Money & Finance

Post image for Extending Credit to Customers

More naches and brag–this time on the issue of extending credit to customers. See Melanie Lindner’s piece in Forbes.com on “How Much Credit do Customers Deserve?” She and I talked about the changing economic climate (euphemism) and whether it made sense for businesses to extend credit to customers. Whenever you extend credit (which occurs any […]

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From the Department of Business Partnership Nightmares comes this plea for help from LordMJ: Here’s the skinny: Partner 1 and Partner 2 met in corporate America and started a venture together when both had full-time jobs Partner 1 left the corporate job and entered grad school, ostensibly to help the business (and supposedly by mutual […]

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Post image for Paying Back Private Investors

Any time you accept money from someone else to help your business grow, you should put that relationship in writing. Many a lawsuit has been brought because of misunderstandings about (1) how much would be provided, (2) when the money would be provided, (3) whether there were benchmarks that needed to be achieved in order […]

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Maybe you’ve only just started your business or are not ready to sell it just yet. But don’t you ever wonder how much you could get if you cashed out – or let someone else buy in? Could you afford that beachfront property in Hawaii you’ve been fantasizing about? Take those international trips you have […]

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Post image for Preparing for Financial Salvation

Find an angel investor that’s a divine match for your business. Angels are often defined as “spiritual beings.” To the entrepreneur seeking a sizable cash infusion, angel investors might well seem heaven-sent. In addition to money, they typically offer value-added benefits such as expertise, experience, mentorship, creative ideas and contacts. But they are not necessarily […]

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Post image for Is It OK to Take from Your Own Company Till?

Here’s a scenario for you: You’re the sole owner of a corporation and have no employees. Every once in a while you find yourself a bit short, so you let the company pay for some of your personal expenses, such as dry cleaning, spa treatments and house cleaning services. You’re not depriving a business partner […]

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Post image for A Battle Over Venture Capital for Small Businesses

It’s never easy being a small business.  It’s hard enough to qualify for venture capital funding . . . and yet receiving it could disqualify you from other small business incentives through the Small Business Administration and other government programs.  It’s a “damned-if-you-do-damned-if-you-don’t” conundrum. According to a recent report in the New York Times, Jason […]

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Post image for Billions in Federal Procurement Dollars Could Open to Small Business

Billions of dollars in small federal contracts could be opened to small businesses if the Small Business Administration (SBA) prevails in a dispute with the General Services Administration (GSA). According to a report on Associated Content, the SBA has ruled that, under the Small Business Act, the GSA needs to set aside contracts valued between […]

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Not all business partners are actively involved in a company’s day-to-day operations.  Call them “passive investors,” “angel investors,” or “financial partners,” it all comes down to money and wanting a return on the investment.  As an example, Sequoia Capital, which provides capital and investment opportunities, has a checklist/outline on its site of what it likes to […]

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Here’s a nightmare for you.  You and your partner signed a partnership agreement, began your business, built it, and were on the verge of seeing it really take off when the unthinkable happened:  your partner was hit by a drunk driver while crossing the street on the way to work and killed.  Not only do […]

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