Sabetay Palatchi had worked for a firm selling financial products to government employees and saw the need for better processing with improved client service. In 2008, he and his wife Jennifer started General Financial, an online business to make such loans easily accessible over the internet.
What distinguishes their business from other lending sources is that they developed a website infrastructure to expedite loan applications and evaluation, and to streamline customer service.
It was their need to market their business that lead Sabetay and Jennifer to SCORE. Counselors Peg Corwin and Mitchell Gold helped them attract clients through online advertising and marketing. Carlos Bastidas helped them with the overall company business plan and strategy, and Bob Paul with credit policy.
Sabetay and Jennifer Palatchi
The web is now General Financial’s main source of new business. Internet marketing has dramatically reduced its advertising costs and increased its income. The company has fifteen full-time employees and three offices, and it expects to continue its growth and solidify its position in the market over the coming years.
What's Great About My Mentor?
Here is what Sabetay and Jennifer had to say about SCORE’s efforts:
“We have only great things to say about the SCORE Chicago Team. They are a group of highly trained and experienced professionals with the sole objective of helping companies succeed. When we started the company, we did not have the resources to hire top quality employees or consultants to assist us in building the business. We knew about SCORE Chicago and gave them a call right away. They grasped our business concept immediately and provided a list of resources that could help us.
“We engaged SCORE primarily for the definition and execution of our marketing strategy. They trained us, explained the ins and outs of online advertising, and followed up with us on a regular basis to assure our success. Then we discovered that they could help us improve our website infrastructure and improve our credit policies.
“We now are a full web-based operation and we thank SCORE for the support and guidance every step of the way.”
Use these quick tips from Kansas City SCORE to help grow your business.
1. Don’t let a day pass without engaging in at least one marketing activity.
2. Determine a percentage of gross income to spend annually on marketing.
3. Set specific marketing goals every year; review and adjust quarterly.
4. Maintain a tickler file of ideas for later use.
5. Carry business cards with you (all day, every day).
6. Create a personal nametag or pin with your company name and logo on it and wear it at high visibility meetings.
I recently left a career as a mortgage broker to pursue my true passion, interior design. I’ve done some traditional marketing—website, advertising, direct mail—but most of the work I’ve picked up has come via word-of-mouth. Is there an art to this method of marketing and, if so, how can I master it?
Social Media has taken over most conversations in the realm of communications and marketing. Some people think that social media will cure all. The truth is that the technology behind social media has just made it easier for professionals in the communications industry to connect with their audiences more than ever before.
By Michael Pranikoff, Director, Emerging Media, PR Newswire
Consortium of Public and Private Organizations
In Helping Entrepreneurs Leverage Technology to Fuel Their Growth and Success