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Seven Questions for Michael Milken, Small Business Advisor


The Junk Bond King explains it all for you.


Editor's Note: Additional reporting for this article provided by Justin Rohrlich, Mike Schuster, and Nico Carbellano.

It takes a certain Type A personality to excel in management, and running even a small to medium-sized business can be a herculean task. Which is why you might want to enlist the expertise of a market titan.

Bizmore -- a business advice website comprised of user-generated questions and answers -- goes live this week, and it has something of a secret weapon: Billionaire financier--and a bald man who boldly eschews the ceremonial wearing of the toup -- Michael Milken has given the fledgling service some $10 million in funds, according to the New York Times.

Indicted in 1989 on 98 counts of racketeering and securities fraud, Milken is certainly an unusual choice for someone to be spearheading a business advice service -- you'd expect him to maybe open a consultancy service on how to best get along with your cellmate. But hey, the powers that be in Vegas hire former casino cheats as security consultants.

As Rafael Pastor -- chief executive of Vistage International, Bizmore's parent company -- told the Times, Bizmore will hopefully supply "instantaneous information that is very tailored to a specific question or need." Like Yahoo Answers (YHOO), Bizmore visitors can vote for what they think are the best responses to business queries. In addition to the Q&A, freelance writers will contribute advice on evergreen small-business topics.

If that advice reflects the history of Michael Milken -- a man who knows the ins and outs of more than a few "unorthodox" business practices -- Bizmore may have made a very shrewd decision.

In conjunction with Bizmore's debut, Minyanville imagines some of the questions and answers being bandied about at the newly minted service.

Greg L. Businessman 473 posts since
Jul 20, 2008
Currently Being Moderated

"I'm a small business owner, and I've been using revenues to cover my alimony payments. Now, one of my investors wants to see my auditor's books. How should I handle this?" -- Greg L.

Creation Date : Jul 30, 2009 9:25 AM | Modification Date : Jul 30, 2009 9:25 AM

First of all, don't panic. Remind yourself that everyone makes accounting mistakes, and rest assured, barely a fraction get caught. Promise this investor a guaranteed 20% return on his capital and quickly sign on an additional investor under the same terms. With the second investor's money, fill out all the gaps in your books. Continue this foolproof process until everyone's happy.

(1 rating)
No positions in stocks mentioned.

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