Dylan Gallagher, ideas and opinions

Are we out of options?

I spend lots of time thinking about the economy and read a story that again talked about the same topics I have seen for almost a decade:

Low interest rates and flat economies

In the greater world around us improvements generally seem to be marginal at best.  No one country is really changing our world and the number of entrepreneurs pursuing true innovation seems to be a limited group.

I personally believe that Continue reading

Dylan Gallagher, ideas and opinions

When is the right time to raise capital?

I have a friend who is pursuing a new direction with his business and was looking for some advice.  His existing business has been operating for many years and he has been boot-strapping his new venture.  It looks like he was able to get validation for the idea and even has a few paying customers.  He has used the cash from his operating business to bootstrap this new venture and it looks like he really has a shot at bringing a very innovative (and disruptive) solution to market.  His challenge is to figure out when he should seek financing to support the opportunity.  He could probably continue to nurture the business along and do well however to really capitalize on the opportunity he needs to pre-pay the expenses that come along with capturing a market.

It’s an interesting question/challenge he poised.  I told him to Continue reading

Dylan Gallagher, ideas and opinions

If Marc, Fred and Bill can talk about it – so can I

That would be Marc Andreessen, Fred Wilson and Bill Gurley (if you don’t know who they are Google them).  As venture capitalists’ they are seeing an environment amongst technology companies who have raised money and are burning through it because they have no understanding that money doesn’t grow on trees.  While I am not in the venture capital business I see an amazing comparison to in my every day activities.

When Lisa and I applied for our first mortgage our interest rate was Continue reading

Dylan Gallagher, ideas and opinions

One year later…

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mlenow.ca v2.0

It has already been a year since mlenow.ca was launched and I am pleased to announce that it has been given a new look and has been re-launched thanks to the folks at TalonX (thanks Nick – www.talonx.com).  While there is still a tonne of work to be done and a never ending wish list of changes to be made we are excited about the coming year and the prospects that mlenow.ca will bring.  We have some exciting partnerships to announce (stay tuned) and would hope that you would connect with us on Twitter, Facebook, Google Plus and YouTube to see what we are up to and how you might be a part of our story.

For those of you that have been paying attention, mlenow.ca was created out of a desire to help people and businesses do more.  Conventional methods for sourcing Continue reading

Dylan Gallagher, podcasts, Small Business Finance

Why wasn’t I approved?

I talk about this often but it’s always good to repeat valuable pieces of information – especially if it saves someone from wasting their time.  One of the biggest misconceptions people have is that their bank has their interests in mind.  I am not saying that banks do not care about their clients but I do think it is important for people to know that banks are businesses not charities.  As such they have a business plan, target customer types, sales goals, profit margins, etc. which all attribute to their ability to help someone looking to borrow money.  Many people think that just because they know their banker they can ask for whatever they want and if the bank says no that they have no other options.  Here is how it really works.

Continue reading

Dylan Gallagher, podcasts

Why is it so hard to talk about needing money?

There seems to be a spectrum that exists for people who need money. On one end of the spectrum are those that think they can tell a bank or lender what their looking for and demand the terms they want. On the other end of the spectrum are people who don’t say anything and assume they are destined to be declined if they step out and ask a bank or lender for money. In either case talking about needing money can be very hard.  Why is this? Continue reading