Entrepreneurship. It’s the new American dream. It’s the alternative to climbing the “corporate ladder.” It’s about creating your own “corporate ladder” and helping others along the way.
You’re now in the thick of this new venture. Your idea is working and your audience has taken hold of your product or service. You’ve been in business for a year and have made some revenue. But you’re ready to take it to the next level.
Take Your Business to the Next Level
How, you ask? Financing your business can help do just that. But how does a business owner go about choosing the right option? There are a wealth of options out there for newer businesses. Some may ask wealthy family members and friends and others may go the more traditional route by talking to a bank.
Ruben Creus, Managing Partner of Binnacle Consulting Group, tells us how he approached a traditional bank and the outcome. As a young management-consulting firm that has seen success and has had contracts in the pipeline, he explains that it was very difficult dealing with a large financial institution. They wanted to see an older business that has made large amounts of money already. “Traditional banks want to see traditional brick-and-mortar businesses,” Creus said.