Ilya Bodner Articles

The Spirit of Expansion - Click To Read Article
What exactly is an entrepreneur and how does it relate to small business expansion? There are many differing views on what makes someone worthy of this title. Investorwords defines entrepreneur as “an individual who starts his/her own business.” In a general sense, the word applies to any person starting a new project or trying a new opportunity. However, this definition leaves out other essential characteristics of an entrepreneur.

Tracking Software - Small Business Owner Financing Tool - Click To Read Article
Smart businesses use computer-tracking software for just about everything. Digital tapes show employers the exact sequence of everything their employees are doing on the computer. It records emails, chats, IMs, websites, web searches, programs run, keystrokes typed, files transferred, screen snapshots and more. It offers chat and internet access blocking.

A True Business Credit Card - Click To Read Article
true business credit card is a line of credit that is taken in the name of the business, under the business' credit. Activity, whether good or bad, is reflected on your business' credit report through D&B and other financial institutions, and the liability for any debts incurred and bills owed is with the business.

Get your finances in order for 2009 - Click To Read Article
Over the past 30 days our economy went on a series of “oohs” and “awhhs”. The media is to blame for this massive panic. Everyone is encouraged to turn off the TV and focus on their small business finances for the next quarter – Q1 of 2009 is rapidly approaching, are you going to have the finances to get into the groove?

Strike While the Iron is Hot Using the Recession to Your Advantage - Click To Read Article
These last few weeks of our economic downturn got everyone wound up. From business owners, to CEO’s and back to the consumers – everyone is at a panic about the recession, and the bailout we are in. But what is a recession, really? How is it lack of bailout impacting your life?

Winning the Ohio Lottery or Obtaining a Business Loan What is harder - Click To Read Article
According to Google Trends the top 20 most searched words in December include: Michigan Lottery Mega Millions Winning Numbers Ohio Lottery Georgia Lottery Megamillions.com Russian Roulette (currently 32, but is this a bad sign?)

Turning An Idea Into Profit: Sergey Brin - Click To Read Article
As we go forward, I hope we're going to continue to use technology to make really big differences in how people live and work." - Sergey Brin, Google Co-founder How many business owners know that Sergey Brin, and his cohort, Larry Page quit their college studies to start the infamous Google in a friend's garage? It's inspiring to know that a couple of college guys with the right idea can achieve that kind of success. Lesson #1 – Build Business Credit and Expand the Business Image!

Thousands are getting fired What are people doing in tough times - Click To Read Article
Thousands are getting fired; What are people doing in tough times? The nation is being hit with unemployment. We all know someone who has been affected. What are those people doing about it? What is everyone really searching for right now?

Magic Johnson: Superstar in the Business Arena - Click To Read Article
What does a former L.A. Lakers point guard and five-time NBA champ do when he retires from pro sports? Why he gets an office with an assistant and a $700 portfolio of companies of course!

IRS Tax Information for Business Vehicles - Click To Read Article
The Internal Revenue Service (IRS) offers a section on its website (http://www.irs.gov/) for business with valuable information on how to prepare for and file business taxes. The website provides articles on the latest updates in the tax laws that can make a difference in what you can claim as a business deduction.

Sex, Drugs, and Alcohol - Click To Read Article
Think about it….Dating websites are packed. Professional matchmakers are showing profits greater than landowners. Michael Phelps is getting more publicity with paraphernalia around his neck than 8 gold metals. Local corner liquor stores are packed every night. The economy may be struggling, but these industries continue to flourish.

Social Entrepreneurship - Click To Read Article
Social Entrepreneurship There is a movement across the globe today that says solutions to society's most pressing social issues cannot be left up to the government to determine. Social entrepreneurs are business owners that decide to take on the work of engaging with social problems implementing systems that offer broad-scale change.

ALTERNATIVE ENRICHMENT - Click To Read Article
Alternative financing may be the perfect solution for companies looking for additional means of securing adequate business funding. This form of financing may be used to carry a new venture through its early phases of development, restructure existing debts, or take the business to its next level. Conventional lenders such as banks and private lenders may shy away from riskier businesses and not focus on business credit. Furthermore, an established company may find itself needing additional capital, yet for various reasons is ineligible for a loan.

Diamonds Are A Cereal Marketer's Best Friend - Click To Read Article
When C.W. Post started a small business in 1895 with his first batch of "Postum" (breakfast cereal) he probably did not foresee his company getting into the diamond business. The cereal company has "followed a path of delicious innovation, creating cereals that have defined the breakfast experience for generations of families" and now it has literally put a twist on its "Shreddies" product by offering the cereal in the shape of diamonds rather than squares.

CREDIT BASED VS NON-CREDIT BASED FINANCING - Click To Read Article
When it comes to non-credit based small business financing, the benefits are evident. There is a very good chance you will be able to take advantage of great interest rates as long as your established business credit is favorable. Non-credit based small business financing comes in many different forms and is an excellent way to begin building your relationships with vendors. Many vendors will extend credit without a credit check if you have your Tax-ID number and a few other solidifying factors.

Starbucks Used To Be A Small Business - Click To Read Article
When our forefathers arrived on this continent they brought with them a vision of a new world with thriving commerce and raucous marketplaces. No matter what the media may be pushing on us about the economy, the vision of our predecessors is just as alive today as it was a couple centuries ago. If you don't believe it, then kick yourself next time you're standing in line at Starbuck's waiting to pay $4 for a cup of coffee.

DEBT-TO-INCOME RATIO - Click To Read Article
A small business’s debt-to-income ratio (DIR) is most easily explained as the ratio of a borrower's total debt as a portion of their total gross income. This ratio, more commonly expressed as DIR or simply “debt ratio,” measures how much you can borrow based on your expenses in relation to your total monthly income. Lenders’ experience shows that you may borrow from 33% to 40% of your monthly income, on average.

Jeff Skoll: Doing Good Business - Click To Read Article
Jeff Skoll achieved notoriety as the first president and second full-time employee of the internet auction company, eBay. He became a man with a mission after getting a wakeup call at the age of 14 when his father discovered he had cancer. His father's main regret was that he had not done everything he wanted to with his life.

No Guarantees - Click To Read Article
No Guarantees is one of the cornerstones of Free Market Economics. There are no guarantees. Business success happens through methodical, daily efforts. Healthy competition in all sectors ensures that even the greatest company on earth can be quickly humbled by the next small, innovative enterprise to come along.

Seeing the Big Picture - Click To Read Article
The Fourth of July weekend is a great time to kick back and look around at your family. This is the time of year that most of us stop and see the big picture….the reasons why we work so much; the reasons for putting up with the daily stresses; the reasons for 40-60 hours of labor. It is all part of a bigger picture……it is not the money that we get every other Friday! It is the joy, the memories, the time we get to cherish with our friends and family.

Real Estate Backed Financing - Click To Read Article
Many private investors or alternative lenders will issue financing without any security or collateral, justified through risk mitigation of higher interest rates. However, collateral is not ruled out altogether in alternative financing. On the contrary, many alternative financing options include collateral to strengthen the deal and increase the loan amount. Real estate backed loans are among the greatest in volume and figures, having real estate to use as collateral has many advantages and its own set of limitations.

Alternative Financing in Canada and others - Click To Read Article
Setting up shop in Canada comes with its own set of obstacles and benefits. Statistics Canada reports that 75% of job creation is through small businesses. Getting a conventional loan is one of the biggest challenges. Canada’s major banks have big profits yet are not supportive of small businesses. Venture capital is scarce.

Credit Card Advance Financing - Click To Read Article
For many businesses owners, borrowing money during tough times can be difficult. There is a new alternative to conventional lending practices that is becoming extremely popular. Credit card advance loans are often called many different names, but essentially all do the same thing: provide loans based on the business’s average monthly credit card generated sales.

Advantages of Leasing Equipment, Cars and Machinery - Click To Read Article
Leasing equipment can become very advantageous to a small business owner. The company which finances the equipment retains ownership, while the business owner has the right to use it in exchange for monthly payments. Each lease will have specific terms, but in general, your small business can trade the equipment if it fails, or even switch it for a better model.

Brokers, Dealers, Private Lenders, and Venture Capital - Click To Read Article
A broker is defined as anyone who makes securities transactions for others. (The exception to this is a bank.) A dealer is defined as someone who buys and sells securities for their own account, through a broker or otherwise. Most entrepreneurs are looking for start-up capital and for someone else to raise capital for them on a straight commission, with no up-front fees. Only registered broker dealers, and Bona Fide employees, can legally solicit/sell securities for a company on straight commission, with no up-front fees. They always charge an up-front retainer, sometimes called due-diligence fees, before commencing. This fluctuates depending on the complexity of the transactions. Most brokers/dealers avoid startup and early stage companies. A Bona Fide employee cannot be paid commission from the sale of securities.

Strategic Alliances - Click To Read Article
Strategic Alliances are a strategy for getting what you need for your small business without necessarily incurring further debt. This happens when two or more companies form an alliance while retaining their own identity; in certain cases, a separate legal entity or “joint venture” can be formed to accomplish the same purpose. Each company agrees to commit resources for common business objectives.

Competitive Advantage in a Down Economy - Click To Read Article
Your small business is bound to yield fruit when you keep long-term goals in mind during daily operations. Constant examination of each department that has an integral role in the effectiveness of the business should be monitored for its contribution to the "bottom line."

Billable Hours - Strong Business Credit Options - Click To Read Article
BILLABLE HOURS While the term "billable hours" is most commonly associated with law professions, this concept should be used by all business owners. It's important to set the minimal hourly rate you want to earn as a bottom line.

Uniform Commercial Code - UCC - Click To Read Article
The Uniform Commercial Code, or UCC, is an excellent tool for business owners to protect themselves with small business laws as both creditors and as debtors. Using UCC filings to your advantage can stretch your credit with both lenders and vendors. Likewise, as a creditor, if you keep active UCC filings on your biggest customers, you can protect your business against a client's nonpayment. For example, if you have a nonpaying customer and bring a lawsuit against them, you may wait months for a judgment; and you might not be adequately compensated even if the lawsuit rules in your favor. As a small business owner, you could have a UCC filing from the beginning and prove the debt.

CHOOSING AMONG FINANCING OPTIONS - Click To Read Article
You have a million dollar idea for a small business, enough motivation and drive to launch an effective marketing and advertising campaign, and logistic channels established to get your product or service to the masses. Now the only thing missing is the funding to get your new company up and running through new business financing. If unsuccessful attempts to acquire a traditional bank loan have left you stranded, where do you go? How do you get the funding for your new venture?


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