In the factoring business routines are common, but are they always positive? Avoid complacency. Learn 3 key invoice factoring strategies to implement post funding. Whether at work or in our personal lives routines seem a part of our daily existence. We wake up at a certain hour, shop on a particular day and so on. In our daily workday we usually have a set of routines as well. We get to the office at … [Read more...]
Archives for 2012
Like Apples to Oranges: Why You Can’t Compare Factors
When the clock is ticking and your business finances are at stake, how do you sift through your options to find the best factoring company? Locating great services for any type of need is challenging, so we often generalize to make things easier: for example, only considering location and cost vs. quality to find a good value. Sometimes this works, and to some extent you may be able to compare factoring companies in the same industry by fees, rates, and contract perks. Choosing a factor based on value is a disaster for your company when the factor isn’t … [Read more...]
Factoring Transactions: How To Know When To “Cut Bait”
By 1 Comment
Time is money as the expression goes and successful factoring consultants have to allocate time and resources judiciously. Identifying when a potential factoring transaction is viable for a funder to look at and discarding the ones that make no sense are decisions that need to be made regularly by consultants. Are all factoring transactions worth pursuing? The answer to that is a resounding no. So, when and how do we “cut bait” and go on to the next? … [Read more...]
What are the Differences Between Payroll Funding Companies and Invoice Factoring Firms?
By 2 Comments
When a bank loan is an unobtainable financing option for a small business owner, he/she starts investigating alternative funding solutions. Two of the more frequently used alternative financing options are payroll funding and/or invoice factoring. At first glance, the two options may appear to be the same thing. Truth be told, there are many similarities between the two, but there are some core differences as well. … [Read more...]
Factor Finders Caters to Helping Factoring Brokers Succeed
By 3 Comments
Have a factoring deal but can't find the right funder? Don't lose out commissions! Factoring brokers can turn to Factor Finders to take advantage of a unique opportunity. Nikki Fores, Marketing Manager, explains how Factor Finders LLC is helping consultants succeed in this interview with Factoring Investor. … [Read more...]
Understanding the Factoring Business
By
With so much information readily available at our fingertips it is really easy to take shortcuts when trying to learn about the factoring industry. Although the factoring business model is very straightforward, you still need to understand basics before you venture out into the world and meet with prospects. One of the downsides to the factoring industry is that much of it is … [Read more...]
The World of Medical Factoring and Accounts Receivable Funding
By
Right from the beginning let me first correct the title of this article. There is no “world” of medical factors, it’s more like a very small neighborhood. Within the finance industry, lenders that are approached with funding opportunities involving healthcare providers as the borrower (or factoring client) tend to retreat and decline these types of applicants. The obvious question is why? … [Read more...]
Five FAQs That Small Business Owners Ask About Factoring (And How YOU Should Respond)
If you’ve ever had a hard time convincing a business owner why he/she should use factoring, then I suggest you keep reading. I can assure you that if you’re prepared and possess the right attitude when approaching entrepreneurs about factoring, then you’ll be able making commissions in no time. In order to help factoring brokers better be able to sell the concept of “factoring” to incredulous small business owners, here are five common questions that that small business owners ask about factoring and more importantly, five answers to those questions. … [Read more...]
Listen and Learn – Insights To The Factoring Industry
By 1 Comment
After reading the title to this piece one would think that I have some great pearls of wisdom to dispense on one of the many facets about the factoring industry. Sorry, this isn’t going to be a tutorial on marketing your business or collecting the proper documents to close a deal. We’ll save those for another time or article. This time I’m going to try and keep it plain and simple and focus on something so many fail to do when working with a prospect – listen. … [Read more...]
Factoring Business In The Dog Days of Summer
What? August already? Where did the year go? These dog days of summer are about the time of year when I wonder if I advanced my factoring business. Did I meet my goals? Although many people focus on how much money they made, not all goals are financial related. You might want more free time, streamlined marketing, or just to have more fun. Only you can decide your goals. The important thing to do at this point in the year is realize that it is never too late to accomplish them. No, this isn’t going to turn into some warm fuzzy article about finding your inner self and conquering the day. There is probably someone better suited on television for that. No, I just want to share that it is not too late to make 2012 a great … [Read more...]