Six Tips For A Beginning Factoring Consultant or Broker

If you are new to the factoring industry or are considering becoming a factoring professional, this article is for you. I have been involved in the industry for a decade and through the years have seen a number of consultants do well. However, I have also seen a large number of consultants leave the business – unable to make ends meet. Many of those consultants made critical mistakes that could have been easily corrected. These tips are intended to help you avoid making those mistakes. Tips For Starting as a Factoring Consultant or Broker Tip #1: Know your product This is the cardinal rule for success in any industry. You have to know your product, and know it well. However, most beginning consultants don’t spend enough time … [Read more...]

Learning The Language of Factoring

How factoring brokers can approach prospects professionally by learning the language of invoice financing. One never gets a chance to “recapture” credibility. In working with businesses that need cash, the factoring consultant must display characteristics that instill confidence in the prospect. A professional approach requires a … [Read more...]

Factoring For the Tortoise and the Hare

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...]

How Factoring Brokers Earn Fees

With numerous factoring courses and factoring books available online, many people wonder just how factoring brokers earn their fees. While factoring commissions are paid in a variety or ways, there are some standards to start with. … [Read more...]