Wednesday, April 11, 2007

Money Money Money

That's the stuff that seems to vanish into thin air when starting a business. From talking to thousands of small business owners over the years, that's the one thing that's in short supply. Every time you turn around, somebody wants money for something.

A little tip – when hiring a company for certain services, ask if they offer payment plans. Any service company that caters to the small business owner should understand the financial burden starting a business entails & well, it never hurts to ask. TradeMark Express started a payment plan option years ago and while it requires a bit more effort in the bookkeeping department, the benefit it provides to our clients is more than worth it.

Business loans are a viable option for many folks and, like anything I talk about here, research this process fully before you embroil yourself into something like this.

To get started, I suggest contacting the
Small Business Administration (SBA). Entrepreneur also offers a great site dedicated to money & finance.

Research, research, research – this cannot be stressed enough. Read as much as you can about the process. Here are some book titles that are relevant:

How to Get a Small Business Loan: A Banker Shows You Exactly What to Do to Get a Loan (Small Business Series, No 1) by Bryan E. Milling
* The SBA Loan Book: Get A Small Business Loan--even With Poor Credit, Weak Collateral, And No Experience by Charles H. Green
Secrets Lenders Never Told You: Get Your Business Loan Approved by Patricia H. Wesson

There are plenty of free informational resources out there:

Get Yourself Started with Small Business Loans by Tim Kelly
Small Business Lenders by Matt Bacak
Small Business Loans for Small Business Owners by David Gass
Small Business Loan Basics by Joseph Kenny

TradeMark Express Blog Schedule

A VIS (Very Important Step) for your New Business

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