The Fremont Group would like to share a NYT article about non-bank sources of working capital – the cash needed to run your business while wating for invoices to be paid. New online lenders are proliferating, often extending credit based on invoiced revenue. One online lender we support is The Finance Store. Bank loans cause you to lose time and waste effort filling out miles of paperwork and then they leave you hanging on for a decision. Online lenders are much more flexible, leaving you to use your time most effectively – running your business.
On TFG’s Linkedin page, we recently commented on a kickstarter campaign which crashed and burned violently. Worst of all, the project could easily have been a success if only a few key actions had been taken.
Summary: The project was an affordable espresso machine for the home market. Founders just wanted to crowd fund a small production run of 50 units to be made by hand. In pricing the product, the founders discounted their labor to zero. When posting their project, they did not restrict the number of units which could be ordered. In the end, they found themselves on the hook for producing 2000 units. The project collapsed because the cost of creating and perfecting a factory production process was too high. No units were ever shipped.
Their key failing was not seeking advice on their plan from trusted advisors. At the outset, it would be easy to see the project could easily spiral out of control if demand exceeded the 50 units which could be produced. Thus exposing the project’s weaknesses before anything negative happened.
No matter how long you’ve been in business, there’s no excuse for this type of oversight. If you want an honest assessment of your business or strategy, schedule a free webinar with TFG. We’d love the opportunity to earn your trust.
The Fremont Group is proud to announce we have risen to page 2 of Google search results. This is great news for all the businesses in need of trustworthy outside help to boost their bottom lines. Being easier to find makes it easier to fulfill our goal: making top notch business consulting available at less than $10,000 per week on-site.
Check out The Fremont Group’s new brochure powered by flipboard. We’ve harvested some of the best content from the our website to introduce ourselves and save our readers from having to click though all the years’ of blog posts to get to know us. Let us know what you think.
Focus your company on attainable results
The Fremont Group is offering to business owners an opportunity to focus their company on attainable results. We will work with the owner to determine their goals and develop a financial and operational roadmap to achieving them. We then host your key people in two half-day sessions to get their “buy-in” to the implementation. We then follow up with you and your staff to facilitate the plan. The end result can be the development of a company Leadership Team that practically runs the business for you!
Most business owners have inherited their estimating program from past use, utilize “fudge factors” in costs, make no attempt to actually tie their estimating to their Profit and Loss Statement. If you want to run with the big dogs you have to get off the porch. It is not enough to simply buy a fancy estimating program if you want to achieve top quintile results as those programs cannot be customized to the real needs of your company.
Terminating an employee is never a pleasant task, but at times it is a necessary part of managing your workforce. Here are some steps you can take to protect your business against possible wrongful termination claims.
The Fremont Group is a non-profit organization with the mission to support small business owners. Persons who are familiar with SCORE, an agency established by the SBA to do much the same, is therefore familiar with us—with one difference. The Fremont Group can stay with you and provide much more intensive assistance than SCORE. To meet us, try a customize webinar. Contact us and together we will pick an issue. The issue could range from sales and marketing, to operations, to employee productivity, to cash flow forecasting, to creating and using your budget. Then we will develop a webinar customized for you to address this issue. Like what you hear and we can come in for a day and do a Business Assessment creating an Action Plan to take you to your next level. Best of all—the webinar is free! We want to help you—let us! Give us a call at 303 338 9300 today to talk about it—talk is cheap!
There is a Starbucks in your neighborhood—I know that because there’s a Starbucks everywhere. Walking by that Starbucks are two people. The first is a homeless person. He has 5 one-dollar bills, 3 quarters and a dime in his pocket. He looks into the Starbucks, sees the $4 cup of coffee and says to himself, “I really want that $4 cup of coffee but I don’t need it” so he walks on. The second person is a suburban house wife. She has lots of cash in per purse lots of money in her checking account. She looks into Starbucks and sees the same $4 cup of coffee and says to herself, “I need that $4 cup of coffee.” She goes in and buys it. Your business might be doing over one-million dollars a year in revenue. Unless you are a drug dealer you cannot imagine what that $1,000,000 would look like piled up on your desk. All you know is that you have a lot of money but you are frugal and only buy what you need. The problem is this: The difference between a want and a need is the balance of your checkbook and you can’t even really imagine how much money that you have! We all know people who as their income increases their expenses go up even faster. The cell phones, video games, big screen tvs—all those things that they only want they now think that they need and only because they have more income. You cannot run your business based upon what you want or need you must run your business based upon what you can afford!
The Fremont Group can now refer to you a financing program that will allow your client to finance your consulting project and their other needs. 48 hour response and 80% approval! Whether its working capital, unsecured finance, term loans, revenue loans, equipment finance, SBA, retirement funding or custom funding packages, your clients will receive fast approval and rapid funding. Many of your clients will qualify for multiple funding opportunities giving your clients their choice of options. We recognize the need for you, the advisor, to help guide your client/borrower in their selection of the type of financing best suited to the clients’ situation. Your clients depend on you for advice, strategy, compliance and planning and you may very likely be responsible for helping to pick one of the several options that will be offered. Their dedicated staff will assist you and your client in choosing the best funding or financing option.