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Education

• Standard telephone line, email account and online 21st century work life
fax account
We can do just about everything online today, including but
All of these can be provided virtually today, so why does an not limited to: banking, dating, completing college degrees
inside sales agent need to be at a traditional office location? and providing small business financing to merchants in
Of course, this doesn't just go for the inside sales agents; it rapid time. So why are so many ISOs operating like we are
goes for just about the entire team, including underwriters, still in the 1980s and 1990s?
merchant support team members and more.
It's time to step into the 21st century and convert all or a
In terms of tracking team members to ensure they remain significant portion of your team into virtual teams. It's
productive, why not use the various tracking devices, time to stop subjecting people to extreme costs of living by
live web cam technology, and mechanisms available to forcing them to move to places like lower Manhattan, when
document activities, record all calls, etc.? This would allow they could perform the same duties somewhere cheaper
your agents the luxury to move to lower cost of living areas and on a virtual basis. Such a conversion would be a win
across the country and not be subjected to living in areas for all sides.
where the cost of living is out of control.
Advantages to virtual teams John Tucker has over 10 years of professional experience in commercial
finance and business development. He is also an M.B.A. graduate and
Implementing a virtual team comes with a number of holder of three bachelor's degrees in accounting, business management
operational benefits and perks. Among them are: and journalism. To connect with John, please send him a connection
• Reduced turnover: Your agents wouldn't have to invite via LinkedIn at www.linkedin.com/in/johntucker99 or email him
make $150,000 per year (which the majority at tucker@1stcapitalloans.com.
of those in our industry don't come close to
earning) to survive when required to live
in or near New York City. They could move
to areas comparable to Sterling Heights,
which has a low cost of living and provides
quality suburban living with low crime,
good public schools and good economic
standing.
They could earn $65,000 a year and live
solidly in the middle class, instead of living
paycheck to paycheck on the same amount
in New York. Agents would reduce their
costs on gas, childcare, clothing and more,
which would also help increase loyalty,
boost morale and reduce turnover.
• Reduced operational costs: Think about
how much you spend to lease office space
and the costs of office furniture, computers,
etc. You could save a significant amount by
reducing these expenses.
• Increased productivity, revenues and
profits: Your team could now start work
earlier as well as work longer hours, since
they would be working from the comfort
of their home offices. This increased
productivity would increase revenues and
profits.
• More efficient hiring: Your hiring
procedures could be more efficient because
you could hire qualified employees from
anywhere in the country (or world), instead
of limiting your hiring pool to those who
live close by or are willing to move to a
high-cost area.

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