"The Business Code" by Dan Brown

Raising Money For Your Small Business An overview of Small Business Funding Options is now available on Amazon

“The great thing in the world is not so much where we stand, as in what direction we are moving.” Oliver Wendell Holmes Wells Fargo’s in depth study of business turnarounds concluded “all turnaround situations could have been avoided if timely corrective action had been taken.”   What is pre-turnaround?   Pre-turnaround is an integrated comprehensive action ensuring internal consistency, by reshaping strategy, financial aspects, organization and operations to transform a business to realize its strategy and vision and avert turnaround status. A pre-turnaround program is company-wide and touches every aspect of the company. Contrary to common misconceptions, pre-turnaround does not always involve employee and expense cuts. If pre-turnaround initiatives are implemented early enough objectives can often be attained through restructure and re-direction to increase revenues and efficiencies.   Pre-turnaround not only focuses on what to change,...

While there are many lists available as to why you should have a business plan there are basic reasons you need a business plan: To get a loan for your business. Banks, the SBA, and investors all require a business plan. I’ve never heard of anyone getting a business loan without a business plan. To get investors. VC’s, Angels, and private investors all require a business plan. I’ve never heard of anyone receiving an investment without a business plan. A road map to run and grow your business A proper business plan will define operational and growth milestones. Your business plan should set out the “road map” for you to follow to business success. Your plan allows you to make sure everyone is on the same page and be proactive in response to market changes. The old adage still applies, “the only people who need a business plan are people starting a business, people buying a business, people selling a business, people who own a business. If you are thinking about or in bus...

I am often asked what is the value of my business or how much ownership do I have to give up. Too often a potential client insists their business is worth millions and investors would be falling over themselves to rush to give the business owner millions for a few percent ownership. There are thousands of pages written about how to value a startup or pre-revenue company. Before proceeding with yet another page on how to value your startup I’ll give you the simple answer. A business, like anything, is worth what someone is willing to pay. For owners valuing their business is often an emotional exercise. For investors it is a logical exercise in math. Each business sector has an accepted multiple to set the value for companies generating revenue and profits. Depending on your sector the multiple is either times revenue, EBITDA, or profit. E.g. at 3 times revenue, if you have $1 million in revenue your business is worth $3 million. If you have revenue and no profits usually the...

Too often I am contacted by people who mistakenly believe that a “great idea” means people will want to give them money to start their business. Reality check: if you have no money to assist with your fund raising or crowdfunding campaign then it’s probably best that you don’t even try. You need money for a comprehensive investor or lender-centric business plan, executive summary, and pitch deck, for  lawyers, for accountants, for marketing, for assistance with your offering terms, for more marketing, for due diligence costs, for escrow fees (if applicable), for offering transaction fees, for regulatory filing fees, and for more marketing. You may have the coolest thing in the world, but nobody works for free and you’ll only get what you pay for in terms of services and quality. Many are under the misconception that you can raise lots of money by simply posting your deal on a crowdfunding site. The key to successful crowdfunding is marketing your offering. The keys are ...