Chapter 1 - BlueTarp Basics

Question 1

What are the three components value propositions for BlueTarp?

Answer 1

1. Improve cash flow
2. Reduce risk
3. Grow sales

Question 2

What are the 4 options for a supplier to get funded?

Answer 2

1. daily (this is not a norm but is offered as last resort)
2. weekly
3. bi-monthly (15 days)
4. Monthly

Question 3

What are the three programs for an supplier to manage credit/AR through BT?

Answer 3

1. Powered - Dealer handles all customer service and collections.
2. Managed - BlueTarp handles all customer service and collections.
3. Mixed environment (combination of powered and managed).

Question 4

How do customers receive co-branded invoices & statements?

Answer 4

1. E-mail
2. hard copy - snail-mail
   (or both)

Question 5

What does BT solve for?

Answer 5

1. Cash flow
2. Reduces credit risk
3. Grow sales by freeing up resources in AR

Question 6

What year was BT founded?

Answer 6

1998

Question 7

Where is BT corporate HQ?

Answer 7

Portland, ME

Question 8

How many employees does BT have (as of 2016)?

Answer 8

110

Question 9

What industry is BT focused on today?

Answer 9

Developing the pro-dealer business in the building products industry. We are actively researching other verticals.

Question 10

Is BT a privately held company?

Answer 10

Yes BT is privately owned by a group of investors. BT also has a credit line with Wells Fargo.

Question 11

What is the definition of a fairway account?

Answer 11

1. $5M-50M in revenue.
2. > 50% pro trade credit business volume (B2B).
3. must be credit worthy.
4. must have showroom.
5. must have an in-house credit program

Question 12

True or False

The sales funnel has 4 stages before you sign a contract?

Answer 12

True
Stage 1 is "Gathering information"
Stage 2 is "Presenting"
Stage 3 is "Negotiating"
Stage 4 is "Contract sent"
Stage 5 is "Signed contract"

Question 13

When should you move a lead in Sales funnel to an account?

Answer 13

When client raises his hand and expresses an interest in seeking more detail.

Question 14

What are the key main activities for a Sales Manager to have in a given week?

Answer 14

Add $5,000,000 into pipeline per week

10 phone calls, live meetings or webinars per week and 2 new supplier contacts per week.

A running $100M pipeline

Question 15

True or False

True cost of credit is not as clean as cost of good sold?

Answer 15

True
The cost of credit does not map to a P&L or balance sheet. There are many variables to consider (IE opportunity cost, fees, term extensions, legal fees, postage, invoicing, charge offs, credit check bureau fees (IE; Experian, D&B, etc.), etc..

Question 16

Once contract is signed, how long before supplier is up and running?

Answer 16

4-6 weeks