The guide contains information on industry related topics including, benefits of factoring, factoring vs. bank financing, sample transactions, targeted industries, qualifying prospects, overcoming objections and more.

The response was absolutely overwhelming!

Within a day of entering the post, we received requests from brokers in the United States, Canada, Mexico, Great Britain, Slovenia, New Zealand, China, Saudi Arabia, Africa, and China. I was floored that so many people from around the globe knew what factoring was and wanted to learn how to participate in the industry.

For those of you that missed our guide and are interested in learning more about brokering or just the factoring industry in general, here are a few key points that we feel you might find useful.

Factoring Defined

Factoring refers to an arrangement whereby a factor purchases an account(s) receivable from a business at a discount to the face value of that receivable. The factor earns a fee based on the number of days that the receivable remains unpaid, i.e., the longer the receivable remains unpaid, the larger the fee incurred.

Effectively, the business is no longer dependent on the conversion of accounts receivable to cash from the actual payment from their customers, which takes place on typical 30 to 90 day terms. Businesses benefit from the acceleration of cash flow.

Today, the most common form of factoring fits conveniently in your wallet – the credit card. Each time a merchant accepts a credit card, the merchant (seller of the goods) is giving up a portion of the total sale to the card issuer (typically a bank) who in turn, eventually collects from the consumer.

Benefits of Factoring Invoices

Any company, whether starting out, experiencing a growth phase, or mature in years needs good cash flow. When a business sells a product or service to a customer, that business provides an invoice stating the products or services sold and the amount the customer has agreed to pay. It is an IOU from the customer to the business. Sometimes these invoices are paid immediately but quite often they are paid anywhere from 7 to 120 days.

There are a number of benefits derived from the use of factoring:

• Immediate Access to Cash

• Take Advantage of Early Payment Discounts

• Eliminate Overhead and Invoice Processing Expenses

• Build Your Credit Rating

• No Liability on your Balance Sheet

Advantages of Invoice Factoring vs. Bank Financing

Factoring is not a “loan” – it is the sale of an asset.

A loan places a debt on a balance sheet, and it costs interest. By contrast, factoring puts money in the bank without creating any obligation to pay it back. Thus having more cash on hand and fewer receivables strengthens one’s balance sheet.

Loans are largely dependent on the borrower’s financial soundness. With factoring, it is the soundness of the client’s customer that matters most – a real plus for new businesses without an established track record.

These are just a few key points that are covered in our “Guide to Wholesale Factoring. For those new to the factoring industry there are many associations, professionals and publications that provide educational guidance and useful information about the factoring industry.

While you’re at it, check out this publication for great insight from professionals giving you their perspectives and experiences on a wide range of factoring topics. This is a great time to get involved in the factoring industry with many resources available to new brokers.

Don D’Ambrosio is the president of Oxygen Funding, Inc., an invoice factoring company located in Lake Forest, California or online at www.oxygenfunding.com.

For a complimentary copy of his How To Guide for Factoring Brokers and to register as a broker please email don.dambrosio@oxygenfunding.com. 

FactoringInvestor (FI) caught up with Howard Chernin (HC) to fill us in on the accounts receivable funding business. Howard is the Sr. Vice President of Quantum Corporate Funding, LTD in Fort Lee, New Jersey and heads up the New Business Development division.

FI: What transactions will your company consider funding?

HC: Since 1991 Quantum has been factoring all types of receivables, except medical. We continue to target transactions ranging from $25,000 to $5 million plus.   We will still buy a single invoice rather than requiring a company to sign up for a long-term contract.

We are well known for factoring construction receivables, however we will consider all types of invoices.   Right now we are seeing quite a bit of manufacturing, staffing, and construction.

We are considering deals all across the country. In fact Tobi in our office moved to Arizona and is developing business in that part of the country.   The first step is to send us some basics on the transaction, including debtor information and aging reports, to gauge our interest level.

FI: How did you get your start in the factoring business?

HC: I worked in the corporate world for several Fortune 500 companies. I wanted to do something completely different and started a fire sprinkler company in the construction field. That led to my involvement in the factoring business with Quantum in 1993.

FI: What unique benefits does your company provide?

HC: ME! I’m the biggest benefit in helping consultants work with our company to factor receivables for their clients.

FI: How do you handle commissions to brokers or consultants?

HC: Our standard commission is to pay 10% of whatever Quantum makes for the lifetime of the account.

FI: What do you consider the best methods for finding deals?

HC: In today’s market it is all about referrals.   Talk to people and tell them what you do.   Think about your sphere of influence.   Everyone knows 250 people and they in turn know at least one person.   So now you have at least 500 people you are connected to on some level. You must constantly use your own referral base to build your business.

FI: What advice would you give to new professionals just starting out in the industry?

HC: The first and most important thing is to get on that phone and be able to take rejection.   If you can overcome rejection you can succeed.

Initially a consultant needs to be able to make 250 calls per day and learn from each call. Out of those 250 calls you might get 15 leads to follow up on.   Then follow the lead from the starting point to the ending point.   Understand what the factor likes and their requirements then participate in the funder/client conference calls and just follow the whole process.

FI: What is the most common business mistake you see people make?

HC: Consultants often get hung up on that one deal and just won’t let loose of it.   It is the old adage that you have to throw enough deals against the wall and have enough leads working in order to make something happen.

FI: Given the current economy, have you made any changes in the way you transact business?

HC: One of the most challenging aspects of being in the factoring business now is evaluating credit.   A company’s credit can change on a daily basis.

For example someone called me up this morning on a $500,000 receivable owed by a well-known company.   Now I need to double check on how that company is fairing in the current market. It is a very challenging economy and nothing is a given anymore. We must double-check everything.

Where can people contact you to obtain more information? Our website is a great place to start for factoring information and transaction guidelines.    You can also contact me at hchernin@Quantumfunding.com or by phone at 201-799-4342. Tobi Wilkins, VP of Sales and Marketing, is also available at tobi.wilkins@quantumfunding.com or 201-799-4348.

FI: Is there anything else you would like to share with our readers?

HC: We encourage the consultant to participate in our conference call with the client.   This is such an important part of the process. The factor and client can both understand what is needed from each other.   It also keeps the consultant in the loop and they know first hand what it takes to get the deal done.

There are two key words in our business; partnering and collaborating. You must be able to partner and collaborate with other people to succeed.

FI Summary: Helping businesses raise cash through factoring account receivables is one of many cash flow categories where consultants can earn commissions by referring transactions to funding sources.

Factoring Investor (FI) asked Jeff Callender, founder and president, to share some information on working with his company.

FI: You work with very small business clients that most factors usually turn away. How are you able to work with such small companies?
We intentionally operate with extremely low overhead. We work from a home office and keep our expenses to a minimum. Larger factors who work in big offices with a hefty payroll have a high break-even point to make a profit, and thus need clients with larger volumes to make factoring worthwhile. We don’t have those burdens and are small by choice. We prefer to give extremely personalized service to select clients, rather than take on as much business volume as possible. We have found this to be preferable both for us and the clients we accept.

FI: Do you accept clients from any specific geographic area?
While we are located near Seattle, we accept clients anywhere in the 50 states of the U.S.

FI: Do you accept referrals from consultants?
Yes, in fact about 60% of our clients come directly from consultant referrals. We have a Consultant Packet with all necessary information available from the Consultants link at DashPointFinancial.com. We pay generous commissions on a monthly basis for the life of an account. We also pay commissions “one deep” that is, if a client you referred, refers us to another company, and that company becomes a client, you receive ongoing commissions for this referral as well.

FI: What type of clients does your company target?
We fund only clients who begin factoring less than $10k in total volume to start and gradually grow them to $50-60k.

While anticipated growth is welcome, we don’t require it. Some factors accept very small clients with the expectation they’ll grow; if they don’t, such clients are often dropped. We don’t do that; for example, I’ve had one client who’s been factoring about $5-6k a month for around five years now, and I consider him a good client. I don’t make the “big bucks” with him, but his low-maintenance account has provided steady, dependable income for a long time. That works for me. However, a great many of our clients do grow over time.

Many of our clients are service businesses, especially in the cleaning sector – janitorial, carpet cleaners, window washers, etc. We’ve also had good success with small courier services, new temp staffing companies, security guard firms, even a couple day care centers who have some kids whose care is paid by the state, which is what they factor. Many of our clients are “Mom & Pop” operations the bigger factors usually avoid.

In general we look for clients with the following characteristics:

• Are honest small business owners in need of improved cash flow.
• Have an existing incorporated or limited liability business and business license (we can’t fund sole proprietors).
• Wish to factor fresh and ongoing invoices to creditworthy business or government customers (not private individuals).
• Factoring volume is less than $10k per month to begin.
• May be young or start up companies, or may have been in business for some time. The significant matter is the need for improved cash flow.
• Typically wait 2 weeks to 2 months (preferably 15 to 45 days) to receive payment — which is the primary reason for cash flow needs. We usually do not accept non-government customers who take more than 60 days to pay.
• Have no UCCs or liens outstanding, no significant tax arrearages, nor unsatisfied judgments.

FI: Are there any industries you do not factor?
We do not deal with construction or trucking receivables, nor medical receivables billed to insurance companies or private individuals. We do fund medical invoices billed to hospitals and creditworthy businesses. Invoices from clients to insurance companies or apartment management companies are usually avoided as well.

FI: What happens if a company becomes too large for you to continue factoring?
We have contacts with numerous factoring companies and will either 1) have another participate with us in funding the account (which is transparent to the client), or 2) refer them to a larger factor. Either way the client continues to receive excellent service. If a client referred by a consultant moves to a larger factor, we make sure the new factor continues to pay the consultant a commission and we move out of the picture. We make a point of protecting our consultants’ interests since our business relies on their referrals.

FI: How are you funded?
We are funded primarily with private financing. This means we are not constrained by requirements or restrictions that banks often impose, nor are we vulnerable to unexpected or sudden withdrawal of operating funds as are companies funded completely by banks.

FI: What is your experience in the factoring industry?
I began as an independent factoring consultant in 1994 and started buying small receivables that year. I have worked both as a small independent factor, and also as an Account Executive for a large factoring company managing part of a large corporate portfolio.

Previously I owned a sign shop franchise during which time I learned firsthand how factoring can provide needed cash flow for a small business. This provided experience from both sides of the factoring table enabling me to know what it’s like to run a business and need adequate cash flow.

FI: What sort of educational materials do you provide clients and consultants?
I have written several books and ebooks on factoring small receivables that teach others how to succeed in this business. Unlocking the Cash in Your Company is popular with business owners who want to understand accounts receivable funding and how it can benefit their business. How I Run My One-Person Factoring Business is a favorite among consultants and investors who are thinking about making money as small factors and are curious as to how to do it with few or no staff people. I also provide mentoring for people interested in becoming small factors, plus sell an online software data base product (FactorFox) used by many smaller factors to track their portfolios.

FI: How can someone interested in working with your company contact you?
Dash Point Financial has a strong online presence and helpful information at www.DashPointFinancial.com. You can reach me by email from the site or call 877-620-3699.

FI Summary: Helping businesses raise cash through factoring account receivables is one of many cash flow categories where consultants can earn commissions by referring transactions to funding sources.

Factoring Fundamentals How You Can Make Large Returns in Small Receivables

Are you seeking dependable income with the hours you choose from any location you want?

This introductory volume in The Small Factor Series, shows how you can make middle to high double digit annualized returns no matter how much you invest!

Gain access to all the information a newcomer to factoring needs to know when starting out in this remarkable investment. Read More…

Factoring Small Receivables  How To Make Money in Little Deals the Big Guys Brush Off

Book 2 in The Small Factor Series, this complete how-to manual provides everything the beginning factor or private investor needs to know to start buying accounts receivable of small companies.

With common sense directions and first-person experiences, you’ll learn how factoring small receivables can be a lucrative, enjoyable business and an excellent tool for investing retirement or discretionary investment funds.

Packed with information, resources, and the wisdom only experience provides.   Read More…

Factoring Case Studies - Learn and Profit from Experienced Small Factors

Book 3 in The Small Factor Series, this work describes 21 real-life experiences from the files of 8 small factors around the country.

You’ll learn a multitude of tips, plus errors to avoid as you read about the kinds of clients you want to have — as well as those you don’t!

Learn and profit from the experiences of those active in the business!  Read More…

Yes, – I want to discover BIG profits in small factoring! Sale Price: $95.00

Unlocking the Cash in Your Company How to Get Unlimited Funds Without a Loan

Book 4 in The Small Factor Series, this book is written for owners of small to medium -sized businesses who don’t know much about factoring and will benefit from learning about it.

Will factoring help your small business?

Learn how selling your invoices can generate immediate cash flow, who can qualify, when to factor and when not to, how to find the right factor, how to know if a factor is right for your company, and much more.   Read More…

Marketing Tools For Small Factors & Consultants A Hands-On Guide to Methods That Work

Special Marketing Bonus Book #5: Learn from pros in the field which marketing methods work for them and which don’t work

Save yourself countless hours and thousands of dollars by avoiding common marketing mistakes

Additional material on making dynamite presentations, networking efficiently, and creating an effective web site. Read More…

Factoring Wisdom Short Sayings and Straight Talk for New & Small Factors

Special Bonus Book #6: If you’ve been intrigued with factoring and curious as to just what the fuss is all about, this digest is an excellent way to find out.

Grouped alphabetically by subject, this volume provides a thumbnail sketch of the information, experiences, and words to the wise that are generously peppered throughout his books and other writing.

Settle into your easy chair with this brief collection and you’ll be surprised at how much you’ll learn in just a few minutes.

Yes, – I want to discover BIG profits in small factoring! Sale Price: $95.00

Top 10 Insights about Factoring Prospects ($9.95) by Jeff Callender

Questions to Ask and Truisms to Remember When Considering Potential Clients

Choosing which prospects to approve and which to decline is one of the most important decisions you make as a factor.

These 10 insights provide a perspective and understanding of just where you really do (and don’t) want to invest your money and time.

Filled with short and memorable maxims that will make you nod in agreement and even smile, this is extremely valuable information any factor needs to remember when viewing every new application, and every broker consultant needs to understand before making any referral. Download “Top 10 Insights” for only $9.95

Top 10 Illusions about Risk and Loss ($9.95) by Jeff Callender

Faulty Assumptions for Factors and Consultants to Avoid

Everyone knows that factoring, while providing a remarkable return on investment, also includes risk and the chance for serious loss. But not everyone, especially newcomers, realize potential pitfalls that too often lurk below the surface.

This valuable ebook will help you detect hidden dangers and potential risks you might not otherwise recognize. By being attuned to them, you can save yourself a bundle in headaches, hassles, lost time, and of course, lost money. Download “Top 10 Illusions” for only $9.95

Top 10 Statements You Never Want to Hear ($9.95) by Jeff Callender

Unwelcome Words for Factors From or About Their Clients

Guaranteed to elicit a few groans of agreement from experienced factors and appreciative acknowledgment from newbies, this ebook is a lesson in the old adage, forewarned is forearmed.

When you hear any of these statements from or about your clients, you will be better prepared to take your best course of action. Another well-written, enjoyable ebook. Download “Top 10 Statements” for only $9.95

10 Key Points to Look for in Factoring Software ($10.95) by Jeff Callender

Anyone considering the purchase of factoring software will benefit from reading this ebook. Aside from clients accounts themselves, buying the software to track your accounts is one of the biggest investments your factoring company will make.

A poor choice can cost you untold hours of wasted time, dissatisfaction from your clients, and thousands of dollars in unnecessary expenditures not to mention potential business losses due to insufficient A/R tracking. This ebook will help whether you are…

* just starting out and are not yet using factoring software

* using spreadsheets and feel the need to step up to a more powerful, time-saving data base

*unsatisfied with the factoring data base software you’re currently using.

Download “Top 10 Key Points” for only $9.95

**Or purchase ALL FOUR Top 10 Reports for only $29.95**

About the Author: Jeff Callender began doing what this book teaches in 1994. He has written books and numerous articles, consulted, and been a public speaker to thousands of people about how to profitably factor small receivables. No one comes close to providing as much information on the subject as he has.

Factoring account receivables is helping businesses through these tough economic conditions opening the door to earning opportunities for cash flow consultants.

FactoringInvestor (FI) caught up with Michael Ponomarew (MP) from Millennium Funding to fill us in on how they are helping consultants earn fees by helping businesses sell invoices.

FI: So, tell me what has Millennium Funding been doing lately?

MP: Really nothing different than we used to do, just more of it. We continue to concentrate on the 3 main ways to secure deal flow:

1. our own direct marketing,
2. bank references, and
3. the broker/consultant network.

We have become successful in securing strong relationships with major international banks which has resulted in reviewing a great deal of their turn downs – and as you would guess, this activity has increased significantly.

Our broker/consultant strategy continues to stress further education that focuses in on-the job training and we have partnered with the Business Accelerator Program to help us in facilitating this. These training programs have resulted in stronger deal flow for both the graduates of the training programs and Millennium.

FI: Given the current economy, have you had to change the way you do business?

MP: Millennium remains strong and has a great deal of liquidity. Based on our past performance record, our financing relationships remain strong and we are poised for tremendous growth.

We remain conservative in our approach to approving debtor credits however; we have made no significant changes to our Underwriting processes.

In respect to marketing we are concentrating on rolling out direct response campaigns on a consistent basis and increasing the number of touches or follow up with new prospects in the conversion process.

FI: What do you see as the best sources of deals in today’s market?

MP: Bank referrals, direct marketing programs and Internet optimization that are geared towards educating (and not selling) the benefits of factoring.

FI: A lot of cash flow companies are struggling in this current environment, what makes Millennium different?

MP: Millennium was built with strong business practices in place and we never wavered from this philosophy. Our funding decisions were based on two strong principals – purchase verifiable invoices to credit worthy debtors. Once you move from that strategy, you can get yourself in trouble.

In addition, in times like this you need constant deal flow to replace those clients that may be struggling. Our commitment to and support of the broker/consultant network has resulted in continued sales and revenue growth

FI: Millennium is involved in several different areas. What is your core business that you seem to always go with?

MP: Factoring, Vendor Insta Pay (which is new service that we provide), and Asset Based Lending through an affiliate partner.

FI: Where can people get a hold of you to obtain more information?

MP: Michael Ponomarew, Millennium Funding, 888.652.8298 ext. 45 or mikep@millenniumfunding.com

FI: Is there anything else you would like to share with our readers?

MP: With the state of the economy, downsizing etc. we have noticed an influx of new people interested in pursuing a part-time or full-time career in the Factoring Industry. Through the Business Accelerator training programs (webinar and on-site) we continue to provide initial and advance industry training and support to these individuals. Initially, the directors of Millennium Funding came through the industry as consultants. We understand what it takes to be successful and we view the opportunity to work with consultants as a sense of giving back to the industry.

FI Summary:

Helping businesses raise cash through factoring account receivables is one of many cash flow categories where consultants can earn commissions by referring transactions to funding sources.

We recently received this query from a factoring investor subscriber:

“In the past, prospective clients complained about factoring costs being very expensive. How do we overcome this objection?”

There are several ways to address the cost question as explained here by Mike Ponomarew.

In my opinion the “Cost” question comes up if the Factoring definition and process is not thoroughly understood by the prospective client. It is important to explain to the prospect that:

• factoring is NOT a loan,
• there are NO liabilities created on the balance sheet, and
• there is NO interest charged

 A Factoring facility is transactional based, which means each individual invoice is purchased at a discount.   This is similar to offering a cash discount or early pay discounts (2% 10/net 30 days) to a customer. Once the invoice is paid by the customer and the Factor deducts the discount fee from the reserve, that financing transaction has been completed.

The business is often tempted to multiply that factoring fee by 12 months because individuals are programmed to think about annualizing rates. This is easily demonstrated not to be the case by explaining as follows:

If a company expects to generate 25% gross profit, at the end of the fiscal year this company’s expected gross profit margin is still 25%, not 25% x 12 months = 300% gross profit.

I have encountered situations when I would actually explain this example to get my point across. If the prospect continues to persist our factoring fee is an interest rate try using this strategy:

Ask the prospect what their gross profit margin is i.e. 30%. I then multiply the 30% x 12, which equals 360%. Then you multiply the factoring fee i.e. 2.5% for 30 days x 12 this equals 30%. Subtract the 30% from the 360%, which leaves 330% left over as a gross profit. This demonstrates to the client that they are receiving less, similar to a cash discount, but still generating a healthy gross profit.

Inevitably, you will hear the prospect comment, “This is not how business or my gross profit works. I only gross 30% profit!” Exactly!  This example demonstrated to the prospect their business is transactional based and so is the Factoring facility.

Here are a three more points that you can use when trying to answer the  ”Cost” question.  

1. Factor just the quick paying customers. The fees would be less and the reserves would be paid back quicker. Clients automatically think about factoring their worst paying customers, which incurs a higher fee.
2. If the prospect’s company can sustain the time and cash flow, consider delaying factoring invoices for 15 or even 30 days which would reduce the fees. The clock starts to tick in respect to fees only when the money leaves the Factors bank account – not from the date of the invoice. Using this strategy the prospect can convert their customers into 30 days payers (if they traditionally pay in 60 days). Millennium can factor invoices up to 30 days old and in some cases a little longer
3. To minimize costs only Factor the amount of invoices that will resolve issues. Avoid factoring invoices unless necessary to raise capital by receiving an immediate cash advance.

Contributing writer  Michael Ponomarew  brings with him more than 24 years of experience in entrepreneurship, marketing, and business management.  Mike can be reached at  mikep@millenniumfunding.com or by calling  888.652.8298 ext. 45.  

When Yahoo puts out its Hot Jobs list, people listen.

As job prospects are expected to slow in 2009 people are urged to look into fields that are poised to excel.  Yahoo Hot Jobs listed being a Factor as one of their Top 10 Professions for 2009.  

More and more businesses are seeking alternative financing in this economy. Banks are tightening their belts and even good companies are having trouble managing cash flow.  

Although Factoring has been around since business began (How Old is the Factoring Industry?), it has more than stepped into the daylight as a legitimate form of financing – and a profession to learn.  

Not only did a Factor make the Hot Professions list for 2009, it was at the top of the list in regards to average annual income (at nearly $80,000 per year).  

The article also quoted “It’s a huge business and, at a time when people can’t get other types of lending, factors are skilled experts at lending against accounts receivables.”  

There are numerous ways to get involved in the industry but for the most part Factoring Consultants market to businesses and pass the deals on to Funders to do the work (thereby receiving a commission).  

The best part for consultants is the commissions are typically reoccurring. As long as the business uses the Factoring services the consultant will continue to receive a referral fee – for the life of the account.  

For more information, check out the ‘How To” articles and Funders at FactoringInvestor.com.  

The original article entitled ’10 Hot Professions for 2009″, by Joy Victory with quotes from Ron Mitchell, can be viewed at http://hotjobs.yahoo.com/career-articles-10_hot_professions_for_2009-633.

as highlighted in my recent article, If You Aim at Nothing You Will Hit It!

First of all a marketing plan outlines the specific actions you intend to carry out to interest potential clients in your product and/or service and persuade them to buy the product and/or implement the services you offer.

A successful marketing plan implements your marketing strategy that is used in reaching your goals and it helps in setting your marketing budget.

Consider these 5 points when developing your Marketing Plan.

1. Positioning

Communicate with your prospects exactly why they should do business with you. Focus on the features and benefits that you provide along with WIFT or What’s In it For Them!

2. Packaging

Package and present your services to generate interest and response from qualified prospects. Make sure you include a CTA or Call to Action that directs your prospects to respond.

3. Promotion

Get more qualified prospects to call that are ready to do business with you now. Use Direct Mail campaigns that create curiosity and the Internet to leverage your efforts. Develop Referral Sources through associations and networking.

4. Persuasion

Turn those who call you into immediate sales whether over the phone or via a website. Developing good communication skills is an important attribute in the conversion process. Implement the 80/20 Rule – talk 20% of the time and listen 80% of the time.

5. Performance

Keep clients coming back and referring others – forever!! A happy client is a great referral source. Maintain constant contact with your client to help you identify potential issues and opportunities.

Michael Ponomarew brings with him more than 24 years of experience in entrepreneurship, marketing, and business management. Mike can be reached at mikep@millenniumfunding

“IF YOU AIM AT NOTHING YOU WILL HIT IT!”

What an interesting phrase but how does it relate to the Factoring Industry?

Many Factoring Consultants exhaust their marketing efforts with a shotgun approach, never aiming or directing a Target marketed message to a Target marketed audience. Unfortunately, these individuals end up creating a lot of activity but not being very productive.

Consultants working in the Factoring industry on a part-time basis have limited time available to put forth to their consulting business. These consultants have very little time to waste.

Full-time Consultants are the complete opposite; they have a lot of time available to them therefore, a lot of time to waste.

Marketing efforts that are not Targeted are very difficult to manage and in many cases can exhaust your marketing budget. Try picking a Niche in a type of industry with annual sales between 500K and 2.5MM. This should help you narrow your scope.

Next pick an industry that you are familiar with. Why? Because it makes targeting your market easier, you will get the most out of your Marketing budget and you can manage or track your marketing results more efficiently.

You should always try and leverage your efforts which means putting out one unit of effort that produces multiple results. This can be achieved by taking advantage of the Internet and the multiple marketing streams that the internet makes available.

Direct Mail campaigns that create curiosity and the Internet continue to be our companies top marketing mediums in controlling our own deal flow destiny. Set a monetary goal on the realistic income that you desire and then develop a marketing plan. This will help you keep focused and on track in reaching your goal.

So in conclusion, take “Aim at Something” and at the very least you will know where you are going. Define how you are going to get there or how you are going reach that Target market and use the Internet. Need I say more? Yes, I do somore to come later. All the Best!

Michael Ponomarew brings with him more than 24 years of experience in entrepreneurship, marketing, and business management. Mike can be reached at mikep@millenniumfunding.com or by calling 888.652.8298 ext. 45.