Tuesday, January 23, 2018

Does Your Startup Really Need a Financial Consultant?

Guest article by Anthony Coggine, HR professional and business writer

Does Your Startup Really Need a Financial Consultant?

In the digital age, accessibility and autonomy are becoming a defining part of startup culture. With a growing freelance economy and so much public information aimed to help small business get off the ground, a growing number of entrepreneurs and small business owners are questioning the needs for services often associated with traditional business practices, such as consulting services. With so many conflicting views on whether or not startups really need financial consultants, it really all boils down to the individual needs of each business.

Here are some of the main arguments, both for and against, taking on a financial consultant that will help you decide whether or not your startup could benefit from these services.

A second set of eyes
You would be hard pressed to come across a business that doesn’t understand the value of a second opinion. When it comes to financial modeling, there are various benefits that come from an expert opinion, but it can also be a risky move if you don’t pick the right person.

      An experienced financial consultant can help you create a customized budget that will help you control your finances and highlight where you can make improvement
      Financial consultants tend to have a wealth of experience and can introduce new concepts and ideas that will help improve your financial performance
      Financial consultants can help you develop a financial model that makes room for lucrative opportunities

      Hiring a financial advisor is an investment, thus it’s important that you have goals in place for your new hire to ensure you aren’t wasting time and resources
      A financial advisor that doesn’t specialize in your industry or understand your company culture could potentially point you in the wrong direction
      Taking on a consultant's means opening yourself to someone else's opinions, which can backfire if you aren't ready to introduce new ideas

Before making a final decision, it’s essential that you establish any issues that you might be facing. In addition, map out your expectations in order to understand the various pros and cons of taking on a new team member and whether or not that will work for you.

Financial health isn’t only about dollar signs
Growing businesses often start out with a small core team that handle pretty much everything from marketing to human resources and financial matters. Bootstrapping your business naturally instills a sense of pride and unity within teams, but as you start to grow you run the risk of burning out your team members. While most companies take on financial consultants to help organize money matters, there are also numerous advantages for the human side of your business, as long as you know how to reach them, of course.

      Financial advisors can evaluate your team structure and make suggestions on potential new hires or training needed to streamline team efficiency and productivity
      Finance experts can help you execute a strategy that caters to your specific needs, whether that means cutting down on certain resources without compromising growth
      Taking on a financial consultant can help relieve burden from less experienced team members who may be taking care of financial tasks to save on costs

      Hiring a consultant to help you improve productivity is only possible if you have a good sense of team dynamics, as an outside hire cannot help you improve without your internal knowledge
      Taking on a financial expert that doesn’t have experience in your industry is risky as they may provide advice that doesn’t pertain to your company
      Startups should most likely avoid financial consultants that primarily work with corporate entities as they may not understand the needs of startups

If your startup has recently received funding or is experiencing an uptick in growth, taking on a financial consultant can help you transition smoothly as you grow.

Evaluating the pros and cons of taking on a financial consultant is a reliable first step that will help you assess whether or not your startup could benefit from an outside opinion and the services provided by a consultant. Luckily, as the startup ecosystem continues to grow, an increasing amount of finance experts are now expanding their skill sets to include early stage businesses in the digital age.

Friday, January 19, 2018

5 Smart Startup Funding Strategies

Guest article by Anthony Coggine, HR professional and business writer

Finding funding for your startup can be the most daunting task. In order to launch your company, you’ll need to raise the proper capital. But, where do you find people who are willing to invest in your idea? And, if you are able to secure funding, how do you determine the terms of said funding? How much of your company are you willing to hand over? How much control do you need? This guide attempts to answer these questions for you and help you form a plan of action for your startup’s funding.

There are many paths to funding your startup, but only one is the right one for you. Below are 5 smart startup funding strategies that may work for you:

1. The Self-Funded Startup
You may think that every successful startup courted venture capitalists. We see startups that secure hundreds of millions of dollars from large firms and giant tech companies, but seldom do self-funded startups make the news.

The truth of the matter is that not all companies requires millions of dollars in initial funding. A small online business owner may need only a few thousand dollars to begin their venture. If you’re startup does not require a large office building, proprietary technology, or a massive R&D team to start, then you might not need to sink an exorbitant  amount of cash into its first stages. In which case, your own personal funds can launch a new company.

2. The Crowdfunded Startup
If you need a large sum of money, but are still looking to bootstrap your startup, crowdfunding may be a great option for you. Mind you, the projects with the best funding have a great deal of digital marketing and advertising dollars pouring into their crowdfunding campaigns -- so you may need to still make a sizeable personal investment.

3. The Angel-Funded Startup
Perhaps the most alluring of all startup funding strategies. Angel investors truly are miracles. They give you the funds you need to start your business. What do they want in exchange? If they’re a true angel, then very little involvement past the initial investment. Angel investors of this kind usually take the form of family and close friends. Usually, however, the cash investment is low, typically no more than $10,000 to $50,000.

Angel investors outside of family and friends can invest quite a bit more into your business. But, that being said, their terms will be very different. Their involvement with your business could be rather extensive.

4. The Venture Capital Startup
The most impressive funding usually comes from venture capital firms. Attracting these large deals is difficult, and often, you must give up a portion of your company to secure them. By the same token, it is more likely that you’ll receive business coaching and mentorship.

If you’re company needs a large budget for R&D, this may be the only startup funding strategy that works for you. On the other hand, if you wish to have complete control of your startup from start to finish, this funding strategy will absolutely not work for you.

5. The Combination Startup
Often, startups don’t simply go to one funding strategy. Entrepreneurs will fund their projects with personal funds, money from family and friends, and acquired funding. You aren’t limited to just one strategy. In the very early stages of your company, you may use only personal funds. As things get further along, you may utilize crowdfunding platforms like Kickstarter and Fundable to reach new goals. Strategies change as your business grows.

Arriving at the right startup funding strategy can seem impossible. Weighing your options will greatly alleviate the stress of securing funding. Whether you chose funding your project yourself, crowdfunding your project, or turning to angel investors or venture capitalists, you should stick to what you feel comfortable with.

While there’s no way of knowing how interested others will be investing in your business, it’s important to retain your enthusiasm for your idea -- and you can retain that enthusiasm only if you proceed with what you believe is right for your startup. Examine your funding options, choose the best fit for you, and secure your funding in the way you see as best.

Sunday, December 3, 2017

Advice for Startups from Billionaire Money Manager Ken Fisher

The following informative interview was provided by Kenneth L. Fisher, founder and chairman of the money management firm Fisher Investments, former long time columnist for Forbes Magazine, billionaire on the Forbes 400 list, and author of numerous books. His latest book is The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!) Second Edition, which I highly recommend. (It is my favorite of all his books, maybe because it is so different from all the other finance publications. Resources include websites and suggested books. It basically tells you ten ways, with all the steps, to get really rich, including “marrying a billionaire.” Lot’s of insight and lots of humor.)
You may have seen him on TV commercials, or you may have spotted his magazine ads. Fisher is on the Forbes 400 list of richest Americans and the Forbes world billionaires list. According to Investment Advisor magazine, he is one of the 30 most influential people in the investment advisory business over the last 30 years. Fisher is considered to be the largest wealth manager in the United States.
We cover a lot in this interview, including:
  • What it takes to travel down Road #1 – Starting Your Own Business
  • The various roads to success and the roads he has taken
  • Bitcoin & cryptocurrencies
  • Whether or not we are still in a bull market
  • Stock market outlook for the next year
  • Annuities
  • Does age make a difference for starting your own business
  • One piece of advice for someone who is just starting out with their own business
  • And much, much more
Books by Ken Fisher
Here are some other books by Ken Fisher, which are worth checking out:
How to Smell a Rat: The Five Signs of Financial Fraud
(If you want to avoid getting ripped off, you really need to read this book.)
The Interview
You will certainly enjoy all this great information that Ken Fisher provides.
To stream the interview, click:


You can download as an mp3 by right-clicking here and choosing “save as.”
Enjoy the interview and Happy Investing!
All opinions are those of Ken Fisher, and do not represent the opinions of this site or the interviewer. Neither this site nor the interviewer nor the interviewee are rendering tax, legal, or investment advice in this interview.
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Monday, November 27, 2017

Entrepreneurship & Business Books on Sale

The following entrepreneurship, investment, business and finance Kindle books are currently on sale at Amazon (AMZN). Also, the hardback edition is for sale for some of these stocks, so they would make good gifts. If you are interested in any of these books, you should order them as soon as possible, because often these sales only last for just a few days.
The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!) Second Edition
by Kenneth L. Fisher and Elisabeth Dellinger
ten distinct roads, each with its own challenges and rewards, to wealth
Sale price $16.47 Regular price: $29.95
Procrastinate on PurposeBy Rory Vaden
five strategies for increased productivity
Sale price $2.99 Regular price: $9.99
#AskGaryVeeBy Gary Vaynerchuk
entrepreneurship, leadership, advertising on social media
Sale price $2.99 Regular price: $15.49
Performing Under PressureBy Hendrie Weisinger and J. P. Pawliw-Fry
how you can perform at your best
Sale price $1.99 Regular price: $13.99
Your Money or Your LifeBy Vicki Robin and Joe Dominguez with Monique Tilford
take control of your finances in nine practical steps
Sale price $1.99 Regular price: $13.99
Grit to GreatBy Linda Kaplan Thaler and Robin Koval
how grit, more than talent, luck, or intellect, has helped people rise to the top
Sale price $1.99 Regular price: $9.99
Cracking CreativityBy Michael Michalko
how to apply the techniques of successful innovators
Sale price $1.99 Regular price: $15.99
Perennial SellerBy Ryan Holiday
key to creating and marketing products
Sale price $1.99 Regular price: $13.99
Small Message, Big ImpactBy Terri L. Sjodin
how to craft and deliver concise, effective messages with maximum impact
Sale price $1.99 Regular price: $11.99
Difficult ConversationsBy Douglas Stone, Bruce Patton, and Sheila Heen
handling conflict in all areas of life
Sale price $1.99 Regular price: $13.99
Remember, these sales may not last long (hopefully, long enough by the time you read this post), so if you have any interest in any of them, you should act right away.

Saturday, October 7, 2017

Interview with Tim McGraw CEO of Cannabis Real Estate Company Canna-Hub

The following informative interview was provided by Tim McGraw, CEO of Canna-Hub, a California-based real estate development and property management Company for the cannabis industry. He is an experienced commercial real estate developer who has also designed and built cannabis specific facilities in several states and abroad, and has overseen cultivation, manufacturing, distribution and security of the largest cannabis operation in Illinois.
The discussion includes the following:
  • The changes to the marijuana laws in California on January 1
  • The growth of the marijuana industry
  • The best areas in California for cannabis real estate
  • Investing in a dispensary  versus growing and cultivation
  • Regulations involved in various aspects of the cannabis business
  • The viability of owning a warehouse and leasing it to a marijuana grower
  • Dealing with cities and counties
To stream the interview, click:


You can download as an mp3 by right-clicking here and choosing “save as.”
More information about Canna-Hub can be found at

All opinions are those of the interviewee, and do not represent the opinions of this website or the interviewer. Neither this website nor the interviewer nor the interviewee are rendering tax, legal, or investment advice in this interview. No solicitations of investments are expressed or implied. All information is provided for education and general information only, believed to be reliable, but not guaranteed.

Wednesday, October 4, 2017

Interview with Bob Bethel: Fail-Proof Strategies From the Man Who has Rescued 77 Businesses

The following informative interview was provided by Bob Bethel, an orchestrator of seventy-seven business turnarounds over the past fifty years. He has turned around companies in various industries—from restaurant chains to engineering firms—and has helped save over ten thousand jobs as a result of his strategic business counsel. He is also the author of book, Strengthen Your Business: Fail-Proof Strategies From The Man Who Has Rescued 77 Businesses, which takes a practical approach to business advisory rather than an inspirational one, focusing on the fundamentals of what makes a business profitable.

Topics covered in the interview include:
  • The primary causes of business failures
  • Things a business owner should do to keep a business from failing
  • Whether or not now is a good time to start a business
  • And much, much more


To stream the interview, click:
You can download as an mp3 by right-clicking here and choosing “save as.”
More information about the book can be found at
Strengthen Your Business: Fail-Proof Strategies From The Man Who Has Rescued 77 Businesses

More information about Bob Bethel can be found at


Saturday, August 5, 2017

All Startupers Need to Read Angel by Jason Calacanis

Are you an investor? Are you the founder of a startup? Do you work for a startup? Are you a venture capitalist that specializes in startups? Are you an entrepreneur? If you answered yes to any of these questions, you need to get the book, Angel: How to Invest in Technology Startups-Timeless Advice from an Angel Investor Who Turned $100,000 into $100,000,000 by Jason Calacanis.  

If you don't know who Jason Calacanis is, you should. He is one of the top angel investors in the United States, and hosts the Launch Fesitval in San Francisco, which has featured numerous startups. 

Calacanis has invested in such companies as Tumblr, Uber, Evernote, Robinhood, Thumbtack, and numerous other companies.

His book takes you through all the steps to become wealthy through startups, from evaluating new businesses, determining the risks and rewards, and building upon your angel investor relationships.

If you are interested in making money through startups, I highly recommend the book, Angel.