The Obstacles Home Business Owners Face When They Start A Home Business

If you have made up your mind and you are 100% certain about starting a home business, then you might have in mind what product or service you want to market. You should also know that for the first two years you will be devoted to making your business grow. If you are willing to take a huge risk such as this, you will need to be motivated, determined and confident. There are numerous obstacles that you could run into if you don’t take the necessary precautions.

To work your way through the start-up of your business you will need to take the following steps

SWOT analysis (Strengths, Weaknesses, Opportunities and Threats). By knowing and using this method, you will be aware of what competition you are facing, where your business can grow, and you will get a better understanding of the business market.

Form a business plan. Forming a business plan can be overwhelming and slightly confusing. A business plan should include the audience that will be looking at your plan, an outline of the business plan, a collection of research and data, a general abstract of the market, an inquiry profile, finances, and finally the executive summary.
Funds for the business startup. Do you have the resources needed to start the business or do you need to find the money or money lender?

Naming your business. What will be the name of your business? This is a crucial and significantly important element.

Electing your business structure. Sometimes people get confused due to the business types. You will need to elect the right business partners. The choice you make will cause an impact on your business.

The license and permit. This entails registering your business, you might also need a business identification number, and may also include other tax licenses and zoning permits.

The location. This step also entails many minor tasks such as finding the right location for your business, buying office supplies and equipment and designing your business place.

The insurance. You are responsible for any risks associated to your business. Getting a business insurance will protect your office of any disasters or litigations that could occur.

Lastly, create an accounting system. Many individuals that want to start their own business tend to fail because they get caught up with location and buying supplies and other details that they forget to keep an account of money going in and out. A good option would be to hire a professional accountant that will keep track of the businesses finances.

Cracking The End Game Code for Business Owners: Handling Myths About Sales & Marketing and Structure

When you have business owners who spent a lot of time in their business working really hard, they don’t necessarily want to stay running around in their businesses any more. They typically want to automate and have systems and processes. Sure, they may have a C-Suite handling his or her wishes, but most owners don’t necessarily have their officers focus exclusively on automation, systems and processes because that C-suite has their own responsibilities to complete within that business.

Here’s the pressing question: why wouldn’t it make sense for an owner to sit there, craft their vision statement, craft their mission statement and craft their marketing campaigns with the sole intention of “running to their end game”- either selling their business or actually working on their business for once?

There’s thousands of different ways to market, but the truth of the matter is you should market to your strengths, your vision, and what works for you and the message you want to deliver. You must, of course, perform the heavy lifting to discover this reality for yourself, but you have to have a process and a system in place to handle this action.

You should have a due diligence checklist to say, “Every time I want to market, does this particular system I’m looking to execute in my business match my vision statement? Is it congruent with my mission statement?

As an example, I’m a writer. That’s what I’m great at. And because I’m great at writing, I simply write lots of articles. I can publish that one article and post that same message across 12 platforms with the push of a single button. I’m also great at automating systems. I know how to put systems together. I know how to put the structure of things in marketing and sales together so that things won’t fall apart. You don’t want your sales and marketing processes having holes in them, especially if you’re trying to scale up your business.

You don’t want to all of a sudden get an influx of business and your business falls apart because you can’t handle the volume. That’s what a lot of people don’t look at, especially if they’re trying to get out of their business because they’re like, “You know what? I’d rather wing it or try to figure it out.” Then their business collapses into ruin because they didn’t have a mentor supporting them.

A good example of this is solopreneurs. One of my friends is actually the inverse of this, as he has his system tight, there are no holes, and he’s extremely happy and successful in his practice.

He’s good. He’s only got 2 marketing systems. Systems that can handle high volume that he can single-handedly manage and turn those switches on and off, as needed. He’s care free, has no employees and an amazing quality of life. He’s already discovered that he doesn’t like to manage people- he doesn’t want to do that. Even if we were to put a system together for him to scale out his practice, he kept asking me, “Fred, will you manage the system?” I said, “No, I’m not going to manage the system.” I said, “I’d rather do a joint venture. I have systems that will manage the system, but if you’re talking about being in the day-to-day human element of the business, because it’s more brick and mortar, then I’m not that guy.”

I said, “I take the leadership role in anything that I do because my passion is serving other people and effectively seeing what they want to do in their businesses, with their teams, and how they want to get there. In order to be able to give them exactly what they need to perform I just can’t be held down to one business.”

As far as scaling his business out any further, he’s just like, “You know what? I’m okay, Fred. Unless you can really tell me why I should venture out any further, then I’m fine.” We were talking casually anyway, as scaling out his business wasn’t a pressing thought, or pain. The bottom line is he has choice, and he can choose whether or not he wants to duplicate his efforts. In relations to his vision and mission statement, he’s at his end game and is living the life of his dreams. That’s what it’s all about.

Most people don’t look at it that way. They just look at their business and say, “I’ve got a business. I want to make money, and that’s it.” The truth of the matter is it doesn’t really work like that. You have to lay the foundation instead of just winging it. The process doesn’t have to be perfect, as good enough is good enough.

Some business owners got lucky because they found a starving niche, but most business owners failed because they were winging it. They didn’t have structure. Even for the ones who are winging it, they’re trying to keep it all together because all of a sudden your name gets out there in the marketplace and you don’t have a repeatable way to manage your success. Now you don’t have a way to handle the volume, so you get scared.

It’s just like playing poker. You’ve got that scared money on the table that you don’t want to sitting there, hoping you don’t lose. That money on the table may be your rent, your mortgage, your whatever. And in poker, money on the table is money played. You can’t reach back in there and take it off the table. Once that money is in the pot, that’s it, you’re done, you’re beat. Most people don’t look at business like that. They’re running around here playing with scared money, but yet they need to grow their business. They got to figure out which one they need to do- run a business, or run scared. That’s the reason why automation is so important; to handle your weaknesses while you focus on your strengths and high-payout activities.

It doesn’t matter really what kind of product or service you have. The key is when you offer your product, when you get that one customer in the door, are you able to efficiently handle them from your marketing all the way down to the fulfillment, to the follow up? That’s it. Anything else other in between that is just conjecture, it doesn’t make any sense to exclusively focus on anything else except steering the ship and hiring able people, or having strong processes and systems in place.

And when I’m talking to some of these business owners, I hear the exact same thing. Whether it’s an employee, spouse, CFO, client- whatever- the communication that you, the business owner, is putting out is so important. You are the capstone of your business and what you say carries more weight than you know- it influences the direction, system and processes of your business.

An extremely simplified example of this concept is some practitioners, self-employed or solopreneurs attend networking events and mixers because when I hear them speaking directly to me, I’m like, “What are you telling me? What do you do? Really? I don’t understand.” Their communication is not clear enough for me to want to pursue further communication for me to say to myself; I need to talk to you, or I don’t need to talk to you, either I need to give you my business card, or I don’t need to give you my business card. So they haven’t made the initial sale, on behalf of their company they represent. The sale? They were selling me on their idea. Bottom line; business structure, systems, employees and processes are meaningless without an effective message via marketing and sales.

Getting to the end game is really that basic, but most people don’t see it like that because they’re caught up in their own game. They’re the picture in the frame versus actively engaging in, and having a proven and repeatable process. To me that’s the most important part. Just getting business owners either on a track, or back on track so they can win is the ultimate end game.

Fred Smith builds results-based businesses with his clients and applies this technology in the marketplace by using military-grade business and performance development solutions.

He is the creator of The Synergy Triangle which is an integration of leadership, marketing and selling methods in your company’s workflow that increases gross profit and speeds up your sales cycle while minimizing the risk of poor customer service and delivery of goods or services.

Starting from humble inner-city beginnings, Fred began his business career as a telemarketer and door-to-door direct salesperson. He eventually rose from poverty to become one of the nation’s leading and sought-after business building consultants in the automotive industry.

He has combined insights learned from his 20-plus years of military, retail, multinational, and corporate business building successes and mistakes with observations from the worlds of leadership, business building, sales and marketing. The result is a revealing study of real-world results as only a communicator like Fred can simplify.

What It Takes to Create an Award-Winning Business

14 Strategies We Attribute to Our Recent Business Excellence Award

Out of the blue, I received an email from the Abbotsford Chamber of Commerce one day notifying me that we were nominated for a 2016 Business Excellence award.

Say what?

Once I got past my shock and disbelief that they must have the wrong Susan… it began to sink in that someone out there thought we were worthy enough of this nomination. Wow, what an honour!

Part of the nomination process consisted of a 30-minute interview in front of a 3-judge panel. Imagine being forced to actually brag about yourself for a half an hour! Talk about squirming in my seat!

Fast forward to last week where the awards ceremony took place. Much to my relief, our category was up first so I could relax the rest of the evening.

To be honest, I wasn’t all that anxious – I knew the odds of winning was only 1 in 7 so I waited patiently for the winner’s name to be announced, not at all expecting it to be us.

But it was! We were declared the winner!

Say WHAT???

Shock and disbelief once again came over me as I took a moment to grasp what just happened. Walking to the stage was quite the blur but I managed to do it without tripping up the stairs to get our award.

In the aftermath of winning this wonderful recognition, I reflected some more about that judge’s interview and how they deemed us the winner from the other worthy nominees in our category.

With that in mind, I wanted to share some of the attributes I feel helped us win this prestigious award. Without further ado, here’s what it took for me to create an award-winning business:

1) Be Passionate About What You Do

We are not the first business I’ve created; there’s been plenty others ranging from creating craft pieces to faux finish painting. But no matter what I did, I was very passionate about it.

Don’t waste your time trying to run a business just to make money. You’re going to tire of it very quickly and it will be harder to make sales.

But when you’re passionate about what you do, others will immediately see that and will be drawn to you like a magnet.

2) Love Working With the People You Serve and Offer Exceptional Customer Service

One of the truest joys I receive is the knowing how much we are able to help a new business owner get their online presence up and running. Being a part of their joy at seeing their dream materialize into something tangible gives me just as much joy.

If you avoid answering the phone or responding to emails because you dread having to talk to a client, then you need to adjust your marketing so you attract the right people to work with.

If you don’t love who you’re working with, then it’s hard to establish a successful business that needs to cater to your clients by making customer service a #1 priority. And that means answering the phone, responding to emails in a prompt manner, and treating every person as if they were your only client. And when you’re attracting your perfect ideal client, then this should be easy to do.

Make your business about them, not you. Just remember, if you had no clients, then you’d have no business.

3) Know Your Stuff

Before even thinking about starting a web development/digital marketing business, I ensured I got the education I needed first. I attended the Vancouver Film School in their Multi-Media program and then later earned a Bachelor of Business Administration degree with a concentration in Computer Information Systems (with an A+ GPA).

Not to mention the countless online courses I’ve taken over the years to ensure my skills are kept up-to-date with this ever changing industry.

Sadly, I see a lot of entrepreneurs wanting to start a business with not a lot of skills or experience under their belt and then they wonder why they’re struggling.

Reading a book or taking one on-line course is probably not enough to reach award-winning status. But if you’re passionate about building a successful business, you’ll find a way to ensure you become as qualified as needed.

4) Be Committed

Is working 15 hour days, 6-7 days a week committed enough? Yep, that’s what Daniel and I do every week. We have to in order to fulfil points 2 and 3 above.

It takes a lot of time and effort to ensure your clients are taken care of properly. You also need a “do whatever it takes” level of commitment.

You might not need to work such long hours as us and trust me, we’re continually working towards lessening that kind of volume but until then, we are willing to do whatever it takes to ensure our business is successful. Are you?

5) Be Consistent

Consistency shows up in many forms when running a successful business. For me, it’s being consistent with my message, my brand, my Social Media presence, my newsletters, my team management, and the level of quality we bring to our clients.

Do I miss sometimes? Absolutely. But being consistent in these areas are very important to me, and I do what needs to be done in order to show up the best I can for my team and our clients.

Without consistency, it’s hard to create brand ambassadors (such as the ones who nominate you for an award), loyal team members, and a steady flow of clients.

Whatever you have decided to commit to, be consistent at it and you’ll be amazed at how things start to flow your way.

6) Surround Yourself With a Dedicated and Knowledgeable Team

I started off as a one-woman show. Because of my educational background, I was able to do the design, build and marketing of a website quite easily. I’m what you would call a “generalist”, someone who knows a lot of about a lot of things and is a specialist in a few areas.

But my one-woman show was not going to create a successful business. Especially in this technologically-driven industry. It quickly became apparent my skillset was only going to get me so far.

So my first hire was someone who could offset my biggest weakness. Warren was a student at UFV and applied for my part time programmer position. He was a perfect complement to our company and the moment he came on board, I was relieved of having to do all the site builds myself. I could then take that time and focus on building the business instead.

It’s tough to try and do everything yourself when it comes to running a business. Sure, there are expenses involved in hiring but if you hire smart, keep an eye on your bottom line, and know when to let go of those that aren’t serving you best, your business will escalate far quicker than if you try to struggle with everything yourself.

This topic is worthy of a whole article itself so I encourage you to read How to Take a Solo-Entrepreneurship to the Next Level for more.

7) Have Honesty, Authenticity and Gratitude be a Part of Your Daily Life

It’s sad I even need to list this as an attribute but I’ve been in business long enough to know not everyone adheres to these principles.

To me, this is a no-brainer – I’m not certain I could live any other way?

But judging from the stories I hear from new clients about how they were treated by their previous web developer, it sounds like many people need to be reminded of this.

No business will thrive without honesty and integrity. And a little secret: gratitude will not only make your business thrive, but your whole life too. Give it a try and see what I mean.

8) Persevere

Every business, including ours, has its ups and downs. The key to success is to not let those “downs” overcome your enthusiasm. Pick yourself back up, learn from whatever lesson there was to be learned, and keep moving forward.

If we had quit when we only had $20 credit left on our credit cards at Christmas time just a handful of years ago, we wouldn’t be award winners now!

9) Invest in Your Business

Building the company has been one investment after another. It never ends really.

There’s always something that needs to be worked on. Here’s a short list of my recommendations on where you need to invest in your business:

a.Branding & Website

b.Marketing

c.Education

d.Building a Team

10) Understand You’re Running a Business, Not a Hobby.

I think this is an important distinction to make and one many entrepreneurs aren’t differentiating.

I’ve always looked at our company as a business and that’s mostly due to my business mind and having a business degree.

But for those that simply are passionate about something and have a dream to make money off of it, it’s hard to know exactly HOW to turn that dream into a business.

They end up blindly doing what they think they should be doing, all by themselves, in order to save money (or not spend money they don’t have) and hope for the best.

If this sounds familiar, I’m adding another business investment to consider as your top priority: A business coach or mentor. ASAP. Otherwise, you’ll probably end up just running a hobby.

11) Set up a Systemized Business Structure

I’ve worked with a lot of clients over the years. Some amaze me at how organized and systemized they are. And others, well, not so much.

Having a systemized business structure in place is the only reason I haven’t gone insane with my daily workload.

Here’s the tools we use to be more organized, efficient and less stressed.

12) Get Comfortable With Sales

Sales. It’s a dirty word for many entrepreneurs and business owners alike. Me too. I hate to think of myself as a “sales person” but at the end of the day, if we’re not selling our wares, we don’t have a business.

Now that’s not to say you need to become a pushy, in-your-face predator. Far from it.

Remember attribute #1 about being passionate? That’s what you need. People will trust your passion and will respond to it. But be careful, sometimes passion can be too intense and will turn people away.

Find your sweet spot as to what resonates with your ideal clients and keep working at it. But do embrace the fact you’re selling your wares and learn some strategies that fit with your personality and comfort level that will work.

13) Give Back

Giving back is an imperative attribute to have when building a successful business. We give back in several ways, here’s some ideas to consider that we do:

-Offer discounted prices for non-profits

-Volunteer your services to community groups

-Send cash donations to worthy charities you believe in

-Make purchases that support worthy causes

-Donate door prizes and/or silent auction items for fund raising activities

-And support your own clients whenever you can

14) Be Accessible

When new clients approach me due to being disenchanted with their existing web developer or marketer, the most often complaint I hear is they can never get a hold of the person. Either they take forever to respond to an email or never answer their phone.

I think I’m going to write a book on how NOT to run a successful business based on this alone. It boggles my mind when I consistently hear stories like this. How are these people keeping a business going with such poor service and accessibility?

I have a policy to answer emails within a day of receipt. I often exceed that policy but sometimes the volume is too much and I get delayed in responding. Same thing with the phone. If we’re available to answer, we do so. If we’re not, we’ll call the person back right away.

Being accessible provides peace of mind to our clients; they know we care enough about them to take care of their needs in a timely manner. ’nuff said.

There you have it. My honest take on what created the company to be an award-winning business. Maybe I need to write a book about this because, honestly, I could have added more but, it’s coming into the 15th hour on this Sunday night of working so I’ll leave it at that.

What about you? What would you add to the list? Please leave a comment below, I’d love to hear from you!

Susan Friesen is the founder of eVision Media, a boutique web development and Digital Marketing firm of over 15 years that specializes in designing, building and marketing professional, unique websites for entrepreneurs, businesses and organizations.

Business Owners Are Finding Better Ways To Fund Their Business With Working Capital Cash Flow!

Today’s business financing environment is still not favorable to the business owner in getting approved for small business loans for working capital with no business assets and not much profit. Business working capital funding is a difficult achievement in this present economic condition of our country. As we all know, business short term funding allows business owners to obtain business funding for their business to survive through any financial crunch that comes up for alternative financing. This article will discuss the best tips for getting fast, easy business funding for working capital for critical daily cash flow needed by the business owner.

Nationwide business loans are extremely difficult to get approved for the business owner these days. Credit unions and traditional banks do not offer small business bank statement funding and the number of business loan applications being approved has shortened up further and will continue to do so in the future. Along with the unstable economic conditions, the majority of banks and credit institutions have ceased lending to small businesses altogether. If you are an entrepreneur then it may be really difficult to find out that your small business is simply a number to these banks. If you need business to business quick funding for your small business than you need to step out and take action! This will result in the small business owners reaching out to a lender who offers fast and easy working capital funds which are needed for the owner. Business bank statement funding is valid for any business owner that needs business working capital for daily cash flow! Credit unions and financial institutions have ceased lending money for the small business owner, most of the businesses find it really difficult to get working capital approval. In such situation, business working capital funds provide easy and quick working capital for small businesses as per their requirement. These funds are known for their quick processing, easy payment options and flexible conditions and easy credit requirements.

Working Capital is required and necessary for every small business owner to have operating cash flow for day to day operations. With a small business cash advance, quick short-term funding is what makes sense to continue and stabilize a small business operation. Businesses need funds rapidly for expanding, competing and succeeding in their own business. It’s important that your customer ought to know that you are offering quality services or product without any hesitation due to lack of funds for a project. Small business funding is the most useful and reliable option for your cash flow requirements and requires a pristine personal credit history of your business and the owner and having cash on hand to support the bank loan.

The first impression of your business from your customers should be to compel them to choose your services or products because your company can make fast financial decisions and be the best company out there. Expanding your business with a small business credit card advance for new and bigger equipment that your business could never afford in the past is now doable with confidence that you can receive the funding to buy that equipment. This will in turn give the confidence to your customer that your company will get the job done and you do not have cash flow problems that will interfere with their success. Just think you can buy equipment with a fast working capital funding and payoff the equipment in a short term period and then you own that equipment free and clear once it is paid off. You can keep doing this over and over and build a fleet which you own free and clear. Now you be a small business with assets. This is a way to improve your financial status quickly and to build your small business.

The key rule of a small business is to generate a healthy gross profit and work environment to get maximum output from your employees. Remember that it is not just about your customer who would appreciate clean, state-of-art, professional and ready-to-serve products and or services; but your employees as well. Quick working capital with small business loans funding can provide the capital required for prime quality tools and the overall employee turnover can be reduced along with higher efficiency and morale. Small businesses can get quick working capital funding even with a poor credit history including a bankruptcy or tax lien or judgment.

A promising business with significant amount of bank deposits and stability will get fast bank statement funding inside of 72 hours. The capability of choosing a repayment schedule which is for a short term is an added advantage of these cash advance funding.

Business cash funding has made it simpler to receive fast funds without much hassle even if the small business owner has been turned down by their local bank. However it is important to do proper research about the private lender before applying for these types of short term funds. The internet is the foremost option to identify a reliable and responsible lenders for business cash advances, checking with the BBB for any records that may indicate any complaints filed against the lender. There are many online business cash advance lenders so it can easily be really hard to differentiate reliable ones to an online scam. Also offering the owner too much working capital at one time for that particular small business may actually hurt the repayment of the funding causing a cash flow problem for the business owner. The small business owner must find a lender who will watch out for the bottom line of the business owner.

Working capital cash funds can help your business in a financial crunch and make it easy to handle any future financial troubles. Business bank statement funding is fast and easy business funding that has opened the flood gates for small businesses to get easy working capital funding. With easy repayment options, 100 percent funding approval and quick processing of business cash funding are some of the most important benefit of these small business programs. Over the past few years, small businesses have experienced a global downturn in the economy and funding options have further been cut short for business invoice factoring. A private lender who can provide the small business with working capital can replace the down trend of factoring.

The 8 Questions You Must Ask Before Working With Any Business Credit Building Company

There are few business credit building companies out there, however, those that are out there are taking advantage of the lack of knowledge from the general public regarding business credit and how to get a business loan.

DON’T LET THEM RIP YOU OFF!

I’m going to try to show how to get unlimited capital for your business…

Without risking your personal assets, lowering your personal credit score, or damaging your personal credit history

These 8 Simple Questions will ensure Your Success Building Business Credit when looking for a Small Business Loan

There are simply too many people who hire business credit building companies that are not happy with the results. Before choosing another company, if you ask these 8 questions you will be assured that you will be working with a legitimate company who can help you build business credit and more importantly get the small business loan you seek. Getting that business loan is after all what you’re looking for, isn’t it?

Why is it so important to work with knowledgeable advisor? Why can’t you do it on your own? The Fair Credit Reporting Act does not apply to the business credit bureaus; this means that if you make a mistake, skip a step, try and take a short cut, your business credit file can be “Red Flagged.” This means your company is prohibited from receiving credit and perhaps that elusive business loan.

There is a proven step-by-step process that MUST be followed if you plan on properly building your business credit and getting working capital. If you don’t follow the proven process then you can be put into the “High Risk” category. When that happens, no lending institution will give you a cash advance or small business loan and there is nothing you can do to remove it.

Make sure to choose a honest credit building company that has the knowledge, experience and proven systems to support you, before you decide whom you will work with, make sure to ask them these 8 vital questions.

Question #1

Will I be obtaining only trade credit or CASH credit?

Be careful, there are a number of companies out there that will only help you obtain trade credit. Trade credit can only be used with the individual creditor, and nowhere else. This is great if you need $3000 of paper products, but is useless if you need payroll loans, inventory loans, or simply to cover business expenses or expand your company.

And if it is CASH credit, will I always need to personally guarantee the application?”

If the company says you will always have to personally guarantee all types of credit – then you are NOT receiving the full benefit of business credit. Keep in mind, the solution must introduce you to business funding services that will not require a personal guarantee, however these non traditional lenders will still be checking your personal credit and need your social security number. They do this to stay in banking compliance.

Question #2:

Will a trained coach show me, step by step, how to incorporate my business and build business credit with an eye to getting that merchant loan or business loan?

My guess is that if you wanted to figure out the intricacies of incorporating your business, and building corporate credit on your own… you would have already done so. (I’ve done it. And believe me… this is NOT stuff you want to muddle through on your own.)

So if you won’t be receiving step-by-step instructions supported by a trained credit coach, resulting in a predictable successful outcome, call another company. (I’ll spell out each step for securing business loans without traditional personal guarantees in crystal clear detail in a later article).

Question #3:

If I get stuck while I’m taking all those necessary steps, will I have to pay you hundreds or even thousands to help me figure it out?

Many companies charge low fees up front and continue to tack on heavy, additional charges each time you call or write for help.

Make sure they deliver everything you need to know to secure a bad credit business line of credit or high risk business loans, all without the traditional personal guarantee. Make sure you will have access to a dedicated coaching advisor and who places no limits on how often you can speak with them.

Question #4:

Will you have the ability to set up capital loans, and monitor the development of your business credit score with all major business credit agencies all within your coaching platform?

Why work with an advisor who is trying to blindly lead you!

Question #5:

When companies promise to get you cash credit, ask them this pointed question: “What type of paperwork is required to get cash lines of credit?

Beware of companies that say it is not required to furnish any financial statements, tax returns, business plans, bank statements, etc., to obtain a small business loan without a traditional personal guarantee. When it comes to getting approvals for cash advance without a traditional personal guarantee, you will need to show that your company is financially responsible and you do this by showing it earns revenue, pays its bills on time and has establish good business credit.

If the company tells you that you can obtain this type of financing without providing any real documents, don’t bother working with them, they are not being honest.

Think about it, is a lender really going to give you hundreds of thousand of dollars without a traditional personal guarantee without you having to show them that you are a “safe-risk?” Over time I will show you exactly what you need to do in order to become a safe risk and secure a small business loan.

Question #6:

How are your coaches paid?

This is a really important question! How would you like to work with someone that could care less if you obtain the business loan you desperately need? Think about it!

Question #7:

When it comes time to apply for a business loan, are you going to pass me off from lender to lender?

This is another very important question. Virtually every credit building company will, when it is time to apply for a business loan, pass you off to one lender to apply, and then tell you to go and apply at the next lender and so on. They literally end up sending you on a wild goose chase and just hope that one of the non traditional lenders can obtain capital loans for you. Does this sound like something a real business credit and financing expert would do?

Question #8:

What kind of a guarantee do you offer?”

It’s critical to get the specifics about guarantees. Because most companies that offer guarantees or promise only that your corporation will get a 80+ Paydex score. While this is a start, it’s not good enough –

If after completing your program, you should have:

Corporate Compliance and documentation review

D&B file and a D&B rating

D&B Paydex Score

Business credit file with Corporate Experian with an intelliscore

Business credit file with business Equifax with the appropriate business credit score.

Trade accounts and/or Vendor Accounts with and without a personal guarantee.

A Business Credit that can be used to leverage financing opportunities

This is not, by any means, a comprehensive list of all the questions entrepreneurs should ask when it comes to building corporate credit. But if you address these costly and dangerous errors, you will be on your way to building a safe, secure, and financially sound business-the business you always dreamed of!

Hopefully, these 8 questions will help ensure that you work with a credit building company that will be honest, upfront as well as help you successfully establish your business credit and leverage it into new small business loans and opportunities for your business.