Preparing for a Business Loan

  Is Bank Financing Right for You? Unfortunately, there is no simple answer to this question. Here are a few things bankers look for when they consider a business loan application. Note that, for the most part, this article applies to start-ups with no revenue, or to businesses with up to a few hundred thousand […]

Focus On … Something

If everything is a top priority, then nothing is a priority, and nothing will get done. This is a tough lesson, but all successful business owners eventually learn it. Many startups are particularly susceptible to the idea that they can serve this market, and that market, and those people over there, and these groups over […]

Sell Your Business For More

At some point, every business owner has to leave the business. While closing down is always an option, it is almost never the best one. Also, what’s the point of simply shutting down when a nest egg or funding for the next opportunity is available? The most common exit option is a business sale. However, […]

Business Planning for Success

We all want a packaged solution that will solve our problems quickly, painlessly and at low cost. Need to get somewhere faster? Buy a new car. Need to lose weight? Sign up for a diet service. Need to boost business revenues? Call a consultant. I wish I could always solve my clients’ problems quickly and easily. […]

Why Restaurants Fail

Walk around your city and you’ll probably see at least a few “for lease” signs in empty restaurant windows. According to a recent study by two economists using United States Bureau of Labor Statistics data, only 17% of restaurants fail within their first year – far less than the 90% restaurant failure rate claimed by some […]

Selecting the Right Firm, or What Could Possibly Go Wrong?

Eventually, every business, no matter how well run, hits a rough patch. While large businesses are used to hiring consultants, and have people and processes in place to get the most out of such consulting engagements, most small business owners do not. Consider the following – fictitious, but unfortunately all too common − story about […]

Should You Scale Your Business?

OK. So you started your own business, grew it to the point where you are now making a modest income, and you finally went on a vacation for the first time in five years. Revenue has increased for the past few years, the business is generating a small profit, and you have several employees. Are […]

Bright Shiny Object Syndrome

Con artists long ago mastered the art of distracting their “marks” with bright shiny objects. Once they get the victim’s attention, they exploit his or her weaknesses to get what they want —- a suitcase, a wallet, a watch, or a purse. Con artists distract intentionally and purposefully, and they are extremely good at it. […]

Interview with Cecelia Hamilton

Cecelia Hamilton is the founder and owner of Heartfelt Catering, a Chicago-based catering business with a focus on simple, fresh, healthy southern-influenced cooking. Could you tell us a little more about Heartfelt Catering? What inspired you to start this business? Several years ago I was working on a personal project that required lots of creativity. […]

Helped Beverage Startup Go to Market

An aspiring entrepreneur had been experimenting with a new non-GMO hot drink for more than a year when she decided to contact Ground Floor Partners. She initially wanted us to help her find a contract manufacturer and help her with marketing. But after several conversations we agreed the product was not ready for prime time […]