482. Smart Financing for Small Businesses: Strategies and Tips for Funding Your Business
The Product Boss with Jacqueline Snyder
Jacqueline Snyder
4.8 • 961 Ratings
🗓️ 15 June 2023
⏱️ 25 minutes
🧾️ Download transcript
Summary
Hey Product Bosses! You KNOW we are passionate about helping you achieve your business goals, maximize profitability, and ultimately realize the dream business you've always aspired to have. Discussing finances, the impact of your business on your family, community, and potentially on a global scale is our favorite thing. And that's what we'll be focusing on in today's episode—money matters!
It feels like we've been talking about the possibility of an economic recession for years. Whether we're on the brink of a recession or not, amid inflation and other economic challenges, as small business owners, we need to smartly consider financing options. Many of us might not have had the opportunity to understand or leverage finances, especially in the context of running a small business.
More often than not, we start with our own cash. Both of us completely bootstrapped our businesses, investing our own money into our product ventures when we started. But, in this episode, we want to delve into smarter financing alternatives. It's high time we start operating like bosses and truly owning our businesses.
So, how do you finance your small business? We're going to provide tips and strategies for funding your venture. Whether you're just getting started or looking for some padding during the lean periods, or even if your business is thriving, we've got you covered. Particularly when your business is doing well, it's the perfect time to seek financing, as your financial statements reflect a robust, positive cash flow. Let’s dive in!
Brought to you by the Shop 1 in 5™ Pledge! Commit to making 1 in 5 of your purchases from a small business, whether online or offline. The Shop 1 in 5™ Pledge is a way to make an impact together when (and where) it matters most. Join us and take the pledge today!
Resources:
- Chase Ink Business Cards
- Capital One Venture
- Want a guide to over 308 business tolls and resources to help you effectively run your product-based business? Visit theproductboss.com/resourceguide to get this FREE download today!
Connect:
- Website: theproductboss.com
- Instagram: @theproductboss
Transcript
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| 0:00.0 | but there are literally grants for so many types of people in businesses, right? |
| 0:05.0 | And you can start to Google that. |
| 0:06.6 | So look for grants that are specific either to your industry, your geographic region, |
| 0:11.5 | or even something that you identify as or with and see what's available and apply for those because that's technically free money. |
| 0:20.0 | Welcome to the Product Boss |
| 0:25.1 | podcast where we're dedicated to helping product-based |
| 0:28.1 | business owners turn into revenue-generating successful |
| 0:30.8 | happy product bosses. I'm Jacqueline Snyder and I'm |
| 0:34.3 | Minakunlo Sita. Together through digital courses, coaching and |
| 0:38.5 | masterminds we've helped over 50,000 students from startup to multi-million dollar businesses scale their sales while |
| 0:46.7 | blending in their dream life. |
| 0:48.7 | If it gets lonely out there in the product business world, we fully believe a business shouldn't be built |
| 0:53.6 | alone there's room at the top for all of us. So let's get scrappy and creative |
| 0:59.2 | together product boss to be profitable make sales, and grow your visibility. |
| 1:04.8 | Are you ready? |
| 1:05.7 | Let's dive in. |
| 1:09.1 | Hi everybody, I am so excited. |
| 1:11.6 | Do you want to know why? Because this September HubSpot is having its annual |
| 1:16.1 | inbound conference. You know that we are so proud to be part of the HubSpot Podcast Network. |
| 1:22.1 | This September 5th through the 8th HubSpot is |
| 1:25.2 | hosting its annual inbound conference in Boston. They're bringing together so many |
| 1:30.8 | amazing leaders across business. |
... |
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