What Monopoly can teach you about business funding

What Monopoly can teach you about business funding

Monopoly has been a classic board game for over 100 years but if you’ve played it, you quickly realize what it takes to keep the cash flowing to become a real estate tycoon. But the game offers wisdom that can be applied to the real world of financing. Below are four comparisons to increase your understanding and chances of securing the funding your business needs. 1/ Assets Based on real estate, Monopoly allows you to amass three types of assets: land, houses and hotels. Sometimes, when you are low on cash, you can trade a house or two, maybe a hotel, for a loan from the bank. In your business, your assets can be a piece of land or a building, as well as equipment, vehicles, inventory, etc. This can be used as collateral by a lender to guarantee that you will repay them the loan they approved. 2/ Cash flow Doesn’t it feel good to collect cash every time a player stops on your property and has to pay the rent? Yeah, lenders love that too! If you have a history of consistently collecting revenue, lenders will feel comfortable that you possess that know-how and will continue to produce, providing an ability to repay the monies they lent you. 3/Get-Out-Of-Jail card At times we can use some help from above! In the same way that a get-out-of-jail card bails you out when you need it the most, in real life, a co-signer, someone willing to pledge their assets or personal reputation, could be just what you need to overcome current challenges. 4/Always have cash on hand By far,...
What is a Funding Executive?

What is a Funding Executive?

Q: What is a Funding Executive? A: A funding executive is a financing expert who interacts with banks and lending institutions on your behalf. They have an in-depth understanding of all the types of business funding as well as a large pool of financing sources. Contrary to a banker, they do not work with one bank or lending institutions but a multitude. Q: What does a Funding Executive do? A: A Funding Executive helps businesses procure financing for their organizations. They select, solicit and negotiate funding on your behalf, representing your interests and not those of any particular banks and lending institutions. For example, your banker can only offer you a loan or line of credit from the bank he/she works for, limiting your options. A Funding Executive, on the contrary, doesn’t work for one bank or lending institution but rather have a ‘distributor’ relationship with multiple banks and lending institutions. That allows the Funding Executive to compare and find the best options available for you on the market. Q: How does a Funding Executive get paid? A: A Funding Executive gets compensated through commission paid on the amount of financing secured. Depending on the type of funding, commission can be paid either by the lending institution or by the business for which funds have been secured. Note: These commissions do not include any preparatory work, performed by their underwriting back office, that may be required. Q: Why do I need a Funding Executive? A: A business loan (or other business financing type) is not the simplest product! A good Funding Executive can navigate you through many question marks, compare...
Impact-Driven Business Accelerator Seeks 5 Growth-Stage Companies

Impact-Driven Business Accelerator Seeks 5 Growth-Stage Companies

Altima Business Solutions is seeking second-stage startups for API10X spring accelerator program to help the most promising entrepreneurs make an impact. Focused on founders and their ventures, this concierge accelerator program offers one-on-one mentoring with experts and connections with Altima’s network of industry influencers, among other services. “Building a product and building a business are two different things. We focus on founders to help them understand what their next best moves are to build an impactful business” said Carine Dieudé, partner and strategy director at Altima Business Solutions. “It’s not just about the product, the service or the trade. Creating a company that has impact requires designing its business model and management systems to positively influence the results,” Dieudé said. Startups and small businesses, regardless of industry, that have already proven their concept and have traction are invited to apply for the 12-week impact-driven program, API10X, by March 30, 2018. API10X started as a summer accelerator program for Arizona State University for Venture Devils startups last May. Altima decided to start a similar program outside of ASU to help other promising companies with a wide range of expertise to solve their core problems and transfer wealth: more traction, more sales, and more profit. “The goal is to have promising companies get above the noise and be a success story,” Dieudé said. “ Altima Business Solutions, which was founded 18 years ago, supports business owners and entrepreneurs from decision-making to execution with On-Demand Executives and On-Demand Solutions in all five fundamentals of business: Access to Capital, Financial Management, Critical Path, Sales and Accountability. As a result, they transfer tangible wealth to...
For These Young Entrepreneurs, Silicon Valley Is, Like, Lame

For These Young Entrepreneurs, Silicon Valley Is, Like, Lame

For These Young Entrepreneurs, Silicon Valley Is, Like, Lame A trip to Silicon Valley is something of a rite for ambitious Chinese startups and investors looking for inspiration in global tech’s mecca of innovation. But a visit last week failed to impress. Silicon Valley’s allure is...
You Want Investors’ Money? Stop Selling the Labor Pains. Show off the Baby!

You Want Investors’ Money? Stop Selling the Labor Pains. Show off the Baby!

People don’t bare gifts because of the labor pains. They bring gifts to celebrate the new creation. Summer is almost upon us: graduations, proms and last couple of investors’ conferences before vacation time. I’ll be heading to Silicon Valley Open Door (SVOD), a technology investment conference, in San Francisco, and to the RESI (Reinventing Early Stage Investment) conference in San Diego, which focuses on life science companies, as part of the investors’ panel. I’ll meet with the founders seeking funding and discuss opportunities with investors during one on one breakout sessions. If you are one of these founders, here is what I will be looking for:   Traction. What have you achieved? What milestones have you passed? Are you generating revenue? How have you proven you are solving a problem? These days, even angels tend to behave like VC, looking for traction. As an early stage company, and more so for those in life science sector, traction can be a daunting concept. You most likely don’t have revenue yet but there is always slow and measurable progress to leverage. Maybe you have identified and proven your target customer with sign up for upcoming trials; maybe you have endorsement from recognized scientific entities or perhaps pursuing a co-validation.   What does tomorrow look like? What changes do you anticipate in the market place? How will you still be relevant? You don’t have to know exactly, but based on trends, data and research, how are you directionally correct? From the time you conceptualized your idea to the first research/iteration to today, most likely a couple of years have passed. With seven...