The 6 Biggest Mistakes You’ll Probably Make Raising Money

The 6 Biggest Reasons Startups Fail at Fundraising Jeremy Liddle believes entrepreneurs are changing the world and personally understands the challenges they experience. The number one problem cited by young entrepreneurs is raising funds with Forbes reporting that an astonishing 90% of start-ups fail. A key element in raising funds is the power of your inner...
5 Fundamentals You Need To Plan For Your Business Growth

5 Fundamentals You Need To Plan For Your Business Growth

As an entrepreneur, you are constantly engaged in building your business and increasing your revenues. Here are 5  fundamentals you need to plan for your business growth: 1. Acquiring new customers We all have heard that people do business with people they know, like and trust. Yet to grow your business, you have to attract, convert and close new customers that do not know you and have no reason to trust you. “Anyone interested in my services” is too general of a statement. By targeting a specific audience, you are not excluding people, rather focusing your resources and energies at a higher level to attract a market that is more likely to buy from you than any others. 2. Honing in on your competitive edge When looking at your competitive advantage, you inevitably compare your products and performance to those of your competitors. Yet spinning your wheels searching for all the ways that you are “better” will not advance you very far. Your distinction is not defined by your competitors but by your best customers. These are the customers for whom you made a difference, for whom you were the only answer. Learn from them. 3. Undervaluing your product/service To grow their market share, small businesses often sacrifice their revenues by undervaluing their products/services to reach a wider audience. Such tactic requires patience and a lot of capital for no guaranteed success. A more sustainable route to build your business is to create more value for your customers by refining your unique selling proposition. 4. Learning new technology As an entrepreneur, you are constantly on the move, adapting to...

Which Type Of Lender Is Right For You?

There will come a time when you will seek capital to help grow your business! It is important to understand that you have options, choices and you decide what, how, when, who, where you receive the capital from. Options mean what types of capital available to you. Choices refers to programs, what type of capital you want, how refers to amount of capital you need, when refers to when you would like to receive the capital, who refers to which company you want to do business with and where refers to lenders location, ability to service, etc. In understanding this we have assembled an overview chart of broker vs. direct lender to educate you so the best decision can be reached. Here is why you should consider each: Options: Brokers will have multiple lenders for multiple loan products. Multiple lenders mean better bargaining position regarding rates, terms and fees. Direct Lenders will only have access to their loan programs.  As brokers Altima is consistently able to achieve better terms, rates, etc. for our clients by negotiating one lender against another. Timeliness: A brokers ability to quickly place an applicant with the correct lending source based on lenders criteria means quicker funding. Direct Lenders have to lump everyone into their specific guidelines and if you don’t fit, they cannot provide you with the necessary funds, meaning wasted time. Every lender has a different risk tolerance and appetite. I.e. Construction Vs. Retail, 800 Fico Vs. 520, etc. It’s important to know this for effective and time efficient outcomes. We research lenders loan programs to ensure borrower meets their guidelines for faster...

3 Moves To Reap The gold Of The New Knowledge Economy

Breaking news! Mediocrity has died! R.I.P. It all started about five to seven years ago when social media started becoming a mainstream platform for interaction, news and entertainment. There became a devastating fight between Excellence and Mediocrity. Recently mediocrity has succumbed to its injuries and has died. How could this happen? According to the book “Intellectual Capital” (author Thomas A Stewart), we are in a knowledge based economy. ‘In this new era, wealth is the product of knowledge’, says Stewart. This means there are more intelligence and knowledge in products and services than there are parts and labor. For example a laptop today does way more in terms of processing, speed, weight and cost less than a desktop of five years ago. They have better chips, lighter cases, etc., all as a result of intelligence. Today’s products and services have made a paradigm and fundamental shift to be excellent. Why? Increased competition, abundance of information available to consumers as well as consumers being more discerning with who and how they give and spend their money. How do you transform your business in this new paradigm? Become the expert at what you do. Know and focus on your product or service so intently that when asked you can exude such confidence that you will leave no doubt in your knowledge, experience and ability to perform. Fill knowledge voids with knowledgeable people. You can’t be great at everything, so surround yourself or hire/outsource to people that possess the knowledge, experience and skillset to execute at a level you can’t. Everything is learnable, however the key is to understand what is worthy...

18 books billionaire Warren Buffett thinks everyone should read

18 books billionaire Warren Buffett thinks everyone should read When Warren Buffett started his investing career, he would read 600, 750, or 1,000 pages a day. Even now, he still spends about 80% of his day reading. “Look, my job is essentially just corralling more and more and more facts and information, and occasionally seeing whether that leads to some action,” he once said in an...