Back to Basics: How to Win Deals a Hyper-Competitive Market | Ep. 70 | The BDO Show

Welcome back to The BDO Show—where the best deals are born from strong relationships, not low rates, and the secret to winning is just to show up. This week, host Emily Detor is joined by a powerful trio of lenders: Daniel Park, Andrew Chong, and John Chung. They're pulling back the curtain on what it takes to win in a hyper-competitive market and the "science" behind building a pipeline, all with a healthy dose of unfiltered truth. In this episode, we're getting the West Coast version of the BDO building blocks. You won't want to miss this no-holds-barred discussion on: The Science of Winning a Deal: Learn how to differentiate yourself from the competition with credibility, execution, and a personal touch. Andrew and Daniel share their contrasting, yet equally effective, approaches to building trust with a borrower. The High-Stakes World of Rate Wars and Referral Fees: The panel dives into why the market is more fee-driven than ever. John explains why some brokers are pushing for higher fees The Reverse Psychology Playbook: Daniel Pak shares his "secret weapon" for competitive deals: telling a borrower he's too busy to take on their deal. This bold move often leads to them coming back later because it shows he's a busy BDO who gets things done. Building Your Referral Network: The trio stresses the unmatched value of face-to-face meetings and client referrals. They also offer advice to new BDOs on how to navigate the early days of building a pipeline and not getting discouraged by rejection. Word-of-Mouth is Unmatched: The panel discusses how a satisfied borrower's referral to their friends—who are likely other business owners—is the best form of marketing you can get. Plus, hear the group roast the $100 Million producer on his "podcast set-up."      The BDO Retreat is back for its fifth and final year, and this time, we're taking you to Key Largo, Florida, on January 16th and 17th. Join us for a weekend of BDO workshops, exclusive networking, and, as always, a few surprises: https://www.artofsba.com/bdo-retreat 🎙This episode is sponsored by:  SBA Protection SBA Protection Quick Close Life Insurance is the fastest, easiest way to secure the insurance protection that your borrower needs for their SBA loan. Their process is simple, hassle-free, and only takes a few minutes of your borrower's time. For more information, visit their website https://sbaprotection.com/ or email Adam Bergen at [email protected]. Peak Business Valuation  Peak Business Valuation has put together a free resource just for BDO show listeners, listing out the rule-of-thumb formulas for common industries financed by SBA lenders. Get yours today at peakbusinessvaluation.com/get-your-free-valuation-resource/