102: Quadrupling My Income Through Networking with Brandon Tumber

On this episode of Build Your Network, Host Travis Chappell interviews Brandon Tumber, President of Midwest Recovery Systems and has taken the company from zero to 65 employees in five years.

Here’s what Travis and Brandon discuss in this episode:

  • About Brandon Tumber
    • Specializes in everything in the financial services space.
    • Anybody who hasn’t paid for a service, Midwest Recovery Systems gets the on the phone and educates them about their options.
    • Most excited about the patterns of growth the company is showing.
    • Hoping to get into the payment processing space to help eliminate excess cost for consumers.
  • How did you end up in the collections industry?
    • The first job he had was selling cell phones, he noticed that people couldn’t get approved.
    • The singer in the band he was in worked at a collection agency.
      • He got a job at the agency and slowly advanced his way into making a good income as a collector.
    • About six years ago he met his wife and she was in the dental field.
    • The dentist told him to start his own collection agency and helped him fund the beginning of that business.
  • Is there a black cloud around the collections industry?
    • In the consumer space collectors are “the enemy.”
    • From a business standpoint, they’re the people that companies lean on to recoup money.
    • Collection agencies used to beat people up for not paying, Brandon is trying to educate people and steer them toward financial freedom.
    • 98% of the originators out on the market will settle your debt with you for less than 50%.
  • What do you think about education in the financial field?
    • Education in school about credit scores and debt will probably never happen.
    • If the black cloud of the collections space could be removed, they could educate people really quickly.
    • A lot of mistakes people make could be mitigated if people were educated in the school system.
    • A lot of the funding schools get is from major corporations, so things may never change.
    • Keep your expenses below 10% on your credit cards.
  • Do you believe that what you know or who you know is more important and why?
    • The more hands you shake, the more money you make.
    • He truly believes it’s who you know.
    • The first couple years, every client they onboarded was from him making cold-calls.
    • After starting to go to conferences, his business quadrupled because he got face-time.
  • Do you have any tips for leaving a conversation you don’t want to be in anymore?
    • He doesn’t sugarcoat things and he likes to be transparent.
    • He’ll ask for contact information and let them know that he has to take a phone call.
  • Could you boil it down to one tip on networking?
    • Get yourself out there.
    • You already don’t have the relationship, so what’s the worst that could happen?
    • Be confident in who you are and what you’re selling.
    • A certain individual might be someone that YOU didn’t want to do business with them in the first place.
    • If you focus on negative things, you’ll get more negative things.

The Random Round:

  • What profession other than your own do you think it would be fun to attempt?
    • Professional musician
  • If you could sit on a park bench with anyone for an hour who would it be, and why?
    • Morgan Freeman
    • Interesting character
  • How do you like to consume content best, books, blogs, podcasts, or videos?
    • Podcasts and Books
  • What’s a book you’ve read recently?
    • Stacking the Deck
    • Outliers
  • Give us a glimpse of your morning routine
    • Helps his wife get the one year old and baby up.
    • Listen to podcast while getting ready.
    • Get into the office and get day rolling.
  • What is your go-to pump up song?
    • Worst Behavior by Drake
  • What are you not very good at?
    • Delegating responsibility
  • What is one place where we can find you online?

Tweetable Quotes:

  • 98% of the originators out on the market will settle your debt with you for less than 50%.
  • The worst thing that could happen is someone could say no.
  • You’re never going to be able to do things 100% at all time.

Resources Mentioned:

Buildyournetwork.com– Podcast website

BYN.media/fb – Facebook Group

Midwest Recovery Systems

Stacking the Deck

Outliers

 

 

 

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