Jason Jaquemann was an avid New York Yankees baseball fan. In fact, he seldom missed a game throughout the season unless work got in the way. In most cases on weekends, he would jump on his motorcycle and head to a local sports bar near his Tampa home where he would enjoy some wings and beer while watching on the big screens with friends.
Jason’s normal 9-5 job was carpentry and cabinet making for a local general contractor and although he earned a reasonably good living, he felt he needed another side job of some kind to get ahead. Jason enjoyed motorcycles and he was active in several bike groups in Tampa. He’d been thinking about trading in his old bike and buying a new Harley-Davidson for cruising but even with his good job, the money simply wasn’t quite there.
As Jason explored various home-based income opportunities he might be able to get involved in, one he had come across that seemed to be exactly what he was looking for was something called freelance factoring broker. From what he could see, this business was “solid” and had excellent income potential. Additionally this business featured a very low cost of entry, lower than almost any other home based business he’d considered.
Jason had actually learned a little about accounts receivable factoring when a attended a free course several years earlier sponsored by his local S.C.O.R.E. When he initially started researching business ideas, S.C.O R.E, workshops gave him several ideas on how to finance a new business. The S.C.O.R.E. instructors had used a sample guard service that used factoring to help make payroll when customers, mostly gated communities, were slow in paying their monthly invoices for security services. To quickly learn a little more on how it worked, he called one of the local S.C.O.R.E. reps who he had not spoken with for a while and after catching up he found that just as he had remembered, factoring services are very common for fast growing service companies that require cash to fund weekly payroll. But although the S.C.O.R.E. rep was very helpful regarding factoring itself, he was little or no help about the opportunity to actually work with factors as an independent agent.
Jason Becomes a Sponsored Agent for IACFB
Jason knew he would need more information and some training so he used Google to search the term “factoring broker training” and he found a link to IACFB. Even though he had the phone number from the website, Jason did not immediately call but simply viewed the expansive website to see if he could get more brokering information. He quickly
found a link to the IACFB’s Academy training programs. That was exactly what he was looking for.
Jason looked at all the IACFB information available in something called “the Academy Campus” and decided he would sign up for IACFB’s Sponsored Agent Program which was under $100 and included exceptional factoring training as well as a WordPress Broker business website with a VIDEO to generate leads. While he was on the IACFB Academy website, he also found a link to the Academy’s Magazine, which provided Jason with dozens of informative, FREE marketing and business development tips. But he couldn’t stay on the site long because the Yankees were playing at 7:00 and he needed to get to his local sports bar to get a good seat.
Jason Hits Pay Dirt
While at the end of the bar watching the Yankees game he struck up a conversation with another fan and as the two watched the game and conversed, Jason’s asked his new acquaintance what he did and he got a little surprise when he said he operated a commercial cleaning company. Jason then told him that was funny since he had just read about financing a commercial janitorial company in some training material he received.
And then Jason hit pay dirt. In one of the game’s commercial breaks, he asked his new friend if he had heard about invoice factoring services like he had recently read about. His new Yankees buddy said, “No, what’s that?
Now Jason was in a panic. He knew almost nothing about factoring, had no real training, and didn’t even have a website set up or business cards to hand out. But, he had learned a little about how it basically worked from exploring IACFB’s Magazine and from what he remembered from his S.C.O.R.E. mentor. So he explained what little he knew to his new friend who not only listened intently. But then he surprised Jason when he said, “Say, I may be interested in this factoring stuff. Can you send me some information so I can learn some more? And with that he handed Jason a business card.
Jason Becomes a Sponsored Agent
Jason was more than excited. The next day he called IACFB and explained what had happened the night before. Not only had the Yankees won the game, but as he explained, he also had a decent lead for factoring. Jason was guided on how to setup his account, access the Sponsored Agent Training Portal at the Academy, and to get his website up immediately. I was also told that the program’s website, a WordPress site, included a VIDEO salesperson that offered a FREE booklet on factoring. BONANZA! That was exactly what he needed to forward to his to commercial cleaning prospect.
As promised, IACFB provided Jason with a “quick” website setup and emailed Jason his credential to get into the Academy and begin training. But most important, he emailed a copy of his new website’s FREE offer, his booklet of “When Banks Say NO! The Small Business Guide to Factoring“. Later that day, Jason followed up to his new “prospect” to make sure he’s received the PDF guide.
Ernie, the owner of the commercial cleaning company, shocked Jason again. He said he had already looked at the information and was definitely interested. He wanted to know how he could get a proposal. So again, Jason called IACFB for help since he hadn’t even begun training in the Academy and had no idea how to proceed..
Jason now found out that although he would still need training, the Sponsored Agents Program was set up perfectly to handle this situation. You see, under this program, the “agent” only needs to refer a lead, a “Sales Qualified Lead”, and IACFB handles the rest. IACFB would call the prospect, provide the paperwork to submit a proposal, and quickly follow through with the underwriting process. So Jason quickly provided the Commercial Cleaning Company’s as the lead and Ernie, the owner’s contact information, and he was done!
Results and Conclusion
So the results were more than Jason imagined. IACFB stepped in with an Account Executive providing all of the additional information required for Ernie to make a decision to set up a factoring relationship. IACFB quickly arranged the financing facility with a factor that specializes in service companies and that was also geographically close to Ernie’s cleaning company. contracts were quickly prepared, sent to Ernie for signature and Jason now had his first client. Jason was a Broker of Record and will earn his first monthly commissions. And while Ernie’s business was not very large and only was billing about $70,000 per month in sales, it would still be enough to earn a good residual commission check of about $250-$300 every month ongoing. Additionally, as in almost all such instances, the funds provided by factoring will allow such service businesses like Ernie’s cleaning company to grow exponentially in a relatively short time. And for Jason, even though he had not yet received his first commission check, it was clear that this was the business that he wanted to be in and not only was he excited about getting his new factoring business fully operational, but he was no also looking forward to getting serious about that new Harley-Davidson since his commission checks would almost cover the monthly payment needed for the new bike.
Many factoring brokers operate part time and generate Sales Qualified Leads by simply by meeting new people, networking, and building new relationships. They are simply individuals that are in the right place, and at the right time, and that are armed with the necessary knowledge. In the above example, a small but quality account was secured by something as simple as chatting with a new acquaintance at a sports bar while watching a baseball game.
With quality training available at IACFB, operating as an industry Sponsored Agent realistically could not be easier and the cost of operation on this type of occasional, part time basis is just pennies per day. Also, understand that in the case of Jason who literally landed his first deal while he was training, the cost of that training program, under $100, was additionally reimbursed as IACFB’s standard “First Contract $100 Bonus”. And now, Jason will learn and benefit from all of the training provided by IACFB Academy for free with no monthly costs at all..
