Financial advisor, Bruce Mack, joins Mark on today’s show to talk about the Asset Protection Tax Mitigation Trust.

Bruce, who is also a real estate investor who has done over 102 million in transactions, founded the company Platinum Financing Group to plug a hole he found in the funding boat after seeing so many investors lose out on deals because of the lack of financial solutions available to them.

Listen in as the guys dive deep into those funding solutions along with:

-Fund protection
-Why corporate credit is not a workable solution for real estate investors
-Trusts and how not to be classified as a dealer
And, so much more on today’s episode of The Art of Passive Income!

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Funding is the lifeblood of any business; without it, businesses will sink. Knowing how to raise and manage finances is a crucial aspect of any successful business. However, no matter how well-prepared or well-funded a business is, it’s not immune to unexpected financial setbacks. When these setbacks occur, a business may find itself with a hole in its funding boat.

This funding hole can be caused by many factors, such as unforeseen expenses, a significant loss of revenue, limited access to financing, or poor financial management, to name a few. Nevertheless, there are ways to fix this hole and stay afloat. Below are some practical tips on how to overcome the funding challenges your business may face:

1. Assess Your Financial Situation

The first step in fixing the funding hole in your business is to assess your current financial situation. Determine the extent of the financial damage and the root cause of the funding shortfall. Identify areas where your expenditure can be minimized and where the revenue can be maximized.

2. Start Planning and Budgeting

Having a solid financial plan will help you to identify the financial goals of your business and consistently track performance. Create a budget that outlines the funds needed for the business activities, including income generation, expenses, and investments. Your budget should be based on realistic sales forecasts and expenditure projections.

3. Investigate Alternative Funding Sources

If the hole in the funding boat seems too big to fix with existing finances, it may be time to seek out alternative funding sources. Venture capitalists, angel investors, and government grants may provide a lifeline for your business, but make sure you do your due diligence before accepting their terms. Alternatively, consider other sources like crowdfunding, credit lines, or peer-to-peer lending.

4. Seek Professional Help

If you are struggling to secure funding or manage your finances, consider seeking the help of a financial advisor or accountant. They can help identify areas of concern and develop a plan to get your business back on track towards profitability.

5. Focus on Cash Flow Management

A profitable business may not necessarily be a successful business. The key is monitoring cash flow and managing it effectively. This means keeping a close eye on incoming and outgoing cash, and ensuring there are adequate reserves to handle unexpected expenses.

Conclusion

Fixing the hole in the funding boat is never an easy task, but it is critical to the survival of your business. With careful planning, budgeting, and a little creativity, there are always ways to get the funding you need to keep your business afloat. Remember, a comprehensive financial plan and a strong focus on cash flow management are critical keys to success. Whether you decide to seek professional advice or explore alternative funding sources, always keep your goals in focus and do everything within your power to reach them.