Many entrepreneurs need funding to start a business or grow their business and these folks often turn to banks for financing. Many times, however, the bank may reject your application. Yes, completing a loan application for your company is just one step in the process of securing your funds. However, actually securing the financing may take more work than you realize.
At Financially Simple, we strive to ensure you walk a financially simple path and one of the ways we do that is through earning certifications. We are proud to announce that another badge of honor has been bestowed upon Justin Goodbread. He has now added the title of Certified Value Growth Advisor™ (CVGA™) to his list of CERTIFIED FINANCIAL PLANNER™ and a Certified Exit Planning Advisor™, as well.
Have you ever thought about installing an inground swimming pool in your backyard? Or have you ever considered restoring a turn-of-the-century home? Chances are if you were thinking about doing one of these projects, you’d call a professional to help you complete the task. Why then do we think we can make major financial decisions that could have severe implications without ever talking to a financial advisor? Yet, all too often I see these mistakes happen, and many times people ask for help after the fact, and sometimes the damage is done. That’s why a recent phone call led me to think about this very subject.
Not long ago I received a Twitter message asking “Justin, what happens in a typical quarterly business planning meeting?” Today I’m giving you a little insight into just such a meeting I had recently. While I can’t go into tons of detail due to confidentiality issues, I can tell you about a meeting I had with one of my clients – a first-generation business owner.
When it comes to owning a business, it’s been stated that 80-90% of our net worth is tied up in our business. Many times business owners will go out and hire an investment advisor and pay them 1% to manage small portion. Yet, we’ll look all around trying to figure out how to grow the value of your business.
We’ve all heard the old adage about assumptions. It makes an—well you get the point. Recently I was part of a meeting that included a client and his employee. While I sat back and watched the two of them dispute of minute details, I could see both of their sides. They, however could not. Which lead me to ponder assumptions and the employee’s worth.