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Capital Club Radio

Month: April 2016

Guy O’Brien: A Brander of Commodity Bulk Purchases

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CCR PhotoGuy O’Brien is the founder and CEO of Bull Bridge Capital, a broker in subprime auto finance.  He was previously the face of Innovate Auto finance as the Vice President of Sales and Marketing. Under his leadership, he implemented strategies to increase market share and contemporize the brand.

Guy is recognized as a subprime auto expert and regularly speaks at national level industry conferences to educate the market on such topics as strategic selling, negotiating, and organization issues that inhibit performance.

Here is a glimpse of what Guy shared in the interview.

The Buy Here Pay Here (BHPH) industry provides a great opportunity for the purchasing of bulk credit portfolios.  The return is there, but each dealer or related finance company has their own way of doing business, No two are alike. You have to dig in and understand how they make money for you to make money.

We built our brand by segmenting the market.  This segmentation was done by evaluating capital and platform constraints.  We educate and influence the sellers on what makes a good deal.  We are known for our ability that aligns the seller and buyer.  This is accomplished by reducing the misunderstandings between them.  That is our brand. It is more than price.

The work begins beyond the funding.  For a bulk purchaser to receive anticipated yields from a purchased portfolio, understanding the collateral, the deal structure and the consumer is critical.  All three have to be consistent.  Too many times buyers just focus on one or two of these elements and expected collections are not met. 

Most dealers in the BHPH market have a good brand for selling cars, but they usually have capital or platform constraints that stop them from growing.  We help them extend their brand by buying and servicing their accounts so that they can focus on what they do best. Sell cars.

I am a believer in valuing human capital and servant leadership. We need to understand the heart of matter and the motive of the sale. More than price is a lot to talk about. Branding has to be built around relation base selling and the recurring needs of the seller.

Nick Papeo: Keeping the Dream Alive

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Mr. NicholasNick Papeo Papeo is the founder and CEO of several companies comprising the Financial Debt Recovery Limited (FDR) group of companies.  FDR has evolved from a third party collection agency into one of Canada’s larger accounts receivable management and debt buying organizations.  To date FDR has received over one billion dollars in assignments, created specialized recovery programs for governments and represented Fortune 500 clients throughout North America.  Additionally, FDR has acquired approximately one billion dollars of charged-off private label credit card, bank credit card and loan debts.

Here is a glimpse of what Nick shared in the interview.

The dream was started in 1992 with 2 people counting myself.  Sales calls were made in the morning and collection calls in the afternoon.  I knew there was a voided space for collections in the Canadian market.  Today, 25 years later, the dream is alive with over 200 people in the company.

We built this company on sweat equity and taking risks.  In 1995 we were a contingency collections agency.  We worked hard and provided our customers with a quality product, but we knew that if we wanted to get more return for our work we would have to change. We took a risk and became one of the first debt buyers in Canada.

To keep the dream alive, the focus was on attracting the best people or “company ambassadors” who understood how to protect the brand of our customers. These “ambassadors” were rewarded and recognized for helping us create a culture focused on determination, hard work, and skill level.

Today’s metrics for collectors and debt buyers are different than when we got started.   Twenty years ago it was about building a strong relationship with your customer.  Today, it is about protecting their brand and the use of a score card on how you look after their brand.

All markets are challenging.  We work in an imperfect space and to level the playing field is a challenge.  To be worthy in the customer’s eyes requires understanding their brand, out of the box thinking and creating a strategy.  If we do this right, we keep the dream alive.

 About Capital Club Radio

Hosted by Michael Flock, Chairman & CEO of FLOCK Specialty Finance, Capital Club Radio provides a forum for leaders in the middle market segment which has typically been underserved by traditional banking.

Capital Club Radio provides listeners an opportunity to gain valuable business insights and perspectives to deal with market uncertainty. Topics will include: key success factors, both personal and professional, dealing with adversity, outlook for the industry and your business.

The show airs live periodically on Business RadioX and is sponsored by FLOCK Specialty Finance