Social Business – Commercial Lending Platforms
One of the funniest and most intelligent comedy series on television has been Comedy Central’s “Upstart”. Upstarts is basically a rollicking comedy satire on the so-called start-up scene – a conglomeration of disheveled young upstarts with sketchy pasts, mostly centered on making a name for themselves and disrupting old markets. Created by Jason Gann, these epics are equal parts hilarious and insightful in equal measures. If you like your comedies a little biting, this one is for you.
The concept of what makes a start up is an interesting one that resonates with many in the business world. For some, it is simply the idea that they will be able to make some quick bucks selling their idea or concept to a select group of people who will pay them for their time. For others, it is much more about the social skills and business savvy that people bring to the table. In Upstarts, the young upstarts trying to build empires are mostly inept and arrogant, and they do not realize the level of skill that they possess in real life. They try to talk their way into getting established, they try to impress people through self-confidence and showmanship, they try to go in large numbers without really thinking about the consequences, and they often spend their profits on things that do not add value to their company in the long run.
The concept of Upstarts was spawned when Jon Heder, co-writer of the later 1990s cult comedy ‘Cable Guy’, decided that he needed a vehicle for the concept of an animated character getting started in his own show. He decided to pick something that had wide appeal, something that could be making funny, and something that were timely. After forming a team with writer Tom Wheeler, Heder began the writing process for the pilot episode. With the help of a good friend of Heder’s who had worked in the advertising department for decades, the writing process began in earnest. The pilot episode will debut in the summer of 2021.
One of the benefits of starting an Upstart company is that they do not have to have any previous experience in the industry. If you wish to start a lendingclub that can compete in the marketplace, then you need to be familiar with the current trends in lending, interest rates, and lending criteria. By having a solid understanding of the current lending landscape, you will be able to understand where the industry is going. If you don’t understand how to analyze the market or if you don’t understand the criteria that banks use to approve credit, you can find out how to start your own lending club. It is likely that you will be required to invest some money in order to get your business off the ground, but it is a small investment compared to what it would cost to start a traditional lending business, especially one that has long-term plans.
In the case of Upstarts, the chief executive officer was very aware of the risks involved with operating a lending platform that did not have extensive support from a major bank. After developing a business plan based on strong financial projections, he realized that there were many opportunities for social skills development. Many Upstarts today have a very high satisfaction rating with employees and a very low rate of attrition. When you consider the fact that the majority of working individuals are not satisfied with their jobs and most of them have not earned a four-year degree, the potential for great earnings is quite appealing to employees.
In the future, a lot more banks will start using Upstarts as their primary origination platform. It is interesting to see this because many traditional banks are still focusing their resources on processing commercial loans through traditional channels. There are also a growing number of nontraditional lenders who are creating their own unique websites and offering custom loan products. If you have a solid understanding of the current trends currently affecting the loan industry, you can take advantage of these emerging niches and apply your social skills to help you fill a role that has the potential to make you a lot of money.