Having a good idea is important but it is only one step in the process of starting a business. There are many other elements that are required which include: a business plan, a team, capital, a financial model, experience, etc. High net worth investors and lenders will want to be comfortable that this new business has all of these elements (except maybe the capital part) in place before they write you a check for x amount of dollars. .

That's a common chicken or the egg type of problem for entrepreneurs. They have a business plan and model but don't have the capital to fund it because investors want to see a team in place & potential team members want to have assurance that they will be paid. .

The other day an entrepreneur that sells a patented golf product asked us, "when is it the right time to obtain financing?" This seems to be a common question among entrepreneurs these days so we decided to address it with a few questions and answers. .

Congratulations on taking a chance with trying to purchase a business. The best times to do this often occur during a recessionary period when many companies are sold at deep discounted prices. Many people would argue that we are still in that period. .

There is no question that it's a great idea to work in partnership with certain financing companies to provide your customers with more payment options. However, you want to be very selective in which companies you choose to partner with as your endorsement carries some responsibility and could impact your reputation should customers have poor experiences with the financing companies. .

Having a strong business plan is important, but it is only one step in the process of starting a business. If you have a great concept, but have poor credit and don't have previous experience, you will be hard-pressed to find a suitable lender. It is critical to find out exactly what you need to encourage the lenders to grant you a loan. .

The craze among banks to increase small business lending is taking a new marketing turn. In the spirit of “lending more,” Chase bank has launched a new lending program offering small businesses interest rate discounts, up to 2%, for hiring new employees. Let’s take a look to see if this program is more than just a creative marketing tactic. Read More.

There seems to be no shortage of small businesses looking to grow with outside financing. Of course, the problem that many small businesses face is that they don't know who to contact to achieve this goal. Contacting the right people can be the difference maker as our financial experts explain. .

Many new businesses are faced with the decision of growing a business by giving up equity to a partner or seeking a bank for financing. The good news with this problem is that you have options, but the bad news is that there are a lot of factors to consider. .

Looking to grow your business and hire more staff is always a very exciting yet important point in a business. .