[Guest Host] Using Your Home For Business, Part 1

Using Your Home For Business Part. In Blackboard Fridays Episode 66, Justin talks about Business Financials. Need this implemented into your business? Talk to the international business advisor who can do exactly that – Contact Jacob, Learn More, or Subscribe for Updates.

Can you take my confession please? I’ve just learned that I’m not the foremost expert in each and every subject relevant to medium-sized business owners.

So moving forward, I’m excited to be welcoming a few guest hosts to the Blackboard Fridays studio – sharing their collective wisdom to help you achieve your business dreams.

This week (and next) we’ll be talking with Justin Dickinson from HOLO, exploring the different options early stage (and future) businesses have to help fund the launch and early expansion of their business.

JD had this chat with one of my clients recently, and for all the sales and marketing strategy we did that day the most value they received was definitely learning how they could fund their bright ideas.

Watch this week’s episode here, and if you’re a larger business stay tuned for next week’s video.

Who is Jacob Aldridge, Business Coach?

“The smart and quirky advisor who gets sh!t done in business.” Back independent since 2019.

Since April 2006, I’ve been an international business advisor providing bespoke solutions for privately-owned businesses with 12-96 employees.

At this stage you have proven your business model, but you’re struggling to turn aspirations into day-to-day reality. You are still responsible for all 28 areas of your business, but you don’t have the time or budget to hire 28 different experts.

You need 1 person you can trust who can show you how everything in your business is connected, and which areas to prioritise first.

That’s me.

Learn more here. Or Let’s chat.

Transcript

Welcome to Blackboard Fridays, the most popular Australian show involving a Blackboard since Mr. Squiggle was cancelled.

I’ve been hosting Blackboard Fridays since 2016 but this show isn’t about me, it’s about you the aspirational business owner out there taking risks.

So this year, we’re going to start introducing you to some fresh faces, specialists, experts, all empowered by businessDEPOT and it starts this week with Justin Dickinson from HOLO, HOLO as in Home Loans because Justin is a specialist at finding funding for business.

This week, he’s talking about using your home for business.

Hi! thanks Jacob for that amazing introduction. Everyone, I’m Justin, I’m from HOLO

So recently, Jacob spoke to you about the business life cycle particularly the Start Up and the Scale Up phase. That’s what I wanted to talk to you about today. Using your home for business.

Do you remember when you first started your business? If you take yourself all the way back to then and you think about all the things you needed to get your business going. One of those things was obviously your banking, your funding, and all those things that you needed for like your bank account, your internet banking, and that landlord’s lease bond.

But what about the loan, what about the cash? The first place you start is your home. How do we do that? We take your home and think about the line you’ve got against it. You’ve got some equity but we need to unlock it.

What’s the best way to do that? Well, at HOLO we talk about getting to par. Getting to par, getting your plan, getting your advice and getting your review. Your plan it’s when you’re putting it all together.

You’ve spoken to Jacob and got some advice on how to get this business going, how to get it started. The advice, you’re needing, you’ve spoken to an accountant, you also should speak to a finance professional or a broker.

Then your review, talking about your home with that broker and reviewing what you’ve got so far because depending on your personal circumstances, you can use this little baby for things like using it as security for a business loan take an additional loan on the home itself restructuring your existing loans that you’ve got to free up some cash flow or at worst, saving some money by getting a better deal at a new bank with a lower interest rate.

Obviously, the best place to start is your current bank but of course, they’re one bank with one loan. We would suggest as part of this advice and going to a broker, you can find the brokers have more loans, more choice to help find the right solution for you in this situation.

So when you’re getting ready to start a business, think about getting onto ‘par’. Talk to the awesome team at businessDEPOT and talk to HOLO. Good luck!

Next Steps

Want to learn more about how this can apply to your business? It costs nothing to chat:

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