Month: October 2019

Are You Really A Real Estate Investor

Entrepreneur blogger

By accident, I believe that our industry does us all a disservice. How? By calling us real estate investors.
How many of you call yourselves real estate investors? Lots. How many of you feel a little queasy when you introduce yourself as a real estate investor? (No need to confess you just need to recognize that feeling).

Do you want to know why you may be feeling queasy? I’ll tell you. It’s because of the incongruent language we are using on ourselves. Let me prove it while helping bust the number one fear of real estate “investors”.

What do you think of when you hear the word investor?
I bet it’s “cash” or “credit”. Right? Maybe something that you feel that you don’t have. So if your business card declares you a real estate investor and you don’t have any cash, do you feel funny, or out of integrity, or incongruent? Maybe a little?

On the other hand, what do you think of when you hear the word entrepreneur? The answers to this question usually range from “opportunist” to “opportunities” to “ideas” to “deals”, etc.

The definition of an entrepreneur is someone who uses the time, talent and treasure of other people to realize their idea or vision. Read that again because this a subtle but important point about your real estate success.

The number one limiting belief of real estate “investors” is “I cannot do this business because I have little cash and/or bad credit.” And if your subconscious holds this belief, guess how hard you are going to work to find deals. Guess how many deals your are likely to do. That’s right, you will do ZERO.

Good news! This limiting belief is easily busted.
You are not a real estate investor. You are a real estate entrepreneur.

What’s the difference? Well, entrepreneurs bring the deals to the money. Investors bring the money to the deals.

By DEFINITION, entrepreneurs are not expected to use their own cash. They are expected to raise cash for their deals and projects. That’s what we do. We find the one thing that is much more valuable than the cash which is the deals.

Money is easy. Finding the deals is the part that requires a little work. But most real estate “investors” get hung up in marketing or making an offer because they don’t have the cash sitting in their checking account. They freeze.

You need to declare yourself a “Real Estate Entrepreneur.” That’s what I do. At this stage of my life, it’s more fun being the entrepreneur and putting deals together. It’s my form of creativity. It’s my art. Being the investor and putting up the cash is OK but it’s kind of like being the guy that furnished the paint to Michelangelo. Nobody remembers the paint supply guy.

I urge you to adopt 2 new affirmation(s):
I am a real estate entrepreneur.
I am leveraging the time, talent and treasure of others.

Penny Chenery, The Entrepreneur Behind Secretariat

Entrepreneur blogger

Some Thought That Secretariat Was A Film Just about Race Horses

I finally got a chance to view the film Secretariat. In general I believe it really is tough to create a good movie when everybody knows how its likely to end when they walk into the theater. Therefore my hat’s off to the folks that made this movie it was a great one. I expected a fun movie about horse racing and the incredible will to win from the horse.

But what actually got my attention was the entrepreneurial spirit belonging to the owner. Penny Chenery, is an amazing entrepreneur who was willing to do whatever it took to hold on to Secretariat and ensure that she was in a position to be an integral part of her horses legacy. For me the scene in the film that explained it all occurred right after her father had passed away.

The family was going to lose the ranch because of inheritance taxes and needed to get $6M to cover it. Her whole family wanted her to sell Secretariat, except she refused. This scene showed the difference between a pragmatic business person and an entrepreneur. As pragmatic individuals, all they had to do was sell the horse, they could have kept the ranch and had money left over to keep it going.

But Penny was all in, she believed she had a winner and was prepared to risk everything because her belief was so strong. She might have lost it all if she was wrong. We all know how it turned out. But this is a superb illustration of what it truly requires to become an entrepreneur. So for anybody who is pondering whether or not you’ve got what it takes. Place yourself in Ms. Chenrey’s shoes and ask yourself, could you have risked losing the whole thing to gamble on your dream.

Entrepreneur’s Have To Be Sure

If you are not certain which way you’d go on this one, perhaps you are not able to be an entrepreneur. There is nothing wrong with that, but better to recognise ahead of time and not take risks which you could’t follow through on.

By the way, there is one added part to the story, that also showed what sort of an entrepreneur Penny Chenery actually is. Once she decided to go ahead with her plan to raise the cash to race Secretariat, it did not go well. She failed practically every time to get investors on board. Except she kept going and going until she finally was able to crack the code and once she did, she raised over $6M and was able to race the horse. Ask yourself, what number of telephone calls would you be ready to make once you got rejected again and again, till you gave up.

Entrepreneur’s Focus On Winning The Race

It did not get any better for that Secretariat race team, when he lost a necessary race just prior to the Kentucky Derby. Thus, another chance to throw up their hands in defeat. But again, because of their unwavering will to succeed, they pushed forward and, well, you already know the rest.

The bottom line here is that difficulty and problems are a part of what it takes in order to be a successful entrepreneur. You also have to dust yourself off and get back on the horse (sorry for the bad pun), no matter what. If you can’t take the Penny challenge, then you should run, not walk away, because you are not meant to become an entrepreneur.

Market Street Funders Expands Access To Alternative Lending

Entrepreneur blogger

One hundred business owners walked into a bank. Eighty left empty handed.

Thanks not a joke. Its a stark reality of how the financing world works in 2015.

Traditional bank financing is a great tool for growing your business but we do not live in traditional times, and even as the American economy improves, access to this financing does not seem to be getting any easier. When traditional channels are no longer an option, the world of Alternative Lending is an excellent choice. These lenders offer competitively priced products, fast turnaround times, transparent terms, and require minimal documentation.

Market Street Funders offers a fast, free search for business owners to find business financing. MarketStreetFunders.com helps businesses identify the right type of capital needed and then matches them with lenders eager to work with the business. Lending options include:

Business Advance Short term working capital matched to future revenue. Repayment is made through small daily drafts. Requires the least amount of documentation and funds within days.

Business Loan Traditional loan product for larger amounts or longer terms. Simple interest loans with no prepayment penalty. Requires greater documentation and a slightly longer approval process.

Factoring Solutions Ideal for businesses with large purchase orders, invoices, or accounts receivables. Get paid immediately on invoices and purchase orders or turns accounts receivable into cash.

MarketStreetFunders.com was developed as a solution to the existing business financing search ritual, which many business owners find to be inefficient, while at the same time, rarely leading to the most competitive offer. Concurrently, traditional, bank-originated small business lending continues to be on the decline: the unmet demand is estimated at $80 to $120 billion per year.

The companys proprietary process leverages technology, deep industry knowledge and existing funder relationships to provide a fast, competitive and transparent growth solution for entrepreneurs. Most funding solutions will have a 3- to 18-month repayment period, with some loans up to $1,000,000 and 60-month repayment periods. Commissions are transparent and there are no origination fees.

Market Street Funders co-founder and CEO Tom Abel said, Today, when you want to buy a plane ticket, you dont call the airlines; you go to a search comparison site like Kayak or Expedia to find the best price. Market Street Funders provides the same kind of one-stop shopping for business loans and funding. Within hours of completing an application, business owners can compare financing offers side by side.

There are minimum qualifications to apply. A business must be at least six months old and have $8,000 in monthly sales. The online application requires some documentation; typically a few months bank statements. Approval and pricing are based on the strength of a business, cash flows, predictable revenue streams, historical performance, and other common sense factors. Funding solutions can be tailored for a variety of purposes, including inventory and purchasing, working capital, marketing, expansion, renovations and repairs, and hiring.

Co-founder and COO Erik Williams added, As entrepreneurs ourselves, we have first-hand knowledge of a sometimes untapped business culture of ingenuity and innovation. Our singular mission is to match entrepreneurial passion with the capital necessary to fuel it and make the process simple.

Prior to founding Market Street Funders Tom Abel was the Chief Operating Officer of Swift Capital, a recognized leader in the alternative lending industry? He also served as Executive Vice President and Director of Small Business Banking at MBNA America and later Bank of America. Abel is a small business owner, entrepreneur, and stakeholder in several early stage ventures.

The Concession Trailer Business

Entrepreneur blogger

Either yow will discover concession locations yourself, or possible employ a advisor to search out concession trailer locations for you. Nevertheless it really should not be hard to find a site, you must always consider that you need a good traffic flow from the spot. You could choose a parking lot of another business or maybe a annual event location for concession. When you finally stumble on your site you may talk it over with the proprietor of the property and learn more about it and whether or not it works for you. Once you have checked multiple locations it is advisable to improve at discussing the function of your organization and the way it will help the business you’ll be placed out of. It is very important tell the owner of the property that your concession trailer won’t interfere with the deals of their business but add on to the present income.

It is possible to locate innovative ways to locate concession locations, whether youre paying the location proprietor a bonus, fee, or simply paying out a monthly rent. It will not harm to even partner with a commercial land owner for your concession business.

The business of starting a top notch concession trailer business is critical. Lots of individuals fail to see them as the most hygienic industry so you will need to change their outlooks on this. In the event you give an incredible first impression then it is more possible they will come back to your location and give good input to other people. This is very important as it creates a word of mouth business that may prove far more effective than paid advertisements. The concession trailer business is no unlike than any other business and should be addressed as such. You must show your prospects distinctiveness together with your food that will bring them back to your concession stand again and yet again.

The ideal place for the concession trailer will exhibit your position and give a personal touch to it. It doesn’t hurt to possess outside seating and shading for it so that your consumers can relax with their cooking. Aim to be individual with your visitors as they’ll feel welcome and want to visit with you rather than your competition.

So you do not need to just accept any concession setting. You need to craft educated judgements before jumping into any prospect. Aim to make a listing of all the benefits of every spot you discover and weigh the pros and cons of all.

If you have a already made a business card then you could hand these out at prospective concession trailer locations and expect the interested ones to contact you. Although the best process in my opinion is personally encounters. This way you can talk you strategy out with them and converse how it’ll help their company. You should always make this your selling point since it will be one of many top reasons why any company landlord would enable you to locate in their lot.

Once you have originate the right location for your concession trailer then it is time to scout out more areas. By this point you ought to be good at finding and finding first-class prospects for the concession business. You must have the right flow of traffic at your current spot and be identifiable being a concession trailer business.

Now that you are identified on your concession business will probably be simpler to drag in additional areas. Beginning as an nameless may are less tempting for some commercial property owners but that is now in the past.

A first-class concession trailer sale tactic is building your repute as a quality food concession entrepreneur. After this is ended then it the opportunities will come flooding your way. Now all that is left is building your buyer foundation and keeping them there to your top notch concession food.

Keeping your potential customers coming back to your concession trailer time after time will probably be undemanding once you have revealed your niche. You need to different yourself from the rest of the crowd. Your mobile and others are not, so that is already in the benefit. Discover the distinctiveness that brings them back again and for a second time. Whether this is with the food that you’re serving or the ribbons that are scattered over your concession trailer. The choice is yours and yours alone.

It is all about display, and that may stand for countless things.

Your concession personnel and prospects is usually a great supply of dreams. It doesn’t hurt to consider advice from anyone that’s willing to provide it to you. It is simply up to you to get what works for you then run with it with your concession business.

As you test out new features you could ask your customers for opinions and even offer free concession food for their trouble. This is an incentive for their time and they will greatly appreciate it and that in it could benefit you. The concession trailer business is a lucrative one and can show great profits for the entrepreneur that is prepared. Check with us often and with our concession resources for more information on how to succeed.