Successful Strategies

Ben Yoskovitz lists the 10 common questions investors will ask. Whether you're a startup or needing working capital to grow your business, knowing the answers to these questions will help you stay focused and be prepared to talk with a financial institution. However, we rephrased the questions for the company that needs working capital -- not startups:

Instigator Blog provides five simple and powerful tips for making the most out of pitching to investors for a startup. These tips also apply to seasoned businesses looking to raise working capital.

Here are his five tips with my notes.

This story from Crain's Detroit Business shows how companies find other ways to succeed during difficult times. If your company provides a service and the economy forces a rate cut, what do you do? Reliance One doubled its sales in 2007 and expects to up them by 56 percent this year.

Margaret Heffernan's How She Does It shows that successful women entrepreneurs have one thing in common: money isn't the main driver for running their business. Many do it for the passion. However, this doesn't mean they shun spreadsheets and ignore the numbers. They do the opposite -- women owners know their numbers as well as any other executive.

This Dallas Morning News article (may require free registration) confirms the trend that many businesses look beyond banks for loans. The article features a business that wants to expand its inventory after four years of steady business. The owner says that he tried going to banks, but they don't pay attention to a business' success.

Small businesses don't always have the luxury or resources to build a strong sales team that can outrun competitors. They don't have the resources to treat prospects to sporting events and fancy dinners. But they can get customers to say, "Yes." The Wall Street Journal writes about three small businesses that succeeded in getting to yes.

It's a known fact... stress and worries affect our health. It could manifest itself through physical and psychological symptoms including back pain, headaches, skin rashes, cardiovascular disease, and a weaker immune system.

With rising gas and grocery costs among other issues affecting homeowners, many now manage their own lawns and gardens instead of using landscaping businesses to save money.

Two businesses felt the pain of the economic downturn, but didn't let that stop them from finding ways around it.

This story illustrates what happens when a business avoids taking out a line of credit to pay its contributors and vendors. While you might duck paying interest on the drawn line of credit, it creates problems that could cost much more.

The CFO's decision not to take out a line of credit to cover bills and payroll led to the following...

inRich.com gives examples of small businesses that struggle to get a loan. One business took over a year to receive a loan and another found a bank turning down a loan despite good personal credit and money on deposit with the bank.