How to Succeed as an Investor
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SCORE ExpertAnswers
Brian Fried, inventor, entrepreneur, author and host of Got Invention Radio shares his tips on how to succeed as an inventor.
| Q: |
What’s the best way for an entrepreneur to keep a close eye on expenses?
Much like in our personal lives it’s about spending decisions. You can’t always control income, but you can control costs. Look at what you spend, why you spend it and how these expenses affect the quality of what you deliver to your customers. Cut costs where you can. |
| Q: |
When it comes to a business loan what are key factors for reigning in debt?
Look at what you want and what you can afford—the monthly payment, the terms and conditions of the loan and any escalation clauses that may be involved. Also, borrow conservatively. The silver lining of the credit crunch is that people will be less inclined to borrow too much. At least I hope we have learned that lesson. |
| Q: |
What are three secrets of success every small business should know?
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About the Author
Host of "Got Invention Radio," Brian Fried has always had a passion for coming up with new ideas. To date, he holds five patented inventions and has an additional five that are patent pending under his company, Think Up Designs. Several of Brian's inventions have been brought to market through manufacturing, as he has appeared on QVC and also licensing for retail distribution products from kids toys and infant products to kitchen gadgets. His brands have been placed in several retail chains such as Target, and other well known retailers in the US and Canada.
