More Startup Lessons from My Daughter’s Lemonade Stand

A couple of summers ago, my daughter launched a lemonade stand “startup.” I wrote about some of the business lessons from her lemonade stand venture in a previous post. Apparently, she liked the concept of earning more money for the summer. More importantly, she later told me that she liked our rule that “if she earned it, […]

How Much Money Should Your Business Keep in Reserve?

One of the most important things that long-standing, successful businesses have in common is a cash reserve. A cash reserve can help you pay employees and suppliers during hard times. It can help keep things moving if clients start paying slowly. It can help your business take on new growth opportunities. And it helps your business […]

Invoice Factoring for Startups and Small Businesses

Getting the right type of financing is critical for the success of any startup or small business. Making the right choice is important because the future of your company depends on it. Unfortunately, small business owners often have little time to research all their alternatives properly. They are forced to make a decision quickly. I can help you with […]

Best Ways to Prepare Your Business for a Recession

As the saying goes in lending circles, the best time to borrow money is when you don’t need it – when things are going well. There is an element of truth to this adage. The same goes for business planning. The best time to prepare for a recession is when things are going well. This strategy allows […]

How I Found my First Customers and Grew my Company

About ten years ago, I launched my company and was full of hope it would grow quickly. Like many founders, I had carefully planned everything – to the dot. I had the spreadsheets and the business models to prove it! As a cautious person, I launched the company in stealth mode while I was still working at […]

Are Merchant Cash Advances Good for Startups?

Merchant cash advances (MCAs) have been gaining popularity in recent years as a short-term business financing tool. Also known as cash advances or ACH loans, MCAs promise to provide easy access to funding for entrepreneurs who need it. While getting an MCA is easier than getting any other type of funding, this ease comes at a cost. Literally. […]

Follow the Money (And Not Your Passion)

Probably one of the most over-used pieces of advice is the adage “follow your passion.” Students hear it at graduation speeches every year. Startup founders and entrepreneurs hear it from business luminaries – time and time again. This well-worn mantra sounds good. Like most people, I heard it when I graduated from college. I liked it…but is it […]

The Facts About Startup Business Lines of Credit

Lines of credit are one of the most misunderstood subjects among startup founders and entrepreneurs. It’s not their fault. Most of the information out there is too generic to be actually useful. And, in some cases, it’s even outright inaccurate. So here’s a primer on startup lines of credit. You are going to learn: How they […]

Six Government Contract Financing Options

Becoming a government contractor has a number of advantages, especially for small businesses. Government agencies buy most types of products and services year-round, they pay on time, and can be great customers. Actually, the government gives small businesses incentives to work with them. There are a number of programs designed to help small companies win more government business. […]

Why Your Small Business Should Sell to the US Government

One of the most overlooked business opportunities for small business owners is selling to government agencies. It’s easy to see why it can be overlooked by some. For many, the process seems tedious and complex. And there is often a lot of competition by larger, better-funded, and more experienced companies. So, why bother? Actually, the government […]