Category: Growing a Business

4 Financing Sources for Fix and Flip Real Estate Investors

4 Financing Sources for Fix and Flip Real Estate Investors

Inspired by television shows featuring investors that fix and flip properties in what feels like a blink of an eye, there are many people who want to try their hand at real estate investing. This is a definitely a type of investment where it “takes money to make money.” You’ll need money to acquire the property as well as funds to fix it up. But many lenders are still cautious after the 2008/2009 downturn, so you may have to get… Read More
8 Telltale Signs You’re Working at a Sinking Ship Company

8 Telltale Signs You’re Working at a Sinking Ship Company

You like your job. You need your job. Companies downsize, get bought out, declare bankruptcy, or go out of business altogether every day, but it could never happen to you—right? Wrong. Nothing in life is certain, and it's best to be prepared for worst-case scenarios. Look for these eight signs that your company might be failing, and avoid going down with the ship. 1. Changes in Vision Five days a week, we Navsters pull on our work boots to “materially… Read More
6 Signs You’re Micromanaging Your Business

6 Signs You’re Micromanaging Your Business

No one wants to be micromanaged, but as it turns out, no one really wants to be known as a micromanager either. While a super small start-up might get away with it for a while, this annoying and often demoralizing habit can have a devastating effect on the workplace. It is especially destructive to a growing enterprise. Here’s why you can’t afford to allow it in your company culture, and how you can recognize it before it gets out of… Read More
6 Ways to Save Money On Payment Processing Fees

6 Ways to Save Money On Payment Processing Fees

In life and in business, fees are always adding up. Take business loans as an example. To get funds, you’ll pay an interest rate for an agreed upon term. There might be an origination fee for processing your application, a late payment fee if you’re behind on payments, or a monthly maintenance charge. You have to understand what you’re actually going to pay before you sign on the dotted line. Credit card processing fees are the same way. Here are… Read More
Do I Need an Employer Identification Number?

Do I Need an Employer Identification Number?

When you’re starting a business, you’ll have a lot of questions. Among them, “Do I need an EIN?” As with so many business questions, the answer is “it depends.” According to the IRS, an EIN is a nine-digit number used to identify tax accounts of employers and certain others who have no employees. It’s sometimes referred to as the business equivalent of a Social Security number, though the format is slightly different: XX-XXXXXXX. It’s also known as a federal tax… Read More
How a Strict Budget Was Key to Getting This Telecom Company Off The Ground

How a Strict Budget Was Key to Getting This Telecom Company Off The Ground

José Cruz is the founder of rēd wireless, a cellular telecom company based in Detroit, Michigan. Cruz calls the company “a collaborative family business” that helps building owners and end-users access reliable cellular connectivity indoors. Cruz leverages 20+ years in the telecom industry to demystify cellular for his clients. Why did you start this business? I never had the entrepreneurship bug. In the ‘90s, I graduated with a bachelor’s degree in electronics from the University of Puerto Rico. From there,… Read More