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Your Consultancy
As you begin your career in commercial finance, one of your early tasks will be to set up your company.  At first this may sound like a simple task.  It is not.  Your company is much more than just a name. It is a "consultancy" and as a consultant, you must determine:

•  what types of products and services you will specialize in?
•  what will be your business goals and objectives?
•  what will be the schedule for accomplishing these goals?
•  who will be your primary and secondary target markets?
•  what strengths or experience you can bring to bear for marketing?
•  what additional expertise will you need to reach your goals?
•  what types of resources will you need to offer your services?

Product and Service Specialties
Well rounded commercial finance consultants will acquire a vast knowledge of small business alternative finance products.  Few, however, begin with an extensive products inventory.  Begin your business with a good working knowledge of factoring, asset-based lending, purchase order finance, and merchant cash advances.  These will likely always be responsible for 95% of your commission revenue.  Become an expert in these basics.

Business Goals, Objectives, and Schedules
It is not necessary to immediately develop a complete business plan for your business.  You should, however, set forth some basic business goals and objectives to better gauge your progress.  As a commercial finance consultant, you benefit greatly from the exceptionally lucrative income potential in the industry.  With factoring sourced revenue alone, it only takes 20-30 average accounts to earn a six-figure income.

Set a reasonable schedule for accomplishing your goals by the month or quarter.  This will vary markedly from broker to broker based on full or part time commitment and the number of hours you can devote to the business weekly.  Be realistic, especially during the first 3 months which are for "ramp up".

Your Early Target Markets
Fortunately, the alternative commercial finance industry has grown dramatically over the last 30 years.  Factoring, for example, was once the darling of the garment and textile industry.  Today, there are few B2B business sectors not touched by factoring and other alternative commercial finance products.

When first starting out, many successful brokers will focus heavily on the "service sector".  Service companies have great difficulty securing traditional bank financing due to limited loan collateral.  If you are familiar with a specific industry from previous employment, you will certainly have an advantage over others in prospecting that group of owners due to your knowledge.  You may also want to focus your early marketing efforts towards industries related to a sport or pastime you enjoy.  If you are an avid fisherman, for example, you might focus your marketing efforts on manufacturers of tackle and other outdoors products.

Marketing Strengths, Experiences and Expertise
When first starting out, it is a good idea to be "brutally honest" with yourself regarding your marketing skills.  Do you have a good command of the English language?  How are your telephone skills?  Can you speak publicly? 

Relax!. There is good news.  Many successful industry brokers begin their careers using very "passive" methods of business development such as classified advertising, e-marketing, and networking.  There is no need to put yourself in uncomfortable positions early on. You can eventually develop strong telephone and public speaking skills.  Give it time.  It is more important to simply develop some early business and income using methods that you are comfortable with.

Analyzing Your Resources
Whether you begin your career on a part time or full time basis, you will need to devote an acceptable level of resources to your business development efforts.  If cash is tight, focus heavily on networking.  Being at the right place at the right time and "looking right" is a "key" to success. 
 
Always attempt to "look" the part of the professional.  Be taken seriously.  There are hundreds of great lead-generating marketing methods that cost very little to implement.  Analyze your resources and devote what you comfortably can to your business each month.