Building an Agency Network
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Lesson 1.08: Building an Agency Network
Networking is a key component to success as a factoring broker / business finance consultants and developing networks with bankers and others is important. One of thefastest methods of building networks, however, and one that can dramatically expand your business and your leads exponentially is to develop your own network of sub-brokers or “bird dogs”. And doing so in today’s “gig” economy is very easy to do.
Find out more by viewing the video at left and then reading the supporting article below.
Building an Agency Network
For all IACFB members, networking will play a major role in your lead generation efforts and all will work to develop relationships with bank lending officers and accounting professionals that can send leads and prospective clients their way. For “career-oriented brokers and consultants, there is another network that alone can make your brokering business incredibly successful and in a relatively short period of time and that is to develop your brokering business as an “agency”.
What is an “Agency”?
Simply put, an “Agency” is a business that employs agents to assist in the lead generation process. In some instances, agents are salaried and in others they earn commissions. How they are paid is not important. What is important is how trained agents can make your business more successful. For factoring brokers and consultants, agents are simple referrers. They are “bird-dogs” that you enlist to generate leads. Agents for factoring brokers represent a network of trained semi-professionals that operate on a zero cost basis and that send leads to you for consideration. If leads turn into clients, you will share your commission with the referring agent.
Like Multi-Level Marketing
For factoring brokers, agents act much like a “downline” in multilevel marketing. They are nothing more or nothing less than lead-generators that send business owners in need of cash to you. For brokers that operate under the “agency concept” one of your primary goals is to build an expansive network of 100, 200, 500 or more proprietary agents under you that do nothing more than send you the “occasional lead”. These are not individuals that working even 5 or 10 hours a week. They work sporadically and occasionally. If you have a network of say 200 agents and each “agent” sends you even one quality lead per year, your factoring broker business will be immensely successful.
How Your Agents Are Trained
As part of the Factoring 101 and Commercial Finance Consultant Training Programs, we provide you with a specific set of lessons on how you can set up an agency / agent program with zero cost to you and and minimal cost to your agents. Your agents are trained through the sponsored agent training class at Campus IACFB. With virtually everyone looking for a home-business in today’s “gig” economy, you will find you have little trouble building this highly productive and important network of referrers.