Hello Mrs. Robinson
Hello. How are you?
I’m fine thank you.
I’m glad. Are you ready to see the property?
Yes. I’m very excited.
Good. This property is two acres and it is in a very nice part of town.
What is the zoning of this property?
It is zoned for commercial or residential use.
That is good.
What do you plan on using it for?
I plan to build a shopping mall and sell it.
That sounds like a good idea.
What is the current property value?
Right now it is $500,000. Would you be interested in investing in this piece of property?
It sounds like a good price. I need to think about it.
It is a good price. This investment would be a great way to build equity.
I would need to get a mortgage. Do you offer mortgages?
Yes we do. You can get a 10-year mortgage or a 30-year mortgage.
I would prefer a 30-year mortgage.
Our 30-year mortgage rate is 2.5% right now.
That is a good rate!
You are right. It is a very good deal.
I think I will invest.
Excellent! I will bring you the contract tomorrow.
No. Thank you, Mrs. Robinson. It was a pleasure to do business with you.
I am worried about my business.
Why, what’s wrong with it?
I do not have enough customers.
Are you advertising?
Yes, I have advertised with fliers, newspapers, magazines and billboards.
Have you posted anything about your business online?
No, I did not think that anyone would see my business on the internet.
That isn’t right at all, many people would see it!
I thought most people use the internet to talk to each other.
The internet has become a very big market for e-commerce.
What is e-commerce?
E-commerce is any business transaction that is done online instead of in person.
Do you really think that it would help my business?
Yes, it will help you to reach many more customers.
How do I start?
The first thing you should do is set up a website for your business.
I don’t know how to make a website.
Then you can hire someone to do it for you.
What do I do after I have my website?
Then you can list your products on it.
How will that help my business?
What does your business sell?
My business sells clothes for children and babies.
When someone goes online and searches for children’s clothes, they will see your website in a list of choices.
And what happens if they choose to look at my website?
They will see what you are selling and if they like something, they will buy it online.
This is wonderful! I can use e-commerce to reach customers that are not in my town.
Exactly, and the more customers you can reach, the better your business will do.
I am so excited that my small business is opening tomorrow.
What kind of small business are you opening?
It is a little restaurant in downtown.
Are all small businesses restaurants?
No, a small business can be anything from a grocery store to a lawyer’s office.
So it is not defined by the kind of business it is.
No, a small business is defined mainly by how many people are employed.
What is the largest numbers of employees you can have?
It varies by country, but in the United States, if you have less than 500 employees, you are considered a small business.
What are the advantages to owning a small business?
I can be my own boss, make my own financial decisions, it costs less to start up and I will have a closer relationship with my customers.
But what are the disadvantages?
There is a higher risk of failure if the owner does not prepare wisely, and bigger businesses can influence your success.
What happens if a bigger business moves in right across the street?
My customers will either stay with me or go across the street.
But isn’t that what destroyed a lot of the small business in America?
Yes, but that is why my restaurant is downtown, to stay away from the bigger businesses.
Where did you get the money to start your restaurant?
I have been saving my money for five years to start it.
Is there any other way to get money to start up a small business?
Yes, you can receive a grant from a private organization or a loan from a bank.
Is there anyone that can help me get a loan?
The Small Business Administration in the United States has programs to help new owners secure loans for their small businesses.
I think I would like to open an ice cream shop.
You should! Having a small business of your own is very rewarding!
I want to start my own business, but I need ideas for raising the money.
There are many ways to raise money for your business.
What ideas do you have?
Well, first you should look into different start up sources.
I have looked in my community for resources available to me, but have had no luck.
Then you should inquire at your bank for a business loan.
I did try to get a loan from my bank, but they do not want to help me.
Then you should definitely market your idea to a private investor.
I don’t want to rely on someone to guarantee my loan.
Well, if you have a product that you are sure will make money, then look into royalty financing.
What is that?
You will provide the proof of your future sales to secure a loan now.
That is a much better idea, I’m sure I will be able to get a loan that way.
After you have your loan, what else will you need?
I am looking for an office and I am also going to need a lot of special equipment.
You can just lease the items you need until you can afford to buy them.
Well that makes me feel better.
What other obstacles are you facing to raise money for your business?
I’m afraid that once I get started, it won’t make enough money.
Then you should consider selling shares of your new company to the public.
How will that help me?
If more people are financially invested in your business, they will be more concerned about it succeeding.
That is a wonderful idea, but what if I can’t find enough people to buy shares?
You can always look into angel investors, but it will mean giving up a portion of your company.
Well, if they can get my business of the ground and keep it running, it would be worth it.
Good luck with raising money for your business.
Thank you for all of your great ideas.