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The truth about Asset Based Financing for Small Business

Business owners should not do math in their head.   Here is an example of dialogue regarding asset-based financing rates: Lender: “Your rate could be 2%/mo.” The business owner: “That’s 24%! My profit margin is only 20%! I would lose money by borrowing!”   Unfortunately, this knee-jerk reaction blinds them from understanding how it ACTUALLY […]

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Three Things Every Entrepreneur Should Know before Starting a Business

Sometimes, entrepreneurs come up with a ‘game-changing’ business idea that will revolutionize the current industry. Other times, they are trying to improve on a current idea, by adding their own expertise. One characteristic that seems to overlap many start-ups is that the focus is on the idea or the product, with less emphasis on the […]

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Key service personnel for your start-up business

Congratulations on your start-up business!  You own your company, and you have exciting times ahead.  You are obviously confident of your product or service that you are selling to your customers, and I applaud your decision to go out on your own.  As a three-time business owner, I would offer this advice: there are key […]

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Ownership Succession within the Family

On March 28, 2011 there was an article in Yahoo! Finance titled, ‘Why I Fired My Father From the Family Business’ by Mitchell Kaneff. In this article, the author describes starting at the family company when he was fifteen, and after working there for seven years after college, his father made him president. However, as […]

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