Tools You Need to Be a Successful Broker
Updated: Jan 27
So you want to get into the business financing industry..
First things first, you can’t start a task without knowledge! For example, I can’t sell you a pen without knowing anything about it, how to use it, or how it’s going to benefit you right? Teach yourself the ins and outs of what you want to do. In equipment financing, there are lots of terminologies that every broker should know. The more you know the more professional you appear meaning more customers will be willing to work with you. Know your craft, or better yet — master it.
Build Your Setup
Once you’ve learned how the process works now you can create a work station for yourself so you can start making money! If you’re just starting out a home office would suffice. All you need is a computer, reliable internet, printer, fax machine, and phone. Create a business plan. A realistic plan. What are your goals? How much money do you want to make? And finally, market yourself! You want people to work with you, give them a reason why.
Persistence is Key
In any business, when you first start out things will not be easy. You will be faced with many challenges. People might be so rude to you causing you to feel like giving up. This is a tough industry which is why everyone can do it, but only a certain amount of people actually stick to it. Despite constantly being rejected on a daily basis, but what separates you from those who give up is your persistence. If you really want to do this you have to be able to tell yourself you can and let go of any doubt you have in your mind. Keep planting seeds and watch them flourish.
I hope this has motivated you to start your journey in business financing. This was written from segments in Equipment Broker School (EBS), an online school created by our very own CEO Josh Feinberg along with our COO Will Murphy. If you’d like to learn more, they attended deBanked Connect San Diego 2019 to talk about EBS. Check out our YouTube for segments from the event.