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Continue reading →: Small Business Bank Accounts With Branch Access and Digital ToolsI’ve owned and helped build small businesses in different industries and states, from pet insurance and online marketplaces to consumer products. Those businesses have had different needs. A company that sells physical products moves money differently from an online business with no inventory. That is how I think about small…
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Continue reading →: Negative Cash Conversion Cycle: How Suppliers Can Finance Your GrowthCloud Water Filters is my fist experience as a hardware founder. My past businesses were in InsureTech and services and I’ve learned that the cash flow for hardware is far different. In fact, some fellow entrepreneurs say hardware is “hard” because it’s capital intensive. Said another way, we need cash…
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Continue reading →: Startup Funding: Equity, Debt, and How to ChooseIf you’re starting a business, you’re going to need money. And depending on what type of business you’re starting you might need a little to get off the ground, or you might need a lot. I’ve started businesses with $50k and I’ve launched businesses that cost eight figures of investment…
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Continue reading →: Affiliate Marketing for Small BusinessesAffiliate marketing lets you earn money by recommending another company’s products. It also lets you pay partners to bring customers to your business. In both cases, the commission depends on a tracked sale, lead, or other agreed action. For an owner who already shares useful tools with customers, becoming an…
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Continue reading →: Influencer Marketing for Small BusinessesAnybody can be an influencer these days, but only so many have a real following. In other words, you can call yourself an influencer, but if you don’t have followers who will do what you say, you’re a pretender. And if you’re a business owner trying to sell a product…
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Continue reading →: M&A Fees: What It Costs to Buy or Sell a BusinessIf you’re looking to sell or buy your small business, a great banker is worth their weight in gold. A good investment banker will help you get your business organized, identify potentially interested parties and drive a process to maximized bidding competition and ultimately get the best price possible. In…
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Continue reading →: Minimum Efficient Scale for Small Business OwnersMinimum efficient scale is the smallest level of output where a business reaches its lowest long-run cost per unit. In plain English, it is the point where getting bigger stops making each job or product cheaper. That helps answer a question every owner faces: How big does this business need…
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Continue reading →: Why Owners Use a Separate LLC for Business PropertySmall business owners often use a separate LLC for business property to keep the building apart from daily operations. One company runs the business. The other owns the real estate and rents it to the business. This can help manage risk and make it easier to sell the business while…