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Business Finance

3 Keys to Better Business Finances Now and for the Future

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Making sure your small business is able to stand on its own two feet for many years can seem like a daunting task. Despite your efforts, the success or failure…

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Making sure your small business is able to stand on its own two feet for many years can seem like a daunting task.

Despite your efforts, the success or failure of your venture will more times than not center on money.

So, how confident are you that you are doing all you can to properly finance your business now and for the future?

Is it Time for a Financial Lift?

In doing what it takes to avoid financial roadblocks for your small business, here are three keys to look at:

  1. Ask for a helping hand – While you are prideful of your business, there is nothing wrong with asking for help. The help you get can be exactly what you need and at exactly the right time. So, one such option to think about would be small business lending. In acquiring the right lending option such as a line of credit or other form of loan, you can use the funding you get for a variety of needs or focus in on one central one. Take the time to find the right provider. Once you have and the loan is in your hands, put it to work for your business.
  2. Watch what you spend – Another key to keeping finances in order is watch what you spend and how often you spend it? Yes, you will need supplies for one thing to keep your small business going. You also have to look at things such as office rent if you do not own the property. If you have employees under you, you’ve got salaries to maintain. There also may be health insurance involved depending on the size of your small business. Last, you have taxes to deal with (see more below). No matter what you are spending money on for your business, keep a close eye on things. Spending is one thing. Spending out of control is an entirely different thing. Look for deals whenever you can land them. Also, keep a running count of the amount you spend each month on different items for your business.
  3. Claim tax deductions – It is also key that you claim any business tax deductions you are eligible for. Failure to do so is like throwing money out the window. If you do your own taxes, make sure you look over everything as clearly as possible. It may not be a bad idea to have someone else you trust and with a good eye to look them over too. The other individual may pick up on one or more things you might have missed or done incorrectly. In the event you turn to a tax professional, be sure you have one you can count on. You may have someone you’ve used for many years or are looking for someone new. Get all the deductions you have legally coming to you to increase your refund or pay down a tax bill.

In putting clear focus on finances now and down the road, you are doing one of the key things you can do as an owner.

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Business Finance

Are You Prepared to Buy a Business?

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If the day is approaching where you think you are ready to buy a business, are you excited? For many in such a position, the thought of owning a company…

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If the day is approaching where you think you are ready to buy a business, are you excited?

For many in such a position, the thought of owning a company is something they have looked forward to for a while now.

So, how you can best prepare yourself for this day?

Make Sure Everything is in Order

When you are looking at buying a business, make sure your finances are in order.

Among the questions to have answers for:

· Do you have the money to buy a business?

· Will you need loans or help from investors to pull it off?

· Is the business you are considering buying in good financial shape?

· Is there considerable debt with the business you are looking to buy?

By being able to answers those and other financial questions, you are less likely to get into trouble.

It is also important that you have a business that is ready to go from day one.

With that in mind, you may come to realize why buy a SaaS business is something to strongly consider.

Such a business allows you to be up and running with the right software. That is from the get-go and not having to worry about such an important facet in today’s business world.

The right software means you will not have to worry about meeting the needs of customers. It also means you are using tech today than make the difference in whether you are able to get and complete a sale.

Speaking of everything being in order when you go to take over a business, what about employees?

In buying a company from someone, will you keep the employees that the previous owner relied on to get the job done?

Some new business owners like to work with people they are familiar with. For others, they will give employees of the previous ownership an opportunity. That would be to prove themselves and make a seamless transition.

No matter which way you decide to go, be sure you have the right people in the right positions. At the end of the day, it can make the difference between happy customers and some deciding to move along.

How Will You Market Your New Business?

Once you have taken ownership of a business, it goes without saying that marketing it will be key.

With that in mind, how will you get the word out to the public about what it is you have to offer?

Among the best ways to go about this:

· Company website

· Company social media pages

· Business App

· Customer testimonials

· Being active in your local community

By doing those and other things, you stand a good chance of having your business resonate with folks.

If buying a company that has been around for a while now, it may already have a good following in the consumer arena. As such, you want to not only keep that reputation, but improve upon it over time.

In acquiring a business, make sure you are prepared for all that comes with it from day one.

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Business Finance

Do More to Invest in Your Company

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If it seems like you have not done enough to invest in your company, any particular reason behind this? With all you have to gain and lose for that matter,…

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If it seems like you have not done enough to invest in your company, any particular reason behind this?

With all you have to gain and lose for that matter, it is imperative you have your mind in the right place.

So, what are some ways to better invest in all you have worked for?

Investing in All You Have Worked for

When you want and need to invest more in your company, start by looking at your financial picture.

In the event things could be better, where best to begin?

For one, you could go on the Internet to learn more about getting a revolving line of credit.

Such a line can allow you to borrow the amount of funds you need for important things your company needs.

Among the things you may want to put the money towards would include:

· Office equipment – Is it time to upgrade some of the equipment in your office? If so, having those funds available comes at the right time.

· Adding manpower – Are you short on manpower? Without enough help around your company, you could be missing out on business. Having funds at your disposal to bring on added help is key.

· Doing more promotions – Is your company doing enough to promote itself? If the answer is no, more funds can help you better spread the word.

· Expanding your operation – You may be at a point and time where you want to expand your operation. If so, those added funds can help you expand.

No matter how you opt to use the funds you get, know that you are investing in your business.

Using Technology to Help You

Another way you invest in your company is by using technology.

As tech continues to emerge, it is important you stay on top of things.

Many consumers in today’s world use a sizable amount of technology in their everyday lives. As a result, they expect businesses to do the same. If your business is lagging when it comes to technology, you may see a loss in business as a result.

Stay up on tech needs for your business through ways that include:

· Following industry tech blogs and more online. These can provide you with worthwhile info as it relates to technology in your line of work.

· Survey customers on what they want from you. Their responses can help lead you to add more technology or refine some of the tech you have now.

· Attend tech trade shows tied to your business during the year. Make it a point to attend trade shows in your industry when you can. These can prove quite valuable to you in picking up tips.

No matter how you use technology in your line of work, know that it can be quite beneficial to you.

Planning for the Future

Last, are you thinking at all about the future and how it relates to your business?

By having one eye down the road, you can be better prepared.

Knowing when and how to invest in your company will give you the chance to not fall behind others. It also allows you to have a plan in motion for growing your company.

In investing more in your company, always think about how you can grow and stay relevant.

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Business Finance

3 Tips for a More Successful Small Business

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No matter the amount of time you’ve had your small business, it is important to do all you can to make it successful. That being the case; have you been…

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No matter the amount of time you’ve had your small business, it is important to do all you can to make it successful.

That being the case; have you been taking all the necessary steps to be successful and stay there? If not, you could be putting your business and your own financial well-being in danger.

So, is it time you had a more successful small business in your hands?

Always Know Your Money Situation

As you look at ways to make your small business more successful, keep these tips in mind:

1. Your money – Making sure your business is healthy is something you always need to focus on. That said there may be times where your business is in the red. Even if only for a short period of time, it should be of concern to you. With this in mind, do all you can to keep your finances in order. You may be at a point now where you need a little financial infusion. One way to go about this would be applying for a small business line of credit. If you gain approval for such a line of credit, it can help you in some different ways. From new equipment or expanding your office space to hiring more help, having that line of credit is a plus. Speaking of your money, are you in over your head with debt? If so, do all you can to lower it. The most common form of such debt is credit card issues. Remember, the interest fees alone when not paying off your monthly balance can hurt you. Do all you can to stay in the black with your finances and avoid prolonged visits to the red.

2. Your message – It is important that you have a clear and winning message as it pertains to your business. That said is your message resonating with enough consumers? If the answer is no, it can mean you fall further behind competitors. It makes sense to review your marketing messages on occasion. You may need to tweak it here and there. For some, it can mean a complete overhaul to a different message. As part of getting your message out there, know your targeted audience in the first place. Doing things blindly is not a smart way to go about it. By doing some surveys and getting feedback, you have a better notion of who it is you want to market to in the first place.

3. Your reach – Last, how you go about reaching out to customers are quite important too. That said are you doing enough online and offline to reel in more business? What about the business you have now? Do you do enough to keep people coming back? Always make it a priority to reach out to consumers on a regular basis. From social media to face-to-face encounters, let consumers know you care about them.

As you look for ways to make your small business more successful, many of them boil down to commonsense.

So, how successful can you be when it comes to running your small business?

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Business Finance

Typical Qualifications for Business Loan Approval

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Whether you are preparing for an expansion, need new equipment, or are looking to do additional market research, taking out a business loan is always an excellent option to finance…

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Whether you are preparing for an expansion, need new equipment, or are looking to do additional market research, taking out a business loan is always an excellent option to finance important business decisions. If you are looking to take out a business loan for the first time, the process may seem intimidating. You might want to conduct some research to understand whether you will be approved. Doing your homework will save you precious time and headache when applying for your loan. Listed below are a couple of important factors that your lender will evaluate before deciding whether to extend an offer.

Age of your business

This may seem obvious, but businesses that have been around for a few years usually have their situations under control. There is less risk involved in such a business. It’s no surprise, then, that most lenders require businesses to be in operation for longer than a year before they’ll agree to lend them money. A small business loan is much easier to get the longer you’ve been in business. While this might sound unfair for startup ventures, who need funding more than anyone, it’s a practical and responsible business decision on the part of lenders to minimize risk, and few things are riskier than a newly opened business with no track record.

Credit score

This is one of the biggest factors in applying for any loan. In the case of business loans, you are actually likely to be evaluated on both your business credit and your own personal credit. Most lenders require a score of 650 for an owner’s personal credit score before issuing out a loan. If your business has been established, prepare a credit report and be prepared to show your financial records. Also, ironically, sometimes a business having too much credit can be viewed in a negative light. The lenders may view that you have run out of money and are now relying on credit to cover yourself.

Your intent for the funds

Banks want to know how you plan to spend their money. In some industries, it may be difficult or complicated to explain to a loan officer the importance of certain business expenses. Before you go in for a meeting, you can put together a small presentation to show the exact value of the business loan and how it will allow you the opportunity to pay it back quickly. This will show initiative and understanding of the financial market. Anyone who looks like they know what they are doing will have an added bonus in the eyes of the finance officer.

Your financials

Lenders will often examine all aspects of your business to be sure that they will recover their investment. They will usually have an annual revenue requirement that can range from $50,000 to several million. They will also look at your net operating income. This may vary from lender to lender, but some require a total operating income that is at least 1.25x greater than your net expenses. As previously mentioned, your debt-to-credit ratio will also be under review. Too much of a swing in either direction could be viewed negatively.

Collateral

As with any loan, the ability to offer collateral may help sway a loan officer. Collateral can include some of your equipment, your inventory, and your real estate. If you do not choose to use collateral, you may need to explore other loan options for your business.

The reasons for getting a business loan are plentiful. The qualifications for getting approved for one, however, are more limited. Fortunately for companies within the wheelhouse of business lenders, getting approved is a simple matter of putting the pieces together and sending them off.

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Business Finance

Top ways to create a powerful investment portfolio

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If you are thinking of investing some of your spare money, then you would not be alone. The 60 major global stock markets are worth a staggering $69tn between them….

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If you are thinking of investing some of your spare money, then you would not be alone. The 60 major global stock markets are worth a staggering $69tn between them. They see a high volume of trade each day from people investing their money into shares. When you factor in the other major financial markets that are open to trade on, such as the foreign exchange market, it is clear that investing is something that a lot of people do now.

Before you jump in though, you need to know the key factors that will help you succeed. Chief among these is how to build a powerful investment portfolio that is structured to handle what the markets may throw at it.

How to build a powerful investment portfolio

If you need a few tips on building a robust portfolio, then the below advice should help:

  • Set clear goals – whatever individual assets you have in your portfolio, you need to have clear objectives around them. You should always know how you expect each investment to perform, what the risks are, and when it is time to get out. This will protect your portfolio over time and make it easier to track if everything is working as planned.
  • Do not overpay – price is one key thing to understand when building up a strong portfolio. One thing to really think about is the price at which you buy any stocks or shares. If you overpay, then even a well-performing stock will not provide the returns that it should. Always try to buy stocks that give value as well as future returns.
  • Diversify – a great tip from the investment professionals is that you should always have a mixture of assets in different sectors. This protects your whole portfolio and makes it more powerful to stand up to any one investment tanking. You are in effect not making the mistake of putting all your eggs in one basket.
  • Choose your sectors wisely – when thinking of what individual assets or stocks to put into your diverse portfolio, you should do your research. This should not only be into the individual company that you may invest in but also what overall sectors are doing well or about to explode. Technology, for example, is a hot sector now, and this kind of thinking will help you build a strong portfolio.

Keeping up with news is essential

The real power behind a successful portfolio is having access to the latest news and figures. This will help you take action if needed on your investments and always be up to date with what is happening in the markets. Most investors will do this on a daily basis but also with a more long-term weekly approach for the week coming. For everything you need to know about stocks this week, the internet has all the latest stories to check out.

Make your portfolio truly powerful

Many people will trade but not all will trade successfully. Make sure that you do win out in the long term by building a powerful portfolio that is strong enough to ride any market fluctuations. By doing this, you are giving yourself the best chance of trading success overall.

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Business Finance Investing

How many trades do you really need to execute per month?

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Have you ever assessed your trading performance? Do you really know the number of trades executed by you per month? Most probably the answer is NO. Majority of the novice…

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Have you ever assessed your trading performance? Do you really know the number of trades executed by you per month? Most probably the answer is NO. Majority of the novice traders are biased with the profit factors of the market. They are always trying hard to maximize their profit factor to earn more money. On the contrary, the experienced traders never overtrade the market. They are more concern about their investment. Even if you find 3- 5 good trades per month, it’s enough to secure your whole month earning. You can easily lead your dream life by following this simple principle.

So how many trades do we need to lead our lives? If we say four trades per month is enough to bring change to your life what would you say. In reality, four quality trade execution is enough to establish your presence in the professional trading network. In this article, we will tell the exact way to make money by focusing on the quality trades.

As a currency trader, you need to eliminate the noise from your life. Majority of the traders are frustrated with their trading performance. They simply forget the basic rules of investment, quality matter over quantity. The professional traders don’t trade all day long to ensure a high standard of living. Neither have they had a super accurate trading strategy. They are simply using the probability theory and trading the market with high-risk reward ratio. Even if you trade with 1:2 risk reward ratio, you can easily make a profit with 60% win rate. But sadly the new traders close their profitable trades too early. But when it comes to losing trades, they make their loss much bigger than expected. They simply trade the market with hope and emotions. But emotions have no place in spread betting industry.

Advanced technique

You need to know the advanced use of spread betting platforms. Those who consider trading as their full-time profession knows the perfect way to use their trading tools. They don’t sit in front of their screen all day long to find the best trades. On the contrary, the novice traders seem to guard the market. But if they knew about the pending features of the market, they could have easily made a huge profit. In order to ensure decent curve of your equity curve, you must use the technology in a very precise way.

Let’s say you have executed 4 trades in a month. Out of 4 trade, two of them are losers. You followed 1:2 risk reward ratio in each trade. For every loser, you lost 2% of your trading capital. So for the two losing trades, your account is down by 4%. But for every winner, your gain was 4%. So for the two winning trades, you secured 8% gain. So if we calculate the gross profit, you will still make 4% profit on that month even after losing two trades. This simple formula can help you to master the art of spread betting.

Trade management

Trade management skill is the most important thing you need to know as a currency trader. Those who are relatively new to the trading profession, don’t know the perfect way to manage their losing trades. They are always trying to recover their initial investment by increasing the risk size. On the contrary, the experienced traders don’t have any emotional attachment to the outcome of their trade. They know very well, their trading strategy works in the long run. You have to stick to your trading system to make consistent profit from this market. Being new to this industry doesn’t mean you will have to lose money like the 95% of the traders. If you can understand the language of the market and trade with managed risk, you are going to become a profitable trader within a very short period of time.

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