There is #NoFreeMoney for your business (ever)

Listen to the podcast here

https://dylangallagher.podbean.com/mf/play/5nhxiu/mar21_nofreemoney_podcast_final.mp3?_=1

It’s going to cost how much!!! You must be crazy!!!

That comment is made by entrepreneurs and business owners after hearing how much it costs to borrow money from either a mid market or private lender. The comment is usually followed by a series of expletives that I won’t type here but needless to say the cost of capital is something that can scare or upset someone who maybe hasn’t thought through the opportunity cost (see past blog post here). There is no such thing as free money when it comes to business but more importantly the money your business is using has a cost to it that you may never have thought about but you might want to.

Continue reading “There is #NoFreeMoney for your business (ever)”

Do you know who to #getmoney from for your business?

Listen to the podcast here:

https://dylangallagher.podbean.com/mf/play/xk2g9w/episode_02242017_getmoney_audio_final.mp3?_=2

Let’s face it. Entrepreneurs and business owners are always looking for money. I find it interesting that many folks running a business who need money don’t take the time to really understand how much money is actually out there and available to them. When words like “money, financing and capital” are used they can cause someone’s eyes to glaze over as these terms are associated with confusing and uninteresting concepts. The truth is that money can be complicated and boring to understand but it doesn’t have to be.

Here is what you need to know about how your business can #getmoney. Continue reading “Do you know who to #getmoney from for your business?”

Don’t be fooled by #fakemath

Listen to the podcast here:

https://dylangallagher.podbean.com/mf/play/efm696/episode_02232017_final.mp3?_=3

I was listening to a podcast by Gary Vaynerchuk this morning as he was giving a keynote speech and he mentioned the term “fake math” to define a concept related to marketing and advertising but it stuck me as being completely appropriate for entrepreneurs and business owners. #fakemath tends to be a real problem for businesses that generate less than $25,000,000 in gross revenue. What I mean by #fakemath is the difference between what a business expects to make or achieve and what they are actually making and achieving. Continue reading “Don’t be fooled by #fakemath”

Crowdfunding is off to a good start but how will it end?

Peter Thiel makes a comment in his book Zero to One “If you have invented something new but you haven’t invented an effective way to sell it, you have a bad business – no matter how good the product” which got me thinking about crowdfunding. I was chatting with someone over the weekend who had sent me another invitation to a crowdfunding web portal that connects  businesses with venture capital. As we got talking about it I found myself thinking back to Peter’s comment and realizing that crowdfunding might be working but has the market really bought it? Is it a niche opportunity that will always fill a void because the greater market isn’t sold on it? Do crowdfunding platforms have their work cut out for them before they become a mainstream competitor for capital? Continue reading “Crowdfunding is off to a good start but how will it end?”

$60 billion tells us there is a market somewhere

We all know that money doesn’t disappear it moves. Right now the price of oil is sinking which means that money is moving from one side of the market to the other. But what is the other side? If you follow the movement of money you will inevitably hit one spot along the way that cannot be missed – the consumer. With low energy prices consumers will have more disposable money to spend. This is a simplistic observation of a complicated shift in the market but does provide start-ups and growing businesses with something to talk about and respond to.

How is your business going to take advantage of consumers who have more cash?

An easy question that might not have an easy answer.  Continue reading “$60 billion tells us there is a market somewhere”

What your business can learn from the GoPro stock price crash

Even a good business isn’t safe from competition or market forces – just ask GoPro. As an entrepreneur running a start-up or a business owner trying to grow a company you need to be prepared for what might be lurking in the economy or amongst those in your marketplace. In GoPro’s case they built a business around a great product and have experienced massive growth and market adoption – the goal of every business. Apple has filed a patent that might force some change at GoPro (read more here) similar to the type of change that is happening with businesses being impacted by the drop in oil prices. But there is a silver lining. Continue reading “What your business can learn from the GoPro stock price crash”

What does it mean to have “capital support”

“Capital support” is a term I use to figure out how a business can access the capital they need to support their activities.  Many businesses owners wouldn’t consider “capital support” an item that they would specifically and intentionally address as they manage their cash flow the best they know how as capital is needed.  Taking some time to consider the sources of capital that your business has access to can help you plan your cash flow and reduce the amount of time and effort spent trying to scramble at the last moment.

Continue reading “What does it mean to have “capital support””