"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. … [Read more...]
Cross Border Factoring – Look to the North to Expand Business
Why do business in Canada one might ask? You may or may not know that Canada is the second largest land mass country in the world with Russia being the first. However, the population in Canada is just over 30 million about the same as the state of California. … [Read more...]
Referral Sources Produce Qualified Leads!
By 2 Comments
In order to become a successful Consultant in the Factoring industry, you have to consistently Find your Prospects, Expose your Prospects to you the Consultant, Educate the Prospects about the services you provide and WIFT (What is in it for them) or why should they do business with you? … [Read more...]
Putting More Green in Your Wallet is as easy as 1-2-3
By 4 Comments
Being on the road as a guest speaker and instructor over the past ten years as well as my 22 plus years [boy am I getting old] in the cash flow industry has given me insight … [Read more...]
Understanding the FEES Principal to Closing Factoring Deals!
By 5 Comments
One of the most important things I learned early on in my consulting career is in order to generate revenue, commissions, fees you have to be able to follow the "FEES" Principal on the road to closing deals. … [Read more...]
Loans To Provide Medical Cash Flow-Not The Best Solution!
By 4 Comments
Financial products have specific characteristics that make them appropriate for some situations and inappropriate for others. To date there is no "one size fits all" cash flow solution product. … [Read more...]
Reviewing Financial Statements
By
We are often asked to comment on how a consultant can use a company's financial statements (Balance Sheets, Income Statements and invoice aging reports) to highlight the benefits of factoring their accounts receivables. Below, you will find those areas of the reports that you can concentrate on and how you can best use this information to improve your chances of closing the deal! Understanding the Balance Sheet from a Selling Perspective: Factoring simply turns one asset (Accounts Receivable) into another asset (Cash) - said another way. Factoring is "Off Balance Sheet" financing as you don't incur any liabilities when financing this way (nothing to balance). By reducing your potential liabilities, you will increase your … [Read more...]
Is Factoring a “Loan” Like a Bank?
Factoring is not a loan and there are many differences between getting a bank loan and utilizing factoring. Banks lend money. Most of the time they require some form of collateral which can be challenging for small or new companies. Additionally, banks are limited (by regulation) to how much money they can advance a business owner (oftentimes between 30% - 50%). Lastly, bank "loans" show as a debt on the business owners books. Factoring is not lending. It is the purchase of a receivable at a discount. There are no collateral requirements, no "debt" and Factors are not limited in the amount of money they can advance (usually up to 90% depending on the payer). … [Read more...]