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…
- 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. Through IACFB, set up cost for referrers is about $150 including Factoring 101 Training Guide and standard factoring broker website. Most referrers have no monthly operating costs other than website hosting and perhaps business cards.
- FACTORING 101 FREELANCE CONSULTANTS (PROFESSIONAL): Freelance Factoring 101 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 one type than another. 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 their way. 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. Mastering marketing, and especially B2B marketing, is not. Becoming proficient in the industry’s basic product concepts 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. This is a niche consulting business and 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 as they develop their business. 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 MailChimp)
- Membership costs (Chamber of Commerce, Fraternal Organizations, etc)
- Direct Marketing Expenses (Postage, Mailers, Printing, Entertainment Expenses, etc.)
To get started as a factoring consultant with IACFB, you simply need to become a Professional Member (Referrer) by purchasing IACFB’s 5-star rated Factoring 101 Training Guide. The Factoring 101 Broker’s Training Guide is just $39.95 and available from Amazon.com. Guide purchase also includes access to IACFB’s Learning Lab with articles and instructions focused on every aspect of industry entry. Optionally,
- A website domain and business name (more info here)
- Factoring 101 Website (this is provided with the Business-in-a-Box program)
- Sales aids and templates (this is provided with the Business-in-a-Box program)
Setup is very simple…
- Click here to purchase Factoring 101: A Broker’s Guide directly from Amazon.com $39.95
- To enter on a professional level with career aspirations, click here to purchase Business-in-a-Box through DMS WebHost ($159.95 plus website hosting)
- Once IACFB activates 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
- 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.