Financial Debt Or Credit Consolidation Could Be The Answer
Customer financial obligation combination solutions give borrowers with therapy on monetary as well as financial debt monitoring as well as credit report education and learning. If you have actually been taking into consideration insolvency to resolve your exceptional financial obligation finances, you might desire to take into consideration financial obligation decrease loan consolidation solutions rather. Establish the objective of removing your unsafe financial obligation and also look right into customer credit history therapy as well as comparable solutions, consisting of financial obligation loan consolidation solutions.
Financial debt combination firms are established up with the objective in mind of decreasing your financial obligation, overall regular monthly repayments as well as rate of interest price. The loan consolidation firms will certainly examine your existing financial debt as well as economic scenario as well as create a suitable strategy. You might likewise be called for to authorize a declaration or letter validating your recognition, your complete financial obligation quantity, the names of your financial institutions and also your intent to reward the financial debt sustained.
Financial debt combination firms as well as customer therapy solutions attempt to aid you with your economic scenario, as well as are not just thinking about earning money. They will certainly likewise assist fix your credit history with numerous debt fixing solutions, consisting of the removal of the unfavorable ratings on your credit scores record because of late credit rating repayments. This can maintain your credit history value by dealing with the financial institutions to reveal you as a bill-paying customer.
All you need to do is get in touch with a financial debt combination firm or customer therapy company to boost your economic scenario as well as monetary future, resolve financial debt as well as fix your credit scores.
Customer financial debt loan consolidation solutions offer borrowers with therapy on economic as well as financial obligation administration as well as debt education and learning. If you have actually been thinking about personal bankruptcy to resolve your exceptional financial obligation car loans, you might desire to take into consideration financial obligation decrease loan consolidation solutions rather. Establish the objective of removing your unsafe financial obligation as well as look right into customer credit score therapy as well as comparable solutions, consisting of financial debt combination solutions. Financial obligation debt consolidation companies are established up with the objective in mind of minimizing your financial obligation, overall month-to-month repayments and also rate of interest price.
Everyone talks about algorithm updates, but Google does a
whole lot more than adjust algorithms.
Some of the moves they are making are really going to impact
your marketing efforts.
So, what are these non-algorithm changes?
Well before I get into them, keep in mind that you aren’t
going to like some of them, and that’s ok. Instead, I want you to focus your
energy on how you can leverage these changes before your competition.
Let’s get started…
Change #1: Google executives are big on “ambient
computing”
If you aren’t familiar with the concept of ambient computing,
here’s a quick definition:
Ambient computing is a term that encompasses many different concepts. At its core, it is the combination of hardware, software, user experience, and machine/human interaction and learning, all of these things becoming the idea of using a computer or internet-enabled device, without necessarily consciously using it.
In other words, Google wants you to use them 24/7 no matter
where you are or what you are doing. They are doing this by integrating
products everywhere.
Whether it is Nest, Android devices, Chromebooks, smartwatches, Google Home, or anything else they can drum up.
Because their mission is to spread the usage of all Google
related products, it will eventually open up new ways for you to drive traffic
and monetize.
An obvious example is to create apps on mobile devices that
work on Android phones. Uber, Netflix, and Candy Crush are all examples of apps
that work on Android devices.
You already know about apps, but I bet you don’t have one.
Of course, a lot of those devices are old or in landfills. But still, there aren’t that many apps for how many mobile devices that exist. Especially when you consider that there are over 1,518,207,414 websites.
In other words, there are 759 times more websites than
apps, so consider creating one. 😉
If you don’t know how you can always use services like Build Fire.
And in addition to apps, you’ll need to start looking at generating traffic through all voice devices. Phones, watches, and even the smart home assistants that Google is creating leverage voice search.
Using tools like Jetson.ai
will help you create a voice version of your website so you can collect sales
and leads.
If you don’t think voice search is that important, 50% of searches are now voice-based.
Again, just like an app, I bet you don’t a voice search version of your website.
Question is, are you going to create one first or is your competition?
Change #2: Future generations are more likely to be
hooked on Google devices
In some countries like the United States, 60% of the schools
use Chromebooks.
That’s a ridiculously high percentage.
Apple has also been trying to penetrate classrooms, but they
haven’t been having the same success as Google.
All this means is that kids are going to grow up using
Google devices and fall into their ecosystem.
Sure, social sites like Instagram, Tiktok, or whatever else is new will always be popular, but the chances are these young kids will get to those sites using a Google device.
Even though Google isn’t as sexy as it once was, you shouldn’t
take it for granted. It’s not going anywhere, and future generations will
continue to leverage them. Just don’t drop your eye on Google and you’ll be
fine.
Change #3: Expect Google to buy someone big in the
ecommerce space
When you think of ecommerce, what name comes to mind?
I bet you are thinking of Amazon.
We all use Amazon and, of course, every major tech company wants a slice of the ecommerce market.
Even when I’m using a search engine to find something to
buy, I usually click on an Amazon listing because we all love their Prime
shipping feature.
Google’s been trying to take a piece of that market for years. From shopping actions to Google Shopping nothing has really been too effective.
As consumers, we are just trained to go to Amazon to buy stuff.
And if you aren’t going to Amazon, you are probably going to Walmart or one of their online stores that they own all around the world.
Google hasn’t made any big ecommerce or commerce purchases in general but you can expect that to change.
They may decide to buy a grocery delivery company like Instacart, but knowing them, I believe they will stick with the software, just like most things that they are doing.
Expect them to go after Amazon by helping people create
their own ecommerce site. Whether it is through a Shopify
acquisition or Bigcommerce or any other
platform out there, they want to own the ecommerce market.
It’s going to be too tough to go head-on with Amazon, and that’s I think they will take a different route and go after a platform like Shopify.
If you are selling products online you should, of course, be on Amazon, but don’t rely on them. Make sure you have your own website and look to see what platform play Google makes as you may eventually want to consider moving over to whatever they buy.
Change #4: Google will dominate the hardware industry
And no, I don’t mean they are going to create something
better than an iPad or an iPhone.
Apple, at its core, is a hardware company and they are clearly the winner when it comes to producing amazing devices that we use. But there is a big issue with Apple devices and even Samsung devices.
They are expensive.
If you want to buy a brand new iPhone, expect to drop $699 for the lowest model.
Google, on the other hand, does have high-end devices, but they also try and produce affordable devices. They also let other manufacturers use their operating system for their phones.
Their goal isn’t to make the most money per phone. Their goal is to get everyone in the world using their hardware.
Why?
Because that means they are collecting more data and that allows them to generate the most amount of money from advertising because all of these devices drive people to their search engine that is filled with ads.
It’s a pretty smart move.
I highly recommend that you watch this…
They aren’t just using this strategy with their phones, they
are trying to make all of their products affordable. That way people all over
the world can afford them.
Because if you live in places like Brazil or India, Apple
devices are too expensive, which leads people to choose a Google device.
Less than 5% of the world lives in the United States… the money is in the global markets.
If you are debating which platform to build on, consider Google, even if it isn’t the sexiest due to sheer volume. Android’s market share is roughly 87% because of its affordable hardware and partnerships.
Change #5: Expect Google Ads to go offline
Right now you mainly see ads on their search engine.
Yes, you will also find ads on some of their other properties like Maps, but expect them to be everywhere.
But still, ad dollars offline is more than a hundred billion-dollar industry, and that’s just in the United States.
Over the next few years, I bet you’ll see Google dip into offline advertising.
Just think of it this way. Google owns Waymo, a self-driving Uber type of service that is growing fast in popularity.
They have data from the Google devices in your home and the watch on your wrist and they know where you going through Waymo… essentially, they have more data on you than anyone else.
You can also use tools like Hello
Bar to create sliders and popups to drive visitors to your money pages.
Conclusion
The future isn’t going to look the same. Companies like
Tesla aren’t the only ones who are innovating, most big companies are.
Don’t expect Google to just stay the same and not adapt just
like every other tech company is trying to do.
It’s the only way to stay ahead and win.
As marketers and entrepreneurs, Google won’t be the only one
disrupting how you are growing your sales and traffic. But instead of getting
upset or complaining, accept it.
Be productive with your time and focus on adapting. Because
when you are adapting while your competition is complaining, you’ll win.
What other changes do you see Google making in the
future?
Everything You Need to Know About Business Funding that You Didn’t Learn in Kindergarten
Whether you are a new entrepreneur or a seasoned business owner, there are likely things you do not know about business funding. What are your options? How do you get it? What is the best option for you?
These are not easy questions to answer. There are a lot of variables, and it can take some time to figure things out. Don’t worry though. We’ve got you covered. We are going to take you back to school and cover everything you need to know about business funding.
A is for Application Ready
Not all business funding is a form of debt. The vast majority however, is. Crowdfunding, grants, and independent wealth are pretty much the only exceptions. For this reason, it is vitally important to be certain your business is application ready. That means having a stellar credit score, all documents prepped and ready, and collateral available.
You can’t do it overnight, but there is never a better time to start than right now. It may take some prep work that you have thought about. For example, did you know that for your business to appear fundable to lenders, it is important to have separate contact information, an EIN, a D-U-N-S number, and even to have a professional, user friendly website?
Not only are these things important for appearing fundable, but they are necessary to start building business credit. Business credit is important. Here’s why. Most of the time personal credit cannot handle the spending necessary to run a business. If you try to run a business solely on the merits of your personal credit, you could end up destroying your personal credit score even if you make every payment on time.
How to Make Your Business Appear Fundable
Get Incorporated
It is important to incorporate. You have a few options. The one you choose will depend on your budget and the level of liability protection you need.
C Corp
This is the most complicated and expensive option. Before you choose it, be sure there are other reasons. The other options work fine for business fundability.
S Corp
This option basically offers the same separation as the C Corp, but taxes are paid at the personal level, rather than requiring the business to be taxed as well. It is also cheaper than incorporating as a C Corp. If you aren’t required to file as a C corp, this is a good alternative.
LLC
Forming a Limited Liability Corporation results in less liability as well. It also offers enough separation to serve the purpose of establishing business fundability. If you are not required to be a C Corp or S Corp, this is the easiest and most cost-effective way to go.
Get an EIN
You need to apply for an EIN. It acts like your SSN, but for your business. It allows you to apply for business funding without using your SSN in some cases.
The process for applying for and EIN is easy. The IRS has an online form, and as soon as all the information is verified you receive your number. It typically happens almost immediately.
You Need a D-U-N-S Number
Dun and Bradstreet (D&B) is the most business credit reporting agency that is most commonly used. They issue each business on file a 9-digit D-U-N-S number. Application is easy and free. This is essential to building business credit, which is necessary to be application ready.
Separate Contact Information
As already mentioned, your business needs its own phone number. This way, when you apply for credit, you can enter contact information that is separate from your own. When information is reported to agencies, sometimes the phone number is an identifying factor. This is just another way for lenders to see your business as a separate, fundable entity. Some non-traditional lenders and credit cards require you to have a business number listed in the directories as part of the approval process.
Along with a separate phone number, your business needs it own physical address and email address.
In today’s business world, you absolutely must have a website. You can’t just throw one together though. A poorly put together website is just as bad as no website, if not worse. Go ahead and spring for someone who knows what they are doing. It needs to be professional. Pay for hosting too. A free hosting service will not cut it. Remember your business email needs to have the same URL as the website, so a free email service such as Yahoo or Gmail is no go as well.
Business Bank Account
Get your business its own bank account. It will help your business appear fundable when applying for business funding, but it will also help keep personal and business expenses separate for tax purposes. In addition, some business credit cards and tradelines like to see a certain balance in a dedicated business bank account.
Establish Credit Lines with Vendors
New businesses just getting started should look for vendors that will extend credit and report to the top credit agencies.
If you have been around for a while and do not have credit with your existing vendors, ask for it. If they comply, ask if they currently report to the credit agencies, or if they will. Not all vendors do because it is not required, and not all are willing. If your current vendors do not want to cooperate in this endeavor, consider switching to vendors that will.
Talk to the Utility Companies
Sometimes utility companies are willing to report payments to credit agencies, which can help you build business credit for applications as well. That’s just one more step to appearing fundable. When the time comes to apply for business funding, you’ll be ready.
B is for the Best Options for Your Business Funding
There are so many options for business funding available it can be completely overwhelming to determine which ones are best for your business. The best one may even change from circumstance to circumstance. Variables such as why you need the funds and your businesses’ ability to qualify for funds all make a difference. Here is a quick rundown of what is out there.
Traditional Loans
These are the loans that you go to the bank to get. As a business, your business credit score can help you get some types of funding even if your personal score isn’t awesome. That isn’t necessarily the case with this type of funding however.
With a traditional lender term loan, you are almost always going to have to give a personal guarantee. This means they will check your personal credit. If your personal credit score isn’t in order, you will likely not get approval.
What kind of personal credit score do you need to have in order to qualify for a traditional term loan? If you have at least a 750 you are in pretty good shape. Sometimes you can get approval with a score of 700+, but the terms will not be as favorable.
If you have really great business credit, your lender might be more inclined to be a little more flexible. However, your personal credit score will still weigh heavily on the terms and interest rate.
Of all of the available business funding options, this is the hardest to get. It is usually worth the trouble though if possible, because it often has the best rates and terms.
Non-Traditional Lenders
These are private lenders. Usually they operate online. The difference between these and traditional lenders is that the loans have looser approval requirement and a much faster application process. Most often you can simply apply online. Most offer approval in as little as 24 hours, and the funds are in your account within 24 to 48 hours after that.
These are an option if your personal credit isn’t terrible and you need funding fast.
Lines of Credit
Lines of credit are basically the traditional lender’s version of a business credit card. It’s revolving credit. That means you only pay back what you use, just like a credit card. Rates are typically much better than a credit card however. The application and approval process is similar to that of a traditional term loan.
If you need revolving credit and can qualify for a term loan, this is the best of the available business funding types for you. It is great for bridging cash gaps and covering short term expenses without high credit card interest rates.
The lack of loyalty points and rewards however, makes some business owners prefer credit cards despite higher interest rates.
Invoice Financing
If you are an established business with accounts receivable, invoice factoring is one of the available business funding types that you have access to. This is where a factoring company advances you funds based on your invoice quality. When you collect, you pay them a factoring fee. You get cash right away without waiting for your customers to pay the invoices.
This is a good option if you need cash fast, or you do not qualify for other business funding options. The interest rate varies based on the age of the receivables.
Crowdfunding
Crowdfunding is a newer option for finding investors. With crowdfunding, you can literally have a crowd of investors fund your business $5 and $10 at the time.
There are many crowdfunding sites, but the most popular are Kickstarter and Indiegogo. They are similar, but there are some important differences. The most obvious is the timing of when you actually receive the funds that others invest in your company.
There are other crowdfunding sites out there as well. Different ones work better for certain businesses than others. Do some research. Keep in mind your type of business and the specific business each one appeals too.
Credit Cards
These get a bad rap, but they can actually be a good option. They are available much more readily, even with a poor credit score. Lower the credit scores get higher interest rates however, and there are limits on how low they will go with a credit score.
This is one funding types that most of the general public are eligible for at any given time. The downside is that they typically have a high interest rate. The upside is that many of them offer rewards in the form of cash or points that can be helpful.
Grants
There are not a lot of grants for businesses out there. Typically, they are offered by professional organizations. There are some government grants available also. Competition can be fierce, but they are definitely worth a shot if you think you may qualify.
Requirements vary from grant to grant. Most are only awarded to a certain number of recipients. They are worth looking into if you fall into one of these basic categories.
There are also some corporations that offer grants in a contest format that do not require much other than that you meet the corporation’s definition of a small business and win the contest.
When it comes to business funding, everything it connected. Sometimes things that you never even think about can affect your ability to get funding. For example, if you are applying for funding from the same bank that holds your business account, they are going to have access to that account activity. They will be able to see if your account continually goes into the red. Something like that could throw a red flag. If you habitually bounce checks on your personal account, they may see that too.
Imagine if you were the recipient of a business grant. Now imagine you are asking a lender for funding. It is likely they will be able to find out through social media or some other means that you were the recipient of the grant. They may ask you how you used the funds and what you have to show for it. If you cannot show that you managed grant funds in a profitable way, they are going to be less likely to award you with business funding from their institution.
Even things such as your business’s online reputation can affect your ability to get funding. If a lender happens to check the business social media and takes note of bad reviews, that will not be a good thing.
Consider These ABCs before You Need Business Funding
While you may not be sure what the best funding options are for your business until a specific need arises, you can definitely work on being application ready and recognizing potential connections on a continual basis. Doing so now will likely make getting business funding much less of a hassle when the time comes.
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