Working in alternative finance goes beyond sitting at a desk, making phone calls, and closing deals. Social media, networking, and staying up to date on industry current events are just as necessary, if not crucial as a financial professional.
While some may doubt social media’s importance when it comes to finance, it holds more value than one may give it credit for. LinkedIn was recently ranked as the #1 platform for financial services followed by Twitter, TikTok, YouTube, Instagram & Facebook. A business social media presence allows potential clients to see the success and growth of a company, remain updated on exciting news, and be constantly reminded of their existence.
“Us keeping our content up and our exposure up is vitally important in social media,” said David Kirk, National Sales Manager at ACH Works. “And not just LinkedIn, but also the blogs and the forums on the different channels.”
“I think the importance of being able to market on social media and being able to show other companies about yourself is huge,” said Josh Feinberg, President at Everlasting Capital. “And the reason why I think it’s huge is because it shows that you’re a real company with real goals, real values, and it shows the outside world you’re a real company.”
Feinberg added that businesses should use social media to support other people and businesses as well and not just talk about themselves all the time.
“I definitely think as an industry as a whole you have to work together and be able to shout out other companies and being able to show support because being able to get to the next level isn’t just a single-handed thing,” said Feinberg. “It definitely takes a team and sometimes that includes other people outside of your own company and really helping other companies grow alongside with you.”
Networking with other colleagues is an essential part of being an active member in the finance community. Forming genuine connections with people around the country can result in partnerships, a broader clientele, or just another ally in the field.
“As far as networking goes, I think it’s the most important thing you can do. You need to know what’s going on in the industry, around the industry, not only for yourself but also for your clients to be able to deliver a better product to the end user,” said Tony Cimino, Director of Partnerships at ROK Financial, during a brief interview at this past Broker Fair. “And that’s what we’re all here for anyways is to actually get deals done.”
“We do a lot of emails and phone calls but when it comes to that face-to-face interaction, it’s a totally different story,” said Brooke Brown, ISO Manager at Lendini, during Broker Fair. “It changes the game, and it just adds a completely different feel to the relationship, so I really look forward to these types of events.”
And one can’t forget the news itself to stay updated either.
“I go to AltFinance,” said Kirk of ACH Works. “I go to the Third Party Payment Processors Association, I get their newsletter, I regularly go to Daily Funder.”
deBanked returns to Miami Beach this coming January 19th! Connect all over again at the Miami Beach Convention Center for one of the best experiences in the alternative finance industry.
Times Square this weekend was filled with representatives of the alternative finance and fintech industry for this year’s Broker Fair.
“There’s just lots of opportunities to network, I mean there’s certainly breakout sessions and things like that, I think many people are excited about those, but I think everybody’s here to network,” said Mike Mroszak, Vice President of Strategic Partnership at Dedicated Financial GBC. “…there’s ample opportunities to do that, the trade show room here is always packed with people, which is not always the case in every conference, so that’s a little bit unique to Broker Fair.”
Funder, brokers, and lenders flooded the sponsor showcase room to talk business and give out swag.
“The best tchotchke is the Lendini tchotchke. Okay, what it is, it’s just a little tool kit, very practical, very handy,” said Michael O’Hare, President at Cashyew Leads. “…the funniest one is actually from FinTap and basically, it’s a button and it says, funded, kind of based off of what Staples says, that was easy, instead it says funded.”
Speakers included Jay Shaw from OnDeck discussing what makes a successful sales team and Keynote speaker Kaplan Mobray inspiring attendees to be excellent. Mobray even surprised the audience with a quick clarinet show. Other sessions that took place include: Bad Deals, The Great Debate, Building America, Equipping the Dream Behind the Scenes, Successful Sales Team (Panel), The State of Real Estate, Truck and Equipment Financing 101, and legal panels surrounding litigation alternatives and the new disclosure laws.
Platinum sponsors Lendini, Rapid Finance, and National Funding also took the stage in between sessions.
deBanked CONNECT Miami was also announced for January 19th, 2023, at the Miami Beach Convention Center. With reoccurring faces at this year’s event, attendees, sponsors and speakers are very excited to reconvene once again in Miami.
“It’s been a good time, not my first actually, my second, but I’m looking to do a lot more and definitely the Miami one in January,” said Charles Wolff, VP of Loan Originations at Financial Lynx.
Broker Fair 2022 is sold out. If you’re registered, here’s what you need to know now:
Pre-show (Sponsored by Lendini): October 23, 7-9pm (only open to pre-show ticket holders). This event is also sold out.
Location: 48 Lounge
Location: New York Marriott Marquis, 7th floor. Our room block is sold out.
Start Networking Early: Download the mobile app and connect with other attendees that have already begun using it too.
Guest Post by David Roitblat, Better Accounting Solutions
In just under a month, on October 24th, hundreds of members of the merchant cash advance community will descend on Times Square in New York City, at the New York Marriott Marquis, for deBanked’s Broker Fair event. Every aspect of the industry will be represented, from brokers and ISO shop reps to specialized lawyers and accountants.
I will be there representing my business, Better Accounting Solutions, and it will be the upteenth time I’ve attended this tremendous event. But attending industry pow-wows was not how I envisaged spending my working hours at the start of my career.
When I worked at entry-level jobs in accounting firms, I didn’t think attending these events was worth the time and financial investment, instead choosing to believe that if I put my head down and worked for the 24 hours that the events were being held, I’d be positioning myself better for my professional future. And when I opened Better Accounting Solutions in 2011, that attitude didn’t change, especially now that it was my own time and money on the line.
This whole approach changed on the advice of a mentor a few years in. Hearing me explain how I thought the business could be scaling quicker than it was, he suggested attending, and participating, in an accounting conference that was coming up. When I pushed back with my familiar list of grievances, he didn’t attempt to refute them, instead repeating his advice, adding that how could it possibly hurt.
I attended that first conference, and haven’t looked back since.
All the elements of industry events that I had previously dismissed proved to be incredibly valuable and are an integral part of Better Accounting Solutions’ story, and how we got where we are today.
It’s why I encourage everyone that’s involved in the MCA business to shake off the headsets and get their heads out of the screens, and to take this opportunity to connect with real people.
Here are some of the key takeaways that I got out of that first experience that remain true to this day:
1. You never know who you’ll meet. Industry events bring together people from all different backgrounds and experiences, and you never know who you might meet and what kinds of connections you might make. Many of the people I met at these conferences, especially at Broker Fair once we had established ourselves in the MCA space, have gone on to be my mentors, advisors, supporters, clients, and friends.
2. It’s a great way to build your network. I came into the industry very green, feeling my way around by letting my work do the talking. But when I opened my own business, I needed to let my actual talking do the talking, and learn the art of networking. Networking is all about building relationships, and industry events provide an excellent opportunity to meet new people and start making connections that can help you in your career.
3. You can learn from others. When you’re working in your own space, it’s possible to inadvertently build a bubble around yourself, insulating yourself from current trends and happenings in the business. Industry events are a great way to learn from the experiences of others in your field and hear about the latest developments and advances.
4. It can help you find a job and advance your career. Sometimes, all you need is an opportunity to get your foot in the door, and events like Broker Fair are great places to find that chance. At industry events like these, it doesn’t take a lot to bump into industry figures and leaders, and if you connect with them and hit the right notes, these people just might be your next employer, mentor, partner or client.
As a token of gratitude for all that I’ve gotten from it over the years, Better Accounting Solutions is a sponsor of Broker Fair, a testament to our belief in this event. I’ve gotten tremendous value from Broker Fair, and it’s why I’m such an advocate for events like it.
We can’t let ourselves be held up by the reasons we think of to avoid attending, for a supposed lack of finances or time. Avoid naively thinking like I did, that you can grow in this business if you keep doing exactly what you’ve been doing until now, minimizing yourself in the very same circle. This is the best investment you can make in yourself right at this moment.
And once you take the plunge and make a firm decision to come, stop feeling guilty and that you should be contained in your office instead. Networking is real work, and can only come when you let go of that guilt and allow yourself to think bigger.
It’s at places like these where I met people that lent me their ears and gave me a chance, a major factor in Better Accounting Solutions earning our reputation as leaders in specialized accounting for the merchant cash advance industry.
It happened for me, and it can happen for you too.
Broker Fair is officially TWO MONTHS away! Taking place at the New York Marriott Marquis in Times Square, New York City, this event is shaping up to be the BIGGEST conference for the small business finance industry in all of 2022.
Don’t wait too late to register. These events sell out. Book your room and get your ticket now to secure your opportunity to network with and learn from who’s who in the small business finance universe!
Kaplan Mobray has been selected as the keynote speaker of Broker Fair 2022!
“Recognized by Meetings and Conventions Magazine as one of the nation’s top business speakers” Kaplan Mobray is one of the world’s most dynamic and inspirational business speakers and award-winning author of “The 10Ks of Personal Branding.”
Wharton-educated, Kaplan draws from his over 15 years of corporate experience as a successful business executive where he led corporate marketing, advertising, brand development, and workforce diversity initiatives for Fortune 500 companies.
Kaplan has received worldwide acclaim and numerous awards for his leadership and branding insights. He helps organizations develop world-class leaders and build a high-performance workforce.
He has been featured on CNN, FOX, Businessweek, The Wall Street Journal, Ad Age and shares his message to NFL players and fans annually at the Super Bowl. Prior to his speaking career Kaplan served as U.S. Diversity Programs Leader at Deloitte. Kaplan also serves on the corporate advisory board of ALPFA, the nation’s largest Latino professional association.
Through his latest venture, Kaplan is revolutionizing high performance learning through the Kaplan Mobray Leadership Institute Elevate Your Career, Elevate Your Life curriculum.
He serves as a consultant to fortune 500 companies, an advisor to the nation’s top business schools and a brand coach to professional athletes.
All of his innovative presentations have been described as life changing events. In his personal pursuits, Kaplan is a professional saxophone player. Kaplan resides in West Nyack, NY and is active in civic and charitable organizations.
Update: Photos are here
If you registered in advance for the summertime deBanked Happy Hour tonight in NYC, it’s from 7-9pm at Stout near Bryant park. There’s many Stout locations so remember Bryant Park! Registrants are primarily folks from the small business finance ecosystem.