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THE NEXT BIG DREAM: Millions Will Compete & Millions Will Win...Millions

Mommy Millionaire

Kim Lavine has transformed the lives of millions through appearances on the Today Show, Rachel Ray, GMA, NBC, ABC, CNN, CNBC, FOX, NPR, Oprah & Friends & features in USA Today, Guideposts, Inc, Business Week, Entrepreneur, and Forbes, to name a few. Her startup bible MOMMY MILLIONAIRE was called by Publishers Weekly “A top-notch how-to guide on launching a business…a rare gem.”

Read more in the newly updated Platinum Version of MOMMY MILLIONAIRE Available for immediate download by eBook or PDF. Filled with all kinds of bonus materials including document templates, updated tips and the real skinny on what went down since I wrote this book.

Price: $9.99 (Upon purchase you will immediately be redirected to download in EPUB, MOBI or PDF formats)

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Kim Lavine's Media Highlights
Kim Lavine's TV Highlights
Kim Lavine
Listen as I tell you a story, of history being made...

Kim is on a mission to inspire people to follow their dreams, empowering them with hope, honesty and faith.

Identified as America’s Expert on Inspirational Business Advice, Kim touches and inspires millions around the world through her appearances on The Today Show, Rachel Ray, Good Morning America, NBC & ABC news, CNN, CNBC, FOX, NPR, Oprah & Friends Radio Network, and features in USA Today, Country Living, Guideposts, Inc, Business Week, Entrepreneur, Women's World, and American Baby to name a few. Read More...

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Kim Lavine's Print Highlights
Thursday
May282015

« Final Due Diligence—What is it really »

by Kim Lavine

The person elected to do Due Diligence on my company was Mr. CFO. I asked my Millionaire Mentors what their due diligence process was like. They only explained that it generated paperwork an inch thick. The paperwork generated on my deal was more than two feet thick!

First there were the financials

This had been so scrupulously investigated by this time already, that a lot of the work was done. Still, Mr. CFO would ask for every one of our personal and business credit card statements for the last three years, and he would review them to understand what exactly was business debt and what exactly was personal.

Business Debt VS. Personal Debt

Unfortunately we had been forced to use personal credit cards to secure business debt in the debacle of 2003. He separated them out, and confirmed that all the business debt was accurately recorded in our Shareholders Accounts Payable.

What is Shareholders Accounts Payable?

Shareholders Accounts Payable is a number on your books that represents owner’s equity in a company. This is any personal cash or personal debt that you invested in order to start and grow your business.

Besides our personal credit card debt, our $125,000 IRA contribution was recorded here. Eventually, the idea is that once the company becomes profitable enough, it will pay you back this money you borrowed.

Can you believe it?

I was going to get every penny back that I ever invested in this company! Why didn’t anybody tell me this at the beginning? I would have worried a lot less about all that debt.

An Excerpt from MOMMY MILLIONAIRE

Read more in the newly updated Platinum Version of MOMMY MILLIONAIRE Available for immediate download by eBook or PDF. Filled with all kinds of bonus materials including document templates, updated tips and the real skinny on what went down since I wrote this book. CLICK HERE TO BUY THE BOOK

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