Month: June 2018

Small Business Management – De-Motivated Employees Are Bad For Business

People leave their employment for a number of different reasons and it cannot always be prevented, but if high staff turn-over is due to unhappy employees jumping ship, then it is perhaps worth considering what can be done to change the situation. A successful business knows how to keep its best staff on board long term. Contented, motivated workers are productive workers and they tend not to leave on mass from a work place in which they are happy, so when a mass exodus of your workforce does occur, it is a sure sign that you are doing something wrong.

The reasons unhappy employees usually give for leaving tend to boil down to too much of the bad stuff and/or not enough of the good stuff:

Being Underpaid.

Keep salaries competitive; if someone else will pay one of your valuable employees more to work for them, what incentive for loyalty does that employee have? Pay fairly and if you do value an employee reflect this in their salary. Also, keep wages confidential, not all staff are worth the same and allowing them to know this will create a very discontented workforce.

Being Over-worked.

Respecting that employees have lives outside of the work place will go a long way to keeping them happy; paid holiday time, compassionate leave and sick days should of course be standard, but remember also that enforced overtime or expecting weekend or bank holiday working will cause staff to feel put-upon pretty quickly; you cannot compel employees to become invested in the business, this has to come naturally if at all. Most employees will not unreasonably expect to work only the hours that they are contracted to.

Being Under-valued.

Value your workforce not just with good wages and reasonable working hours, but also with trust; micro-managing staff will cause them to feel uncomfortable and is certain to produce far from their best work. Showing your employees just how important they are to the success of the venture is more likely to ensure that they commit to your business and stick around, as well as going that extra bit further to produce results.

Going Nowhere.

Dead-end jobs often produce dead-end employees, or good ones that seek to move on to greener pastures as quickly as possible. Always promote from within as it encourages employees to see a future with your company; if they feel that they are likely to advance within your firm, it also makes them strive for better results in order to be noticed.

Job Insecurity.

Particularly in today’s worrying economic climate job security is a pretty big issue with most people; of course it is impossible to offer complete job security to anyone, but reassuring your staff that they are a priority and keeping them in the loop as much as possible helps people to feel that their jobs are as secure as they can be.

Keeping staff happy and motivated is simply about treating employees as you’d want to be treated yourself in their place and keeping them contented is the best way to keep them on board for a stable work environment.


Should I Contact Banks For Debt Settlement?

If you are one of the many individuals trying to cope with debt, you may want to consider debt consolidation. In recent years, there have been several of these services that have surfaced. While some of these companies are legitimate, many may not be. For this reason, some may advise that the consumer avoid settlement companies. The idea is that the individual contact the bank in an effort to settle. However, this may not always be the best avenue.

Often times, the bank will work with the individual but they may not be as flexible in terms. More times than not, the original lender will only accept the discounted amount owed if the individual can pay in a fairly quickly manner. They may only allow for short payment installments, sometimes between one and three. This does save the consumer, but many in this situation do not have the means to produce this type of cash flow. It’s not as convenient as some would believe.
In addition, some services may not only reduce interest but eliminate it entirely while the consumer is paying back the amount owed. The majority of banks will not offer this option to most individuals. You may actually be saving even more by hiring a service to negotiate on your behalf.

Debt settlement services can be a legitimate way to get finances in check. A qualified specialist works with the individual to create a repayment plan that will suit their budget. The length of time it may take to pay off balances may depend on the amount of owed and how much can be paid monthly.

Avoid being scammed. Check the companies credentials and see if they are listed with the better business bureau. You should also be able to access a “live” person to answer any questions or concerns. It is never a good idea to pay for services before you receive them. Finding a legitimate service is often all that it takes to get finances back in order.

By the way, by researching and comparing the best debt settlement services [] in the market, you will be able to determine the one that meet your specific financial situation. Nonetheless, it is advisable going with a trusted and reputable debt counselor before making any decision, this way you will save time through specialized advise coming from a seasoned debt advisor and money by getting better results in a shorter span of time.


A Different Solution for Business Inventory Financing

We feel sorry for you. Your firm is not in the service industry. They are the lucky ones with respect to inventory financing – there is no inventory! Unlike your business, which produces goods and carries inventory to meet customer order needs your services firms have no storage requirements!

If your firm has an investment in inventory then financing for that asset is often, if not always, vital. Financing via bank credit lines for the inventory component of your balance sheet is always difficult, if not in some cases impossible. Most business owners and financial managers know that of your two major current assets ( receivables and inventory ) that banks prefer receivable, aka a/r financing.

So how do you finance your inventory, and what are the requirements to get such a facility in place? The reality is that every business is different and your firm will have different categories of inventory – most commonly they are raw materials, work in progress, and finished goods.

Inventory financing in Canada is most often financed under an ABL facility. What is ABL is the next question our clients always ask. The acronym stands for asset based lending, and is a specialized type of financing that is mostly carried out by non bank institutions. Facility sizes tend to range from 250k and up, as it is not really economical for all parties (you and the lender) for finance amounts much under that.

Your ability to control, report, and purchase inventory most economically are key drivers in an inventory financing decision made by your inventory financier. Your ability to monitor, stock, and produce and bill and collect are the basic requirements for an inventory financing facility. We would point out that in many cases this facility also includes a receivable component, because, as we all known, inventory flows into a receivable which flows into… dare we say it… cash!

If you are unable to finance your inventory properly you can very easily get into what can best be describe as a ‘ cash trap ‘- and that’s not a good trap to be in. Typically each one thousand dollars of inventory on hand can cost you between 150 and 250 dollars per year when you take into account some obvious and not so obvious factors such as financing costs, storage, handling, insurance, and deterioration of the inventory which by its necessity forces you to do an asset write down.

The irony is of course that you can have too much inventory or too little, it’s a balance act.

When you arrange inventory financing you want to ensure you have reasonable levels of product – so you need to focus on both financing cost and order costs.

If you have inventory financing fast efficient turns are potentially more possible and you annual carrying costs can be dramatically reduced- don’t forget that the cash you invest in inventory could be put to work elsewhere and in many cases earn, for example, at least 12% more in profits. That’s a very typical number for a manufacturer.

Financing inventory is a challenge – you want to be able to take advantage of volume discounts, but at the same time limit your investment in inventory while satisfying customer order needs. Whew! That’s a real teeter totter don’t you think?!

Speak to a trusted, credible and experienced business financing advisor who can guide you through inventory financing in a manner that supports your business and industry. Beating the inventory financing challenge is a solid financial accomplishment.


7 Guaranteed Steps For Business Success

Whatever business you are in, if you are going through tough times as many businesses are at the moment, then this article will be of value to you. Whether you are selling a product or service, the first thing you got to do is get excited again. Look, whether you go out on the road meeting your clients or you sell over the phone, etc, you need to really elevate your level of excitement. Look, people are totally snowed under with negativity from the press, and generally in these economic times, from every angle possible.

They are used to sales people and their friends talking negatively. Here is where you can have an edge with your business. Approach everyone you meet with massive positivity. Ok, you are going to be asked where the positivity is coming from and you merely answer that you are massively grateful for all the things you have in your life. You are massively proud of your family, for example, your children, your business, etc. People will be naturally curious and I promise you that your positivity will rub off.

People want to be around positive people who have a can do attitude. By you selling yourself in this way, you are already making a statement that you are going to be a reputable positive person in this person’s life whether they give you business or not. Attitude for me is the most important word in the English dictionary. Your attitude will determine how other people react to you. If you have a negative attitude with a prospective client, he will react negatively and depending on how long the conversation lasts for, you will actually will have made him feel that there is no work out there. Talk about a bad plan!. Your job as a business hunter is to fill your prospects up with positivity, you will get it returned and if you do the numbers, it will not be long before sales start coming in regularly.

The second point ties in with the first point in that you must feel good about yourself. A great way to change how you feel about yourself is to repeat affirmations every morning. Continuously tell yourself that you are smart, creative, a brilliant sales person etc. Our job here is to make you bullet proof. Remove the words, I should, I can’t, I will try, etc. All these phrases convey doubt and fear. Remove them and start repeating those positive affirmations daily. People want to do business with positive, confident people who know where they are going in life. Turn up to your customers in your best attire, drive an expensive car. You are an excellent human being and you deserve every bit of success you get. Let your customers see this. Immediately their sub-conscious will feel an element of class and value about you. As if to say, “This person certainly is successful so I don’t think I would be making a mistake by doing business with him”. You are the man my friend and ultimately they will agree with you and give you their business.

Thirdly you need to stand for something. The best sales people in business have immense influence over their customers. They stand for quality, integrity, honesty but they will never let themselves be undermined by a customer. When this happens, a truly successful business person will drop the client immediately. You have core values my friend and because of those values, you have attracted outstanding clients. Never let your standards drop both in how you treat your customers and how your customers treat you. If you do this, all that will end up happening is that you will start firefighting because you left the path of true success. Never give a sucker an even break. People want to do business with professionals. Always maintain your professionalism.

Another vital point in being successful in business at the moment is being committed. How committed to your business?. If you have a what if attitude, you might as well stop now because any doubt you have on whether you can build this business will be found out in these uncertain times. You will let it leak when you are having a conversation with a prospect for example and the moment when you express that you may not be in this for the long haul, your prospect will lose interest. Straight away you have lost certainty. You must commit and this must be done at the outset. If one is not truly committed, they will quit when the going gets tough. Winning in business in terms of commitment is very similar to having a successful marriage. You must commit 100% and when you do, you will be rewarded with extra courage when the going gets tough. There is so much power in your words. Never talk about lack or being non committed.

Another great point for selling especially when you are face to face with a prospect is to treat him as if he is the most important person in the world. Look, everybody now especially as we have this global crisis are only interested in themselves. They have their own problems and as far as they are concerned, everybody else’s problems are their problems. Let You be the change away from the norm here. When you are with a prospect, never talk about yourself. Only ask questions about the welfare of your prospect and his family. Expert sales people here use the peel the onion technique. What you do is question every answer your prospect comes back with. Eventually he will lead you if he permits to the real problems and dilemmas in his life and business.

If you can always be encouraging and even often solutions to him at that point, you have made a friend for life. I say this, because most people in society don´t open up to each other. When you open up to someone, you feel as if you have given them something of yourself and then if they want to help you, even better!. This method is really powerful in sales and its scientifically proven that there is an element of control involved when this peel the onion method works. So treat all your prospects as if they were the most important person in the world. Get to their pain. Find out exactly how they could do their job better and provide the solutions but you need to really listen here. You will be laughing all the way to the bank with new sales. Become the problem solver.

Another key is priorities. Although this is a business article, i think you should put business in its rightful place. For me, God comes first, my Family comes second and business comes third. I do not see the value in being successful in business without a good spiritual and family life. Business becomes easier when you strive to have a great relationship with your partner, when you strive to have great kids, etc. Its all about being committed, and the more committed you are in every area of your life, the more success you will have and the more fulfilled you will be.

Ultimately in my opinion, i have left the most important point until the end. For me its all about desire and will to win. You see, all types can have success irrespective of race, gender, qualifications, etc but when you cut these people open, you will find a common theme, you´ll find the heart of a champion. These people are comfortable with failure. Thomas Edison before he invented the Light Bulb failed 10000 times. If you asked him, he would say that those attempts were the attempts needed to produce the night bulb. He would never call them failures, they were simple work in progress. You must have mental toughness, you must be able to get through the tough times. You need to be more positive that your competition, more committed, hungrier for business, must work harder. You must invest in yourself and your business more than your competition. I’m talking about 100% commitment which is being a leader in your field. If I arrived at your business tomorrow, I would know within an hour whether a Leader is running this business or a person who has a what if attitude.

Forget about almost, what if, should, can’t, try, all these negative words. If you are looking to build something that you want to pass onto your kids, if you want to build something that you can be proud of, well then do it right. Be 110% committed. There is no other way. The only place success comes before work is in the dictionary. I hope you got value from this article and I sincerely wish that you follow your dream and become a massive success with your business. Remember, True Leaders never make excuses. All they make is money and build legacies because they have tunnel vision for their businesses. Your behavior ultimately will determine your success, not what you say. Leaders get it done, failure always have excuses. God Bless.!


Best Strategies For Business Growth and Merchant Funding

zIf you’re looking to encourage the growth of your restaurant business, then there are a number of strategies that can help you skyrocket your profits – but none are as effective as getting the capital you need through merchant funding. It’s amazing at the significant difference that can be done with $10,000, $50,000 or even a $100,000.

The problem is getting the restaurant funding in the first place!

Despite reports that lenders are starting to pump loans back into the economy, owners of small businesses like restaurants and cafes have yet to see these hopeful signs of economic growth. Given that lenders and banks are still withholding merchant funding, what methods remain as the best strategies for business growth?

Strategy One: Go into business with another restaurant with a similar culinary theme as your own. Going into business with a partner can significantly reduce your operating costs while effectively expanding your name and reputation. However, it can be a challenge to enter into business with another partner, so this might not be the best option for those with a unique vision or business plan.

Strategy Two: For those who have time on their plate, waiting just a couple of years to apply for a bank loan can make a difference. However, many restaurant owners don’t have the luxury of extra time, and might need immediate restaurant funding in order to produce profits that will have them sailing consistently into the black.

Strategy Three: Get a merchant cash advance! For those restaurant owners who might not otherwise qualify for traditional loans (and these days, who does?), a merchant cash advance can provide the restaurant funding needed to expand, renovate or buy equipment. Instead of paying a fixed monthly amount, repayment is based on monthly credit card sales, so you’ll never feel the strain of making a payment that exceeds your month’s profits. Merchant cash advance providers also have flexible lending criteria: all you need is up to a year of credit card sales receipts and proof that your business isn’t bankrupt or in arrears.


Why Pursue a Degree in the Banking and Business Concentration?

There are four good reasons why you are pursuing the banking and finance concentration at a university that you should state in your essay when applying for the scholarship offered by a university. Firstly, you should state that the university is the right university to study majoring in banking and finance seeing from the important positions, jobs or business the graduates the university has produced hold, most of their graduates hold important places in many countries who are considered to be successful leaders in the countries and who ignites the country’s future leaders.

Secondly, you are expected to acknowledge, based the information you have got, the university stands for access to an internationally recognized education which is possible and accessible to students studying in your own country, the teaching philosophy is centered upon inquiry, exploration, innovation and communication, and it provides students with an opportunity to learn from some of the best academic minds in the country and the world. You could also mention that the university is the only university that offers an internationally recognized curriculum that allows students to earn a globally recognized degree from over most world universities.

Thirdly, when you get a degree in banking and finance from the university there will be a lot of opportunity and benefits to work in the field. When you graduate from the concentration, there will be great opportunities for you to choose as your future career. You can work as a banker, finance analyst, stockbroker, security sales representative, financial analyst, investment banker, commercial banker or fund manager or entrepreneur, etc, to name but a few. You will be able to easily get work in these two very important sectors in the economy of a country like yours. There are many opportunities you can get when you are employed in any of the two sectors, they are everywhere in very country so that is why you are very interested in working in the field.

Fourthly, the banking and finance career is really challenging, it is challenging because you can have the opportunity to develop your career continually. When you work at in any established bank and business both local and international such as American Bank, City Bank, World bank, etc there will always be continual development career training to follow in order to develop yourself to be qualified in the field for obtaining a professional qualification.

Lastly, you are pursuing the degree in banking and finance is because the salary and benefits you would deserve are better than when working in other fields or sectors. Besides, when you become entrepreneurs, you would be able to help create jobs for other people to develop the economy of the country where you live.

Burning Bridges Creates Obstacles to Smooth Traveling for Business Startups

Before you give up your career and order those cards for your spanking brand-new business startup, think twice.

The fact is financial success in a new business startup may take a while. If you can transition, rather than jumping without a parachute, your bank account will thank you.

First, let’s go over the major “career paths’ you can choose to earn a living. They are:

1. Employee

2. Self-Employed

3. Business Owner

As an Employee, you are hired to perform a specific role in a company. Many jobs allow you to leave your work at work, and spend your free time with your family, without worry. You also may receive great benefits, like healthcare, retirement plans, and most importantly, paid vacation.

If you are considering stepping out of the role of Employee, you need to make sure that your dissatisfaction with your job is not job-related. What I mean by that is, just because you hate your job, it doesn’t guarantee that you hate all jobs. There are many opportunities with flex-time and relaxed work environments, where you can enjoy some of the freedom of self-employment, without the added responsibility.

If you can, it’s best to start your business while you still have your job. You can work evenings and weekends while your business gets started, and ditch the job only after your business income is greater than your salary.

So, how can you possibly make as much money part-time as you can working as an employee full time for someone else?

It’s actually fairly simple. Skip option two (Self-Employment) and move right into option three—Business Ownership.

The reason most people have to work so hard in their business is because they are Self-Employed. They are the ones producing the product or service in their business. The problem with this is that they are limited to how much time they can personally put into their business.

If your business does not operate without you doing the work, it’s very difficult to transition out of the role of Employee. And if you do, you will probably find that you work much harder when you are Self-Employed than you ever did as an employee. Not only are you doing the production work, you are also in charge of administration, marketing, finances, and even making sure there is coffee for the coffeepot.

Consider starting a business that does not rely on you to perform the work. You could sell a product by mail order, and outsource fulfillment services. Or start a service business like cleaning or lawn care, where you hire staff to perform the work.

Granted, you should ideally have a work environment that allows you to take care of your business occasionally during work hours. You could also work with a partner, so you can share the responsibility, and cover for each other when necessary.

You could also create an internet business, and automate many of your activities with technology.

Be creative. Rather than dumping your stable income, figure out a way to “test the waters” before committing full time.

In addition to keeping a steady paycheck, you also benefit by being forced to systematize your business from Day One.

One of the biggest challenges startup business owners have is transitioning out of “doing everything”. They limit their business to only being able to perform what they can get done, and end up exhausted and frustrated.

If you transition, you’ll be forced to put systems in place that allow your startup business to work without you. Your role can be limited to guiding and directing you business, which is the true role of the business owner.


Is Your Phone The Best Smartphone For Business Security?

Why Apple Makes The Most Secure Smartphones To Protect Your Business

Like most people, you’re probably overly busy and overly interconnected online. It’s been said many times over that it’s a busy, busy world. If you’ve been shopping around for a new phone, or recently purchased one, you know how much you rely on it. You’ve invested a ton of time finding the best smartphone for business needs; you’ve spent some large amounts of money on the phone and data plan.

So do you know how vulnerable it may be?

With the recent release of HBO’s documentary ‘citizenfour’, truth is, all our data that’s online is susceptible to being hacked or found out in some way. So whether you are looking for the best smartphone for business or personal use, you need to know that it is vulnerable to being hacked in one way or another.

Look, technology is an awesome resource for all of us. It keeps us connected to each other and the world around us. But in George Orwell’s prescient novel, “1984”, he warns the reader of an age that is always interconnected and constantly monitored.

Truthfully, we live in an age that was once only considered the realm of fiction not too long ago. But with anything in our connected world, the more mobile we allow our personal information to become, the greater the security risk.

Whether it’s the best smartphone on the market, a new laptop or even your TV, there are a number of risks that can expose us all.

You need to be aware of the potential risks and understand what information is vulnerable.

So before you purchase a phone or use it in any way, you need to understand that it may be at risk. Once you understand that, next you need to decide what is the most acceptable information you’re willing to expose to a potential hacker, to other corporations and governments before you can finally enjoy your device.

Like A Leak In The Dam, Don’t Just Poke More Fingers Into The Holes

For every malware and Trojan horse, they develop different security patches and types of code to protect and encrypt our most sensitive data. With modern technology, we’ve placed a wealth of information and personal data online. Often we have access to birth dates and Social Security numbers linked with banking account info all on our phones. Sensitive information that we have to protect and so we buy software that helps keep that information safe.

So What Type Of Smartphone Is The Best? We Believe It’s Made By Apple, Here’s Why…

When you’re shopping for a new phone, especially one that you need for storing sensitive personal or private information, look for one with a proven track record of being secure. In other words, look for a phone company that has a history of keeping data secure.

With that in mind, we believe that Apple is arguably the most secure of all devices and best smartphone for business.


For starters, it comes with a suite of the best productivity apps for their iPhone brand. These Apps come installed on any new iPhone and include their outstanding Apps such as Pages for documents, Numbers for spreadsheets, and Keynote for presentations among others. These are all built and developed by Apple, and you can use just these productivity apps safely and securely for all your business needs if you so choose.

And part of the strength that Apple has over their competitors is that they build these devices in a vertical manner. That means they control all aspects of their iPhones, from hardware to software development, and this allows Apple to control accessibility to their devices. Their only weakness is that they do allow third-party access to their App marketplace.

This accessibility is different then all Android and Windows phones that are heavy on third-party integration for their Apps. Whereas the Android and Windows strategy allows for a wider selection of Apps to choose for your phone. But by the sheer number of developers with access, it also means more vulnerability to hacking.

If you plan on storing any sensitive information, from personal or corporate, choosing the best smartphone for business should also weigh the importance of keeping that data secure. The trick is to find ways to protect what matters most. Whether it’s personal information or corporate plans, finding the best smartphone for business is only one part of a larger challenge. In other words, we buy these amazing devices and tools to help us, and we should have faith that the information we store on them is secure.

For that purpose, its pretty obvious that the vertical integration that defines the way Apple produces their iPhones makes them the most secure.

Knowing What Is At Risk Helps You Understand The Importance Of Online Security

The recent HBO documentary “citizenfour” that centered on the data breaches as detailed by Edward Snowden show how much our online presence is more open and available then we may have thought. Recently we saw this in real-time as there was a huge breach in celebrity phones having their pictures released online.

So unless you’re a Luddite planning on using only handwritten letters, notes and spreadsheets for your business, finding security for that information is important. So when you’re researching what is the best smartphone for business, keep in mind that once you post information online, it’s vulnerable.

It isn’t as if we’re under constant surveillance; that at any giving moment there’s to be a knock at the door, and you’re under arrest by Orwell’s “thought police”. The threat is more about sensitive information being released and shared with others that you may not want having access.

Be aware of the risks, and you should be able to find the right phone for your specific needs. By knowing that a vertically integrated company such as Apple can limit the amount of access to their software, making their phones more secure, it’s pretty obvious what is the best smartphone for your business.


Top 2 Reasons For Business Loan Denials

For the previous five years, there has been an increase in commercial financing sources in the US. Specifically, there has been a proliferation in the alternative lending market that fills the need of business owners that do not have the credit (personal or business) or operating capacity to gain approval for traditional bank financing. Although helpful for the short-term, many of these alternative lending sources “trap” business owners into loan structures with high payoffs and abnormally high interest rates. These two factors often cause the firm more harm than anticipated by restricting and sometimes significantly decreasing free cash flow. Traditional bank financing is still the best option for business owners due to the low-cost of the money and the flexibility for mitigating issues with repayment and payoff. In this article, we will focus on the Top 2 Reasons for Business Loan Denials in order to equip business owners with the information to produce and present business loan proposals that are concise, relevant, and factual.

(1) Unresolved Personal and Business Credit Profile (High Credit Risk)

Most business owners and individuals do not have a solid understanding of their credit profiles. Although banks have become more proprietary in their credit risk rating systems, the foundation still remains the credit report for both consumers and businesses. It’s not only enough to know your credit profile, but you must also have valid explanations for any issues reported. Ideally, you want to resolve as much as possible these issues before submitting your business loan proposal.

Your personal and business credit profile also presents a pattern of repayment for the lender and represents a key component of approving the business loan. If the credit reports show a pattern of non repayment or not paying as agreed mostly, then the chances of a business loan denial are fairly high. One way to improve your repayment pattern is to either close unused or unnecessary credit lines or decrease existing credit amounts like credit cards or open lines of credit where applicable.

(2) No Business Plan Equals No Proof (High Management Risk)

Lenders like to see that business owners are organized and focused in their business, and a great way to disclose this is to present a solid business plan. This plan should highlight in the Executive Summary your business goals especially those that include the proposed loan. Many times loan proposals consist of a phone call or brief conversation with the lender with nothing in writing. Always provide the lender with a brief write-up either disclosing the loan opportunity or a business plan that includes an explanation of how the loan proceeds are utilized and repaid.

Also, describe the opportunity to obtain financing as a means to an end. In the past, I’ve experienced how entrepreneurs only offered plans disclosing how and why the financing was needed without going into much disclosure of anything else. In order to improve your chances of receiving approval, give the banker a full picture of the financing’s impact for both the short and long-term. is an online platform that specializes in providing expert level advice and guidance to the micro entrepreneur in the areas of accounting / finance, operations, management, sales and marketing, human resources, and lending in order to help grow your business and maximize your cash flow.