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Even before you officially open for business, you will want to
have a tentative list of people you can possibly train as
employees to handle the workload as your business grows. Rather
than pay these people a salary, simply give them a commission for
each client they handle. In other words, you can sign a client
for $100 over 10 months, sell the account to a factoring company
for 80% of the total, collect $80 in cash immediately, pay your
commission counselor $30, and bank $50 in profit with no real
work involved on your part. And if you have hired a good
counselor, you can rest assured that your client has been well
served.
Basically, that is how easy it is to put this kind of business
together and make it start paying off immediately. Remember, you
must be constantly soliciting new customers, and building the
number of customers you or your counselors talk to each day. You
should strive for an average of three counseling sessions per day,
five days per week, before seriously considering additional help.
At $10 per month from each account, this will give you $150
per week or a total account billing of $1,500 per week. By
factoring your accounts at 20% of their total value, you will have
an immediate cash income of $1,200 for the week. The factoring
company will handle all the billing and bookkeeping, eliminating
your need for those services.
The way to success in this business is, however, to keep this
happening every week. It will depend upon your advertising, the
service you give, and the reputation you build.
The prime requisite will be work and perseverance on your
part, but once you are established, with a few commission
counselors working for you, the business can easily gross $150,000
per year in even small to medium size cities. You now have the
knowledge; the rest - the action part - is up to you. Best of
luck!
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End of Reports.
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