Monthly Archives: July 2015

5 Important Questions To Ask Before Seeking Financing For Your Business

Financing is critical not just for startups, but even for an existing business that has needs to maybe expand the business. Luckily, there are so many financing packages that touch on the different business areas and the needs you have for your business can help you make the right consumer financing decision. Different financial institutions and lenders have varying terms of service when you seek a loan and so you should have this in mind too when seeking financing.

  1. How is your credit history?

The credit score can determine the amount that you can be loaned and the interest percentages. This however varies from one lender to another and you should therefore start by evaluating your credit history and the impact that is going to have on your financing. Fortunately, you can find no credit check financing arrangement which means that you can still get the financing that you need regardless of how your credit history looks like. You can get financing even with bad credit, but this depends on the institution you choose to use when getting the financing.

  1. What are you using to secure the loan?

Loans need a collateral and they are the assets that can be sold when you are unable to repay the loan. You pledge them to the loan consigner and the value is usually higher than the loan that you are applying for. When thinking about the collateral it is just important for you to think about how flexible you will be in repaying the loan. It makes it even more important to be clear about your reasons for seeking the loan so that you can put it to good use and make repayment an easy thing for you to achieve.

  1. How is your business equity?

Lenders prefer businesses whose debts are not more than four times equity amount currently in the business. Your company balance sheet will reflect the amount of equity. You can seek additional funding sources in case the balance sheet does not reflect the standard.

  1. How much do you need?

Your accountant or your financial adviser will help you draw a business plan that is detailed enough to help you decide just how much financing you need for the business. A business plan helps in minimizing risks, identifies opportunities and reduces costs, but it can also help you succeed with the loan application. Operations, logistics, management, sales and marketing are some of the areas that your business plan should include leading you to the most appropriate amount of the loan you are applying for.

  1. How is your business experience?

Not many lenders love risking loans for people without enough experience of running a business. You should be in a position to demonstrate that you have what it takes to put the money to good use. Find partners or hire people with enough experience to help you increase your chances of securing the financing that you need

Explore Three Online Business Tips That Will Help You Succeed

I don’t envy new internet entrepreneurs looking to make money online. There are so many business opportunities it is overwhelming which system to select. However, after careful consideration you have finally decided on a business system and you are ready to get started. Where do you begin? Let’s take a look at three online business tips that have their roots in Corporate America, but are relevant to online businesses.

Many times online business opportunities are not viewed and managed like a corporation, and for good reason. Unreasonable deadlines, greed, unruly bosses, and long hours are reasons for the mass exodus from Corporate America to the green pastures of online businesses.

While Corporate America is inherently flawed, there are a few online business tips that can have a significant impact on the success of your home based business. When constructing your online business don’t overlook these important tenants, usually reserved for Corporate America. You will be surprised at how powerful these three business elements can be.

Business Tip #1: Leadership

A determining factor in the success of your home based business is leadership. When starting out, you are not going to have all of the answers right away. That is why it’s critical to surround yourself with industry leaders that can help guide your business. Make sure you listen, read, and follow influential leaders within the online marketing community that are currently getting the results you desire. These leaders are people that are going to help mold you into a successful leader who will create the necessary results that are essential for your business’s growth.

Business Tip #2: Mission Statement

Most likely your internet business is going to be just you; however it’s still important to have a well groomed mission statement that invokes inspiration. You want people to be attracted to you and your business and a mission statement is a great way to build your online brand. It’s an extension of your beliefs and needs to resonate with people. An effectively communicated mission statement helps you stay in the forefront of your customers mind and creates your business identity.

Business Tip #3: Collaboration

The competition in today’s business world is fierce. That is why it’s essential to partner with key subject matter experts. You can learn a lot from people within a team environment. That’s why it is critical to align yourself with other online entrepreneurs. Together you can learn what people within the industry are doing to get results. Join network marketing groups, listen to podcasts, participate in events, and attend live webinars. This type of collaboration will foster new ideas and spawn business growth.

Whether you are an industry veteran or new to the online marketing world make sure you carefully consider integrating these three elements into your online business. While these three online business tips are deeply rooted in Corporate America, you may find them beneficial to the success of your online business.

Best Small Business Tips and Ideas

Deciding to start a business can be one of the most exhilarating decisions you make in your life. We are living in a world wherever everyone wants to make extra money and add to his income. Most people have achieved this by acquiring great business ideas. When one starts up a company, he must be ready to meet competition. It is important to note that you would not need to become rich or popular to succeed in business but have to think smartly. But there are a lot of moving parts and many different elements to consider.

10 basic tips essential to start a business successfully.

Tip 1: Get inspired and Love your idea

Every business begins with an idea you may have imagined of opening your own business for years, or motivation may have hit you suddenly. Nevertheless of the source, the first step of starting your own business is coming up with a business idea. And as important as your idea, you must in love with the idea.

Tip 2: Do Your Research / learn everything about the business

You’ve recognized your big idea, now it’s time to balance it with the reality. Are you truly ready to start a business? Answer the questions below and see what you need to prepare yourself for business. For a small business succeed it must fulfill a need, solve a problem or offer something the market wants.

You can identify this need in many ways by doing research, focus groups, and even trial and error.

As you search the market, some of the questions can be:

• Is there a need for your anticipated services or products?
• Who needs it? (Target Costumers)
• Are there other companies offering similar services or products right now?
• How is the competition?
• Can or how will your business fit into the market?

Tip 3: Make a Business Plan

You need a business plan in order to make your business idea a reality. If you expect to seek monetary support from an investor or financial organization, a formal written business plan is a must.

Even if you don’t need monetary support, a simple business plan can give you precision about what you hope to accomplish and how you plan to do it.

In overall, your business plan should summary your business goals and the inspiration behind them, as well as your plan for realization of your goals in terms of marketing and funding.

Tip 4: Planning Finances

Opening a small business doesn’t have to involve a lot of money, but it will involve some investment.

There are a number of methods you can fund your small business:

• With Small business grants
• By Financing
• With Small business loans
• Or Angel investors

You can also attempt to get your business off the ground by bootstrapping, using as little capital as necessary to start your business.

Tip 5: Business Structure

Your small business can be an individual ownership, a partnership, a limited liability company (LLC) or a corporation. The business structure you might choose will impact in many factors from your business name, to liability, and how you file your taxes.

You can choose an initial business structure, and with time re-evaluate and change your structure as your business grows and needs to be changed.

Tip 6: The Business Name

The name you choose plays a role in almost every aspect of your business, so you want it to be a good one. Make sure you think through all of the possible consequences as you explore your options and select your business name.

Once you have selected a name, there is the need to check if it’s trademarked, currently in use and if stills free you will need to register it. A individual proprietor must register their business name with either their state or county clerk. Corporations, LLC, or limited corporations usually register their business name when the creation paperwork is filed.

These days you need to have a website, so please don’t forget to register your domain name once you have selected your business name. The best domains and more valuable online are the ones ending with .com.

Tip 7: Licenses and Permits

There are a range of small business licenses and permits that may apply to your situation, depending on the type of business you are starting and where you are placed. You will need to inquiry what licenses and permits apply to your business during the initial process.

Tip 8: The Business Location

Setting up your place to work is essential for the operation of your business, whether you will have a home office, a shared or private office space, or a retail location. You will need to reflect about your place, equipment, and overall setup, and make sure your business place works for the kind of business you will be doing.

Tip 9: Accounting System

One of the most essential systems for a small business is an accounting system. Your accounting system is essential in order to build and manage your budget, set your charges, conduct business with others, and file your taxes. You can set up your accounting system by your own, or hire an accountant to take away some of the work.

Tip 10: Promote Your Small Business

As soon your business is up and running, you need to start attracting customers. You’ll want to initiate with the essentials by writing a single selling offer and building a marketing plan. Explore as many small business marketing ideas as you can so you to choose how to promote your business most successfully. Completed these business start-up actions, you will have all of the most important small business bases protected, and be prepared for small business success.

15 Business Ideas to Generate Extra Income

If you want or need to start a side job because you still need to wait a little bit longer to start your own business, here are 15 suggestions for you.

1. Make money Blogging

If you enjoy writing, find a theme you’re passionate about and start a blog dedicated to covering that theme and anything else interesting you enjoy to talk about. All you need is a laptop, some time, and inspiration to consistently write. It can start as a hobby and turn into a business over time. Creating a blog is free, but if you want to look professional it can cost less than $ 12 per month.

2. Buying or selling on eBay

Thanks to internet there are more opportunities to make money than ever to buy and resell products for extra money. There are lots of people buy at a discount and resell them on eBay for profit.

3. Freelance writing

If you’re great with words, you might be capable to find some work as an online freelancer. A variety of publications need online content in the form of product, stories, service descriptions, and reports, and if you have the talent and ability, you could easily be the one to create them. Luckily, all you need is a computer and Internet connection to get started. You can start here freelancer.com

4. Social media expert

Now a day almost everyone uses Facebook, Twitter, and Pinterest, but did you know that many companies are willing to compensate people to support them managing their social media accounts and sometimes you can do it part-time from home. If this appeals you, to find social media jobs you can start by writing companies with a social media presence and visiting sites like Elance.com for opportunities.

5. Proofreading and editing

Do you have strong English skills and outstanding grammar? You may have chances to work as a proof-reader from home. Marketing for this can be hard; seek out those who might actually be able to use your services and advertise directly to them.

6. Virtual assistant

Many companies and individual professionals like having someone who can check and answer their email, organize task lists for them, someone who can update their calendars, and perform other administrative tasks, with minimal communication. The best of being a virtual assistant is that you can offer this service from home with a good Internet connection.

7. Website design

If you know a little bit about web design you can approach small businesses in your community, as they could use a very basic web presence to tell others about their business. These businesses usually don’t have a large budget for websites and create a great yet simple website is for you, get a bunch of clients from your local community, create sites for them, and maintains them for a small fee. You can easily get enough businesses to have a nice side business of your own with a low investment.

8. Affiliate marketing

Certain types of online businesses will pay you to promote their products and encourage sales. If you’re interested in learning more, check out affiliate marketing programs such as Click-bank, Commission Junction, and these websites are trustworthy and you can earn money by posting their products in your blog, website or Facebook. The secret of online business is all knowing targeting the right public and marketing efficiently. It can be overwhelming with all the information available online as more than 50% of the information is just a waste of time.

9. Become a business or life coach

If you are a good speaker and passionate about the business world and able to inspire and encourage others in a unique way, you could marketing your services as a business or even a life coach. Take your passion and expertise to the next level giving advice and suggest actionable steps people can take to progress their professional and private lives.

10. Start a resume writing service

If you’re excellent at writing remarkable resumes that in the end result in people getting the job, contemplate advertising those services. Most of your work will spin around writing, editing, designing, and proofreading, so you will only need few supplies outside of your computer and basic software to get started.

11. App Developer

Web app development is the creation of application programs that reside on remote servers and are delivered to the user’s device over the Internet. Now a day you can do apps with software’s you don’t really need to be a weirdo to do it, you can be an app developer for Facebook for instance and of course you can do it part-time and home based.

12. Business Consultant

If you are high organized and skilled being a good problem solver this job is for you. Companies bring Business Consultant to identify their problems, provide solutions and optimize companies. The only investments are your skills.

13. Data Entry Service

Many companies and online businesses require some type of manual information tracking, creating a vast amount of data entry work. Although there are many work-at-home scams related with data entry work, there are a lot of genuine chances available for genuine data entry businesses. If you are an excellent typist with an eye for detail, a data entry business is a great idea for you.

14. Freelance Writer

If you have the skill to write and inform people in a certain area, you can write small books or guides and sell them online, the biggest books platform is Amazon.com, where you can display your books for free and when they are sold, you will receive a percentage from the selling. Payments are made every month depending on your sales. Investment is only your time to write and imagination.

15. Internet Researcher

The Internet provides a vast amount of information. If you can quickly and efficiently navigate through that wealth of information, and essentially find a needle in a haystack, you can create a very successful business as an Internet researcher. Search for this kind of job online or about a company which is looking for this of service.

I give you only a glimpse what you could do, and these are just a few ideas, but many ideas were left behind.

First of all I advise you to think what you like to do as a hobby or in your free time, why don’t you make profit from what you are doing already?

You have the world as your disposal, but for a business to work out the first thing from all things is, it doesn’t matter what you intent to do, but you have to love it. If you love what you do it doesn’t feel like a job, you will be doing it with joy and this way you will be successful.

There are some side business opportunities that have grown more common in the past few years. And thanks to internet you have much more opportunities, ideas and help to develop your business.

5 Steps To Build A Massive Business

1. Belief

Belief is a state or habit where trust and confidence are placed in some person or thing.

If you are in the network marketing business, or any business, you already have a certain amount of belief that your business works. You must believe in yourself and know that your business will be life changing.

2. Hope

Hope is the expectation of fulfillment or success.

So many people have been in this industry and have not yet found the level of success they are searching for. Hope is what keeps you plugging along and moving forward.

Don’t allow your hope to stop where it is right now, but reach farther and go beyond your comfort zone.

3. Consistency

Consistency is the achievement of a level of performance that does not vary greatly in quality over a period of time.

For a lot of people, consistency can become an issue because you think success will happen right away. You must be consistent in your action for that to happen. When you continually practice that consistency, then you will see desired results of success in your business.

4. Massive Action

Massive action is doing whatever it takes to achieve your goals by charting your progress every day.

This is closely tied to consistency. You have probably heard many times before, that massive action is absolutely essential for you to get where you want to be. This requires action on your part.

You will have to do things that are uncomfortable for you, maybe out of your nature, but what is most important to you? Being who you are today or being who you want to become tomorrow?

Is taking massive action part of the formula you are missing to become successful? Begin to form that habit, and it will change your life and those around you.

5. Determination

Determination is the quality that makes you continue to do or achieve something that is difficult.

While building your business may be simple, it is not always easy. There is difficulty because there has to be something about you that needs to change for that success to come into play.

You must possess determination and conviction to do whatever it takes to make sure you push beyond your comfort zone and self-limited beliefs.

These 5 steps should become a part of your very character. If they are not in place right now, you can begin to change that immediately! Don’t wait until you get to a certain point or level, but begin putting them into play right now. This will give you a jump-start and level of insight to achieving massive success in your business.

If you already have these critical steps in play, you can always practice them at a higher level as well. Only you have the power to get beyond where you are now to where you want to be.