What makes some factoring brokers successful and others fade away? Get three important steps from Don D'Ambrosio in his Call to Factoring Brokers! In the past I’ve written about the pivotal role a factoring broker can play in the cash flow industry. In my November 2011 piece titled, “A How To Guide For Factoring Brokers”, we received an overwhelming response from interested people from all parts of the globe looking to get involved in the factoring industry. That’s the good news. Unfortunately, I have also found that a large percentage of these “new brokers” had … [Read more...]
Surprises in the Factoring Industry Aren’t Always a Good Thing
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Factoring business owner reveals why he'd rather avoid surprises in the factoring industry in this month's article from Don D'Ambrosio of Oxygen Funding. When most of us hear the word surprise, it is usually associated with a good feeling that was unexpected. In the business world, surprises sometimes have a very different meaning that does not have the same good feeling associated with it. … [Read more...]
Focus and Keep It Simple in the Factoring Business
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As much as I hate to admit it, I was never a fan of multi-tasking. Not in the factoring business or any industry. Unfortunately in today’s texting, video conferencing, blogging and emailing business world you sometimes have no choice. Do you too find it annoying when … [Read more...]
The Factoring Business Notice of Assignment – Never Fund Without It
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Real life scenario explains why factoring companies require a Notice of Assignment to fund business invoices in this article from Oxygen Funding. A few years ago we had a factoring business prospect referred to us from a broker that was affiliated with our company. The prospect was engaged in the business of logistics, working with several well known automotive companies. His business was growing and he needed cash flow to hire additional employees and take on more jobs. … [Read more...]
Factoring For the Tortoise and the Hare
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How often have you heard the catch phrases, “Same day funding”, or “Invoices funded in 24 hours or less”? Whether you work in the factoring industry as a direct funder or consultant, we all know that quality customer service is a cornerstone for any company’s long term success. Lately however, it seems that customer service is measured more on speed than any other factor. … [Read more...]
Getting In the Factoring Business – Part Two
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Three important questions you will want answered before starting a factoring business as a broker, consultant, or funding company. Over the last year I’ve had the privilege and pleasure of writing several articles for Factoring Investor on the topic of how you can get involved in the factoring business. … [Read more...]
Factor in Some Good News for the Factoring Industry
The New Year has arrived and with it comes the hopes and expectations for results to exceed those in previous years. Let’s face it, we all want to increase sales and profitability whether it’s in January or the middle of the summer. With traditional financial institutions continuing their stranglehold on lending to businesses, the factoring industry has experienced a renewed interest from companies seeking … [Read more...]
A Year End Thank You From Factoring Company Oxygen Funding
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It’s that time of year when many of us are looking forward to the holidays where we get to enjoy time with family and friends and attend holiday parties. Hopefully, many of us will be able to get away from the office for a few days to recharge our batteries and get ready for the New Year. Typically, when I write these monthly articles for Factoring Investor, the discussion focuses on the factoring industry and ways for you to market and manage your business. Last month’s publication, “A How to Guide for Factoring Brokers” was a smashing success with requests for the guide from factoring brokers from all parts of the world. We also received excellent feedback on our social media marketing for the factoring business article that ran … [Read more...]
A How To Guide For Factoring Brokers
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About a month ago, I posted a discussion on LinkedIn about how to become a factoring broker or consultant in the invoice factoring industry. Specifically, we put together a guide for new and current brokers titled, “Guide to Wholesale Factoring.” 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! … [Read more...]
Looking For New Factoring Deals? Look Inside First!
Where are the invoice factoring deals? Whether I’m conducting a cash flow workshop or networking with colleagues, this question seems to come up at least once per event. … [Read more...]