As a small business owner you have a responsibility to check out everything that you hear that pertains to your business. When you are promised something, get it in writing; potential customers that you are counting on, who don’t come through; lenders that won’t provide the working capital that they said they would make available to you.
The same holds true with City, State and National Government; when you hear something that sounds to good to be true, it usually is not true. This morning’s paper had a prime example. For the past year we have been hearing how the “government ” will help with loan modification so that people can keep their homes. The truth is that only one Arizona homeowner has obtained a loan modification under the year-old plan because banks have refused to participate.
No homeowners have yet received loan modifications through similar federally backed programs in California and Nevada. Yet we have been told that millions of dollars are available for these programs.
I sat in on a meeting with several real estate lenders this morning and listened to the long list of new regulations that have been imposed on them that will make home loans more difficult to obtain.
As a small business owner, base all your decisions on facts. The extra effort you put forth to verify everything that you may rely on for business growth, will pay off as you grow your business.
Nothing can be more useful to a man than a determination not to be hurried.