Common Money Mistakes New Business Owners Make With Financing - MOBE Review

With all the risks that come with starting a business, one of the most common pitfalls for newly found entrepreneurs are the mistakes that are made with regards to financing the business.

So you have everything set up to start your business - except financing. This is where many mistakes are made, and for many people the process is a little tricky. The first problem is that for many investors, the risk is quite high, especially for first time business owners. The stats show that somewhere between 90-95% of first time businesses fail. So it is no wonder that obtaining financing for a new business owner can be challenging.

However, don't let the fear get to you. This is one of the challenges that once you overcome, will spring-board you onto larger ventures in the future. As I like to say, the reward is sometimes in the process, and not with just the results!

Here are some of the most common pitfalls for the first timer entrepreneur when it comes to financing.

Do Your Homework

MOBE Review - One of the biggest mistakes new business owners make just happens to be the one that is most easily prevented - doing your homework! There are many resources available at your fingertips for getting started. In the US, you can visit the Small Business Administration website, (or another similar site in your region) which will give you the tools and steps to take to seek both counsel and investment opportunities.

The second thing you can do is reach out to your network of business owners to see what they did when they got started. Remember, as an entrepreneur you will need to be resourceful and master the art of networking. Do not be afraid to ask questions. Keep in mind that every business owner was a beginner at some point so most people will be eager to help.

Swallow Your Pride

Far too often, business owners, due to the nature of the entrepreneurial spirit, will fall victim to being to self-prideful to ask for help. Put your ego aside and do what thousands have done before you - ask for help!

Too many businesses have failed because the entrepreneur was too proud to ask for help because they wanted to do everything for themselves.

Set Realistic Financial Benchmarks

As with any business, sometimes it takes a little time to get ramped up. If you look at the stats, it takes many startups years before they get really cruising. If you are thinking you are going to get rich overnight, make sure that this is realistic with your business model. Do not lose patience in your business model and try to mimic what others in your industry have done before you.

Remember the S.M.A.R.T. rules for goals: Specific, Measurable, Achievable, Results, and Time. Keep this in mind and track everything as you get rolling so you can see your progress.

MOBE Matt Lloyd Tips to Secure Intellectual Property and Patents

If you are in an industry where your ideas or products can be easily duplicated or replicated, it is a good idea to seek help protecting your assets. Especially if you are looking to joint venture with others that may see you as a threat.

Patents, trademarks, and copyrights are all important part of the process, that unfortunately, many people screw up on the front end. And this can cost you big time!

After all, you will have put in hundreds and thousands of hours getting your product launched, including advertising, marketing, systems and protocols. You will not want to wake up someday and see that somebody has stolen your idea because you were not diligent enough to do your homework on the front end. Again, this is another rookie financial mistake that can be avoided if you are a first time business owner.

Reinvest First, Diversify Later

Often times when the money starts rolling in, you may be tempted to seek out other business ventures with your capital. With all business, the best choices come after the research is complete. Invest in yourself first, including education and reinvesting capital for your existing business, and if you decide to venture out later, you can do so when the time is right.

Once you have the necessary knowledge AND resources for a second venture, you will be much less of a risk due to your education and capital you have accumulated. Trust me, it will be worth it.

Invest in Employees

"Clients do not come first. Employees come first. If you take care of your employees, they will take care of the clients."

-Sir Richard Branson

This is a powerful quote to live by. Really take the time to get the right staff, it will make a huge difference. The most successful companies including Amazon, Ford, Virgin, and Google place a huge amount of resources on their employee experience, and it shows in their sales and growth!

Keep in mind that you get what you pay for. If you do not offer the best wages, make sure you have some other incentives that make it worth while for your team to help you get to your goals. Making mistakes on payroll is a common, but huge mistake business owners make.

Plus, the more work you can have others do, will allow you to focus on higher paying tasks, like growing the business!

MOBE Matt Lloyd – A man of mission

MOBE Matt Lloyd : At the age of 28, Matt Lloyd sits at the helm of the premier home company in the online marketing space. Having hailed from a poor back ground, he learned the value of hard work at a young age. By the time he was in college, he had already started dozens of small businesses – from selling Kangaroo furs, to farming maroon, to mowing lawns; he was willing to try anything. It was the time, when he came across a home business opportunity on the internet. He was eager to invest in online marketing, despite of knowing nothing about it. As a result he could not even make a single sale over a period of 9 months. But, Matt Lloyd didn't felt disheartened; he kept persisting and slowly results started to show up.

Matt Lloyd's MOBE:

MOBE Review :  Matt Lloyd wants to find solution to the biggest business problems that are hindering the growing entrepreneurs. So, he launched MOBE (my online business empire) in mid-2011. Now with over 60 staff, and over 10,000 active partners, the company lends its helping hand for serious entrepreneurs around the world. Through MOBE, Matt Lloyd, continue to deliver his valuable insights to both small scale and high end business men. So far over 370,000 entrepreneurs have benefited from his invaluable training.

How MOBE benefits you:

My online business education is a training and internet marketing program that is designed for entrepreneurs who are looking to enhance their knowledge in network marketing and online marketing. The program consists of products that are exclusively prepared by Matt Lloyd. All of his products are reasonably priced and highly focus on generating a business without many risks. Through MOBE training and products, you will learn how to build a real business in your particular niche that you're interested in. Although you will receive mentorship and guidance from his professional crew, you will be assigned a 6 – 7 figure business coach by Matt himself to aid your understanding of the content taught in My Online Business Empire. The useful training help you create a successful business plan together and place you on the track of victory.

MOBE is legitimate not a scam:

MOBE Review : If you do a thorough research about this business training, you would end up with few sites detailing My Online Business Education as a scam, a pyramid scheme or a fake scheme. The main stuff of those articles is that the training is completely irrelevant and failed to educate about how to promote business in current shaky environment. But, the complaint is purely baseless. The exposure you get inside of MOBE teaches you everything from basic internet marketing principles to advanced topics like traffic generation and conversions which can be used to market anything. It does wonders for improving your success retention rate of your business. You can witness higher caliber of service and of course higher caliber result, for a less pay and it is completely absurd to say that MOBE is scam.