How to get your competition’s employees to spill their guts!
Every installment loan lender, payday loan, car title title loan… consumer lending business owner needs information. As lenders in “the business of lending money to the masses,” I must know what my competition is doing!
I must know what’s working for other payday loan, title loan and installment lenders in my area!
Sit down with your competition’s employees and allow them to spill their guts.
How to “get the dirt” on your competition.
Try Craigslist.com. Run an ad.
How to Start a Consumer Loan Business
Here’s a free template you may use to start:
Job Description
CONSUMER LOAN REPRESENTATIVE & AREA MANAGER
YOUR COMPANY NAME Loans is a short-term consumer finance company specializing in car title, payday loans and installment loans.
We are currently seeking a Loan Representative & an Area Manager to join our growing company and work in our YOUR CITY office.
We are actively recruiting candidates that are looking for a career opportunity with our company. We value the relationships we have cultivated in the communities we serve and expect our employees to be an example of honesty and respect when dealing with them.
YOUR COMPANY NAME Loans has a special approach to business and we only desire experienced candidates that can step up and work towards the exceptional customer service and image we represent.
Consumer Lending Daily Responsibilities to include:
• Providing customer service in person as well as over the phone.
• Processing loans and payments.
• Outbound collection calls.
• Managing defaulted accounts.
• Daily reporting.
• Daily deposits (no cash handling required).
• Handling heavy phone volume.
• General office duties.
• Marketing.
Job Requirements
To be considered eligible for our Loan Representative or Area Manager positions, you must meet the following requirements:
• 12+ months experience with a PDL/title lender (We guarantee we’ll be discreet).
• Excellent customer service skills.
• Computer proficient with full understanding of basic operating systems.
• Basic math skills.
• Excellent communication and organizational skills.
• Ability to multi-task and work in a fast-paced environment.
• Ability to handle heavy phone volume.
• Ability to advance and make serious $$.
Often, your competitors employees are unhappy. Why? Could be they have a crappy boss, maybe the commute is too long, often there is little opportunity for advancement, not enough money… any number of reasons.
So, by reaching out in creative ways to your competition’s employees, you can open a dialog with highly experienced, qualified personnel who are able to provide you with a much different perspective on your business and tactics that will increase your funded loans, improve collections, decrease first-time defaults…
And, when I’m lucky enough to get a superior candidate, I often hire, collaborate or at least pay them a couple of hundred bucks for their time. It just feels right.
Thinking of starting a consumer loan business but you’re not sure of where to begin?
Click This Image for Some Light Reading 🙂 Over Your Weekend!
