"Discover What's Being Reported on Your Business Credit with Ty Crandell"
Episode 67: "Bad Beats"
Listen to the Podcast Here:
For many business owners and individuals access to cash or having enough capital is a common problem for those who want to start up, grow, and generate more returns for their business. If you have limited resources it can be hard to expand without the capital you need. Tyler Crandall let’s us know there is a lot of capital out there if you just know where to find it. Listen now, and Visit: learn how you can too.
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Meet Tyler Crandall
Ty Crandall is an internationally known speaker, author, and business credit expert. With over 17 years of financial experience Ty is recognized as an authority in business credit building, business credit scoring, and business financing.
Ty is the author of two of the bestselling books on consumer and business credit Perfect Credit and Business Credit Decoded and has written hundreds of published articles relating to business credit. Ty is also often heard being interviewed on countless radio and TV programs and news shows across the country and has been featured in Forbes, Entrepreneur, and Inc.
Ty currently serves as the CEO at Credit Suite. With Credit Suite Ty consults with and advises companies on business credit building and scoring. He has overseen the business credit building for thousands of clients and has helped create and grow the most credible business coaching operation in the United States. Ty has also created and coaches the largest business credit provider network in the world.
Ty is an avid pilot and sailor, spending much of his free time in the skies and water around Tampa. His favorite pastime is spending time with his family and playing with his two kids Cash and Chanel.
[01:02] Introduction Tyler Crandall
[04:36] Tyler delves into the vetting process for a new client. If the vetting process at your company is lacking; you are more likely to do business with a client who is not a great fit for your business.
[05:47] Tyler elaborates on how and why he mistakenly chose a dominant player company automatically and gave the authority to that certain company to outsource his business and why ultimately they were a bad fit for his business. Even with his online investigation regarding the company, he never noticed anything out of the ordinary that would have alerted him that there was an issue with the company.
They did not spot the negative. They gave them more credit than credit was due. What they should have paid attention to was the fact that they did not have a big social following. “Before you pick up a client, look for the reviews.”
[08:49] Tyler talks about the value in giving information and knowledge away for free and why it is an area he examines to vet his clients. When you give something away, money and loyal clientele comes with it. There are two types of people – there are the people that give away information and provide value to their clients and there are those that are in business just to do business. It’s fine if you want to operate like that, but he doesn’t see it as a good fit for our culture. We focus on people who educate instead of just sell. They are just a better fit for our culture.
[11:29] Tyler further explains how the mistakes made with the big named company helped him discover the core values of his company and discover who they wanted to be as a company. “The darkest days at your company define the company culture.”
[13:15] Tyler tells us that the vast majority of decisions he makes for his company is cultural based. When Tyler is ever involved in the interview process he doesn’t ask any questions in regards to experience. All he cares about is if the candidate is a good fit in the cultural fit in the organization and all the questions are around the core values of the company.
[14:46] Tyler advises that every company do some sort of personality assessment when hiring new people. They model their ideal candidates after they star employees. He went from interviewing questionable candidates to only A-players.
[15:53] Tyler gives an example of how using company core values to identify the right candidate. One of his filtering methods is determining whether the candidate is passionate about his company or just there to get a job. If due diligence and research regarding the company has not been completed, the candidate is automatically out of the running.
[20:53] Tyler sees a lot of entrepreneurs come through and ask the wrong questions. The questions shouldn’t be: What can I do with $500 bucks; the question should be: What problems can I solve? I saw how little control you have in the real world and how things can come out of the blue and knock you on your behind. He discovered a solution after experiencing a huge personal problem where his personal money was tied with his business money. If you are passionate about something and you use that passion to help others and create solutions it’s really just like dominoes: everything just falls into place.
[24:11] Tyler fills us in on the types of people he helps to get capital for businesses how his company does it. He explains that the banks and credit companies have information that we don’t have. It is a broken system. He wants them to be transparent. He believes business owners shouldn’t be held liable for what is going on in the business. When you are starting in business all you have is time because you don’t have the money. He teaches everyone on the business credit side to let people succeed whether a customer can pay them or not. They openly teach finance.
[30:04] Tyler shares where you can find free information on his various social media channels. YouTube is his largest source of information.
[33:01] Type wraps up the episode by imploring everyone to check his or her business credit report and various other data sites. Visit his site at: //www.creditsuite.com/monitoring/and learn what others know about you. You will never feel as intruded on in your life until you have seen your LexisNexis report.