How to Get the Money You Need

need-money-for-business

This post is sponsored by Microsoft in honor of National Entrepreneurship Week February 20 to 24, 2017. On this episode, I cohost with Melanie Gass from Microsoft and our guest is Amber Colley at Dun and Bradstreet  who talks about getting the money you need for your business.

One of the biggest problems small businesses face has is getting the money they need. Capital typically has three sources: customers, vendor credit and a bank. Amber explains that if a business does not build their credit profile from the start, they will not be able to get the vendor credit or bank capital they require to grow their company. She says that every small business has a credit report and it tells a story of how trustworthy you are to do business with over a period of time. Traditional loans are only given to the businesses that have the best credit report and vendor terms are only secured by companies that have a verifiable track record. This is why it is critical to be proactive on your credit track record instead of reactive.

Small businesses should also use credit reports to check out the reliability of their customers paying on time. A customer is not helpful in growing business unless they pay within terms; they are collections problem.

Listen to this radio segment with Amber Colley on the show #418.

Amber Colley who is a Senior Vice President with Dun & Bradstreet who brings 20 years’ experience working with businesses of all sizes to help them grow and prosper.  She has coached thousands of business owners on establishing a business credit profile that will get them the funding, cash flow and finance terms they need.

Melanie Gass, Sr. Business Development Manager for Microsoft  and the brainchild behind National Entrepreneurship Week. She helps shape Microsoft Community Connections (MCC)  to deliver strong value to customers and influencers.

By | February 23rd, 2017|Business|Comments Off on How to Get the Money You Need

About the Author:

Barry Moltz gets business owners unstuck by unlocking their long forgotten potential. With decades of entrepreneurial experience in his own business ventures, he has discovered the formula to get stuck business owners and increasing their sales. Barry has founded and run small businesses with a great deal of success and failure for more than 20 years. After successfully selling his last operating business, Barry founded an angel investor group, an angel fund, and is a former advisory member of the board of the Angel Capital Education Foundation. His first book, “You Need to Be A Little Crazy: The Truth about Starting and Growing Your Business” describes the ups and downs and emotional trials of running a business. His second book, “Bounce! Failure, Resiliency and the Confidence to Achieve Your Next Great Success”, shows what it takes to come back and develop true business confidence. His third book, “BAM! Delivering Customer Service in a Self-Service World” shows how customer service is the new marketing. His fourth book, “Small Town Rules: How Small Business and Big Brands can Profit in a Connected Economy” shows how when every customer can talk to every other customer, it’s like living in a small town: Your reputation is everything! His fifth book, “How to Get Unstuck: 25 Ways to Get Your Business Growing Again” helps every small business owners move their company to the next level. Barry is a nationally recognized speaker on small business who has given hundreds of presentations to audiences ranging in size from 20 to 20,000. As a member of the Entrepreneurship Hall of Fame, he has appeared on many TV and radio programs such as CNBC’s The Big Idea, and MSNBC’s Your Business. He hosts his own radio show on AM560, and writes for American Express and Forbes.