The Pop Quiz, Monday is a fun little exam that we love to give to savvy business owners. The examination is not a surprise after all since the interviewee already knew about the questions in advance. However, we can always pretend and have fun with the scenario of a young entrepreneur sitting in class nervously biting on their pencil. They are ready to take a pop quiz on a chapter that they were supposed to read the night before. Instead, they played Metroid all night on their SNES (Oops, this was me in high school). The real purpose of the pop quiz is that this is a fun way to introduce business tips from real-world experiences that you can not learn in a classroom. We want to thank our entrepreneur for being a good sport and volunteering their time to answer a few questions to help our community grow from their knowledge.
I want to introduce you to our guest today who will be taking our Pop Quiz Monday.
Can you please tell everyone your name?
What is your job role?
Tell us about your company?
We help small business owners finance equipment when the bank says, “no.” 85% of businesses that apply for bank or SBA loans get turned down. Unfortunately, when small business owners shop for alternative financing, a lot of the time they will not be talking to folks that have their best interests in mind. It’s too common for small business lenders to lie to customers about rates, terms, and other vital variables they will need to make an informed decision. We help small business owners avoid scams when they shop for business financing.
What do you love most about your job?
Employees here refer to the office as a “family” environment. We tend to attract good people, and as a result, the folks in the office like each other. It’s a nice environment here.
What motivates you to get up every day and go to work?
We’ve helped a lot of people get funds to start their business with. That’s an AWESOME feeling. I helped a lady finance her first food trailer four years ago, and I love going to Yelp to see her recent reviews.
How do your co-workers inspire you?
My business partner, Chet, works like crazy – whenever I feel like it’s tough to keep up, I just look over and see him grinding away. Running a business is hard – but it’s great to have a friend helping.
How do you have fun at work (team building, pranks, etc..)?
We’re in Las Vegas – so there’s no shortage of fun things to do with the team. We recently made a championship belt (just like boxers wear) so that the top salesperson each month can parade around the office wearing it.
What are some of the challenges of your job?
There is no end to the challenges. We need to feed our salespeople enough leads to having prospects. We need to train our salespeople well enough that they can convert the prospects in their pipeline. We also have to have our operations streamlined such that deals are approved and closed efficiently. If any of those pillars falls, we won’t have money to pay people, and the business crumbles to ashes.
What are some lessons learned from a past project that you can share with us?
Always address problems immediately. Early on, we had an employee who always looked haggard and smelled like he hadn’t showered. We were short-staffed, so we tried to avoid a confrontation hoping things would get better. It turned out that he was shooting heroin in the office – nothing was ever going to get better. It was a hard lesson.
What advice would you give to someone who is starting out in your industry?
It can be frustrating competing against liars and thieves. You’ll lose business to phony approvals, and it will kill you to know your prospect is about to get scammed by someone. In the long run, honesty pays off – customers that are treated well return. It’s a lot easier to keep a customer than to find a new one.
Thank you for taking our pop quiz today. You get an A+ for effort. You can learn more about our interviewee and their business by visiting them on the web: