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Grow Business With a Bad Credit

Bad Credit Equipment Finance for Growing Business

Equipment Financing is short-term loans (about 3-5 years) extended to businesses specifically to purchase the equipment needed for its operations. Equipment financing is a collateral loan which means that the equipment you purchased could be repossessed in case payments go into default. Since the loan is released with a collateral, lending companies view it as low risk and may offer a lower rate of interest compared to a standard loan.

To qualify for an equipment loan, one must have a credit score of at least 600, been in business for at least 11 months, and generate around $100,000 in revenue. If you have a bad credit but meet the other two requirements, there is still a chance for you to avail of a finance. It really depends on the lender’s assessment of your financial situation.

Equipment financing is an alternative for start-up and small businesses for growth and development especially for those who don’t have enough capital to fund their purchase. And if you have a poor to bad credit

Start Up Business Plan Ideas

Business plans have a number of functions – as a funding business plan, a marketing plan template, maybe as a joint venture offer. I have made a list of important things to include.

Start Up Business Plan Points

What business will you be in? What will you do? List all of your major products or services

Your Mission Statement: It’s a good idea to create a brief mission statement, usually in 30 words or fewer, explaining your business mission and guiding principles.

Goals and Objectives: Goals are destinations-where you want your business to be. Objectives are progress markers along the way to goal achievement. For example, a goal might be to have a healthy, successful company that is a leader in customer service and that has a loyal customer following. Objectives might be annual sales targets and some specific measures of customer satisfaction.

Business Philosophy: What is important to you in business?

To whom will you market your products? Identify your targeted customers, their characteristics, and their geographic locations, otherwise known as their

Women in Business

1. Explore the reason why. There are a variety of reasons why many aspire to start a new business. For some it’s about creating a life of greater meaning and purpose. For others, it’s an opportunity to gain more financial security, or answer a “calling” of sorts, among other things.

Whatever the motivation for starting your business, it must be something that resonates profoundly and becomes the fuel that keeps the flame from within ignited. Without a deep-rooted conviction for the reason why, you stand a real risk of throwing in the towel at the slightest hint of difficulty or challenge you will inevitably encounter with your business.

2. Bring “you” to the journey. Although you may be venturing into unfamiliar territory as a new business owner, it doesn’t mean you are starting from scratch. The reality is that you already come equipped with resources, skills and abilities to thrive as an entrepreneur.

There are many success traits all entrepreneurs possess: problem solving, communicating, collaborating, decision-making, and risk taking, just to name a few. Some of these traits

Business For Beginner Entrepreneurs

Write a business plan. If you are building a business from scratch, you definitely need one of these. Not only will it keep you focused and organized, but it will also help with funding. Banks and private investors want to see that their money is going to be well spent and that your plan is solid enough that they’re likely to get their money back.

Location, location, location. I know you’ve heard this one before. If your business is not home or internet based, you will need a physical commercial space. Do research and figure out what area would be best for the type of services or products you offer. You will have to balance that with things like commute, likelihood of disaster (I.e., robbery, flood, etc), and surrounding commercial buildings. Once you’ve got a general area in mind, it is time to shop around a bit and compare prices. Be prepared for steep prices for small space in comparison to residential property.

Get some funding. Once you have a business plan ready, you can present it to banks and try to get a loan. Alternatively, you can try and find an investor or two to

Creating A Killer Business Plan

1.) Finding All the Painting Customers You Can Handle. If you know how to do this you got it made and you can make as much money as you want. Whether a small, 1 to 2-man painting operation or a painting company that has a large painting crew, you can make it happen when you know how to find customers.

2.) Knowing How To Estimate Paint Jobs – for maximum profits, this is the second power stroke that should be in a painters marketing plan. When you know how to get as close to the “threshold of pain” as you can get, (the maximum you can charge someone before price resistance kicks in) whether residential or commercial, you can MAX your profits.

3.) Customer Retention – just how much is a painting customer worth to you? When you know that, you will really do whatever it takes to hang on to them. Finding new customers is not always as easy as painting for the existing ones. If they run out of things to paint over time, how many “referrals” can they give you? Why wait 10 years for them to call you again when you can

Concept of Strategic Management

Reforms and changes undertaken by the World Bank supported Sectoral Adjustment Programs have raised serious questions about the way the public services are run and how users are treated. Managers and politicians at the central level have had to rethink about the management of public sector institutions in Bangladesh. Most of the reforms and changes have been based on two main ideas: firstly reduction of public spending and secondly, the market mechanism is a good thing, if a market style of relationship is suitable, it should be introduced. In many respects the public sector is different from private sector. In public sector the activities of the Government are rarely based on the need to attract customers. Prices are not normally set to maximize profits or market shares. Investment decisions are not generally based on prospective profit. Motivation may even be different; earnings do not wholly motivate managers and workers. ” What all this means is that the values require to run the public services are different from those required to run a successful business. For example, it is rarely appropriate to withdraw from parts of the ‘market’ because they are no longer profitable. ‘Customers’ who cannot afford to

Start-Up Business Financing

Start-ups have always struggled at getting capital before launching their businesses. They have no revenue, no real prospects, no assets and no brand name. In fact all they really have is a hope and a prayer.

Thus, no lender or investor in their right mind would touch a start-up business – and they usually don’t.

But, year in and year out, some 600,000 + new businesses are started each year; according to the Small Business Administration.

These businesses have to get funding somewhere. The question becomes, where?

Each business is different and as such each may find a different or unique way to scrape together the capital needed to launch their company. Some new businesses have to either cash out all their personal resources like home equity, stocks and bonds, deplete savings accounts while some may find investors in their local area or tap their friends and family.

Whatever they do, the bottom line remains the same; small, new start-up businesses can’t get outside capital from traditional business loan resources like banks or other financial institutions.

But, over the last decade or so, there have been some really ingenious and innovative entrepreneurs

Mid-Year Business Strategy

Principle 1: Sustained profitability

The conditions for generating profits are created when clients value your products or services enough to pay more than what it costs the business (you) to produce and provide them. Strategic planning is your opportunity to define business goals and objectives and devise strategies and action plans with thoughts of short and long-term ROI in mind. Assuming that profits will be inevitable if sales volume and market share are the only measurements of success could be misleading.

Principle 2: Value proposition

Be certain that what company leaders consider to be the value proposition—that is, the most desirable benefits—matches what target customers consider to be the value proposition. Do not attempt to produce and offer products and services that you expect will be all things to all prospects. A business needs strategies that allow the venture to compete in a way that allows it to effectively and efficiently deliver what its most loyal customers feel has value.

Principle 3: Competitive advantage

Those highly desirable benefits that sustain the value proposition must be reflected in and supported by strategies that shape them into sustainable competitive advantages. The successful enterprise will differentiate

Start a Business Without Money

The best business to start in the work at home industry can bring you very significant amounts of revenue month after month. But in order for you to make a lot of money, you need to put in some money as well. You would need to pay in order to join the business. You would also need to pay for things such as merchandise and various supplies that will keep your business running and profits flowing to your bank account. Anyone promoting a business which they claim can be started without any cash outlay from you is either hiding the fact that there are many hidden costs along the road or that the business is unlikely to bring you any respectable amount of profit.

Is there any way at all on how to start a business without money? The only thing that comes close is to begin a business using OPM – other people’s money. You can, for example borrow some money from friends, family and other private investors. You can borrow from a bank. You can also see if the government would be willing to offer you some types of grants or funding for your new

Proceed Home Business

• Keep every record: As a business owner, you should keep every single record and receipt. You will get a complete list of deductible business expenditure from Internal Revenue Services’ Publication 535.
• Appoint the right accountant: Make sure that you hire the right accountant who is familiar with small business tax law and preparation.
• Create FedEx account: You should create a FedEx account. It is free and the supplies are also free.
• Effective communication tool: Arrange for a dedicated phone line and a reliable answering machine.
• Health insurance: Get a hold of health insurance. You can make contact with professional organizations. For individual coverage, you might go for a no frills policy.
• Keep back-up of your system: Your computer is the lifeline of your home based business. Try to save your machine from a serious crash. Before starting home business, make sure how you would recover your business material. You can join an external hard drive to your machine through a USB. It will help you to keep a back-up.
• Care for your system: Before starting home business, ensure that your machine is equipped with latest anti-virus software. You can browse through

Business Start-Up and Rent

Business Start-Up and Rent: 4 Costs You Can Expect

1. Legal/Licensing Costs: These can be pretty substantial depending on whether you are buying a franchise or not. The largest cost would be your franchise fee. Then you have to consider what license and permits you will need to operate your business and whether you will be incorporating or not. And of course there is always the lawyer’s fee.

2. Building and Supplies: This is another large investment for business start-up and rent. You will need to find a place to lease or purchase for your business. Depending on the space, remodelling may be required. Then there is all of your equipment, office supplies, furniture, inventory and signage. Don’t forget to consider whether or not you will need a company vehicle. You will also need to pay set-up fees for your utilities.

3. Operating Cash: The majority of new businesses are not profitable in the first few months, sometimes the first year because they have accumulated so much debt to get off the ground that there is nothing left over for profit. Because of this it is important to have enough operating cash to cover transactions,

Danger it Holds For a New Business

The only thing that stopped her is her own lack of interest in putting aside all of her other interests to devote her whole attention to chocolate-making. When she spots a promising location, she daydreams for a moment. Then she remembers the commitment of money in renting the space, the extra equipment she’d have to buy, the time she’d have to put in, and the intensive planning and promoting she’d have to do to ensure it made money and didn’t turn into nothing more than an expensive hobby.

When your thoughts of starting a business include a physical location, startup costs, devoting specific times to running it, and the number-crunching to determine if you can make a profit, you’re forced to do some genuine planning. The risks are too high if you don’t.

That’s why the Internet can be a dangerous place to start a business. The barriers to succeeding aren’t obvious. You can be tempted to overlook them.

You don’t have to commit hundreds or even thousands of dollars a month to securing a physical location. A few bucks for a domain name and some lost-cost hosting takes care of that.

You don’t

Ingredients For Success

Desire:

Starting and successfully running your own business is never easy – if it was everyone would be a business owner. Even in the best of times, starting a business means you will be in for a lot of long hours and difficult challenges. To make it through these challenges you must have a burning desire to fulfill your dream of being a business owner. If it’s just a wish or an interesting thought, you will probably not make it through the hard times.

If you are happy at your current job and satisfied with your income, starting a business may not be for you – at least for now.

So ask yourself, specifically, why do you want to start your own business?

Do you have a great idea for a product or service that excites you just to think about it? Do you have the desire to control your own destiny?

If it is just the desire to make more money you may do quite well – in the beginning. But once you reach your initial financial goals you may find you don’t really enjoy running the business you created. You may

Start Internet Business

In providing yourself with a positive internet business opportunity, firstly as how a successful internet marketer thinks, you have to be realistic on your goal and intention. People do make it big in the internet home business job scope but it doesn’t happen for them without needing them to put in substantial effort and time. Therefore, on how to start internet business like a real successful internet marketer, you have to realize that it doesn’t happen overnight and significantly an amount of effort, dedication, motivation time as well as perspiration have to be given it to really make the big bucks online.

If you are unable to set this unrealistic mindset, it is always advisable that you approach the internet home business on a smaller scope. What this means is that even thou an internet business opportunity could bring you big bucks eventually, you should never harbor and overwhelm yourself with that kind of thinking at start. If you are only learning the ways on how to start online business for the sake of making the money but not because you enjoy doing it, it is better that you rethink it over again. Like any businesses, making

Virtual Phone Systems

Advantages to Using Virtual Phone Systems

Virtual phone systems may sound like just another buzzword in telecommunications, but their unique advantages have made them major players in the market. Similar to traditional systems, virtual systems offer companies the ability to customize their telephone directory, transfer options, hold messages, and extensions. They can offer small businesses the appearance of a large, modern company, something all start ups should aim for today. Staying on the forefront of technology can help organizations gain and hold bigger market shares.

Other advantages with virtual phone systems include low start up and ongoing expenses, the ability to easily customize and add new lines, and advanced features to help mobile workers stay productive. Virtual phone systems also allow start ups to install and begin making and receiving calls with virtually no downtime.

Costs, Investments, and ROI

Instead of spending valuable start up capital on traditional systems that will soon become outdated, emerging businesses are finding that the costs of deploying a virtual phone system are better aligned with their budgets than other more traditional phone solutions. Typically, implementation and on-going costs are lower than traditional systems, depending on the features used.

Important Personal Questions

1. Are you passionate about business?

A desire to get away from the regular working world can be a good motivation to start your own business, but this desire alone is not enough. You have to be excited at the prospect of “doing business”. Being passionate about baking cakes is not the same as being passionate about running a bakery. To be successful in business you don’t necessarily need to be passionate about the product you are selling or the service you are providing but you do need to be passionate about the business of “doing business”.

2. Do you have the necessary technical skills or business talents?

Just being able to do something may not be marketable enough to convince customers that you will make a good supplier or convince bankers that you are a bankable business owner. You will also need to demonstrate sufficient business skills or qualifications to start this business? If not, do you have a partner that does?

3. Do you have the characteristics of an entrepreneur?

Qualities you must have are perseverance, a strong desire and willingness to take the initiative, competitiveness, self-reliance, a strong need to

Key Considerations When Starting a Business

Consider Scaling Down and Pilots

I know what it’s like… you have a fantastic business idea, you see the potential, you see how great it can be, and you want to put in all you can to make that vision a reality. While this is the only way to go for some business concepts which are pretty much, ‘Go Big, or Go Home,’ this isn’t always the case.

Where it’s possible, consider the option of scaling down, and testing the concept. This will allow for you to start up, while saving money, learning from the pilot and being able to action changes, and raise more funds based on proof of concept. This approach not only reduces start-up costs but provides valuable insight around the business, in real terms. It may not generate much profit, but it will offer a wealth of verified information that will help you to determine the next steps… If you decide to proceed with expansion, it is a great basis for second stage funding.

Consider Realistic Timelines and Pricing

Part of calculating your start-up costs will involve figuring out your initial cash flow. Without having actually operated the business this

Starting a Business After 50

Throughout his life, Mahatma Gandhi demonstrated how to fight for a cause in a nonviolent way. One of the most important acts in his quest for Indian independence occurred in 1930, when Gandhi was 61.

Kroc, the guy responsible for all the McDonald’s in the world, began his venture at the ripe age of 52, despite battles with diabetes and arthritis. Seven years later, he convinced the brothers to sell out their shares, and he became the owner of a franchise that would sell more than a billion hamburgers by 1963. Kroc continued to be involved in McDonald’s operations until his death in 1984.

Grandma Moses never had any formal art training — indeed, she’d had very little formal education at all — but she painted every day, turning out more than a thousand paintings in 25 years. She had no experience or education in paining, and didn’t being painting until the age of 76.

One of the oldest success stories is The owner of Kentucky Fried Chicken, Harlan David Sanders, well known as Colonel Sanders. He was 65 years old when he started Kentucky Fried Chicken. KFC was a brand new business idea for

Business From the Ground Up

Identifying major resources needed for a startup
There are three major resources to consider before you start Time, Money and Skills. They are the foundation of every business endeavor. By being aware about what resources you have available, you will increase the chance for a successful start up and build a viable business. We will look in detail at each of these resources in subsequent articles.

I already have a great idea that want to make it into a business
If you already have an idea and your hands are itching to try that is great! However, you may save time and resources if you are being methodical and identify what you have available to you before you jump into a startup. It should not take weeks or months to understand how much time and money you have available to you and what are your business strengths and weaknesses.

I want to start a business but do not know what type
Do not disappear if you decided to start a business but have no viable idea. Sometimes we want to start a business but do not know what type. Before jumping into any prepackaged business idea,

Start Up Business Credit Cards

1. Not As High Risk As Investment Opportunities – It can be extremely difficult to have a venture investment company agree to providing capital for your business. The nature of your business, competition in the immediate area, and previous business ownership all have to do with the approval or denial of investment funding for your business.

Luckily, most small businesses are not considered high risk to lenders, even if the business is only in the beginning stages. It is a lot easier to be approved for start up business credit cards than venture investment capital.

2. Organization Of Records Is A Lot Easier – When you obtain start up business credit cards, you are starting off on the right foot because you are able to take strict measurements from the very beginning to assure the security of your business finances. Start up business credit cards are a great way to save all bank slips and purchase receipts to document all spending coming into and going out of your account.

3. You Do Not Need An Accounting Department – If you contain one or two start up business credit cards, you are more than likely able