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Looking Frontend-Dev to work with React, Redux, Sass (Scss), GraphQL, Node.js, Storybook, Cypress, Webkit.
Turns out we don’t have to guess because someone’s already done the research. Fractl used IBM’s Watson Personality Insights API from 2019 to pick out the key traits and characteristics of 20 of the world’s most prominent marketing leaders (I even made the list!).
According to the study, the No. 1 trait shared by marketing leaders is adventurousness, followed by high energy levels, assertiveness, and intelligence.
One interesting thing about this is that you’d also find a lot of those traits in people with exceptional presentation skills.
To put yourself out there and present to a room full of people, you need to be at least a little adventurous. If you’re not a high-energy person, you’ll find it hard to keep people engaged. If you’re not assertive, you’ll struggle to communicate your points effectively. The list goes on.
That’s not a coincidence. To make it as a marketer, excellent presentation skills are pretty much nonnegotiable.
3 Reasons Presentation Skills Are Important in Marketing
In a way, marketing is one big presentation. When we write a blog post or appear on a podcast, we’re presenting. When we research our audience, we’re trying to understand better what they want to see and learn from our presentations.
In other words, strong presentation skills underlie pretty much every aspect of marketing. If you can deliver an incredible presentation, you can:
1. Having Good Presentation Skills Drive Trust in Your Brand
What makes people trust brands? According to a global survey from PR and marketing consultancy Edelman, it boils down to three key factors:
Product experience: The most important factor, 87 percent of respondents cited their experience with a product as a reason to trust a brand.
Customer experience: 56 percent of consumers said their own experiences with a brand play an important part in building trust.
Societal impact: 38 percent of consumers believe a brand’s impact on society is an important factor in assessing its trustworthiness.
However, an even more crucial point underpins all of this. Without strong presentation skills, potential customers aren’t going to know about any of those things!
If you don’t tout the quality of your product, or highlight your superb reviews and testimonials, or demonstrate your commitment to making the world a better place, how will anyone know whether they can trust you?
2. Presentation Skills Help Create Brand Awareness
That’s why speaking at conferences, networking meetups, and other events can be such a useful tool for building brand awareness. It puts a human face on your brand, which instantly makes you more recognizable, relatable, and memorable. That’s why for many of us, when we hear the words Apple, Microsoft, or Tesla, we immediately think of Steve Jobs, Bill Gates, or Elon Musk.
3. Use Your Presentation Skills to Drive Sales
Your presentation skills can be one of the biggest weapons in your armory when it comes to selling your product.
According to a study from Chief Marketer, live events are the second-biggest source of B2B leads, and also generate the second-highest ROI of any sales channel.
Granted, not all those respondents would have been guest speakers at those events, but to generate leads, they would have absolutely been speaking to prospects at their display stands, during networking sessions, and even while queuing to buy a hot dog or coffee. Their one-on-one presentation skills were crucial to breaking the ice with those leads.
How to Develop Your Marketing Presentation Skills
By this point, you hopefully agree with me that presentation skills are essential for modern marketers. Now, let’s take a look at how to hone those skills to meet your marketing objectives.
1. Set Goals for Developing Your Presentation Skills
If I told you to write me a blog right now, you’d likely find it pretty tough. After all, I’ve not given you any information. You don’t have a theme, or a title, or even an audience. In short, there’s no way of knowing what I’m looking for, so you can’t gauge what success looks like.
Alternatively, if I told you to write a blog about this year’s biggest trends in SEO, aimed at marketing leaders for SaaS startups, you’d have a much clearer idea of how to proceed.
The same thing is true for developing your presentation skills. Start by defining exactly what you want to achieve, such as:
becoming a better (or first-time) conference speaker
delivering more impactful training sessions
speaking more persuasively to leads
engaging potential prospects at the top of the sales funnel
honing your pitch presentations
Also, give yourself a deadline. Rather than generally building up your presentation skills, commit to improving your public speaking in time for a specific conference or networking event. Sign up as a speaker early; that way, you’re completely accountable for following through with your plans.
2. Research Your Audience
As well as simply “doing more of it,” there’s another extremely effective way to help you feel more confident about speaking in front of an audience: Do your research.
When you think about it, imposter syndrome is another big reason people shy away from public speaking. We worry we’ll be exposed as frauds and charlatans who don’t know what we’re talking about.
Thoroughly researching your audience will help guard against that feeling. When you know exactly who you’re talking to, it becomes much simpler to build an effective presentation.
If I’m speaking to a room of NASA engineers, I’m not going to tell them how to build a better rocket. I can’t tell them anything they don’t already know (and most of what I say would likely be wildly inaccurate).
However, I almost certainly know more about marketing than them. Maybe I’d tell them how, by sharing snippets of their work through their personal social profiles, they can build awareness and interest in what they do, which in turn, might persuade politicians that increased federal funding for NASA would be a real vote-winner. With that increased funding, they can go away and build better rockets.
With that in mind, before you start working on your next presentation, ask yourself the following questions about your audience:
How old are they?
Where are they from?
What jobs do they do?
Who do they work for?
How experienced are they?
What are their pain points?
The idea here is to identify the “thing” you know that’s of most value to your audience. The more you can niche down, the better. If you can’t answer some of those questions, speak to the event organizers; they should be able to help.
3. Incorporate Humor and Stories
Throughout human history, storytelling has been one of our most effective tools for influencing, inspiring, and teaching one another.
Paul Smith, author of “Lead With a Story: A Guide to Crafting Business Narratives That Captivate, Convince, and Inspire,” put it better than me when he wrote:
In any group, roughly 40 percent will be predominantly visual learners who learn best from videos, diagrams, or illustrations. Another 40 percent will be auditory, learning best through lectures and discussions. The remaining 20 percent are kinesthetic learners, who learn best by doing, experiencing, or feeling.
Storytelling has aspects that work for all three types. Visual learners appreciate the mental pictures storytelling evokes. Auditory learners focus on the words and the storyteller’s voice. Kinesthetic learners remember the emotional connections and feelings from the story.
With that in mind, another key way to improve your presentation skills is to work on your storytelling. Don’t just tell your audience how a certain tactic can get them more sales; give them specific, real-world examples that help them relate your advice to their own circumstances.
If I can get you to laugh with me, you like me better, which makes you more open to my ideas. And if I can persuade you to laugh at the particular point I make, by laughing at it you acknowledge its truth.
I’m not suggesting you go away and write a 30-minute standup set, but if you can drop a couple one-liners here and there, it can go a long way to getting your audience on your side.
4. Practice in Front of an Audience
Glossophobia, or fear of public speaking, is a common complaint. One much-quoted (and very old) Gallup survey claims it’s the second-most prevalent fear in Americans, affecting 40 percent of respondents.
Clearly, it’s not the “speaking” element that puts us on edge. It’s the idea of doing it in front of an audience. What if we make fools of ourselves, or say the wrong thing and get booed off stage?
Painful as it might sound, in my experience, the best way to overcome this is to seek out opportunities to speak in front of an audience. This can be in your professional or personal lives. It can be as simple as saying a few words at family gatherings or giving small presentations to your team at work.
Use Your Presentation Skills: 5 Tips for an Effective Marketing Presentation
You’ve set goals for improving your presentation skills, done your research, crafted a handful of engaging anecdotes, and practiced in front of an audience. Now, it’s time to weave all those things together to create a killer marketing presentation. Bear these five tips in mind while you’re doing it:
1. Start Strong
According to one study, you’ve only got 30 seconds before your audience’s attention starts to lapse. That means you need a strong start to persuade them you’re worth listening to. Lead with your most eye-catching statistic, your best joke, or your punchiest anecdote, and keep it short. On average, we speak at up to 130 words per minute, so that only gives you a maximum of 65 words to play with.
2. Make a Good First Impression
Presentation skills aren’t just about what you say. They’re also about how people perceive you.
A study at California State University, Northridge, found students followed instructions far more accurately when those instructions were given by someone who was dressed casually rather than professionally.
Why did this happen? One interpretation from the study’s authors is that the students responded better to someone dressed similarly to them:
Perhaps the participants in our study felt that they were better able to relate to the experimenter in the casual-dress condition, thereby lowering their anxiety and increasing their ability to follow directions correctly.
In short, there’s no such thing as a right or wrong way to look or dress for a presentation. Rather, we should reflect our audience.
3. Come Prepared
Don’t kid yourself it’ll “be alright on the night.” If you don’t prepare properly, it won’t!
Figure out what works best for you by running through your presentation multiple times. Do you find it easiest to work off cue cards? Do you need visual aids? Or is it better for you to run lines until you’ve memorized your presentation word for word?
4. Ask Questions
There’s no better way to guarantee people are paying attention than to ask regular questions throughout your speech!
This isn’t about putting people on the spot. Instead, it’s about turning your presentation from a one-way narrative to a two-way conversation.
Say you’re giving advice on tackling a specific problem. Ask how many people had experienced that problem, when they first noticed it, and why they’re so keen to fix it.
5. Back Your Claims
There are very few instances in which you shouldn’t be supporting your claims with real evidence. Even if you’re giving your personal opinion on a topic, those opinions should be backed with actual data from reputable sources.
If I’m telling you that Facebook is the best platform to grow your business, you likely wouldn’t just take my word for it. You’d want to hear evidence about Facebook’s audience, the effectiveness of advertising on the platform, and how much it’ll cost.
Conclusion
No one is born with incredible presentation skills; not even Steve Jobs.
Sure, some of us are more confident than others at talking to an audience and getting our points across effectively. However, it takes work; and if honing your presentation skills is taking you away from other important work, like content marketing or SEO, our agency is here to help.
The good news is the harder you work at it, the more confident you’ll feel, and the better your presentation skills will become. It’s a virtuous circle!
What tips have you used to level up your marketing presentation skills?
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The best domain registrars are affordable, easy to use, and secure.
But with thousands of options to choose from, analysis paralysis takes over. From privacy and security to configuration and DNS management, it’s understandable to feel confused or unsure.
However, there’s good news. I’ve used countless domain registrars over the course of my online career and I’ve narrowed things down to my top five recommendations.
As long as you choose one of these registrars, you’ll be in good hands.
In this article, I cover how to choose the best domain registrar, the different places to get a domain, and the only companies I highly recommend to anyone interested in creating a new website for their business.
Deciding on a domain registrar can feel impossible, especially with so many options to choose from.
But knowing what to look for helps narrow things down.
And while I stand behind each of my top recommendations, I want to share the criteria I considered when making this list. Feel free to use it as you go through the process of deciding which domain registrar is right for you.
Registration period and renewal rates
Most domain registrars offer promotional pricing for your initial contract term. Some limit your initial contract term to one or two years, while others may give you five to ten years.
So if you’re looking to save money, your best bet is opting for the longest registration period available. This is also a great way to ensure no one else can buy it, since you don’t have to remember to renew it every year.
Domain.com offers a five-year registration period, so I highly recommend it. However, Namecheap offers ten years, so it’s also a great option.
Number of domains
It’s common for large and small companies alike to buy multiple domain names, including:
Common misspellings of their original name
Various domain extensions
And similar domain names
Why? To make sure no one else can buy a similar name or intentional misspelling to steal their traffic. It also ensures your website is easy to find, even if someone doesn’t know how to spell it or what extension you’re using.
And while it’s a good idea, it’s not necessary, especially if you’re just starting out.
If you’re interested in buying 50+ domains, NameSilo is your best option. However, if you need less than that (or just one), Domain.com is my #1 recommendation.
Furthermore, if you need web hosting as well, Bluehost offers one domain name free for the first year. So, this is an excellent option if you need a single domain name and web hosting for a new website.
Domain management
Domain names may feel like a “set it and forget it” type of thing. But in reality, they aren’t. They require ongoing management including renewals, security, and accessibility.
Different domain registrars may handle domain management differently, so it’s crucial to understand how things work with the company you choose.
For example, most registrars offer auto renew services, meaning you don’t have to manually renew your domain registration every year.
This is essential for keeping your website accessible, even during your renewal period.
Alternatively, you may need to terminate your domain. So, you need to understand the guidelines for doing so with the domain registrar you choose.
Furthermore, you may have to manually connect your domain or verify different services using DNS management (it’s a lot easier than it sounds). So make sure the domain registrar you choose gives you unlimited access to your DNS records.
WHOIS privacy
Domain name registration involves providing your personal details to the domain registrar. However, doing so means your information is now part of the public record.
But the good news is it doesn’t have to be, thanks to WHOIS protection.
This is a privacy service that masks private information, like your email, address, phone number, and more. So, it’s not accessible to scammers, hackers, or anyone looking for your information online.
Some registrars charge for this service, while others offer it for free.
But I highly recommend you use it, regardless of the registrar you choose.
Unless you’re registering your domain with your company’s address, phone number, etc. This information is already public so it won’t hurt to have it attached to your domain.
Note: Domain.com charges $8.99/year and Bluehost charges $11.88/year for this. But Namecheap, NameSilo, and Google Domains offer privacy for free.
Domain transfers
If you want to change domain registrars in the future, you have to do a domain transfer. Some registrars make this free and easy, while others charge for it.
So, make sure you read through your registrar’s transfer policy before making any final decisions. It’s important to choose a company you can count on, even when you’re transferring to a different service.
Otherwise, the transfer can cause unwanted downtime or accessibility issues for your website.
Domain name extensions
While .com is the most common domain extension, there are others including .org, .net, .co, .tech, and more. Plus, there are also country specific extensions, too.
If you want a .com, you’re safe choosing any of the registrars on this list.
However, if you’re looking for a different extension, you need to search around to find a registrar that offers what you want.
The different types of domain registrars
There are several different places you can buy a domain name. However, I highly recommend going through a domain registrar or with your web hosting provider.
Domain registrars
Domain registrars handle the tech side of assigning IP addresses to domain names and reserving domain names as well. With that said, you’re in charge of managing and maintaining your domain name after you purchase it from the domain registrar.
Bundled with web hosting
If you need web hosting, you can get a free domain name from Bluehost for the first year.
Resellers
Domain resellers are exactly what they sound like. They resell domain names in partnership with domain registrars, but resellers typically charge extra so they can make money, too. Furthermore, they usually don’t have dedicated support.
This is why I don’t recommend buying through a reseller.
All of the recommendations on this list are domain registrars or web hosting companies.
#1 – Bluehost — The best for bundling with web hosting
Bluehost is my #1 web hosting recommendation. And you also get a free domain name for the first year when you bundle the two together.
So, if you’re starting a brand new website, Bluehost is an excellent choice.
However, if you want to buy more than one domain name, I highly recommend using a domain registrar, like NameSilo, instead. Bluehost domains are more expensive than other options on this list so it only makes sense if you need one domain with web hosting, as well.
All domain registrations come with standard features, including:
Intuitive domain management dashboard
Free SSL certificate
Auto renewals
Domain locking
Complete DNS control
24/7 expert support
Self-service knowledge base
After the first year, your .com domain name renews at $12.99 per year. And you have to pay an additional $11.99 per year ($0.99 per month) to mask your private information.
Bluehost also offers a Microsoft 365 upsell, but you can skip this and purchase it separately if you end up needing it later on.
#2 – Domain.com — The best for long-term registrations
Domain.com powers more than 1.2 million websites around the world. With a beginner-friendly interface, and the ability to buy as many domain names as you want, it’s my #1 recommendation.
It’s also great for long-term registrations because you can register your domain for up to five years at a time.
This means you don’t have to worry about renewing it every year and you can pay for everything in advance (no annual payments).
Every domain comes with:
Transfer Lock Security – TLS
A free SSL certificate
Email and URL forwarding
Complete DNS control
24/7/365 customer support
An extensive knowledge base
Furthermore, Domain.com is extremely affordable. You can expect to pay $9.99 per year for .com domains for your initial contract period. And they renew at $13.99 per year after that.
However, keep in mind you have to pay an extra $8.99/year for privacy and protection.
Domain.com also offers several upsells throughout the process including G Suite and web hosting. But you can skip these and buy them separately if you end up needing them.
Although price is a small factor, if you’re looking for the most affordable domain registrar for a single domain, you should choose Namecheap.
They’re a reputable domain registrar currently managing more than 10 million domain names.
Plus, their straightforward and intuitive interface makes buying a domain name a breeze. It takes less than a few minutes and you don’t have to worry about countless upsells or distractions.
With that said, there are a few upsells you can skip, including web hosting, private email, G Suite, and EasyWP. You don’t need any of these from your domain registrar.
You can (and should) buy these separately if you end up needing them down the road.
However, every domain registration includes:
Free privacy protection
Domain name security
24/7 live chat support
Extensive knowledge base
Full DNS access
Prices start at $8.88 per year for .com domains. Plus, you get free privacy protection and you can register for up to ten years in advance. This is an excellent way to save a few dollars and avoid the hassle of renewing every year.
Keep in mind that your domain name renews at $12.98 per year after your initial contract.
If you’re interested in buying numerous domain names to cover similar names, common misspellings, or alternative extensions, NameSilo is the best choice.
They offer bulk order discounts if you buy more than 50 domains in a single order.
However, if you need a single domain name (or fewer than ten), I recommend going with Domain.com instead. It’s a bit more expensive but it’s easier to use.
Every domain you purchase automatically comes with:
Free privacy protection for life
DNS management tools
Email and domain forwarding
Domain defender protection
Locking/unlocking capability
Monetized parking page
24/7 customer support
For 1 – 49 domain names, each .com is $8.99 per year ($0.10 more than Namecheap). However, that price stays the same when it’s time for renewal, rather than jumping up a few dollars more per year.
For 50 – 100 names, each one is $8.89 per year. With steeper discounts at higher volumes. So, the more you buy, the more money you can save.
And these discounted rates apply at renewal time as long as you have the same number of active domains in your account.
Lastly, don’t forget to say “yes” to WHOIS privacy protection at checkout.
If you’re familiar with the Google interface, Google Domains is comfortable and familiar.
Plus, they also make it a breeze to integrate your domain with other Google tools, like G Suite, Google Analytics, and Google Search Console.
Furthermore, Google Domains is a smart choice if you only need 1 – 10 domain names and appreciate the simplicity of the Google platform. However, if you need more than that, there are cheaper alternatives for buying domain names in bulk (like NameSilo).
With absolutely no upsells, it’s hard to beat the streamlined checkout process.
And every domain name includes:
Free privacy protection (unlike Domain.com and Bluehost)
Email forwarding services
Easy access to add-on services
Domain sharing
2-step verification
Cloud DNS
DNS exporting
24/7 customer support
At $12.99 per year, Google domains is affordable and inline with the other domain registrars on this list. However, you get privacy protection for free as an added value.
Summary
At the end of the day, the registrar you choose doesn’t really matter (as long as you go with one of these recommendations). What’s important iis getting the domain name and extension you want at a reasonable price with the protection and security you need.
With that said, Domain.com is great for most users and Bluehost offers a free domain for the first year if you need web hosting services as well.
However, both charge extra for privacy protection.
On the other hand, NameSilo, Google Domains, and Namecheap offer this protection for free.
NameSilo is excellent if you need hundreds of domains. Google Domains makes sense if you’re comfortable with the Google interface (and sharing more info with Google). And Namecheap is the most affordable registrar for .com domains.
So, regardless of what you need, your new domain name is just a few clicks away.
Which domain registrars have you tried in the past? And how was your experience?
Hello HNers! A couple of years ago I felt encouraged by these job listings to pursue my career goals of relocating to a tech hub to work with cutting-edge tech. Now I’m glad to come back to this thread, this time from the opposite side – we’re hiring!
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Experian does more than just credit scores. They also provide a background check service. Not just for you personally either. They have 2 different business background check reports they can provide. Many people are scared of what it on their background check because it can make or break your chance at funding. It is vital that you know what type of information lenders are seeing when they run an Experian background check on your business.
An Experian Background Check on Your Business May Contain More than You Expect
There are two different Experian background check reports for businesses. Experian refers to it as tenant screening. They offer this for individuals as well as businesses. The two different reports are the Business Profile Plus Report and the Business Credit Score Report. Before we get into the detail of each of these however, you need to understand the Experian business credit scoring process. Your business credit score affects each of these reports.
The Intelliscore Plus credit score is a credit-risk evaluation based on statistics. The goal is to help those offering funding make decisions about whether or not your business is a good investment.
It’s similar to how lenders use your personal credit score. Before they decide to lend money to you, they check your credit score. The Intelliscore Plus can provide an idea of the credit risk associated with a specific business.
Intelliscore Plus Credit Score Range
The scores range from 1 to 100. The higher your score, the lower your risk class. Alternatively, the lower your score, the higher your risk class. The chart below describes each range and what it means to lenders.
Score Range Risk Class
76 — 100 Low
51 — 752 Low — Medium
26 — 503 Medium
11 — 254 High — Medium
1 — 105 High
How Is an Intelliscore Plus Credit Score Calculated?
In the credit world, Intelliscore Plus is one of the best tools for predicting risk. One reason is that they identify key factors that show how likely a business is to pay their debt.
There are over 800 of these factors. However, they can all fit into the following general categories.
Payment History
Not surprisingly, this is how well you are making payments. It includes the number of times your accounts become delinquent. It also shows the percent of accounts that are currently late. Your overall trade balance is listed too.
Frequency
Frequency refers to the amount of times your accounts have been sent to collections. It includes the number of liens and judgments you may have. Any bankruptcies related to your business or personal accounts also show up here.
In addition, frequency has to do with your payment patterns. Were you regularly slow or late with payment? Did you start off paying bills late but get better over time?
Financial
This specific factor focuses on how you use credit. For example, how much of your available credit is currently in use? Do you have a high ratio of delinquent balances in relation to your credit limits?
If you are about to start a business or are somewhat new to this game, the list above may seem a bit overwhelming. If your business is not yet in operation or you do not have a long history of business transactions, how will they rate you?
In this case, a blended model is used to establish your score. That means they consider your personal consumer credit score with your business’s credit score.
When it comes to a business Experian background check, there are two different options. They each contain similar information. One is just more detailed than the other. As a result, there is a slight price difference between the two reports as well.
Business Credit Score Report
According to Experina, this contains summary information on the following:
Business Address, Key Personnel, Sales, Total Employees and SIC Code/Description
Credit Ranking and Key Score Factors
Payment Summary
Collection, Tax Lien and Judgment Filings
This report costs $39.95.
Business Profile Plus Report
This is the more detailed version of the Business Credit Score report. It includes detailed information on the following:
Business Address, Key Personnel, Sales, Total Employees and SIC Code/Description
Credit Ranking and Key Score Factors
Trade Payment Detail and Trends
Inquiries
Collection, Tax Lien, Judgment and UCC Filings
This report costs $49.95.
Surprising to many is the fact that so much more than credit history is included in the Experian background check. Of course, often there is no background check when simply applying for a business loan. The thing is, Experian offers reports that contain similar information to lenders as well as potential landlords. Basically, they are providing a more complete picture of overall fundability. Of course, that is affected by much more than the business credit score.
Other Experian Reports
In addition to the reports offered with the Experian Background check, Experian offers a number of other products. These include reports designed to help you as the owner monitor your business credit.
Business Credit Advantage Plan
This one is currently $149 monthly and contains mobile-friendly alerts and score improvement tips.
Profile Plus Report
This report is currently priced at $49.95. It features comprehensive financial payment data and predictive information on payment behavior.
Credit Score Report
This is the least expensive of the reports, currently priced at $39.95. Basically, it includes comprehensive business and credit information. Also, there is a summary of financial payment data.
Valuation Report
This report sells for $99 right now. It shows the value of your company and contains Key Performance Indicators. Additionally, it shows your business’s fair market value.
Premium Corporate Profiles
Experian also furnishes premium corporate profiles at an additional cost. The enhanced profiles contain even more detail including:
This is in addition to the data supplied in their basic corporate profiles. They also have information on credit inquiries made in the past nine months.
Keep an Eye on What Experian Has on Your Business with Credit Alerts
Not surprisingly, you can subscribe to business credit alerts. Experian’s Business Credit Advantage program serves as a self-monitoring service. You get unlimited access to your business’s business credit report and score. You can make use of this tool for proactively handling your business credit. Alerts are sent for:
Company address changes
Changes in your business credit score
Credit inquiries on your business profile
Newly-opened credit tradelines
Any USS filings
Collection filings and
Any public record filings, for example, liens, bankruptcies, and judgments
By taking advantage of this, you can always be ahead of the game. Then, you won’t have to be surprised by what your Experian background check turns up.
What if There is a Problem with your Experian Background Check?
Experian Reporting and Scores
While there are many problems that could potentially pop up, the business credit score issue is one of the most common. It is possible to improve it however. Here’s how.
Make On-Time Payments Consistently
Paying your bills on time will help establish your small business as one that meets financial obligations. This will eventually help push your score up. As a result, lenders will view your business as low risk.
Use the Credit
Keep your debt low. That’s good advice. Still, opening business credit accounts can help raise your credit score. The key is to use all credit responsibly.
Keep Your Personal Credit in Check
By now, you’re aware that your personal credit is fair game when it comes to your Intelliscore Plus score. Running a business is hard work. However, don’t let your personal finances suffer. See to it you stay on top of your personal debt. Steer clear of credit checks that are not necessary. Basically, do not compromise your personal credit for business needs.
Your Experian Background Check and Fundability
Many of the factors that show up on your Experian background check reports are fundability factors. There are fundability factors that will not show up directly on these reports. However, some will still affect your report indirectly. Others are outside of the reports all together. You need to know what they are and understand how they can affect your ability to get funding.
Factors that Affect Fundability
Here are a few things you need to keep on your radar when it comes to your Experian background check and managing fundability.
Other Business Data Agencies
There are other agencies that collect business information. The information these businesses have can indirectly affect reports from business credit agencies. Two examples of this are LexisNexis and The Small Business Finance Exchange. These two agencies gather data from different sources. Those sources include public records. That means they could have access to information relating to automobile accidents and liens. You may not be able to access or change the data these agencies have on your business. However, you can ensure that any new information they receive is positive. Enough positive information can help distract attention from negative information.
Business Information
On the surface, it seems obvious that all of your business information should be the same across the board. However, when you start changing things up, like adding a business phone number and address or incorporating, you may find that some things slip through the cracks.
This is a problem because of fraud concerns. When business information doesn’t match up, it sets off alarms. Maybe your business licenses have your personal address but now you have a business address. You have to change it. Perhaps some of your credit accounts have a slightly different name or a different phone number listed than what is on your loan application. Do your insurances all have the same information?
The key to this piece of the business fundability is to monitor your reports frequently.
Financial Statements
Both your personal and business tax returns need to be in order. Not only that, but you need to be paying your taxes, both business and personal.
It is best to have an accounting professional prepare regular financial statements for your business. Having an accountant’s name on financial statements lends to the legitimacy of your business. If you cannot afford this monthly or quarterly, at least have professional statements prepared annually. Then, they are ready whenever you need to apply for a loan.
Often tax returns for the previous three years will suffice for personal financials. Get a tax professional to prepare them. This is the bare minimum you will need. Lenders may also ask to see check stubs and bank statements.
Bureaus
There are several other agencies that hold information related to your personal finances that you need to know about. For example, many business owners do not realize that their ChexSystems report can affect fundability. In the simplest terms, this details any bad check activity. It makes a difference when it comes to your bank score. If you have too many bad checks, you will not be able to open a bank account.
Everything can come back to bite you. Have you ever been convicted of a crime? Do you have a bankruptcy or short sell on your record? How about liens or UCC filings? All of this can and will affect your Experian background check and the fundability of your business.
Personal Credit History
Your personal credit score from Experian, Equifax, and Transunion all matter. You have to have your personal credit in order because it will definitely affect the fundability of your business. If it isn’t great right now, get to work on it. The number one way to get a strong personal credit score or improve a weak one is to make payments on time, consistently.
Also, make sure you monitor your personal credit regularly to ensure mistakes are corrected and that there are no fraudulent accounts being reported.
The Application Process
Sometimes your ability to get funding doesn’t have as much to do with your credit. Sometimes it has more to do with your timing and application. First, consider the timing of the application. Is your business fundable right now? If not, do some work to increase fundability.
Next, make sure that your business name, business address, and ownership status are all verifiable. Lenders will check. Lastly, make sure you choose the right lending product for your business and your needs. Do you need a traditional loan or a line of credit? Would a working capital loan or expansion loan work best for your needs? Choosing the right product to apply for can make all the difference.
Watch Your Back
When it comes to your business, you have to watch your back. Everything you do can affect your ability to get funds, even if it is on your personal credit. However, the more your business builds strong fundability of its own, the easier the process will be despite your personal finances. Watch your back. Make payments. Make sure all your information is consistent across the board. What do you need to know about your Experian background check? It probably says more than you think. However, if you follow our suggestions, it is more likely to help you than hurt you.
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