Finding Some Luck In The Factoring Business

lucky jackpot factoringHow many times have you read about a new startup and kicked yourself because you had the same idea? I remember when I was in college there really weren’t any big name coffee shops on every corner but there sure were a lot of students hanging out at the cafeteria sipping on coffee while studying. Fast forward a few years later and the idea of Starbucks seems like such a no brainer.

When we started our factoring company a few years ago the concept of financing accounts receivable was anything but new. There were many competitors with vast amounts of experience in the asset based lending arena. Prior to jumping into the ring we had diligently written our business plan, thoroughly studied our niche and built a marketing plan with the precision of a skilled surgeon.

Taking all of this into account do you know how many clients we funded in our first four months?


That’s right, we funded one deal and it wasn’t even in our target market. Within six months we funded a few more but they were nothing to write home about.

Then it was gut check time.

The reality is that most startups don’t make it past the first year. You reach a point where you weigh your options and decide if it is better to cut your losses and close the doors or to pivot and reevaluate your strategy. Most people would say the choice is easy by merely changing your strategy and moving on to the next phase. However, when your capital is draining and the phones aren’t ringing the choice isn’t as easy as it sounds.

After some closed door meetings we decided to double down on our company. We totally revamped our marketing plan and infused more working capital into the company. Our bets paid off. It didn’t happen overnight but as we funded more deals momentum kicked in and the rest is history. That’s not to say we sit back and count our blessings. We know our competitors are out there and it’s a challenge bringing in new clients.

So often we get caught up on waiting for our big break to happen or playing the lottery every week with the hope of hitting the big jackpot. Heck, when the last super jackpot was up to 500 million I’m not embarrassed to admit I went and bought a ticket. The point is there will always be the guy or gal that happens to be in the right place at the right time and hits it big. Instead of being jealous of my successful colleagues’ good fortune and writing it off as dumb luck, I think more of the hurdles they had to overcome to reach their goals.

Thomas Jefferson once wrote, “I am a great believer in luck, and I find the harder I work, the more I have of it”. Truer words could not be spoken but I’m still heading to Vegas next month.

Factoring Company Don DAmbrosioDon D’Ambrosio is the president of Oxygen Funding, Inc., an invoice factoring company located in Lake Forest, California. For more information, he can be reached at or you can visit his company’s website at





About Don DAmbrosio

Don D'Ambrosio assists companies with cash flow needs through invoice factoring services. You can connect with Don online through the Oxygen Funding website, LinkedIn or Google+

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