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Tag Archives: business debt problems

1 Tip – Managing Your Interest Rate Risk in Business

Depending on how much debt your business carries, your exposure to changes in the interest rate could be high or low. The best advice I can give about the future of interest rates: Don’t believe the fortune tellers! If your banker says, “ We don’t see interest rates rising for a couple years."  - Don’t believe him. If the media makes... Continue reading

Rent Some Money to Make Some Money

Have you ever heard the saying, ‘you need a quarter to make a dollar’? What if your business has the opportunity to purchase $100,000 worth of new product that can be resold at a 35-40% mark-up? Why wouldn’t you buy it?  One reason you might not make the purchase is you don’t have an extra $100,000. Even if you have credit available, s... Continue reading

Slow Paying Customers

When a customer is tardy in paying their account, they typically get a lot of attention from you as a business owner. You might even call them up and ask how things are going and find out if you can help them along – so they can pay their outstanding account! But when a customer pays you right away, you tend to do nothing – except cash the che... Continue reading

Improving Business Owner to Banker Communications – 3 Tips

Bankers speak one language – business owners speak a different one – when they get together without a translator, the result is usually frustration. Here are some tips I have accumulated from over 30 years of being a translator. 1) Don’t assume that logic or reason are important to the lender – The most popular argument to a banker when ... Continue reading

Are You Like the Frog in a Pot of Boiling Water?

Are you like the frog in the pot of boiling water? It is a known scientific fact that if you take a pot of water and bring it to a boil and then take a frog and drop it in – guess what happens? It jumps right out. Surprised? I didn’t think so. It is another known scientific fact that if you take a frog and put it in a pot of water at room te... Continue reading