> 00:02:43.325 I'm gonna collect 20 business 70 00:02:43.325 --> 00:02:44.525 cards of people that I'm gonna do business with. 71 00:02:45.085 --> 00:02:46.085 'cause there's a lot of distractions. 72 00:02:46.085 --> 00:02:48.925 There's funders, there's brokers, there's technology, 73 00:02:49.035 --> 00:02:50.885 there's collection agencies, there's lawyers. 74 00:02:51.305 --> 00:02:53.445 So there's a lot of different people come with a mindset, 75 00:02:53.515 --> 00:02:55.845 come with a goal, don't just come like, I'm going 76 00:02:55.845 --> 00:02:57.245 because, right? 77 00:02:57.665 --> 00:02:58.765 Um, and, and, 78 00:02:58.785 --> 00:03:01.205 and you know, for us, you know, 79 00:03:01.205 --> 00:03:04.325 to touch upon your other topic, you know, 80 00:03:04.875 --> 00:03:08.045 this industry has changed and has evolved exponentially. 81 00:03:08.185 --> 00:03:09.725 You know, like I said before, I was, you know, 82 00:03:09.725 --> 00:03:12.645 here since the beginning or since the beginning of the bank, 83 00:03:12.945 --> 00:03:14.205 the amount of people that have come and gone, 84 00:03:14.555 --> 00:03:16.165 it's incredible, right? 85 00:03:16.515 --> 00:03:18.405 Some people are still in business, some people are not. 86 00:03:18.405 --> 00:03:20.245 But the turnover is extremely high. 87 00:03:20.385 --> 00:03:22.365 And one of the main reasons why we come every time is 88 00:03:22.535 --> 00:03:23.725 we're still here, right? 89 00:03:24.225 --> 00:03:27.005 Um, and I personally believe 90 00:03:27.005 --> 00:03:28.605 that there are a few reasons why we're still 91 00:03:28.605 --> 00:03:29.965 around and we're thriving. 92 00:03:31.345 --> 00:03:35.445 Key focus for us and for me is four things, four contexts. 93 00:03:35.445 --> 00:03:36.925 Number one, my team. 94 00:03:37.305 --> 00:03:39.725 Our average, uh, retention is over four and a half years. 95 00:03:40.065 --> 00:03:41.605 Why? Because we take really good care of our team 96 00:03:41.605 --> 00:03:45.205 and we hire extremely slow and fire fast, no questions. 97 00:03:45.345 --> 00:03:48.845 Number two is I focus on three constants. 98 00:03:48.845 --> 00:03:52.245 Something that I hyperfocus on every single day. 99 00:03:52.745 --> 00:03:54.045 And that's three things. Number one, 100 00:03:54.605 --> 00:03:57.045 I never really anticipate a broker 101 00:03:57.425 --> 00:03:59.125 or a merchant coming over to us and saying, 102 00:03:59.185 --> 00:04:02.245 or coming over to me and saying, Jay, I love velocity. 103 00:04:02.965 --> 00:04:05.325 I love you guys, but I wish your 104 00:04:05.325 --> 00:04:06.365 terms were just a little shorter. 105 00:04:08.125 --> 00:04:10.565 I love velocity. I just wish your 106 00:04:10.565 --> 00:04:11.685 rates were a little higher. 107 00:04:13.165 --> 00:04:16.125 I love velocity. I wish your commissions were not as much. 108 00:04:16.525 --> 00:04:18.845 I love velocity. I just wish, you know, 109 00:04:19.075 --> 00:04:20.925 your offers were a little bit slower, 110 00:04:20.925 --> 00:04:22.485 you're just doing it really too quickly, right? 111 00:04:22.665 --> 00:04:24.805 So we focus on the constants of things 112 00:04:24.805 --> 00:04:26.645 that we can consistently improve 113 00:04:26.715 --> 00:04:28.405 because we know everybody wants cheap rates. 114 00:04:28.545 --> 00:04:29.965 We know everyone wants long terms. 115 00:04:30.345 --> 00:04:32.045 We know everybody wants the highest conditions. 116 00:04:32.185 --> 00:04:33.925 We know everyone wants speed and efficiency. 117 00:04:34.665 --> 00:04:35.765 That's what we focus on. 118 00:04:36.205 --> 00:04:37.525 'cause we know that today that's 119 00:04:37.525 --> 00:04:38.605 a, that's something that everyone wants. 120 00:04:38.785 --> 00:04:39.965 And in 20 years from now, 121 00:04:39.965 --> 00:04:41.645 that's the same thing that people will want. 122 00:04:41.665 --> 00:04:44.485 So when we hyper focus on that, that allows us 123 00:04:44.485 --> 00:04:45.805 to be ahead of the curve in the industry. 124 00:04:46.115 --> 00:04:49.285 Awesome. Jay, I love that you said come here with a goal. 125 00:04:49.565 --> 00:04:51.045 'cause I think you're right. It's very easy 126 00:04:51.065 --> 00:04:54.165 to get distracted and then it's very easy to just get lost 127 00:04:54.385 --> 00:04:58.405 and then, you know, you don't end up being here next year 128 00:04:58.405 --> 00:05:00.485 or two years from now because you don't have a vision, 129 00:05:00.485 --> 00:05:02.285 you don't have a goal, but you've always been good at that. 130 00:05:02.385 --> 00:05:04.365 So I appreciate you sharing that piece of wisdom 131 00:05:04.585 --> 00:05:05.605 to the people watching this. 132 00:05:06.025 --> 00:05:08.245 So thanks Jay. Thanks so much for everything. Thanks. 133 00:05:08.245 --> 00:05:11.325 Always likewise. So again, Jay's biggest piece of advice is 134 00:05:11.325 --> 00:05:14.045 that if you come to the B2B Expo, make sure you come 135 00:05:14.045 --> 00:05:16.725 with the goal and you accomplish that goal when you're here.