Leo Kanell, founder of 7 Figures Funding, shares tips on securing funding with 0% interest rates. Topics include leveraging mentorship, navigating funding options, and qualifying for financing with minimal credit impact. Learn how to start a venture without initial funding by utilizing diverse financing strategies.
Read more
AI Summary
AI Chapters
Episode notes
auto_awesome
Podcast summary created with Snipd AI
Quick takeaways
Personal credit history crucial for business financing without financials.
Mentoring and extra funding essential for implementing growth strategies in business.
Deep dives
Changing Perceptions on Business Debt
Many believe that starting a business with debt is detrimental, but successful companies like Under Armour, Starbucks, and Nike have thrived with initial debts. The podcast challenges the misconception that business and personal debt are the same, highlighting the importance of financing for entrepreneurial success.
Challenges in Obtaining Funding for New Businesses
Getting funding for new businesses is extremely challenging and only works for about 5% through traditional methods like venture capital or bank loans. The episode emphasizes that 90% of new business owners struggle to secure financing and stresses the importance of finding alternative funding sources to launch products and services.
Creating a Funding Formula for Success
The podcast introduces a funding formula inspired by successful entrepreneurs like Sam Walton, focusing on building personal credit, fostering relationships with lenders, and understanding different financing options. By following this formula, entrepreneurs can access 0% funding, receive business coaching, and increase their chances of business growth.
From the archive: This episode was originally recorded and published in 2021. Our interviews on Entrepreneurs On Fire are meant to be evergreen, and we do our best to confirm that all offers and URL's in these archive episodes are still relevant.
Leo Kanell and his team have secured funding for thousands of entrepreneurs for hundreds of millions of dollars. He’s the founder of 7 Figures Funding and authored The Business Funding Formula.
Top 3 Value Bombs
1. Mentoring and coaching helps business owners so much. They not only need to pay for coaching, but they also need to have the extra money to implement the growth strategies.
2. In order for a business that doesn’t have financials to get financing, we need to look at the individuals personal credit history.
3. A mixture of different financing types on your personal credit will be pivotal in qualifying for the 0 percent interest rate.
The Business Funding Formula - Get Your Free Pre-Approval From our Proven Funding Marketplace… with Rates as Low as 0% for up to 20 Months!
Sponsor
HubSpot With HubSpot’s customer platform you can spend less time switching between systems, and more time on growing your business. Visit HubSpot.com to learn how HubSpot’s customer platform can help you grow your business
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode