SteveBizBlog

Successful Business – Buy Four Green Houses Before You Buy a Red Hotel

Before Starting a Small Business / Tacit Knowledge, Bank Loan, Banks, Start Slow, Personas

Robert Kiyosaki, the author of “Rich Dad Poor Dad”, discussed the value the game Monopoly had in his education when he wrote that “You buy four green houses and trade them in for a red hotel.” The message here is that to have a successful business you don’t buy the red hotel right out of the gate. You build up your tacit business knowledge so that when you can afford the red hotel you are more likely to be successful.

Successful Business – Buy Four Green Houses Before You Buy a Red Hotel Read More »

Creating a CAD drawing to license your idea

How to License Your New Product Idea

Before Starting a Small Business / Intellectual Property, Licensing Intellectual Property, Bank Loan, New Product or Invention, Manufacturing

For most inventors with a new product idea, they are far better to license their idea to a manufacturer than to raise the capital to manufacture and distribute the product themselves.

How to License Your New Product Idea Read More »

What You Need To Know About The Role Of The SBA

Debt Funding (Loans) / Bank Loan, Banks, Government, Loans

The Small Business Administration (SBA) does not lend money, it simply acts as insurance for lenders, such as banks, with 3 loan programs

What You Need To Know About The Role Of The SBA Read More »

Video: What You Need To Know About Your Funding Options

Debt Funding (Loans), Equity Funding (Ownership/Stock) / Bank Loan, Debt Financing, Equity Financing

Enjoy the following excerpt from my FREE What You Need to Know About Starting a Business course where I talk about two common small business funding options for small businesses. We will discuss what I call the debt continuum, how lenders control risk and reward, and the value proposition for equity financing investors you can use to convince investors to fund your business.

Video: What You Need To Know About Your Funding Options Read More »

The 5 “C’s” of Credit

Debt Funding (Loans) / Bank Loan, Banks, Angel Investor, Credit, Debt Financing, Funding, Loans, 5 "C" of Credit

When a business approaches a lending institution about debt financing, the lender conducts an evaluation of the borrower using a method known as the 5 C’s of Credit

The 5 “C’s” of Credit Read More »

Key Partnerships - Business Model Canvas

Key Partners and Your Business Model

Small Business Operations / Bank Loan, Banks, Boomers, Business Model Canvas, Key Activities, Key Partner, Key Resources

When considering key partners, you must consider the following questions:
– Who are your key partners and who are your suppliers?
– Which key resources are you acquiring from key partners and suppliers?
– What key activities do your key partners and suppliers perform?

Key Partners and Your Business Model Read More »

Skid Steer Loader - Operating Leverage Example

Operating Leverage for Small Business: When You Should Use

Small Business Finances / Leverage, Investment, Bank Loan, Banks, Operating Leverage, Angel Investor, Debt Financing, Money

What is operating leverage and why should you care? Ignoring the financial mumbo-jumbo, operating leverage represents how having debt can affect a company’s bottom line profit. In some cases, Operating leverage can improve a company’s profits and in others, it can destroy it.

Operating Leverage for Small Business: When You Should Use Read More »

What You Need To Know About The Debt Continuum

Debt Funding (Loans) / Bank Loan, Banks, Credit, Debt Financing, Funding, Loans

Within the world of debt financing, there is a continuum, as different lenders have different appetites for risk and reward.

What You Need To Know About The Debt Continuum Read More »

So Why Does a Franchise Cost So Much Anyway?

Debt Funding (Loans), Before Starting a Small Business / Sales Calls, Business Consultant, Guest Posts, Niche, Franchise, Bank Loan, Banks, Advertising, Business License

A franchise investment isn’t as high as most people think, especially when you put the investment cost into context and compare it with starting a business from scratch. There are eight factors that determine a franchise’s investment costs.

So Why Does a Franchise Cost So Much Anyway? Read More »

What You Think You Know about Credit Is Just Wrong

Debt Funding (Loans) / Banks, Credit, Loans, Leverage, Bank Loan

There is a huge difference between consumer credit and business credit. Consumer credit funds consumptions while business credit is known as “leverage” and is applied to the purchase of an income-producing asset. As individuals, consumer credit is generally a method we use to obtain what we desire sooner than if we were forced to save

What You Think You Know about Credit Is Just Wrong Read More »