When you first start up your business, you need money to get you off the ground. Somewhere along the way, you may need another infusion of money to get you to the next level. That’s the reality of trying to grow a company. The question, then, is where you get this money.

You could tap into your personal savings, but oftentimes you’ll be left with one of two big options: get outside investment from a venture capitalist in exchange for a percentage share in your company or approach the bank to get a loan. Not surprisingly, there are pros and cons to both approaches.

Some companies may not qualify for the bank loans that they need and they may end up on television shows like Shark Tank and Dragons’ Den. Even outside the specter of television, the cutthroat environment of venture capitalist can be very intimidating. You are also giving out a portion of your business, either in a royalty or a percentage ownership. At the same time, though, you may be gaining access to contacts and expertise that you may not have otherwise.

A business loan from the bank necessarily results in interest being accrued, so this is an additional expense that you’ll need to consider. It also means that you are still on your own, without the outside guidance that a VC may be able to provide.

In the end, neither option is really “better” than the other; it’s just a matter of which is more suitable for your particular situation.

Referrals are the lifeblood of many businesses. It’s true of freelance writers, real estate agents, lawyers, general contractors, and all sorts of other professions. That’s why you want to make sure that all your customers have a positive experience, one that is so positive they’ll tell their friends about it.

A big part of this has to do with providing good customer service and delivering on your promises, but it also helps when you go the extra mile. This is especially true when the extra mile is completely unexpected.

For instance, I had a recent experience with a mortgage broker. They get paid for referring the business to the banks, so I (as the borrower) did not have to pay any fees to the broker. All I wanted was to get a good deal on my mortgage with the terms that I wanted. And she delivered in a timely, friendly, and efficient manner.

Shortly after signing the papers for the mortgage, I received a note in the mail. At first, I thought it was just a thank you note, which would have already been pleasant. Inside, though, was a $100 gift card to an electronics store. It’s not a huge gesture, but it was definitely positive and unexpected. Will I recommend this broker to my friends if they’re looking? Absolutely. It’s all about that extra mile.

Depending on the size of the business and the number of employees, I can understand why a number of companies use automated menus for their telephone lines. A customer phones in looking for certain kinds of information and they have to navigate a “for X press 1″ kind of menu. That’s understandable, but it needs to be user friendly.

A couple of weeks ago, I called a store looking to get their business hours. I was already on the road and wanted to make sure that they would still be open by the time I got there. You would think that the automated menu would be designed to provide this kind of information, as well as the physical address, as quickly as possible. It should be one of the first options.

It wasn’t. In fact, I ended up having to go through four levels of menus before I was able to get the business hours. I had to first choose “business info”, then “more options”, then “store information”, and finally “business hours.” It shouldn’t take four levels of the menu hierarchy to get to something as basic as opening hours.

If you must use an automated phone menu, make sure that the most commonly asked questions are addressed as quickly as possible. Also try to minimize the number of total options and total layers. It also helps if “0″ is always to speak to an operator and this should be accessible at any point in the menu.

Let’s say there are two stores. Both of them sell exactly the same products at exactly the same price. They both offer the same kinds of warranties and have the comparable return policies. Given this, there should be no difference whether a customer chooses to buy from Store A or from Store B.

Imagine, however, that Store A leaves its interior in its most basic shape, has a single service counter, and the employee is sitting in the corner playing a game of Minesweeper. On the other hand, Store B has spent some money to make for a more inviting environment, it has product displays out on the floor, and at least one employee greets each and every customer who walks through the door.

Which store would you prefer? There is absolutely something to be said about investing in the customer experience. There is a reason why more people are likely to visit an Apple Store to buy a new MacBook or iPhone than they are to go to another major retailer. They expect a certain level of customer service and attention. They expect to be treated well.

This doesn’t have to cost a lot of money. Simply saying hello to every customer as he or she walks through the door can make a world of difference. This way, the customer isn’t left wondering which way to go or who to ask for help. You approach them. You ask what they’d like and how you can help to fulfill those needs. That is investing in the customer experience.

Most small business owners will agree that having periodic specials can be a great promotional tactic. It gets more customers through the door, exposing them to what you have to offer. The idea is that they’ll come back or even spend more in the same visit.

Unfortunately, many entrepreneurs seem to go about this in entirely the wrong way. I’ve been to many “mom and pop” type restaurants where the daily special largely remains unchanged. It’s always the pork chop, for example, even though it’s a regular menu item too.

That’s not all that special. It’s perfectly fine to put a regular menu item on special, but it doesn’t make sense when it’s the same regular menu item that is always on special. The point is to highlight other menu items and, if the customer likes it, he or she may pay regular price for it on the next visit.

When you put something on special, think about what your end objective is. What are you trying to accomplish? Is that special going to help you reach that goal?

What happens when you have a business that has spun off a related entity of its own, only to see that separate entity become its own viable business? Do you keep this new project with a direct connection to the original company or do you keep it separate?

I’m a big fan of the DigitalRevTVYouTube channel hosted by Kai. He looks at all kinds of interesting cameras, lenses, camera accessories, and photography related questions. It wasn’t until recently, however, that I discovered that DigitalRev is actually a camera store.

You see, while the YouTube channel has steadily increased in popularity, the uploaded videos never make an explicit mention of its connection to a camera store. There’s significant DigitalRev branding, to be sure, but that branding is never linked back to the core business of selling cameras and camera-related equipment.

Is this the best configuration? On the one hand, the YouTube channel can generate its own source of income by way of advertisements. On the other hand, the YouTube channel can also serve as a gateway to retail sales, though that runs the risk of alienating some of the audience. If you were running DigitalRev, what would you do?