Page 185 - Winning The Credit Game Bundle (CK Patrick)

more rewards, or open a new business credit card that reports to
multiple major credit bureaus and use that to pay some of your
existing invoices?
Remember that this process of building credit is also a
process of building your organizational and administrative
skills. These are essential skills to making strategic decisions for
a growing business, and they will serve you well if you choose to
undertake massive business growth in the future!
I also recommend that you check your business credit reports
before applying for Tier 4 credit or pitching to investors. It’s
always wise to make sure that there are no unforeseen develop-
ments you need to address before making a major financial
move that requires your business to undergo the scrutiny of
lenders and investors.
Because you are now entering a stage in your business devel-
opment in which very large amounts of money, debt, and equity
may be involved, I have one more warning before you proceed.

GET A LAWYER. NOW.

You must have any agreements with lenders or investors
reviewed by a business attorney with whom you have a good
relationship before you sign them.
I will say that again: this is imperative.
Many business owners go without a business lawyer in the
earlier stages of their business to save money. Then, if they don’t
encounter problems as a result, they may be reluctant to begin
paying a lawyer as they take on progressively more complex and
high-stakes business agreements.
However, you must have an attorney look over any agree-
ments with investors, and the more money you invest into
borrowing through other forms of financing, the higher the
stakes will be. This is the ownership and control over your busi-
ness we are talking about here. It is not unheard of for unscrupu-
lous investors and/or clueless business owners to create a
situation where the investor has taken a large degree of owner-

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