Author: mccbloom@gmail.com
The 3 Most Effective Ways to Get Vendor Discounts
Creating successful relationships with vendors is every bit as important as the relationships you build with your customers. It doesn’t really matter if you sell a product or provide a service, most small business owners’ work with suppliers who either provide the goods you sell or products that help you deliver the service you offer.…
What Your Small Business Must Do Before the End of December
The holiday season is finally upon us, and while your small business may be focused on creating more happy customers this holiday season, there is another important consideration to keep in mind: the end of the year. Yes, the New Year is right around the corner. For your business, that means now is the perfect…
Is a Personal Mentor Too “Old School” in Today’s Technological World?
With tools like my smartphone, tablet, or laptop, I basically have the collected wisdom of the world at my fingertips; do I really need a personal mentor to help me build a successful small business? This isn’t an unreasonable question, and one David R. Bobbit, president of the SCORE Foundation helps answer. SCORE is a…
November Roundup: Headlines From Around the Web
Our blog isn’t the only place you can read what we’re saying about the world of small business. Here’s what we don’t want you to miss from November: USA Today: Where the Rubber Hits the Road: What it Really Takes to Succeed on Main Street—Noah Breslow There’s no shortcut to driving business success, but Noah…
Why Does My Lender Want to Know My Personal Credit Score?
Why is your lender asking about your personal credit score? It’s a reasonable question if you’re looking for a small business loan. For most small business owners, particularly if you’ve been in business less than five years, your personal credit score is every bit as important as your business credit score. For startups and early-stage…
7 U.S. Presidents Who You Never Knew Ran Small Businesses
You may be surprised to know that among the lawyers and captains of industry, many of the Chief Executives of the United States gained valuable leadership experience as small business owners. Here’s a roundup of 7 presidents who ran their own businesses. 1. George Washington (1st President) Washington ran two successful whiskey stills in early…
5 Reasons Small Businesses Don’t Rely On Black Friday
Black Friday (a term born in the 1960s when Philadelphia cops complained about holiday shopping traffic) has become an increasingly important event for the likes of Walmart, Target, BestBuy, and other big box stores. Last year, about 141 million consumers took advantage of the day’s famous deals, with the average customer spending a little over…
How to Find Your Business Credit Score
In addition to your personal credit score, if you’re a small business owner you also have a business credit score. Although personal credit scores are used to evaluate most small business owner’s credit worthiness—even those who have been around for several years – your business credit score is a key piece of being able to…
3 Easy Tips for Choosing a Payment Processor
With so many payment processors out there, how do you decide which one you should choose for your business? A new study from NerdWallet suggests both brick and mortar, as well as online small businesses, consider a number of factors before picking a provider. In order to narrow it down to what should work for…
Business Financing Through Unconventional Methods
For those small business owners that think a small business loan is out of their reach – prepare to be inspired. Jake Fitzsimmons, opened a hamburger bar in Colorado in 2010. He thought the odds of obtaining a loan were so low that he often asked himself, “why even bother [applying]?” However, because he had…
4 Ways to Start Raising Your Credit Score
If you’ve already taken steps to separate your personal credit from your business credit, then congratulations! However once you’ve taken this initial action, it’s important to maintain your business credit score in order to make your business as attractive as possible to potential lenders. Listed below are four tips for understanding how you can keep…
Personal Credit Vs. Business Credit
As a business owner, it’s important to understand the difference between your personal credit score and your business credit score. Personal credit is what you build by showing trustworthiness when it comes to paying your bills on time and in full, from credit cards to automobile loans to home loans. Doing so increases your credit…
How to Find Your Business Credit Score
As a small business owner, it’s important to have a firm handle on your business credit score. Establishing good credit is an integral part of a company’s overall health, but for many owners, the process of discovering what your score is – or why it’s important – can often be unclear. To start, the data…
What Is a Business Credit Score?
According to Entrepreneur Magazine, less than 10% of all business owners understand how business credit is established1. However, if you want to access capital, it’s important to understand your business credit profile. So, what exactly is a business credit score? Your business credit score is compiled from credit obligation information, legal files, and background information…
1 Simple Rule for Building Better Business Credit
Ever heard of the “5-3-2 Rule”? Neither had we, until we saw this infographic from Bank of America. Having a strong credit profile is key for any business looking to secure financing, and this rule helps business owners stay on track as they build their business credit. Maintain 5 active trade accounts If you want…