Published on August 14th, 2018 | by Chad T.0
Eddie Hamid – President & CEO of iAdvance Now
Eddie Hamid is the CEO & President of iAdvance Now, a merchant cash advance service that has positioned itself as a leader in the alternative financing industry.
What Brought You to the Financial Industry?
I feel like I’ve been in this industry for a lifetime! Honestly, most of my professional career has surrounded finance in some way or another so I think it was just a natural fit. That led to iAdvance Now in many ways. I think I was frustrated by the aspects of the finance industry that were all about personal gain. I wanted to provide a chance at success to others.
Is That the Mission of iAdvance Now?
Absolutely. I think everyone deserves a shot at making their dreams come true and unfortunately, life doesn’t always make it easy. One of the biggest goals of iAdvance Now is to help “level the playing field” so to speak. Not every startup or business is lucky enough to receive grants or naturally already have money they can rely on.
We provide an alternative to their funding needs (different than crowdfunding) and work with them to create tailored solutions that fit their unique businesses. And we do mean tailored. No single business is exactly alike.
What’s the Best Thing About Running a Company?
I’d imagine that, for a lot of people, the best part is a big payday. Those definitely never hurt, but I think I really gain satisfaction from the service aspect. Any time we have a business we’ve helped fund see success, it’s a fantastic feeling.
And take it from me, not every business succeeds, so there is that little bit of heartbreak too. We truly root for every single person we encounter. Not all make it. So when they do, there’s that much more of a rewarding feeling.
What’s a Piece of Advice You Can Offer to Aspiring Business Owners?
Don’t ever stop. Ever. There will be so many sleepless nights and difficulties that you can’t even imagine. These won’t last forever, but they will shape your work ethic and your intuition. I know that 10% inspiration and 90% perspiration isn’t really the hottest saying lately, but there’s a reason it still rings true.
Out of everyone that thinks they have a great idea for a business, few of those people have the real winners and even fewer of them are willing to push as hard as they have to for success in any industry.
Where Do You Seek Inspiration?
I look for inspiration in everyday life. I think finding the excitement in the world around you is a key component to being able to spot opportunity and engagement. If you look for the wonderful in the ordinary, that can help you develop a shrewd eye for business. You’re able to spot what works and what doesn’t far more quickly than others. This can easily work to your advantage if you play it the right way.