Day: March 26, 2015

By Parag Nevatia Emotions and adrenaline are usually on a high when one is looking to buy a business or start a new business. Sure enough, being you own boss is the American Dream, so we can understand. However, very often, people get carried away by an opportunity gaping at them, that desire to succeed or the high confidence levels, which at times, become blinders, where they lack the ability to look beyond the rosy-new, ambitious journey that they are about to embark on. That is all great! But what we want to talk about today is the “what ifs” referred to as “risks”, a word that is so very existent in the financing world but most small business entrepreneurs don’t acknowledge or accept it. It’s like that axe that’s always sitting above our heads, and we know it, but we just don’t see it. One wrong decision and everything we created, blows up in front of our face. Projections, that show the ability to pay back, are mixed with that same desire, opportunity and confidence that so often, banks discount a certain percentage of, because they know it. People put a big part of their life savings into starting or buying that business without even thinking about the dangers of running into a wall. What if consumer spending takes longer than expected, will sales be at the projected...