What Type of Factoring Broker Can You Be?

Just as factoring, as a method of business finance, is characterized by it’s flexibility, so is the business of brokering factoring transactions.  In fact, there really is no standardized type of industry consultant.  And it’s this industry flexibility that leads us to say that this home-based business is truly an entrepreneur’s dream.  It is an industry and opportunity where anyone and everyone can participate and fit in.

In the IACFB’s brokering community, you will find…

  • FACTORING 101 (REFERRERS):  Operating on simply an occasional basis, industry referrers generate virtually all of their leads and prospects through networking and most often, networking on social media such as Facebook and Twitter.  Being an industry referrer is also the least expensive way of getting involved in the industry.  It involves none of the standard marketing costs associated with direct marketing such as advertising, postage, printing, etc.  All leads are generated by word-of-mouth.  Although most “referrers” will opt for a website along with a professional domain associated business email, that is usually about it.  Set up cost for referrers is under $200 with no monthly operating costs other than website hosting and perhaps business cards.
  • FACTORING 101 FREELANCE CONSULTANTS (PROFESSIONAL):  Freelance Factoring Consultants are professional brokers and are usually full-time  career oriented.  Though they may enter the brokering community temporarily shackled by a 9-5 job, it is their intention to leave that job far behind once they have begun to earn significant commission income.  Freelance consultants will utilize all types of marketing for business development but may gravitate more heavily towards certain types.  Many successful freelance brokers, for example, predominantly use networking and spend the vast majority of their day speaking with lending officers, accounting professionals, and others that can refer meaningful business to them.  Others, such as consultants located in more rural areas and without the opportunities to network, will focus very heavily on direct marketing (direct mail, email, classified advertising, etc.) and usually followed up by telephone contact.

Where Do Most New Industry Broker Start?

Without question, most new to the industry begin as simple referrers, at least for the first six months or so.  Factoring, as a method of business finance, is relatively simple to learn and understand.  Learning the ropes regarding marketing, and especially B2B marketing, is not.  Becoming proficient in the industry’s basics with the assistance of the various support products of the IACFB is both low cost and something that anyone can accomplish.  After you learn all about the industry’s nuts and bolts, however, you will then need to immerse yourself in learning how to market and present your new found knowledge to prospects.  Your success as a consultant (as in many other business ventures) will depend very heavily on how much time you devote to developing your marketing and lead generation skills.

IACFB’s Professional Freelance Brokers will incur additional costs other than the typical $200 Business-in-a-Box setup.  These costs will include:

  • Subscription costs for a CRM (such as Pipedrive) for list building and relationship management and for an email marketing / management program (such as Drip)
  • Membership costs (Chamber of Commerce, Fraternal Organizations, etc)
  • Direct Marketing Expenses (Postage, Mailers, Entertainment Expenses, etc.)

Getting Started

To get started as a factoring consultant with IACFB, you simply need to setup your Business-in-a-Box Factoring 101 Program.  You will need…

Setup is very simple…

  • Click here to purchase your Factoring 101 Program from DMS WebHost ($199.95 plus website hosting)
  • Once we activate your purchase (within 24 hours) you will receive an email with you login credentials to IACFB’s Marketing Support Areas for website setup and marketing training
  • Your Factoring 101 Training Guide will be mailed via Fedex Ground (1-5 day delivery)
  • You will typically be up and operating within 5 days

REMEMBER:  With the IACFB Factoring 101 Program, you are guaranteed full program cost reimbursement ($200) with the submission, acceptance, and funding of your first deal.  This is in addition to our industry leading 12.5% – 15% broker commission schedule as well as trophy prize points and bonuses.

Click here to get started now! 

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