Financing And Having Your Own Small Business

Financing a small business does not have to be complicated, as
there are a number of resources that can help you along the
way, as well as numerous financial and government institutions
that cater to those wishing to finance a small business.

 

In terms of financing there are several things that need to be
examined; do you need working capital or can you use existing
cash flow for the small business? How urgent is your need for
financing and what are your risks? What will the capital be
used for and what industry does the small business operate
under? There are an exhaustive amount of questions that need to
be answered when it comes to financing a small business.

 

Realize that there are two different types of financing; equity
financing and debt financing. Equity financing is looked at as
the amount of equity to debt ratio that you have in the
business. The biggest resource of equity financing comes from
venture capitalists. A venture capitalist is generally a
financial wizard with a lot of money to invest. They prefer to
invest in businesses that are 3 to 5 years old that look
promising and are able to offer a big return on the initial
investment.

 

Debt financing can be obtained through banks, credit unions,
lending companies and other financial institutions that offer
services to small business owners.

 

The government, both on the federal and local level, also has
numerous programs in place to assist people in securing
financing for small business.

 

One of the most common places to look for financing
opportunities is with the United States Small Business
Administration. This entity has a number of programs in place,
including special financing programs for women, veterans and
Native Americans who wish to secure funds for a small business.
The U.S. Small Business Administration has a comprehensive
website that explains in detail all of their available
financing programs.

 

Another source of funds for small businesses come in the form
of grants. A grant is an award of money that does not have to
be repaid. Many times, grants come with stipulations on how the
funds can be used, but there do exist many grants that are
available for the sole purpose of starting up a small business.

 

rants are available from a number of sources including the
federal government, private organizations and individuals, and
local initiatives that may be offered in your local area. Some
of the different entities that award grants include the Small
Business Administration, the Department of Veterans Affairs,
and the National Science Foundation, just to name a few.

 

If you are just starting up your business and have already
invested a significant amount of your personal funds, you are
more apt to qualify for a small business loan through a
commercial lender. Before using debt financing to fund a small
business, it is wise to first exhaust all other avenues.
Business associates, friends and family members may be willing
to invest a bit of money if you are able to provide them with a
sound business plan and the potential for a healthy return on
their investment.

 

About The Author: You will find more from this author at:
http://www.moneydinero-magazine.com

The Secret To Making Successful Business Connections

If you have a hard time making successful business connections,
don't despair. Anyone can be good at meeting people-if they use
the right technique. The whole secret to making a positive
connection is knowing how to attract people and inspire them to
want to give you a chance.

 

Here are seven proven strategies to help you make successful
business connections:

 

1. Carry yourself well and look professional. If people don't
know you at ALL, they are going to completely judge you by the
way you look. It's unfortunate, but it's true. So, make sure
you dress appropriately and your hair is well groomed. And be
sure to look people straight in the eye and firmly shake their
hand when meeting them.

 

Also, make a special effort to have a clear, professional
speaking voice-particularly if your first encounter is over the
phone. Practice what you're going to say in your head or out
loud, so you don't stumble on your words.

 

2. Know your outcomes. What do you want from this person and
what's your objective? You should ALWAYS ask yourself this
question before you make contact with anyone. In a business
situation, you want to be really clear as to what your outcomes
are. For most business people, the outcomes are to let prospects
know who you are, why they should be interested in you, and what
your goal is.

 

3. Always smile. When you see someone smile, it tells you that
they're approachable. People like people who seem approachable
because they feel more comfortable with them and will trust them
more. So make sure you show those pearly whites and practice
being sincere with your smile. And if you're contacting someone
over the phone, it's important to still smile because people can
tell by your voice if you're not.

 

4. Be honest. People can tell when someone is giving them
baloney, so be sincere when you make contact with someone.
You're taking up their most precious commodity - time. And if
you're in sales and have to read from a script, memorize it so
you can talk naturally. This will make you seem more genuine and
credible.

 

5. Offer something they need. It's so important to not bother
people with things that they don't have time for or need. If
you're not sure that they'll be interested in what you have to
say, make your introduction short and sweet. Then see if they're
interested in hearing the rest of what you're articulating. To
position your introduction to impress them, do some research to
find out what would interest them. You can conduct your research
by going on the Internet, reading about them in magazines, going
to the library, talking with their employees or meeting their
business associates.

 

6. Go out of your way. If someone is legitimately busy and they
can't talk with you, go out of your way to find out what's
convenient for them. Also, if the person you're trying to
contact tells you they feel more comfortable meeting you in
person rather than having a telephone discussion, go meet them if
it's really important to you.

 

7. Be bold and daring...but in a tactful way. Make the call or
make an in-person introduction to the person you want to meet.
Don't sit around and contemplate if you should do it because it
will never happen. It's natural to get intimidated, but be bold
and daring by pushing your fear away and taking action. However,
always conduct yourself in a tactful way, so you don't harass
people. Otherwise, people won't like you and won't want to
listen to what you have to say.

 

Don't be intimidated at the thought of contacting successful
people. Remember: They are still people, and they're no
different from you. So get out there and make contact. The worst
that could happen is that they say, "No, I'm not interested".
The best thing that could happen is that they are interested! So
as Nike says: "Just do it." Start taking steps toward making
successful connections.

 

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Copyright 2006, Kate Smalley
Connecticut Secretary
Transcription Services and Secretarial Support
http://www.connecticutsecretary.com
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