Are you ready for a LARGER Store?

Considering a new building or buying out your partner? Explore SBA Loans. Often MI owners don’t have a barrel of spare cash hanging around. Their wealth is locked up in the business. So, when there is a need to write a large check, owners need to get creative and ought to consider the U.S. Small Business Administration (SBA), as a resource. Let’s look at two examples. Scenario #1:  Manchester Music Mill. Let’s say you’re ready to expand your music store by purchasing a new building. Consider an SBA 504 loan which provides fixed rate financing for major fixed assets, such as land and buildings. SBA 504 loans are made available through Certified Development Companies (CDCs), SBA’s community-based partners for providing 504 loans. In 2013 Joe Lacerda, owner of Manchester Music Mill, had an urgent need to purchase a building to meet the ever-expanding needs of his customers. Check out my August…

Continue Reading

First MI Retailer Financial Outlook Survey.

While reading the headlines in my Bloomberg feed I quickly read the letters NAM regarding a survey. After my double take thinking this was a NAMM sponsored survey, I discovered the article was actually referring to NAM, an organization I never heard of. “The National Association of Manufacturers* (NAM) poll for the second quarter of 2018 covered 560+ executives of varying sized firms. NAM reports that its survey reveals an “astounding 95.1 percent of manufacturers registered a positive outlook for their company, the highest level recorded in the survey’s 20-year history. Additionally, expected growth for investments, hiring and wages is reaching historic highs.” After reading the piece I was inspired to get a sense for  how MI retailers were feeling about the balance of 2018. So I created a survey with only one question. ( I do hate long surveys). "Please tell me on a scale of 0 to 10, if…

Continue Reading

KPIs. The Secret Sauce to More Value & Profit.

Excerpt from my July column in MMR. Peter Drucker, a leader in the development of management education, promoted business value as the primary goal of a firm. Business value expands the concept of value beyond economic value (like profit) to include non-financial aspects of value like owner aspirations, employee talent, customer/supplier relationships, and process & data. Key Performance Indicators (KPIs) are the instruments business owners use to understand the organization’s overall financial health, a prerequisite for making better financial decisions. To read my July column in MMR, CLICK  here.

Continue Reading

Selling Your Business? Stay In control.

Excerpt from my June column in MMR. Making financial decisions has never been easy for business owners. When given a choice, the tyranny of the urgent usually wins over the severity of the important. Imagine there are two problems you can attack. The  first one involved a rental instrument being issued to the wrong student. You figure it will take about 45 minutes to straighten out the mess-annoying, but you can handle it.   To read my June column in MMR, CLICK  here.

Continue Reading

Curing Financial Pain

Many of the financial decisions we make may not be aligned with our true values. As a result we become trapped with negative feelings like, shame, envy, anger, fear guilt, jealousy, anxiety, sadness, depression and despair. In Kinder's book "Lighting the Torch," he asks three profound questions, which if answered honestly can lead you to a more fulfilled and happier life. To read my May column in MMR, click here.

Continue Reading
Close Menu