Business financing expert, Chris Hurn, released his first book ever, The Entrepreneur’s Secret To Creating Wealth: How the Smartest Business Owner’s Build Their Fortunes, to help small business owners finally realize financial freedom. Hurn believes that it is “the entrepreneurial spirit makes America great.” This is why he has decided to share his wealth-building strategies with other business owners across the country. He takes from his own personal experience as a small business owner, as well as a small business lender to share what he refers to as the secret to creating wealth. He knows how to help business owners not just build a successful business, but to create a business investment portfolio that leads to long-lasting wealth.
Hurn, realized that there were already many different resources available to help small business owners build and grow their business. Most of these resources cover topics like how to market your business, hiring the right employees, providing great customer service, and how to build your customer base. While all of these topics are important to building a successful business, none of them show business owners how to create wealth that goes beyond their day-to-day needs. This is why he decided to write this book, and share with others how to create wealth through equity. It is this type of investment that helps people go from being a good business owner to a great and wealthy business owner.
Hurn says, “small business owners are often focused on growing their profits through greater income.” While this is part of a good business plan, it is not the only part, as Hurn explains in his book that “for lasting wealth, there are several simple things that they (business owners) can be doing.” He reveals these “simple things” in his book, which provides valuable insight as to how business owners can create their own wealth. Topics in the book include advantages of owning commercial property, finding the right commercial property, choosing the best commercial broker, how to find the right business loan, understanding the secret of SBA 504 loans, and how to successfully work through the business loan process.
Commercial Property: Ownership Versus Renting
Hurn begins the book by sharing with the reader what he considers to be the key to creating wealth – commercial real estate. He takes the reader through the process of revealing the advantages of purchasing commercial property for their business versus renting. The book makes it clear that to understand why, after three to six years as a small business owner, it is time to starting looking for affordable and effective ways to purchase commercial property for their business. This section is important because it helps the reader understand how they can generate lasting equity for their business that does not depend upon income from sales.
Finding the Right Commercial Property
When making an investment in commercial property, it is vital that business owners choose the right type of property for it to generate wealth. Hurn has spent years helping business owners located and invest in the type of commercial property that is going to build and strengthen their business portfolio. He uses this experience and the experiences of other business owners to help the reader understand how to find the right type of commercial property that will work best for them. He reveals several tips and techniques to help the reader understand what to look for in commercial property and how to determine when to buy and not to buy commercial property.
Choosing the Best Commercial Broker
Hurn also explains to the reader how important it is to find the right commercial broker to work with them. He provides several tips to help the reader identify what type of commercial broker they should use when looking for commercial property. He gives the reader valuable step-by-step instructions on how to find a broker who will truly work for them instead of a broker who is only concerned about making a deal. This is a very important step, and can make the difference between making a very lucrative deal that generates wealth for their business, or just simply making a typical financial investment.
Finding the Right Loan
After the reader is introduced to the idea of creating wealth through investments in commercial property, the book goes into detail about the various types of business loans available. Hurn points out that many business owners erroneously turn to their local banks when financing their commercial property. While this may seem like a logical step, Hurn reveals in his book why banks may not be the best solution for most business owners. In fact, he points out that there are better loans available that will help business owners grow their wealth faster and more efficiently. He uses his vast experiences in business financing to share a little known secret with business owners across the country – the SBA 504 loan.
SBA 504 Loans
Many small business owners have either never heard of a SBA 504 loan or do not fully understand the how this type of lending can help create lasting wealth. The SBA 504 loan is managed by the Federal Small Business Administration, and provides financial solutions to businesses in the United States. These loans are typically offered with significantly lower interest rates than loans financed through a bank. Hurn goes into detail about these loans in his book, The Entrepreneur’s Secret to Creating Wealth. He helps the reader understand all aspects of the SBA 504 loan and shows them how they can use this platform to create a wealth through equity for their business.
Understanding the Loan Process
The Entrepreneur’s Secret to Creating Wealth provides the reader with a very detailed look into the commercial property loan process. This guide is designed to help the reader understand the different aspects of the loan process, so that they can make the optimal decisions that work best for their business. Hurn also provides excellent tips on how to apply for a commercial loan and get the financing necessary to purchase commercial property. He uses his years of experience in business lending to help the reader learn the tricks of the trade, so that they too can create their own wealth. Using these tips and techniques can literally make the difference between gaining approval for a commercial loan or not.
This book is laid out in a very clean and concise way. It covers all aspects of purchasing commercial property, as well as, how to use that property to create wealth. Each chapter is designed to provide the reader with step-by-step instructions on how to turn their business into a wealth-building investment. Each chapter concludes with a questions and answers session with a successful businessperson, who has been able to generate wealth by using Chris Hurn’s wealth-building strategies. These sections provide useful, real life tools that the reader can use to help build their own wealth portfolio.
About the Author, Chris Hurn
Chris Hurn is the co founder and CEO of Mercantile Capital, an investment firm that specializes in small to mid-size business lending. He earned his Master’s Degree from the University of Pennsylvania, and is also the co founder, CEO and chairperson of the Kennedy’s All-American Barber Club. It is this education and experience that provides Hurn with the understanding of how to help other business owners create their own wealth. He has a deep understanding of various businesses lending option, and specializes in SBA 504 loans. His business, Mercantile Capital has helped businesses finance over 318 million dollars in investments, this year alone. He has been featured in several well-known publications, such as the New York Time, the Bloomberg BusinessWeek, and the Huffington Post. He has also appeared several times on Fox Business News and the PBS special, Nightly Business Report.
The Entrepreneur’s Secret to Creating Wealth is already receiving rave reviews, particularly with small business owners. Readers are impressed by the amount of useful information in the book, and how it is laid out in an easy-to-understand format that allows business owners to go step-by-step through the wealth-building process.
Author of the New York Times bestseller, Secrets of the Millionaire Mind, T. Harv Eker, claimed that “If you want to learn hands-on strategies for your own financial freedom, then you should devour this book.”
Another reviewer of the book, Jay Goltz, who owns five businesses in Chicago, stated he has used the wealth-building strategies in this book three times and “was able to both expand his business and add another revenue stream that builds over the years. In the long run, the results is a dramatically improved net worth.”
This book is simply a must have for any small business owner who wants to take their business to the next level. The tips and techniques shared in the book are designed to help any business owner create wealth that will provide them with financial freedom. These techniques work even with the current state of the economy, and will actually provide the security that small businesses need to withstand any future economic downturns. The Entrepreneur’s Secret to Creating Wealth is perfect for every business owner who wants to transition from owning a good business to having a great business, that is creating not just income but real substantial wealth.