A special thanks to Ira Gostin, a long-time member and supporter of NCET, and our friends at Tahoe Resources Inc., for their generous donation of $1,000 to NCET. Tahoe Resources is a Reno-based, publicly traded mining company led by experienced mining professionals who are dedicated to the responsible production of precious metals in the Americas.
Building a company can be expensive, and young entrepreneurs often struggle with how to raise capital to scale their company early in their business’s lifecycle. The decision is critical for a startup, entrepreneur or mid-sized company. Make the wrong decision and you may give away a huge chunk of ownership at a bargain price or hamstring your company’s growth by starving it of funding. Conversely, the right decision can fund your company’s expansion while you still retain the ownership stake you deserve for founding and growing a successful enterprise.
Too often customer service is seen as a necessary evil. A cost to the business the company would rather not bear. It’s time to change your philosophy and create a culture with a commitment to service. This can lead to new marketing opportunities and growth for your business. Customer service is not a cost center, but a money generator!
Is your network in danger? What to do if there is a security breach? How to protect your company from cyber attacks?
Tony Rucci will answer these questions and share a case study about a Credit Union in Florida whose systems had many breaches despite there being no indications of any security problems. Tony has over 30 years of counterintelligence and security experience and is the founder /Root Technology whose main emphasis is secure networking,
The first place a new startup business looking for capital might approach is their local bank. Although traditional lenders are loosening their grip as the economy improves, they are still not as open to funding startups, especially those that require large amounts of capital. So what is a new business to do? Perhaps an angel investor is right for the job. So what is an angel investor and what do they do? Angel investors are often entrepreneurs themselves or have expertise in an area that might be helpful to a new company. Once an angel or angel group has enough confidence in a company’s business proposal, they might offer funds to finance their business.
This column looks at different options for borrowing money, including Personal Cash and Debt, Friends and Family, Crowdfunding and Factoring. Personal Cash and Debt is the source of money for most new businesses. You dip into your checking or savings accounts and loan a certain amount of money to your new business. People often use credit cards, home equity lines of credit and loans from retirement plans as well. While these can be very effective sources of startup capital, they require disciplined record-keeping. Many owners are far too casual about mingling personal and business money, and you must keep detailed records of money given to and repaid by your business.