FEATURE CONTENT:

How to Build Business Credit and Accomplish Goals

Entrepreneurs leverage time, resources, energy, and people to create, increase, and accomplish goals that align with their vision and purpose. In this guide, we’ll explore how Superpreneurs approach their work and share strategies for establishing and improving business credit.

By Relentless Aaron

Understanding Superpreneurs

Superpreneurs are driven by a sense of purpose and a desire to make a difference in the world. They are visionary thinkers and problem solvers who are passionate about their work. Superpreneurs understand the importance of time management and creating efficient systems to accomplish their goals. They also know how to leverage the resources and skills of others to achieve success.

Time Management

Superpreneurs understand the value of time and work hard to make the most of every minute. They prioritize tasks and delegate effectively to maximize productivity.

Efficient Systems

Superpreneurs create systems that streamline their work and help them achieve their goals. By eliminating unnecessary steps and automating processes, they free up time to focus on other areas of their business.

Collaboration

Superpreneurs are skilled at working with others to achieve their goals. They recognize the strengths of their team members and leverage those skills to elevate their business.

Leveraging Time, Resources, Energy and People

Success as an entrepreneur requires a combination of hard work, innovation, and great ideas. To achieve your goals, you need to be strategic with your time, resources, energy, and the people you work with.

“A good businessman is not just the one who makes money, but the one who creates systems that can make money without him.”

– Michael Gerber

TIME MANAGEMENT

Focus on your most important tasks and delegate effectively to free up more time for big picture planning.

RESOURCE ALLOCATION

Be strategic with your resources and invest in areas that will have the biggest impact on your business.

ENERGY MANAGEMENT

Take care of your physical and mental health to stay energized and focused on your goals.

PEOPLE SKILLS

Build strong relationships with your team, partners, and customers to create a supportive and collaborative work environment.

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REQUIRED VIEWING!

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Creating Goals that Align with Vision and Purpose

Write your Creating goals that align with your vision and purpose is essential for long term success. By having a clear purpose and direction, you can make strategic decisions that support your overall goals.

Introduction to Business Credit Building

Building business credit is essential for accessing financing, securing better loan terms, and obtaining resources for growth. In this section, we’ll explore the basics of business credit and why it’s important for entrepreneurs.

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What is Business Credit?

Business credit refers to the creditworthiness of your business, as opposed to your personal credit. It is a measure of your business’s ability to repay debts and obligations.

Why is Business Credit Important?

Having strong business credit allows you to access financing and resources for growth. It also helps you secure better loan terms and credit limits. You get to do this for unlimited funding which isn’t as possible with personal credit.

How to Build Business Credit

Building business credit takes time and effort, but it’s worth it in the long run. By paying your bills on time, establishing business credit accounts, and monitoring your credit report, you can build strong business credit.

Getting To The Money Much Faster

Ready to accelerate your journey to financial success? Let me introduce you to my trifecta for getting to the money much faster. It’s a simple yet powerful strategy that can supercharge your business growth. Let’s dive in: Business Credit Building: A Step-By-Step Guide to Financial Empowerment and Growth.

Introduction

Access to adequate financing is often a crucial factor that determines the success or failure of a business. Whether you’re a startup looking for initial investment or an established company aiming for expansion, building a strong business credit profile is essential. It not only helps you secure loans more easily but can also get you better terms and conditions. This article will outline strategies for establishing and improving business credit to unlock financial resources crucial for growth

1. Fix Your Credit

I know you’ve heard this before, but it is honestly your key to unlimited wealth if you just take heed to the following… 1. Fix Your Credit

I know you’ve heard this before, but it is honestly your key to unlimited wealth if you just take heed to the following…

Why Repairing and Maintaining Credit is Important

Your personal credit history often plays a significant role in establishing your initial business credit. Lenders look at it as an indicator of your financial responsibility and decision-making. It serves as the DNA of your spending habits. In this article, we’ll show you how to optimize your credit profile to unlock the best lending opportunities. We’ll also share insider tips and tricks to give you the upper hand in the business credit game.

We’re here to help! As your leading consultant in these matters, we’ll guide you through the entire credit repair process. Patience and discipline are key factors, and we’ll be there every step of the way to ensure your success.

Action Steps

1. Check Your Credit Reports: Obtain credit reports from all major credit bureaus and scrutinize them for errors or fraudulent activities.
2. Resolve Outstanding Debts: Pay off outstanding balances and negotiate with creditors to remove negative marks.
3. Build Good Habits: Keep your credit utilization low and make all payments on time.

2. Connect Your Credit to an

Established Aged Corporation

Connecting your strong personal credit to an established, aged corporation can immediately elevate your business credit profile. This strategy is particularly beneficial if you aim to acquire an existing business. The key steps include conducting due diligence on the corporation to ensure it has a clean credit history, consulting advisors for legal formalities, and transferring the corporation’s credit history to your business profile.

Why It’s Important

Linking your optimized personal credit to an established, aged corporation can give your business credit opportunities an immediate boost. This is particularly valuable if you’re looking to buy an existing business, where a strong credit profile could be advantageous in securing a favorable deal. We’ll show you how to leverage the power of an aged corporation to maximize your business credit potential.

Action Steps

1. PURCHASE AN AGED CORP-If you don’t, contact AIM or find an aged corporation. Make sure its an S-Corp or a C-Corp and make sure that it’s clean of issues. Your best bet is to buy one from a lawyer. However much you pay for the corp, it will be worth it since your goal is to raise 1 million dollars with it. Mindset is everything.
2. Due Diligence: Conduct thorough research on the corporation you’re interested in. Make sure it has a clean credit history, robust financials, and no online presence.
3. Legal Formalities: Consult legal and financial advisors to ensure the proper procedures are followed in linking your credit to the corporation.

1. 3. Connect Comparable CreditUnlocking significant funding is simpler than it seems. By strategically aligning your credit profiles and acquiring an aged corporation, you set your business up as an attractive prospect for lenders. Follow a few key steps, and you could secure over $250,000 in funding, laying the foundation for sustained growth.Why It’s ImportantAdding comparable credit means aligning your strong personal and business credit histories with similar strong credit profiles, bolstering your business’s financial standing. By establishing credit relationships with businesses in your industry, you’ll demonstrate to lenders and underwriters that your company is worthy of substantial funding opportunities.REMEMBER: Every lender has money to loan and needs an excuse to loan that money. Keep in mind, lending money is why they are in business in the first place. So give them the reasons they’re looking for! Seize this opportunity to secure the financing your business needs.Action Steps
   1. CREDIT TRANSFER: Once due diligence is complete, take steps to have the business credit history of the established corporation reflected in your business credit profiles.
   2. ADD AN ESTABLISHED TRADELINE (BKA “COMPARABLE CREDIT”) -NEGOTIATE CREDIT TERMS: Purchase a tradeline for your aged corp. If you already have a corp that is older than 2-3 years, great. That’s a good place to start your first round of funding, even getting a Non performing note (if possible), and then changing it to a “performing note” is another good way to add substance to your business credit profile. You can also purchase a tradeline so that you piggyback on an already performing note or loan. We also sell these at AIM, as well as we deal with other brokers. These loans can be real estate related, which are some of the best kinds of tradelines you can have reflected on your business credit.
   3. NOW IT’S TIME TO GO GET THE MONEY: IF YOU NEED TO START SMALL, YOU CAN EVEN GRAB SMALLER TRADELINES! Accumulate smaller business credit cards and lines of credit for 10, 20, 30k. That all adds up and you can now go to the next step. Everyone wants the large money-fast but there is something to bbe said for the turtle process. Slow, easy and calculated gets the prize all the time.
   4. REPEAT THE ACTION STEPS IN 1, 2 & 3- So you now have raised over $250,000 based on the strategy we’ve given you. With your repaired & optimized credit you went and purchased an aged corp. Then you purchased a tradeline of 50-80k, and then you went and raised capital from 4-5 banking institutions. They all (also) gave you comparable credit which will be recognized and reviewed wehn it comes to your next round of funding.
   NOTE:So WHAT’S NEXT? This is where you DO NOT GET LAZY. You now use 10-12k of your first round of funding and you go larger. Your personal credit is still amazing, you have money in the banks you’re now doing business with, and for at least 3 to 6 months you’ve been building credit with those banks. Now it’s time for your next rounds of funding. IMPORTANT: Wipe your inquiries and go after another aged corp, a larger tradeline this time, and now go into 6-10 institutions, even returning to the ones you’re already doing business with. Keep making money with your money. Even if you open a candy store. Keep those regular deposits. And finally, go raise round 2 of your funding. I guarantee if you follow our leadership you will have your million dollars in funding, more or less looking for sound investments to make more money. Ensure that all these new credit relationships are reported to business credit bureaus.4. Go Get $300,000 From each of
2. 3 Banks, After 60 DaysAfter 60 days of establishing a robust business credit profile and optimizing personal debt, you’re now positioned to secure higher financing amounts at favorable terms. The strategy involves meticulous application preparation and diversification of funding sources by applying to 3-4 banks. The end goal is to fuel your business’s growth and set the stage for repeating the funding cycle with multiple credible corporations.Why It’s ImportantWith a strong business credit profile you’ve established, plus you’ve moved some of the business resources to pay down personal debt, plus you’ve developed an understanding and a routine of playing with these larger numbers, now you are more likely to get approved for higher amounts of financing at better terms. Secure the funding your business needs to fuel its growth and expansion. Now you have 2 corporations that are both credible, plus you know the routine. Time to REPEAT, REPEAT, REPEAT. It can never hurt to have more and more resources. Action Steps
   1. Application Preparation: Prepare all necessary documents, including business plans, financial statements, and a clear outline of why you need the financing.
   2. Bank Approvals: Apply to at least three banks to diversify the sources of your funding. We have a list of institutions aside of which credit bureaus they pull from.
   3. Loan Utilization: Use the loan amount judiciously for your business’s growth.
   5. Rinse and RepeatMaintaining a strong business credit profile is an ongoing process. Regularly evaluating and updating your credit reports paves the way for additional funding opportunities. The strategy involves removing excess credit inquiries, monitoring credit performance, and repeating the funding cycle every 60 days. The goal is not just to secure financing but to also invest in a team that can manage your growing financial portfolio and diversify revenue streams.Why It’s ImportantBuilding a robust business credit profile is not a one-time activity. It requires ongoing effort and strategy. Continuously evaluate and optimize your credit profile to unlock additional funding opportunities for your business.Action Steps
   1. Remove your inquiries so that your 3 reports show one or less inquiries.
   2. Reevaluate Credit: Continuously monitor your credit reports and update them as needed.
   3. Optimize and Repeat: After 60 days of securing your initial funding, repeat steps three and four to secure additional funding.
   4. Smart Team: Use some of your financing to hire a competent team to manage your finances and explore new revenue streams.
   There it is-the ultimate
3. fundraising strategy.Building a strong business credit profile is an essential part of any company’s long-term success strategy. By carefully planning and executing the steps mentioned above, businesses can not only secure the financing they need but also set themselves up for sustainable growth. Whether you’re buying an established company or starting a new venture, business credit is a linchpin that can make or break your entrepreneurial dreams. With diligence, savvy, and discipline, you can build a business credit profile that opens doors for your venture.

Thank you for being a client, a friend, and associate of AIM,

American Institute of Management, the parent company of The Credit Gardener