Persistence

Nothing in the world can take the place of Persistence.

Talent will not; nothing is more common than unsuccessful men with talent.

Genius will not; unrewarded genius is almost a proverb.

Education will not; the world is full of educated failure.

Keep Believing.

Keep Trying.

Persistence and Determination alone are omnipotent.

--- Calvin Coolidge

Last month on our email discussion list a consultant, Gary Bernard, posted the following message [reprinted here with permission] under the subject title: “First and Second deals closed in 48 hours.”

I just wanted to take a few minutes and post some words of encouragement to the list.

I graduated the class in October of last year. I ran some test marketing and determined that I could make the phone ring without difficulty, but had no time to follow up on anything.

On my job, 50+ hour work weeks were becoming routine and I wasn't getting compensated for the overtime. Long about January I decided that I was going to quit and attempt to do cash flow full time. I quit my job in mid-April and chased my dream. I am pursuing a mixed Internet and direct mail strategy looking for business clients.

For months I had tons of clients and no deals that would actually close. I've taken a count and I can tell you that I have worked over 60 deals since April. The fact is I was incredibly discouraged and wondering if I was going to have to sell my condo.

Tuesday I finally got the call that my first deal has closed. It's a construction factoring deal for about 3 million a year out of Georgia. Wednesday a factoring deal I have been working for almost 2 months with a company in L.A. finally closed. I expect in November I will finally have income to pay the bills. The key seems to be to just keep dumping stuff into the funnel. Eventually things will start dropping out the other end and pay.

This is an amazing story. There is a tremendous amount to be learned from Gary’s experiences. Let me review the good, bad and ugly parts of this story.

I ran some test marketing and determined that I could make the phone ring without difficulty,

GOOD. Test your marketing. Make sure that what you are doing is successful before you spend great amounts of time and money. When you get the phone to ring you know your marketing is successful.

but had no time to follow up on anything.

BAD. Great marketing is useless if you can’t do anything with the leads you are generating. If you find yourself in this position you may want to join up with another consultant who is in position to work the leads you are generating. You and the other consultant could share the profits.

I quit my job in mid-April and chased my dream.

BAD (for most people). Be very careful about giving up your day job before you know whether you are going to be successful in the cash flow industry. Be sure you have a backup plan in case you find that the cash flow industry is not where your future is. Have another source of income, such as a working spouse, or have sufficient savings to carry you until you can replace your salary with income from your cash flow business.

For months I had tons of clients and no deals that would actually close. I've taken a count and I can tell you that I have worked over 60 deals since April.

UGLY. 60 deals and none of them closed? Amazing. Can you imagine how discouraging that had to be? How many of you would have quit long before you worked 60 deals that wouldn’t close? Yes, me too.

Tuesday I finally got the call that my first deal has closed. It's a construction factoring deal for about 3 million a year out of Georgia. Wednesday a factoring deal I have been working for almost 2 months with a company in L.A. finally closed.

GOOD. Not good, GREAT! Perseverance pays off. There’s a wonderful lesson to be learned here. What if Gary had given up after 20 or 40 or even 60 deals were rejected? You never know when just one more swing of the pickaxe will reveal that vein of gold.

The key seems to be to just keep dumping stuff into the funnel. Eventually things will start dropping out the other end and pay.

GOOD, GOOD, GOOD. This is the key to success. This business is based on numbers. Not just the ones you punch into the calculator, but the number of deals that you work on. The more potential deals you work on the better your chance of success.

Always remember the famous Calvin Coolidge quote.

Gary Bernard, Managing Partner of Funding Now www.FundingNow.biz

Bob Frank, Principal Member of Gulf Funding, LLC

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