Cash flow, finances in general and how to access funding from third parties to help ease cash flow is something that many small business owners continue to struggle with.
On today’s show, Annemarie Cross is joined by Charles H Green, a recovering Banker with 30-year career in finance and author of Get Financing Now: How to navigate through bankers, investors and alternative sources for the capital your business needs.
According to Charles many ambitious entrepreneurs aren’t aware of the market place and therefore don’t necessarily know the most appropriate or the best source of funding. Because of this they start to negotiate with the first party that comes along, leaving themselves wide open to predatory people working in the banking industry.
Don’t be fooled into thinking you need to take the first deal that comes along. And, don’t feel that you have to accept conditions that just don’t make sense for you. Do your homework first.
Listen to just a few of the many tips and strategies Charles writes about in his book, including:
• The Best Sources for Start-up Capital:
o Why it’s important for startup businesses to be financially independent before involving a third party. Consider going into business more moderately. You don’t need a large office or the best equipment/motor vehicle, or even to take prospects out for expensive lunches.
o Why you need to speak loudly even if you have a small stick: you can be as big as you want to be by leveraging online and social media technologies.
o How to get someone to pay you to develop (a product/program/system) and then sell it to everyone else: Charles shares his personal success story where he was paid to develop a comprehensive spreadsheet, which he is now going to leverage and sell to other clients.
o Approaching a potential partner to collaborate and contribute capital to your business.
o How to create cash out of thin air.
• What to prepare and what to expect when approaching a bank and/or investor.
• Getting to the bottom of no: what to do if your request for funding/capital has been declined.
• And much more.
Need to ease your cash flow and get more funding into your business? Charles will show you how.