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The American Cash Flow Convention is in Dallas next week and I’m very excited to be giving several presentations.
Pre-Convention Workshop.
The first is a full-day Pre-Convention Workshop held Wednesday, May 21. Pre-registration is required for this class and costs $99 through ACFA. This class will cover the nuts and bolts of running a small factoring operation, including how to pre-qualify prospects, basic due diligence procedures, account setup and paperwork processes, how to make bookkeeping entries, how to track and follow up on factored invoices, review available software, learn rebate practices, how to calculate your returns, and more.
Material from all four books in The Small Factor Series will be used. This class will provide a lot of small group time, which I always enjoy. If you can’t attend, this material will be transformed into various eCourses
which Dash Point Publishing will begin offering this summer. Look for them!
Convention Classes. During the convention I will be making three presentations and holding drawings for free books at each one.
How to… The first class is called “How to Make Large Returns from a Few Small Receivables.” The first part of this workshop will show how to calculate returns on your factoring investment, and includes an introduction to
our simple but very handy APR and Income Calculator spreadsheets. The next part of the presentation will go into numerous resources created specifically for small factors. Finally, risk management tools that can and should be
used by anyone buying small receivables will be presented.
Small Factors Panel. The second presentation involves a panel of small factors which I will be moderating. This panel will be made up of four people from
across the country with a variety of backgrounds and wealth of experience. All four are graduates of ACFA programs and are contributors to the book, Factoring Case Studies. They bring an abundance of know-how which will benefit brokers and anyone interested in purchasing small receivables.The panelists include:
Mike Abed of Mach 1 Funding, Escondido, CA
Joanne Blaser of JMB Business Funding, Rockford, IL
Ken Earnhardt of KLT&J, Inc., Mt. Pleasant, SC
Rebecca Karp of Jaybec Business Funding, Olney, MD
The panel has a long list of topics to discuss and while every item on the list may not be covered due to time limitations, the topics
include:
How they started and their motivation to begin purchasing receivables. Their source and amount of capital when they began. The number of clients they fund and their clients’ monthly dollar volume range. Marketing methods they find effective. Methods of keeping overhead low. Due diligence procedures they use. Industries they fund and industries they avoid. Factoring and accounting software they use. The approximate Return on Investment they earn. Specific advice they would give to those thinking about purchasing receivables. How they measure success.
Q & A.
Finally, I’ll have a Q & A session which will have no prepared material, but simply be an open-ended time for you to bring any questions you have. I’ll be happy to address any issues about factoring small receivables that you want to discuss.
I look forward to meeting many FactorTips subscribers and others interested in learning more about factoring small receivables. See you in Dallas!
Jeff Callender
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