There are many ways to find money for your business or project. I will be talking about how to do that. No, I won’t be going with the ask your uncle for money. If you had an uncle who could give you the money, I am sure you would have done it by now. There are some new things happening that allow people to get money for projects. Some of it is bootstrapping but some of it is not. If you are frustrated trying to get the money together or every time you get the money together, something happens to take you off track, then you need to attend.
I will share with you one strategy that I will NOT be covering at the workshop. I appreciate you stopping by the page and want to give you value no matter what you decide to do. If you are already in business but need more money at your fingertips then consider this:
Sell Your Invoices to Improve Cash-Flow
It’s also called invoice factoring or factoring. Waiting for payment on goods already delivered can make a small business’ cash-flow tight. Using invoice factoring is an effective strategy to moderate the ups and downs of the billing cycle, yet only one fifth of qualifying businesses take advantage.
There are several types of invoice factoring, including debt factoring, which can help with salaries, tax payments and other financial demands on your business during the slow parts of the billing cycle.
Invoice factoring explained
Financing by invoice factoring similar to invoice discounting; it’s a business to business service leveraging invoices of sold goods to get cash now. Invoice financing, technically not borrowing, involves the financing business buying invoice receivables at a discount. Payment collection from the customer becomes the factor’s responsibility. By including a non-recourse clause in your agreement, they also take responsibility should the customer default. Be sure to deal with a reputable factoring company. They will be dealing directly with your customers.
How it works
Before your customer makes payment on their invoice, the factoring services company purchases the invoice at a discount, often 70-90 percent of full value. Once the factoring company collects from the customer, they’ll take an agreed upon service fee and return the balance to your company.
Why it works
There are several reasons invoice factoring is an effective option for your business.
You can receive immediate payment for invoices, better managing cash-flow over longer billing cycles.
Receive cash without effecting your credit rating. It’s still best to compare rates and charges to traditional financing options, like banks.Invoice factoring helps manage risk. you can pay bills and salaries on time, and have the cash on hand for unexpected expenses.
Moving collections to the factoring company gives you more time to work on money generating activities.
Potentially save money. Costs associated with invoice factoring can be more than offset by reducing your collection management costs, because the factoring company manages the process. Good’s factoring companies ensure customers pay on time, shortening the payment cycle.
Your ability to access more cash with invoice factoring grows as you increase your sales. As your invoices grow larger, your invoice financing increases. Stop renegotiating borrowing rates and credit limits with banks. By smoothing the ups and downs in cash-flow and allowing you to make payments when they’re due, invoice financing can decrease stress levels.
Let’s get you on the track to making your dreams come true. The Los Angeles Workshop is April 16, 2016 and ticket prices benefit the Celebrate Life Cancer Ministries.
There are so many great tools that are provided as an avenue to be able to assist people further in their pursuit of seeing their project and dreams come true. One such tool that is widely used, but also abused is that of Crowdfunding. Just like with all things it starts out great and then people misuse what they have access to. It is time for people to get an understanding on what crowdfunding is and what it is used for. You can grab my book on Crowdfunding entitled, “Get Crowdfunded Now,” for more details.
So many people are so quick to get funding and do not know how to get Crowdfunded Now the right way. There are so many things that I see that I had to address. It is time for people to act out of a state of integrity as it coincides with their brand and their brand message. What are you saying to your tribe? “Oh, I am going to say it is for a certain project and then use the funds towards something completely opposite of what you set the campaign up for. This happens. Also, trying to crowdfund for campaigns that are not going to make an impact such as (insert an example here.)
You have heard the quote used many times, one bad apple spoils the bunch. It is time to get serious about what your mission is. Don’t try to deceive your tribe of people by trying to crowdfund when you don’t even have the knowledge of what it means to crowdfund and what all is entailed. Ever wonder why so many campaigns are not even done successfully is because they do not truly display what the intention is. Before you start crowdfunding connect with me so that I can ensure that you have the basis on which to start and have a successful campaign.
There are people who have an idea of something that has the potential to really change things and benefit other people. Act with honesty and integrity so that a good resource won’t be ruined. Is what you are trying to accomplish going to impact other people or are you doing to manipulate for selfish gain. There is always the right way to go about doing something and trying to find a way to alter the original intent of crowdfunding is misleading.
For more information on ensuring that you are crowdfunding the right way go to http://www.wrightplacetv.com/speak for an appt with Dr. Wright.
Or get my No-Cost Crowdfunding Resource Guide at www.getcrowdfundednow.com
It’s not enough to be a great athlete; you must take the opportunity to promote your brand. Shows are a great way to do that. Even if you pitch and they don’t use you, you will be part of their database. That is what makes every pitch a home run. Unless you are clearly NOT a fit, you are in the database and have a chance that you will get a call. And when media calls, you show up.
Below is a real show looking for BMX-ers. You can pitch if you are a good fit, if you are not a good fit, you risk getting banned from their mailbox forever!
Go for it!
REAL BMX-ERS AGES 18-25 WANTED
CASTING TV COMMERCIAL!
We are searching for REAL BMX-ERS (ages 18-25) who are in the Bay Area to be featured in a television commercial!
MLB (Major League Baseball) is now casting a commercial for opening season, and is looking for the following types of people:
Male / age 18-25 / All Ethniitites.
MUST BE REAL BMX ers – urban male young adults. Submit by yourself, or with a group of 4 to 5 of your friends.
*MUST SEE BMX VIDEO FOOTAGE and any BMX pics!
CASTING IMMEDIATELY – SUBMIT NOW! (Submissions deadline is Friday, Feb 12th at 1pm.)
Project: MLB Commercial for TV and web (in perpetuity usage, though probably only used for two opening seasons)
Location: Shoots in Bay Area – you must be here, or get yourself here, to be considered – no travel will be paid (except for Snowboarders to Tahoe for the shoot).
Shoot: One day only, between February 17th – 19th, 2016.
Pay: $500 per person for the day. Usage: in perpetuity, TV/web commercial with possible stills.
email ALL the information requested below to:
Be sure to include:
1. Your name (first and last) – or all your names if submitting as a group
3. Contact phone number
4. A brief description of your experience and skill level (for the group if submitting as a group)
5. Clear photo of your face, and pictures of you BMXing
6. You MUST submit VIDEO of you engaged in your activity (via YouTube, Vimeo, Dropbox, etc.)