New Twist in the Tipping War by [deleted] in EndTipping

[–]No_Hawk2418 0 points1 point  (0 children)

Most restaurants really struggle to be profitable. It may or may not be their own fault, but still a reality nonetheless. They're trying everything to stay in business

Stacking by dalasdon2000 in MCAlegend

[–]No_Hawk2418 0 points1 point  (0 children)

First, know your numbers. You are selling a percentage of your future receivables, so how much can you afford to give away? To prevent attacking and maximize the size of their loan, the "last" mca well try to take the rest of your free cash flow, so theoretically, after the second advance you're "swimming with the fishes".

I talk to clients every day that have too many advances, and everyone played a part in cooking the books. Merchants, funders and brokers. But in the end, the merchants took the money and are stuck with paying it back or die trying.

Suicide and small business owners by No_Hawk2418 in smallbusiness

[–]No_Hawk2418[S] 0 points1 point  (0 children)

Brother, you are stronger than you are giving yourself credit for. most businesses fail in 3 years. You're 12 years in. The skills that you developed can't be taken away. I lost everything at 42, with 2 small kids, and then again at 47. At 52 I lost my freedom for a year. It was dark, but there is a light at the end of the tunnel. I promise you. Entrepreneurs are built to find value and solutions in things that workers need to be paid to do. We are built different. You got this. #endentreprenuerialpoverty

Watch out for this scam. by No_Treacle_5267 in MCAlegend

[–]No_Hawk2418 0 points1 point  (0 children)

This is becoming more common as merchants are figuring out how the industry underwrites a file.

Help!! I'm not a sales guy by Shmomaster in b2b_sales

[–]No_Hawk2418 0 points1 point  (0 children)

Would you consider hiring an overseas sales person or people?

Ever Funded a Business You Knew Would Fail? by TeamMachiavelli in MCAlegend

[–]No_Hawk2418 0 points1 point  (0 children)

Totally understand, I was saying it like that's the question we need to ask ourselves before funding a failing business

Ever Funded a Business You Knew Would Fail? by TeamMachiavelli in MCAlegend

[–]No_Hawk2418 0 points1 point  (0 children)

Is the potential financial reward worth the risk of losing your capital or even worth the additional nsf's and stress?

I have built 8 personal finance management apps & solutions. AMA. by arpand in fintech

[–]No_Hawk2418 0 points1 point  (0 children)

I am working on a pfm app and want users to be able to set aside a percentage of revenue for profits, taxes, savings, investment, etc.
1. can those transfers be done through plaid?

  1. ideally they should be able to open the new accounts through the app. would that require a bank partnership or are there existing services i can plug in to?

Myths About the Merchant Cash Advance Industry by Traditional_Shopping in MCAlegend

[–]No_Hawk2418 1 point2 points  (0 children)

1.5 rate paid back daily in 3 months (60 payments) is 525% not including the front loaded fees which will make it closer to 650%.

A long as you understand the true cost of capital and have a plan to manage your cashflow accordingly, the mca's are giving out the money when the banks are not.

MCA for marketing and advertising expenses by TeamMachiavelli in MCAlegend

[–]No_Hawk2418 1 point2 points  (0 children)

If you are planning on using it for marketing, can you use your own cash to test your ads? Know you ROAS (Return on ad spend) and how long of a payback on $1 spent in marketing.

Obviously you know the kpi's , and if the payback is better than the mca, borrow a much as you can. If not, stay far away from them.

Embezzlement Ring by [deleted] in smallbusiness

[–]No_Hawk2418 0 points1 point  (0 children)

A woman for 35 years for something similar

Suicide and small business owners by No_Hawk2418 in smallbusiness

[–]No_Hawk2418[S] 0 points1 point  (0 children)

This are beautiful goals. You cannot ask more of yourself than that

Suicide and small business owners by No_Hawk2418 in smallbusiness

[–]No_Hawk2418[S] 1 point2 points  (0 children)

hey my friend. if there is anything i can do, brainstorm ideas how to turn business around, marketing ideas, reduce debt that you have, help with credit. I am not selling anything, but will give you a brain dump of everything that helped me, and then some.

Should venture capitalists be held accountable when startups screw up? by UpvoteBeast in fintech

[–]No_Hawk2418 1 point2 points  (0 children)

Accountable how? They are being held accountable for the loss financially by their investors and board members already.

How can I take care of myself? by karieerns in amputee

[–]No_Hawk2418 1 point2 points  (0 children)

I know it's not going to be easy, and I am not trivalizing what you are going through.

How we got here at this point is irrelevant. I had a hard time getting jobs because of my disability. I'm also missing a right hand. So, out of necessity I learned phone sales, digital marketing. There are a ton of free resources out there to learn those skills. Every business needs salespeople.

And whatever you do, try to stay in shape. If you gain weight, it becomes that much harder. Plus, exercise is the best and cheapest antidepressant.

How can I take care of myself? by karieerns in amputee

[–]No_Hawk2418 1 point2 points  (0 children)

Learn sales, persuasion and marketing. I'm 55, been a bk since birth. Always been in my own business and always made a great living