Archive for money

Factoring: The Surest Way to Keep A Small Business Vital and Competitive

Many people believe that professional bill collecting services are only necessary in white collar business arenas. This couldn’t be more wrong. It’s the small business owner who needs the assistance of a service that will help ensure a positive cash flow. A factoring service helps small business owners who cannot necessarily pay for complicated billing systems, to securely collect on their received invoices.

Are there any small businesses that are too small to benefit from a factoring service? The answer is “No!” If any small business owner can see the value in having immediate cash in-hand for services rendered and products delivered, over waiting months for payment, then factoring for SMBs is the way to go. Here is an interesting small business scenario to consider.

“John” is a highly trained guitarist who has decided to open an in-home guitar lesson studio. His hourly lesson rates are competitive, and his capital cost are extremely low. John also does everything he can to minimize living costs as he builds a clientele. After a bit of advertising and worth-of-mouth reputation-building, John builds a studio of 20 students.

John has decided to take the ethical route in the realm of payment for the lessons he gives. Though he is a degreed professional, he chooses to not let things like lesson payments get in the way of his vision for a full time studio. Several months pass, but John notices that several students have not yet paid for the lessons they have taken. Even with written reminders and phone calls, some students are consistently 6-12 weeks late on payments.

Though John loves to live simply, he cannot afford to provide “credit” for the service he provides, nor discontinue providing lessons. His students and their families are good people, but they never seem to be on time with their payments to his studio. The question is, why should John’s business and quality of life be diminished, or put into a desperate situation simply because of the forgetfulness (or lack of ethics) of other people?

The same is true for any small business. Why should the bad, or irresponsible behavior of consumers result in a loss for a small business owner? The answer is, it shouldn’t, and it doesn’t have to. A factoring service makes sure business owners are compensated for their received invoices. With a small fee, services like those found at Factoringcompanies.com do the dirty work of billing and collecting payments from consumers and clients. Even with a lag in payment, a guitar studio owner like John can plan his life (and pay his bills) according to the services he provides, not on the reliability of people at large.

Factoring companies are an exceptional tool for small businesses because they provide cash advances according to the business’s receipts rather than a loan/payment situation. When a business is involved in a sector that regularly experiences a lag between the time services are rendered and the time in which clients pay, factoring companies help erase the lag. With a small fee (usually a single digit percentage of the collected billing amounts), a business can be compensated for their services immediately, and never have to deal with the hardship of convincing people to pay what they owe.

Factoring companies provide these services to small business owners. Great factoring companies extend these services to businesses no matter their size, or classification.

* Invoice-related factoring and billing.
* Payroll funding when operations are tight and unsure, but employees are still valued.
* Cash Advances on purchasing capital and equipment.
* Funding for building needed purchase orders.
* Rare and helpful unsecured business loans using ethical lending standards.
* Equal factoring services for industries from technology and manufacturing, to the self-employed.

Factoring is the surest way to keep a small business vital and competitive. A small administrative fee for factoring services is a valuable investment when it comes to running a smooth professional operation. Like John’s dream of having a good life doing what he loves, any small business owner can benefit from having a factoring company in their corner. Factoring services often play a significant role when it comes to small businesses growing to become industry leaders. Receipt “insurance” through factoring services can become business “assurance” in the long run.

Money Magnet Secrets That Will Keep Your Company In Full Bloom

a-business meeting

Brainstorming

Most companies are in business for the purpose of generating revenue. As such, it’s important for business owners to access and implement strategies that will help their companies attain absolutely amazing conversion rates. Luckily, there are numerous money-making strategies that your company can employ to realize this objective. Here are three of them:

1. Optimize Your Equipment.

Optimizing your company’s equipment is a simple and effective way to make your business a money magnet. This technique works because it ensures that you are using up to date equipment that helps you complete daily operations quickly and correctly. Using up to date equipment is also a great way to reduce your staff’s susceptibility to life-endangering on-the-job injuries. You can obtain new equipment like crane parts from online retailers such as ProservCrane Group.

2. Listen To Customer Feedback.

Another strategy you can utilize to ensure that your company becomes a money-making magnet is listening to customer feedback. The information customers include in questionnaires can provide you with key insights regarding changes and upgrades you need to make to the way your brand does business. Ignoring the information found in customer feedback documents can result in a lack of repeat business and a decline in your conversion rates. Be sure to maintain an attitude of responsiveness and receptivity when your customers make suggestions!

3. Pursue Thought Leadership.

One final strategy you can use to ensure that your company becomes a money-making magnet is the pursuit of thought leadership. Thought leadership is a term that refers to individuals who have attained a position of authority in their respective industries as a result of making substantive contributions to the field. In general, thought leadership results from publishing relevant data and/or giving lectures about important topics in the field.

Don’t Delay: Start Optimizing Conversion Today!

If you’re serious about keeping your business in full bloom this year, it’s time to recognize the role that an optimized bottom line can play in facilitating this process. There are numerous money-making strategies you can use to keep your company alive and thriving. Some of them include updating your company’s equipment, responding to the feedback of your customers, and pursuing thought leadership. By consistently implementing these three money-making strategies, you will likely find that your company performs exceedingly well this year!

How to Get the Car of Your Dreams

Chevrolet

Have you got a dream car? One that you’d give anything to own? Sadly, it isn’t going to appear in the driveway in the near future without a lot of work and commitment from you. But all it takes is a little planning and a lot of willpower on your part and you can start working towards the amazing day you get to take that beautiful machine home. Here’s how.

Get Your Finances in Order

First things first, you’re going to need to be able to pay for the car. If you don’t have many savings of your own, you still have a few options. One is to open a high-interest bank account and slowly but surely add to it while the account accumulates interest on itself. That, of course, relies on you essentially forgetting that your savings are there outside of any deposits you make. The other is to consider taking out a loan. There are plenty of places, like DreamLoans, that specialize in vehicle finance and will even look after those with bad credit histories. Do your homework, find out who offers the best services and the best interest rates, and don’t be afraid to negotiate – you may actually be able to haggle your way to a sweeter deal.

Research the Vehicle

It’s one thing to dream about owning a ‘67 Chevy Impala. It’s quite another to actually own one. You should know what the going rate for your dream vehicle is, especially if it’s second hand. You should also know how much its on-road costs are going to set you back and you should be well aware of how easy and affordable it is to get parts should anything wear out or break down. This is especially true of older vehicles; as cars get older, parts begin to break down and disappear, which means the ones that still exist become more expensive the rarer they get. You should know if the car has any design quirks or safety concerns that are out of the ordinary. You should know it all – right down to what its fuel consumption is like. With all the details on hand, you might discover your dream car is not quite as heavenly as you first thought.

Discipline Is Key

Both of the above points come back to discipline and exercising a lot of willpower. If you’re going to save up for the car yourself, you’ll need to stop yourself from spending any of your funds on things you don’t need. If you plan to go through finance, you need to commit to paying the amount back on time. And if you do get the car of your dreams, you have to commit to owning and maintaining that car.

These are the three biggest things to remember when thinking about how to get the car of your dreams. It’s as much about being a crafty consumer as it is about being an automotive dreamer. If you have the willpower, the drive and the right approach to your personal finances, you’ll be behind the wheel of your dream machine in no time at all. What’s your dream car?

A Second Opinion

During the life of a business or an individual, there can be difficulties that can occur. There can be a problem with an employee, or there can be an issue with finances that can be the result of an insider or an outsider. Whatever the case is, it can help to bring in a second opinion that can prove to be extremely beneficial in terms of what to do.

A Fresh Look
When going through challenges, it can be difficult for people to keep things in perspective. There is a tendency in many people to focus on the problem so closely that other important items and projects do not get accomplished. Resources and revenue that would normally go out to attract new customers and provide quality services may be diverted to address a problem. A second opinion, which can be a consultant or a team of individuals, can provide people with a fresh look that is needed.

Receiving Guidance
After a fresh look has occurred, guidance and direction can be provided in what to do. An individual can make recommendations within a company as how to proceed. In some cases, a consultant can serve as a financial expert witness in case if a situation goes to court.

As a result of being from an outside business, an individual or team can give honest feedback that can be quite helpful. Some feedback may be difficult to hear. However, people and businesses can make better decisions in the future.