WHERE THE MONEY IS
Have you considered factoring lately. Factoring is the process by which a finance company or bank lends you money against your receivables in exchange for approximately 20% of the receivables plus fees. If this sounds steep, it can be. But, factoring can be a viable option if you need money immediately to fill a large order or buy a large amount of equipment. Factoring used to be just a high-cost transactional business, but today's factors provide not only access to much needed capital, but also access to their business contacts and other clients and resources.

Other things you should know about factors generally check the credit of both your business and those with whom you do business to ensure that both of you usually pay your bills and that you will be able to pay forthcoming bills. Factors also review your business financial records, and may want to see your business plan or even your location. Once the factor is satisfied with ability to meet your obligations, s/he will arrange for invoices to come to his/her firm, then s/he will advance you the value of the invoice, less 20% and fees. Then, s/he will collect his/her money once your customer pays the invoice. Some factors may hold back an additional percentage from some invoices.

Biggest Myth About Starting A Business!

There is FREE money from the government in the form of grants for anyone starting a new business.

The Truth
The government provides business loans through the Small Business Association (See www.sba.gov).
The government provides opportunities to do business with branches of government (Register at ccr.gov).
The government awards contracts and grants for research and other services (see grants.gov)

A MUST-READ FOR ENTREPRENEURS AND SMALL BUSINESS OWNERS

I just finished one of the most interesting and useful books I've read in a long time! The book is called Alpha Dogs by Donna Fenn. The book profiles several small business owners from different industries across the country. The business owners included the owners of Dorothy Lane Grocery, Harley Davidson franchises, an online auction house and a local bike shop. Fenn visited the businesses to find out about their management practices, customer service approaches, employee training and retention programs and business operations and strategy. Fenn finds that though the business owners and their businesses are very different, they share common traits, practices and focuses. For instance, all of the profiled business owners were focused on providing exceptional customer service and rich employee development programs to woo customers from larger competitors and to attract and retain the best employees. Each of the business owners took calculated risks by making changes in the way they marketed or operated their businesses, resulting in fiercely loyal customers willing to pay a premium for the business' products or services.

The book is a great read, and brief to boot (only 100 or so pages).