- This file was automatically generated by VIMEO

0
00:00:00.300 --> 00:00:03.500
The question comes up quite often. How much can you make as

1
00:00:03.500 --> 00:00:06.500
 a broker in this business? Yeah, because it's a

2
00:00:06.500 --> 00:00:09.200
 commitment it is especially if it's a hundred percent commission. Yeah,

3
00:00:09.200 --> 00:00:12.700
 some companies pay base salary, right? But Jen

4
00:00:12.700 --> 00:00:15.300
 in general in sales. You need to know. What is the

5
00:00:15.300 --> 00:00:18.700
 upside? What can I make by putting my Blood Sweat

6
00:00:18.700 --> 00:00:21.000
 and Tears into this business. I'm going to

7
00:00:21.100 --> 00:00:22.800
 be a broker of somebody.

8
00:00:24.200 --> 00:00:27.600
I don't care if it's business loans or MCA equipment financing mortgages. Whatever

9
00:00:27.600 --> 00:00:30.700
 you want to know you want to know what's the potential and

10
00:00:30.700 --> 00:00:33.600
 there is not a lot of public data as

11
00:00:33.600 --> 00:00:36.900
 to what one can make yeah in the unsecured small

12
00:00:36.900 --> 00:00:39.200
 business finance space. It's one of those things

13
00:00:39.200 --> 00:00:42.600
 where you see there. The help wanted ads that say

14
00:00:42.600 --> 00:00:45.200
 makes six figures. Yeah, but you never really

15
00:00:45.200 --> 00:00:48.100
 meet the person who's making who's making right or you meet the person

16
00:00:48.100 --> 00:00:51.200
 is making it but you're not sure if it really making it Instagram makes it

17
00:00:51.200 --> 00:00:54.400
 look like they're making it. Yeah, but you're not sure there's no data. It's

18
00:00:54.400 --> 00:00:57.300
 one of those things where you're not really sure what the upside is.

19
00:00:57.300 --> 00:01:01.600
 So you kind of rely on what your friends are telling you. Yeah. Now we

20
00:01:00.600 --> 00:01:03.600
 have an actual chart. There was

21
00:01:03.600 --> 00:01:06.100
 a survey conducted a legitimate survey conducted Not

22
00:01:06.100 --> 00:01:09.300
 By Us by some other group that polled those in

23
00:01:09.300 --> 00:01:12.500
 the equipment Finance space equipment Finance Brokers. They

24
00:01:12.500 --> 00:01:15.900
 call them Originators. Right? What do you making in compensation?

25
00:01:15.900 --> 00:01:18.200
 They looked at sales people that were working

26
00:01:18.200 --> 00:01:21.700
 for Brokers. They looked at sales people that are working for actual lenders sales

27
00:01:21.700 --> 00:01:23.600
 people that were working for banks, right?

28
00:01:24.400 --> 00:01:28.100
But ultimately The Originators the Brokers the commissioned people

29
00:01:27.100 --> 00:01:30.500
 in the process, what are you making

30
00:01:30.500 --> 00:01:33.400
 and they put it all onto a chart for us which is

31
00:01:33.400 --> 00:01:36.300
 helpful because equipment financing in particular

32
00:01:36.300 --> 00:01:40.000
 equipment leasing that whole industry it overlaps with small

33
00:01:39.200 --> 00:01:42.400
 business lending and MCA and the

34
00:01:42.400 --> 00:01:45.500
 world that we talked about. Yeah, and so it's good to know if you can make

35
00:01:45.500 --> 00:01:46.400
 that kind of money over there.

36
00:01:47.400 --> 00:01:50.300
Either a you should add those products to your tool belt.

37
00:01:50.300 --> 00:01:53.400
 Yeah or two. Maybe you should

38
00:01:53.400 --> 00:01:56.200
 consider that that is the potential that you could make in

39
00:01:56.200 --> 00:01:59.200
 this industry on its own, right? Yeah. So now we

40
00:01:59.200 --> 00:02:02.200
 have a chart. Yeah. We have a chart. No, we do. We do

41
00:02:02.200 --> 00:02:02.900
 have a chart and

42
00:02:05.600 --> 00:02:08.100
I'm Gonna Let You Johnny struggles with

43
00:02:08.100 --> 00:02:11.100
 the pie chart? That's okay. We actually we included a link

44
00:02:11.100 --> 00:02:14.100
 to this chart online. We do not have our own. I don't think

45
00:02:14.100 --> 00:02:17.400
 we had our own seven article about it. I think we just linked to this chart. I think

46
00:02:17.400 --> 00:02:20.200
 we did. I may have shared it on Facebook to get

47
00:02:20.200 --> 00:02:23.300
 people's feedback on it. And you know what it was kind of the same thing where

48
00:02:23.300 --> 00:02:27.100
 people didn't really want to comment on it because they didn't want to give away either.

49
00:02:26.100 --> 00:02:29.200
 You know, that's not what I'm you know, that's not what I'm

50
00:02:29.200 --> 00:02:32.100
 making. Yeah what they don't maybe they're the owner of a company. That's not what

51
00:02:32.100 --> 00:02:35.200
 they're reps are making. Yeah. So even then when I shared this data

52
00:02:35.200 --> 00:02:38.300
 online people didn't really want to talk about it. Yeah, but too

53
00:02:38.300 --> 00:02:41.400
 bad. Yeah, we are going to talk about it right now. This is

54
00:02:41.400 --> 00:02:44.700
 what we learned. This is what Johnny was mentioning before that according

55
00:02:44.700 --> 00:02:45.300
 to this chart.

56
00:02:46.600 --> 00:02:49.800
Seven and a half percent of Originators salespeople,

57
00:02:49.800 --> 00:02:52.000
 whatever you want to call them and the equipment Finance space.

58
00:02:52.800 --> 00:02:56.600
Made less than under 75,000 in

59
00:02:55.600 --> 00:02:59.300
 annual compensation for 2022. That's

60
00:02:58.300 --> 00:03:02.200
 an extremely small percentage. Which

61
00:03:01.200 --> 00:03:04.300
 means that the rest are making

62
00:03:04.300 --> 00:03:07.700
 more than 75,000. That's good.

63
00:03:07.700 --> 00:03:10.300
 It's a good Baseline. That's a good Baseline. You're if you

64
00:03:10.300 --> 00:03:13.500
 put in some time into the business, you're pretty much guaranteed to

65
00:03:13.500 --> 00:03:15.800
 make more than 75,000 a year.

66
00:03:16.900 --> 00:03:19.500
So how big of The Upside well

67
00:03:19.500 --> 00:03:23.000
 it goes all the way to the top right where you

68
00:03:22.100 --> 00:03:26.400
 ask do you make an excess of $300,000

69
00:03:25.400 --> 00:03:29.400
 and 28% of

70
00:03:28.400 --> 00:03:31.500
 respondents that they make in excess

71
00:03:31.500 --> 00:03:34.400
 of 300,000.

72
00:03:35.200 --> 00:03:38.900
That there's a real upside number. Yeah, that's because

73
00:03:38.900 --> 00:03:41.200
 people say six figures they don't know if you're talking about one hundred

74
00:03:41.200 --> 00:03:44.300
 thousand dollars in one cent They that could be what they're

75
00:03:44.300 --> 00:03:47.200
 talking about six figures if it's six feet. You know what I mean? What are we talking about? We say

76
00:03:47.200 --> 00:03:50.500
 six figures we talk about 100,000 we talk about 900,000. Give me

77
00:03:50.500 --> 00:03:53.400
 a number 28% of people

78
00:03:53.400 --> 00:03:55.300
 polled in this survey.

79
00:03:56.100 --> 00:03:59.600
Reported making more than $300,000 now here's

80
00:03:59.600 --> 00:04:03.200
 what's really cool 30% 30.1% made

81
00:04:02.200 --> 00:04:05.500
 between two hundred and three hundred thousand

82
00:04:05.500 --> 00:04:09.500
 dollars. So if you combine those two categories that's 58.1%

83
00:04:08.500 --> 00:04:12.100
 or making more than 200,000 a

84
00:04:11.100 --> 00:04:15.200
 year more than half make more

85
00:04:14.200 --> 00:04:17.700
 than 200,000 a year.

86
00:04:18.500 --> 00:04:21.400
I can see the pie chart the truck. Yeah, here is the pie

87
00:04:21.400 --> 00:04:24.500
 chart we can share the chart online again. So

88
00:04:24.500 --> 00:04:26.200
 those of you can see it now.

89
00:04:27.200 --> 00:04:30.400
It's possible some people lied or we don't

90
00:04:30.400 --> 00:04:33.500
 know all the specific details behind it. But this is

91
00:04:33.500 --> 00:04:36.000
 the best we've got but I think it's it's safe to say

92
00:04:36.100 --> 00:04:37.800
 that over half of them ain't thousand dollars.

93
00:04:39.800 --> 00:04:42.400
I made more

94
00:04:42.400 --> 00:04:45.300
 than a hundred. Yeah. Well, we know we know more than 70

95
00:04:45.300 --> 00:04:49.400
 8% made more than 125,000. So

96
00:04:48.400 --> 00:04:51.700
 yes, yes more than half more

97
00:04:51.700 --> 00:04:54.300
 than half maybe 100 but you know, I think that's

98
00:04:54.300 --> 00:04:57.600
 to show you like those six figures are reality. You

99
00:04:57.600 --> 00:05:00.100
 know that you people could make that and I think it depends

100
00:05:00.100 --> 00:05:03.600
 how hardcore you want me because some people are happy with six figures and you go 100,000

101
00:05:03.600 --> 00:05:08.100
 a year. They're happy. Yeah, some people happy with it. Yeah, whatever

102
00:05:06.100 --> 00:05:09.800
 300,000, you

103
00:05:09.800 --> 00:05:12.200
 know over 300,000 and

104
00:05:12.100 --> 00:05:15.500
 um, but you said you're pretty much guarantee at

105
00:05:15.500 --> 00:05:18.100
 least 75,000 you if you put

106
00:05:18.100 --> 00:05:21.100
 in the time you put in the work the day to shows that's what

107
00:05:21.100 --> 00:05:24.200
 you will make. That's what people made at least

108
00:05:24.200 --> 00:05:27.600
 in 2022. Yeah. Now it's interesting in that the top

109
00:05:27.600 --> 00:05:30.500
 was in excess of 300,000 and 28% of

110
00:05:30.500 --> 00:05:33.200
 that said they fall into that category. I wonder how many

111
00:05:33.200 --> 00:05:36.300
 people would have been an excess of 500 and I

112
00:05:36.300 --> 00:05:39.300
 wonder how many would have been in excess of 1 million. I

113
00:05:40.600 --> 00:05:43.100
Would not be shocked to find that somewhere in

114
00:05:43.100 --> 00:05:46.500
 excess of 1 million. That group is probably very small. Yeah, but it's

115
00:05:46.500 --> 00:05:49.900
 out there and it's a reality. I think it is possibly possible that

116
00:05:49.900 --> 00:05:52.000
 that has occurred. This is the best data that

117
00:05:52.100 --> 00:05:55.100
 we have in terms of what a brokers in a related

118
00:05:55.100 --> 00:05:58.300
 field. Yeah make and I think

119
00:05:58.300 --> 00:06:01.200
 if you're out there wondering what is the outside this is something you should

120
00:06:01.200 --> 00:06:04.100
 use for inspiration not some help wanted it as

121
00:06:04.100 --> 00:06:07.400
 it says make six figures blah blah, you know, don't get

122
00:06:07.400 --> 00:06:10.400
 someone Instagram to try to gauge how much they're making this is what people told

123
00:06:10.400 --> 00:06:13.400
 you know, this is what they they said in an actual survey.

124
00:06:13.400 --> 00:06:16.100
 Hey, here's what I'm making knowing full well that they weren't going

125
00:06:16.100 --> 00:06:19.100
 to be judged right their name is not attached to it. So we don't know

126
00:06:19.100 --> 00:06:21.100
 who these people are in particular.