And so, anyway, we got to a certain point and then it needed to be addressed. At the end of the day, that comes into play when things blow up. But the more important thing is just picking your partners wisely. But at the end of the day, I knew that everybody just wanted the best for the company and they would continue to be. Money is important, of course, when you have a business, but building the business is the number one thing for all three of us. But to answer your question, yes, we do have a partnership agreement. And within that, it addresses the most important stuff in terms of if somebody crosses line or breaks the rules or I get hit by a bus or whatever it is.
It sounds like Cole had something america loan that was working. He had basically done the proof of concept and built out a model that was working. But now it was time for you guys to figure out how to actually scale this thing. And so, if I america loan could guess, it sounds like you probably need… The biggest thing is you probably need people that can actually make those calls. It takes a really special kind of personality to pick up the phone and make a call to a stranger and try and sell something and get rejected. It takes a super special personality to be willing to do that eight or 10 hours a day. What was your plan around finding people that could do the cold calling and training them and actually building out this piece of the business that I assume is basically your core competency? Really where we fit is we fit on a scale, like a business that has a couple of people. They either have one sales guy and an operator and like a leads manager, or they have a realtor that they can put leads off to as well to monetize every side of it. Cole had the team out in the Philippines that was doing the cold calling and he had put that together. I want to do bigger projects and not do huge things. We want to be like the Apples or the Teslas of this business. So what we really focused on and what I helped focus on is I hopped on with the callers. So really spending the time and making sure we have the right people in place. This is where Tucker really comes in with all his knowledges. And so, we had to really work on the foundation, and Tucker can really see that on how to plan out the vision for the foundation of this house. And so, my job has been, okay, how america loan do we really systematize this business, and how can we dummy proof it?
And so, we hired a data scientist to run all these different lists from all these different companies. With the exact same list, we pull them separately and found out that we actually pay day loand have the best data.
I want to come back, Elliot, to more information about your data scientist, how that all worked out in the testing.
Can you give us a few examples, a few actionable tips of things that you have done in your business to begin to dummy proof it? But essentially, the biggest problem that we have is tracking lead delivery to gazillion different clients from different cold callers that are actually making the calls every day. And so, each caller america loan is assigned to a specific campaign, and when a lead is generated, they have to deliver that lead to fast cash payday loan the customer. Well, the problem is, is that some customers have their own CRMs. And so, how in the world you keep track of who sent what, when they sent it, did the people get it? But america loan that one little thing will eliminate hours out of our week of chasing our tail and trying to get answers for people, and just make sure that these campaigns are running as good as they possibly can.
To follow up on that, Elliot, you had talked about, earlier, and I think this might feed well into the dummy-proofing conversation as well. You had mentioned, if I remember correctly, that your calls have to be somewhere between three and a half minutes to four and a quarter minutes, something to that effect. What did you build out so that that process is always consistent and is scalable, and all of these new people that you have to bring in all the time can learn that quickly and know the right way to do it for Call Magic? I have a different script for when I call people and I talk to people. I have it timed in my head of how long it should take. I either then follow up myself or I have somebody on my team who follows up. The optimal time for them to talk is probably six, seven, eight minutes, so total of 12 minutes. The amount of leads that we get, out of a hundred leads, 70 to 80 of those leads are actually probably better suited for the retail market. Instead of my operate or my sales guy calling back as a cash offer, when that lead comes in, I actually put it in different buckets. I put it either in Tony wholesale or I put it in Taylor listing. You talked to my associate the other day about your property at 123 Main Street, possibly selling and interested for selling for cash. So we can definitely give you a cash offer, but I can get you way more money listing this on the open market.
Building that rapport so we can buy it from a wholesale side.
That really comes back from the ethical perspective that my partner, Cory and I have always had. And so, you put people in the right bucket and you just give them what they actually need, and you go do the right thing for them.
They have a wholesale operation in their business where they can go buy, fixing flips, and do wholesales. But on the realtor side, we see roughly a one and a half to three X return just from getting referral fees. So Tucker and I hop on calls with guys all the time, how do you grow your business? And then you start going down more to your sniper marketing here. Yeah, so I pointed out that you loans in san angelo tx guys can be doing other things. You could be cold calling business owners for me, trying to get me leads on businesses. Maybe I own a magazine and I need somebody that can cold call and get ad sales for me. You could be out there cold calling businesses and selling ad space.
I mean, in theory, once you have the infrastructure to cold call and to generate leads for whatever, lead generation, your customer could be anybody that needs leads for anything.
Do you spend the next five or 10 years focused on real estate or do you at some point soon start building out these other verticals?
Well, the next stop for us, I believe, is e z money payday loans mortgage loan officers. Generally, loan officers are very terrible at marketing.
Maybe we go to insurance, maybe we go to magazine sales.
Maybe we go to business buying, all those different examples you had, J. Tucker:The multitude of J Scott books that 1500 loan no credit check are out there. On the other side of that, of course you have all of these employees. I think you said you have 50 already, which is mind blowing, in such a short period of time. So first of all, just curious, quick answer, are your employees or your cold callers, are they commission-based? So they get bonus based on how well they perform on their, on the metrics. So if we have to sacrifice money upfront, to make people happy, we will do that because we want them to grow with us. We want to grow with a finite amount of people that can really go to the next level. Are they on your team here or are they local with your team in the Philippines working directly with the cold callers?
That guy helps fill in when campaigns are struggling and things like america loan that. We might hop on and throw an extra caller on their team lead. Which of the three of you on the team is focused on customer retention or growing your customer base? And what type of marketing channels are you using to find customers? I did jump on our last episode on the BiggerPockets Podcast, and right before we got on, it helped give us some traction. And so, in order to get the right fit, guys for us, is word of mouth at the end of the day, and run the podcast and growing our audience that way. Then when I do have the sales group call, people, I give them 45 minutes and it has to be on zoom. I need to see your face so I can get invested in you. I still stay on the phone with them for 45 minutes.
But at the end of the day, I want to help people grow because they might be a customer down the road or they might buy data from us or whatever. Then by the time they do get to know you, it really cuts down on that time it takes for them to really trust you. But when you started your podcast, nobody was paying you a half million dollars a year to go and record a podcast every week, and to spend hours, upon hours, upon hours doing that. It was never going america loan to pay off, and that was going to be wasted time. It was an investment, and you were willing to make that investment. I like to think of it as… And Carol and I have done the same thing.
One thing I could say too is… Because I talked to a guy a couple weeks ago that I wanted to use anyway. Part of the initial phase of this was, is it going to work? And so, I think the vision of what we wanted this to be has also matured along that path. Elliot:I think the thing that we did all have in common is we all have the same thought process. You can make more margins and bigger in that world if you go that route. I mean, I think Tucker emulates excellence in all those things.
We all knew it, what we want to be starting out, but Tucker just long term loans with bad credit helps bring the best out of people. That takes just time in the seat and just seeing what a business can be. And so, we want to really grow the different industries that we generate leads for or for. And just really understanding who your customer is at that point in time, that will just be such a game changer.
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