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Hi, All -One Big Life Radio Show

I was recently interviewed byLinda Coughlin, the owner of Paralelles.com, and host of the radio show, One Big Life, about the alternative small business funding options I work with and I would like to share that interview with you here

There are two other interviews besides mine on the  show but I am about mid way if you wish to fast forward to it.  Let me hear back from you once you’ve listened with any questions or suggestions for future interviews!

We did not have the time to cover all the questions I had been sent as possibilities for discussion, so I thought I would take my preparatory notes for the interview and share those with you here.  I figured if Linda had these questions, you might too!

HOW DID YOU GET YOUR START?

We did cover this on the show but I will recap here too.

I got the entrepeneurial “bug” about 12 years ago when I had my first business and have been looking for something I could really enjoy for this period of time. 

I found the cash flow industry in early 2003 and started out with the plan to deal with the leveraging of owner-financed real estate notes. 

I told an associate about the “cash flow” industry though, and he gave me a hot lead for a pipe fabricating company here in Louisiana with a large contract with Bechtel Corporation and we ended up doing $3million in accounts receivable factoring for it on my very first deal in this industry! 

So, I considered the fact that real estate and I were not really getting along with a lot of number crunching and this new area seemed so much more to my tastes that I would focus instead on accounts receivable factoring, purchase order funding and contract funding.

And for those still not sure what exactly the ”cash flow industry” is about - it is about helping a business to leverage its liquid assets to self-finance its own growth, expansion and daily working capital needs, without acquiring debt or giving up equity in its company.

Factoring of accounts receivable is the most commonly used tool in the cash flow industry.

WHAT IS THE NUMBER ONE REASON FOR BUSINESS FAILURE IN THE U.S. AND WHY?

Lack of working capital!  Cash Flow!  You’ve heard the saying, “Cash is King”, right?  Well, there’s a reason it is out there!  When you’re not able to  focus on your “business” and have to worry with cf issues everything suffers.  That’s true for us in our personal lives too, I think.  What is one of the number one reasons for discord in a marriage or personal
relationship?  Money matters.

Plus, even if you have a great product or service, to be able to produce or get it out there for your customer, you have to have cash flow!

These two, plus the first question below were covered on the show.  I will break this post here and continue on into a second one for the rest of the questions and answers I had prepared for this interview.

Until next post.  Debra

(Here’s the rest of the questions to follow.)

  • How did you learn about all the different funding options available to people even after banks turn them down for a loan?
  • Who are your clients?
  • In your years of experience, what observations can you make about small  businesses on the threshold of growth?
  • What is asset-based lending all about and how can it help?
  • What is the most important piece of advice you would like to give our listeners?

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