Things You Should Know When Applying For A Business Loan
by Scott Capen
Now that the economy seems be coming out of its long protracted slump, you may be considering applying for a small business loan to help you over the hump of the slow months ahead.
Or perhaps this is a good time to start thinking about expanding your business. Either way, you’ll increase your chances of getting a loan if you do some simple preparation before you go off to visit your friendly neighborhood banker.
Common Mistakes Made By Those Who Negotiate Their Own Lease
By Scott Capen
The Risk Mistake
A lot of people think that entrepreneurs are people who like to take a risk. Well that could not be farther from the truth. The reality is an entrepreneur leaves nothing to chance. Successful entrepreneurs have done their homework and checked their facts three times over or more. Why? Because they don’t like surprises!
Lots of small business owners will not conduct the research necessary to find the location that absolutely meets their needs. Choosing the right location can be the difference between success and failure. And just as important, is choosing a location that can meet your needs in the future. They fail to ask themselves; what if I need to expand, contract, or abandon my business completely? And if I need to do any of these things, am I going to be able to do so without losing my shirt?
As much as I hate to say it, a lot of new business owners end up “settling” for a location because the get worn out looking at location after location and don’t know where to get the information they need that will tell them if a location will work or not.
So they take the “risk” on a location that may end up sinking their business in the short term.