Today we’d like to introduce you to Roy Ferman.
So, before we jump into specific questions about the business, why don’t you give us some details about you and your story.
Prior to starting Seek Capital, I co-founded a digital marketing agency. We were providing Google Adwords and web page design services to a range of different companies including Sears Canada, 1800-Accountant and a range of other industries.
We were introduced to one company that was in the small business lending vertical and they were a good client, growing every month and really being a great ROI on their marketing spend. They actually referred us to a few other lending companies and these companies were all looking for businesses that have been in business for a minimum of 1 or 1 years. The challenge was that a lot of the leads they were receiving were brand new businesses which they were unable to underwrite and provide funding. We did a little research to find the options to match those leads to, but they were focused on their core business and not interested.
So here we were with a large amount of ‘startup business leads’ that no one wanted but were easy to come by. We looked at that as a potential opportunity. After some extensive research, we found a good set of business funding options for new business owners with strong credit profiles. We hired a couple of sales guys, ran a small marketing campaign and got our proof of concept. We were pretty excited and we were able to raise some seed capital to build out the business.
We created extensive plans, marketing strategies and budgets. What was truly amazing was that, although we weren’t perfect to our budgets, our trend line was pretty accurate. Our first year was really figuring out how to efficiently deliver the service to the business owner with the highest level of service while being cost effective. We tested a range of different concepts, some were studs and some were duds. Till this day, we maintain this attitude of continuing to test new methods to provide a better service to our clients in a cost-effective manner. This is a core focus for our management team.
Our initial launch was to manage all lead generation internally with an aggressive marketing strategy on Google Adwords. While we haven’t abandoned this, we have expanded our marketing reach with our partnership program. We have partnered with a range of other lenders, accountants, business coaches and consultants who refer their clients to Seek to help provide funding. These partnerships have fueled the growth and opened us to new avenues of business owners.
Has it been a smooth road?
I don’t believe there is any business that is a smooth road, at least none that I have been a part of. We have seen our fair share of ups and downs but so long as we focus on the bigger picture, we have managed to continue to grow and move forward.
As a services-based business, our people are the single most important element to our people. We have lost good people over the years for any number of reasons; relocation, pursue other opportunities but the worst would have to be losing good staff because we, as a management team could have been better. We try to learn from each of these opportunities and avoid ever making the same mistake twice. It’s easy to neglect a team member who isn’t vocal about their needs when there are 1,000 other things grabbing your attention. And unfortunately, we lost some good people due to this.
To combat this, we have installed daily trainings and regular manager 1:1 with each team member to ensure we are able to catch any issues either before they come up, or before they become a big issue. Handling the growth has posed new challenges but we feel this is an area that we’ve put a lot of focus into hiring the right people for different stages of the business.
So, as you know, we’re impressed with Seek Capital – tell our readers more, for example what you’re most proud of as a company and what sets you apart from others.
Seek Capital provides a range of services to startups and early-stage business owners. We provide funding solutions primarily focused on credit card based funding which provides our clients with 0% APR cards for the first 12-18 months.
By conducting a funding viability assessment, we are able to best match the user to the best funding solutions for their unique requirements. We are very hands-on with every client to ensure a high level of success.
The next phase of our business growth is the launch of our credit card comparison site which is scheduled for launch in June 2018. By providing extensive write-ups, pros vs cons of each card and head to head comparisons, we are confident we are providing a service that will allow consumers to make an informed decision when selecting which credit card is best for them.
To date, the accomplishments we are most proud of are being named #44 Best Place To Work by Glassdoor and #26 Best Place to Work in Los Angeles by the Los Angeles Business Journal.
Let’s touch on your thoughts about our city – what do you like the most and least?
Being in Los Angeles is great. The weather is amazing every day which puts everyone is a great mood. As we hire new team members, we have brought on a good number of people who are not from Los Angeles which creates an eclectic work environment.
Not like about Los Angeles? Nothing! We love Los Angeles!!
Contact Info:
- Address: 6420 Wilshire Blvd Suite 600 Los Angeles, CA 90048
- Website: www.seekcapital.com
- Phone: 3232751700
- Email: [email protected]
- Instagram: www.instagram.com/seekcapital
- Facebook: www.facebook.com/seekcapital
- Twitter: www.twitter.com/seekcapital
- Yelp: https://www.yelp.com/biz/seek-capital-los-angeles
Getting in touch: VoyageLA is built on recommendations from the community; it’s how we uncover hidden gems, so if you know someone who deserves recognition please let us know here.
