SAN DIEGO, CA / ACCESSWIRE / October 20, 2020 / Serial Entrepreneur, former professional athlete, and financial coach, Jack McColl has leveraged business credit to create four 6-figure businesses and travel to 23 countries.
A business graduate from the University of Washington, Jack had created and sold multiple successful businesses by the time he was 25. These businesses include Glidr, the first US-based hoverboard company, Dumbo Lounge Sacks, inflatable air hammocks that were massively popular at music festivals over the last few years, a travel company, Sendit Cabo, that was acquired by the industry leader in student travel for a very lucrative payout, and most recently an E-commerce store at a 7-figure run rate. After the acquisition of the travel company, Jack spent a few months traveling the world before going full time into financial consulting, aimed at equipping others with the same secrets he'd used to launch and scale back to back successful businesses.
In the last 12 months Jack has been approved for over $250k in credit lines, most at 0% interest, while maintaining an 805+ credit score across all three credit bureaus, a feat that the average person cannot do.
Today, Jack has helped hundreds of clients optimize their personal credit, leverage business credit and build strong relationships with key lenders to receive maximum funding at 0% interest to start or scale a business. When Jack looks back on his last 5 years of prosperous entrepreneurship, he attributes his success to his ability to borrow large amounts of low interest money to invest in his businesses. While many business start-ups may elect to invest their personal finances into their new business, Jack warns against this,
"The more you can borrow, the more you can make. Why would you limit the growth of your business to personal savings when you can borrow the bank's money for free to scale much faster and maximize profit."
People typically have limited personal savings and those personal savings are much better off being invested into long term investments like the stock market, cryptocurrency, or real estate to build long lasting wealth.
"There is a massive opportunity cost by using personal savings to start a business, instead, use 0% interest business credit to start and scale your business" advises Jack.
These secrets aren't taught in business school or any financial journal, rather these are techniques and systems that Jack acquired through exceptionally wealthy mentors and teaching himself through years of trial and error.
The fundamental piece is optimizing your personal credit. Not only do you want a high score but you need a very thick personal credit file to validate your trust with key lenders. Once your personal credit foundation is strong, you are ready for business credit. Jack warns about costly mistakes on applying for business credit cards before you have the proper requirements on the personal side first. Failing to optimize your personal credit first is asking for failure in business credit which can set you back years.
Jack shares the top 5 benefits of leveraging business credit:
1. You'll get higher limits with a business credit card than a personal credit card. These massive limits are key to fueling capital into your business to scale fast and drive sales, ultimately to increase profit and help you succeed. Jack gives the example of one client, who was approved for a $100,000, 0% interest business credit, and subsequently invested those funds to see a return of over $500,000 within one year. And dozens others who were able to get the necessary funds to launch a new business or scale their current business.
2. Business credit isn't reported to your personal credit. With a business credit line, you can leave a balance (with 0% interest) and it won't negatively affect your personal credit whatsoever. In other words, the business credit card account and it's utilization is not tied to your personal credit. This gives you access to borrow $200k in business credit and invest it into your business while maintaining an 800+ credit score.
3. Business owners can borrow money at 0% interest for up to 5 years through strategic balance transfers. This gives you the ability to invest in business opportunities that have a slightly longer return on investment period. Since utilization isn't reported to your personal credit this is only possible on the business credit side.
4. You can get approved for 7+ cards on the same day. By credit card sequencing and bureau stacking you can get approved for many cards in the same day with barely affecting your personal credit. This gives people the ability to get approved for $100k+ in a single day if done correctly.
5. You can turn the credit into cash. "Pulling the cash out of the cards" gives you the ability to invest into opportunities which you need cash for, instead of swiping your card. This opens a world of possibilities in terms of what you can do with the money.
McColl is providing the same insider knowledge and strategic tools that allowed him to get approved for $250,000 in credit to start and scale his businesses to other entrepreneurs through his program, Foundational Finances. This program includes access to 50+ training videos filled with these very same secrets and a coaching program that involves 4 months of weekly intensive coaching sessions which fast-tracks his students to see amazing success with getting approved for top cards with massive limits in a very short period of time.
When working with any new client, the process is incredibly strategic, yet simple through a 3-step process. Jack starts by helping clients optimize their personal credit and build strong relationships with the key lenders. This is arguably the most important step, without a thick credit file with a high score and solid relationship with the bank, it's essentially impossible to get approved for any business credit products. After that, Jack walks clients through the process of WHAT cards to apply for, WHEN to apply for them, and HOW to apply to maximize the results. These strategies help get his students approved for the top credit cards on the market with the highest limits in as little time possible without costly mistakes. Once a client receives their card approvals, Jack coaches them on the best spending strategies to receive maximum benefits (such as credit card points and cash back) and the most effective points redemption strategies that can up to 6X the value in your points. Also teaching secret "Travel Hacking" methods make traveling in absolute luxury extremely affordable for the average person.
If you're serious about starting or scaling a business and taking advantage of unheard of travel secrets, visit https://www.thefoundationalfinances.com/ to learn more about Jack McColl and his strategies, or to directly book a call, visit https://calendly.com/jackmccoll/callme.
SOURCE: Jack McColl