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Selecting a Contact Manager (CRM)
System
As you begin your marketing efforts, whether a BIZCAP, Broker4Us, or independent consultant, you will soon learn the importance of database / contact management and networking.  While part time consultants that only network or market on a very "occasional" basis may be able to get by without a contact manager, this is simply not the case for career oriented brokers.  The reality is, an independent factoring broker in the business for even a year will likely have well over 1,000 contacts and prospects to market to and manage.  Those in the business over 5 years may have over 10,000.  You simply cannot manage those kinds of numbers with business cards wrapped in rubber bands.

The key to "getting business business to come to you" networking and organization.  Every prospect (business) must be organized as to the type of product or service it offers, current financing in place, contact information, etc.  You must also track every email or mailing, results of follow-up, and maintain a future schedule for prospecting.  It is essential, repeat, essential that you create informative newsletters and bulletins each and every month which are provided to suspects, prospects and especially your groups of referral sources (lending officers, CPAs, etc.
 

Properly configuring or organizing your database management software early on will save countless hours of re-organizing later when you ultimately understand just how powerful well thought out contact management can be and useful it is in generating a constant supply of leads.  For example, if a local community bank announces it is shutting its doors, wouldn't a list of contacts doing business with that bank be useful?  If a disaster, such as a hurricane, is imminent in a particular geographic area, wouldn't you like to be able to pull a list of business you are prospecting in that region to promote factoring?

Database managers organize your lists of prospects and sources of referral for immediate access when time is of the essence.  With good database management habits, you can quickly build relationships with both business owners and referral sources that will lead to a rapid buildup of commission generating accounts.  Organize...Organize...Organize. 

You will be learning how to build networks in future weeks as well as how to search the UCC for prospective clients.  You must have and be familiar with the use of your database manager by that time.  Explore the web for database management software such as ACT or Goldmine and especially the FactorMax Guerrilla website at www.factormaxbds.com.