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3 Reasons Your Bank Seems So Stingy

by / ⠀Startup Advice / April 27, 2013

We hear it all the time, frustrated entrepreneurs say things like: “The big banks aren’t lending to small businesses” “The banks aren’t willing to take a risk” “Why do banks even advertise small business loans? They don’t approve anyone!” It is easy to blame the stingy, greedy bankers for your company’s inability to raise capital, but I think it is helpful to put yourself in the banks shoes…

Top 3 Financial Mistakes That Kill Startups

by / ⠀Startup Advice / February 9, 2013

Startups make a lot of mistakes, it just comes with the territory.  In order to succeed as a startup, you will need to make mistakes, take risks, and adapt quickly, but when it comes to your finances there are a handful of mistakes that you just can’t afford to make.  These three common financial mistakes have killed many startups, make sure they don’t kill yours. 1.  Overestimating the…

Can Your Small Business Survive a Eurozone Disaster?

by / ⠀Startup Advice / June 13, 2012

After the banking disaster in 2008 the United States government stepped in and required many US banks to undergo what they called “stress tests.”  In a very simplistic sense, these stress tests were simply glorified what-if scenario analysis. The purpose of the stress tests were to determine whether the banks could survive without government intervention if certain scenarios occurred. For example, what if unemployment reached 15%, or what…

Please Don’t Try to Build the Next Instagram

by / ⠀Startup Advice / April 15, 2012

2 years of work…  $1 billion payout… In an instant, this became the dream of thousands of young, enthusiastic entrepreneurs.  Instagram was founded in 2010.  They built a relatively simple photo sharing application, gained traction, raised capital, continued to grow, found a buyer (Facebook) at just the right time, and cashed out big time.  Sounds easy right? There are now thousands of young entrepreneurs saying, “all it takes…

7 Devastating Elevator Pitch Mistakes

by / ⠀Funding Startup Advice / January 10, 2012

When you pitch your company, product, or service are you met with blank stares?  Does your audience politely smile, nod, and then walk away?  Maybe it is time to take a closer look at your pitch and make sure that you are not making one of the following deadly mistakes. 1.  Using Industry Jargon One of the worst pitch mistakes you can make is using industry jargon.  Don’t…

3 Worst Ways to Find a Potential Investor

by / ⠀Funding Startup Advice / January 14, 2011

A couple months ago I wrote an article titled Top 10 Website to Find Angel Investors.  My research for that article revealed that there are virtually hundreds if not thousands of ways to find potential investors, but today I want to focus on the 3 worst ways to find a potential investor.  According to the Angel Capital Education Foundation, only 1 to 4% of angel investor applicants successfully…

The 5 Most Devastating Funding Mistakes that Most Entrepreneurs Make

by / ⠀Funding Startup Advice / December 3, 2010

For most entrepreneurs these days, funding is nearly impossible to come by.  According to the report titled, “Important Things for Entrepreneurs to Know about Angel Investors” which is distributed by the Angel Capital Education Foundation, only 1 to 4% of angel investment applicants successfully raise angel investment capital.  So before you ruin your chance at securing investors, please make sure you have not committed any of the following…

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