The Fundid Podcast

Ever wondered why business insurance is such a vital tool for business growth? We're unlocking the complexities of this topic with Mary, the brains behind Gild Insurance. Listen as she carefully deconstructs the importance of business insurance, using tangible real-life examples to show how a lack of understanding can lead to quick decisions, especially when a lease agreement calls for proof of insurance. We'll also cover the nitty-gritty of general liability, property insurance, and workers' compensation.We also shed light on the cost of business insurance and how your everyday operations and contracts can spark the need for coverage. Mary shares insights about how insurance costs can differ based on location, types of protection, and other variables. We emphasize the significance of annual insurance reviews and discuss how Mary’s team proactively checks in with clients to review their business changes. We'll also delve into how independent insurance agents can lighten the load for business owners. Plus, we'll explore Gild Insurance's commitment to empowering small businesses. So get ready for a rich understanding of business insurance for small businesses – it's a conversation you don't want to miss!

Ever wondered if your small business can be sold? Rest assured that it's not only possible, but can bring significant returns when done strategically. Join me, your host, Stefanie, as we delve into an insightful conversation with Dylan, co-founder of Baton, breaking down the steps and strategies crucial to sell a business effectively.This episode promises to demystify the process of selling a business, emphasizing the importance of understanding your financials, even if you're not a finance guru. We uncover key factors such as customer concentration, tax compliance, and how size influences the ability to sell your business. Dylan provides invaluable insights into getting an accurate business valuation and finding the right buyer, even handling situations where the valuation might be lower than expected.But selling a business isn't just about numbers or finding buyers; it's a journey that often springs unexpected surprises. We discuss the time and effort involved, the critical role of a good business broker, and the importance of having a professional team by your side throughout the process. And as we wrap up, we shed light on how customer relationships, industry, and even one's motivation can impact the sale. You'll come away better equipped and confident to embark on the journey of selling your business. Tune in, and let's get started.

Strap in as we journey through the fascinating world of invoice factoring with the help of my guest, Earl Camp from Now. Earl, an authority in business development, breaks down this potent alternative financing method for us. Imagine being able to exchange your invoice or accounts receivable for immediate cash. Yes, you heard it right! This time-honored technique, which was traditionally the realm of retail and large-scale businesses, is now within reach of smaller companies. As Earl reveals, this could be the key to sustaining your business operations without the agonizing wait for invoice payments. In the second half of our discussion, we lift the veil off hidden fees and the process of qualifying for this type of financing. Earl and I debunk the misleading idea that profitability isn't vital for small businesses. We also take a hard look at recourse and non-recourse solutions, and the potential risks that invoice factoring can bring to your business. Get ready for an enlightening conversation that could change the trajectory of your entrepreneurial journey—whether you're a seasoned business owner or a fledgling one. Don't miss out on this chance to unlock the secrets of a financing solution that's as old as time yet as relevant as ever.

Ready to turn your small business's financial confusion into clarity? We've got Luis, the director of business advising services at Accion Opportunity Fund, on the mic to help you do just that. In our chat, Luis illuminates the often misunderstood concept of working capital loans, revealing when and how they can be your business's financial lifeline. Plus, he'll clue you in on alternatives like credit cards and lines of credit, and guide you through the perks and pitfalls of each. Diving deeper into the financial landscape, we tackle the key role of personal credit when applying for a loan and how it affects your small business's risk assessment from a lender's perspective. Luis equips you with important tools to discern the right kind of capital for your business needs, and how to evaluate a project before diving into a loan. We wrap things up with Luis's handy method for calculating a ballpark figure for a working capital loan, and how to dodge predatory lenders. Tune in, and get ready to navigate your small business's financial journey with confidence and knowledge.

Imagine a world where you could skip the startup phase and dive straight into running an established small business. Sounds exciting, right? On today's episode, we're thrilled to have Chat, co-founder and CEO of Baton, a platform that has been heralded as the Zillow for small businesses. Chat enlightens us on the untapped potential of buying an existing small business compared to starting from scratch.Can you guess what the first step to buying a business is? It's as simple as identifying what you're passionate about. Once that's out of the way, we navigate the maze of financing. With insights from Chat, we unravel the complexities of different financing options including SBA loans, investor funding, and 401k rollovers. Our goal throughout this conversation is to empower you with the knowledge to make informed decisions about your financing options.But how do you evaluate a business you're considering? Our discussion with Chat explores the critical factors to scrutinize during acquisition. We underline the importance of consistency, durability, cash flow, and the retention of key employees. Join us as we also delve into the Baton's role in streamlining the process of buying a business. By the end of this conversation, you'll have a clearer understanding of the process and timeline of buying a business and how Baton can facilitate your entrepreneurial journey. So, whether you're already in business or contemplating diving in, this episode promises to be informative and enlightening!

What does it take for Latinx entrepreneurs to secure the funding they need to thrive? Join us on this captivating episode of Funded Podcast as we sit down with Alexandra, the dynamic CEO of Poder Capital. Alexandra takes us on a journey, recounting her personal experiences as an immigrant and the challenges she overcame to pave the way for Latinx business owners. She brings to light the oft-overlooked barriers, specifically around the bank's expectations of collateral, that hinder Latinx entrepreneurs from achieving their goals. Together, we analyze the systemic issues in the financial sector, discussing strategies to enhance your chances of securing funding. Building a strong relationship with your bank, understanding the nuances of lending, and leveraging support networks such as local Chambers of Commerce and the Small Business Administration are just some of the nuggets of wisdom Alexandra shares. We also take a deep dive into the disparity between the revenue of many Latinx businesses and the capital they seek, emphasizing the importance of understanding the realistic absorption of a loan. Don’t miss out on this insightful conversation that not only highlights the state of Latinx businesses in the US but also explores the impactful solutions that are reshaping the funding landscape.

Ever wished for a deep-dive into the world of crowdfunding? This is your golden ticket! Join me, Stefanie, CEO of Fundid, as we navigate through the intriguing world of crowdfunding with Topiltzin Gomez, Head of Capital Strategies at Honeycomb Credit. We’ll give you an insider's view on everything from donation crowdfunding to equity crowdfunding, the 2012 JOBS Act, and much more. We'll even touch on the vital role played by regulatory bodies such as the Financial Industry Regulatory Authority and the Securities and Exchange Commission in ensuring investor safety on crowdfunding platforms.But that’s not all! We’ve also dedicated a substantial portion of our discussion to financial readiness for crowdfunding. Discover the range of crowdfunding platforms, their industry success benchmarks, and the types of businesses that shine in this space. We'll guide you through the common repayment terms and interest rates on loan crowdfunding platforms. And of course, we take a deep look at Honeycomb's loan crowdfunding process, a treasure trove of insights for every small business owner. So, are you ready to unlock the secrets of successful crowdfunding and take your business to the next level? Let's get started!

Ever felt chained to your desk, yearning for a break but worried about the consequences? Join us as we break down the often misunderstood world of PTO (Paid Time Off) with Rilee, the CEO of Donde. We dive into the history of PTO, how it's evolved, and how it shapes the corporate culture around us. No more wondering about accrual-based policies or the concept of unlimited PTO, we uncover it all.Ever thought about the correlation between time off and your overall productivity at work? We got you covered. We delve into how much our mental health is intertwined with our capacity to work, why vacations are more than just a luxury and how they can spark creativity and boost productivity. We discuss the necessity of quality over quantity when it comes to time off, and how to overcome the hurdles faced by hourly wage workers. But we don't stop there. We investigate why, despite being offered by the majority of companies, PTO is largely underutilized. We light the way on how to effectively leverage PTO as a tool that benefits both employees and employers and the key considerations when offering PTO. We also highlight Donde, a company that empowers people to save for their dream vacations. Join us for this enlightening chat on reimagining PTO!

Looking for funding to kick-start your entrepreneurial journey? Discover insider tips from Stephen, CEO of Paintbrush, as we discuss the ins and outs of financing options available to new businesses. From angel investors to credit card debt, we leave no stone unturned to help you make informed decisions.In this episode, we also cover various financing alternatives, including factoring, inventory financing, and revenue-based financing. Stephen sheds light on the importance of shopping around for the best rates while steering clear of predatory lenders. Furthermore, we explore loan terms beyond just the interest rate, focusing on origination fees, prepayment penalties, and term lengths to help you pick the right loan for your business.Don't miss out as Stephen shares the details of Paintbrush's $50,000 startup loan, complete with a non-punitive workout program for founders who default. With a unique personal guarantee structure, Paintbrush aims to provide new business owners with the flexibility to manage their debt and repayments while taking necessary risks. Tune in to this episode packed with valuable insights to help you navigate the world of financing and set your venture up for success!

Ever wondered how e-commerce has taken the retail world by storm and what it means for the future of brick-and-mortar stores? Join me, Stefanie, CEO of Fundid, as I chat with retail guru Michelle, the mastermind behind ShopDot and Vim & Vigr, to uncover the secrets behind creating an omni-channel shopping experience that keeps customers coming back for more. Together, we'll explore the rise of e-commerce platforms like Shopify, Bitcommerce, and Woocommerce, and how they've revolutionized direct-to-consumer sales. Michelle will also share her insights on the challenges brands face in customer acquisition and profitability, as well as her own journey to developing ShopDot, a platform designed to empower independent retailers. Don't miss this captivating conversation on the ever-changing landscape of retail and how businesses can stay ahead of the curve!

Do you know how to navigate the world of 401k plans for your small business? Join us as we chat with Jean Smart, CEO of Penelope, to uncover the ins and outs of offering employees 401k plans and the recent Secure 2.0 federal act that aims to motivate small businesses to set up such plans. With social security projected to run out in 2037, this episode is a must-listen for anyone looking to secure a better financial future for themselves and their employees.Together, we explore various 401k plan options, such as traditional and safe harbor plans, and how providing matching contributions can be a rewarding way to encourage employee participation. Jean guides us through the importance of choosing the right plan to avoid unnecessary compliance tests and auditing, and shares her experience founding Penelope, a firm dedicated to making the process of setting up a 401k plan as easy and automated as possible for small business owners. Don't miss this informative discussion that could be the key to unlocking your employees' financial security!PenelopeSecure 2.0

Hey there, business enthusiasts! I'm your host, Stef Sample, and this is The Fundid Podcast - the ultimate guide for small business owners looking to start, grow, and operate their businesses smartly and successfully. 🔥Our incredible lineup of expert guests will share their secret techniques, strategies, and insights on key topics such as finance, marketing, management, and so much more. The Fundid Podcast is here to equip you with practical, actionable advice to make informed business decisions and better understand access to business capital. 💡Subscribe now to The Fundid Podcast, and let's start getting smarter as business owners! 📈✨