Opportunity World and Money ‘N Profits magazine had a chance to sit down and speak with CCTLS Founder and Manager Milton Talkington, the man behind the company’s immensely successful training and learning systems. In true entrepreneurial spirit, Talkington was more than happy to answer some questions that might point you, the reader, in the direction of success.
Opportunity World (OW): Given your experiences with CCTLS, what do you think makes for a successful business?
Milton Talkington: Great question! In my opinion, the members of the management team are the key component to a successful small-business opportunity. Here’s an example: The captain of a sailboat is responsible for charting a course to reach a destination, right? But it’s quite difficult for the captain to sail a boat all by himself in an open sea. A good captain relies on a well-trained crew to stay the course and keep the boat above any waves!
Your team needs to be flexible to change and use all the resources available to achieve a safe and successful voyage. Imagine being in rough waters without any experience, training, mentoring or flotation! If you’re considering investing in a small-business opportunity, make sure that it offers a solid business model, a foundation with resources, concise and complete training, and continued support and mentoring. It’s important to learn from experienced captains and crew who have charted the waters and completed successful voyages.
(OW): CCTLS is a business-to-business commercial finance opportunity. How does one go about selecting such a business opportunity?
Milton Talkington: One of the things to look for is the status and vision of the organization that offers the opportunity. Can you identify with that vision? Is it something that fits your personality and experience? Is it something that will challenge you to learn something new? Does this organization stand out against the competitors? Are they on the cutting edge of their market? Is this opportunity subject to changes in the market, and will there still be a need for it regardless of those changes? Asking these questions will often guide you toward the opportunity that’s right for you and your business. Other things to consider include:
• History of business model
• Experience of the “captain” and “crew”
• Full-or part-time
• Initial and ongoing support
• Income potential
• Contracts in writing
(OW): What should someone looking to start or join a commercial finance business understand before starting in this market?
Milton Talkington: Support and resources are the keys to your success. There is great demand for Capital Consultants throughout the U.S. and abroad. Capital Consultants are a rare breed, especially when using a cross-market philosophy. CCTLS is the pioneer of small-business cross-market commercial finance, and the model that we bring to the training table has been very successful. Also, having many vertical market products and services will enhance your commercial finance business. Find a company that can provide these and previously mentioned ingredients and you will be well on your way toward unlimited income.
(OW): OK, so say that I’m a new owner and I’m just starting out. What can you tell me to expect?
Milton Talkington: Fortunately, operating as a Capital Consultant is a very low-overhead business. Renting or buying office space is not needed, as you can easily work from home, or anywhere around the globe for that matter. When starting a commercial financing business you should have a solid foundation. I suggest establishing a mentor relationship with a “captain” and “crew” who have made it through years of rough seas. Proper training will allow you to take huge strides and overcome a lot of problems you may encounter. Believe me, when I started from scratch 20 years ago, I had no training at all! Don’t make that mistake. The little nuances of the business can have you running in circles. Mentor relationships can get you started one step at a time.
(OW): What types of marketing tools do you find crucial to a successful business in this niche?
Milton Talkington: Like any B to B involving sales, working your warm market network is crucial. This will generate clients quickly for a startup, and continue to bring clients well into the future. In our type of cross-market financing, everyone you speak with is a potential client or knows someone who could be. Your friends and family can be a great starting point to get known on a local level. After your warm market understands that you provide top-notch finance products and services, you will be amazed at how fast your business grows.
(OW): Lastly, what kind of trends do you see in this market, and what advice would you give for adapting to them?
Milton Talkington: One of the trends in commercial finance is helping startup and younger businesses that are growing quickly. Traditional lending in most cases is not an option for their funding needs, and they need working capital, equipment, and the ability to expand. Alternative financing programs have become more and more frequently used on a national and international basis. There is nothing more rewarding than to step in and provide the needed capital for these clients. Remember that the number one reason why a business, small or large, fails is lack of capital. The future of this market is endless and growing at a rapid pace both domestically and globally. There will never be a time when capital is not needed for commercial clients.