MLM online business is a tricky subject for a ton of prospective entrepreneurs. On one hand you must find a business that suites you, and on the other hand you must find a business that allows you to make a worthwhile income. This can be one of the more daunting tasks in the world of online business because, as we all know, the things you love to do are not necessarily the things that will make you the most money. In order to be successful in your MLM online business ventures you must remember that the key to flourishing financially is making intelligent decisions about the company you decide to work with. You simply must work with a product that is non-perishable, preferably one that will increase in value over time. The last thing you need is to devote thousands of hours to a business that is in direct competition with other similar type of business, only to see your company lose the battle because of poor management, a weak team, or an inferior product. The point I’m making: Choose your product very, very wisely, and listen to people who know the industry and have made money themselves.MLM online businesses are growing. like every other business worldwide. When you are considering joining an online business you must carefully analyze the team you will be working with. There are well-organized teams and there are not-so-well-organized teams, and discerning between the two is not as easy as you would think. Often times a company will put up a good front, showing pictures of high-power execs who have “made the transition” between working for a corporate giant and owning their own business online. These sorts of high-power faces can inspire confidence in the organization, but be sure to do your research! There are cases where these executives have been let go or laid off and have begun working in an online business as a means of scraping by or saving face. My point: Find a business with a good, reliable, self-sufficient team who is promoting a product that is in an upward trending market.MLM online business owners know that times are hard. Everyone in the business world, regardless of field, has felt the ripple effects of our World Economic Crisis. From San Diego to Beijing, from New York to Berlin, the story is one of dire conditions that require the utmost of intelligent investments and extremely cohesive teamwork in order to generate success. Your team should be tangible; it should be composed of people you can shake hands with or call for coffee; it should be a real, grounded, local, person-to-person network of like-minded individuals. Above all, it should have a leader who has been in the industry long enough to understand the various ways of generating success from a MLM online business. Fortunately, I know of a business that fits this bill.MLM online business owners, or folks in specific areas such as San Diego who are interested in owning a business online in MLM, your search is over. We have assembled a team of intelligent and driven locals who are expanding a gigantic business opportunity in this very city and around the world. The growth potential for this MLM online business is enormous, and the value of the product is substantial. You will become a part of a business that is self-sustaining, and which generates enough money to eventually become your sole source of income. Above all else, you will have the confidence of shaking hands with people who share the same dream, who are working towards the same ends, and who have done the research for themselves and come to the same conclusion: This is hands-down the best online business opportunity in the city of San Diego, California.
MLM Online Business – Shake Hands With Your Future
Volunteer Fire Department Financing – How to Ensure You Qualify For a Low, Tax-exempt Interest Rate
Why can volunteer fire departments borrow on low, tax-exempt interest rates? The IRS laws provide a nice benefit for volunteer fire departments. It provides the ability to borrow money at low, tax-exempt interest rates just like your local government. But the IRS has some rules to follow in exchange for providing this benefit and these rules must be followed so that you “qualify” as a tax-exempt borrower.What are the rules that volunteer fire departments have to follow to meet the IRS rules?
You must provide fire fighting service to a political subdivision that is not protected by another fire department.
You must provide this service under a written agreement.
You must use the borrowed money for a fire truck or fire station.
You must have a public hearing that you are issuing tax-exempt debt (which includes placing legal ads in your local newspaper to announce the public meeting date, time, and place to the public).
The political subdivision must sign a document that they are aware that you are borrowing tax-exempt money and that they approve its use for providing fire fighting services under the written agreement.
If you place the funds in escrow pending construction of the fire truck (which is very common), you must follow the rules governing the use and return on those funds.
You must file an appropriate form (for example, IRS form 8038G or 8038GC) with the IRS to notify the IRS that the transaction is tax-exempt.
There are a number of other rules and regulations to follow such as you must use the fire truck for a public benefit or purpose among others.
What bad things can happen if the IRS rules are not followed?Failure to follow these rules may result in the IRS “disallowing” your tax-exempt financing. If this happens, you may be forced to pay large penalties and taxes to the IRS. Also, your financing will probably revert to a taxable interest rate (usually about 3% higher) and you’ll be forced to pay for the back taxable interest. These can cost tens of thousands of dollars for the average fire truck.Here’s why.First, the IRS will penalize you for not following rules. The rules are set up to ensure that only volunteer fire departments who are legally entitled to borrow on these special, low, tax-exempt interest rates receive this benefit. The rules are set to provide a check and balance system that you are the community’s fire department, that you provide an essential government function for the community, and that the local political subdivision and the community are aware of what you are doing.Second, the bank’s contract will usually require you to certify that you will follow the IRS rules and, if the IRS declares you as non-qualified, the interest rate will revert to the taxable interest rate. This means that you will pay a higher taxable interest rate going forward but you will also be liable for the extra taxable interest payments in the past – from the beginning of the loan.Here’s why:The bank can offer you a low, tax-exempt interest rate because the bank does not have to pay income taxes on the interest you pay to them. Since this large cost (the taxes) don’t have to be paid, the bank can accept a much lower interest rate from a qualified volunteer fire department. So, if your financing is dis-allowed, the interest then becomes taxable for the bank and they will pay about 33% of the interest income to the IRS for taxes on the now taxable interest. The bank can not eat this large cost so its contracts include provisions to compensate the bank if the loan is found to be taxable. These provisions include being able to charge you for the extra interest to cover the income taxes they now owe.So, how can a volunteer fire department ensure that it will meet all the IRS rules?First, it is important to understand that the rules if you want the low, tax-exempt interest rate benefit available to you. Enlist help from your legal or accounting professional to guide you through this complex and exact process if you don’t feel you have a firm grasp on all the requirements.Second, ensure that the bank you choose has the experience to help you with this type of transaction. Remember, even if the bank makes an error, the IRS will contact and impose penalties upon you as the borrower. The IRS views you as the the beneficiary of the the rules and therefore you will be penalized if the rules are not followed.The good news is that there are several firms across the USA that specialize in financing for volunteer fire departments. Ask the questions so that you feel comfortable that they can help ensure you are fully complying with the IRS rules.A disclaimer:This article is intended to provide general knowledge about the IRS rules and help you formulate the questions you feel you need answered to help qualify for this benefit. This article is NOT intended as specific legal or accounting advice and it not a substitute for actual legal and/or accounting advice about your specific situation. Please seek the help of professionals for the help you need in this specific type of transaction for your specific situation.
A Small Business Loan Is Easy to Get If You Are Doing the Important Things Right
When your business is in its starting phase, you need a loan to grow it. Yes, there are ways for you to start your business with very little capital, but even in the age of the internet you need loans for the growth and expansion of your business. Oftentimes, startup and small business owners are scared of taking loans because they believe returning the same loan with interest on it will hinder their growth. The fact is a loan is not such a big liability if you have done your homework before getting it. Hastily getting a loan without researching the market and knowing your business’ growth potential can be detrimental to the business.Your Business Plan Matters Big TimeIt does not matter how experienced your management team is when your business plan is weak. When you ask for a loan from lenders, they are trying to find reasons to forward you the desired loan. They want to be sure that the loan they forward is returned in time and according to the terms and conditions set at the time of loaning. Lenders will seldom gauge the potential of your business to return the loan based on what you speak. What they want to see is a solid business plan and that’s why you need to have an impressive one. A strong business plan will consist of the following and some more.
The company description
Management role and experience
The product description
Strategy for marketing
An executive summary
Documented cash flow
Keep in mind that banks often look at the cash flow in the documented form, and their scrutiny is not limited to what your projections are for the future but more importantly how you have managed things in the past. They will look at your company’s cash flow records for past couple of years to see if you should be given the loan you are asking for. So, keep your business plan in mind and make sure you have worked on every aspect of it to present something impressive to the investors.Your Loan Options Are ManySometimes, you have a solid business plan and everything else is in place, but your understanding of loan options is not at its best. Many small business owners live with the impression that the only institution available to them for obtaining a loan is a bank. That’s far from truth because there are dozens of other ways to obtain the loan or investment for your startups that’s much easier to manage than a bank loan. Some of the options available to you include SBA loans from the government, invoice financing, business equipment financing loans, etc. If you are just a startup and none of those options seem viable to you, there is online fundraising.Online fundraising has become quite a popular method of getting investments for your startup from individuals who trust in your idea and concept of the business. Using funding website you have access to hundreds of thousands of investors located all around the world that are willing to help if you can convince them with your business plan and the team that’s behind your project. So, avoid making the mistake that many small business owners make when they think bank is the only place for them to get any money for their businesses.Your Timing to Apply for a Loan Is ImportantThis is a huge mistake that small business owners often make and pay the price in the form of not being able to obtain the loan they want at the terms they want. See, you will always be told to have a strong business plan because that’s the only way investors will trust you as an entrepreneur or businessperson. When you create your business plan, you are not just jotting down random numbers on a piece of paper. Your plan should give you an idea of what your business’ needs will be in the coming times. That’s when it makes sense to apply for loans well in advance and not at the eleventh hour.When you apply for a loan at the eleventh hour, you are seen as a business in trouble. Most investors will see your business as the sinking ship and they will never want to get on it. Obtaining a loan in these circumstances can become close to impossible. This is the reason why you should apply for a business loan in advance and not at exactly the moment you need it. You also have to keep in mind that loan approval process takes time too. If you need the cash on an urgent basis, every day that passes during the approval process will be causing more damage to your business.The Right People Can Make the DifferenceDelegating responsibilities to the right people is an art and skill that not many business owners have. Oftentimes, small business owners rely too much on their own skills and are scared to trust any other person to do things for them. This can be a grave mistake because you cannot be the jack and master of all the trades at the same time. For example, you might be great at crunching numbers and making accurate projections for the business but not very great at sales and pitching ideas. If you have to pitch your business idea, its marketability and scope to the investors, choose the person who can best present it. Despite your great business plan, you will fail to obtain a loan because of your nervousness and lack of confidence when it comes to acting like a clever salesperson.You have to bear in mind that investors are not investing only in your business, they are also investing in you. It is very important for them to like your personality to invest in your project. Appearing unprepared or nervous in front of them will send an impression that you are not fit to lead the project, your decision making is faulty and that you cannot create strong teams.A Well-prepared Presentation Can Win HeartsIt does not matter who is giving the presentation when the content is boring and does not address the points that investors are most curious to know. First, get your numbers straight and bring them into the presentation at the right points. Be the investor in your mind and think of the questions you would ask if someone presented the same product/service to you. Have your accountant, advisor and business lawyer by your side when preparing the presentation. You don’t want to give wrong figures during the presentation and fall for a bad deal at the end of it. The most important thing is to explain your business idea as clearly as possible. Many times the presentations are so all-over-the-place that investors can’t make heads and tails of it. If they don’t understand your business, they will never invest.So, bear in mind that obtaining a loan is not that big of a challenge. Most of the times, it is just some small mistakes in the areas mentioned above that become the cause of lost opportunities to get the right loans for your business. Create a solid business plan, choose the right people to represent your business and use all the options that are available to you at the right time to grow your business at the pace you want.
The Five Pillars of Marketing Success
Does the following give a pretty good picture of your current marketing activity?You have a website but you’re not really satisfied with it. You go to networking events once in awhile. If someone asks you to give a talk, you’re happy to do it. You post on Facebook and/or LinkedIn semi-regularly. When you find the time, you send an article to those on your relatively small email list. You occasionally set up meetings with colleagues to explore opportunities.Now there’s nothing wrong with any of those marketing activities. And usually, they will result in landing some new clients.But this is not the approach that works to get a steady, predictable stream of new clients.Please don’t tune me out here, thinking, “Well, I really can’t do more than this. I’m already stretched thin. If you give me too much to do I’ll get overwhelmed.”I agree. It’s not that you need to do more marketing, it’s that you need to shift your marketing paradigm from one of “Randomness” to one that is “Focused.”Random marketing is just that; it’s all over the place. You do a little bit here and a little bit there on an inconsistent basis. You are trying to keep your face, name, and message in front of your prospective clients but the results are unpredictable.The Random marketing paradigm is not very effective because it doesn’t gain a lot of momentum. You don’t do enough of one marketing activity to grab the attention of your prospective clients and move them to take action.The Focused Marketing Paradigm is very different. It’s based on repeatedly communicating very directly to your target market with a very definite end in mind. It gets the attention of your prospective clients and they ultimately take action.The Focused Marketing Paradigm has Five PillarsUnderstand and implement these five pillars and I promise you’ll see a shift in your marketing results.Pillar One: Focused GoalsA Random goal is saying something like, “I’d like to attract a few more clients to my business.” Not very compelling is it?A Focused goal is much more specific. “My goal is to land 3 new clients in the high-tech plastics business in the Houston area with an average project size of $30,000 each by the end of the year.”The more detail, depth, and specificity about the goal, the better. You’ve really thought through what you want to achieve and also have confidence that you could deliver if you did reach your goal. It’s so real to you that you can taste it.What is the Focused Goal for your marketing?Pillar Two: Focused Program or Service Random programs or services are generalized consulting, coaching or training programs. “I offer management consulting and training to corporations.” Kind of vague, right? But this is what I hear all the time.A Focused Program or Service is more tangible. “I offer the high-tech plastics industry Management Acceleration Programs for emerging leaders in the industry.”In my business, I’ve always offered programs: The Marketing Mastery Program, the Marketing Action Group, and the More Clients Club. And each program has very specific parameters, deliverables, and objectives. It sure makes intangible services easier to market and sell.What is the Focused Program or Service you’re offering?Pillar Three: Focused Target MarketIn the above example, the target was the “high-tech plastics industry.” But it’s more common to hear things like, “I work with large companies who want to increase productivity.” This is too general and it makes it hard for clients to know if you understand them and can help them.A Focused target market is where you are absolutely clear what kinds of people or companies can most benefit from your expertise. And then you articulate that clearly.I worked with a financial planning company last year that targeted middle class families in the Buffalo New York area. Guess who they attracted to their practice? When people read about who they worked with on their website, they said, “That’s Us!” and called them.Who exactly is your Focused Target Market?Pillar Four: Focused Message and Value PropositionA Random message or value proposition tends to be too general and can be hard to pin down. It avoids making a promise that is meaningful to the prospective client.Messages such as, “We offer the best service in the industry,” or “Smart insights into great management,” are meaningless to your prospective clients. The value is not immediately obvious.A Focused message or value proposition zeros in on exactly what your clients get and what it means to them. I admit that this can be the marketing pillar that is hardest to pin down. Ultimately you have to test a number of different things.For the re-launch of the More Clients Club, my current value proposition is: “Everything Self-Employed Professionals Need in One Place to Attract More Clients.” And now, of course, I’m bending over backward to deliver on that promise.And a marketing message or value proposition is much more than a sound bite. Your message must permeate every aspect of your marketing, from your website to the emails you send out. Your prospects need to be constantly reminded of the value you offer.What is your Focused Message or Value Proposition?Pillar Five: Focused Marketing StrategyA Random marketing strategy is much like the collection of marketing activities I outlined at the top of the article. You’re just all over the place, throwing something at the wall, hoping it will stick, with no organized system or plan.A Focused marketing strategy is more like a putting on a theatrical production. You have the script, the actors, rehearsals, and opening night, all executed on a strict timeline.Two examples:For my Marketing Mastery Program, I held a series of introductory teleconferences, invited those interested to apply for the program, interviewed each applicant, and then converted 50% into participants. Over a 6-week period, I filled my business for a full year – four years in a row.A career coach in one of my programs recently filled her practice in three months with a focused campaign of personalized emails designed to get appointments with her ideal clients. Then she converted a large percentage into paying clients.That’s the power of a focused marketing strategy.You need to identify the right marketing strategy for your business, but even more important is the way you organize and implement the strategy.Developing a focused strategy is the most complex and challenging of the Five Pillars. You can’t just put together something haphazardly and hope you get the equivalent of a professional Shakespearian production.What is your Focused Marketing Strategy?If you work to build a focused plan with these five solid pillars, your marketing will work better and faster, attracting more of your ideal clients, usually at a higher rate.I recommend you work on one pillar at a time. Write them out and fine-tune them until you feel confident and excited about them. Yes, you will need to do some research and study to make sure your plan is viable. But this is certainly better than spinning your wheels with a random strategy that is going nowhere.Cheers, Robert
How Online Education Can Improve Kids Learning
The way that we approach education is changing. The internet has changed everything and the internet now plays an important role in the way that we educate children of all ages.With the computer playing a larger role in the classroom and in society, more and more children are starting to use online educational tools at a younger age as part of their learning experience. It is amazing how quickly children can not only pick up the skills necessary to use the internet and online learning tools, but also the lessons they learn from the educational tools itself.Technology is only going to continue to expand and become a more important part of people’s lives and online education will help children not only with their education, but also how to effectively use technology.There are many different ways that online education can improve kids learning experience. Here are some of the most important benefits:• Appropriate pacing: These educational tools allow students to work through lessons and learn at their own pace. They don’t have to worry about keeping up other in the class and can focus on their own personal learning.• Accessibility: The beauty of online education is that kids can access learn tools from everywhere. They can use them in the classroom, at the library, and at home as long as they have an internet connection. Additionally, the cost of online learning tools is affordable and more widely available as you only need to go online to gain access.• Flexibility: Internet based educational tools are designed to be flexible. They allow students to come back to previous lessons, dive in and out of content, and it allows them to save their work quickly and easily.• Less intimidating: Learning in a classroom setting can be intimidating. This is one of the main reasons that many kids do not participate as much as they would like. These educational tools eliminate the intimidating factor.• Increased levels of engagement: internet educational tools increased a child’s level of engagement with the material though the use of interactive graphics, videos and other media.• They learn how to use technology: Part of the educational process that is often forgotten when it comes to online learning is that the kids that use the programs will also be learning how to use technology as they interact with the learning tool. Understanding how to effectively use technology is a skill that all children will need as they further their education and enter the workforce.• They supplement children’s education: Online education helps to supplement your children’s current education. Whether they are having trouble with math, reading, science or just need to approach learning in a new ways, these tools are designed to help.Online education is only going to continue to become a more important part of our education system. We are seeing this in the way universities and high schools are changing. Online educational tools will prepare your children for further education and help them enhance their overall learning experience.
Succession Development and the Independent Business Owner
As a third generation independent business owner, I have lived through, and seen how sad it is when business owners retire with little to show for their lifetime of efforts. The statistics are not great either, approximately ****94% of Australians retire with little or no self-derived income and require Government assistance to survive.In my opinion we have been sold a bit of a lemon with regards to superannuation with most Australians thinking that simply paying into a super fund will guarantee a great retirement income and lifestyle. The facts are that for Australian women our superannuation falls grossly short of what is needed and whilst the average Australian male has approximately double that of the women in Super, it is nowhere near enough to survive on. As we are living longer, we can spend almost a third of our lives in retirement. Just doing some simple maths will show if you have enough. But Australia we have been sold that by putting money into Superannuation that we will be all right in the end. Here is the wakeup call; Superannuation alone is nowhere near enough for most of us to survive on without Government assistance.For the independent business owner, unfortunately, they pay themselves last and many don’t even have superannuation or if they do, they have not contributed for years. The Government regulations on business owners is so arduous that it is becoming harder and harder to put away anything for themselves.Many independent business owners spend their days completely occupied with gaining market share, hiring and keeping employees, motivating staff, beating the competition, to give succession development any thought. Strange how such highly motivated, intelligent and energetic people can avoid such an important planning issue to their business.For the independent business owner it is a somewhat daunting and complex process to address their working life coming to an end, and most dread tackling it, they would rather work well beyond their years than face succession development or retiring. Many business owners have not accumulated much super instead they have put it back in their business. However on retirement they often do not sell the business for enough to live on in the retirement years. I’ve worked with many independent business owners who become frustrated and bitter with their environment towards the end of their career, making their business an even less viable option for someone to take over. For the majority of these hard working, self-sacrificing Aussies, there is no gold watch, goodbye party or big deposit into their bank account to say well done for your years of toil.However, most successful succession development has only three simple steps.
Keep the succession plan simple
Stay realistic about goals
Measure the steps of the plan for succession outcomes
Whilst most information on succession development has to do with the handing over of the business or the duties to someone else, an exceptional Financial Advisor will look at succession development with a slightly different focus, one that addresses your end income revenue stream and lessening your financial burden, thus reducing the stress on the independent business owner when it comes to the best financial opportunities to selling or handing over the business.Here is an example of the difference between doing nothing and engaging a professional financial advisor. Lucy W is single, an independent business owner, and 54 years old. Lucy has estimated that she needs approximately $50,000 per annum to live on. Lucy has around $60,000 in her superannuation fund.( *The average superannuation for women is $41,000) Upon retirement at age 67, Lucy will have not even two years of income from her superannuation, and then have to rely on the Government for a pension of approximately $20,000 P/A. (**More than half Australian women have incomes of less than $30,000P/A) After meeting with a financial advisor and working out a blueprint, Lucy could attain a retirement income of $60,000 per annum by investing in premium properties, strategically selected for optimum returns.Lucy’s plan involved purchasing four properties within two years and waiting for the compounding capital growth and rental return to occur which will reach above her estimated income goal in year six, when she can retire at age 60 independent of age pensions. *** (77% of Australian women rely on age pension in retirement)Most self-structured property portfolios have no plans other than obtaining rental properties, with no strategic process, thinking that the accumulation of properties would create sufficient wealth or income alone. A good financial advisor will incorporate acquisition, management and exit strategies to achieve specific wealth or income goals.Lucy had also recently paid to attend a get rich quick seminar that suggested it was easy to buy real estate, subdivide, build, and you would get rich fast. Lucy had not costed the entire project, did not know about the difficulties of building and different types of building contracts, and what happens when costs blow out and did not know how to take all the risk out of the transaction. The reality is far different, and to be successful requires a great deal of expertise and knowledge to achieve positive and predictable results.After posing a few strategic questions to Lucy she became aware that she did not have anywhere near the required knowledge, time or skill to perform such high risk real estate developments. Instead she chose to engage a professionals future certain plan, which has underwritten advice, and strategies that simply work.Do nothing Professional Strategy Succession StrategyAge 54 54Home value $500,000 $500,000Superannuation $60,000 $60,000Retirement Age 60 $20,000 p/a $60,000 p/aRetirement Age 67 $20,000 p/a $120,000 p/aWith an approach that allows the independent business owner to be free of the concerns about future income, I’ve seen from experience how their performance and enthusiasm improves and they end up having a much better result with their succession development, and actually look forward to it. So a professional financial advisor will do the following for you;
Keep your plan simple;
Stay very realistic about goals;
Measure the steps of the plan for succession outcomes
The example used for this article was a client of FLAG Property Investment Services.
Success With Starting a Small Business Online
Statistics are showing that there are more people today who are making the decision to run their own business instead of working for someone else. Operating a business without having to depend on a company paycheck, is a great feeling. Doing work for yourself that is not just a clone cubicle job is another rewarding feeling. These things are a big part of why many people choose to open their own businesses, and are what makes self employment so desirable. The pressure of having everything rest on one’s shoulders is usually enough to frighten away the masses though. Making the decision to be in business for yourself, should never be made lightly.Starting a small business online, is a lot safer and easier than taking the chance and spending a life savings on a brick and mortar business. Running a business from the comfort of your own home or place of choice, and not having to spend time on traveling to work, will make things a lot easier and less time consuming. The time that you save on unnecessary things, can be utilized to enhance your business. The idea is to work smarter, and not harder! Business is not rocket science, but you need to be on top of things and think like a true leader in order to succeed.There are so many new small businesses starting up online daily. There are many that are doing very well financially but the majority of websites that are online today do not get a lot of viewers. that is because the people who know what they are doing, are getting the lion’s share of the various markets. Making your small business a successful one needs the right type of website and the right type of customers drawn to it. Before starting any business, it is a good idea to plan first what you want to sell and how you want your site to appear to people searching on the web.The process of market and niche research is very important, and should always be the first step when starting a business online. This would then be closely followed by keyword research, to ensure you were going after the correct and “selling” keywords. The types of words that people in the “buying mood” use when they utilize the search engines such as Google and Bing. I cannot stress this enough, market and keyword research is the most essential step towards success on the web (or in any business for that matter).The second most important thing is your website; how it looks, and how well it operates. The appearance of your site is so very important, because the look of your site can either turn people away or have them interested in what you want to convey. Whether you have something to sell that is very useful or something that a lot of people are looking for, your site must appeal to the public for your business to become a successful one. Regarding operation, your website should not be hard to navigate and find the important items or information. It should be logical in its layout, and all functions should work as intended. If a potential customer receives a 404 error when trying to buy a product of yours, chances are good that he will not finish the purchase.If you take care and time to design your product, you should do the same when designing your online business structure and your website. No matter who creates the website, only YOU can properly design how it will operate. If you choose to have developers work on your web design and SEO, make sure that you are able to articulate that design properly before work begins. As long as you follow through on all of your information, and advertise your product correctly, your online business will be a great success!
Unsecured Personal Loans – Explaining the “Why” Behind its Popularity
Personal loans through banks and financial institutions have been a constant source of funds for most borrowers in the UK. Limited funds and an unlimited number of expenses have always forced individuals to use personal loans. Unsecured personal loans, a version of personal loans, has been very popular among tenants and homeless people. Of late, homeowners too started showing an interest in unsecured personal loans. Reason: the loan provider cannot claim a direct charge on any asset, particularly home.The absence of collateral in an unsecured personal loan doesn’t allow loan provider a direct charge on any asset. In the event of bankruptcy, unsecured loan providers are the last to be disbursed. When the proceeds of liquidation are not enough to suffice every creditor, unsecured creditors are the ones who lose.This clearly demonstrates the relatively higher risk that Unsecured Personal loans providers have to face. The stark differences in terms between the two kinds of personal loans are thus justified. This serves as a food for thought for many borrowers who would otherwise complain of inflated terms on unsecured personal loans.Risk plays an important role in gaining the trust of loan providers. Risk is defined as the potential harm that may arise from some event taking place in the present or in the future. Having no collateral to back repayments on increase the risk quotient.The worst affected through the increase in risk is interest rate. Interest rate rises manifold in an unsecured personal loan. While on most occasions the increase is justified, lenders will not miss the opportunity to make some extra pounds. This is done by adding a few percentage points to an already inflated interest rate. Most borrowers will accept this as the norm. Others, who conduct proper search before consenting to the loan, will question the increased interest rate.Comparison of interest rate using loan calculator is till today the best method to avoid loan providers overcharging in terms of interest. Loan calculator illustrates the rates of interest being charged by several prominent banks and financial institutions. The interest rate chargeable on separate categories of loans is also listed in the loan calculator. A borrower planning to have unsecured personal loan will first go to the relevant loan category; in this case the category is unsecured personal loan. A look through the category will reveal the least rates. If the rate being offered to you is higher, then shifting loan providers will be the solution. Allowing the loan provider a justification for the increased rates will be necessary. Sometimes because of bad credit history, the rate of interest or APR has to be further increased.A benefit that unsecured personal loans enjoy over secured personal loans is the promptness of approval. Valuation of property or asset will not be required as in secured loans. A large chunk of time employed for these valuations is saved in this process. Consequently, unsecured personal loans will be preferred on the scales of faster availability.Not many lenders would be prepared to offer large sums of money through unsecured personal loans. The amount desired will be slivered off. Unsecured personal loans cannot be used for purposes where the amount of finance required is very large.The faith enjoyed by a borrower in banks and his personal credit report has a very important role to play in improving his case for unsecured personal loan. Some loan providers immediately reject those with bad credit history. Some others, who are considerate to the problems of bad credit borrowers, offer unsecured personal loans, but with caution. The loan amount rendered is small. Lending policies may however be made less stringent for the borrowers with bad credit. The increasing number of cases of bad credit is improving acceptance of bad credit as a regular phenomena.The increasing preference of homeowners as well as homeless, for unsecured personal loans sees no decline. The desire to see ones home safe has inspired many people to change loyalties from secured personal loans to an unsecured personal loan. With the trend continuing, days are not far when unsecured personal loans will become as lucrative as secured loans.
Would You Benefit From Making Early Payments on Your Auto Loan?
Monthly payments make up an important element of the auto loan. The amount of money that you will pay each month depends on a number of things; such as the money you put down, the value of the car, loan term, your current income and credit score, etc. Many a times people wish to repay their auto loan earlier than their term or wish to get the loan refinanced. Understanding the effect of paying your loan early vis-à-vis making timely payments can help you in making a well-informed decision.Pay Early or Pay on Time: The Auto Loan Question· Are you interested in making Early Payments?You know you are a financially adept individual when you think about paying your auto loan early rather than spending the money on frivolous things. The following pros and cons of prepayment will take you one step closer in making the right decision.Pros: The reduction in the interest amount can help you save a great deal of money. Paying off your auto loan early gives you the financial freedom to use that money elsewhere. Secondly, if you are going to receive a large sum of money in the near future, it is wise to prepay your loan instead of spending it elsewhere. It will make your debt-free early and allow you to live a tension-free life.Cons: Timely auto loan payments mean that you have planned your finances in an efficient way. If you repay your loan all at once, it may project that you are unable to manage your credit. Remember prepayment of your auto loan will not hurt your credit score, however, it will not improve the score either.· Do you believe Timely Payments are a Good Choice in the Long Run?Small payments made every month can surely have a positive impact on your credit rating. The following pros and cons will help you clarify the advantages and disadvantages of timely payments.Pros: Timely payments made every month are certain to keep your credit score in check. Many a times people may forget to make the payments on time. However, automatic bank payments can help you to keep your payments regular. A shorter loan term with timely payments will help you in obtaining lower interest rates and an overall cheaper auto loan deal in the future.Cons: An automatic timely payment means that you will have to maintain a certain balance in your bank account, which may temporarily block your finances. A certain amount of your income gets allocated to the monthly payment. Compared to a prepayment strategy, timely monthly payments carry less financial freedom.Your Auto Loan Payment Schedule: What is Best for you?Income is an important element that decides which option you should choose between paying your auto loan early and making timely payments. If your monthly payment is manageable and your income supports the loan, you should opt for timely payments. However, if your income source is unstable and you require a car on an immediate basis, you should opt to make a prepayment of your entire loan. On the basis of your financial situation and circumstances, make the wiser choice.
How To Start Making Money Online As An Affiliate Marketer
The field of affiliate marketing is probably the quickest developing way to make money online. After all, billions of ordinary people use internet every day. Affiliate marketing gives you the opportunity to target potential customers regardless of their location in the world.For this reason, it isn’t surprising that a huge number of people make a considerable amount of money through affiliate advertising and marketing. Many skilled affiliate marketers end up making more money in this field than they did in their previous job, and hence some of them even resign their normal 9-5 job and pursue affiliate marketing full-time.A Quick Overview On Affiliate Marketing
Now that we have a little idea about the capacity of affiliate marketing, Let’s dig in and discuss what it truly includes.The easiest way to describe affiliate marketing is when you help another company sell their products online, and then you get paid a commission for each sale you bring to them.If you are promoting a product priced at $200, and the company pays you 10 percentage commission of the sale, you would make $10 for each sale.However how do you refer sales? You can begin promoting your seller’s products on your website, which receives targeted site visitors in the same niche as the product you are advertising. For example, if you have a website that sells makeup you would not advertise health insurance, but instead you could promote makeup related products. Every time one of your website’s visitors clicks on your affiliate link which was supplied to you by the seller, you will be paid a commission.How To Choose A Good Affiliate Network
One of the largest errors new affiliate marketers make is becoming a member of nearly each affiliate network they encounter. This is without a doubt considered to be a totally incorrect technique. That is due to quite some reasons.Firstly, being an affiliate marketer is an undertaking which calls for a lot of awareness. So, if you try and work with many affiliate networks at the same time, chances are that none of your initiatives might go as planned and consequently, none of them might end up being very successful.Secondly, focusing on just one or a few products without a doubt will let you research them thoroughly before you start to promote them. This method also helps you refine your strategies, making the required adjustments, and thus making your marketing a whole lot more powerful. An effective approach will yield better outcomes, and reward you for your efforts and time.Thirdly, make sure you do some research on the affiliate network as there are some networks that will only pay you once a month which might not work for you or worse they could not pay you at all. I am not telling this to discourage you from being an affiliate marketer, but instead I want you to succeed in finding the correct network and products to market and make your commission.There are affiliate networks that resort to “shaving”, a very common exercise in affiliate marketing where the networks display a discounted number of sales than what you referred, consequently paying you drastically less in commissions.Hence, to avoid been a victim to this action I would suggest that you stick to known and trusted affiliate networks. In any case, they only way you will succeed with a network is if you are comfortable with them and the products you are promoting.How To Start Getting Sales As An Affiliate Marketer
Getting instantly to the point, some affiliate marketers use social media web sites including Facebook, Twitter, YouTube, and more, for doing associate marketing, other decide to build out their own site. Getting your own site is an exceptional approach to affiliate marketing, because it gives you control over everything.So we will focusing on affiliate marketing using your own site moving forward. First matters first, as mentioned earlier, you will want to find an affiliate network you’re comfortable with. This includes being knowledgeable about the products you are promoting, so that you don’t come to be selling products you don’t know anything about.Amazon’s Associate Program
That being said, many marketers look at Amazon’s associate marketing program as one of the best. It’s possibly the most trustworthy network, and has a large inventory of products to promote and get your commissions.This offers you a possibility to promote nearly any product in the market, or pick a niche with low competition and you could be earning commissions in less than a week.Finding A Good Keyword
That is considered to be one of the hardest parts of marketing. You simply cannot blindly choose any keyword and expect to start making sales quickly. One of the reasons why many affiliate marketers fail is due to using a wrong keyword.If you are new to the affiliate marketing, you are going to want keywords that have low competition. Start your keyword research by finding long tail keywords with a low search volume, that means much less money, but not really with the ones that have large competition.You may test the top 10 and 20 results and do a few studies to discover if you may outrank them. Review keywords being used by the competition to determine if they are using identical key phrases you are looking to target. If they are, and they have a high authority website in that niche, I would recommend that you keep away from that niche, and opt for a brand new, less competitive.Quality Content
This is significant. If you think you will make a lot of money creating items that doesn’t help the visitors in anyway, you are very wrong. Although your goal is to earn cash by means of referring visitors to the offer, you will have to offer one thing of importance to them. Merely posting your hyperlinks along with lame sales pitches like “this is a wonderful solution, purchase this product via my personal hyperlink and get a discount”, and so on, you might be only heading to disaster.If you decide to join Amazon’s associate program, you could write an informative article on your homepage and include your primary keywords and some secondary keywords throughout the article. You could have the purchasing guidebook, and write your brief opinion of each product you are marketing. Remember that the greater the cost of the product you market, the greater the commission.Backlinks
We realize it’s probably the trickiest method to accomplish, unless you are an SEO guru. Contacting site with high authority and guest posting on these sites is a really well-known means of getting great backlinks. These great backlinks, along with guest posting in related sites in your niche will get you ranked on the first page of the search engines as long as the keyword you chose has really low competition.However, even when your site doesn’t reach page one, as long as you have guest posted on a number of sites in your niche, you will be bringing substantial amount of targeted traffic coming from these sites. So that it is a great tactic anyway.Mistakes To Avoid
Now you are aware of the process to becoming a great affiliate marketer with your own website, I want you to also keep in mind some of the most common errors brand new affiliate marketers make.Not Providing Any Good Value
Though we’ve got covered this item, it’s certainly important to remind you if you try to be extreme with your words to pressure the visitors to click on your affiliate link, it’s likely being deemed as junk or spam by many websites.Rather, it’s suggested to help these individuals select the right solution determined by their particular wants. This method makes these individuals feel more, which in return will check out the products you are marketing based on the value in your article.Product Research
Numerous online marketers will not do proper product research to gain knowledge on the product they are promoting, instead they are only worried about the amount of commission they will earn per sale regardless whether it will provide value to their visitors. This is an oversight, and will at some point lead to your readers not relying on anything you tell them.Tracking Your Links
When you begin advertising on Amazon or even some other affiliate network, it will be beneficial to track your affiliate links. It can help you find out which website is doing more sales and then you can make your other websites have the same kind of setup.Final Thoughts
I would like to say that despite the fact that affiliate marketing can be very fulfilling, it has a steep learning curve to it. You might face disappointment on numerous occasions prior to making a nice amount of money online.That said, affiliate marketing it’s suited simply for individuals who are likely to deal with several failures, but will come back with a positive attitude and willing to learn from their mistakes.