00:00.330 --> 00:02.940 Oz Konar: All right, today I'm going to answer two questions 00:02.940 --> 00:05.760 that I get quite a bit. And I thought it would be a good idea 00:05.760 --> 00:09.480 to do this through through my YouTube channel. So the first 00:09.480 --> 00:14.070 question, as you can tell from the title is, is there longevity 00:14.070 --> 00:17.190 in this industry merchant, will merchant cash advance industry 00:17.190 --> 00:21.240 be around for a long, long period of time? The second 00:21.240 --> 00:24.990 question is, is this industry saturated? Is it just too 00:24.990 --> 00:28.530 saturated that you key is not even worth going after? And 00:28.530 --> 00:31.590 getting into? So we're going to answer those two questions 00:31.830 --> 00:35.250 today. And I think it's going to help a lot of you guys who are 00:35.250 --> 00:39.450 considering one considering to get into the industry, to who's 00:39.450 --> 00:42.150 already industry maybe and you've been exposed to the wrong 00:42.180 --> 00:47.040 type of information. And three, learn more about how to go about 00:47.040 --> 00:50.400 or like once you have, the thing with the information is, once 00:50.400 --> 00:53.250 you learn, we, once you have access to the right information, 00:53.340 --> 00:55.560 you got to do something with it, right? If you're not doing 00:55.560 --> 00:59.070 anything with that information, then it's useless. So if you're 00:59.070 --> 01:01.110 not going to do anything with this, I suggest you save 01:01.110 --> 01:03.630 yourself the next couple of minutes. And don't go through 01:03.630 --> 01:06.150 this because it's not going to help you. But if you're if you 01:06.150 --> 01:09.300 already made up your mind about taking action and being in this 01:09.300 --> 01:13.110 business, we just have this, these like hanging questions, 01:13.290 --> 01:16.950 whether this industry will be around for another five years, 01:16.980 --> 01:20.490 10 years, 20 years? Or if the industry is too saturated? Are 01:20.490 --> 01:24.000 you getting into a very saturated industry, that you 01:24.000 --> 01:27.390 know your chances of survival success is very low, you're 01:27.390 --> 01:31.590 gonna find that that's a valid concern or not. So well as an 01:31.590 --> 01:35.700 entrepreneur, whenever I deal with a question or something 01:35.880 --> 01:40.290 that's in my mind that I'm looking for a proper response 01:40.290 --> 01:45.840 for, I try to separate it from how I feel about the situation, 01:45.840 --> 01:49.800 I want to look at certain metrics and numbers in order for 01:49.800 --> 01:53.490 me to get the right information. Because as I always say, your 01:53.490 --> 01:56.610 source of information is very, very important. Because if your 01:56.610 --> 02:00.000 source information is a bunch of your friends and buddies who 02:00.030 --> 02:02.820 maybe dabbled in the industry, or maybe they thought about it, 02:02.820 --> 02:06.210 or they heard someone say something, that's not a reliable 02:06.210 --> 02:10.320 information for you to base your conclusion, right? Because when 02:10.320 --> 02:12.510 you have a question in your mind, the way our brain 02:12.510 --> 02:16.530 operates, you ask the question to your brain, your brain is it 02:16.530 --> 02:20.820 looks for ways to get the response back to you. If it has 02:20.820 --> 02:24.150 the answer, it's going to find it and give it to but a lot of 02:24.150 --> 02:27.990 times this whole process works based on how you feel about the 02:27.990 --> 02:32.040 situation. So I want to clear away the feelings from it and 02:32.040 --> 02:37.050 look at the numbers strictly. So let's tackle the first question. 02:37.680 --> 02:40.260 Is there longevity in this industry? Will this industry be 02:40.260 --> 02:45.150 around for a long time? So let's ask this question a different 02:45.150 --> 02:49.800 way. What decides if an industry will be around or not? Right? 02:49.800 --> 02:52.110 That's a different way to look at that question, what 02:52.110 --> 02:56.760 determines the existence of an industry so if I look at 02:57.450 --> 03:02.730 merchant cash advance industry, I always want to look at from a 03:02.730 --> 03:06.330 broader perspective, I want to look at alternative lending in 03:06.330 --> 03:10.710 the chute because Merchant Cash Advance is a product as a one of 03:10.710 --> 03:14.790 the small products, so the entire an alternative lending 03:14.850 --> 03:17.550 space. So we got to look at alternative lending 03:17.550 --> 03:20.820 collectively. So when I look at it, how do we answer this 03:20.820 --> 03:23.760 question? What drives the demand? What drives the 03:23.760 --> 03:27.870 existence of this industry? Well, the answer is demand. 03:27.960 --> 03:31.920 Right? So if there is demand from businesses for alternative 03:31.920 --> 03:36.060 lending products, then this industry will exist until that 03:36.060 --> 03:40.830 demand is still there. If one day that demand disappears, then 03:40.830 --> 03:44.730 there's no need for this for this industry. So now we get 03:44.730 --> 03:49.110 that baseline right. So we know that the currently there is this 03:49.110 --> 03:54.330 industry is around and you know, every single day, a couple of 03:54.360 --> 03:58.530 million dollars in commissions are being generated, millions of 03:58.530 --> 04:01.110 dollars of commission is generated through alternative 04:01.110 --> 04:06.420 lending. That's every single day. And that's that's just 04:06.450 --> 04:09.900 happens through like, these are individuals making that money, a 04:09.900 --> 04:14.820 lot of my members getting deals funded and small companies, big 04:14.820 --> 04:17.490 companies, anyone and alternative alternative lending 04:17.490 --> 04:21.630 industry, people are making millions per day, not per month 04:21.630 --> 04:22.950 or per per year. Right? 04:23.100 --> 04:26.970 So what's driving that is the is the demand from the businesses 04:26.970 --> 04:31.530 who want funding. So for that to disappear, something needs to 04:31.530 --> 04:35.460 happen, right? So the way if you look at this from a scientific 04:35.490 --> 04:38.760 scientific through scientific method, we got to we got to do a 04:38.760 --> 04:41.820 little experimentation and kind of break it down before we build 04:41.820 --> 04:46.350 it up again. So the belief that the some that she might not 04:46.350 --> 04:50.610 exist, comes from the fear the root of fear, right that all 04:50.610 --> 04:54.240 young people people might not need merchant cash advance or 04:54.240 --> 04:58.170 alternative product or lending products. So for that to happen 04:58.260 --> 05:02.940 a major massive shift needs to happen, let's understand who who 05:02.940 --> 05:06.150 gets these products anyways, who's a good candidate for 05:06.150 --> 05:09.030 alternative lending products, including merchant cash advance, 05:09.210 --> 05:12.900 and I'm going to use a little tool here to draw. So that way 05:12.900 --> 05:20.130 we have our more visuals than than just my face. So give me a 05:20.130 --> 05:28.980 second. I'm just gonna share my screen here. There we go. So I'm 05:28.980 --> 05:32.940 using this little tool. Let's answer let's tackle the first 05:32.940 --> 05:35.550 question. First question if the industry will be around in a 05:35.550 --> 05:38.280 long time. So if you want to get into a business, you want to 05:38.280 --> 05:41.160 make sure that that industry will stay as long as you're 05:41.160 --> 05:44.700 around. And you can take advantage of that. And just like 05:44.700 --> 05:47.850 anything, everything has a lifetime, right? So no one can 05:47.850 --> 05:51.690 claim that x industry will be around forever. But if I if 05:51.690 --> 05:54.960 we're as a business responsible business owners, our job is to 05:54.960 --> 05:58.950 predict the near future, what's going to happen. So I'm going to 05:58.980 --> 06:04.080 use a L for alternative lending. And if I use this, who's the 06:04.080 --> 06:09.150 target audience for that target audience is SBA, sorry, small 06:09.150 --> 06:13.170 businesses, right? So most of them is small businesses, who is 06:13.170 --> 06:20.280 small business, small business is 75% of the businesses in us. 06:20.790 --> 06:26.970 So there's this massive market demands funding? And the the 06:26.970 --> 06:30.300 question is, then why why haven't they gotten their 06:30.300 --> 06:33.780 funding through the banks, right? Instead of going through 06:33.780 --> 06:37.950 alternative lending? Why haven't why haven't been getting their 06:37.950 --> 06:40.980 funding through the banks, instead of dealing with a 06:40.980 --> 06:44.730 merchant cash advance brokers or business loan brokers and things 06:44.730 --> 06:47.760 like that, that's the natural inclination, right? If a small 06:47.760 --> 06:52.890 business, your deli down the street needs $30,000, the logic 06:53.220 --> 06:56.370 would dictate that they would go down to their local credit union 06:56.370 --> 06:59.880 or their small bank or their Wells Fargo Bank of America and 06:59.880 --> 07:06.180 ask for these loans. But the problem is 75% of these loan 07:06.180 --> 07:12.180 applications are decline by the banks. And why is that? So 07:12.180 --> 07:15.870 right, so let's drill deeper into this to find out why would 07:16.290 --> 07:21.390 banks in their right mind the client is something to to most 07:21.390 --> 07:25.860 of the businesses out there 70%, only 5% of the US economy is 07:25.860 --> 07:28.860 driven by small businesses, right? So you would think banks 07:28.860 --> 07:32.850 would be pretty stupid to decline these applications. So 07:32.850 --> 07:38.100 only one out of four gets funded. And even with that, that 07:38.190 --> 07:45.030 50% of these funded deals. They're not for the original 07:45.030 --> 07:48.510 amount they asked for. So this business, even though they got 07:48.510 --> 07:52.470 funded, they're not really happy, because it's not in the 07:52.470 --> 07:56.910 amount that they want it. So the problem is, banks, especially 07:56.910 --> 08:00.030 after the recession, that we've been through the bubble that 08:00.030 --> 08:04.020 burst the real estate bubble in 2008. They've been very strict 08:04.050 --> 08:07.920 on their funding. And don't forget that these are publicly 08:07.920 --> 08:12.420 owned companies usually, right? So they have to take very 08:12.420 --> 08:15.750 calculated risks and getting into alternative lending space 08:15.750 --> 08:19.920 for them is a high risk product that can cost them millions and 08:19.920 --> 08:23.610 millions, and if not billions of dollars per day of loss if they 08:23.610 --> 08:27.240 don't do it properly. So what do they do? Well, that the safe 08:27.960 --> 08:32.670 haven for them is pretty much mid size to large size 08:32.670 --> 08:37.110 businesses. So if I can draw L, so a midsize large sized 08:37.110 --> 08:41.790 businesses, and these are usually 50 plus employees, 08:41.820 --> 08:42.360 right? 08:43.740 --> 08:47.785 So these are 50 plus employees, and that's like the sweet spot 08:47.850 --> 08:51.634 for the banks. Why is that because the risk is much lower. 08:51.699 --> 08:55.549 And also these banks, they own a ton of real estate, right? 08:55.614 --> 08:59.529 They're really exposed and each branch, they have employees, 08:59.594 --> 09:03.313 each branch holds 10 plus employees per branch, they have 09:03.378 --> 09:07.293 to have hundreds of branches, they have to have a branch can 09:07.358 --> 09:11.207 pretty much any every town to access their customers almost 09:11.273 --> 09:15.057 right. So they have this many this many employees and real 09:15.122 --> 09:19.167 estate. So for them to excel, it makes a lot more sense to get 09:19.232 --> 09:22.886 into real estate and fund real estate deals. Fund larger 09:22.951 --> 09:26.996 companies, midsize to large size companies, then deal with Mom 09:27.062 --> 09:30.650 and Pop deli bagel store, construction company trucking 09:30.715 --> 09:34.565 company, that's why they pick they've become really, really 09:34.630 --> 09:38.479 strict, especially after 2008 because prior to that they've 09:38.545 --> 09:42.590 been funding real estate deals, quite liberally, and you know, 09:42.655 --> 09:45.983 they lost a lot of money. They've been saved by the 09:46.048 --> 09:49.767 government. They don't want to do the same thing. But the 09:49.832 --> 09:53.681 problem is then the demand does not change just because the 09:53.747 --> 09:57.596 banks cannot provide funding your small business. The small 09:57.661 --> 10:01.641 businesses need for additional 20 3040 50,000 is not going to 10:01.706 --> 10:05.686 change because they still need that money because why because 10:05.752 --> 10:09.536 they need to improve their physical location, they need to 10:09.601 --> 10:13.320 buy a new fridge, they need to make payroll, they need to 10:13.385 --> 10:17.169 invest, they need to buy the next door neighbor and things 10:17.235 --> 10:21.215 like that they need the money. That's why alternative lending 10:21.280 --> 10:25.325 is in such demand. So if we go by the numbers, again, the size 10:25.390 --> 10:29.435 of this industry, again, it's very difficult to put definitive 10:29.501 --> 10:33.611 number together since these are private companies. But based on 10:33.676 --> 10:37.852 if you consider all the products within alternative lending, and 10:37.917 --> 10:41.701 we're talking about more than 12 products, the size of the 10:41.766 --> 10:45.812 industry is 50 to 300 billion with a B. So what does this mean 10:45.877 --> 10:50.053 if that if we compare it against what is being funded currently, 10:50.118 --> 10:53.250 so that means that's less than 1% of the market. 10:53.250 --> 10:56.594 And I challenge you, if you drive down the strip mall, 10:56.656 --> 11:00.434 nearest your home and walk into 20 businesses and ask them if 11:00.496 --> 11:03.840 they know about equipment, leasing, if they know about 11:03.902 --> 11:07.804 merchant cash advance, most of them will have no idea about the 11:07.866 --> 11:11.768 existence of these products. So this kind of allows me to segue 11:11.829 --> 11:15.236 into the second part of the question. First part of the 11:15.298 --> 11:18.766 question, Will this industry survive in the long term? I 11:18.828 --> 11:22.110 think we kind of answered this right. So what kind of 11:22.172 --> 11:25.888 conclusion and we answer this in a scientific manner kind of 11:25.950 --> 11:29.295 breaking down? So what conclusion do we draw draw from 11:29.357 --> 11:33.135 the first first first question? To answer the first question? 11:33.196 --> 11:36.479 Well, if there's this much demand, if the banks whose 11:36.541 --> 11:40.195 primary goal is to supply that the man is not able to do it 11:40.257 --> 11:44.159 with this decline rate, do you think this industry will go away 11:44.221 --> 11:48.122 anywhere anytime soon. Because whenever there is massive demand 11:48.184 --> 11:52.086 for something, and that thing is going to go out and just gonna 11:52.148 --> 11:55.988 disappear, it has to be must be replaced by something else. If 11:56.050 --> 11:59.952 alternative lending or merchant cash advance or other products, 12:00.014 --> 12:03.977 if they if they will disappear, there has to be something that's 12:04.039 --> 12:07.631 going to replace it. Why? Because of the demand. If demand 12:07.693 --> 12:11.471 does not disappear, then there has to be supply of something. 12:11.533 --> 12:15.001 Since we're supplying very little over this right now. I 12:15.063 --> 12:18.903 don't see any way and under any condition, this industry going 12:18.965 --> 12:22.619 disappearing anywhere, right? It's going to be around for a 12:22.681 --> 12:26.459 while. So don't let that be your excuse for not starting this 12:26.521 --> 12:30.361 business. Because that's that's not an investment and does not 12:30.423 --> 12:34.201 even exist, we're not even close to, you know, the, you know, 12:34.263 --> 12:37.979 having this industry disappear tomorrow, or the demand going 12:38.041 --> 12:41.757 low. And you know, the other question is, what if the demand 12:41.819 --> 12:45.411 goes down? Right, right now? Yeah. This is the number four 12:45.473 --> 12:49.251 now. So what if the demand goes down? So let's think about it 12:49.312 --> 12:52.719 for a second, how would the demand go down? So when you 12:52.781 --> 12:56.683 think of small businesses, how would we get in a position, that 12:56.744 --> 13:00.399 small business world that's driving 75% of the economy, all 13:00.460 --> 13:04.362 of a sudden, they're gonna tell us, you know, what we have, you 13:04.424 --> 13:08.202 have all the money we need, we don't have any money problems, 13:08.264 --> 13:11.856 we have access to capital with no problems and things like 13:11.918 --> 13:15.510 that. So that means somehow magically, we're going to have 13:15.572 --> 13:19.102 the entire industry will stop needing money. I don't know 13:19.164 --> 13:23.128 about you, but at least for the next four or five years, I don't 13:23.190 --> 13:26.472 think any economist is predicting that if anything is 13:26.534 --> 13:30.188 the opposite. So if you look at the certain metrics, we're, 13:30.250 --> 13:33.657 we're experiencing over 10 experience we're going to be 13:33.719 --> 13:37.435 experiencing or 10% growth in demand and alternative lending 13:37.497 --> 13:41.151 until 2023, which is four years from now. So every year 10% 13:41.213 --> 13:44.805 growth is a massive amount of growth every single year. So 13:44.867 --> 13:48.459 economists predicting that so I don't think we're going to 13:48.521 --> 13:52.113 reverse that. And all of a sudden, small businesses do not 13:52.175 --> 13:55.891 need money. That's the first way. The second way that demand 13:55.953 --> 13:59.916 would drop is if something else is supplying that demand. So all 13:59.978 --> 14:03.261 of a sudden, banks start offering alternative lending 14:03.323 --> 14:06.915 products and merchant cash advance. And some, for example, 14:06.977 --> 14:10.693 private companies, I'm sorry, the big companies, but they're 14:10.755 --> 14:14.285 not banks like PayPal, they're currently offering working 14:14.347 --> 14:18.311 capital, than some of the banks are kind of getting into it. But 14:18.373 --> 14:22.150 for them to supply this demand and make this a bigger part of 14:22.212 --> 14:25.743 their business is impossible, because of the risk factors 14:25.805 --> 14:29.211 involved and their size. And like, Do you know how much 14:29.273 --> 14:32.741 effort it takes for a Bank of America to implement a new 14:32.803 --> 14:36.581 product, it takes them millions and millions of dollars to do 14:36.643 --> 14:40.173 that, and it takes massive decision making and there's no 14:40.235 --> 14:43.951 way they're going to be able to saturate this market because 14:44.013 --> 14:48.039 they still want a bigger part of their portfolio to be this sweet 14:48.101 --> 14:51.878 spot for them. Half a million dollar PLUS loans posted, sent, 14:51.940 --> 14:55.656 funded. So that's that's the bigger part of their portfolio. 14:55.718 --> 14:59.558 So for that reason, they're not going to even consider that to 14:59.620 --> 15:03.460 be the bulk of their business side. Then we answered the first 15:03.522 --> 15:07.238 part of the question. So let's go through the second part of 15:07.300 --> 15:11.078 the question, which is is this industry saturated? I think we 15:11.140 --> 15:14.918 clear that. But I want to kind of touch on that a little bit. 15:14.980 --> 15:18.819 So while I'm raising this, where does this question come from? 15:18.881 --> 15:22.721 Right, let's, let's get to the bottom of this, like, why would 15:22.783 --> 15:26.190 someone want to know if this industry saturated or not? 15:26.190 --> 15:29.242 One is, they're looking for a reason not to do anything, 15:29.296 --> 15:32.675 right? They maybe they want to get into the business, but they 15:32.730 --> 15:36.109 they're looking for proof to say to themselves, you know what, 15:36.163 --> 15:39.597 man, I would so do this. But the industry is just so saturated. 15:39.652 --> 15:42.595 If the industry wasn't saturated, I would certainly be 15:42.649 --> 15:45.756 doing this and make a ton of money, right? That's just an 15:45.810 --> 15:49.135 excuse. That just doesn't, does not exist. So if it is not an 15:49.190 --> 15:52.514 excuse, it's a valid concern, then that what is it come from? 15:52.569 --> 15:55.730 Right, then we gotta get to answer that question. So if it 15:55.784 --> 15:58.782 is the first one, I don't really, I'm not going to take 15:58.836 --> 16:02.052 time to answer because I don't if someone is looking for an 16:02.107 --> 16:05.595 excuse not to do something, that they're just going to not going 16:05.649 --> 16:09.137 to do it. Right. Simple as that. But if there's a second part, I 16:09.192 --> 16:12.735 want to make sure that I address that. The second question is, is 16:12.789 --> 16:16.223 the industry really saturated? Right? So let me share my screen 16:16.277 --> 16:19.493 so we can get this going. All right. So what is the what is 16:19.547 --> 16:21.510 the source of that? Second question? 16:21.510 --> 16:24.758 Well, it could be maybe you work for a merchant cash advance 16:24.813 --> 16:28.116 company before, or maybe you talk to your buddies who started 16:28.170 --> 16:30.769 merchant cash advance businesses, and you you're 16:30.823 --> 16:33.964 talking to them, and they're saying, oh, boy, man, this is 16:34.018 --> 16:37.321 this industry is like, there's so many people getting in. And 16:37.375 --> 16:40.245 this industry is just so saturated. And when you hear 16:40.299 --> 16:43.765 that feedback, when I challenge you to do is to figure out where 16:43.819 --> 16:47.177 that's coming from, how do they draw that conclusion? Usually, 16:47.231 --> 16:50.101 they draw the conclusion, because they've been on the 16:50.155 --> 16:53.458 phone all day long, they feel miserable about their business, 16:53.512 --> 16:56.869 but they're dialing 300 phone calls, 400 phone calls a day, or 16:56.923 --> 17:00.064 they have a team of people doing that, right. So what that 17:00.118 --> 17:03.367 happens is, when you're calling that many people, you got to 17:03.421 --> 17:06.725 figure out who you're calling. So for that reason, you got to 17:06.779 --> 17:10.190 buy data, right? You got to buy data from a data source to call 17:10.244 --> 17:13.547 these people, where do the data sources get their leads from? 17:13.602 --> 17:16.905 Well, they buy bulk data, and just they chunk it up, and they 17:16.959 --> 17:20.100 sell it to people like your friends who maybe have been in 17:20.154 --> 17:23.349 this industry, and they sell that data over and over again, 17:23.403 --> 17:26.706 because that's their source of income, right? They can't just 17:26.760 --> 17:30.117 keep generating fresh data, a lot of times they got to do with 17:30.171 --> 17:33.312 what they what they have, and they sell that data over and 17:33.366 --> 17:36.345 over and over again to other providers, other ISOs, and 17:36.399 --> 17:39.431 people call on it. So what happens when you buy the same 17:39.485 --> 17:42.951 data and call on the same people over and over again? Well, then 17:43.005 --> 17:45.929 yeah, then you have the wrong perception that there is 17:45.983 --> 17:49.341 saturation. Because don't forget that these are both of people 17:49.395 --> 17:52.590 have been receiving phone calls from 50 other people. So if 17:52.644 --> 17:56.001 you're the next person getting on the phone with them, they're 17:56.055 --> 17:59.196 not going to treat you very nicely as you can imagine. And 17:59.250 --> 18:02.282 that's going to give you the idea, the conclusion, wrong 18:02.336 --> 18:05.044 conclusion that Oh, wow, everyone knows about this 18:05.098 --> 18:08.455 product, like everyone out there is selling it, everyone knows 18:08.510 --> 18:11.488 about it, everyone's not interested that that that also 18:11.542 --> 18:14.737 means that the industry is saturated, right? So look at how 18:14.791 --> 18:18.094 flawed, that process was right? Got your information with the 18:18.148 --> 18:21.289 wrong sources, you draw wrong conclusion by looking at the 18:21.343 --> 18:24.700 wrong sample size. So if you go back to the previous question, 18:24.755 --> 18:27.949 you notice that we're barely funding in 1% of what's what's 18:28.004 --> 18:31.144 being demand. So is there is there even a possibility that 18:31.198 --> 18:34.393 this industry might be even close to getting saturated? No, 18:34.447 --> 18:37.696 not at all. So if you change your perspective, and look, you 18:37.750 --> 18:41.216 know, a lot of people cannot see the forest from the trees right 18:41.270 --> 18:44.573 there. Look at that one like that. Did you read that stare at 18:44.628 --> 18:47.660 one tree. And that's all they are, that's all their data 18:47.714 --> 18:50.584 sources, pretty much. And they're drawing conclusions 18:50.638 --> 18:54.158 based on that. So if you go with actual data, I can tell you that 18:54.212 --> 18:57.623 we're not even close to close to saturation, certain industries 18:57.678 --> 19:01.035 are like that, right? Saturated, you're just getting into that 19:01.089 --> 19:04.230 business requires a lot of hustle in this industry, you're 19:04.284 --> 19:07.641 offering the sexiest product to your customers, which is money 19:07.695 --> 19:10.836 to small businesses, and we're in an environment that they 19:10.890 --> 19:13.977 can't get it, you know, their way of getting it through a 19:14.031 --> 19:16.955 bank. And if the banks are declining them because bank 19:17.009 --> 19:20.204 wants to perfect customer, right? They need to have a great 19:20.258 --> 19:23.236 credit, they need to have collateral, they need to have 19:23.291 --> 19:26.485 assets, they need to be in business for a certain amount of 19:26.539 --> 19:29.951 time, they need to be generating X amount of dollars. Like like 19:30.005 --> 19:33.092 for a small business, if they had all of that go on, they 19:33.146 --> 19:36.395 wouldn't have needed the money. So it's almost like that. So 19:36.449 --> 19:39.590 when you when we're in that environment, saturation is not 19:39.644 --> 19:42.784 your problem. There's because there it just doesn't exist. 19:42.839 --> 19:46.196 Again, just talk to the business owners that you know, if they 19:46.250 --> 19:49.716 know about alternative lending, if they know about the products, 19:49.770 --> 19:53.073 I guarantee you most of them will have no idea. So saturation 19:53.127 --> 19:56.322 does not exist unless you're looking at a very small sample 19:56.376 --> 19:59.517 size. And just assuming that that's what the market is The 19:59.571 --> 20:02.874 market is much different than that. There are many businesses 20:02.928 --> 20:06.069 who would do great things with their business, if they had 20:06.123 --> 20:09.318 access to capital. I mean, we even have funding options for 20:09.372 --> 20:12.188 startups, like someone if someone does not even have 20:12.242 --> 20:15.653 business, but then they need to get the funding they need. And, 20:15.708 --> 20:19.119 you know, to start a business, try to get that from a bank, try 20:19.173 --> 20:22.422 to get a startup loan from a bank and see what happens. It's 20:22.476 --> 20:25.725 almost impossible. Right? How about equipment? If someone is 20:25.779 --> 20:28.812 buying an equipment, why, why why would they not get any 20:28.866 --> 20:30.870 equipment funding for that equipment? 20:30.870 --> 20:34.254 If someone is doing bad credit wise, why would not be able to 20:34.309 --> 20:37.638 offer them something, even for someone with a bad credit? So 20:37.694 --> 20:41.189 there's so many things that you can do. But one thing you don't 20:41.245 --> 20:44.352 want to do is just focus on let's say, the merchant cash 20:44.407 --> 20:47.791 advance product that on and only know about that product? And 20:47.847 --> 20:51.287 only offer that? Why is that a problem? Because then you can't 20:51.342 --> 20:54.949 be a consultant, if all you know is one product? How can you be a 20:55.004 --> 20:58.166 trusted adviser to small businesses, you can because your 20:58.222 --> 21:01.606 favorite one product is just going to a doctor who has a deal 21:01.662 --> 21:04.991 with a pharmaceutical company to offer one drug only. If you 21:05.046 --> 21:08.486 have, you know a headache, you get the same thing. If you have 21:08.542 --> 21:11.538 a stomach problem, you get the same thing. If you need 21:11.593 --> 21:15.033 colonoscopy, you get the same medication, whatever you need to 21:15.088 --> 21:17.918 keep getting the same medication. So how much if we 21:17.973 --> 21:20.803 How long before you start doubting this doctors and 21:20.858 --> 21:23.965 pensions, because someone is playing with your with your 21:24.021 --> 21:27.294 health. Same thing with the businesses, you're playing with 21:27.350 --> 21:30.790 the most important thing, they have their finances. And if all 21:30.845 --> 21:34.230 you have is just one product, which might be a might not be a 21:34.285 --> 21:37.725 good fit for them, you can cause a lot of trouble to them. And 21:37.780 --> 21:41.331 you're not going to be a trusted advisor for that, right. That's 21:41.387 --> 21:44.660 why most people who join my program, they're a good fit for 21:44.716 --> 21:48.100 that, because they don't just think short term interest. They 21:48.155 --> 21:51.373 don't just think, Oh, how much money can I make right away 21:51.429 --> 21:54.702 because as you can see on my channel, there are many people 21:54.758 --> 21:58.364 who start generating results and getting getting deals funded and 21:58.419 --> 22:01.416 making very high levels of commission within the first 22:01.471 --> 22:04.689 month. But in business if you're truly entrepreneurial, of 22:04.744 --> 22:07.796 course, you want to start funding deals first month and 22:07.851 --> 22:11.402 build your business. But you got to also see the long game. What 22:11.458 --> 22:14.676 are you going to be doing with your business? What are you 22:14.731 --> 22:18.282 going to be doing with your with your with your clients, because 22:18.337 --> 22:21.389 the hustle is not the name of the game hustle is only a 22:21.444 --> 22:24.995 temporary experience that you go through until you build up your 22:25.051 --> 22:28.380 business once your businesses built up that you need to have 22:28.435 --> 22:31.598 systems in place to take over you make a Collaborate your 22:31.653 --> 22:34.926 systems into our business and they took take over a certain 22:34.982 --> 22:38.089 percentage of what you do. So business is predictable in 22:38.144 --> 22:41.418 business predictability is the is the differentiator is the 22:41.473 --> 22:44.691 game changer, that you don't want to have a roller coaster 22:44.747 --> 22:48.187 one month you're doing great. Next one you're not doing right, 22:48.242 --> 22:51.404 you're gonna give yourself a heart attack, it's just very 22:51.460 --> 22:55.066 difficult to operate under those conditions are creating a lot of 22:55.122 --> 22:58.562 stress. Yet most people that you probably get your information 22:58.617 --> 23:01.946 from is living that every single day, they just go through a 23:02.001 --> 23:05.386 telemarketing, they hire more people than do their best heavy 23:05.441 --> 23:09.048 hitter hits on them tomorrow and goes working for some some other 23:09.103 --> 23:12.598 company that goes your marketing and sales sales funnel because 23:12.654 --> 23:15.983 that guy takes it with him. And that's that's the end of the 23:16.038 --> 23:19.034 story. And then you start complaining about well, this 23:19.090 --> 23:22.585 industry is just saturated man, people kind of backstab you and 23:22.641 --> 23:25.969 they leave you and things like that, that has pretty much no 23:26.025 --> 23:29.465 basis in the grander scheme of things. So when you look at the 23:29.520 --> 23:32.516 entire business model of alternative lending our whole 23:32.572 --> 23:35.956 industry, it is much bigger, much bigger than you can conquer 23:36.012 --> 23:39.452 through just having people dial the same old list. Plus, we're 23:39.507 --> 23:43.002 not in 90s anymore, like dialing for dollars and just you know, 23:43.058 --> 23:46.442 packing your basement, but you know human bodies, dialing 300 23:46.498 --> 23:50.104 people 400 people a day is going to be only effective, it's going 23:50.159 --> 23:53.377 to only be effective if you combine it with something else 23:53.433 --> 23:56.429 like online marketing, right? Online presence is super 23:56.484 --> 23:59.980 important. So whether you want to build a massive organization, 24:00.035 --> 24:03.586 or whether you want to just work from home and generate a couple 24:03.642 --> 24:06.915 of $1,000 per month, you got to condition yourself to start 24:06.970 --> 24:10.577 thinking like a business, right? That's why I wanted to eliminate 24:10.632 --> 24:13.961 those two questions from your mind. You know, if that's been 24:14.017 --> 24:17.401 stopping you from getting into this business. So because they 24:17.456 --> 24:20.785 don't, they don't exist. So there's no saturation problem in 24:20.841 --> 24:24.447 this industry. And this industry is not going to go away anywhere 24:24.503 --> 24:27.887 as long as small businesses need funding because don't forget 24:27.942 --> 24:31.327 that you're offering the sexiest product on Earth. And either 24:31.382 --> 24:34.822 they need or they don't need it. Like that's why we don't like 24:34.878 --> 24:37.652 the process that I teach the sales process is very 24:37.707 --> 24:40.870 consultative doesn't require hard sale. You don't need to 24:40.925 --> 24:44.254 hard sell someone on why they need money, they need money or 24:44.310 --> 24:47.805 they don't need money as small businesses, they want more funds 24:47.860 --> 24:51.134 or No. If it is no then we're not going to sell them on why 24:51.189 --> 24:54.574 what they would do with more money like it's silly, right? So 24:54.629 --> 24:57.903 that's why it's important to have a consultative process in 24:57.958 --> 25:01.342 place and also have knowledge about different options. So you 25:01.398 --> 25:04.394 can be The true consultant and offer the not only find 25:04.449 --> 25:07.889 diagnosis, but also also offer the medication to alleviate the 25:07.945 --> 25:11.496 pain that they're going through right now. And you can't do that 25:11.551 --> 25:14.935 with just one one medication one product one solution. That's 25:14.991 --> 25:18.375 what is required from being a successful entrepreneur in this 25:18.431 --> 25:21.871 industry. So I hope this answers your questions. I know it's a 25:21.926 --> 25:25.200 little I won't I got into the numbers and things like that. 25:25.200 --> 25:28.576 I hope I didn't confuse you. But comment below if this makes 25:28.632 --> 25:31.783 sense. And also if you haven't done so, we have a lot of 25:31.839 --> 25:35.328 content on our on our YouTube channel, subscribe to my YouTube 25:35.384 --> 25:38.648 channel and I periodically create more content. So you can 25:38.704 --> 25:41.856 you can get notifications. Alright. Great to be with you 25:41.912 --> 25:45.175 guys. Looking forward to your comments and questions. Take 25:45.232 --> 25:46.020 care now. Bye.