Tuesday, December 11, 2007

Is it okay to STEAL deals from ex-employers

Personally, I never stole a deal. Didn't need to...yet. But I did ask a top NY corporate attorney if I COULD take customers from one company to another. She said her interpretation of the law is that if you have PREVIOUSLY made contact with an account it is okay to contact the account at a new company. This, she said, is especially true for example, if the account has your personal cell phone number, calls you on it and says they only want to deal with you.

What she said is definitely against the law and could end you up in jail, is, if you take a list of customers from one company that you have never spoken to and called them from a new company. This is called theft of corporate data. Bad, bad sales-rep. Don't do it.

Best closing lines

Take it or leave it!

I don't care, go to a bank.

You'll be begging me for this money next week.

If you sign today I'll totally drop the 15% closing costs.

My Mother said you better sign this contract and send it back or else.

What do you mean 76% interest is expensive, are you crazy, this is cheap (1.38-- 38% interest in six months x two =76% yearly interest PLUS closing costs)

NY Cash Advance Companies Exploding

It seems everyday another new cash advacne company is calling me asking to work for them. They all promise 3,4,5,6 or more percent payout AND marketing. Obviously how can a company pay those kind of commissions and provide the marketing and support needed to retain customers.

It seems anyone with some leftover cash from their 90s stockbroker days thinks they can start a cash advance company. And actually they can. Just get an autodialer, a room with 100% commission salespeople (mostly out of work ex-mortgage brokers fired in the sub-prime meltdown hired off craigslist) and you can fill a pipeline in a matter of weeks. I know I did it.

Now what. How to get the deals funded and wired. And the follow up who does that? Who knows?