In this episode we gain amazing insights from Entrepreneurs from Richard Guzmano, founder of Business Credit Consultants. Tune in as we discuss Richard's journey into entrepreneurship, how he helps small businesses with financing and advisory services, common mistakes entrepreneurs make with funding, and more.
Main Discussion Points:
- Richard's origin story - Started off delivering items as an independent contractor, then became a dispatcher and started his own delivery company (00:04:44)
- How Richard helps entrepreneurs today - Prepares small businesses for financing, provides advisory services, acts as a fractional CFO, connects businesses with lending partners (00:15:58)
- Biggest funding mistakes entrepreneurs make - Not planning for enough operating capital, using high-interest merchant cash advances (00:24:37)
- Providing well-rounded financial guidance to entrepreneurs - Helping with budgeting, growth planning, debt management in addition to lending facilitation (00:36:54)
Guest Bio:
Richard Gusmano is an award-winning entrepreneur who has a proven track record of owning, operating, and scaling businesses in diverse industries, including Logistics, Health Insurance and Health Care Consulting, Real Estate Development, Manufacturing, and Hospitality. For over ten years, he has been the visionary founder and Lead Consultant at Business Credit Consultants (BCCUSA.com), acknowledged as the Nation’s foremost small business Fintech Advisory for monthly payment credit facilities. Drawing from his firsthand experience of the challenges business owners face daily, Richard’s profound understanding underpins BCCUSA’s approach. The teams’ genuine desire to relate and to empathize with entrepreneurs’ needs fuels their commitment to offer tailored solutions, while fostering strong bank relationships that support and uplift businesses in their endeavors. To transform the outdated lending approach, BCCUSA created Lendotics, a proprietary AI-powered Digital Loan Qualifying System (LQS). It analyzes a business’s financials through a secured platform, giving owners complete transparency regarding their lending eligibility within minutes. The system also predicts the best credit options for business owners and suggests steps to improve credit eligibility.
Company Bio:
Business Credit Consultants prepares small businesses for financing, provides advisory services, and connects entrepreneurs with lending partners. Services include acting as a fractional CFO, helping with growth planning, and debt restructuring.
Key Quotes:
"Really it was where we are now and where we've been since 2011 is a culmination of a career and experience in dealing with all different types of business." (00:09:42) - Richard Gusmano
"The biggest mistake that we see, John, is that when people start their businesses and they got great ideas and they've identified a good market, they haven't really truly identified the amount of capital they need to make it through." (00:28:32) - Richard Gusmano
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