Commercial Finance Consulting and Lifestyle

Looking to leave the daily grind of the “employee” behind and reap the potential rewards of stepping out on your own?   More and more of today’s self-starters and mobile creatives are looking to do just that and few entrepreneurial vocations hold as much opportunity and potential as those related to some type of home-based consulting business.  In fact, consulting in general, is one of the easiest and least costly business ventures to undertake and that is because it can be comfortably launched, in most cases, while still holding down and generating the income from your 9-5 job.  There are literally hundreds of opportunities to be found in consulting but all are characterized by one thing.  The consultant tends to have some “beyond the norm” knowledge about a process or a product which they can and will share with those in need of that knowledge for a fee.   In the consulting business, the saying “knowledge is power” could not be more true.

Factoring Broker:  Is This The Ultimate Home-Based Business?

Everyone knows that banks and other lenders have salaried employees called loan officers that are charged with locating and developing new clients (borrowers) for the bank’s loan products.  What few know, however, is that virtually any individual can perform the exact same task, referring new loan customers to a particular lender or bank, and earn a referral fee or commission for such services.  In some cases, such “referrers” provide their services on something beyond an “occasional basis” and engage in this business of commercial finance consulting on a truly professional level.  Such consultants, often referred to as “factoring broker”, earn exceptional referral fees for their work, with such fees often being residual (continually paying) and for the life of theCommercial Finance Consultant account.  Is this a lucrative profession?  It certainly can be.  And as you learn more about it, you will come to understand why the business of factoring broker, may well be the ultimate affordable home business opportunity and one that you can easily enter on a part-time basis while still temporarily working your 9-5 job.

Be Prepared To Be The Center of Attention

One characteristic of launching a business as a freelance commercial finance consultant is the attention you will receive as you tell others about your business and your capabilities.  Make no mistake.  Becoming a successful freelance consultant in the factoring and alternative commercial finance industries is a very professional venture and most often of the suit and tie nature.  As you develop your knowledge of industry products and traditional bank loan alternatives, you will find that such knowledge easily surpasses that of your average loan officer or accounting professional.  In other words, your acquired knowledge of factoring and other alternative commercial finance products will set you apart from almost all other career professionals that provide services to business owners on a B2B basis.  As you begin to network with other professionals, you will find that everyone, and we do mean everyone, will be interested in what you do.

You Will Never Say:  “What Do I Do Today?”

Though factoring is strictly a service which caters to B2B business transactions, other products in your arsenal can provide financing solutions to B2C retail operators as well.  What this means is simply this.  According to the SBA, there are roughly 29 million operational small businesses in the U.S. today.  At some point in time, the vast majority of those businesses will need growth and working capital.  In other words, each and every one of those business owners is a potential prospect for your services.  As a factoring broker / commercial finance consultant, you will never rise in the morning with nothing to do.  You will always have meaningful work you can perform which you can convert to commission income over time.

Life as a Factoring Broker:  Flexibility and Opportunity

As with many home-businesses, brokering factoring transactions is one of flexibility and opportunity.  You are the CEO of your own business and can devote as many hours to it as you desire.  Additionally, you have complete control over how you operate and market your services.  If you have time during the day, you may devote some to direct marketing such as direct mail followed up with a cold call.  If your days are reserved for a regular 9-5 job and speaking with business owners is not possible during normal business hours, after hours networking, in person and social media, can easily be utilized to develop leads, prospects, and sources of referral.  As mentioned, there are 29 million small business owners in America and they are everywhere.  Your job is simply to introduce yourself and your services to as many as possible and any way possible.  Unless you are a reclusive hermit, the opportunities for networking are endless.

Gaining Knowledge, Knowledge, and More Knowledge

As we previously mentioned, consultants earn their living based upon valuable knowledge they have acquired about a specific product or process.  As a factoring broker, you can measure your success by…

  • the product knowledge you have acquired
  • your ability to locate and market to those in need of that knowledge

It is really that simple and most importantly, gaining industry product knowledge is relatively easy.  With a little effort, you can be a certified expert in factoring and alternative commercial finance within 30 days of your startup with just a small amount of assistance and a few training publications.  In fact, this online magazine will provide you with much of the knowledge you will require if simply paired with a quality training publication such as the IACFB Consultant’s Guide to Factoring.   You will also be surprised at how quickly you can accumulate the necessary knowledge of important business finance products simply by visiting the websites of various lenders.  IACFB’s Directory of American Factors and Lenders provides links to over 500 factors and alternative commercial finance lenders which are available to it’s brokers just for that purpose.

So…Jump In!  The Water’s Fine

While a few will say a career in factoring as a freelance broker is not for everyone, that is probably not entirely true.  Almost anyone can participate in this exciting industry on some level.  True, some will do better than others as they start out simply based on the “soft skills” and experience they bring to the table at startup, but these skills can also easily be developed and acquired with some hard work and perseverance.  And with the cost of entry into the industry exceptional low, why not take the chance and jump in.  The water’s fine.  Find out more at the factoring broker training site at IACFB Academy.