June 14, 2010

No Victims Allowed

leviWhether you’re an aspiring or practicing entrepreneur, if you want to acquire funding for your business, then drop the victim attitude. It’s interesting to see people come in the front door (okay, our website is the “front door”) of our business with their risk profile in disarray, yet never accept accountability for their own predicament.

If your personal credit is unsightly, if your business credit is non-existent, if you’ve never considered whether your expansion plans can be profitable, if you’re still making excuses for not having a website a decade after it became commonplace for business owners, then how is that FundingUniverse’s fault? Why should we fix all your problems and not be compensated?

It’s interesting that people don’t want to pay to fix their own problems (created by their own actions). I can’t imagine going into a personal trainer pathetically fat and wheezing just from walking from my car to the gym entrance, telling him/her that I want to train for a marathon, but that I’m not going to pay up for anything until I win the marathon. What did the personal trainer have to do with my Big Mac, Twinkie, and Hershey’s problem? What about me would give the trainer confidence that I would actually stick with the work of getting my flabby body into rock hard shape? Nothing. Nada. Zilch.

Can you imagine a college student demanding that tuition payment shouldn’t be made until the degree is issued? Is it the college’s problem that the student is uneducated? What if the student sleeps through class, doesn’t take tests, or doesn’t study. Should the student get a refund of their tuition? Please. This is getting painful to even read as I type it.

Take ownership of your situation. If I want to hear whining and complaining I can go out into the consumer economy. Presumptively – in part anyway – people who start businesses do so because they are ready to take ownership of their own financial and emotional well being. So in the B2B economy I shouldn’t hear nearly as much bawling or see as much finger pointing as in the consumer economy.

After reviewing thousands and thousands of credit reports and other risk indicators attached to our customers over the years, I can tell you with conviction that the businesses on the most solid ground also take ownership of their personal and business credit, their financial and corporate hygiene, and their business image. If you want to be one of those successful businesses, the best place to start is by owning up to your marginal credit profile or bad financial habits, and work your tail off to fix them.

Of course you need to do it on your own time and your own dime, but we’d love to help.

Levi King
President
FundingUniverse