Invoice Factoring News

Weren’t able to make it out to Washington DC this month for the Invoice Factoring Conference?  You can still get all the great factoring news and training from the event. The International Factoring Association has now made audio CDs and handouts available for purchase from their 2011 Factoring Conference at a reasonable $100 price point.

Head on over to the IFA website to check out the great information. Read more

Should You Make Invoice Factoring Offers Via Email?

In an age where birthday wishes seem limited to a Facebook Wall post and asking someone out on a date is abbreviated to accommodate Twitter’s 160 character limit, it leads us to ask:

Are we getting too impersonal when it comes to making offers or negotiation? Read more

Factoring Conference and Training for 2011

Looking to network with factoring companies?

Desire to learn directly from the factoring industry leaders?

Then make plans to attend the IFA’s Annual Factoring Conference April 13-16, 2011, in Washington DC.

Here are a few of the presentations and speakers they have in their impressive line-up this year:

• How the Federal Reserve Operates – Governor Elizabeth A. Duke
• How the Business and Finance World will look in the Coming 20 Years – Dr. Michio Kaku
• Current Topics in Transportation Factoring – David Jencks, Esq.
• Play Factoring Jeopardy – Phil Cohen
• Issues surrounding Sales Tax, Credit Insurance, Misdirected payments, Invoice Terms & Arbitration – Mike Ullman, Esq.
• Factoring 101 – Darla Auchinachie
• Frauds, Fairy Tales and Facts about Managing a Factoring Portfolio – Allen Frederic, Michael Monk, Pat Haney, Jay Atkins
• Introduction to Sales & Marketing – Blaine Waugh
• Small Factors Roundtable – Melissa Donald, Ryan Jaskiewicz, David Jencks, Esq.
• Factoring in Canada – Jeffery Alpert, Esq, Martin Fingerhut, Esq, Oscar Rombolà
• Plus networking events, receptions, and a golf tournament sponsored by factoring companies like RMP Capital and Bibby Financial.

You can register on-line at www.factoringconference.com or by calling the IFA at
800-563-1895.  There is a $50 discount for registering by January 31, 2011!

TFI Launches January 3, 2011

With the holiday season in full swing and the New Year just around the corner, 2010 will end going down in history as a year small business would like to forget.

The more things seemed to change the more they stayed the same. The reality is the credit crisis continued to inhibit growth due to the record bank declines. Traditional forms of financing have become an anomaly to cash flowing small business. With all the uncertainty, looming for 2011 the Factoring Industry remains strong, recession proof and has become the financing tool of choice.

“TFI” is launching January 3rd, 2011 and with over 100 years of Industry experience “TFI” is poised to revolutionize the Factoring Industry and help small business…more to come!

Factoring Training for Small Business Funding

Working with small businesses receivables is a specialized segment of the factoring industry.  It’s also lucrative!

Less competition from the large factoring companies can equal more opportunity.

Just ask Jeff Callender, founder of Dash Point Financial Services.  He went from start-up cash flow broker to small business factoring funder in just a few short years.

Jeff generously shares his tips for success gained from real life experience.  In addition to his acclaimed Small Factors Book series, he provides workshop instruction at factoring trainings and association meetings.

Here’s a look at an upcoming workshop designed especially for small business factoring.

International Factoring Association Presents:

Small Factors Workshop

Thursday & Friday, October 14th & 15th, 2010

Rio All-Suite Hotel & Casino Las Vegas, NV

Small Factors have unique needs. This workshop is designed to give small factors a forum to discuss and learn. Emphasis will be on round table discussion, networking and education.

We will be discussing specific topics that are of concern to Small Factors. Some of the topics that we will concentrate on are:

* Locating working capital

* New and innovative technologies

* Risk mitigation in the present economy

* Legal issues

* Marketing

* Making your business mobile

* New products to offer

* Outsourcing

* Working with attorneys

* New due dilligence techniques

* Case Studies

The second component of our meeting will concentrate on networking. We will begin on Wednesday evening with a Welcome Reception. Breakfast and lunches will be held together to give you a chance to network with the other attendees. Dinner on Thursday evening will also be included.

Moderators: Jeff Callender of Dash Point Financial and Ryan Jaskiewicz of K & L Finance Company with legal council provided by David Jencks, Esq.

The workshop cost is $645 for IFA Members (or $695 for Non-Members) with registration available online at factoring.org

Source: International Factoring Association

We can’t promise you’ll walk away from the Vegas casinos with money but we do know you’ll take  home valuable factoring training!  If you aren’t able to attend the workshop you might want to check out these affordable eBooks authored by Jeff Callender:

How I Run My One Person Factoring Business – $10.95

Marketing Tools (also included in the Small Factor Series) – $13.95

Small Factor Series – 6 Essential eBooks for Factors and Consultants – $95.00

Could You Tell a Client They Don’t Need Factoring Help?

I witnessed an odd exchange of dialogue the other day on the Internet. It would have been humorous except neither of the cash flow consultants came to the right decision – over a long period of opportunity.

The “Dilemma”

The exchange started with a simple post from a factoring broker that had a “dilemma” with a new soon-to-be client.

In going over the client’s information, the consultant discovered that the client really did not need factoring help. He had two other alternatives that were clearly better choices for the client , with no additional risk.

The consultant was concerned how he was going to keep is his client focused on factoring so he could get the deal. “Any feedback would be helpful.”

Enter the “Expert”

The post was almost immediately replied to by a so-called “industry expert” that had been involved with similar negotiations (all going his way of course).

His advice bordered between “bait and switch” and “smoke and mirrors.”

Seriously?

In the ongoing posts back and forth neither of them ever considered actually telling the client that there were better options available.

What? Risk losing the deal in exchange for taking the professional higher ground?

Yes, and here is why…

1. The client is going to find out anyway. When they do, you are going to look like either an idiot or a thief. Ok, maybe those sound a bit harsh, but you will probably be viewed somewhere in the not so favorable middle.

2. They have friends to send you. Your “missed opportunity” with this client could come back ten-fold if you actually help your client. Trust me, he is going to tell every one of his colleagues about you. You saved the day, even if it didn’t involve invoice factoring. Who do you think his friends are going to call?

3. They have friends to steer away from you. Same as the last point, but in a bad turn of reversal. Remember, he will find out what happened, and will be sure to tell his friends if he thinks you purposely didn’t help him in order to make a few bucks.

Look, the rule of thumb is simple…

Always do the right thing.

Help your client in any way, shape, or form that you can. If it involves factoring receivables and you get a commission on the deal – that’s great!

If it doesn’t, but you are still able to help, just consider that you put some future business on lay away – maybe it will show up just in time for the holidays!

How to Be a Small Business Factoring Specialist!

Dash Point Financial has become a well-known specialist in small business factoring with over 15 years of industry success.

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

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