Last Update: Tuesday September 29, 2020

Financial wizards and patron saints of women and minorities

A Cab Business Goes to Wall Street

New York City: Medallion Financial was started by an immigrant taxi driver. Today it is a major NYC finance company. And in the USA, this story could be anyone's family story. Family businesses can grow quickly. Here they went from cabs to financing medallions. Then they became a Small Business Investment Company. Now after an IPO and subsequent rounds, they buy finance companies; so in just three generations, this family will have grown a billion dollar business.

Learn about debt and equity capital. What are you doing with your business? Could it be sustained beyond your lifetime? If so, consider an IPO or a DPO. Get some liquidity. Get into the M&A market. Grow your own team to take over.

Andy Murstein is a regular guy and there are great lessons for each of us within Medallion Financial. Even those of us who are not on the way to becoming a billion dollar business, this episode of the show is on the money.

This is a truly remarkable statement from Andy, "Medallion Financial is the largest SBA lender in the US to women and minority-owned companies. It has been lending money to disadvantaged business owners for over 50 years. In the taxi industry it has lent over 1 billion dollars and with zero loses."

Small Business Investment Company. Consider that extraordinary quote from Andy ... Medallion Financial became a very large Small Business Investment Company (SBIC) very quickly because they were already doing it! They were doing exactly what grandfather asked them to do: Stick to your niche and you'll get rich.

Go to all the Key Ideas and videos...

National Associations in the USA

In the USA there are many paths to capital. Be most creative. National Association of Small Business Investment Companies

Meet Andy Murstein of Medallion Financial. He said, "I want to grow the company my grandfather started to become a billion dollar business." He had the foundations, so he did it!

Find out how took a taxi cab business to become a financial powerhouse and the nation's leading financier of women and minority businesses. Each of the nine key ideas opens more.

	Invent something new! Maybe you can't be as inventive as Jack Miller, but you could implement some of his Key Ideas: ...Take Time to Secure all those Ideas, ...Teach to Sell and ...Smile at your Problems. (All the videos) Key Question: How do I start a business?"
	Go global! See the world as your market. Maybe you won't be as bold as Frank Jao, but you can implement some of his Key Ideas: ...Answer every Question, ...Find a New Goal, and ...Be a Giver Not a Taker. (All the videos) Key Question: What is a path for growth?
	Buying a business is a projection into the future! Maybe you won't be as aggressive as the Souto brothers, but you can implement some of their Key Ideas: ...Acquire the Competition (All the videos) ...Make My Words As Good As Gold, and ...Keep Dreaming. (Record-Share-and-Work on them) Key Question: Can my business be my legacy?
	Sell part of your business today. Ask people. Maybe you won't do a full-blown ESOP with Ray Smilor, but consider these Key Ideas: ...Take Out Some Cash; Enjoy Life; ...Value the Business, and ...Teach Ownership (all videos). Key Question: Who is the best buyer? A prior homepage... Prior episode's homepage ( go back several seasons)