A lot of entrepreneurs have no idea they have business credit profiles, and miss opportunities to access business funds. Why is business credit such a game-changer for agents? How do you build it from scratch? On this episode, Ty Crandall goes deep on building your business credibly, and the routes you can take to access lines of credit.
Everything we figured out that was right came at the tail-end of catastrophic failure. -Ty Crandall
Takeaways + Tactics
There are two ways to build business credit: vendor credit accounts or the cash-credit method.
Think of credit building in stages, you’ll need a total of 10-15 trade lines so you can move into fleet and cash credit.
Building and scaling up a business is all about the process of learning from failure and continuously reapplying those lessons.
At the start of the show, Ty told us how approaches video, and how he uses Periscope. He also shared how he humanizes the subject of business credit on his videos. Next, we shared on the power of live streaming, and the tools you can use to engage with people. In the second half of the show, Ty went into detail about business credit, and why it’s necessary for entrepreneurs to work on their profiles. Towards the end of the show, he shared what he’s learned from scaling up his own business.
Ty also shared insights on;
What people like about live streams isn’t just looking into what we’re doing, it’s being able to engage with us. -Ty Crandall
Spend as little money as possible, and get as much out of the world as possible. -Ty Crandall
Business credit has been the downfall of many entrepreneurs. It determines whether you can get the funding you need to ramp up, scale and invest. It will fuel your business, and protect you from personal liability. Be aware of your profile and credit score, and start building your vendor credit accounts. Credit can inject your business as you grow, so you have the platform to learn, improve and build on that.
Ty Crandall is an internationally known speaker, author, and business credit expert. With over 16 years of financial experience Ty has become the authority in business credit building, business credit scoring, and business credit repair. Ty has become one of the most well-known, world renowned speakers regarding business credit building and scoring. He has been booked for speaking engagements in many states across the United States and international speaking engagements as far as Singapore. Ty is also one of the most popular speakers at bi-annual Credit Boot Camp in Tampa FL, the largest event for credit professionals. Go to http://www.creditsuite.com/ for more information.