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7 Keys to now When Raising Joint Venture Equity

Finding Joint Venture Equity has always been one of the most difficult things to do. To help you along with this process, we thought we would share an article that was written by one of our strategic partners.

Article by, Brent Virkus of Find the Capital

Look we all know raising joint venture equity is not easy. This is actually a good thing. Because if it were easy, everyone would raise capital and start a business, buy commercial real estate as an investment, etc. Competition would be ferocious.

For this article, I’m going to focus on raising joint venture equity for your business. So to better help you with this process I’ve put together the 7 things you must know to raise joint venture equity today.

 

First…and Most Importantly Have “Thick Skin”

When raising joint venture capital, be prepared for a lot of “no’s.” Using my Google example, even when Google was ready for venture capital, the majority of venture capitalist said “no.”

When an joint venture capital says “no,” it doesn’t necessarily mean that your venture is not a good one. It simply means that the venture is not a good investment fit for them. You must have “thick skin” and be able to bounce back from lots of “no’s” and persevere.

When failing over and over again to create the light bulb, Thomas Edison famously said, “I have not failed. I’ve just found 10,000 ways that won’t work.” Have the same mentality with investors. That is, think, “I have not failed. I’ve just found 100 investors that aren’t a good fit.”

 

Second…Make Sure you do a Business Plan and Keep it Current

One of the most important things to show in your business plan is what you’ve accomplished in your business to date. And ideally, every month you are accomplishing more. So, be sure to update your plan with this progress.

 

Third…Always be a Master Marketer of your Deal

In raising money, the best company doesn’t always win. Rather, the guy that knows how to best market his opportunity wins. That is, the entrepreneurs that are best able to market their companies to lenders and investors are the ones who raise the money.

 

Fourth…Understand That Funding Doesn’t Take Place All At Once

No matter how great your project or idea is, you are probably not going to get a $20 million check right away. Rather, you will typically raise several “rounds” of capital.

You start with a smaller round or amount of funding. Then, as your business grows, you are eligible for larger rounds of funding. This is because your business proves itself over time and your valuation rises as you grow. This enables you to you to raise larger sums of money.

 

Fifth…Choose the Proper Source(s) of Capital Funding

Choosing the right source of funding is the key to Find the Capital’s success at raising joint venture equity. Some forms of funding are much easier to raise than others. And based on your stage of development, different forms of funding are more relevant.

To be specific, the funding sources available to a pre-revenue startup are very different than the sources available to a 3-year old company generating $1 million in annual revenues. For example: Google initially failed when it tried to raise money from venture capitalists. The key is to go after the right sources of funding at the right time.

 

Sixth…Build your Joint Venture Capital Source Relationships Early

The bottom line is the perfect entrepreneur/joint venture relationship is one where each has established respect and trust with the other well before an investment transaction is broached.”

The key is to build these relationships early. So, even if you don’t qualify for a $5 million round of joint venture capital today, start meeting with capital sources so they are more familiar with you when you do qualify a year from now.

 

Seventh…Don’t be Afraid to Change

While you must have “thick skin,” that doesn’t mean to be foolishly stubborn. What I mean by this is that if you hear the same feedback from capital sources over and over again, you shouldn’t ignore it. Rather, you should adapt.

For example, if several prospective investors tell you they want to see a sample of your product or service before considering funding you, do what they asked for and create it for them. Don’t just plow forward with contacting more and more investors in this case.

By adapting to the needs of joint venture equity partners, particularly when you hear the same feedback multiple times, you can make the requisite changes to raise the money you need.

 

How Remote Business Consulting is Changing Business

10 YEARS LATER : HOW REMOTE BUSINESS CONSULTING IS CHANGING BUSINESS, Article by Ren Carlton

I own a car.

In fact, I own two. But I don’t tinker with my own vehicles. Mostly because I can’t afford the tools, the time or the brain-power to know what is needed across two Makes and Models. Not only that, but I am so used to my own vehicles, and the way they run, that I overlook glaring issues any new observer might easily recognize.

That is why I take my cars to a mechanic.  

Now, you probably think that everything is running smoothly in your small business. You might be right. But even a well-oiled machine still needs a mechanic to run diagnostics, check levels and red line it for good measure. After all: how do you know that you’re headed in the right direction for the fiscal report? And are you sure the Six Sigma launch you had that potluck around has really made a difference? No matter how well you think you’re doing: you need a check-up.

That is why you need a business consultant.

Business Consulting is like car maintenance. For over ten years business consulting has been a staple in any company worth its weight. The Consultant is your mechanic. There to fix and prevent process issues. But more than that: they should make you more money. A good mechan—er, consultant will bring changes that translate into a fatter bottom line… But don’t go hiring any old Schmuck in a suit. Read on.

Despite a good run since ‘03, there was a plateau in business consulting about 4 years ago, mostly due to costs and office politics (It seems businesses don’t like tinkering on themselves). Internal consultants and managers are too close to the problems to effect real change. This produced lack-luster results, causing business consulting to level out in 2009 (along with everyone’s 401k…) when companies were scrutinizing every penny.

Another thing that makes having an internal business consultant a gamble is that there is no way to quantify their profitability. Another person on payroll can easily get lost in the shuffle come payday. Not to mention: certain companies were nothing but consultants. And we all know how that crooked E made everyone a little wiser if not a little more fearful.

By now you’re probably saying: “but I thought you said business consulting was a good thing?!” And it is. Only; not in the form it has been in the past. After 2009 internal consultants thinned out. But the ever-present need for checking under the hood brought the next wave in consulting: The Remote Business Consultant.

Having a remote business consultant is like having a dealership mechanic come to your garage.

The consultant from outside can see things that you and your team can’t. He or she is above the cultural radar; so corporate politics and office issues won’t skew the results of their work. A remote consultant can bring change management assistance, they can better implement new technology, bring a host of new methodologies and a fresh perspective all to help your business become more efficient and profitable. And best of all: as with most contractors you can tell where they have earned their keep.

If you want to learn more about business consulting or get your engine checked out; go to www.CFOAsk.com.

CFO SERVICES – GROWING YOUR BUSINESS AND MAKING MORE MONEY

Article by, CFO Service

You are an entrepreneur; a forward-thinker. A doer. You own a company. It might be small, but it’s growing. You are doing great, right? But could you be doing better? If you are the owner of a small or mid-size company and you aren’t using CFO services, you are probably missing out on ways to grow your business faster and make even MORE money.

WHAT ARE CFO SERVICES

CFO services are financial management activities that enhance performance, facilitate growth, and improve profitability.  Specific CFO services include strategic planning, financing, forecasting, risk management, etc. These services are typically performed by a CPA with significant industry experience.

BUT I HAVE A CPA FIRM. I DON’T NEED CFO SERVICES

CPAs are NOT CFOs and they are usually only telling you where your money is going; not how to grow your business or make more money. You typically use a CPA to create financial statements, prepare tax returns, and a host of other valuable services. They are crucial to a well-run business but they are typically not going to grow your business or help you make more money.

BUT I HAVE AN ATTORNEY. I DON’T NEED A CFO​

Your attorney’s main job is to make sure you don’t break any laws or get sued. Most attorneys are NOT going to tell you how to expand, grow, or further monetize your business. Do you need an attorney? Of course. No one wants to make crucial legal mistakes. But an attorney doesn’t take the place of a CFO.

CPAs and attorneys are both – generally – conservative. It’s likely neither will actually TELL you how to make money.

SO HOW DO I KNOW I’M READY FOR CFO SERVICES

The answer to this question isn’t a one-size fits all. Some businesses need CFOs early in the game and others can wait.  The real question is are you growing fast enough and making enough money?  If the answer is no, a CFO is probably the solution.  But for most small businesses, when you are ready for a CFO, there might not be money to hire someone full-time. So how do you have a CFO but not pay out the nose?

There are a number of companies that specialize in CFO Services (see www.dynamicadvisorysolutions.com). These companies pair financial experts with business owners in need of financial and accounting help. If you need more expertise – if you need a CFO – you can typically have one at your fingertips for a low monthly fee.

4 WARNING SIGNS YOUR BUSINESS COACH IS LEADING YOU INTO DISASTER

Article by Business Coaches,

Did you know that your business coach could be leading you astray without you even realizing it? That’s OK, it happens — but here are the top *4 Warning Signs Your Business Coach Is Leading You Into Disaster* so you can break the pattern before it gets worse:

1. You’ve teamed up with a drama queen.

Not everything is a reason to “sound the alarm, the ship is sinking!” You need a cheerleader _without_ all the drama. Consulting jobs were created to match small business owners with someone who could offer expertise on growing the business; coaching jobs match the small business owner with someone to help maintain focus and provide purpose. If your business coach is turning every situation into a three-ring circus, you may be getting distracted from growing your business as much as you could be — and paying for services you don’t need.

2. You’re getting billed up the wazoo.

If you find you’re receiving too-frequent bills from your business coach, it may be time to say good-bye. Sure, you’re going to have bills because you _are_ getting a service — but those bills shouldn’t be trumped-up charges because of all the exaggerated situations your melodramatic coach just HAD to rush in and solve. Accounting jobs are about maximizing your monetary potential and saving you from making costly mistakes – NOT putting out the flames of a dying fire. Make sure you aren’t getting billed for things you can do yourself. Unless…

3. Your coach is the jelly to your peanut butter.

Meaning, your business coach has trained you to think you NEED him or her to survive. Sure, your coach makes things a bit better for you, but just like a peanut butter sandwich is good by itself sometimes, so are you! When you have a business, accounting jobs are vital. But if your business coach is leading you into a co-dependent relationship, it’s time to reevaluate things…or run away.

4. You feel like you’re lying on the couch while talking to your coach.

Sometimes, having a business coach is like going to a therapist. You discuss your issues and determine what your roadblocks are and how to get around them. But if you spend too much time with your business coach wailing on the couch, you’re getting the short end of the stick. You’re paying for a business coach and consulting jobs shouldn’t cost you what it would to sit on the couch at your shrink’s office. Don’t waste your money.

Time for a new coach

For additional tips finding a new business coach and other accounting jobs and consulting jobs, visitwww.CFOAsk.com.

Accounting Jobs – How to Stay on Top of Technology So Your Age Doesn’t Hold You Back

Article posted by Accounting Jobs

You are seasoned, talented and have impeccable references. But as an accountant in your 50’s or older, you can’t find a job. It’s easy to blame your age. But what might be holding you back from accountant jobs could be as simple as your resistance to change-especially with new technology.

Walking into an interview with an outdated flip phone or blanking when a recruiter asks you about the latest app could be red flags that you are behind the times.  And if one thing is certain, when it comes to accounting careers, those who can’t change and adapt to new technology don’t stand a chance.

So what can you do?

Here are the three things you can do TODAY to increase your tech IQ and wow a recruiter when you are interviewing for YOUR job in accounting.

1. Beef up your resume to show you are not scared of using Outlook or other popular problems and software brands

One thing that can screw you in an interview is to look unprepared or uneducated about the latest software trends. And if you act like Outlook is too difficult or frustrating to use, potential employers will wonder what other concerns you intend to cut.

2. Increase your knowledge of the latest Web sites, software products, search engines, new software, CRMs-in other words, SPEAK THE LANGUAGE

If you don’t know the lingo, you are going to look like a dinosaur when interviewing for an accounting job. Take a class or pick up a trade journal or magazine. LEARN what those young pups in college or business school are talking about and make these tech trends part of your life. Remember, there are plenty of accessible and free or low-cost options to train yourself such as watching YouTube videos or taking lessons at the Apple store.

3. Get a smart phone

Maybe you are happy using an outdated cell phone to call or text, but if you don’t know how to harness the power of a smart phone, it puts you at an immediate disadvantage. People in their 20’s and 30’s with jobs in accounting know how to use their smart phones to get ahead. If you aren’t on the same page, you won’t have an edge when interviewing for accountant jobs. Visit the Apple store or a cell phone store that sells Android phones. Ask questions. Read a blog or two on the best apps. Upgrade your phone…and consider buying a tablet as well.

When it comes to careers in accounting, the best way to stop looking like you are out of the loop is to get IN the loop.

 

How To Hire The Right Social Media Consultant For Your Business

How To Hire The Right Social Media Consultant For Your Business

Article by Ren Carlton

Hay There Social Media/socialgig™ Blog

“Social Media Consultant” SEO

So you’ve realized it’s vital for your small (or large) business to maintain a consistent presence on social media — and you’ve also realized it takes a bit of work to cultivate an organic online relationship with your customers. With all the digital marketing campaigns taking the ad world by storm, you know how important it is to invest the time and resources into creating a social media marketing plan. That means it’s time to hire a social media consultant to “speak” for you online!

Most people use social media sites like Facebook, Twitter, Instagram, YouTube, Yelp, LinkedIn regularly and are familiar with them — but social media marketing for a business and posting about family dinners are vastly different. How do you know you’re hiring the right social media consultant for your business?

Here are 3 Things to Look for in a Social Media Consultant:

1. How good is their social media presence? How active are they? Are they online once a week or once an hour? Generally, the more time spent on social media marketing tactics, the better to learn and to promote. For your social media consultant to know how to promote your blog, they need to know the best audience and determine a social media strategy for the ideal ways to spread the word.

2. Do they know what they are talking about? A good freelance writer knows how to effectively break subjects down into understandable terms — and should know – the subject before attempting a writing project. If they don’t fully comprehend the ins and outs of your business and/or product, a freelance writer may not be able to make the leap and create the best social media strategy for you.

3. Do they have a proven track record of success? As with any business venture, you need to see previous results of digital marketing accomplishments. Did they come up with some great grand opening ideas and promotional giveaways to boost business? Your social media consultant should prepare a concise social media strategy to help you promote your business, with traceable metrics to show how the social media marketing plan is raising your online presence and developing authentic relationships with fans and followers.

SOCIAL MEDIA CONSULTANTS

Are you looking to hire a social media consultant — or are you looking to be a social media consultant? Check out socialgig™  and post or find a gig today!

Benefits of CFO Staffing: Investments, Cash Flow, Supervision and Budgeting

Benefits of CFO Staffing: Investments, Cash Flow, Supervision and Budgeting

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A CFO or Chief Financial Officer is usually second-in-command after the CEO or Chief Executive Officer.  Here at Dynamic Advisory Solutions, we try to meet your financial needs without the necessity of a full-time commitment.  If you need high level financial advice only a few times a month, or if you’re just looking for someone who can train the people you already have with regard to financial matters, we can fulfill that need with CFO staffing.  Here are some More

What Does Golf Have to Do with Internal Control?

What Does Golf Have to Do with Internal Control?

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Last month I had the chance to attend the US Open. Everything was great, the weather was perfect and I was ready to sit back and watch when I realized one thing: they had to take my cell phone away from me. The first day I complied, I begrudgingly gave up my cell phone to the men at security and stepped through the metal More