The Chris Voss Show Podcast – Mastering Business Credit: Michael Sean McCall of Kennesaw’s Expert Insights

Mastering Business Credit: Michael Sean McCall of Kennesaw’s Expert Insights

Assurancebusinessconcepts.com

About the Guest(s):
Michael Sean McCall of Kennesaw is the Executive Vice President at Assurance Business Concepts and McCall Business Capital. With extensive experience managing corporate credit and alternative financing, Sean offers a hands-on perspective essential for business owners looking to separate personal and business finances. Through his personal journey, Sean provides actionable insights into corporate credit, alternative funding, and preparedness that resonate with both entrepreneurs and business professionals. He assists in the development of business financial strategies that create stability and opportunities for growth.

Episode Summary:
Join host Chris Voss in this enlightening episode with guest Michael Sean McCall of Kennesaw, as they delve into the intricacies of business credit and financial management. The episode sheds light on the critical importance of separating personal and business finances, offering entrepreneurs invaluable advice on creating a future-proof business credit profile. Sean shares his entrepreneurial journey, highlighting both the struggles and the strategic moves that can make or break a business.

In this insightful discussion, Michael Sean McCall of Kennesaw emphasizes the necessity of proactive financial planning for business owners. Drawing on data that underscores the prevalence of cash flow issues among small to medium enterprises, he provides practical solutions to avoid common pitfalls. Key topics include developing a robust business credit score, utilizing alternative financing options, and preparing for unforeseen financial challenges. Sean also discusses the process of becoming bankable and underscores the value of setting up safety nets when they are not urgently required.

Key Takeaways:
Separate Financials: Ensuring the separation of personal and business finances is crucial for credit building and legal protection.
Proactive Planning: The best time to secure business funding is when you don’t need it, allowing for better terms and preparedness for unexpected events.
Building Business Credit: Intentional and strategic actions are required to develop a strong business credit rating to leverage for future growth.
Navigating Financial Challenges: Preparing for financial challenges includes having alternative financing sources and clear strategies in place.
Transferable Credit: Strong business credit can be transferred within family lines or between key employees, enabling smoother business transitions.

Notable Quotes:
“Business credit has to be done intentionally. It’s not like personal credit, which builds automatically.”
“The best time to get a loan is when you don’t need it. Because everybody wants you.”
“If you own a business, you’re going to need money at some point.”
“82% of businesses fail because of cash flow.”
“Cash flow problems don’t announce themselves. You’ve got to be prepared.”