4 New Work from Home Tips To Get The Funding You Need

There are tons of articles on the internet about how to make working from home work for you. How to run a business from home is a popular topic.  You don’t need me to give you more ways to organize your work space or keep yourself out of the fridge. No one needs more work from home tips on how to schedule your day and avoid distractions.  There are plenty of places to get those. 

I’m going to give you something you can’t in every internet search that includes “work from home” and “tips.”  I’m going to tell you how to get the funds you need to run your home based business now, and how to ensure you’re set up properly to get more funds in the future. 

Little Known Work from Home Tips To Get the Funding You Need for Your Home Based Business

You may think you can just go to the bank and get a home based business loan just like any other loan.  However, you may be wrong.  If your personal credit score is really high, it’s possible.  Yet, home based businesses do not traditionally bode well with lenders. These work from home tips can help your business appear fundable to lenders.  They can help you build your business credit score. Even better, they can point you in the direction of the best funding options for work at home businesses. 

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

Work from Home Tips #1: Work With a Business Credit Expert

This tip comes before all the other tips because frankly, some of them are almost impossible to pull off without a business credit expert.  This is someone who can help you: 

Work from Home Tips #2: Work on Fundability

Working on fundability is essential.  This is a tip for any business, but fundability is something that many home based businesses struggle with. There are many factors that affect fundability.  Still, home based businesses struggle with a few specifically more than others.  

The thing is, a major aspect of fundability is to appear to lenders to be separate from the owner.  They want to see that a business is fundable on its own.  For this to happen, the first thing you have to do is set up your business to be separate from you the owner. 

The Home Based Business and Fundability Conundrum

What makes this an exceptional issue for home based businesses? Well, it’s no secret that one of the major benefits of working from home is not having to pay for an office space.  There is no lease, no extra utilities, you just use the space you already have.  

In fact, most home-based businesses are run as sole proprietorships with the same contact information as the owner. Many do not even open a separate business bank account at first.  Also, it’s quite common for sole proprietor’s to simply use their social security number rather than using an EIN from the IRS. 

While there is nothing wrong with any of this, it does not suit the purpose of separating your business from yourself for fundability.  To do that, you need a separate phone number and address for your business.  Do not think that means you have to have a separate location.  You do not.  There are ways to get a business home phone number and even a separate business address and still run your business from home.  You also need an EIN and business bank account.  

You also really need to incorporate as an S-corp, LLC, or corporation. For fundability purposes, it doesn’t matter which one you choose.  Discuss the options with your tax professional and attorney.  They can help you determine which one is best for your budget and needs for liability protection.

Work from Home Tips #3: Open Accounts that Report to Your Business Credit Profile

If you set your business up to be fundable, it will also be set up the way it needs to be to establish a business credit profile. This means you can start to build your business credit score separate from your personal credit score. 

Here is how it works. You have to open accounts in your business name, using your business contact information and your EIN, not your SSN.  The catch is, they need to be accounts that will report to the business credit reporting agencies.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

This is easier said than done, as most vendors do not make it easy for the general public to figure out whether they do this.  In fact, many do not report, which makes this particular tip harder. In the beginning, you have to find vendors that will extend credit and report payments without checking your credit.  That is, if your personal credit isn’t good. 

This is one tip where a business credit expert can be especially helpful.  These experts know many vendors that will report. They also know which ones you qualify for an account with right now.  Even better, they know how to position you so that you can be eligible for more accounts in the future. 

Work from Home Tips #4: Home Based Business Loans

With strong fundability you’ll be able to get pretty much any funding your business could ever need, even if it is  a home-based business. However, in the beginning, some loans are going to work better than others. Here are some examples. 

Credit Line Hybrid

With the Credit Line Hybrid, you can usually get a loan of 5x the amount of your highest revolving credit limit account, up to $150,000. Honestly, this is more than what you could get on your own when applying for credit cards. Furthermore, you can get cash out on this program.

Also, there is no impact on your personal credit with this type of financing. You need a 680+ credit score, but if you don’t meet that you can take on a credit partner who does. A lot of business owners use the good credit of friends or family to help them get the funding they need. 

It does not affect your personal credit score at all.  In fact, it can help build your business credit score if your business is set up properly as mentioned above.

401K Financing

Your existing 401(k) or IRA can help fund your business as well. The funds work as collateral for business financing. As a result, your personal credit score isn’t really an issue. This program uses IRS proven strategies. You will pay no tax penalties, and you still earn interest on your 401(k).  Even better, rates are low, and this option usually has a quick closing and funding process.  If you are currently struggling to fund your home-based business, this is an excellent way to get started.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

SBA 7 (a) Loan

The SBA offers federally funded term loans up to $5 million. The funds can be used for expansion, purchasing equipment, working capital and more. Banks, credit unions, and other specialized institutions process these loans and disburse the funds.

Credit Suite business credit experts can help you with these types of funding and more!

A Business Credit Expert Can Help You With These Tips and So Much More

While there are plenty of work from home benefits, there are also some disadvantages of working from home. If you want to work from home, you have to find a way to overcome these work from home challenges. If you are running your business from home, one of the greatest of these challenges is funding your business. A Credit Suite business credit expert can help.

The post 4 New Work from Home Tips To Get The Funding You Need appeared first on Credit Suite.

7 Key Strategies That You Must Learn From Apple’s Marketing

Have you ever looked at a really successful brand or person – a celebrity, say, or a big company – and wondered, “How on earth do they do it?”

Apple is one of those brands for me. Almost everything the company puts out succeeds. The company has enjoyed almost unparalleled revenue growth from 2004 to 2020 — $8 billion to $2,274 billion. That’s astounding.

But Apple’s success isn’t just a matter of making a lot of money, or selling a lot of products. How many brands that have completely changed the game in their niches the way Apple has?

Not only that, but Apple’s done it several times over, despite some strong criticism from the naysayers. The iPod, the iPhone, the iPad–all of these products pretty much revolutionized their respective market “space.” Their success is a direct result of their marketing strategies.

Apple’s marketing mix creates raving fans who stand in line for hours and hours on end, just to get the first iteration of any new product the minute it’s released throughout social media.

Apple does what it does so well that there are whole websites out there devoted to nothing but Apple products and Apple marketing. Even high-end journalistic publications like The Atlantic write endlessly about the company, dissecting what it does and how it does it.

Apple goes way beyond the “computer brand” label — they create products for their target market, loyal customers that believe make these products life better, easier, more fun, and cooler.

How on earth do they do it?

Well, design and utility are just two of the reasons behind Apple’s success and certainly give it a competitive advantage.

But, more importantly for you and me, Apple’s secrets for transforming casual purchasers into brand ambassadors can be applied to just about any business in any niche or industry.

In this article, I’m going to reveal seven pillars of Apple’s world-famous marketing mix that you can adapt for your own business. 

1. Rethink the Need for Advertising

It’s tempting to drop lots of cash on PPC ads with Google or Facebook when you want to increase your sales revenue. But, Apple knows that’s not always necessary.

In fact, Apple relies most on two completely different strategies: product placement (especially with celebrities and in popular shows) and the buzz created by positive reviews in the media.

This secret was revealed in Apple’s patent litigation with Samsung, believe it or not:

key strategies you can learn from apple screenshot

Even if you don’t have Apple’s resources and budget, you can still take advantage of this approach to increase your market share. But, you may be asking yourself “How could I possible implement this Apple marketing secret in my own business?”

Well, it may not be possible to put your product in the hands of a Kardashian, or on the set of a popular TV show.

But, you can absolutely approach insiders and influencers. If you persuade an influencer that your product or service is worthwhile and relevant to their audience, they’ll share it with their followers.

Another way to use this Apple secret is to embrace a free trial program. Offer a free trial of your service or product, in exchange for a positive testimonial.

If a free trial of your product isn’t feasible, then get in touch with your existing satisfied customers and ask for a positive testimonial or review.

Publish those testimonials on your site. This isn’t a difficult component of your marketing mix to develop.

I’ve been publishing testimonials from my satisfied clients on this site for some time now, and I can attest to the fact that they help persuade prospects to convert into clients and subscribers. You’ll see some of those testimonials on this very page.

Don’t forget to attribute each testimonial with an image or avatar, the person’s name, and a link back to their own website, if possible. This adds more social proof to the customer’s positive review of your brand and gives greater legitimacy to your target market.

You can also implement this winning Apple strategy by creating more case studies.

Nielsen research on consumer trust in marketing shows that 92% of consumers trust recommendations they get from friends and family, while 70% of shoppers trust opinions from other consumers that are published online, such as reviews.

Consider using this outline to create your case studies:

7 apple marketing strategies to try; create more case studies.

Last, but far from least, if you are going to launch a PPC ad campaign, make sure you go about it the smart way.

Choose your PPC network carefully; create a clean, well-written landing page with a clear call-to-action and make sure your ad copy and landing page are completely aligned.

If you need more help with PPC ads, the following resources will help:

2. Avoid Price Wars by Emphasizing Your Unique Value Proposition

Many entrepreneurs believe – falsely – that they have to compete on price. Nothing could be further from the truth.

In fact, competing on price can actually hurt your business.

Apple knows this and has never wavered on its pricing strategy. 

Dropping prices and competing on price leads to a “race to the bottom.” If you’ve ever looked at job boards for freelancers, you might see some strange things. For some sites, the going rate for a blog post is $10, or even less!

This might sound like a great idea, but it’s really short-sighted when developing market share. “You get what you pay for” has never been more true than when businesses and freelancers try to underbid each other. Content marketing requires quality and it will be hard to get that for dirt cheap rates.

Your $10 post is almost certainly going to be poorly written, with no exclusive research or data to back up opinions. And, that post could simply be regurgitated from someone else’s site – or even outright copied, word for word. 

Even Copyscape can’t protect you from junk content. The foundation of content marketing is quality content as the cornerstone of a marketing mix.

That’s because no freelancer could survive on $10 per piece, unless they can create each piece in bulk. But your marketing strategy won’t survive if you don’t work on smart quality.

Instead, do what Apple does.

Apple focuses on their UVP (unique value proposition), which is beautiful design that works right out of the box with ever-smaller packaging. It’s a marketing strategy that gets juice throughout social media and is very much a competitive advantage for Apple and its market share.

What about cost? Well, let’s just say Apple is absolutely not competing on price! In fact, you’ll almost certainly pay more – sometimes a lot more – for an Apple product than you would for a competitor’s version of the same product.

Take some computers, for example – let’s say, two similar laptops, like the Microsoft Surface Pro, which costs about $900. Apple’s Macbook Pro, on the other hand, costs over $1,200.

How can Apple keep its fans with a pricing strategy so much higher than the competition?

It’s because Apple doesn’t view PCs as competition. Where others focus on a single killer feature through a variety of content marketing, Apple focuses on the entire product, and it shows.

In fact, Apple routinely earns its higher prices with top-of-the-line features and specifications.

You can implement this same strategy, no matter what niche or industry you’re in and regardless what your business model may be.

Whether you’re selling products or services, the key to making this strategy work for you is to make sure that you justify that higher price to capture your market share.

For SaaS companies, that could mean creating a higher degree of personal service or a full money-back guarantee.

For coaches or consultants, the competitive advantage could mean beautifully branded deliverables, in addition to work sessions or Skype calls.

You can also follow Apple’s example by offering a variety of options for your products and services at different price points. For instance, Apple’s Macbook laptop line offers larger screens and other enhanced features, for a higher price.

Yes, Apple is like the Rolls Royce of technology products with a retail store design that look more like a show room. Their customers are more than happy to pay that premium, because they know they’ll get their money’s worth.

3. Keep Your Marketing and Your Products Simple

More isn’t always better.

Apple understands that technology consumers often get overwhelmed. That’s true of other niches and industries, as well. Overwhelm can create a confusion in a marketing mix.

Apple reduces that consumer confusion by simplifying their web and sales copy. They completely eschew jargon or industry terms. Instead, they use simple, direct words and they continually stress the benefits that consumers absolutely need and will be thrilled by. This is part of their brilliance in content marketing; high tech without high tech terms.

This approach doesn’t confuse their customers with too much information. As Leonardo da Vinci said,

Simplicity is the ultimate sophistication.

Apple keeps it simple and their customers love it giving them a loyalty with market share that is unprecedented.

Apple also follows through with this principle in the ads it does run. Remember those classic “Mac vs. PC” spots?

key strategies to learn from apple marketing apple vs pc

What Apple’s ads and marketing strategies convey isn’t specifications and features, but rather how the product can change your life and make it better.

But Apple doesn’t stop there. This is just step one in their marketing strategies.

They carry this philosophy of “simpler is better” through to their product lines, too. They don’t overwhelm prospective customers with too many choices, parameters or options.  An Apple retail store is designed for test driving products not grabbing boxes.

Even the products themselves are kept sleek and minimal, with simple color schemes and clean, uncluttered design. The names are short and easy to remember, including the “app store” that has made third party partners huge successes.

apple marketing tips design matters

How can you follow Apple’s marketing strategies in your own business to capture the biggest market share?

Start by making sure your website and blog have scannable content. Research shows that only 16% of website visitors read every word on a page. The vast majority of users – 79% of web users, in fact – simply scan the page. This is imperative in understanding your content marketing and potentially using social media with smaller bits of digestible date.

To make your content scannable, use bullet points to convey benefits. Make sure that your headings and subheadings are clear, vivid and surrounded by plenty of white space.  Easy to read means the target market will stay on the page and come back, increasing your market share.

Look at my homepage here, to see how I’ve done it:

apple marketing strategies to steal neil patel home page

You’ll notice in the above screenshot that I haven’t cluttered up the page with tons of text. There’s lots of white space surrounding the bullet points and only one image – mine – to call attention to the bullet points.

Don’t try to put every single feature of your product or service on the page.

Instead, focus on the most valuable UVP for each product.  Then, stress that.

One great example of this in action is Virgin Mobile’s phones page:

image13

Select a clean, minimalist design for your landing pages. Reduce clutter around the important sections of your page’s content, such as sidebars and widgets.  Then, the user’s eye is drawn to the product or copy itself.

Finally, if you have the budget, I’d recommend hiring a professional copywriter, especially on crucial product and services sales pages. It’s not easy to give enough information to trigger a conversion or a sale while still keeping that streamlined, simplified approach.

4. Know Your Audience and Talk to Them in Their Language

It’s not that Apple doesn’t mention product specifications and technical details at all. In fact, every product page on the Apple website does mention those things.

But, they put it below-the-fold. Visitors to Apple’s website first have to scroll past beautiful product images and large-font simple copy telling them about the product’s benefits.

Initially, Apple customers won’t find words like megabytes or gigahertz. They find words they know and understand:

  •  “edge to edge glass”
  •  “retina display”
  •  “LED backlighting”  

Apple knows its customers very well and has developed loyalty in their market share.  And, they know how to speak to them in the language that makes them feel comfortable, not overwhelmed and confused.

The products themselves are a marketing mix that show off their relevance to the way Apple’s customers actually live their lives. For instance…

  • The iPod isn’t just “a music player and storage device” – it lets you store hours of music in your pocket.
  • The iMac isn’t just “a computer” – it helps make your computing experience exciting and pleasurable.
  • The iPhone isn’t just “a smartphone” – it lets you put the power of an Apple computer in your phone.

Is your website copy speaking your prospects’ language? Creating a customer profile for each of your main audience segments is the best way to find out. This helps develop the content marketing strategies specific to your audience.

Even better, the process of creating these profiles will help you to understand your audience much better.  Then, you can give them what they’re looking for – and make your content even more appealing and valuable to them.

Here’s how to make sure that you’re talking to your users and customers in a way they understand and feel comfortable with.

Create Customer Profiles

Create customer personas for each major audience segment of your business. The more detailed these profiles are, the more useful they’ll be and beneficial to your marketing strategy.

apple marketing tips create customer profiles

Include factors such as age, gender, profession and other demographic information, plus psychographics – their pain points, fears, desires, etc. What motivates them to buy? What do they need before they’ll trust you? How can you fill that need?

You may have more than one profile expanding your marketing mix – e.g., older couples whose kids have already left home, singles who’ve graduated from college and haven’t married or had kids yet, etc.

Name Your Profile

Name and find a picture of a person – either from Google Images or a stock image site – that matches the profile. The idea here is to make each profile seem like an actual, living human being.

Here’s an example of a built-out customer profile, complete with name and picture, from Convince and Convert:

apple marketing tips customer profile example

Speak Their Language

Speak to these people in your marketing copy, with the language they understand. Look at each page on your website and revise anything that doesn’t sound like the way you’d actually speak to these folks.

Pretend you’re actually speaking to that person and your copy will appeal strongly to similar customers.

You can also carry that same customer-centered approach throughout every aspect of the customer’s journey, including customer service. Yes customer service is a key component in marketing strategies to develop loyalty and retain your market share.

Let’s say that you’re serving an older generation. Don’t force them to use a chat-based system for customer service. Give them a phone number and a person to speak to. And, make sure that your website copy is large enough for older people to read. Giving people what they want is how you capture greater market share.

Millennials, on the other hand, prefer chat-based systems, since they’re faster and easier to use for that generation. Don’t make these customers pick up the phone, when they really prefer to type out their problem and get an instant response. Understanding this diversity of your customers helps you develop the right marketing mix. 

5. Design a Better Customer Experience

Did you know Apple fans often create videos of themselves unwrapping their new Apple products and upload the video to YouTube?

It’s true. It’s called unboxing. Do a search on YouTube and you’ll find hundreds of Apple unboxings, each from different users across the globe.

Why does that happen?

Because Apple has created a customer experience that goes far beyond the actual purchase in a retail store. They no longer even need to be in charge of a huge part of their content marketing since their target market is doing it for them.

The “Apple experience” includes elements from every aspect of the purchasing process – comparing different product versions, trying out products in the retail store, actually buying the item, receiving it, unwrapping (sorry, unboxing) it, and setting it up.

Each of these elements doesn’t just happen by chance. They were all carefully crafted, revised and refined to appeal to the consumer’s every sense.

Take installation, for example. One of the things Apple fans truly appreciate about Apple’s computers is the ease with which you can set them up. It’s literally as simple as opening, plugging in, turning on and, voila – it all just works.

Yes, Apple spends thousands of hours on testing and designing and refining those designs. They do that so that what’s inside the box matches the box, and the box matches what’s inside.

The Apple retail store experience isn’t just a quick trip for most people. Most people who enter an Apple store end up staying in the retail store, trying the products, asking questions of the “geniuses” who work there – and many of them walk out with a new purchase. The Apple retail store inspires purchases.

apple marketing tips apple retails store example

The retail store is carefully designed and replicated to evoke the right “feeling” when you step inside. Warm lighting, monochromatic color schemes, and the layout of the store features all appeal to the shopper’s senses, without feeling cold and impersonal.  Even the large front windows that let people outside see everyone inside having a great time are intentional.

To implement Apple’s “eye for design” secret, start by charting out your customer’s experience with your brand. Note each major step and where it takes place (i.e., on your Facebook page, a specific page on your website, etc.).

Next, analyze each piece of that “experience puzzle” and score how well it fits with your overall brand. What can you improve?

Think about ways that you can make each point of contact with your prospect or customer cleaner, clearer and simpler. Make each part of the journey more consistent with the look, feel, visual branding elements, and personality of your brand.

Then, think about going even further. What could you do to delight your customer?

That’s the Apple way!

6. Aim at Your Prospects’ Emotions

Think back to the first ads for the iPad, after its buzzy launch in 2010 and how simple their content marketing was.

Remember those images of people relaxing in the living room with the strange new gadget? They looked happy and comfortable.

They weren’t talking about display dimensions or processing power. They were just enjoying their iPads.

Those ads, as with all of Apple’s marketing, hit their consumers where they really live – not in the pocketbook (we’ve already seen that’s not true at all!) but in their hearts.

Emotional connections are the key to successful marketing strategies. It’s what makes certain stories, videos, and memes go viral.

Dr. Jonah Berger’s famous study showed that content that evokes high arousal emotions is more likely to go viral than content that provokes no emotional response. Examples of high arousal emotions are happiness, awe, amusement and anxiety.

Moreover, positive content is more likely to go viral than negative content. Positive emotions simply trigger a stronger reaction in users’ brains than negative ones. These are simple marketing strategies.

In his book, Descartes’ Error, author Antonio Damasio, a professor of neuroscience at the University of Southern California, states that our emotions play a crucial part in our decision-making processes, especially when we’re buying something. Marketing strategies must start with emotion.

And, neurological science tells us the same thing. Functional MRI tests prove that when consumers evaluate businesses, they primarily use the parts of their brain associated with emotions, personal feelings, and memories/experiences, not the portions associated with facts.

Above all, you’ve got to understand and publish the kind of content that your target audience wants most of all. Smart content marketing gets you the most on the web’s leading social media networks? Turns out, it’s content that evokes either awe or laughter – or both.

The testing team at BuzzSumo wanted to understand just what makes content go viral and get shared thousands of times by users. So, they teamed up with OKDork and conducted an extensive study about the marketing mix in social media.

First, the team identified the most shared content all over the web, within a specific time period. Next, they mapped each of the articles to a specific emotion, such as joy, anger, sadness, happiness, laughter, amusement, empathy, etc.

Here’s what the breakdown they created looked like:

apple marketing tips why content goes viral

You can see from this chart that the top two emotions that the most viral content evoked in readers were awe (25%) and laughter (17%). Similar emotions, such as joy and amusement, accounted for another 29%.

What this means is that if you can quite literally make your readers happy with your content, you’ve really hit the target.

To evoke and build on your customers’ emotions the way Apple does, use emotional language in your copy where it makes sense to do so.  Make sure it flows naturally. One way to do this is to use emotion-trigger words in your copy to develop smart content marketing material.

Tip: To make sure copy flows naturally, record yourself as you read it aloud. Then, play it back. If it sounds stilted or formal, revise it until it sounds more conversational.

Also, think about what emotional impact your product or service evokes in your customers.  Then, look for or create images to use that evoke that same emotion.

Here’s an example: JustGiving, the world’s leading online fundraising platform, raised almost $1.5 million for its charitable partners. Look at this landing page image that the site uses:

apple marketing tips just giving example

What emotions does this image evoke for you? Personally, I see joy and awe – skydiving has got to be one of the world’s most awe-inspiring activities, after all.

There’s also the empathy and happiness that being generous and giving to worthwhile causes can create for people making charitable donations.

Finding the right images for your content can take some time and patience, but it’s so worthwhile. Images not only create visual interest on your page and break up long blocks of boring text – they can also help communicate your message and convert readers to subscribers.

In fact, I believe so strongly in the power of great images and screenshots that I routinely use as many as sixty in a single post – but I always make sure they add value, as well as depict the right emotional state in my readers. This is part of my marketing mix.

7. Build a Community of Users or Customers

Over the years, Apple has built one of the most hardcore fan bases for any brand, anywhere in the world.

The “fanboys” (and “fangirls”) who camp out for new product launches may represent a small percentage of Apple consumers overall, but that kind of fanaticism and enthusiasm are rare.

Apple has created a brand personality and culture that’s cool, fun, and friendly — the opposite of some of its competitors. Apple’s marketing strategies include making customers want to belong to that community. Their market share shows just how successful they have been.

Do you remember Apple’s “Think Different” ad campaign? It started with voiceover narration that said “Here’s to the crazy ones. The misfits. The rebels. The troublemakers.” Haven’t we all felt like that at one time or another in our lives?

Apple smartly capitalized on the universality of that self-perception, which made its customers believe that the brand understands them and is like them.

Even small brands can build a community of devoted users and customers. You can start building a community before you even offer the first item for sale.

The first and most critical step to take in building a strong, vibrant and engaged community of users is to get crystal-clear on your brand values and personality.

You have to create a vivid and accurate picture of your brand in your own mind first — your brand’s core message, its deeply-held values, its personality and what it stands for above all else.

Then, your next step is to make sure that your pages, marketing copy and content all express those values and that personality. Every aspect of your website should be consistent with those words you chose to describe your brand, from graphics to fonts to color scheme.

Last, but not least, show your readers and users you value them, as well as their opinions. Let them know that you’re deeply interested in them with your content.

How can you do this effectively on the web? You can try any or all of the following tips to start with:

  • Ask open-ended questions in your content.
  • Respond to comments on your blog posts – carry on a conversation.
  • Try to initiate conversations with your users/readers on social media.
  • Create a referral reward program for customers who refer other new customers.
  • Reach out to customers with email.

Conclusion

One of the fastest ways to achieve a goal is to model those who’ve successfully achieved that same goal before.

Apple, the app store, and their retail shops are role models for any smart, modern brand that wants to create a raving fan base and super-loyal customers who will refer their friends and family members.

The idea isn’t to mimic Apple. Rather, get a sense of what Apple – or any other successful business – does well, then find creative ways to do the same in your business, always keeping the marketing mix consistent with your brand.

You can learn a lot from your competition, too. Competitor analysis can tell you what they’re doing right and what you can learn from and implement in your own marketing.

What other lessons can you draw from Apple’s marketing efforts?

How to Make Money From OTT Platforms and Video on Demand

As a business or marketing professional, when consumer habits change, you must pay attention. Perhaps nothing is changing more rapidly or drastically than how people consume video content.

To leverage this shift, you must first understand two of the most common video consumption methods: video on demand (VOD) and over-the-top (OTT). We cover both in this guide.

What Is Video on Demand (VOD)?

Video on demand (VOD) is a technology allowing viewers to watch video content when and where they want and the click of a button or tap on a touchscreen.

VOD is also popular because you can pause, rewind, or fast-forward content—and, unlike DVDs, you can easily start an episode from the moment you stopped it rather than searching through a menu.

In short, it gives viewers complete control of what they consume and how they want to consume it.

One of the most popular VOD services is Netflix, which started as a DVD mailing service and kept ahead of the game by adopting streaming early.

VOD - Netflix

What Is OTT?

Over-the-top (OTT) is a way of streaming video and film content over the internet at the user’s request.

The primary reason for this unusual name, over-the-top, is because it goes over the tops of traditional media distribution channels and distributes content directly to the consumer via an internet connection.

OTT platforms were made popular by streaming services like Amazon Prime Video, Hulu, YouTube, and more.

VOD Vs. OTT—What’s the Difference?

One of the primary differences is the medium through which video content is delivered.

  • VOD: Video on demand involves consuming any media content that isn’t played on a certain schedule or requires a physical DVD, tape, etc.
  • OTT: This is strictly streamed content, not downloaded or otherwise stored offline, and can include media like videos and online radio programs, such as podcasts.

The other big difference is VOD can’t be live content, while OTT can, as VOD by definition can’t have a set schedule involved. However, live content can later become VOD if it’s allowed to stay online for future viewing.

OTT is often VOD, but not always, and vice versa. As you may have guessed, many platforms, like YouTube, are categorized under both VOD and OTT.

Are VOD and OTT Right for Me?

If you’re willing to put in the hard work to create a high volume of quality on-demand content, you may be wondering if VOD or OTT is right for you. Bearing in mind there is overlap between the two, here are some pros of each option to help you determine which best suits your needs.

Pros of VOD

VOD enables you to deliver on-demand content to users, which is incredibly popular among consumers. As a result, you could monetize your brand faster and easier via VOD.

This method is best suited to subscription-based businesses. For example, fitness coaches can use VOD platforms to offer monthly subscriptions for on-demand fitness classes.

VOD also works well for brands wanting to leverage sponsorship deals—more on these monetization methods in a moment.

However, to make money from VOD, you must have a large, high-quality content library, so make sure you have a team able to handle this workload.

Pros of OTT

OTT’s strength lies in utilizing the internet, resulting in OTT platforms being able to offer both video-on-demand services and live streaming. This is essential for brands that rely on live events in their business model. A good example is Wanderlust TV:

VOD - Wanderlust example

If live events are part of your marketing mix, OTT is the way to go for you and your brand.

How Do I Make Money With VOD and OTT Platforms?

As a marketer, you may be wondering how to use VOD and OTT to bring in revenue. There are several ways you can profit from your video content.

Monetizing OTT Advertising

To get started with OTT advertising, you need:

  • The right technology: You can use third-party tools like Google Ads or have a custom solution developed to suit your specific OTT advertising needs.
  • An audience: OTT advertising hinges on a large audience as advertisers typically pay on a cost per mille (CPM) basis.
  • Data: Data on your audience demographics is essential to helping advertisers decide whether your platform will provide them with a healthy return on advertising spend (ROAS).

You have three options to monetize your OTT platform: video advertising networks, direct advertising, and scholarship deals.

1. Video Advertising Networks

One of the fastest ways to generate revenue from your OTT is to join a video advertising network (VAN). VANs connect you to marketers looking for ad space.

The major drawback to VANs is you lose control of the type of ads appearing on your platform—if something offensive plays, your audience may blame you. However, VANs are convenient as you don’t have to find advertisers on your own, so be sure to fully research any VAN you consider and read the fine print before signing.

2. Direct Advertising

Direct advertising allows you to take control of the kinds of ads you display on your OTT platform. To do this, you must develop a custom ad server to manage the ads you display on your platform.

Going the direct advertising route means you’ll have to find advertisers, negotiate with them directly, and set your rates. It’s a lot of work both on the business and development sides. However, you may get better returns as there’s no middleman.

3. Sponsorship Deals

Just as in the days of television, OTT sponsorship deals involve a brand paying for the right to advertise on a particular piece of content.

There are many ways to deliver your sponsored messaging. For instance, you can weave it into your content, show it as banner ads, or display it on launch screens.

An advantage of sponsorship deals is they can simplify your ad rotation because you only have to serve a few sponsoring brands. However, that can prove costly should any choose to end their sponsorship.

Monetizing VOD

Just like OTT advertising, you have three main options for monetizing VOD content: subscription video on demand (SVOD), transactional video on demand (TVOD), and ad-supported video on demand (AVOD).

1. Subscription Video on Demand (SVOD)

Subscription video on demand (SVOD) is one of the most popular ways of monetizing a VOD platform.

The SVOD model works by getting users to pay a recurring fee to access your content.

VOD - Showmax

SVOD is often one of the most profitable ways of generating a steady flow of income from your platform as long as you have content people are willing to pay for.

Luckily, research shows the estimated revenue and usage of SVOD are expected to continue growing for the foreseeable future.

With SVOD, you can create different access levels at various price points, making your VOD content available to a wider audience.

2. Transactional Video on Demand (TVOD)

Transactional video on demand (TVOD) is a monetization method allowing users to access content on a pay-per-view basis.

You have two main ways to offer TVOD to your customers, namely:

  • purchasing permanent access to a piece of content with a one-time payment, like we used to do with DVDs
  • renting a piece of content at a lower cost than the purchase but with a limited access period

According to Statista, revenue in the TVOD market is growing and expected to reach $12,150 million by 2025.

With a dollar amount like that, TVOD may be an attractive option.

3. Ad-supported Video on Demand (AVOD)

Another excellent way to monetize your VOD platform is the ad-supported video on demand (AVOD) model.

Unlike SVOD and TVOD, where users pay to view your content, the AVOD model generates revenue solely from advertisers. Your users don’t pay a dime. Because of this, such platforms tend to attract large audiences.

How does this work?

Advertisers pay to place ads in your video streams. Instead of paying to watch your content, viewers see a few ads as they stream your video content. A popular example of this is the free version of YouTube.

VOD - heat map tool

The AVOD model gives you two options:

  • signing up for video ad networks
  • direct advertising

Of course, the more viewers you have, the more likely you are to find advertisers.

What Platforms are Best for VOD and OTT?

Ready to launch your VOD services?

Not so fast.

You need a VOD hosting platform first. With so many of them available, choosing one can be a daunting task. Besides, if you don’t know what you’re doing, you may sign up for a platform that won’t meet your needs.

Here are a few platforms to consider.

1. Uscreen

One of the biggest players in the VOD hosting platform space is Uscreen. The platform is one of the most affordable, enabling even small businesses to use their services. For $49 per month, you get access to marketing tools, video hosting services, pricing control, and more.

2. Dacast

Dacast is a streaming solution offering both VOD and OTT functionality. Best suited for enterprise businesses and professional use, they provide hosting for high-quality video broadcasts and live streaming. A few of their notable features include video monetization, robust security, and API integrations. Plans start as low as $39 per month.

3. IBM Cloud Video

IBM Cloud Video offers an expansive feature set, making it easy to tailor everything to your needs. However, because it has tons of features, it can be challenging to navigate. That makes it best suited for businesses with expert broadcasters on their team. IBM Cloud Video runs at higher price points than the last two options, with their starter plan coming in at $99/month.

Of course, these aren’t the only three out there. In addition to some of the big-name platforms we’ve mentioned, others you can consider include:

Because the industry is growing fast, you can expect new players to come on the scene.

Conclusion

With the right content, audience, and monetization strategies, VOD and OTT content have the potential to grow your revenue significantly.

Are you interested in creating a VOD/OTT strategy but don’t know where to start? If so, can help. Our agency also offers services like email marketing, SEO, content marketing, and paid advertising.

Have you ever used VOD or OTT to generate revenue? If so, what was your experience?

How to Create Evergreen Content Right From the Start

Evergreen content engages and educates readers for longer without a huge amount of effort. Once you master the art of writing “timeless” content, you can ensure your articles, e-books, and tutorials stay relevant for years to come.  Below, I’m going to show you exactly why evergreen content should be part of every marketer’s content strategy, …

The post How to Create Evergreen Content Right From the Start first appeared on Online Web Store Site.

The post How to Create Evergreen Content Right From the Start appeared first on ROI Credit Builders.

Make the Benefits of Working From Home Outweigh the Disadvantages

There are some obvious benefits of working from home.  There are also some not so obvious disadvantages.  The key is make the most of the benefits of working from home and figure out how to work around the disadvantages. 

How to Ensure the Benefits of Working from Home Outweigh the Disadvantages

Many do not realize there are ways to fund your work at home business without using your personal credit.  In fact, many would consider difficulty finding funding a formidable disadvantage of working from home running a business.

The truth is, you most definitely can enjoy the benefits of working from home and not have to fund the whole endeavor using your personal credit. You can build business credit even while running a home-based business.

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

Advantages of Working from Home

What are the advantages of running your business out of your home? It’s a hard question to answer.  The problem is, what is a benefit to some is a disadvantage for others.  Some love the isolation, others miss working with people.  Production increases for some people for various reasons. Others struggle to stay focused when working from home. 

The close proximity of food is fabulous for some. You can save money and time by simply eating what is in your fridge. Others find it hard to stop eating when working from home. This makes it hard to maintain a healthy weight. Along the same lines, some find it easier to exercise working from home, while others need the commute to or from the office to encourage them to stop by the gym.

That said, one clear advantage of running your business from your house is that you save money.  Overhead costs are much lower. You save on building costs. Time and money spent commuting is almost nonexistent. Clothing costs are significantly less as well. Even so, business funding is always a necessity.

Disadvantages of Working from Home

Aside from those already mentioned above that are actually an advantage for some, there are some other clear disadvantages of working from home. First and foremost, it can be difficult to get home based business loans, or even home based business grants.  That doesn’t mean funding a home-based business is impossible. You just have to know what to do to make even a home based business  more fundable. 

How to Increase the Fundability of a Home-Based Business

The number one best way to increase the fundability of your home-based business is to talk to a business credit expert. A consultation like this can be priceless. It’s true, you can take the work from home tips about funding that we are about to offer and execute many of them yourself. However, it will take you twice as long.  Furthermore, you may very well miss something.

A business credit expert can help you assess the current fundability of your business. Then, they can walk you through the steps to help you fill in any fundability gaps. Finally, they have relationships with lenders to help ensure you get the best funding possible for your business now.

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

They not only help you start the processes necessary to ensure you are eligible for funding in the future, but also help you find the best funding for your home based business right now. 

Is Your Home Based Business Set Up to Be Fundable? 

This is likely the number one issue with the fundability of a business run out of your home.  Most home business owners set their business up as a sole proprietorship. They use their personal contact information. Typically they do not incorporate, and some do not even open a business bank account. 

This seems like the easiest, fastest way to do things.  It’s no wonder it is the standard. Still, it is probably the number one reason for the work at home disadvantage of having trouble getting funding.  Setting up as a sole proprietor can be detrimental to fundability.  For a lender to see your business as a separate, fundability entity apart from you as the owner, you need to do things differently. 

  • Separate contact information, including a business phone number and a business address that are different from your personal phone number and address.  

  • An EIN, to use in place of  your SSN on business documents and funding applications. You can get one for free from the IRS.

  • Incorporate and an LLC, S-corp, or C-corporation.  It is necessary to fundability.  Also, it lends credence to your business as one that is legitimate. Not to mention it offers some protection from liability. 
  • Open a separate business bank account. Among other things, it will help you keep track of business finances.  It will also help you keep them separate from personal finances for tax purposes. 

Best Home Based Business Loans 

Fundability, in the simplest terms, is the ability of your business to get funding.  If your business is not seen as fundable, then lenders will not help you fund it. Home based business loans will be out of the question. 

Not all loans are created equal when it comes to getting money for your home based business however.  Some work better than others. Here are some of our top picks for work from home business loans. 

Credit Line Hybrid

With the Credit Line Hybrid, you can usually get a loan of 5x the amount of your highest revolving credit limit account, up to $150,000. Honestly, this is more than what you could get on your own when applying for credit cards. Furthermore, you can get cash out on this program.

Also, there is no impact on your personal credit with this type of financing. You need a 680+ credit score, but if you don’t meet that you can take on a credit partner who does. A lot of business owners use the good credit of friends or family to help them get the funding they need. 

The best part is, not only does this not affect your personal credit score, it can help build your business credit score if your business is set up properly as mentioned above.

Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.

401K Financing

Your existing 401(k) or IRA can help fund your business as well. The funds work as collateral for business financing. As a result, your personal credit score isn’t really an issue. This program uses IRS proven strategies. You will pay no tax penalties, and you still earn interest on your 401(k).  Even better, rates are low, and this option usually has a quick closing and funding process.  

SBA 7 (a) Loan

This is the SBA’s most popular program. The SBA offers federally funded term loans up to $5 million. The funds can be used for expansion, purchasing equipment, working capital and more. Banks, credit unions, and other specialized institutions in partnership with the SBA process these loans and disburse the funds.

Credit Suite business credit experts can help you with these types of funding and more! 

Funding Doesn’t Have to Be a Disadvantage of Working from Home

Arguably, business funding is one of the greatest work from home challenges.  It can be such a challenge in fact, that it can seem to overshadow many, if not all, of the work from home benefits.  With the right expert to walk you through the process, you can be sure that at least this one challenge can be overcome, and the benefits of working from home can tip the scale.  You’ll have to keep yourself out of the refrigerator though.

The post Make the Benefits of Working From Home Outweigh the Disadvantages appeared first on Credit Suite.

How to Create Evergreen Content Right From the Start

Evergreen content engages and educates readers for longer without a huge amount of effort. Once you master the art of writing “timeless” content, you can ensure your articles, e-books, and tutorials stay relevant for years to come. 

Below, I’m going to show you exactly why evergreen content should be part of every marketer’s content strategy, and I’ll explain how to craft your own timeless pieces. 

What is Evergreen Content?

Evergreen content is content that is optimized to stay relevant and drive traffic for months or even years at a time. 

It doesn’t have an expiration date. It’s centered around a topic that people will be interested in for years to come. 

Examples of topics that might be considered evergreen include:

  • how to write a will
  • how to lose weight 
  • ways to cook chicken
  • ways to generate passive income 
  • how to optimize your site for SEO 
  • how to build a blog 

It doesn’t matter what season we’re in, or what year it is: There’s always a healthy number of people searching for content on these topics. 

Marketers tend to write about evergreen topics because it’s a relatively easy way to bring organic traffic to their website. There’s always going to be some interest in the topic, so you won’t struggle to find an audience base.  

For example, if you Google “choosing the right SEO,” you’ll find one of my articles on the first page:

evergreen content - SEO agency post example

It’s evergreen because SEO isn’t fading out of style anytime soon. Businesses will be searching for SEO advice for years to come. 

A little later, I’ll show you ways to improve your chances of holding a first-page ranking for a long time, but for now, just remember one thing: If it’s evergreen content, it persistently matters to people, and you should be writing about it.  

Here are some examples of time-sensitive content that aren’t evergreen:

  • seasonal articles e.g., Christmas gift ideas
  • announcements and news posts 
  • posts about current but temporary issues e.g., Covid-19 or a sports season

If it’s a niche topic you expect people to lose interest in overtime then it’s not evergreen, because people naturally stop thinking about it (and searching for it online). 

Here’s an easy way to remember it: 

Evergreen content is ever-relevant.

Why Is Evergreen Content Important?

OK, so that’s what evergreen content is, but why does it matter? Well, a few reasons, but here are the three most important. 

1. Evergreen Content Boosts Search Rankings

Did you know that 75 percent of people never scroll beyond the first page of search results? If you’re not on the first page, it’s unlikely people will ever find your content. 

Evergreen content helps boost your Expertise, Authoritativeness, and Trustworthiness (“E-A-T”) score on Google. The higher your E-A-T score, the more likely it is you’ll secure a first-page ranking on Google. 

How can long-lasting boost your E-A-T score? By helping position you as an authority in your industry. 

To be clear, the level of “expertise” you’ll need to secure a good score varies depending on the subject matter. 

For example, you’re more likely to rank on the first page if you’re a highly qualified doctor writing an evergreen post about weight loss than if you’re a general member of the public talking about weight loss tips. 

Why? Because Google recognizes how important it is for someone to be qualified before they offer medical advice. 

If you have expertise in your industry, you can increase your chances of a first-page ranking by producing quality evergreen content in your field.

2. Evergreen Content Draws in Organic Traffic 

Organic traffic is simply how many people visit your website after finding you on a search results page, rather than clicking through a paid ad. 

How does evergreen content help you draw traffic? Here are a few ways: 

  • It answers a question, which there’s always a healthy level of interest in, so you can assume people are regularly searching for an article just like yours. 
  • Readers are more likely to find your content, since (you guessed it) there’s a sustained level of interest. 

The result is more organic traffic landing on your website. 

3. Evergreen Content Keeps Your Business Relevant 

It’s not just about generating traffic. It’s about ensuring you create valuable, relevant content for readers—and evergreen content helps you do just that.

Here’s why: Valuable content means lower bounce rates, since people stay on your page for longer.

Since evergreen content stays relevant, you can use it to show search engine’s that readers find your articles useful, which in turn helps boost your overall search rankings.  

The best part? The more valuable content you create, the more you impress readers—and keep your brand relevant in an increasingly competitive digital space. 

7 Tips for Creating Evergreen Content Right From the Start

To be clear, not all your content needs to be evergreen. Your audience wants to know you’ve got your finger on the pulse of your industry and understands current trends that impact them. Also, sometimes, people just want their fill of short, relevant, and entertaining news articles.  

However, it’s definitely worth crafting a solid hub of timeless, enduring content to impress your audience and set yourself apart from the competition. 

With all this in mind, here are seven relatively simple ways to write your own evergreen pieces.  

1. Choose the Right Topics

First, choose topics with persistent traffic potential. 

An analytics tool like Google Analytics can help here. Briefly, here’s how to distinguish between trending and evergreen topics. 

  • Trending posts: Typically have a high initial search volume which drops fairly quickly
  • Evergreen topic posts: Attract a high volume of traffic initially, but there’s still a sustained level of traffic over time

To get started, take a look at your own site and see what topics retain a high level of traffic over time. Are there related topics you can cover? 

Then, check out leading blogs in your niche. Identify potentially evergreen topics, run them through a competitive analysis tool to see which ones get long-term traffic, and decide how you can put your own spin on the topic to add value for your own readers. 

2. Use Appropriate Keywords

Now you’ve chosen a few topics you’d like to write about, you need to use the right keywords to ensure your posts appear in the search results. 

  • Use a keyword discovery tool like Ubersuggest
  • Type a search query into Google. Take some ideas for related keywords from the “people also ask” section. 

Let’s check out an example. 

Say you want to write about weight loss. When you Google “how to lose weight,” one of the top search results is a post from Diet Doctor

Here are the two main things we can take from this sample. 

  • The first paragraph contains multiple related key phrases including “trouble losing weight” and “weight loss without hunger.” 
  • Subheadings are also optimized around popular related keywords like “weight-loss pills.” 

Return to the search results and you’ll find people also ask:

  • How do I lose weight naturally?
  • How can I lose weight fast?

This is a quick and easy process, so give it a go! 

3. Avoid Specific Events and Dates

One of the quickest ways to “date” your content, and shorten its lifespan, is by using current dates and events. Here’s why: 

  • If the date’s relevant to the context or the wider understanding of an article i.e., anything about working from home during Covid-19, it’s not evergreen.
  • People stop searching for trending or date-related topics after a certain amount of time, so they won’t find your content. 
  • If someone finds your article even just one year later, they might assume it’s outdated and they won’t click on it. 

If you must use dates, be smart about it. For example, you could turn a “2021 Guide to Digital Marketing” into the “2022 Guide to Digital Marketing”, and so on. Or, make a plan to update content with a date annually. 

In general, you’ll want to avoid using dates or referring to current news events, where possible. 

4. Create Case Studies

Case studies won’t work for everyone. It all depends on your audience and the type of business you’re running. 

However, if your audience values in-depth, analytical content, consider writing evergreen case studies. Here are a few benefits of case studies: 

  • Case studies help boost your credibility within your sector. 
  • Readers can derive true value from in-depth case studies. 
  • You can make case studies evergreen by focusing on the core issues rather than dates or anything time-specific. 

Finally, by sharing real case studies with your audience, you can boost your company’s authenticity. Since 90 percent of customers value authenticity when choosing which companies to support, I’m thinking this is a win!

5. Write In-Depth Guides and Tutorials 

When people want advice, they very often turn to guides and tutorials. Why? Because they’re comprehensive enough to answer all the questions they have about a specific topic. (Or, at least they should be!) 

In other words, guides and tutorials make for excellent evergreen content ideas.

For example, if you type “keyword research” into Google, one of the top results is my own guide to keyword research:

Evergreen content - how to optimize content

It’s a guide, and it’s part of a comprehensive, three-part series on effective keyword research. I cover a huge amount of ground, and the goal is to ensure the guide is a “one-stop-shop” for your keyword research needs.  

What’s more, tutorials and guides are a chance for you to showcase your authoritativeness and build trust in your brand. (Which, as we know, can improve your search rankings.)

6. Update Your Content Regularly 

No matter how hard you work to create evergreen content, you’ll still have to update it occasionally. Strategies change, new research and tools come out, and content becomes less fresh over time. If you want to keep your content ranking well, you’ll need to update it.  

How does this work? By updating content, you’re creating a new publication date, which gives your post an instant boost: most first-page results are published within the last few years.

Here’s a few tips for updating content:  

  • Add a little more information, or change a few stats. 
  • Freshen up the images.
  • Change any outdated details. 
  • Double-check spelling and phrasing. Could you phrase something better?   

For a more detailed guide, check out this complete guide to giving your content a facelift. 

7. Repurpose Your Content

Finally, once you’ve got a great piece of content it’s time to make it work for you. One of the best ways to make the most out of great content—and reach as wide of an audience as possible—is to repurpose content into different formats. 

Here’s a few ideas: 

  • Build an infographic to share elsewhere.
  • Repost the content and remarket it across social media. 
  • Around 85 percent of web users enjoy video content, so repurpose an evergreen article into a shareable video. 
  • Got a positive review or customer testimonial? Use it to link back to your content.

These are just a few suggestions, don’t limit yourself!

How to Maintain Your Evergreen Content Ranking

You’ve compiled your evergreen content and you’re ranking well. Great! 

Now comes the tricky part: how do you keep your first-page ranking for the months (and years) to come? Here are two suggestions. 

  1. Promote your content to ensure people can always find it on your website. Share it on social media, and consider adding fresh hashtags to increase exposure. 
  2. Link to evergreen posts on other pages across your site. Not only will this help you draw more traffic, but internal links are another simple yet highly effective way to boost SEO.

I recommend using these techniques alongside other strategies like content repurposing and refreshing to maximize your chances of maintaining a first-page ranking. 

Conclusion

Evergreen content is timeless. It never goes out of fashion. If you want to draw organic traffic, educate your audience, and position yourself as an industry authority, it needs to be part of your content marketing plan. 

Don’t just dive in, though. Identify the topics that matter to your audience, do your own research, and put a fresh spin on them. Use the right keywords to improve your chances of ranking on Google, and don’t forget to update your content whenever you feel it’s a little stale. 

What does evergreen content mean to you? 

How to Create Evergreen Content Right From the Start

Evergreen content engages and educates readers for longer without a huge amount of effort. Once you master the art of writing “timeless” content, you can ensure your articles, e-books, and tutorials stay relevant for years to come.  Below, I’m going to show you exactly why evergreen content should be part of every marketer’s content strategy, …

The post How to Create Evergreen Content Right From the Start first appeared on Online Web Store Site.

How to Create Evergreen Content Right From the Start

Evergreen content engages and educates readers for longer without a huge amount of effort. Once you master the art of writing “timeless” content, you can ensure your articles, e-books, and tutorials stay relevant for years to come.  Below, I’m going to show you exactly why evergreen content should be part of every marketer’s content strategy, …

The post How to Create Evergreen Content Right From the Start first appeared on Online Web Store Site.

The post How to Create Evergreen Content Right From the Start appeared first on ROI Credit Builders.

Business Borrowing from Your Family and Friends: Top Hacks to Make it Work

While on the surface it may seem that business borrowing from family and friends is a simple solution to a hard problem, there is actually a lot more to it. It can be tricky, and many unforeseen issues can arise. 

Make Business Borrowing From Family and Friends Work for You

There are some outside-of-the -box methods however, that allow for business borrowing from family and friends without all the drama.  These options are much better than borrowing directly from loved ones.  Of course, mixing business and family or friends will probably never be drama free, but these tips can make it a lot easier. 

Business Borrowing from Family and Friends: Angel Investors

This option does include getting funding directly from friends or family. However, it works differently than a loan. Angels tend to be a lot more informal than most types of funding. They can be people you know. They can also be people you connect with through networking or other means. Your mom, dad, brother, sister, aunt, uncle, best friend, cousin, pretty much anyone can be an angle investor!

Angels are not covered by the Securities Exchange Commission’s (SEC) standards for accredited investors. But a lot of them are accredited investors anyway.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

To become an accredited investor, a person has to have a minimal net worth of $1 million, and an annual income of $200,000.

But, they don’t have to be millionaires.  They could be friends or colleagues sitting on home equity, or local professionals who are looking to invest. Consider people you know well and people you don’t know so well. Angel investors could be people you grew up with or have done business with.

Even if you do not use friends or family as investors, finding an angel investor could convince those closest to you to help in another way.

Business Borrowing from Family and Friends: Crowdfunding

Here’s how crowdfunding works.  You market your business on a crowdfunding platform, and anyone who wants to can invest in the company.  Some platforms will even accept donations as low as $5 or $10 dollars, though most do require more.  With rewards-based crowdfunding, you get some token of thanks for your donation.  With equity-based crowdfunding, which almost always requires $500 or more, investors get an interest in the company.  

This is not a sure thing.  While there are a lot of successful crowdfunding campaigns, the majority are not able to fully fund their business through crowdfunding.  According to Startups.com, the average success rate of a campaign is 50%, and 78% of crowdfunding campaigns reach their goal.  It’s a good way to give friends and family a chance to help fund your business without them having to give a large sum of cash at one time.

Business Borrowing from Family and Friends: Kiva

Kiva is an online lender that is a little different. For example, the interest rate is 0%.  That means even though you have to pay it back, it is absolutely free money. They don’t even check your credit. However, there is one catch.  You have to get at least 5 family members or friends to give to your business. In addition, you have to pitch in a $25 loan to another business on the platform. This is another way those you love can help you fund your business without giving up a pile of cash all at once.

Business Borrowing from Family and Friends: Guarantor Loans

A guarantor loan is a loan that you get, but someone else signs on to guarantee that they will repay if you default.  It could be a business partner, a friend, or even a family member.  This is sometimes a better option for having a family member help with funding than getting funds from them directly. Still, the same caveats exist when a guarantor is using their credit to help you out. If your business fails, or you default on the loan, then your guarantor will bear the brunt of that – and they will, most likely, come after you to make up for any losses they incur.

If you have friends or family that qualify as a guarantor, they may be more willing to go this route. They can let you piggyback off their good credit without giving up any cash initially. Hopefully, they never will.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

Credit Line Hybrid

This is a type of loan that you can use a guarantor to get.  The credit line hybrid may be for you if you have a credit score over 680 or have friends or family that do and are willing to cosign. You can usually get a loan of 5x the amount of your highest revolving credit limit account, up to $150,000. Honestly, this is more than what you could get on your own when applying for credit cards. Furthermore, you can get cash out on this program.

Also, there is no impact on your personal credit with this type of financing. It will not even affect a guarantor’s personal credit.   A lot of business owners use the good credit of friends or family to help them get the funding they need.  All payments report to the business credit profile, so you can build business credit at the same time. 

Build Your Business Credit Score and Pay it Forward

Once you get the funding you need, work on building your business credit score. There are a few things you need to do to make this happen. However, once it’s done, you will have access to the funding you need, and you could be in a better position to help others rather than asking for help. 

First Steps

The first step in the process is to establish your business credit profile. You do that by setting up your business to be a fundable entity separate from you the owner. That includes having separate contact information, using an EIN rather than your personal SSN, formally incorporating, and opening a separate, dedicated business bank account. 

Once that is said and done, you can rest assured that your business accounts that are reporting will show up on your business credit report, thus causing your business credit score to climb. Not all accounts will report, but the Credit Line Hybrid does. That’s a good start.  A business credit expert at Credit Suite can guide you through finding other vendors that you qualify to get an account with that will report as well.

Check out our best webinar with its trustworthy list of seven vendors to help you build business credit.

Business Borrowing from Your Family and Friends is a Stepping Stone

It’s not a long term solution.  There are many business owners who get their start with the help of friends and family.  That’s a good thing.  It’s a great way to get the ball rolling when your own resources are limited.  

However, you don’t want business borrowing from friends and family to be your primary solution for the life of your business.  Not only will this source of funds eventually dry up, but it can also cause some major drama. 

The key to being able to fund your own business, and keep everyone else on your side, is to work toward building a business that is fundable on its own.  As you do so, you will see that your friends and family continue to cheer you on, and eventually that’s the only help you’ll need.

The post Business Borrowing from Your Family and Friends: Top Hacks to Make it Work appeared first on Credit Suite.

From Set Up to Business Start Up Loans: What You Need to Know About Starting a Business

If you are thinking about starting a business, there is a lot you need to know. Our business experts can walk you through the entire process to ensure you have the fundability you need to succeed. From how to set up your business as a fundable entity to making sure you have what lenders are … Continue reading From Set Up to Business Start Up Loans: What You Need to Know About Starting a Business