I didn't quit. I've just been busy.
In fact, just this morning I got in a request for $26M for an aviation training school deal. That one will be fun to look at, since I haven't played in that industry before.
If you've seen much of my content, particularly on YouTube, some of my most popular videos are about starting a commercial loan brokerage business. Because of my banking background, I still get requests for businesses needing growth capital. On top of brokering my own, select, deals, I also teach others how to get started in the industry.
In fact, it's my most popular course.
What I have been doing is building out some software solutions that run adjacent to that business.
In the past few months I've released:
- SBA Loan Analyzer - which teaches you the chances of getting approved for an SBA loan and how to improve your application.
- SBA Business Plan Generator - which will help you generate an SBA-compliant business plan using AI/LLMs.
Both work well with the commercial loan brokering business.
So, I didn't quit the business. I've just put my resources into other avenues.
In fact, I expect the business to pick up and more businesses look to borrow money if we get the 2-4 rate reductions that analysts are calling for over the next year.
I did want to address a few questions I've been getting:
- How does my course stack up with the competition?
- From the agendas a few of you have shared with me, I'd say my course covers about 90%+ of what others do. I don't go beyond beginner content because you don't need it. You don't need to know everything. You need to find customers.
- What's the best way to get started?
- Well, the cheeky answer is my course 😜. The rest of the answer is - find customers! You don't have a business if you don't have deal flow. Stop playing at business and go do business!
- Did I change my prices?
- I did. Like any other business, I've experimented with pricing over the years. Although I recently raised my prices a little, I've been told that I should charge a lot more. In fact, some students have told me I should charge a few thousand dollars. Heck, some competitors charge $20,000+! I'm not willing to do that.
Like I said, I haven't left the business. I've just been adding revenue streams, and I expect the industry to see more volume as rates drop.
If you are looking for a way to supplement your income, consider the commercial loan broker industry. It's not easy, but it can be very lucrative.
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