How Criticism Can Save Your Small Business

How Criticism Can Save Your Small Business

How Criticism Can Save Your Small Business Mistakes are critical to business growth. We learn the most when we’re faced with trickier problems and customer complaints that force us to get creative. Whether you’re a booming tech leader like Facebook or a local mom-and-pop, your team should always have an ear to the ground, accepting and encouraging feedback from happy and unhappy customers alike.   Here are free local events about business and funding: Arizona Prosperity Initiative Workshops at the Business Resources and Innovations Center, (BRiC), City of Tempe, starting October 4, 2016 at 6:00 pm Arizona Prosperity Initiative. Stop Struggling! Free Mentoring   Altima Business Solutions, “Empowering You To Focus!” Altima Business Solutions is a full service Management Consulting Firm specializing in helping business owners maximize efficiency, profitability and company value to improve the lifestyle of employees and...
Shortage of Money: Myth or Reality

Shortage of Money: Myth or Reality

Myth!!!! There is absolutely no shortage of money. Only a shortage of business sophistication! Investors/lenders are looking for sound business models and a sound product or service in industry leading sectors. Just because you have a product or service catering to Software, Fintech, Clean Energy, Internet of Things (IoT), Ambient Technology and more will not guarantee you a check. Here is what will give you the best chance of getting a check: Management: How strong is your team? What are the clearly defined roles and skill sets to match? Product: What problem does your product or service solve, not only today, but also tomorrow? How are you reshaping the status quo? How do you know that will be the problem tomorrow? Have your POC (proof of concept) completed and enough research to defend and support your vision of tomorrow Capital: How much do you need? How do you know you need that amount? Do you have a cash flow statement, balance sheet, realistic projections based on as many facts as possible? Ask for what you need! If you needed $1,500 for your mortgage you wouldn’t tell people you need $300 because you were being conservative. Ask for what will get you to the next level. Exit: When and how does the investor/lender get their money back? If someone ask you for money and you didn’t know them, would that not be one of the first questions you ask? How are you sure you can pay me back? When will I get my money back? This is the simplified gist of what every investor/lender is looking for to get comfortable...