TL:  Welcome to Heartrepreneur Radio with Dr. Terri.  I’m excited that you’re tuning in, and thank you for tuning in each and every week.  Now, today I have on a special guest and her name is Tiffany Wright, and let me tell you a little bit about her before I bring her in.  She has helped numerous small and medium businesses find funding for a variety of purposes through many, many sources.  And, I’ve asked her to come here to talk with us today about how you too can generate the business financing that you need to grow and achieve your business goals.  I also want you to know that Tiffany is the author of the book:  The Funding is Out There! Access the Cash You Need to Impact Your Business.  I just get goosebumps sharing that, so whether you’ve got a $300,000 transportation business, a 20 million business services company, or maybe you’re an aspiring entrepreneur and you’re looking at options, Tiffany Wright has the information and the strategies for getting your business needs financed.  So, without further ado, Tiffany, welcome to Heartrepeneur Radio!

TW:  Hello Terri, thank you for having me.

TL: Well, I’m excited because one of the questions that I do get asked a lot is: what do I do?  I need to get some money, I want to spend money on marketing or bushiness growth, or I want to hire somebody and I just don’t have the funds.  Do you have any ideas?  And quite frankly, it’s not my area of expertise, and thank goodness it is yours. So, start us off.  First of all, how did you even get into this?

TW:  Well, I served as a business advisor to a number of companies.  And, some approached and asked me how do I get funding?  But, many said I can’t get funding, I can’t, I can’t, I can’t.  I said first of all, didn’t your parents teach you, you don’t say I can’t?!

TL: I love that!  Yes, definitely!

TW:  And second of all, there is funding out there, you just have to think differently about your funding, ok?  If you got turned down by one bank, then maybe your business isn’t ready for banking, or maybe it’s the wrong bank that you went to.  But this is what I always say:  first step back and determine what you need it for, and then how much you need.  So, in that order.  What do you need, so what do you need the money for?  And then, how much is it?  Because that will help determine what types of funding is out there for you.  So, I just got frustrated for everyone else that was new, but for me, I started to sound like a broken record.  I mean, I literally speak at the events and I would have clients come in, it was just the same thing.  So, after about 40 of 50 people, I had some advisors and my Dad, who said you should write a book, so that’s what I did.

TL:  Wow!  I love that, I love that! That’s awesome.  I always wonder what has people drive to write the book, and how do they get it done, and why did they get it done.  But, thank you for sharing that, I just love hearing that. So, I love this:  what is the need, what do you need the money for, and how much?  And you know these seem like simple questions, but I have to say I know from talking to people, that sometimes they really don’t know what they need it for, and they don’t even know the amount.  So, I love that you’re helping people start out with that kind of clarity.

TW:  Yes.  Here’s the thing.  If you say I need $20,000.  Well, what do you need it for?  Well, I want to do a little bit of marketing, I want to do a little bit of development, and I need money to pay the rent.  Ok, well how much do you need in each case?  Because if you’re a growing company and you need a million and a half dollars to hire a number of people, develop software and so on.  Well, it maybe you can get one and a half million from and angel round of funding.  Or it could be that if you have enough cash flow you could get part of that from a bank, part of that from investors, part of that from the, depending if you’re doing development, through one of the government funding programs.  But, if you’re small and you don’t have the historical cash flow, your options are more limited.  It is true that when you have cash flow and you have profitable history behind your business, it is easier to funding from just about every source.  But, if you don’t then you can be creative and you can think about marketing.  But, maybe if there’s someone I could co-market with, and maybe it’s an additional add-on offering for them, so they’ll pick up the tab.  So, that’s what I mean by, you need to know what it is you need.  Rent.  People often enter into leases of where they have more space than they need at that time, so you could sub-lease at a much lower rate than getting an office building yourself.  So, there are the other options that you have to reduce or have your cost covered by someone else, and that’s alternative financing.

TL:  I love it.  So, how does the business owner really know if they need alternative financing?  Like, when do we say I have to do this?

TW:  Well, generally, unless you can get someone to co-market or sponsor, or something like that.  Or even swapping or bartering, it’s a generally accepted accounting principle, it’s recognized by that.  But, if you need $50,000 or more, and you’ve had difficulty obtaining funds from a bank, you have “iffy” credit or your business doesn’t have credit, then I would consider alternative sources.  But, that could also be supplier financing.  People don’t realize that your supplier may not just give you terms thirty to sixty days, they sometimes will finance inventory, or supplies, or 6-months or longer.  So, if you have difficulty, that’s when you start to think about alternatives.

TL:  Perfect.  So, let me ask about one alternative that shows up a lot, what about PayPal?  They offer I think its 0% down, 0% financing.  What do you think about that?

TW:  I like PayPal, I actually do have a line of credit with PayPal.  PayPal is focused on business customers, so they typically don’t report on your personal credit.  So, I would say build up your line of credit through PayPal as much as you can.  I mean, if you have a $5,000 or $10,000 line of credit, you can use that to buy a lot of the supplies, travel and song through PayPal.  Lots of entities use PayPal, that’s a very viable option.

TL:  Thank you for that.  So, let’s say somebodies listening and they’re thinking ok, I think I do need this.  I know the what, I know the how much.  What’s a couple of action steps that they can take?

TW:  The first thing that they should do is write up an executive summary.  If you need money from anyone, even if you’re approaching a marketing partner or someone like that, it’s good to have what you need if for mapped out.  So, the process of writing a 3-page executive summary really helps you.  You basically put a description of your business, what your business does, where you see your growth happening, what funds you need and why, and where you think you’re gonna get it from.  And, going through that process helps you to identify other issues you might not have thought about, and helps you to be able to articulate it.  Because, there’s been so many times when I ask people what do you need, or why do you need it? And, eh, eh, eh.  You might run into someone who could help you, but if you can’t quickly tell them what you need or why you need it, then you’ve lost that opportunity.

TL:  Perfect.  Oh, that’s so well said, so well said.  So, how can people get your book?  How can they get in touch with you if they really want to move forward?  You’re the gal.  I don’t have somebody else that knows this, I’m so glad they we have you here at Heartrepreneur Radio!

TW:  Thank you Terri, I appreciate that.  They can get my book at,, Books A Million.  They can also reach me, if you need to reach me at The Resourceful CEO, that’s  And, you can just contact me through the contact us page, and I always respond within 24 hours during the week.

TL:  How perfect is that?  Great. So, give them the name of your book one more time so they have it.

TW:  Yes:  The Funding is Out There!  Access the Cash You Need to Impact Your Business

TL:  I gotta say Tiffany, that is a fabulous name!  That is just a great name, awesome.  Well, I sat here and I jotted down notes that are gonna actually helps some clients, and I’m gonna share this with people.  Thank you so much for being my guest here Tiffany Wright, at Heartrepreneur Radio.

TW:  Thank you so much for having me Terri, I appreciate it so much.

TL:  You’re welcome.  And then for our listeners, please make sure that you subscribe to the show so you never miss and exciting interview.  Like this one with Tiffany Wright, who gave us so much value and really helped you with your business ideas and how to get them funded.  And to really get clear on what it is you need, and how much you need.  I learned a lot, I’m sure you did too. So, tune in to Heartrepreneur Radio, share the show, and we’ll see you next time.  Bye for now.