Recent Posts

Finance: Find the Right Financing for Your Business

Discover What’s Best for Your Business

Finding the right financing or finding ANY financing for that matter is one of the most difficult aspects of starting and building a solid small business.  You may have a great business plan and be a talented business person, but finding financing is another matter.

Business owners often start with too little money.  It is one of the most common reasons that new businesses don’t make it.  Adequate financing and managing the money is crucial in order for your business to grow and thrive.

Sources and types of small business funding fall into a few broad categories.  It will either be debt or equity financing from family and friends, a bank, venture capital, angel investors or alternative lenders.  Debt financing is a loan that you pay back.  Common sources include: family and friends, personal credit cards(not recommended), home equity lines of credit, commercial bank loans and bank loans guaranteed by the Small Business Administration (SBA).

With equity financing, you offer investors shares of your business in return for cash.  Unlike loans, you are not required to pay the money back, but these investors now own a part of your business and will want a return on their investment.  Venture capitalists work this way, and stock offerings are a type of equity financing.

Businesses can also receive a type of funding from vendors and suppliers in the form of special payment terms, discounts, direct loans or leasing options.  Suppliers and vendors want you to succeed and often times are willing to help.  Don’t be afraid to ask.

Other funding or cost sharing options include partnerships, joint ventures, and co-branding arrangements.  Partnerships are two or more people who plan to create a business together, a joint venture is when two or more firms pool their resources and create a jointly owned organization.  Co-branding is a relationship between two or more firms that promote each other.

The SBA website has an excellent section on financing that includes helpful advice on funding basics, estimating costs, personal vs. business loans, eligibility standards, steps to successful borrowing and lists of small business lenders.  For details on all SBA programs, visit

Pick a financing structure that works best for your business and make sure that everyone involved understands it.  Always be clear on whether the loan involves an ownership stake in your business or whether it is a simple debt to repay.  And be clear about the payment terms.

To legally seal the deal, use a document such as a “Promissory Note.”  It is crucial to put the terms of your borrowing agreement into a proper legal form.  You can find the downloadable legal documents that you need at  Self help legal publisher Nolo also offers loan forms and related information at

However, we always advise that you contact an attorney, who specializes in corporate and contract law to advise you.  Understand the basics and then always let the expert create the final document that will protect you and the investor.

To learn more about financing your small business, contact SCORE- Counselors to America’s Small Business and take advantage of the business resources available to you.

Julie Brander - Business Mentor, SCORE New Haven
Julie has been a SCORE volunteer since 1997. She has 20 years of experience in business, starting a manufacturing, wholesale and retail jewelry company. After selling her business, she dedicated herself to helping other entrepreneurs start and expand their business. | @juliebrander | More from Julie


Marketing: Adding Webinars to Your Repertoire

Webinars Add Value and Build Your Brand

There are many reasons why you might want to add webinars to your business bag of tricks:

Webinars are easy in two ways:
From a practical standpoint, offering a webinar requires only that you have a great subject, a PowerPoint presentation, and a host for the webinar. A simple Google search will yield a host of hosts who can help you put on and promote the event.

  1. From the speaker’s perspective, presenting a webinar is fairly easy because 1) there is no travel involved, and 2) as you are speaking on a phone call only, you can have as many notes as you like in front of you.

They add value: Offering a webinar, either on your own site or someone else’s, creates value for the participant. I do webinars for many companies and often they offer the webinars as a free value-added bonus to their best small business customers. It is an affordable way to create goodwill and customer loyalty, add value, and to stay top-of-mind.

They can be a nice profit center: You can make money two ways with a webinar. First, you can charge people to attend. If your topic is compelling enough, that works. Second, because webinars can be recorded, by recording yours, you are creating a product that you can sell and sell for a long time.

For instance, over at my website we offer a webinar called Marketing on a Shoestring. Although I recorded that webinar a while ago, it remains relevant and popular. (See “webinars” on the blue tabs.)

They position you as the go-to expert: If you are the presenter of the webinar, you must be an expert, right? Another option is to bring in other experts onto your site and offer their expertise to your base.

For example, I have listened to many fantastic teleseminars over at SpeakerNet News – a resource for speakers, consultants, authors, etc. They have a cadre of great speakers. Similarly, my pal Tara Reed brings in experts for her Teleseminar series, teaching artists how to make money with their art via licensing, branding, etc..

You could do the same in your industry.

They capture email: Creating your own online list is important for marketing purposes. People who sign up for your webinar are opting-in, giving you their email address, and in the process, helping you grow your list.

They engage your audience: As I am wont to say, it is not enough these days to simply have a static website. People expect more. Webinars are a cool Web 2.0 tool that engage your audience and help you forge a closer connection to your customers.

Steve Strauss - Founder, and
Steven is one of the world’s leading entrepreneurship and small business experts. He is a lawyer, public speaker and author, speaking around the world about entrepreneurship. He has been seen on CNN, CNBC, The O’Reilly Factor, and his column, Ask an Expert, appears weekly on | | @stevestrauss | More from Steve