People who have been business owners for some time have definitive opinions on what it takes to run a business. This seems like an obviously self-evident statement but it's interesting to hear how they cope with competing philosophies.
A recent discussion with one experienced business owner involved accruing vast amounts of information available today vs taking action, and focusing on one objective vs tackling many concurrently.
On the first, he sagely advised to be careful not to let learning get in the way of action. Fair enough. At some point you simply have to say "I'll learn as I go" and be sure your pants-seat is reinforced. Similarly, regarding the second, he warned against lack of focus.
I countered this intonation with "what about 'not putting all of your eggs in one basket'?" He gave me a penetrating stare with a half smile and answered slowly "there is something to be said for diversification."
When I was presented the opportunity to change my life's direction several years ago I was not as unsure where my true calling was as I had been in 1975. I now knew that I wanted to utilize my experience and creativity in a way that blended my interests, if possible, on a perpetual basis.
This is one of the things I like about computers: it allows fusion of inspired realizations from different areas. I didn't want to compartmentalize myself anymore.
It was about this time that the phrase "small business is the backbone of the economy" began to permeate my consciousness; one of those things I'd heard for years without really listening to it, now speaking loud and clear.
Though there have been a few business owners in my family (as far as I know, for temporary periods) I never had the opportunity to talk with them about running a business. I was too young and/or perhaps they were too busy. I always got plenty of encouragement to stay in school though.
It so happened that there was a franchise expo in my city during this period that eventually led me to discover the Interface Financial Group: a 35+ year old network of independent franchises currently in Canada, the U.S., Australia and New Zealand, that provide working capital to small businesses by purchasing a percentage of accounts-receivables.
What a great way to make a meaningful difference and contribute a solutions for small-business owners, assets to the community. A SCORE consultant I spoke with declared the two most common and prominent concerns for small-business owners are on time payment and sudden growth.
In my last profession my satisfaction was in helping to craft and support software systems for a corporation and appreciation from the users of those systems.
Now, that could come by helping a business to continue growing in a more immediate way.
With all the current developments in small business lending I'm glad I chose to include this division in my business portfolio. Search engines return good info on "Interface Financial Group", although I'd qualify the term "factoring" used in describing IFG service since there are differences, such as not assuming contol of A/R operations and customer relationships, nor requiring long term contracts.
In addition, the service offerings have been expanded through recent partnerships for funding of different kinds, such as purchase order financing.
For a business that provides products or services for other businesses, is just starting and/or needing a faster turnaround on payments, or managing a growth spurt, financing by invoices can be just the answer.
So why did I get involved in internet marketing? I'll treat that in another entry.
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