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FactorTips
from SmallFactor.com
& Dash Point Publishing, Inc.
Jeff Callender, Editor
How to reach us:
PO Box 25591
Federal Way, WA 98093
(253) 925-1948 Tel
(253) 719-8132 Fax
email: info@SmallFactor.com
(c) 2004 Dash Point Publishing, Inc. All rights reserved. Reproduction of the copyrighted
articles and information in this ezine without express permission of the Editor is prohibited.
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Combined April - May Issue
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Due to my involvement at the American Cash Flow 2004 Convention in New Orleans in May, this FactorTips is a combination issue for April and May. The next FactorTips will be published in June.
If you’re going to Cash Flow ‘04,
please take a moment to introduce yourself. I’d love to meet you! See you in New Orleans!
Jeff Callender
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Is Your Small Factoring Business
Listed in SmallFactor.com?
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Attention small factors! Is your company included in the Factor Listing of SmallFactor.com? It can be a great source of referrals and it’s FREE!
What’s more, if you have a deal you can’t do,
chances are someone on the listing will be interested in it. Find an appropriate referral and make the call. Bookmark the page!
To be included on the Listing, requirements are that you:
are presently purchasing receivables (not just planning to, or consulting only) accept accounts which factor less than $10k per month. pay a 5% referral fee to SmallFactor.com when you book business through your listing without using a consultant.
The Listing’s purpose is to assist smaller factors who do not fund large receivables. (We may make exceptions for niche
factors who specialize in trucking, construction, and medical receivables.) Companies with maximums over $500k are encouraged to use web site listings suited to these larger receivables.
To see the Listings which are sorted by State go to Listings. To be included fill out the form at Request Listing.
Links to listed companies’ web sites are
provided. Contact each to learn the parameters of transactions they fund.
NOTE: Recently our email program inadvertently deleted several new listings requests. We apologize for this error. If you requested a listing during
the last couple months and it has not been included, please complete the Listing Request again. Thanks!
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Marketing Tools Book Is Released!
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 Our new book, Marketing Tools for
Small Factors and Consultants: A Hands-On Guide to Methods that Work, is now available!
Reviewers are giving high marks to this new book! For example....
“If you want to know which
marketing methods are the most effective and which methods are a waste of time and money, read this book.”
Richard Koroki – Torrance, CA
“Chock full of tips! Without this book, one could spend hundreds
or thousands fumbling around trying to figure it all out.”
David Martin – Spring Hill, FL
“I wish I had this book when I first started. This is a must read for
all first time consultants. It provides first hand information of what to do and not do, and what to expect.”
Robert Woller – Vancouver, WA
Price of the paperback is $17.95 plus shipping ($3 Media Mail, $7 Ground). A Home Study Guide is available as well. The bundle
price of the paperback and the Home Study Guide is $26 (Ground shipping included!), or $21 for the eBook version and Home Study Guide. This book is also included in several new Consultant Bundles...one of which is on sale this month. (See below)
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 Each issue we give away a free item from our catalog! Congratulations to Mauro Goldbach of RAIA Factoring in Sao Paulo, Brazil, who was the third person to email and won a free copy of Unlocking the Cash eBook!
I’d like to thank all who email your replies...sorry I can’t reply to each of you. And now
for the Free Give Away for this issue:
 This time, be the 10th
person to email
info@factor-tips.com (Subject: Free Give Away) and you will receive a free copy of the new eBook, Marketing Tools for Small Factors and Consultants
. Good luck!
Jeff Callender
Editor
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International Interest
in Small Factoring
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Subscribers to FactorTips and those interested in factoring small accounts are not limited to the U.S. People in the following countries read FactorTips and/or have purchased materials from Dash Point Publishing:
- Australia
- Brazil
- Bulgaria
- Canada
- Hong Kong
- Ireland
- Japan
- United Kingdom
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Legal Documents for
Small Factors Are
Now Available!
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Factoring Legal Documents are now available from Dash Point Publishing! Provided by the law offices of Jencks & Jencks, P.C.,
which represents and provides services to commercial factors, these documents are just what you need to get started, or strengthen your legal position with new clients. David Jencks considers factoring
to be his legal specialty and is well versed and experienced in this unique business. Here are three choices for legal documents for your operation:
Basic Legal Documents provide the starter contracts and support documents to get you up and running. David Jencks will answer questions you have
about using these forms.
 Additional Legal Documents are for those who have purchased the Basic Legal Documents and need additional forms or legal counsel, and include two
hours of consultation time with Mr. Jencks.
The Complete Legal Package provides everything in the two choices above, in one comprehensive package for a discounted price.
These legal forms and contracts provide greater legal protection for small factors than those offered earlier in Dash Point’s Record Keeping Templates, and are now recommended
for use. The Record Keeping Templates are still offered with many forms (now at a lower price), but no longer contain legal documents.
To find out more and to order, click here.
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Cash Flow ‘04 Pre-Convention Course:
Funding Small Receivables
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I will be leading one of only three pre-convention classes this year prior to the American Cash Flow Association’s
Cash Flow 2004 convention. This course is called Funding Small Receivables
and is a 2-day class, meeting on Tuesday and Wednesday, May 25 - 26, from 9 - 5 both days. The location is the Hilton New Orleans Riverside Hotel, site of the convention.
Here is the outline of the sections of the class:
- Introductions
- Factoring Basics
- Risk and Its Management
- Money
- Marketing
- Due Diligence
- Common Mistakes
- Case Studies
- Legal Documents
- Office Setup and Procedures
- Software for Small Factors
- Resources for Small Factors
- Getting Under Way
Cost of the course includes 2 days’ instruction plus a
workbook and all four books of the Small Factor Series:
- Factoring Fundamentals
- Factoring Small Receivables
- Factoring Case Studies
- Unlocking the Cash in Your Company
Leading the class with me will be Ralf Bieler and Robert Vasquez. Ralf is President of Multiple
Funding Solutions, Inc., a small factor in Tequesta, Florida, who will be admitted to the Million Dollar Club during the convention after entering the industry in 2003. He will be presenting the material
on Marketing, his field of expertise. Ralf was a contributor to the new book Marketing Tools for Small Factors and Consultants, and is the author of the upcoming book, Marketing Magic: The Bigger Bang for the Smaller Budget.
Robert is Chief Operating
Officer and head programmer for BluBeagleTM software in Homestead, Florida, and will be presenting the Software section. He’ll give a thorough demonstration and answer questions about this new web-based program developed especially for small factors and consultants. You’ll see how BluBeagle’s numerous features work, several of which are not available in other factoring software, even those costing many times more.
The class is sponsored by ACFA; to register call them at 800-253-1294. Ask to speak to the registrar for the Pre-Convention classes. Cost is $295. The regular convention begins the following
day, Thursday May 27, and runs until Sunday morning, May 30. There is still room for people in this class so if you’d like to sign up, now is the time!
If you can’t come to New Orleans, the class
will be developed into a course this summer and be available from Dash Point Publishing and BluBeagle. Look for more information in upcoming issues of FactorTips.
See you in New Orleans!
Jeff Callender
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 Each publication we announce the winner for that issue’s free drawing.
When you register to receive FactorTips you
are automatically entered into a new drawing to receive an autographed free copy of one of the paperback books from our catalog.
The winner for this issue is Deepa Sundararajan.
Congratulations, Deepa!
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Account Executive Training
from IFA
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The International Factoring Association
is excited to announce the first ever Account Executive / Loan Officer training class for the Factoring Industry. The course will be held June 10 & 11 at the Monte Carlo Resort in Las Vegas, NV.
The course is for those who are already familiar with factoring, and wish to increase their knowledge regarding monitoring and running a portfolio. This course is designed for
1) Factors looking to reaffirm their procedures
2) New employees in a factoring company
3) People looking to get into factoring
The following topics will be covered:
- Invoice Verification Procedures
- Checking the Paper Trail
- Reviewing and Approving Debtor Credit Limits
- Dealing with Credit Memos
- Reserve Management
- Collection Calls
- Management of the Accounts Receivable Aging
- Monitoring Tax Payments
- Collection Procedures
- Specific Industry Concerns and Pitfalls
- Client Service Techniques
- Early Warning Signs
- Working with Government Contracts
- Management Policies and Strategies
- Documentation and Compliance Procedures
- Assignment Procedures and Issues
The fee for this course is $695 for IFA members, and $745 for Non-IFA Members. A special rate at the Monte Carlo
of $79 has been negotiated for this event. You can make room reservations by calling the Monte Carlo at 888-529-4828 and ask for the XFACTOR rate.
To register with IFA for this course, and for
more information, click here.
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Reader’s Featured Web Site
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Each issue we feature the web site of one of our readers. Our purpose is to highlight the niches and expertise
available within our community so that everyone reading FactorTips can make good use of them.
To request your web site be reviewed for this feature, drop an email to: info@factor-tips.com and put in the Subject line “Featured Web Site.”
This issue’s Featured Web Site is that of Chasemark Financial Services, of Bartlett, TN. Lee
Ragland is the owner. Take a look at this site by clicking the link below.
Chasemark Financial Services
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Business Services Classifieds
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The BluBeagleTM suite provides powerful yet easy to use
software for factors and consultants alike, at prices that fit any budget. Register for a free online demo by clicking the link and
completing the form on BluBeagle’s home page. |
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David Jencks is a partner in the law firm of Jencks & Jencks, P.C.
located in Madison, South Dakota. David's law practice consists primarily of assisting
small and medium sized factoring companies in structuring transactional documents, company set up, and contract litigation. David also also represents regional lending institutions in preparing loan documents, problem loans and foreclosure litigation.
David can be reached by telephone at 605.256.0121 or via email at: davidjencks@hotmail.com.
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Need help with your marketing? Consider this:
 “If I had spent $97 on the Marketing Makeover Kit 3 years ago, it would have saved me thousands of dollars and hours!
It's giving me the thing I need the most -- focus! So, many thanks to you for it!"
Now you can purchase the Marketing Makeover Kit on your choice of CD or audio tape. But that's not all! Every title has been re-recorded with fresh, new,
inspiring content and excellent sound quality.
Kendall SummerHawk’s CDs/tapes can be purchased from her site by clicking here. They are also a part of the Small Factor Collection available from Dash Point Publishing.
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