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If you've ever dreamed of becoming a successful business owner but felt unsure where to start, you're not alone. The journey from employee to entrepreneur can feel overwhelming without the right guidance. Fortunately, there are ways to make the process smoother, from identifying your ideal business model to securing financing. In this post, we’ll break down actionable insights and services that can help you find and fund your ideal business, with expert advice from Beau Eckstein, the host of the Investor Financing Podcast.
The Mission: Helping Entrepreneurs Find Their Ideal Business
Beau Eckstein has over 26 years of experience in real estate lending, and five years ago, he expanded his business to focus on franchise consulting. His team’s mission? To help 100,000 aspiring business owners find and fund their businesses over the next 10 years. The idea is simple but powerful: help people create businesses that align with their goals and passion, whether that’s a franchise startup, a franchise resale, or even a business acquisition.
To support this goal, Beau’s team organizes events such as Business Ownership Summits and niche gatherings for medical professionals and tech workers. These events are designed to educate and inspire aspiring entrepreneurs about the possibilities of small business ownership.
How to Identify Your Ideal Business
One of the most critical steps in business ownership is identifying the right business model. Bo’s team helps entrepreneurs of all backgrounds—whether they’re corporate employees or blue-collar workers—find the business that fits their skills and aspirations.
Beau emphasizes that there’s no one-size-fits-all approach. The right business for a high-earning corporate employee may not be the same as the right business for someone looking to get their hands dirty as an owner-operator. To help entrepreneurs make informed decisions, they offer a robust program and a business ownership quiz. This 10-minute quiz helps you narrow down business ideas that align with your goals, opening your mind to the possibilities of different industries.
Financing Your Business: SBA Loans and More
Once you’ve identified the ideal business, the next step is figuring out how to fund it. Beau’s team specializes in various financing options, particularly SBA loans, which are some of the best financing tools for business owners today. They offer:
- SBA 7(a) Loans
- SBA 504 Loans
- USDA Loans
- Alternative funding sources
These loans are particularly useful for business acquisitions, construction projects, and debt refinancing. In many cases, SBA loans can cover up to 90% of the total project cost, making business ownership accessible even if you only have a small equity injection.
For example, one client used an SBA loan to buy a painting franchise. His total out-of-pocket cost was just over $12,000, and he received SBA financing to cover the remaining 90% of the business cost. This type of financing makes business ownership a reality for many who might not have thought it was possible.
Tax Strategies and Business Optimization
Many business owners face challenges related to taxes and expenses. That’s why Beau’s team partners with CPAs to help clients develop effective tax strategies. They educate entrepreneurs on the benefits of Section 179 bonus depreciation, which allows businesses to deduct the cost of equipment or machinery, reducing their tax liability.
In addition to tax strategies, Beau’s team works with a network of vendors to help entrepreneurs optimize their businesses. This includes everything from expense reduction services to helping entrepreneurs staff virtual teams. These services ensure that business owners can operate efficiently without unnecessary costs, allowing them to focus on growth.
Free Events to Educate and Empower
Beau’s team offers a variety of free events throughout the year, designed to educate entrepreneurs on business ownership, financing, and tax strategies. Many of these events are available online, making them accessible to anyone interested in learning more about how to start and fund a business.
For instance, you can watch past events on the Investor Financing Podcast’s YouTube channel, including sessions featuring expert CPAs and other industry professionals. Topics range from franchise investments to SBA financing strategies, and attendees can ask questions and get personalized advice on their own business ventures.
Conclusion: Take the First Step Towards Business Ownership
If you’re ready to take control of your future, now is the time to explore business ownership. Bo’s team is passionate about helping aspiring entrepreneurs find and fund their ideal businesses, whether through franchise consulting, SBA loans, or tailored business strategies.
You can start by taking the business ownership quiz to identify what type of business may be the right fit for you. If you’re not ready to dive in just yet, consider attending one of their free events to get your feet wet. These events offer valuable insights into everything from financing to tax strategies, helping you make informed decisions.