About the Business of Brokering in the Factoring and Alternative Commercial Finance Industry

Career Opportunities as a Broker in the
Factoring and Alternative Commercial Finance Industry

A career as a consultant or broker in the factoring and alternative commercial finance industry offers an exceptional opportunity for those armed with the necessary product knowledge and sales capabilities to take advantage of the industry's almost legendary compensation system of residual commissions and finder's fees.  Productive professionals will enjoy extraordinary income potential, inherent job security, and the freedom and flexibility that comes with being your own boss.  As an industry consultant, the services you offer are constantly in demand by individuals, small business owners, and large corporations alike. Below are some common questions asked by those initially exploring this unique vocation.  

Q.   How difficult is this career to enter and what qualities are necessary to become an industry broker?
A.   As a vocation, the industry is relatively simple to enter since most begin their career from the convenience of their home with a home-based office.  Qualities for success are another matter.  This is a sales career with earnings as a function of your sales success.  Sales is a numbers game.  Do you have basic marketing skills and can you network with others?  Do you have good communications capabilities and are you comfortable making presentations to business owners?  Can you look and dress the part (this is a suit and tie business)?  Do you have the necessary capital for living expenses while you launch your career?  Answers to these questions will to a great extent determine how difficult this industry will be for you to enter. 

Q.   What is a typical successful broker profile?
A.   Considering the skill level necessary for industry success (marketing skills, dress, communications skills, etc.), those that come from similar sales-oriented professions tend to have very high success ratios in the factoring and alternative commercial finance industry.  This will include; mortgage brokers, insurance agents, ex-stockbrokers, business brokers, manufacturers reps, etc. The industry is one of considerable prestige and requires some "polish".  Can anyone succeed? Yes!   But some will have to work much harder than others with some of that work involving the development of good communications skills and redefining their personal image.  Making the transition from assembly line worker to the "Wall Street look" can be difficult.  Some promoters sell this career as easy.  It is for some, but can be very difficult for others with no professional sales experience to call upon.

Q.   Can this career be entered on a part-time basis while I continue to work my normal 9-5 job?
A.   Yes, but you will need to either have or develop a "marketeer's" mindset for direct-mail based marketing. Since you will not be able to attend appointments with business owners or network effectively, you will primarily be a lead generator and be much more dependent on prospect identification, direct mail marketing, and the ability of your web site to handle lead generation.  Complete training in these areas and a professionally designed lead generating website is provided with the FactorMax Guerrilla System.

Q.   What part does Datamax play in assisting to develop my career?
A.   First, you must understand the role of Datamax.  As the developer of the Factormax Guerrilla Business Development System, Datamax is a primary trainer of industry brokers.  As such, we provide a "packaged" broker network solution to factors and others in the industry.  Our training solutions are inexpensive and comprehensive and designed to:

• Assist factors and lenders in developing productive broker networks with 50-100 active DMS-trained brokers.

• Support our broker networks with lead-generating marketing materials.

• Assist our networks in deal packaging and in selecting the right lender for purchase.

Q.   Where can I get additional information about this career to determine if this is a career opportunity for me?
A.   For those interested in a career as an independent consultant in our industry, we have assembled our Guide to Consulting and Consulting for Profit in the Cash Flow Industry which is available from our web store for $39.00 plus postage and handling.  For those unsure of this vacation as a career alternative to their current situation, we strongly advise this no-nonsense booklet for an in-depth look at the industry, the importance and roll of the independent broker as a source of business, and how Datamax training and mentoring can greatly assist you in entering the industry quickly and profitably.