My original discussion was gong to be a year end review of the factoring business, but as we all know it is better to look forward than to look back. So let’s approach this from the prospective of setting up your business for next year. What makes a successful sales effort? The most obvious answer is closing lots of transactions. How do we make that happen? What will make 2013 a successful year for your factoring business? … [Read more...]
A Factoring Thank You For 2012
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What makes the factoring business enjoyable? Don D'Ambrosio shares his answer in this year end thank you. Wow, time flies and we are looking at closing out another year. Many articles this time of year tend to focus on reflection, comparing estimates to actual results and anticipating the New Year. This year I would like to take a slightly different approach. … [Read more...]
How the Election Affects Your Factoring Business
A look a how the business of factoring will be impacted by the election results and economic issues. The election is over and no matter what side of the political fence you reside, the people have spoken. President Obama returns for four more years with a divided congress consisting of Republicans controlling the House of Representatives while the Democrats retain their majority in the Senate. No matter who was victorious in these races, tough issues lie before our elected officials. The latest unemployment data released by the US Bureau of Labor Statistics remains close to 8% as of November 7, 2012. The fiscal cliff is looming which includes the expiration of specific tax cuts while at the same time spending cuts of over 1,000 … [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...]
Factoring Transactions: How To Know When To “Cut Bait”
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Time is money as the expression goes and successful factoring consultants have to allocate time and resources judiciously. Identifying when a potential factoring transaction is viable for a funder to look at and discarding the ones that make no sense are decisions that need to be made regularly by consultants. Are all factoring transactions worth pursuing? The answer to that is a resounding no. So, when and how do we “cut bait” and go on to the next? … [Read more...]
Understanding the Factoring Business
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With so much information readily available at our fingertips it is really easy to take shortcuts when trying to learn about the factoring industry. Although the factoring business model is very straightforward, you still need to understand basics before you venture out into the world and meet with prospects. One of the downsides to the factoring industry is that much of it is … [Read more...]
Five FAQs That Small Business Owners Ask About Factoring (And How YOU Should Respond)
If you’ve ever had a hard time convincing a business owner why he/she should use factoring, then I suggest you keep reading. I can assure you that if you’re prepared and possess the right attitude when approaching entrepreneurs about factoring, then you’ll be able making commissions in no time. In order to help factoring brokers better be able to sell the concept of “factoring” to incredulous small business owners, here are five common questions that that small business owners ask about factoring and more importantly, five answers to those questions. … [Read more...]
Factoring Business In The Dog Days of Summer
What? August already? Where did the year go? These dog days of summer are about the time of year when I wonder if I advanced my factoring business. Did I meet my goals? Although many people focus on how much money they made, not all goals are financial related. You might want more free time, streamlined marketing, or just to have more fun. Only you can decide your goals. The important thing to do at this point in the year is realize that it is never too late to accomplish them. No, this isn’t going to turn into some warm fuzzy article about finding your inner self and conquering the day. There is probably someone better suited on television for that. No, I just want to share that it is not too late to make 2012 a great … [Read more...]
Factoring Business Website and Survey Results!
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That is right! We turned our recent factoring business marketing survey results into a video case study! Plus there's a special announcement on the new factoring websites you won't want to miss. … [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...]