Wondering how to start or grow a small business factoring company? Based on two decades of experience, Jeff Callender shares his tips for factors and brokers including why he prefers small invoices, how to avoid his biggest mistakes, and what he would do differently if he started all over again. … [Read more...]
Archives for October 2012
Top 10 Accounts Receivable Factoring Questions
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What are the 10 most common questions presented by a business considering accounts receivable factoring? More importantly, how should you address them? If you have to convince a prospect that he/she needs invoice factoring, or your prospect is picking apart everything you are presenting, you are wasting your time. It’s as simple as “the business either needs accelerated cash flow or it doesn’t.” Therefore a true prospect will not be adversarial in dealing with you, but there will be genuine questions and concerns about the process. That is fair and highly predictable. Accordingly you must prepare to educate your prospect and anticipate the very predictable questions. 10 Questions Likely to Come Up In Your Next Factoring … [Read more...]
Routines Aren’t Always Good For Factoring
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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...]
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...]