Contractor Invoice Advance

A financial service that pays contractors/freelancers immediately for their outstanding invoices, taking a small percentage fee while waiting for the actual company payment to come through.

Key Points:

• Core Service:

  • Pay contractors the full invoice amount upfront
  • Take 5% fee from the total
  • Wait for and collect the actual company payment later
  • Handle payment follow-ups with companies

• Target Market:

  • Freelancers
  • Contractors
  • Consultants
  • Anyone working on 30-60 day payment cycles

• Value Proposition:

  • Immediate access to earned money
  • No need to chase payments
  • Willing to take slightly less money for instant payment
  • Removes payment timing headaches

• Example Case:

  • Contractor has $20,000 in outstanding payments
  • Would accept $19,500 to get paid immediately
  • Service handles collecting the full $20,000 from companies
  • Profit is $500 on the transaction

Note: The speaker mentions this is a common idea that keeps coming up but hasn't succeeded, and asks listeners to identify potential problems with the business model.