How can I get money to expand my business?

We've talked a bit about business equipment, which is one side of a business, especially if they're, you know, equipment heavy. Yeah, well, let's shift to business funding. So just, you know, funding for a business in general. Okay, so there might be some similarity in these questions, but now we're talking about, you know, more so capital. So how can I get money to expand my business?

How can you get money to expand your business? Well, there are a number of resources that you can tap into. So you can tap into the conventional banking system so you can meet with a banker, describe the existing state of your business, where your business is headed. Banks love to lend capital to expanding companies. You can work with economic development corporations or SBA type organizations where their mandate is to help small businesses expand and they have ready access capital on favorable terms. But you need to have a business that's obviously razor sharp operationally in profit, generating some free cash flow. Or you might be on a path to that profitability or free cash flow, recognizing that regardless of what the options are, there's a process, there's a process of applying, going through, underwriting and qualifying to get access to someone else's pile of money. A third method, an alternative method that is gaining increasing popularity, understandably so, is the infinite banking concept. This is a concept that was developed by my late mentor, the late R. Nelson Nash, who wrote the bestselling, number one bestselling book titled becoming your own banker. And the infinite banking concept. The essence of it is, is to control how you finance all the things that you need, including expanding your business and being able to do that from a position of control. And as a business owner myself, having a family group of companies, we have 13 businesses in our family group of businesses. We need access to capital. And, and whenever we've had to deal with a conventional bank or an economic development corporation, small business loan administrator, that process was a lot more tense and a lot more friction based than the infinite banking concept, which is a very peaceful, stress free way of expanding our companies. So if I had to choose one or the other, it would definitely be the infinite banking concept hands down.

So there's definitely better ways to increase a company's capital or access to capital than commercial banks.

Oh, 100%. There's private investment.

Right.

You can seek investment where people are going to put up capital in exchange for an ownership interest in your business and maybe a voting interest or a non voting interest. And that works for a lot of people. Just look no further than how Jeff Bezos initially built Amazon. He literally scraped together in small bite sized increments of capital. These small investments from close family, close friends, colleagues that he knew from his business experience. And those people went on to become remarkably wealthy. And so private investment can be a good thing, especially if you're betting on the right jockey versus just looking at the horse.

I would say that two words that most people are interested in, cash flow.

Yes, that's where all happiness begins, cash flow. If you're in business. I mean, if you're in business.