Here’s your Cash Flow Business Tip of the Week

When initially figuring out how to set up your business, try to pick a company name that errs on the side of “generic”; that way, you have more room for diversification/ flexibility. For example, “ABC Funding” states the general nature of our business without pigeonholing you into a specific specialty. You might initially specialize in seller-financed real estate notes, for example, but you may branch out into accounts receivables (factoring), structured settlements, etc, etc— and you won’t have to worry about changing your name. You might also just choose part of your surname to make it even more generic. Think in terms of presenting yourself much like a bank or a law firm. Make your name professional-sounding and serious. I’ve heard quite a few bad (in my opinion) names used by some brokers, like ‘Joe Note Broker’ (I’m paraphrasing here, but this is pretty close to the sort of names I’ve seen used. Now, I want you to ask yourself a serious question. If  YOU were looking for a professional company to cash you out of an asset, would you even consider calling a company with a name like this?? Or would you call at attorney that called himself “John the Attorney”? No, you wouldn’t. Sounds too “down-home”. We are NOT “down home”. Present yourself as  professional at all times and pick a no-nonsense name.

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