Blog articles discussing factoring companies, factoring loans, invoice factoring,small business finance and all things related.
As we get older and reflect on our past experiences the old saying, “I wish I knew then what I know now” has more and more relevance. We have all had those times when we wished we hadn’t said something moments after we said it, or emailed something that should have never been in writing, or maybe it was something we didn’t do that we wished we had. These experiences happen for all of us in our personal and professional lives over time. Like aging itself, these moments are impossible to avoid.
As we go through our professional career we learn certain things though trial and error. We have all worked with managers we loved and those we didn’t. Through our experiences we learned in which environments we thrived and in which we didn’t. Some of us were managers who learned how to work with others over time. In the beginning, we made a lot of mistakes and made adjustments to our approach in order to become better at our managerial responsibilities. We studied and learned from the great managers in business and we listened to our employees and used their constructive feedback to become a better motivator, teacher, team player or whatever it was we needed improvement on. It’s an on going work in progress that is really more of a journey than a destination.
Mentorship programs are popular in graduate school. Having a mentor cuts through a lot of the self exploration and provides some solid advice on how to succeed as a leader. If it’s been done before, we can study and learn from it. This saves a lot of time when aspiring to learn something new. We all have our own point of view, our own style, but we pull from others what we like and see relevant to our situation. Learning from others that have been where you are and have succeeded at it, is a powerful source of knowledge and gives us a huge advantage when taking on a new task.
However, before mentorship programs we had the guidance of our parents. Our parents gave us advice on how to handle situations that came up in school or on the playground. We learned how to deal with others and “share” even when it was not something we necessarily wanted to do. As we know, our parents were once young and they experienced the things we were experiencing for the first time. They provided guidance on life matters from their experience. They were our first teachers when it came to everything from potty training to relationship advice (when we became old enough to be interested in such things). Without the guidance of our parents, learning would have taken a lot longer, and some things we simply wouldn’t even try without them there to help us (i.e. swimming or riding a bike).
So what does this have to do with being a business owner? Well, as entrepreneurs we start a business typically because we have the connections and experience in a certain area. We rationalize that we have enough raw talent and drive to be successful. We say to ourselves that “I know enough to run my business and that which I don’t know, I can learn.” With enthusiasm and passion we start our business with big aspirations and goals.
Not to be negative, but as we know, most small businesses fail. For example, just because you’re a great cook, doesn’t mean you can manage people and run a successful restaurant. There are many things we learn when we voyage out on our own, some of which we hadn’t thought about when we first started out. Business owners soon realize that in order to sell their product, they must also have knowledge in accounting, human relations and banking to name a few. These are areas that are necessary, but not necessarily areas we have experience in when first starting our own business.
So what inspired this blog post? Again, our clients. A growing number of our clients are coming to us because the bank is kicking them out. They say, “I wish I knew then what I know now!” referring to some bank covenant that they triggered that resulted in the bank freezing their credit line. They are being asked out of the bank and pressured to find a “more suitable” lender.
Huntington Coast Capital has received the compliment of being told that we are “invisible, but invaluable.” You won’t see our name in any annual reports, or mentioned in any trade publications highlighting super fast growth companies. However, our services are a catalyst in getting your business to it’s true potential. Securing a flexible lender that understands your business and has the entrepreneurial mindset required to understand your vision is invaluable.
Do you want to save time and frustration in finding the right lender for your business? Would it be worth something if you knew where the flexible funding partners were that could bring real value to your business? We want to help.
Huntington Coast Capital bridges the gap and guides you into the lap of entrepreneurial lenders that are looking to fund your business without the limiting covenants and regulations of traditional lenders. Call us to discuss your funding needs. Don’t be one of those failed business owners that tell themselves, “I wish I knew then what I know now.”
To your success!
Patrick Zazueta | Founder
Huntington Coast Capital, Inc.