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3 Tips for a More Successful Small Business

No matter the amount of time you’ve had your small business, it is important to do all you can to make it successful. That being the case; have you been…

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No matter the amount of time you’ve had your small business, it is important to do all you can to make it successful.

That being the case; have you been taking all the necessary steps to be successful and stay there? If not, you could be putting your business and your own financial well-being in danger.

So, is it time you had a more successful small business in your hands?

Always Know Your Money Situation

As you look at ways to make your small business more successful, keep these tips in mind:

1. Your money – Making sure your business is healthy is something you always need to focus on. That said there may be times where your business is in the red. Even if only for a short period of time, it should be of concern to you. With this in mind, do all you can to keep your finances in order. You may be at a point now where you need a little financial infusion. One way to go about this would be applying for a small business line of credit. If you gain approval for such a line of credit, it can help you in some different ways. From new equipment or expanding your office space to hiring more help, having that line of credit is a plus. Speaking of your money, are you in over your head with debt? If so, do all you can to lower it. The most common form of such debt is credit card issues. Remember, the interest fees alone when not paying off your monthly balance can hurt you. Do all you can to stay in the black with your finances and avoid prolonged visits to the red.

2. Your message – It is important that you have a clear and winning message as it pertains to your business. That said is your message resonating with enough consumers? If the answer is no, it can mean you fall further behind competitors. It makes sense to review your marketing messages on occasion. You may need to tweak it here and there. For some, it can mean a complete overhaul to a different message. As part of getting your message out there, know your targeted audience in the first place. Doing things blindly is not a smart way to go about it. By doing some surveys and getting feedback, you have a better notion of who it is you want to market to in the first place.

3. Your reach – Last, how you go about reaching out to customers are quite important too. That said are you doing enough online and offline to reel in more business? What about the business you have now? Do you do enough to keep people coming back? Always make it a priority to reach out to consumers on a regular basis. From social media to face-to-face encounters, let consumers know you care about them.

As you look for ways to make your small business more successful, many of them boil down to commonsense.

So, how successful can you be when it comes to running your small business?

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Typical Qualifications for Business Loan Approval

Whether you are preparing for an expansion, need new equipment, or are looking to do additional market research, taking out a business loan is always an excellent option to finance…

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Whether you are preparing for an expansion, need new equipment, or are looking to do additional market research, taking out a business loan is always an excellent option to finance important business decisions. If you are looking to take out a business loan for the first time, the process may seem intimidating. You might want to conduct some research to understand whether you will be approved. Doing your homework will save you precious time and headache when applying for your loan. Listed below are a couple of important factors that your lender will evaluate before deciding whether to extend an offer.

Age of your business

This may seem obvious, but businesses that have been around for a few years usually have their situations under control. There is less risk involved in such a business. It’s no surprise, then, that most lenders require businesses to be in operation for longer than a year before they’ll agree to lend them money. A small business loan is much easier to get the longer you’ve been in business. While this might sound unfair for startup ventures, who need funding more than anyone, it’s a practical and responsible business decision on the part of lenders to minimize risk, and few things are riskier than a newly opened business with no track record.

Credit score

This is one of the biggest factors in applying for any loan. In the case of business loans, you are actually likely to be evaluated on both your business credit and your own personal credit. Most lenders require a score of 650 for an owner’s personal credit score before issuing out a loan. If your business has been established, prepare a credit report and be prepared to show your financial records. Also, ironically, sometimes a business having too much credit can be viewed in a negative light. The lenders may view that you have run out of money and are now relying on credit to cover yourself.

Your intent for the funds

Banks want to know how you plan to spend their money. In some industries, it may be difficult or complicated to explain to a loan officer the importance of certain business expenses. Before you go in for a meeting, you can put together a small presentation to show the exact value of the business loan and how it will allow you the opportunity to pay it back quickly. This will show initiative and understanding of the financial market. Anyone who looks like they know what they are doing will have an added bonus in the eyes of the finance officer.

Your financials

Lenders will often examine all aspects of your business to be sure that they will recover their investment. They will usually have an annual revenue requirement that can range from $50,000 to several million. They will also look at your net operating income. This may vary from lender to lender, but some require a total operating income that is at least 1.25x greater than your net expenses. As previously mentioned, your debt-to-credit ratio will also be under review. Too much of a swing in either direction could be viewed negatively.

Collateral

As with any loan, the ability to offer collateral may help sway a loan officer. Collateral can include some of your equipment, your inventory, and your real estate. If you do not choose to use collateral, you may need to explore other loan options for your business.

The reasons for getting a business loan are plentiful. The qualifications for getting approved for one, however, are more limited. Fortunately for companies within the wheelhouse of business lenders, getting approved is a simple matter of putting the pieces together and sending them off.

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Top ways to create a powerful investment portfolio

If you are thinking of investing some of your spare money, then you would not be alone. The 60 major global stock markets are worth a staggering $69tn between them….

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If you are thinking of investing some of your spare money, then you would not be alone. The 60 major global stock markets are worth a staggering $69tn between them. They see a high volume of trade each day from people investing their money into shares. When you factor in the other major financial markets that are open to trade on, such as the foreign exchange market, it is clear that investing is something that a lot of people do now.

Before you jump in though, you need to know the key factors that will help you succeed. Chief among these is how to build a powerful investment portfolio that is structured to handle what the markets may throw at it.

How to build a powerful investment portfolio

If you need a few tips on building a robust portfolio, then the below advice should help:

  • Set clear goals – whatever individual assets you have in your portfolio, you need to have clear objectives around them. You should always know how you expect each investment to perform, what the risks are, and when it is time to get out. This will protect your portfolio over time and make it easier to track if everything is working as planned.
  • Do not overpay – price is one key thing to understand when building up a strong portfolio. One thing to really think about is the price at which you buy any stocks or shares. If you overpay, then even a well-performing stock will not provide the returns that it should. Always try to buy stocks that give value as well as future returns.
  • Diversify – a great tip from the investment professionals is that you should always have a mixture of assets in different sectors. This protects your whole portfolio and makes it more powerful to stand up to any one investment tanking. You are in effect not making the mistake of putting all your eggs in one basket.
  • Choose your sectors wisely – when thinking of what individual assets or stocks to put into your diverse portfolio, you should do your research. This should not only be into the individual company that you may invest in but also what overall sectors are doing well or about to explode. Technology, for example, is a hot sector now, and this kind of thinking will help you build a strong portfolio.

Keeping up with news is essential

The real power behind a successful portfolio is having access to the latest news and figures. This will help you take action if needed on your investments and always be up to date with what is happening in the markets. Most investors will do this on a daily basis but also with a more long-term weekly approach for the week coming. For everything you need to know about stocks this week, the internet has all the latest stories to check out.

Make your portfolio truly powerful

Many people will trade but not all will trade successfully. Make sure that you do win out in the long term by building a powerful portfolio that is strong enough to ride any market fluctuations. By doing this, you are giving yourself the best chance of trading success overall.

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How many trades do you really need to execute per month?

Have you ever assessed your trading performance? Do you really know the number of trades executed by you per month? Most probably the answer is NO. Majority of the novice…

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Have you ever assessed your trading performance? Do you really know the number of trades executed by you per month? Most probably the answer is NO. Majority of the novice traders are biased with the profit factors of the market. They are always trying hard to maximize their profit factor to earn more money. On the contrary, the experienced traders never overtrade the market. They are more concern about their investment. Even if you find 3- 5 good trades per month, it’s enough to secure your whole month earning. You can easily lead your dream life by following this simple principle.

So how many trades do we need to lead our lives? If we say four trades per month is enough to bring change to your life what would you say. In reality, four quality trade execution is enough to establish your presence in the professional trading network. In this article, we will tell the exact way to make money by focusing on the quality trades.

As a currency trader, you need to eliminate the noise from your life. Majority of the traders are frustrated with their trading performance. They simply forget the basic rules of investment, quality matter over quantity. The professional traders don’t trade all day long to ensure a high standard of living. Neither have they had a super accurate trading strategy. They are simply using the probability theory and trading the market with high-risk reward ratio. Even if you trade with 1:2 risk reward ratio, you can easily make a profit with 60% win rate. But sadly the new traders close their profitable trades too early. But when it comes to losing trades, they make their loss much bigger than expected. They simply trade the market with hope and emotions. But emotions have no place in spread betting industry.

Advanced technique

You need to know the advanced use of spread betting platforms. Those who consider trading as their full-time profession knows the perfect way to use their trading tools. They don’t sit in front of their screen all day long to find the best trades. On the contrary, the novice traders seem to guard the market. But if they knew about the pending features of the market, they could have easily made a huge profit. In order to ensure decent curve of your equity curve, you must use the technology in a very precise way.

Let’s say you have executed 4 trades in a month. Out of 4 trade, two of them are losers. You followed 1:2 risk reward ratio in each trade. For every loser, you lost 2% of your trading capital. So for the two losing trades, your account is down by 4%. But for every winner, your gain was 4%. So for the two winning trades, you secured 8% gain. So if we calculate the gross profit, you will still make 4% profit on that month even after losing two trades. This simple formula can help you to master the art of spread betting.

Trade management

Trade management skill is the most important thing you need to know as a currency trader. Those who are relatively new to the trading profession, don’t know the perfect way to manage their losing trades. They are always trying to recover their initial investment by increasing the risk size. On the contrary, the experienced traders don’t have any emotional attachment to the outcome of their trade. They know very well, their trading strategy works in the long run. You have to stick to your trading system to make consistent profit from this market. Being new to this industry doesn’t mean you will have to lose money like the 95% of the traders. If you can understand the language of the market and trade with managed risk, you are going to become a profitable trader within a very short period of time.

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