Tag : working capital

Lead Management Fundamentals: How to close more leads? Part 1

“I’ll never buy another lead again,” so says a disgruntled sales person after failing to close quickly a lead he bought from a third party company.    Being in the lead business, I hear this all the time.  Rarely do you hear, “I’ll never advertise again.” Yet, in many cases 99% of the people who see your ad won’t buy your product or your service.   (Advertising serves other purposes like branding, but for most small businesses, advertising is to produce sales.) 

I once did a consulting job for a company that sold uniforms to Fire and Police depts ...

The Mount Everest of Google Ranking is Gone Forever

If your company is spending alot of money on SEO, stop.  It's a waste.  You might as well send that money to Timbuktu.    It's just going down a black whole.  Sean Murray of the Daily Funder wrote an excellent article about one MCA company that finally reached the Keyword summit for merchant cash advance.  Like those that scale Mount Everest, this company didn't stay there too long.  The new release of Google's Penguin 2.1 this past week knocked them from their perch to page 7.  All the way down the SEO Mountain.  Ouch!  (You can ...

3 Things You Need to Know for Your Small Business

3 Things You Need to Know for Your Small Business

Focus on Your Business to Stay Optimistic - Stop the distractions.  If you keep your mind on your business, you will find solutions for your problems. 

The Rise of Social Media as a Career - Social media is not for teenie boppers.  It's real and it's here to stay.  

The Price of Success is Hard Work - Enough said. 

3 Things You Need to Know for Your Small Business Today

3 Things You Need to Know for Your Small Business Today

Q1 GDP numbers are artificially inflated.   

The government inflates GDP and deflates unemployment.  They must have hired former Soviet Bloc economists.  Most people just don't believe the numbers coming out of D.C.  Small Business owners are shaking their heads around the country because they aren't seeing the sales traffic and they are certainly aren't doing the hiring.

Capital acquisition, the fancy term for getting funding is hard these days.  Why not tap into your future retirement funds?  If your business takes off, well, you don't need to worry.  If not ...

Why Every Small Business needs an Alternative Funding Action Plan?

Why Every Small Business needs an Alternative Funding Action Plan?

Why do you need an alternative funding action plan for your small business?  Credit is tight on main street.   Those too big to fail banks and corporations are swimming in cash.  Most of the money is held with a stronger grip than scrooge or is stashed away offshore to avoid the punitive 39% corporate tax, the highest in the world.   What is a small business to do when it needs working capital?   

Blindbid always advises to start with your bank.   Even if you don’t need money right now, pretend that you do.  The economic  situation will not change much ...

Equity Based Crowdfunding is Here

Equity Based Crowdfunding is Here

If here is the Netherlands.  A Dutch company, Symbid, has launched its equity crowdfunding site and its pretty cool.  It allows people to invest in companies from all over the world although most of the companies looking for investment are European.  

So where are the Americans?  We’re mired in SEC squabbles and disorganization.  There have been three heads of the SEC in the past year, Mary Shapiro, Elisse Walter, and Mary Jo White.  

 The Feds passed the Jobs Act last spring.  The SEC will not meet its deadline to release the crowdfunding regulations.   They are now saying Summer 2013 ...

Top Three Ways to Get Funding

This is Dana Barrett with, where we help small merchants get a better deal.  Today, I’m going discuss the top 3 ways to get funding for your business. 

The first is the most traditional, a bank loan.  Bank loans are the least expensive option, but also the hardest to get.  Most loans require some sort of collateral, unless you opt for a line of credit.  But many small businesses have seen their lines of credit slashed or pulled.   And if you have a bad credit score, most banks are refusing to lend money.  

Credit cards have been ...

Merchant Cash Advance: Part 4

Part 4 – Merchant Cash Advance How to Find Reputable Companies and Avoid Pitfalls

In parts one and two and three, I talked about what a merchant cash advance is, what the qualifications are, and  how it works.     In this segment, I will cover how to find a reputable cash advance company, and what pitfalls to avoid.

If you want to find a reputable merchant cash advance company there are several ways to do it.   I highly suggest that you get multiple quotes.  There are several reasons for this. The two most important reasons are you want to find a provider ...

Merchant Cash Advance: Part 3

Part 3 – Merchant Cash Advance How It Works

In parts one and two, I talked about what a merchant cash advance is and the qualifications.   In this segment, I will cover the cash advance payback, the payback period, the factor, the factor fee, and the daily retrieval rate.

So, your business has been approved for a cash advance.  In most cases, you will receive up to 100% of your monthly credit card processing volume or your monthly sales volume.  The total amount will vary from provider to provider.  The standard is 100% of your monthly credit card processing volume. So ...

Merchant Cash Advance: Part 2

Part 2 – Merchant Cash Advance Qualifications 

In part one, I talked about what a merchant cash advance is.  In this segment, I will cover the merchant cash advance qualifications.

A cash advance provider will look at your monthly sales volume and your monthly credit card processing volume to determine maximum advance amount.  Typically, the advance amount is equal to your monthly credit card volume and sometimes your monthly sales volume.  The providers use your credit card volume as proof of sales.  You can submit bank statements if you want to go the ACH route or if you want a bigger ...

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