2 of 2 people found the following review helpful:
good book great series, 2007-05-24
This is part of a four book series where the author tells all about the factoring business. This is the first in the series but, I have to admit, I read the case studies book first. If you want to know why you should read that review.
While this book did not answer all my questions, (I have two more to read anyway) it did a great job in answering questions that I had not thought of yet. He is very clear, and does not go over and over the same material. The best parts of the book are not where he tells you what factoring is and how it works. No, by far the best parts are in two other areas; analyzing if you are right for this business and suggestions for how to learn the business without losing your shirt.
While analyzing if you would be good in this business Jeff lists all the attributes that would help you, and some that might be a problem. Good things to have are people skills, determination, enough math to know if you are making any money, and attention to detail. Surprisingly a large bank account is not on this list, which brings us to the other best part of the book.
Jeff says a large bank account can be a hindrance because you are tempted to jump in the deep end before you know how to dog paddle. Starting with a small amount of money, and one or two clients lets you learn the business and lets you get your rules and processes in place before you go full time.
Not only can this be a good paying part time business, the author suggests, recommends, and encourages you to do this part time while you learn the business. Sounds good to me.
26 of 28 people found the following review helpful:
Factoring Fundamentals - The epitome of good advice, 2003-02-23
Factoring Fundamentals by Jeff Callender is the ultimate guide to the world of Small Factors. It describes in vivid detail the opportunities and risks one will encounter in this line of business. Furthermore - and perhaps even more importantly - it helps you understand how to capitalize on these opportunities and manage the risks in the most appropriate manner.The book highlights and explains the "how to's" and the "do's & don'ts" of Factoring in plain English and leaves the reader with a thorough understanding of what this business is all about, what to expect, and how to succeed.
Based on his own long-standing experience as a Small Factor, Jeff shares his vast learning and outstanding personal expertise, including the conceptual constructs behind the business together with the necessary processes and procedures. He even provides invaluable hands-on advice and his own financial calculations on how to run this business successfully.
But Jeff does not stop there. He kicks it up a notch by even including a section for "self-assessment". This section lets you analyze whether Factoring provides the right environment for you, and whether you have got what it takes to make Factoring an enjoyable business for you to excel in.
Factoring Fundamentals is written in an illustrative, no-nonsense, easy to read style that - in conjunction with the book's captivating contents - actually makes it a real page-turner. Once you start reading, you will want to finish it in one go. And how often can one honestly say this about a business or educational publication?
In the end, I am happy to say that Jeff's Factoring Fundamentals have even played some sort of a Godfathering role in helping us get our own small-business-funding corporation off the ground successfully. Without his numerous insights and golden nuggets of priceless advice, we could have easily overlooked some of the crucial details. Today I am very glad we didn't.
But regardless of whether or not one finally decides to enter the arena of Factoring, Factoring Fundamentals should be top of the must-read list for anybody who even toys with the idea of becoming a Small Factor, or who simply wants to learn the basics about a very rewarding business niche that not too many people know much about.