We had a terrific reaction to the iPad offer. Thanks to all those who are already in line for one and for the rest – there is still time! Because it was so popular, we are going to extend the iPad offer to the end November.
And this update brings a new offer – please see below. This is an exclusive – something you won’t see anywhere else!
Business Review
Like everyone I speak to, the summer was predictably quiet and although we signed up some really interesting new clients and did some great deals, the level of activity was lower than usual. Since the end of the summer, the level of good enquiries has rocketed up – thanks to all my brokers and other introducers!
However, I think we have shared a similar experience to others – namely an all round reluctance on the part of potential prospects to commit.
I put this down to genuine and understandable fear and uncertainty at both the micro and macro level – better to do nothing than to make a wrong decision.
Our strategy for this economic climate – let’s work together!
My view is that if a business is reluctant to commit there is not much anyone can do to change that and it may well be the right strategy anyway. However, not committing need not be the same as doing nothing.
As I think you are all aware our single invoice factoring product can work very well in an uncertain marketplace because of the fact that the client makes no commitment
I think we can use this to everyone’s advantage. Why not think of single invoice factoring as a safe way to help your potential clients to dip their toe in the water without having to make a decision which is later regretted? Once that client has experienced the benefits of factoring as a concept there is a good chance they will want to talk to you about moving to a full factoring facility.
So if you are a funder or a broker working with other funders, let’s talk about ways of working together. We can get your prospects started using single invoice factoring while they make up their minds about committing to your full factoring offer.
Case Study
A business supplying the construction industry was turning down business for fear of being unable to finance the upfront purchases needed to start the work. Catalyst agreed to open a facility which potentially gave him around £150k line of credit. As a result of having access to cash at short notice, this client was;
a) able to negotiate improved terms with suppliers by ordering in larger quantities and paying up front and
b) was able to take on profitable business which he would otherwise have turned down.
Most of our factoring cost was covered by the supply discounts he was able to negotiate and the ability to expand has turned the business round from break-even static to profitable growth. If things carry on as they are, his need for factoring will reduce and he has the comfort of knowing that he can stop using our service any time he wants to
And now to the new offers;
1) iPad as before extended to 30 November - see my previous post for details
2) Portrait photography offer (same terms as for iPad)
Why not treat yourself and your family to some really top quality professional portrait photography? Catalyst will pay up to £400 of sitting fees and prints by Sylvain Guenot who is one of the best professional portrait photographers in the country.
For examples of his work look at his website – http://www.portrait-photographer-gloucestershire.co.uk/
