Many business owners look for funding only when they urgently need it. Terence Spence, founder and president of Expandemonium LLC, joins Entrepreneurship 101 to discuss why preparation can matter as much as access to capital. Drawing on more than 25 years of leadership experience across multiple industries and over a decade as an entrepreneur, Terence shares how his own experience led him to focus on helping business owners become better prepared for financing. The conversation explores the difference between seeking quick approval and building a thoughtful capital strategy, along with the roles of personal credit, business identity, business credit, relationship banking, and planning. Terence also reflects on leadership, faith, patience, and his guiding idea of “process over profit.” For founders considering funding in the months ahead, this episode offers questions to ask about readiness, sustainability, and the financial foundations of a business. Learn more about Terence and Expandemonium at expandemonium.vip.