Some thoughts for small businesses that are navigating the rough economy:
1. Consult your bank about your business' financial status. Lenders have experience in economic cycles and can advise you on issues specific to your business and industry. It’s also critical to ensure if you do have existing credit lines/loans that they will renew them, or not decrease them. Also, its very important if you do not have a line of credit to arrange a line of credit. You may not need it at this exact moment, but if a lag in cash flow occurs, you will be ready.
It’s important to remember that banks in this current economy decline over 93% of all small business loan/line of credit requests, so check and do not assume they will be there when you need them.
2. Investigate other sources of lines of credit, loans, or ways of getting needed cash. The unsecured business line of credit offered by Quickcash4biz may be one of the least known but best ways for small/medium businesses to get the critical working capital they need.
Having a source of funding lined up before an emergency or lag in cash flow is critical, so do not wait till the last moment to pursue all options.
3. Make sure you maintain good relations with your creditors. You may find it necessary to renegotiate terms, but overdue bills and inconsistent payment practices will not help your position.
4. Similarly, keep a close watch on your receivables. Follow up with whoever owes your company money and make sure they are meeting their terms. Be firm when dealing with problem accounts but also be willing to negotiate where appropriate.
5. Make sure expenditures can be justified and that they contribute to the financial health of your business. You may find it necessary to redirect money to areas that will enhance business performance. If you carry an inventory of products, check the accuracy of your records and procedures to prevent losses.
6. Review your operations and expenses on a regular basis. If you monitor your profitability on a monthly basis, it's a good idea to do it weekly or biweekly during slow economic times. Likewise, review your business plan more often.
7. Step up your marketing efforts. Many businesses mistakenly see marketing as a luxury when money is tight. The truth is that this is the time you need marketing most. Along with reassuring your current customers that you are still there to serve them, marketing can help you reach new markets that will sustain your business now and facilitate its growth in the future.
Sunday, April 27, 2008
Friday, April 18, 2008
Four of the Hardest Small Businesses to Run (and Four of the Most Successful)
In fact, more than 50 percent of small businesses fail with in the first year of business, and 95 percent fail within the first five years, reports the Small Business Administration (SBA).Several reasons contribute to the failure of a small business: lack of experience, mismanaging funds, poor location, or growing competition. But one of the biggest killers is starting a small business in a large industry without identifying if you have a necessary or essential product. We're not saying that you shouldn't open a small business, but you should be well aware of the risks if you do.
Conversely, there are some small businesses that are on the verge of booming due to an increase in demand: child care services; computer-related/Internet related services; and home health care services. Before you run off to start your own Internet-child-care hospice, take a look at four of the hardest small businesses to run (according to Forbes) as well as four of the most successful to date (according to Inc.com):
Four the Hard Way:
Transportation -- This big category includes taxis, limos, ambulances, hearses and other vehicles for hire. All operators pay high insurance premiums, suffer during oil spikes and have tons of competition, but each mode has its own risks, too. Take taxis: In New York City, where the number of taxis has been fixed since 1937, the price of a taxi license is upwards of $400,000 -- a stiff entry price to do battle, even in a $1.8 billion market. Then you have to find trustworthy drivers to pull in revenue -- unless you enjoy grueling 10-plus-hour shifts.
Retail stores -- It only takes one slow season to leave you swimming in inventory. And differentiating your shop among giants, such as Nordstrom, Gap or Urban Outfitters is not easy.
Restaurants -- Purchasing the furniture and equipment, a liquor license, and passing the health code can run in the hundreds of thousands of dollars. Once you open your doors, get ready for your staff to walk out through them at a moment's notice. Oh, yeah: Most food-service vendors like cash on delivery, so a slow week can make it hard to buy next week's ingredients or alcohol.
Travel Agencies and Tour Operators -- Travel is a do-it-yourself activity these days, with online travel search firms like Expedia and Priceline.com. To attract paying customers, agents and tour organizers now have to offer packages in more exotic locales, where Internet research is less effective. While it could be fun, that research takes a lot of time and money -- as will all the marketing to convince customers that you're a step up from their guidebooks, or that you can offer them better deals than they can find on their own.
Fantastic Four:
Internet Services -- Having your own web-related service can yield many results. Technology has become so essential in our daily lives that every home has at least one household computer and businesses are reliant on the Internet. Additionally, in the next three years the number of people who use the Internet is projected to grow to more than 2 billion, that is about one third of the world's population, reports Inc.com.
Computer related services -- As more people, world wide, begin to buy computers at a low cost, the need for computer-related services will grow too. If you have a background in information technology and can help people eliminate viruses, or fix a reoccurring computer problem, you could be the next "Geek on Call."
Child Care Services -- The child care/daycare industry has become one of the fastest growing businesses in the United States. What's more, this industry makes $11 billion annually -- and it's projected to keep growing. This may be the ideal small business for stay-at-home moms who want to be entrepreneurs as well.
Home Health Care Services -- A small home health care business can reach many people. Each year more than 7.6 million people need home health care service reports the National Association for Home Care. The aging American population and advancements in medical technologies have spurred the necessity for qualified home health care professionals. This is a great opportunity to build a business that can help people for years to come.
The small businesses world is a tough arena. But your dedication and hard work -- coupled with the foresight to know what products people need -- can keep you in business for a long time to come.
Conversely, there are some small businesses that are on the verge of booming due to an increase in demand: child care services; computer-related/Internet related services; and home health care services. Before you run off to start your own Internet-child-care hospice, take a look at four of the hardest small businesses to run (according to Forbes) as well as four of the most successful to date (according to Inc.com):
Four the Hard Way:
Transportation -- This big category includes taxis, limos, ambulances, hearses and other vehicles for hire. All operators pay high insurance premiums, suffer during oil spikes and have tons of competition, but each mode has its own risks, too. Take taxis: In New York City, where the number of taxis has been fixed since 1937, the price of a taxi license is upwards of $400,000 -- a stiff entry price to do battle, even in a $1.8 billion market. Then you have to find trustworthy drivers to pull in revenue -- unless you enjoy grueling 10-plus-hour shifts.
Retail stores -- It only takes one slow season to leave you swimming in inventory. And differentiating your shop among giants, such as Nordstrom, Gap or Urban Outfitters is not easy.
Restaurants -- Purchasing the furniture and equipment, a liquor license, and passing the health code can run in the hundreds of thousands of dollars. Once you open your doors, get ready for your staff to walk out through them at a moment's notice. Oh, yeah: Most food-service vendors like cash on delivery, so a slow week can make it hard to buy next week's ingredients or alcohol.
Travel Agencies and Tour Operators -- Travel is a do-it-yourself activity these days, with online travel search firms like Expedia and Priceline.com. To attract paying customers, agents and tour organizers now have to offer packages in more exotic locales, where Internet research is less effective. While it could be fun, that research takes a lot of time and money -- as will all the marketing to convince customers that you're a step up from their guidebooks, or that you can offer them better deals than they can find on their own.
Fantastic Four:
Internet Services -- Having your own web-related service can yield many results. Technology has become so essential in our daily lives that every home has at least one household computer and businesses are reliant on the Internet. Additionally, in the next three years the number of people who use the Internet is projected to grow to more than 2 billion, that is about one third of the world's population, reports Inc.com.
Computer related services -- As more people, world wide, begin to buy computers at a low cost, the need for computer-related services will grow too. If you have a background in information technology and can help people eliminate viruses, or fix a reoccurring computer problem, you could be the next "Geek on Call."
Child Care Services -- The child care/daycare industry has become one of the fastest growing businesses in the United States. What's more, this industry makes $11 billion annually -- and it's projected to keep growing. This may be the ideal small business for stay-at-home moms who want to be entrepreneurs as well.
Home Health Care Services -- A small home health care business can reach many people. Each year more than 7.6 million people need home health care service reports the National Association for Home Care. The aging American population and advancements in medical technologies have spurred the necessity for qualified home health care professionals. This is a great opportunity to build a business that can help people for years to come.
The small businesses world is a tough arena. But your dedication and hard work -- coupled with the foresight to know what products people need -- can keep you in business for a long time to come.
Friday, April 11, 2008
Offering Your Own Gift Cards Can Increase Profit and Loyalty
Contrary to general belief, Gift Cards are not just for large national retailers anymore. Business of all sizes and consumers are realizing the benefit of offering their own gift cards. The concept of gift certificates has been around for some time. But, unlike gift certificates, a customer can recharge the gift card by putting additional amounts on the card over and over again.
Some benefits of a gift card include.
Some benefits of a gift card include.
- It is convenient. Consumers prefer to have a card rather than cash in their wallet or purses. Studies shows that consumers spend more money with plastic than with checks or cash
- Improved cash flow. You get the benefit of having the cash from a gift card purchase today, while the actual usage (expense to you) will not occur till sometime in the future
- And they return more frequently to those establishments that offer gift cards.
- Any opportunity for fraud is reduced because the card is not activated until it is sold to the customer. You can easily track who sold the card and the time of the transaction.
- Most importantly, a gift card can be easily accounted and there is not chargeback. You can easily track:
how many cards sold
number of cards in stock
who sold the card
card redemption and
outstanding cards in circulation - National retailers have realized that customers spend more with a prepaid gift card, than with cash. It increases impulse spending which increases sales and improves customer loyalty. Your customers can purchase your gift cards as presents to others- especially if they like your service and what you provide.
- A Gift and Loyalty card is an excellent tool to create and build your image, while separating yourself from your competition. Cost of implementing a gift card program is small compared to other promotions.
- With all those benefits, the biggest is a term called, slippage which refers to the amount of money that a merchant retains when a gift card is not fully redeemed. This could be as much 4 - 8% of gift card sales to your bottom line. This is pure profit to the merchant as it is money that is never spent. Even if the customer recharges the card, there comes a time where some money is left on the gift card and it goes to you.
- And, you can use gift cards as part of a program to incentivize your loyal customers to purchase more- like a rewards program similar to what airlines and other big businesses offer.
Why let the major merchants enjoy all the benefits of gift cards. Quickcash4biz has a wide range of gift/loyalty cards, and marketing experts to help you design a program that will increase both your profits and the loyalty of your customers- and attract new ones.
Thursday, April 10, 2008
Cash Flow Problems Can Kill Your Business- How to Avoid That
In a recent study by a major U.S. Bank, it found that over 82 percent of small business failures are due to lack of access to working capital or in some cases poor cash management. To prevent this from happening to your business, here are some things to remember.
Profits are accounting, not cash. And accounting is a lot more creative than you think. You can't pay bills with profits. You can make profits without making any money.
Growth uses cash. Sometimes the best of times can be hiding the worst of times. Yes, of course you want to grow; we all want to grow our businesses. But be careful because growth costs cash. It's a matter of working capital. The faster you grow, the more financing you need.
Slow times devour cash. In this economy, not all that many small business owners and retailers are on high growth curves- rather, business is either holding steady or down, and for many retailers slow or off seasons are approaching. While there are some costs you can trim, there are many fixed costs that you incur regardless of the number of customers you have. In the past many retailers have used profits in busy times to carry them through the leaner times- knowing that things will pick up shortly or there friendly banker will help them out when needed.
In today’s economy, over 90% of small businesses that apply for a bank loan are rejected.
Working capital is your best survival skill. It's either money in the bank or access to credit or loans that make up your working capital. If you have enough money in the bank, or access to lines of credit already in place, congratulations- but make sure they are still viable.
Make sure the working capital you think you have lined up is still lined up. Many small business owners have used home equity lines of credit or their personal credit cards as a source of working capital. Recently, banks have begun arbitrarily reducing the credit limit on lines of credit, and credit card companies have been doing the same with credit limits on entire segments of credit card holders. And, doing this with NO prior notice.
If my bank says no, what options do I have to get working capital. There are options available, but remember that banks are becoming much more difficult as a source of working capital for small businesses. We have a free e-book “10 ways that small businesses can get working capital in today’s economy” that you can get by emailing dave@quickcash4biz.com.
A great alternative source of working capital- unsecured at that! It’s ironic in this day of tight credit, especially for small business owners, that one of the least-known, secret ways to receive financing for small businesses is probably their single best way to obtain needed working capital. But, the secret is out- the financing method is called a credit card advance, and the solution is RapidCash from http://www.quickcash4biz.com/.
Any small business that accepts Visa/MasterCard as methods of payment can actually receive working capital/cash today in exchange for a portion of their future credit card billings on a discounted basis. This allows the small business owner to receive a lump sum of cash today, without incurring the debt that a bank loan, a credit card, or other types of credit demands. Credit card advance allows a small business owner to "sell a future asset at a discount", their future credit card sales. Quickcash4biz provides working capital for small business owners that in today’s tight credit market have not had success applying for additional working capital with traditional lenders like banks.
Quickcash4biz is almost the anti-bank. With our RapidCash cash advance program, we can get approval usually within 48 hours and cash in the small business owner’s account typically within 7-10 days and with a minimum of paperwork and hassle.
§ You can be eligible for $3,000 to $300,000 per location
§ No signing personally or putting up collateral
§ No fee to apply or closing fees
§ No restrictions on use of cash
§ High approval rate
The cash advance is recovered automatically by taking a small % of each Visa and MasterCard transaction until the cash advance is repaid.
In today’s economy, its wise to make sure you have a source of working capital- even multiple sources---before you need it. Emergencies occur quickly, so always have a plan in place for acquiring working capital.
Profits are accounting, not cash. And accounting is a lot more creative than you think. You can't pay bills with profits. You can make profits without making any money.
Growth uses cash. Sometimes the best of times can be hiding the worst of times. Yes, of course you want to grow; we all want to grow our businesses. But be careful because growth costs cash. It's a matter of working capital. The faster you grow, the more financing you need.
Slow times devour cash. In this economy, not all that many small business owners and retailers are on high growth curves- rather, business is either holding steady or down, and for many retailers slow or off seasons are approaching. While there are some costs you can trim, there are many fixed costs that you incur regardless of the number of customers you have. In the past many retailers have used profits in busy times to carry them through the leaner times- knowing that things will pick up shortly or there friendly banker will help them out when needed.
In today’s economy, over 90% of small businesses that apply for a bank loan are rejected.
Working capital is your best survival skill. It's either money in the bank or access to credit or loans that make up your working capital. If you have enough money in the bank, or access to lines of credit already in place, congratulations- but make sure they are still viable.
Make sure the working capital you think you have lined up is still lined up. Many small business owners have used home equity lines of credit or their personal credit cards as a source of working capital. Recently, banks have begun arbitrarily reducing the credit limit on lines of credit, and credit card companies have been doing the same with credit limits on entire segments of credit card holders. And, doing this with NO prior notice.
If my bank says no, what options do I have to get working capital. There are options available, but remember that banks are becoming much more difficult as a source of working capital for small businesses. We have a free e-book “10 ways that small businesses can get working capital in today’s economy” that you can get by emailing dave@quickcash4biz.com.
A great alternative source of working capital- unsecured at that! It’s ironic in this day of tight credit, especially for small business owners, that one of the least-known, secret ways to receive financing for small businesses is probably their single best way to obtain needed working capital. But, the secret is out- the financing method is called a credit card advance, and the solution is RapidCash from http://www.quickcash4biz.com/.
Any small business that accepts Visa/MasterCard as methods of payment can actually receive working capital/cash today in exchange for a portion of their future credit card billings on a discounted basis. This allows the small business owner to receive a lump sum of cash today, without incurring the debt that a bank loan, a credit card, or other types of credit demands. Credit card advance allows a small business owner to "sell a future asset at a discount", their future credit card sales. Quickcash4biz provides working capital for small business owners that in today’s tight credit market have not had success applying for additional working capital with traditional lenders like banks.
Quickcash4biz is almost the anti-bank. With our RapidCash cash advance program, we can get approval usually within 48 hours and cash in the small business owner’s account typically within 7-10 days and with a minimum of paperwork and hassle.
§ You can be eligible for $3,000 to $300,000 per location
§ No signing personally or putting up collateral
§ No fee to apply or closing fees
§ No restrictions on use of cash
§ High approval rate
The cash advance is recovered automatically by taking a small % of each Visa and MasterCard transaction until the cash advance is repaid.
In today’s economy, its wise to make sure you have a source of working capital- even multiple sources---before you need it. Emergencies occur quickly, so always have a plan in place for acquiring working capital.
Goal Setting Steps For Home Business SUCCESS
And Why They MUST be Reachable!!!!
It’s been said that everyone has goals, whether we know it or not. We have goals to keep our current job, or to get a different one. We have goals to save for the future, or to travel, take a vacation, or purchase the things we need and want to make our lives more enjoyable. An important distinction, however, is that top achievers are very intentional and focused on their goals, while many of the rest of us are not.
Top achievers know that the wording, structure, timing and format of a goal can make its achievement much easier – or far more difficult. Top achievers understand the basic skills for setting and reaching their goals, every time! They know how to design goals that create success.
Here are some simple yet effective and proven set of steps that if you follow I believe you will be amazed at how easy it is to set and achieve your goals:
1. Reachable goals are SPECIFIC. Top achievers know that to reach their goals, the brain must know exactly, precisely, what they are trying to accomplish. Never word a goal with vague terms like “some” or “a little bit”, or “more”. Be specific! If you want to lose 8 pounds and reach a weight of 175, specify those exact numbers. If you want to save $200 this month, be exact. Your brain can help you accomplish almost anything if it knows precisely what you are aiming for.
2. Reachable goals are SIMPLE. Many people describe their goals in complex terms of retiring on the beach in Hawaii, with nice cars and lots of money, and…. their list goes on and on. Any ONE of those things is a great goal, but the combination becomes over whelming and the brain gets confused. If you want to retire in Hawaii, just say so! If you want to increase your sales by 10% this month, say so! Keep your goals simple, clear, and focused.
3. Reachable goals are SIGNIFICANT. No one can muster the enthusiasm, hard work and courage to reach a goal they don’t really care about. A reachable goal is one you really, really, REALLY want! It’s something that will change your life, enhance your health or wealth, and make you proud. It gets your juices flowing, gets you up in the morning, and keeps you going all day long, because it is important! Set goals that are worth achieving!
4. Reachable goals are STRATEGIC. High achievers know that the best goals accomplish many great outcomes, all at one time. Running a 10K race will almost certainly: 1) feel great! 2) help you lose weight 3) lower your cholesterol level 4) strengthen your heart 5) lower you risk of heart disease 6) increase your energy and stamina, and 7) improve your outlook. Design your goals to strategically impact as many areas of your life as possible. You’ll have more reasons to reach your goal and more excitement when you do!
5. Reachable goals are MEASURABLE. A goal without a measurable outcome is just a pipe-dream. You can’t achieve a pound of “happiness” or 6 inches of “self-esteem”, but you CAN get a new job. You CAN run a mile in under 7 minutes, or do 100 sit-ups. Someone has wisely observed that, “What gets measured, gets done.” Define your goals in terms of height, weight, dollars, inches, or hours. Then measure your progress until you achieve your desired outcome.
6. Reachable goals are RATIONAL. To reach your goal, you will need a plan, a path, and a vehicle for getting there. Your goals must make sense! When you explain them to friends and family, your goals should create excitement, draw support, and promote encouragement. Your goals should be just out of reach, but not out of sight! You want to stretch to be your best, not strain after impossible dreams. Set goals you CAN and WILL achieve!
7. Reachable goals are TANGIBLE. Choose goals that you can see, hear, smell or touch. Go for things you will enjoy and that you can clearly visualize. The brain has hard time going for “financial security”, but it can visualize a bank statement with nice, large numbers on it! Define your goals in terms that excite the senses, and then go for it with all your heart!
8. Reachable goals are WRITTEN. High achievers always know precisely what they want, because they’ve written it down. Often, they write a short description of their goals every single morning, as a personal reminder of their priorities and their objectives. The act of writing your goals down vastly increases your chance of success. Write it down! Then, keep your notes where you can see and read them every day.
9. Reachable goals are SHARED. We are far more likely to stick to our plan and reach our goals if we know our friends and family support us. Being part of a team increases our determination, our stamina, and our courage. Caution: Never share your goals with anyone who may ridicule, tease or discourage you! The world is full of doubters and you have no time for them. Instead, find a support team, a group of cheerleaders, and a coach who will encourage you every step of the way. High achievers count on and work with other winners!
10. Reachable goals are CONSISTENT WITH YOUR VALUES. One of the biggest reasons people fail to achieve their goals is that they have conflict between their behavior and their values. However, when your values and your goals are in agreement, there is no stopping you! Clarify your values first, and then set simple, specific, measurable, tangible, written goals that are consistent with those values. You will achieve them, every single time!
Success is a Choice!!!
It’s been said that everyone has goals, whether we know it or not. We have goals to keep our current job, or to get a different one. We have goals to save for the future, or to travel, take a vacation, or purchase the things we need and want to make our lives more enjoyable. An important distinction, however, is that top achievers are very intentional and focused on their goals, while many of the rest of us are not.
Top achievers know that the wording, structure, timing and format of a goal can make its achievement much easier – or far more difficult. Top achievers understand the basic skills for setting and reaching their goals, every time! They know how to design goals that create success.
Here are some simple yet effective and proven set of steps that if you follow I believe you will be amazed at how easy it is to set and achieve your goals:
1. Reachable goals are SPECIFIC. Top achievers know that to reach their goals, the brain must know exactly, precisely, what they are trying to accomplish. Never word a goal with vague terms like “some” or “a little bit”, or “more”. Be specific! If you want to lose 8 pounds and reach a weight of 175, specify those exact numbers. If you want to save $200 this month, be exact. Your brain can help you accomplish almost anything if it knows precisely what you are aiming for.
2. Reachable goals are SIMPLE. Many people describe their goals in complex terms of retiring on the beach in Hawaii, with nice cars and lots of money, and…. their list goes on and on. Any ONE of those things is a great goal, but the combination becomes over whelming and the brain gets confused. If you want to retire in Hawaii, just say so! If you want to increase your sales by 10% this month, say so! Keep your goals simple, clear, and focused.
3. Reachable goals are SIGNIFICANT. No one can muster the enthusiasm, hard work and courage to reach a goal they don’t really care about. A reachable goal is one you really, really, REALLY want! It’s something that will change your life, enhance your health or wealth, and make you proud. It gets your juices flowing, gets you up in the morning, and keeps you going all day long, because it is important! Set goals that are worth achieving!
4. Reachable goals are STRATEGIC. High achievers know that the best goals accomplish many great outcomes, all at one time. Running a 10K race will almost certainly: 1) feel great! 2) help you lose weight 3) lower your cholesterol level 4) strengthen your heart 5) lower you risk of heart disease 6) increase your energy and stamina, and 7) improve your outlook. Design your goals to strategically impact as many areas of your life as possible. You’ll have more reasons to reach your goal and more excitement when you do!
5. Reachable goals are MEASURABLE. A goal without a measurable outcome is just a pipe-dream. You can’t achieve a pound of “happiness” or 6 inches of “self-esteem”, but you CAN get a new job. You CAN run a mile in under 7 minutes, or do 100 sit-ups. Someone has wisely observed that, “What gets measured, gets done.” Define your goals in terms of height, weight, dollars, inches, or hours. Then measure your progress until you achieve your desired outcome.
6. Reachable goals are RATIONAL. To reach your goal, you will need a plan, a path, and a vehicle for getting there. Your goals must make sense! When you explain them to friends and family, your goals should create excitement, draw support, and promote encouragement. Your goals should be just out of reach, but not out of sight! You want to stretch to be your best, not strain after impossible dreams. Set goals you CAN and WILL achieve!
7. Reachable goals are TANGIBLE. Choose goals that you can see, hear, smell or touch. Go for things you will enjoy and that you can clearly visualize. The brain has hard time going for “financial security”, but it can visualize a bank statement with nice, large numbers on it! Define your goals in terms that excite the senses, and then go for it with all your heart!
8. Reachable goals are WRITTEN. High achievers always know precisely what they want, because they’ve written it down. Often, they write a short description of their goals every single morning, as a personal reminder of their priorities and their objectives. The act of writing your goals down vastly increases your chance of success. Write it down! Then, keep your notes where you can see and read them every day.
9. Reachable goals are SHARED. We are far more likely to stick to our plan and reach our goals if we know our friends and family support us. Being part of a team increases our determination, our stamina, and our courage. Caution: Never share your goals with anyone who may ridicule, tease or discourage you! The world is full of doubters and you have no time for them. Instead, find a support team, a group of cheerleaders, and a coach who will encourage you every step of the way. High achievers count on and work with other winners!
10. Reachable goals are CONSISTENT WITH YOUR VALUES. One of the biggest reasons people fail to achieve their goals is that they have conflict between their behavior and their values. However, when your values and your goals are in agreement, there is no stopping you! Clarify your values first, and then set simple, specific, measurable, tangible, written goals that are consistent with those values. You will achieve them, every single time!
Success is a Choice!!!
Wednesday, April 9, 2008
Potential Tax Advantages for Home Businesses:
First, I’m not a tax professional, and you always need to check with your tax professional. This is merely for information and in no way constitutes advice, but merely suggesting some areas where you could contact your tax professional to see if you qualify for deductions from your home business.
Among the many advantages of having your home based Internet business can be included tax advantages. I know you are looking to get started in the exciting world of the Internet for your home business future for a variety of reasons, staying at home, making extra money, quitting your job, spending more time with family and so on………………. But very aware people also could minimize the tax they pay legally by taking advantage of the tax benefits afforded small business.
Being self-employed could save you thousands of dollars! Here's just a few of the things that may be fully or partially deductible:
o DSL or internet connectivity fees
o Software associated with your business (i.e. intuit)-
o Your cell phone or land line charges
o Your home office
o Business start up costs
o Mileage and travel expenses
o Mailing and other related expenses
o A portion of your utilities
o Office supplies
o Business lunches or dinners
o That new computer you need to run your business
o That nifty Apple iPhone you require for on-the-go calling
o Software
o Postage
o Bank Fees
And the list goes on and one. Many of these things you're paying for right now. Wouldn't it be great if you could right them off? Of course you'll want to consult your accountant or tax professional as laws vary from state to state, country to country and year to year, but we can promise you this: having a home-based business should help keep more of your hard earned money in your pocket instead of The Tax Man's!
Among the many advantages of having your home based Internet business can be included tax advantages. I know you are looking to get started in the exciting world of the Internet for your home business future for a variety of reasons, staying at home, making extra money, quitting your job, spending more time with family and so on………………. But very aware people also could minimize the tax they pay legally by taking advantage of the tax benefits afforded small business.
Being self-employed could save you thousands of dollars! Here's just a few of the things that may be fully or partially deductible:
o DSL or internet connectivity fees
o Software associated with your business (i.e. intuit)-
o Your cell phone or land line charges
o Your home office
o Business start up costs
o Mileage and travel expenses
o Mailing and other related expenses
o A portion of your utilities
o Office supplies
o Business lunches or dinners
o That new computer you need to run your business
o That nifty Apple iPhone you require for on-the-go calling
o Software
o Postage
o Bank Fees
And the list goes on and one. Many of these things you're paying for right now. Wouldn't it be great if you could right them off? Of course you'll want to consult your accountant or tax professional as laws vary from state to state, country to country and year to year, but we can promise you this: having a home-based business should help keep more of your hard earned money in your pocket instead of The Tax Man's!
10 Steps in Considering A Work at Home Internet Affiliate Business
It seems like all one hears this year is about the many, many companies offering “can’t miss” ways to make money on the internet- doing rebates, being an affiliate, being sold programs where people “teach you” what to do for 5 figures so that you can be successful promoting their products, cross promoting and on and on. Well, we all want to make money and the ads and claims are certainly pretty convincing- but in the end, how many people are really successful. And more importantly, what should you think about when considering your first foray into the world of the internet home business arena so you can maximize the return on the time and money you will have to invest.
When you look at most of the Internet Home Business programs being offered today, it seems the main selling points for all of these various programs boil down to-
§ It’s easy
§ Not much effort on your part and you can get big $$$$$$$
§ You need to know new things, and we can teach you so don’t worry about what you do not know
§ We will make you successful
I realize that those offering you the opportunity will be very persuasive and confident of your success and while that may be true; I have a more cautious perspective. This perspective is based upon years and years of marketing experience, starting numerous businesses as an entrepreneur and living through plenty of ups and downs- and I can sincerely offer what I feel is very sound advice for your consideration.
If you want to be successful, and I define success as being the receipt of a reasonable amount of cash for the time you invest, you need to be in an Internet business where if all else fails, you can still generate income commensurate with you time investment.
Here are my steps for achieving this, or at least minimizing your financial and time risk:
1. Select an opportunity where you are not dependent on being the number 1 site on Google or where ever. I call this Plan A. Sounds swell, but there can only be a handful of sites within various categories that have high rankings. In general, most internet business opportunities promote that fact that prospects will be driven to your landing page or site- well think about it, if they have thousands of clients like you, who will end being number 1.
3. Select an opportunity where instead of trusting the person trying to sell you the opportunity, you can do research yourself to determine if the end purchaser (someone always has to be the end purchaser) of what you are offering has a strong reason to purchase the product or service your internet business will be promoting.
4. The acid test- If you put yourself in the shoes of the ultimate purchaser, would you purchase what you are offering.
5. Also, if your internet business has some unique selling points, or deals in an area that is not saturated with competitors, that is also a good thing. Being a small fish in a big pool is not necessarily a good thing, especially if you are late into the pool.
6. Write a short business plan, where you can see that the steps you need to take to be successful, and think about what will occur if the promises made do not materialize or fall short of expectations. How would you compensate for those shortcomings- would it still be a viable business opportunity?
Then, make certain that the program you select has enough support material, and a solid plan for success so you can visualize and measure how you will be successful. Match this plan against your own short internal business plan to make sure you have thought things through thoroughly!
7. How soon do you expect financial compensation and does your amount and timeframe match those that the company promotes.
8. Investigate internet educational sources and take a class or two to provide you at least basic education on the aspects of the internet that your business will be dependent on. This will at least provide you with knowledge and an understanding of various internet concepts and technologies so that you can more effectively communicate with the promoters of your business opportunity should things not go as planned.
9. I’d strongly suggest that your first internet business would be a small initial investment but with good upside and give you an opportunity to learn. Think very hard if you are approached about a program where people are offering to teach and coach you into your own internet business for $5,000, $10,000 or more that realistically has a very small chance of ever coming close to recouping the initial investment much less the time spent.
10. Get started, put passion and energy into your internet home business, and live out your visualization of success.
Tuesday, April 1, 2008
How to Get Working Capital for Your Franchise
Being alarmed by the dramatic changes in the lending environment in recent months, many franchise owners have arrived at the realization that it's time to consider diversifying financing sources to find new ways to protect themselves from ever-changing and tightening credit policies.
Banks and other traditional funding sources that used to be “reliable” suddenly are anything but. Going back to your old friendly banker at the last minute may find the banker not that friendly anymore, and the franchise owner in a major cash crunch.
Why is financing in today’s economic times such an obstacle in the franchise development and expansion business? Because traditional lenders (banks and savings and loans) have historically based credit decisions on the strength of your collateral ("hard" assets), and many non-traditional lenders (non-bank lenders, insurance companies, leasing companies) who are often considered "cash flow lenders," have had their policies and access to capital to lend dramatically altered.
What's the best way to ensure your success in establishing and maintaining funding relationships that won't derail your development goals? By carefully selecting a lending source that has recently approved and closed working capital “loans” similar to what you are seeking.
Did you know that there is a new innovative proven way for franchise owners to get the working capital they need, not by pledging hard assets, but by pledging a portion of their future credit card sales in exchange for a lump sum cash advance today.
It’s called an Unsecured Business Line of Credit, of Credit Card Cash Advance. Hundreds of franchise owners from dozens of franchises have already taken advantage of this little known but highly effective way of getting working capital on a timely basis.
It works this way. We “purchase” a portion of your future credit card sales at a discount and give you a lump sum of cash today. The advance is repaid by taking a small % of each credit card sale until it’s repaid. Couldn’t be simpler.
There is no fee for application, no signing personally, no collateral required, no usage of funds specified and it doesn’t impact either your personal or business credit. Why, it’s not a loan, it’s a cash advance against future credit card billings.
In today’s economy, trying to get a traditional small business loan for your franchise can be overwhelming, frustrating and time consuming, often ending in failure- which is why alternative innovative sources of working capital should be considered. To insure that you get working capital when you need it without assuming that the old sources will always be available, you should consider all available sources like a credit card cash advance long before your need to cash becomes critical.
Banks and other traditional funding sources that used to be “reliable” suddenly are anything but. Going back to your old friendly banker at the last minute may find the banker not that friendly anymore, and the franchise owner in a major cash crunch.
Why is financing in today’s economic times such an obstacle in the franchise development and expansion business? Because traditional lenders (banks and savings and loans) have historically based credit decisions on the strength of your collateral ("hard" assets), and many non-traditional lenders (non-bank lenders, insurance companies, leasing companies) who are often considered "cash flow lenders," have had their policies and access to capital to lend dramatically altered.
What's the best way to ensure your success in establishing and maintaining funding relationships that won't derail your development goals? By carefully selecting a lending source that has recently approved and closed working capital “loans” similar to what you are seeking.
Did you know that there is a new innovative proven way for franchise owners to get the working capital they need, not by pledging hard assets, but by pledging a portion of their future credit card sales in exchange for a lump sum cash advance today.
It’s called an Unsecured Business Line of Credit, of Credit Card Cash Advance. Hundreds of franchise owners from dozens of franchises have already taken advantage of this little known but highly effective way of getting working capital on a timely basis.
It works this way. We “purchase” a portion of your future credit card sales at a discount and give you a lump sum of cash today. The advance is repaid by taking a small % of each credit card sale until it’s repaid. Couldn’t be simpler.
There is no fee for application, no signing personally, no collateral required, no usage of funds specified and it doesn’t impact either your personal or business credit. Why, it’s not a loan, it’s a cash advance against future credit card billings.
In today’s economy, trying to get a traditional small business loan for your franchise can be overwhelming, frustrating and time consuming, often ending in failure- which is why alternative innovative sources of working capital should be considered. To insure that you get working capital when you need it without assuming that the old sources will always be available, you should consider all available sources like a credit card cash advance long before your need to cash becomes critical.
How to Get Money for Your Small Business
From Our Series on Financing Solutions for Small Businesses
In any economic period, getting a loan or credit line from a bank or traditional lender to build, sustain and/or promote your small business is difficult. In today’s economy, it’s almost impossible to get a traditional small business loan or line of credit unless you are large, very profitable, have exceptional personal and business credit scores and have a long track record in business- in other words probably do not need the money.
I’ve written an informative e-book called “10 ways for small business to get working capital in today’s economy” which is free. From this-book, I’d like to focus on just one of the way’s small business can receive the working capital they need; the one that I feel makes the most sense for the majority of small business owners that accept credit cards as a method of payment for their products and/or services.
And one that I can recommend to those struggling entrepreneurs who have sacrificed and put everything into their business who ask me the question- “I now have poor personal credit and can’t get a loan and don’t know what to do. Do you have options?”
Well, the option I’m going to recommend is one that works regardless of your personal credit score, is not a loan, requires no collateral, no signing personally, no restrictions on use of funds, no fixed repayment and best of all can get you the lump sum of cash you can use for working capital within 5-10 days. It’s called an Unsecured Business Line of Credit, or Credit Card Cash Advance.
It works like this. A lender will purchase a portion of your future credit card charges at a discount, and provide you a lump sum of cash today. The cash advance is repaid over time by taking a small % of your Visa/MasterCard charges until it’s repaid. When you have a big charge month, more is repaid, when you have a slow month, less is repaid- the ultimate in flexibility. And, you get to keep 100% of all cash, checks, Discover, AMEX; the repayment is only based upon Visa and MasterCard billings.
You can renew the advance when you have repaid 70% or more of the original advance.
Application is free to find out how much you qualify for and what the discount amount is, and compared to a traditional loan extremely simple to apply.
I always recommend that small businesses plan ahead when it comes to potential small business financing needs- and never- never wait till you absolutely need the cash. Then it’s often too late to acquire it in the time period you need it in.
In any economic period, getting a loan or credit line from a bank or traditional lender to build, sustain and/or promote your small business is difficult. In today’s economy, it’s almost impossible to get a traditional small business loan or line of credit unless you are large, very profitable, have exceptional personal and business credit scores and have a long track record in business- in other words probably do not need the money.
I’ve written an informative e-book called “10 ways for small business to get working capital in today’s economy” which is free. From this-book, I’d like to focus on just one of the way’s small business can receive the working capital they need; the one that I feel makes the most sense for the majority of small business owners that accept credit cards as a method of payment for their products and/or services.
And one that I can recommend to those struggling entrepreneurs who have sacrificed and put everything into their business who ask me the question- “I now have poor personal credit and can’t get a loan and don’t know what to do. Do you have options?”
Well, the option I’m going to recommend is one that works regardless of your personal credit score, is not a loan, requires no collateral, no signing personally, no restrictions on use of funds, no fixed repayment and best of all can get you the lump sum of cash you can use for working capital within 5-10 days. It’s called an Unsecured Business Line of Credit, or Credit Card Cash Advance.
It works like this. A lender will purchase a portion of your future credit card charges at a discount, and provide you a lump sum of cash today. The cash advance is repaid over time by taking a small % of your Visa/MasterCard charges until it’s repaid. When you have a big charge month, more is repaid, when you have a slow month, less is repaid- the ultimate in flexibility. And, you get to keep 100% of all cash, checks, Discover, AMEX; the repayment is only based upon Visa and MasterCard billings.
You can renew the advance when you have repaid 70% or more of the original advance.
Application is free to find out how much you qualify for and what the discount amount is, and compared to a traditional loan extremely simple to apply.
I always recommend that small businesses plan ahead when it comes to potential small business financing needs- and never- never wait till you absolutely need the cash. Then it’s often too late to acquire it in the time period you need it in.
Friday, March 21, 2008
Business Cash Advance Funding Financing for Small Businesses
If you have a merchant account and process over $1,500 per month in transactions you have an opportunity to receive a cash advance for up to $300,000 with little regard to your personal credit score. A business cash advance is just that, cash advanced to you! How ever it is not a small business loan, and is not reported against either your business or personal credit history.
The money is advanced against a portion of your future Visa and MasterCard sales, and repaid by taking a small % of each transaction until it’s repaid. A portion of your future credit card sales are purchased at a discount and that is the only charge; there is no interest, application, closing fees, or fixed payment schedule. The business cash advance typically does cost more than a bank loan, but instead of the weeks and weeks and guarantees required to go thru the bank small business loan process (and assuming it’s approved), the business cash advance funding approval is usually within 24-48 hours and funding within 5-10 days. As this approach to getting working capital becomes more popular (300% increase this year over last), the times for both approval and funding will become extended.
I mentioned this option to a retail small business owner the other day and his response was that the fees are too high and he didn't feel it was worth it. I mention this because every type of financing has different requirements, fees, interest rates and terms. Some will fit your needs while others won't. It's up to you to decide what's best for you, however, it is also best to find financing before you need it. So regardless of your situation you should have something in place. You never want to be applying for a loan with a bank on Monday in order to make payroll on Friday. (I've seen this too often.) And, in case you have not checked lately, banks now on average decline 92% of small business loans.
If you have excellent credit (720+ FICO Score) you may want to first look at other financing options, usually a bank loan. The bank rules have changed in the past few months, so you should probably check first rather than assuming it would not be an issue. However, if you have less than excellent credit or not an acceptable debt to earnings ratio, and accept credit cards and your Visa/MasterCard charges exceed $1,500 per month a Business Cash Advance Financing option may be exactly what you need.
The fact that with traditional loans, you usually have to sign personally or put up collateral, make a fixed payment each month regardless of how your business is doing, and have the business loan reported on your credit reports should be also considered when making a decision on what avenues to pursue when you need to get an injection of working capital.
The money is advanced against a portion of your future Visa and MasterCard sales, and repaid by taking a small % of each transaction until it’s repaid. A portion of your future credit card sales are purchased at a discount and that is the only charge; there is no interest, application, closing fees, or fixed payment schedule. The business cash advance typically does cost more than a bank loan, but instead of the weeks and weeks and guarantees required to go thru the bank small business loan process (and assuming it’s approved), the business cash advance funding approval is usually within 24-48 hours and funding within 5-10 days. As this approach to getting working capital becomes more popular (300% increase this year over last), the times for both approval and funding will become extended.
I mentioned this option to a retail small business owner the other day and his response was that the fees are too high and he didn't feel it was worth it. I mention this because every type of financing has different requirements, fees, interest rates and terms. Some will fit your needs while others won't. It's up to you to decide what's best for you, however, it is also best to find financing before you need it. So regardless of your situation you should have something in place. You never want to be applying for a loan with a bank on Monday in order to make payroll on Friday. (I've seen this too often.) And, in case you have not checked lately, banks now on average decline 92% of small business loans.
If you have excellent credit (720+ FICO Score) you may want to first look at other financing options, usually a bank loan. The bank rules have changed in the past few months, so you should probably check first rather than assuming it would not be an issue. However, if you have less than excellent credit or not an acceptable debt to earnings ratio, and accept credit cards and your Visa/MasterCard charges exceed $1,500 per month a Business Cash Advance Financing option may be exactly what you need.
The fact that with traditional loans, you usually have to sign personally or put up collateral, make a fixed payment each month regardless of how your business is doing, and have the business loan reported on your credit reports should be also considered when making a decision on what avenues to pursue when you need to get an injection of working capital.
Wednesday, March 19, 2008
Banks Are Tightening Credit Requirements
Recent mortgage issues have caused banks to seriously look at their bottom lines and as a result there has been a ripple effect that unfortunately reaches down to small business owners.
In early March, The Federal Reserve surveyed U.S. banks and found that one third of them have recently tightened their already tight lending standards for loans to small businesses. The Fed data shows that many lenders, nervous about their bottom line, have increased their credit standards for small business loans at a rate not seen since September 11, 2001, making it harder and more expensive for small businesses to get loans.
With the banks tightening their credit requirements we as entrepreneurs need to explore other strategies for finding the capital we need. One of the most important tools for small business owners is unfortunately one of the least well known, called a RapidCash Credit Card Cash Advance. If you need working capital and have not been able to get it though traditional sources (i.e. banks) and aren’t considering this source of working capital you run the risk of stifling your ability to grow your company and successfully compete.
A RapidCash Credit Card Cash Advance allows a small business owner to receive a lump sum of cash today in exchange for “selling” a portion of their future credit card sales. The business owner receiving the cash does not need to sign personally, put up collateral, nor specify a use of funds. There is no cost for applying or any closing costs, approval usually is within 24-48 hours and funding within 5-10 days. The obligation is retired by the lender taking a small % of each Visa/MasterCard transaction until it is repaid. There is no fixed turn for repayment, if credit card billings are high, more is taken, if there are slow months, less is taken. And Wall Street Coin has a strategy that if implemented makes the Business Credit Card Cash advance almost FREE MONEY.
Of course, free money is the best leverage for any business. The use of other people’s money for a period of time with no cost to you, how much better can it get?
To learn more about how much you can be eligible for, and to discuss our strategies for providing you the working capital you need to grow, prosper, get through slow times or whatever reason, visit http://www.quickcash4biz/
.com.
Credit Card Cash Advances are projected to rise from $700 million in 2007 to over $2 billion in 2008. New programs are being announced almost daily. Quickcash$biz.com has relationships with all the primary Credit Card Cash Advance lenders, and matches our clients requirements with the latest offerings from these lenders to ensure that you get the most favorable arrange possible.
In early March, The Federal Reserve surveyed U.S. banks and found that one third of them have recently tightened their already tight lending standards for loans to small businesses. The Fed data shows that many lenders, nervous about their bottom line, have increased their credit standards for small business loans at a rate not seen since September 11, 2001, making it harder and more expensive for small businesses to get loans.
With the banks tightening their credit requirements we as entrepreneurs need to explore other strategies for finding the capital we need. One of the most important tools for small business owners is unfortunately one of the least well known, called a RapidCash Credit Card Cash Advance. If you need working capital and have not been able to get it though traditional sources (i.e. banks) and aren’t considering this source of working capital you run the risk of stifling your ability to grow your company and successfully compete.
A RapidCash Credit Card Cash Advance allows a small business owner to receive a lump sum of cash today in exchange for “selling” a portion of their future credit card sales. The business owner receiving the cash does not need to sign personally, put up collateral, nor specify a use of funds. There is no cost for applying or any closing costs, approval usually is within 24-48 hours and funding within 5-10 days. The obligation is retired by the lender taking a small % of each Visa/MasterCard transaction until it is repaid. There is no fixed turn for repayment, if credit card billings are high, more is taken, if there are slow months, less is taken. And Wall Street Coin has a strategy that if implemented makes the Business Credit Card Cash advance almost FREE MONEY.
Of course, free money is the best leverage for any business. The use of other people’s money for a period of time with no cost to you, how much better can it get?
To learn more about how much you can be eligible for, and to discuss our strategies for providing you the working capital you need to grow, prosper, get through slow times or whatever reason, visit http://www.quickcash4biz/
.com.
Credit Card Cash Advances are projected to rise from $700 million in 2007 to over $2 billion in 2008. New programs are being announced almost daily. Quickcash$biz.com has relationships with all the primary Credit Card Cash Advance lenders, and matches our clients requirements with the latest offerings from these lenders to ensure that you get the most favorable arrange possible.
Tuesday, March 18, 2008
When Cash Kills a Business
Everyone knows the old saying, “Cash is King”, but what they don’t always realize is that cash can kill a business’s chance for survival and success if the small business owner isn’t careful, plans properly and has a source to get the working capital they need when they need it.
It all comes down to the fact that cash is a finite, rigid resource—in other words, once it’s gone, it’s gone. And, with the business on track for success but just a bit sort, or when opportunities for growth or other needs occur that cash is needed, who can the small business owner turn to. Usually not banks- in fact over 92% of small business owners who approach banks for loans are turned down. While it’s not the right way to treat those entrepreneurs who are the life blood of America, that’s the unfortunate way it is.
The small business owner, who relies only on traditional sources like banks, will frequently come up short at often the worst and most crucial times. The scenario is usually the following: the owner desperately needs supplies, materials, resources, etc., to maintain or expand, BUT, they have run out of working capital. The business ends up floundering and sometimes sinking for good.
No matter how carefully and thorough someone plans and budgets for their business, they are almost ALWAYS going to be under-funded. It’s the unfortunate reality. If you study how companies that used to be small businesses like Fed-EX, Ben and Jerry, Microsoft and on and on became successful, it’s because they were fortunate enough to get working capital when they needed to grow and in some cases survive. Unexpected expenses, inflation, living expenses, health insurance, marketing, taxes, and business cycles all destroy the budget. It’s the reality for many small business owners- the need for cash- and often it’s the difference between failure and their business “taking off.”
Whether a business is booming or in a lull, lack of working capital at the right time could kill it!
Many small business owners will resort to using personal credit, personal loans, or asking friends and family to help. Personal credit is very restrictive. Bad credit means the owner will be denied or charged high interest rates. Great personal credit will be damaged when over-extended for business use and has restrictions relating to debt to income ratios. Friends and family will run out of funds and patience.
There is a little know but extremely effective way for a small business owner to receive the working capital they need to grow, prosper, get through tough times, payoff debts or whatever reason. It’s a total; departure from only thinking about banks, personal credit, credit cards or friends and family It is called Credit Card Cash Advance which is a different, more powerful type of leverage than you probably have ever considered. It’s a new financial path that gives the business owner a tremendous advantage in the competitive world of finance.
Here is how a Credit Card Cash Advance works. Any small business that accepts Visa/MasterCard as method of payment can actually receive working capital/cash today in exchange for a portion of their future credit card billings on a discounted basis. This allows the small business owner to receive a lump sum of cash today, without incurring the debt that a bank loan, a credit card, or other types of credit demands. Credit card advance allows a small business owner to "sell a future asset at a discount", their future credit card sales.
The small business owner does not have to sign personally, put up collateral, or provide a use of funds statement. Application is free, approval usually within 24-48 hours and funding typically within 5-10 days. The obligation is repaid by taking a small % of future Visa/MasterCard credit card sales.
It all comes down to the fact that cash is a finite, rigid resource—in other words, once it’s gone, it’s gone. And, with the business on track for success but just a bit sort, or when opportunities for growth or other needs occur that cash is needed, who can the small business owner turn to. Usually not banks- in fact over 92% of small business owners who approach banks for loans are turned down. While it’s not the right way to treat those entrepreneurs who are the life blood of America, that’s the unfortunate way it is.
The small business owner, who relies only on traditional sources like banks, will frequently come up short at often the worst and most crucial times. The scenario is usually the following: the owner desperately needs supplies, materials, resources, etc., to maintain or expand, BUT, they have run out of working capital. The business ends up floundering and sometimes sinking for good.
No matter how carefully and thorough someone plans and budgets for their business, they are almost ALWAYS going to be under-funded. It’s the unfortunate reality. If you study how companies that used to be small businesses like Fed-EX, Ben and Jerry, Microsoft and on and on became successful, it’s because they were fortunate enough to get working capital when they needed to grow and in some cases survive. Unexpected expenses, inflation, living expenses, health insurance, marketing, taxes, and business cycles all destroy the budget. It’s the reality for many small business owners- the need for cash- and often it’s the difference between failure and their business “taking off.”
Whether a business is booming or in a lull, lack of working capital at the right time could kill it!
Many small business owners will resort to using personal credit, personal loans, or asking friends and family to help. Personal credit is very restrictive. Bad credit means the owner will be denied or charged high interest rates. Great personal credit will be damaged when over-extended for business use and has restrictions relating to debt to income ratios. Friends and family will run out of funds and patience.
There is a little know but extremely effective way for a small business owner to receive the working capital they need to grow, prosper, get through tough times, payoff debts or whatever reason. It’s a total; departure from only thinking about banks, personal credit, credit cards or friends and family It is called Credit Card Cash Advance which is a different, more powerful type of leverage than you probably have ever considered. It’s a new financial path that gives the business owner a tremendous advantage in the competitive world of finance.
Here is how a Credit Card Cash Advance works. Any small business that accepts Visa/MasterCard as method of payment can actually receive working capital/cash today in exchange for a portion of their future credit card billings on a discounted basis. This allows the small business owner to receive a lump sum of cash today, without incurring the debt that a bank loan, a credit card, or other types of credit demands. Credit card advance allows a small business owner to "sell a future asset at a discount", their future credit card sales.
The small business owner does not have to sign personally, put up collateral, or provide a use of funds statement. Application is free, approval usually within 24-48 hours and funding typically within 5-10 days. The obligation is repaid by taking a small % of future Visa/MasterCard credit card sales.
Money for Nothing- Cash for Small Businesses in Dire Straights
Money for nothing, your chicks for free was a famous song by Dire Straits. And speaking of Dire Straits, it’s where many small business owners find themselves in today’s economy because they do not have the same access to capital as larger corporations.
What is the main difference between big businesses who were once small (i.e. Ben and Jerry, AOL etc.) and those that stayed small- the bigger ones had availability of working capital to grow and preserve themselves through hard times.
How do many larger corporations get working capital? Well, it might surprise you but frequently it’s not from profits, it’s from a process called Accounts Receivable Factoring. Factoring, for larger corporations is where large Financial Companies (Factors) purchase the accounts receivables of these larger corporations- take the responsibility for collecting the receivables, and give the corporations cash on a discounted basis.
Factoring is not a business loan. For example, a Factor Company will buy $10,000,000 million worth of receivables and pay $9,500,000 to the corporation- which will then use that money to buy inventory, expand, pay off debts or however they choose to leverage the money received. The Factor’s profits is determined by the difference between the value of the receivables and what they paid for them
Its how big companies stay big- cash flow. And generally how small companies stay small- lack of sources for cash flow!
Unfortunately, for small businesses that are mostly retail, the predominant ways to get working capital when needed are borrowing from friends or family, mortgaging their personal house, using personal credit cards, getting a government business loan (small business loan) or getting a bank loan.
Since banks or other traditional lending sources reject on average 92% of business loans small business owners apply for, where do you go? And to get a business loan unsecured is dreaming these days. What to do if you find yourself in Dire Straits, or just need working capital to take advantage of opportunities.
Fortunately, there is an innovative working capital solution for small business owners- it’s called a business creditcard cash advance or RapidCash by Quickcash4biz.com.
RapidCash works with a merchant account and credit card sales. It lets a business receive cash today in exchange for a portion of future credit card sales. The agreements vary, but generally stipulate that a small percentage from each future Visa/MasterCard credit card transaction is used to repay the obligation. (It's somewhat similar to 'factoring' in AR).
One advantage to this type of getting needed cash flow is that the business can get capital very quickly compared to traditional borrowing (such as a business loan, business grant, or a business line of credit). From the perspective of Quickcash4biz, it's low risk so that lets us get funds to the business quicker. Also, this type of providing cash flow usually does not depend on the borrower's credit history as traditional types of lending do.
Other advantages include on application fee, no personal guarantee required, no collateral, flexibility, and no restrictions on the use of funds. The owner’s personal credit score is not an issue. Usually approval can occur in 24-28 hours and the funds arrive within 5-10 days.
Now, banks, even when lending rules were very liberal would not deliberately do a bad business credit loan. And neither will Quickcash4biz- it’s just that our requirements are much less stringent- that is why RapidCash has a very high approval rate. There are some basic rules and qualifications that apply to get from $3,000 to $300,000 in working capital cash per location..
§ You must have over $3,000 a month in credit card sales
§ You must be in business at least 6 months
§ You must not have any unresolved bankruptcies
§ You must have a lease on the space you occupy
§ Bad credit is not an automatic disqualifier
For more information or to apply, visit www.quickcash4biz.com
What is the main difference between big businesses who were once small (i.e. Ben and Jerry, AOL etc.) and those that stayed small- the bigger ones had availability of working capital to grow and preserve themselves through hard times.
How do many larger corporations get working capital? Well, it might surprise you but frequently it’s not from profits, it’s from a process called Accounts Receivable Factoring. Factoring, for larger corporations is where large Financial Companies (Factors) purchase the accounts receivables of these larger corporations- take the responsibility for collecting the receivables, and give the corporations cash on a discounted basis.
Factoring is not a business loan. For example, a Factor Company will buy $10,000,000 million worth of receivables and pay $9,500,000 to the corporation- which will then use that money to buy inventory, expand, pay off debts or however they choose to leverage the money received. The Factor’s profits is determined by the difference between the value of the receivables and what they paid for them
Its how big companies stay big- cash flow. And generally how small companies stay small- lack of sources for cash flow!
Unfortunately, for small businesses that are mostly retail, the predominant ways to get working capital when needed are borrowing from friends or family, mortgaging their personal house, using personal credit cards, getting a government business loan (small business loan) or getting a bank loan.
Since banks or other traditional lending sources reject on average 92% of business loans small business owners apply for, where do you go? And to get a business loan unsecured is dreaming these days. What to do if you find yourself in Dire Straits, or just need working capital to take advantage of opportunities.
Fortunately, there is an innovative working capital solution for small business owners- it’s called a business creditcard cash advance or RapidCash by Quickcash4biz.com.
RapidCash works with a merchant account and credit card sales. It lets a business receive cash today in exchange for a portion of future credit card sales. The agreements vary, but generally stipulate that a small percentage from each future Visa/MasterCard credit card transaction is used to repay the obligation. (It's somewhat similar to 'factoring' in AR).
One advantage to this type of getting needed cash flow is that the business can get capital very quickly compared to traditional borrowing (such as a business loan, business grant, or a business line of credit). From the perspective of Quickcash4biz, it's low risk so that lets us get funds to the business quicker. Also, this type of providing cash flow usually does not depend on the borrower's credit history as traditional types of lending do.
Other advantages include on application fee, no personal guarantee required, no collateral, flexibility, and no restrictions on the use of funds. The owner’s personal credit score is not an issue. Usually approval can occur in 24-28 hours and the funds arrive within 5-10 days.
Now, banks, even when lending rules were very liberal would not deliberately do a bad business credit loan. And neither will Quickcash4biz- it’s just that our requirements are much less stringent- that is why RapidCash has a very high approval rate. There are some basic rules and qualifications that apply to get from $3,000 to $300,000 in working capital cash per location..
§ You must have over $3,000 a month in credit card sales
§ You must be in business at least 6 months
§ You must not have any unresolved bankruptcies
§ You must have a lease on the space you occupy
§ Bad credit is not an automatic disqualifier
For more information or to apply, visit www.quickcash4biz.com
If the Bank Says NO!- How Can I get Cash I Need to Grow, Increase Profit, Get Through A Slow Time Etc.?
With today’s very tight credit environment, with banks and traditional lenders being ultra conservative, and with one of the last bastions of getting cash for your business (refi-ing your personal home and getting cash out) all but disappearing, what is a small business owner to do!
Well, you have worked too hard growing your business, providing good service and value to your customers to have to pass on opportunities, to cut back, or even consider darker options- just because of a national credit crisis that has nothing to do with your hard work or the viability of your business.
If you find you need working capital for any reason, Quickcash4biz can provide options to get the funding with RapidCash- an innovative way to get the cash you need today rapidly and without the hassles that a traditional lender requires. You will get an answer in 24-48 hours, and with an approval rate of 90%+ most small businesses can get the cash within 5-10 days- up to $300,000 a location..
The quick turnaround is sometimes very important to Small Business Owners. Issues can suddenly arise and places the owners in challenging situations. RapidCash will provide funds with no restriction on use of cash- paying landlords, payment of taxes, keeping current with vendor payments, paying off personal credit cards, buying out partners, getting new equipment to name a few.
The rules for the working capital we provide are dramatically different than a bank or traditional loan. The biggest difference (besides we can get you the cash when banks on average turn down 92% of requests for business loans for small business owners) is that you do not have to sign personally!
Bank Loan financing versus RapidCash Advance:
Bank Financing RapidCash
1. Up front fee’s No Upfront fees
2. Closing costs No Closing cost
3. Financial statements required No Financial statements required
4. Collateral required No Collateral required
5. Fixed term No Fixed term
6. Fixed payment amount No Fixed payment amount
7. High credit scores Credit scores of 500+
8. 3+ years in business to qualify 6 months in business to qualify
9. 12-24 months of credit card statements 4 months of credit card statements
Quickcash4biz will provide working capital to just about any retail establishment who has been in business 6 months or more, and does over $3,000 a month in credit card billing. This includes restaurants, bars, salons, clothing stores, day spas, automotive services, dry cleaners, book stores, franchise owners and retail stores to name a few industries.
In addition, Quickcash4biz assists small business owners through it's small business growth department in the areas of advertising, marketing, and finance. We strive to build a successful life time relationship with all of our clients and to prosper together.This is a totally unique approach to gaining working capital for small business owners. Here is how RapidCash works. You send us your pat 4 months of Visa/MasterCard statement, and some basic business information and how much cash you are looking for. Generally within 24-48 hours we get back with an approval, and how much money you are approved for to receive. Repayment of the advance is achieved by taking a small % of every Visa/MasterCard credit card transaction until the balance is paid. You get to keep 100% of cash, checks, Discover and Amex.With RapidCash, there are no fixed payments, no set repayment term, no upfront or closing costs and Quickcash4biz will assist your funding needs whenever the opportunity to quickly get working capital is important to the success of your business.
Well, you have worked too hard growing your business, providing good service and value to your customers to have to pass on opportunities, to cut back, or even consider darker options- just because of a national credit crisis that has nothing to do with your hard work or the viability of your business.
If you find you need working capital for any reason, Quickcash4biz can provide options to get the funding with RapidCash- an innovative way to get the cash you need today rapidly and without the hassles that a traditional lender requires. You will get an answer in 24-48 hours, and with an approval rate of 90%+ most small businesses can get the cash within 5-10 days- up to $300,000 a location..
The quick turnaround is sometimes very important to Small Business Owners. Issues can suddenly arise and places the owners in challenging situations. RapidCash will provide funds with no restriction on use of cash- paying landlords, payment of taxes, keeping current with vendor payments, paying off personal credit cards, buying out partners, getting new equipment to name a few.
The rules for the working capital we provide are dramatically different than a bank or traditional loan. The biggest difference (besides we can get you the cash when banks on average turn down 92% of requests for business loans for small business owners) is that you do not have to sign personally!
Bank Loan financing versus RapidCash Advance:
Bank Financing RapidCash
1. Up front fee’s No Upfront fees
2. Closing costs No Closing cost
3. Financial statements required No Financial statements required
4. Collateral required No Collateral required
5. Fixed term No Fixed term
6. Fixed payment amount No Fixed payment amount
7. High credit scores Credit scores of 500+
8. 3+ years in business to qualify 6 months in business to qualify
9. 12-24 months of credit card statements 4 months of credit card statements
Quickcash4biz will provide working capital to just about any retail establishment who has been in business 6 months or more, and does over $3,000 a month in credit card billing. This includes restaurants, bars, salons, clothing stores, day spas, automotive services, dry cleaners, book stores, franchise owners and retail stores to name a few industries.
In addition, Quickcash4biz assists small business owners through it's small business growth department in the areas of advertising, marketing, and finance. We strive to build a successful life time relationship with all of our clients and to prosper together.This is a totally unique approach to gaining working capital for small business owners. Here is how RapidCash works. You send us your pat 4 months of Visa/MasterCard statement, and some basic business information and how much cash you are looking for. Generally within 24-48 hours we get back with an approval, and how much money you are approved for to receive. Repayment of the advance is achieved by taking a small % of every Visa/MasterCard credit card transaction until the balance is paid. You get to keep 100% of cash, checks, Discover and Amex.With RapidCash, there are no fixed payments, no set repayment term, no upfront or closing costs and Quickcash4biz will assist your funding needs whenever the opportunity to quickly get working capital is important to the success of your business.
Thursday, March 6, 2008
The “Internet” Work at Home Industry is Booming
The work at home industry is booming, especially where the internet is concerned. You will never find a better time or opportunity to make money online by working from home in front of your computer. The possibilities are endless when it comes to making money online. With all of the technology available to you today, it is completely possible to manage your entire business online from anywhere in the world by using your laptop computer. If you want to stay at home and work with your pajamas on, then you can do that and still make a living for your family. Commuting is no longer required. You do not have to travel and you can save on gas and maintenance on your vehicle. The best part of it all is that you can be your own boss.
The number of people that use the internet continues to dramatically grow monthly. This is a good think for any one who wants to take advantage of working at home on the internet. Statistics show that globally more than 1 billion people use the internet. The internet has forever changed the job scene and the world economy.
According to Entrepreneur magazine 25 million Americans run a home based business. This means that about every 11 seconds someone starts a home based business. That is about 8,000 new people every day, 7 days a week, 365 days a year! The home based business industry has become a $427 billion industry. The biggest reason behind this is that more and more people are searching for other ways of building their future for their families because they are burned out and stressed out from their job. People are wanting to be more independent and if they find the right home based business, then they can find all of that and so much more.
Many people dream of working from home and the funny thing is that most of those people think that working from home is the best thing that can happen. People are looking for ways to spend more time with their families, especially if they have children. They do not want to have to deal with the stress of working for someone else or have to deal with the burn out after working for 40 years for that company.
Some home businesses are better than others. If you break down the home based businesses by the type of business, for example if you belong to a MLM the success rate is actually only 5%. But regardless of how many people succeed there are larger and larger numbers of people who join a home based business each year, and more and more are joining internet home based businesses.
The number of people that use the internet continues to dramatically grow monthly. This is a good think for any one who wants to take advantage of working at home on the internet. Statistics show that globally more than 1 billion people use the internet. The internet has forever changed the job scene and the world economy.
According to Entrepreneur magazine 25 million Americans run a home based business. This means that about every 11 seconds someone starts a home based business. That is about 8,000 new people every day, 7 days a week, 365 days a year! The home based business industry has become a $427 billion industry. The biggest reason behind this is that more and more people are searching for other ways of building their future for their families because they are burned out and stressed out from their job. People are wanting to be more independent and if they find the right home based business, then they can find all of that and so much more.
Many people dream of working from home and the funny thing is that most of those people think that working from home is the best thing that can happen. People are looking for ways to spend more time with their families, especially if they have children. They do not want to have to deal with the stress of working for someone else or have to deal with the burn out after working for 40 years for that company.
Some home businesses are better than others. If you break down the home based businesses by the type of business, for example if you belong to a MLM the success rate is actually only 5%. But regardless of how many people succeed there are larger and larger numbers of people who join a home based business each year, and more and more are joining internet home based businesses.
Subscribe to:
Posts (Atom)