Line Of Credit

Be fair, attentive, and customers
will return.

First, don't panic. Make an appointment
to talk to the person, institution, you
obtained the loan from.

It's possible your line of credit will
not be reduced or taken. Give
yourself piece of mind by contacting
the loan institution.

The credit trouble, in the news, is
pointing to short-term loans big
companies make to one another,
and the rate they pay to borrow
from each other.

If, for some reason, your line
of credit is reduced, taken, make
sure you're not dependent on
one bank, or one credit card.

It's best to have several lines
of credit from various banks.
This, at least, gives you a
better chance at survival.

It's possible your regular
banking institution may
reduce, take back, your
line of credit. If it happens to
you, think outside the box.

Don't let your dream, business,
fade away.

An alternative is to barter with
suppliers. Trade products or
services for supplies. Put the
terms of the bartering agreement
in writing. A written document
spelling out the agreement avoids
future misunderstandings. It will
save relationships, friendships.

Have an informal party for friends
and family. Explain what you're
during with a product or service.
Ask for investors.

In return, one investor asks
that you train his/her son or
daughter in a particular area.
Or, point to the fact that
he/she will get a return on
investing with you, and that's
better than taking a chance
on investing in the market.

When your line of credit is
taken or reduced, cut back on
spending. Out-dated, pass its
usefulness, equipment must be
removed. Employees not making
the quota should be moved to
another area, or terminated.

If John, for example, isn't
doing well in customer service,
move him to shipping.

John is a problem in shipping too.
You have no choice, but to remove
him to the door.

Still, there are businesses doing
well. Even so, be mindful of how
your line of credit is used.

No one knows which bank, lending
institution, will reduce a line
of credit, or take it back.

In closing, always contact your
loan officer with concerns about
your line of credit. Make it a
practice to have credit lines
from different institutions. It
keeps you afloat if one bank goes
under.

Bartering is a way to meet the
economic down-turn.

Rid yourself, your company, of
equipment or people missing the
mark, and stop all unnecessary
spending.

The Bail-Out

Be fair, attentive, and customers
will return.

No one wants to turn-over
hard earned money to help Wall
Street. It's annoying, and
angers many.

"Would my business be
bailed-out if it failed?" A
few asked.

I doubt that the government
would rush in to aid your
failing small business. There
is a process by which you'd apply
for a loan, aid.

In fairness, the failure of a
lone business wouldn't negatively
impact the financial system.
Or, the affects wouldn't knot
our cash flow.

The bailout is necessary
to allow you an opportunity to
borrow funds. The bailout stops
Wall Street's problem(s) from
reaching your street and mine.

In a stable economy, it's
easier to get credit, and keep
the amount, terms, originally
assigned.

Some small business owners
have complained that their
credit line was reduced, terms
changed.

The bailout gives some
opportunities back. You can
save for retirement without
worrying if the bank will close.

America's children, with the
bailout, have a better chance
of getting needed funds for
college.

People agree that a bailout
plan is necessary, but haggle
over specific points.

For the small business owner,
cut-back where you can. Phrase-
out free morning donuts and
coffee. Cut cost anywhere,
everywhere, possible.

Maximize the use of employees
and equipment. If, for example,
a department isn't using Employee
E, send him/her to the next area.

The positive effects of the new
bailout plan takes time to see,
and feel.

Beware: Loan

Be fair, attentive, and customers
will return.

There are many reasons people
apply for a loan. Beware of the
interest rate circling its waters.

The loan comes with a big interest
tag. Do some research on interest.
Find out how to get a bargain rate,
or a rate that's comfortable for you.

Ask yourself this question, and
think about it carefully.

Is this the right time to apply for
a loan?

If yes, don't allow yourself to be
pushed into borrowing money you
don't want, or will have trouble
paying back.

When it (an offer) appears too
good to be true, depart in the
opposite direction.

Search high and low for the best
quote. Yes, contact many
companies. You decide what
best suits your needs.

"This is the best deal you'll
get." A company representative
said.

Don't believe it. Instead, contact
other companies, and see for
yourself.

Remember, a loan effects your
life, and credit rating. Your credit
rating determines if you'll get some
jobs, apartments, just about
everything. So, it's best to take
your time, and find the perfect fit.

Be slow to expose your need for
the loan. Talk about the interest
rate, other details pertaining to
it.

No, I'm not saying mislead anyone.
Your financial information shouldn't
be the topic of conversation,
initially.

"Why?" You look concerned.

It weakens your position.

Your income is discussed
during the process. Once you
have agreed to the loan, the
topic comes up.

Have a clear understanding of
what the contract says.

Take time to read it.
Ask questions.

It's an exciting time.
Still, read the fine print.

There is no such thing as a
stupid question.

Avoid signing a half filled in
document, or one that is
blank. Make sure the contract
has the terms that were
discussed, and/or agreed on.


In summary, apply for a loan if
you have made the decision to
do so. Don't be pushed into it.
Take your time when looking
for the right institution to
address your needs. Don't
reveal too much before
knowing details of the loan.
Never sign a blank, half-filled in
contract. Make sure the document
has the agreed on terms listed.

Partnerships

Be fair, attentive, and customers
will return.

A business partnership is
when two or more owners
share in the profits and
losses.

This post refers to people,
two or more, owning a
business. They share in
the profits and losses of
that business. I'm referring
to general partnerships.

General partnerships
allow each partner to give
his/her opinion, advice,
and have a hand in its
operation.

General partnerships are
easier to manage. This
form of partnership means
the business is not a
corporation.

It is important for
everyone to agree on
the business' direction,
or its plight.

If, for example, one of
the partners is in the
planning stages of
building a second store,
but another prefers a
bigger pay-check,
what happens? The
confusion destroys working
relationships, and your
business.

Each partner is assigned an
area. Partner A over-sees
hiring, Partner B takes care
of the books, etc.

A plan to open other stores
requires careful thought.
Why open other stores?
When? Five years?

An agreement documents
everything. Is the partnership
fifty-fifty, eighty-twenty, or
fifty-forty, and ten to an
outside person, group?

I advise against any oral
agreements. Time, issues,
will erase memory, and/or
provide selective memory.

Keep a strong business
by putting everything in
writing. Have the partners
sign and date it.

The agreement covers
compensation of the
partners, what happens
when there's a loss, business
type, what each partner
invested, role of each partner,
dispute plan, course of action
due to death or illness, what
happens if the partnership has
to be dissolved, and how long
will the business be in
operation.

Tailor-cut the agreement to
your specific business.
Add anything to the agreement
that's important to you, your
business.

It is important to keep the
line of communication open.
Find time to check in with
the partners. Discuss your
concerns. Inquire about
problems.

Meetings should be
scheduled regularly.
This is the time to bring-up
how to improve sales. Or,
get suggestions from the
sales team. Discuss anything,
everything, pertaining to the
betterment of your business.

What can be done to
improve productivity?
Employees working as
a team? If not, find out
why. Do they have the
proper incentives?

Can you get better
deals on supplies?

Are the partners working
well together? Is the
advertising bringing in
more sales? If not, how
can the advertising be
improved?

In conclusion, general
partnerships tend to be
less complicated. Each
partner shares his/her
opinions, knowledge.

Keep the line of
communication open.
Schedule frequent
meetings.

Every action concerning
the business should be
in writing. It doesn't matter
how small or big the
decision.

The Advantages Of Business Cards

Be fair, attentive, and customers
will return.

The small business owner must
present him/herself professionally,
at all times.

The purpose of the business card
is to open a line of communication
with the public, your target market.
It is the first observation into what
your product or service is. The
business card gives access to your
e-mail, telephone number, cell number,
fax, and/or address.

A major advantage of having a
business card is the creditability
it affords you.

At a gathering, the topic of your
service or product is mentioned.
Several people ask for a business
card. Only, you don't have any.

It reflects badly if you have to
write your business related
information on a paper plate.

The business card is your ad.
It should show-case you, your
product or service. It should
have, only, necessary information.

The advantage of a business card
is its a tool to increase sales.
Use any business tool selectively.

The idea is to provide business
cards to people who have a high
interest in your product or
service, or to your target
market.

Of course, there isn't anything
wrong with handing out business
cards to other people. No one
can say, for sure, a specific
person will not be a potential
customer.

Your target market is teens,
for example. Other groups could
have teen relatives, and would
buy your product or service.

Person A receives your business
card, buys for another person.
It equals more sales.

The business card explains to
people how you can help them.
In this time of recession, people
are careful about what they
spend money on.

People must see a benefit before
buying your product or service.

"What will your product or service
do for me?" They will ask.

In other words, your business card
has to say specifically what
benefit(s) the product or service
offers.

The advantage of business cards
being tailored works in your favor.
The design can be unique, different
from the wallet size cards. Print
on half of the card, and leave the
other half blank. It can attract
more sales.

Finally, the advantage of carrying
them in your purse, wallet, or
pocket is a plus. There isn't
anything special needed to lift them,
or transport them in. They aren't
bulky.

In our society, it isn't uncommon to
exchange them anywhere, everywhere.
Or, give them out at random.

In conclusion, be prepared all times
to exchange, pass-out, a business
card. The business card marks
you as a professional. The advantages
of purchasing business cards out-
weighs the investment of money in them.

Successful Internet Business

Be fair, attentive, and customers
will return.

A successful Internet business
must keep in mind its target
market. I'm referring to any
product or service sold on
the Internet.

Direct your advertising at
your target market.

"Where do I find my target
market?" You tapped
your fingers on the desk.

Find your target market
by researching. Get an
idea about who they are
from forums.

Discuss your idea, part
of it, and see who responds.
The 20--35 year olds, teens,
or senior citizens? The
age group who shows an
interest in your product or
service is your target market.

Don't be afraid to try chat
rooms. It's possible to get
tips, pointers, and a new way
of looking at an old idea.
All, any, information is possible
feed-back. Sift through it to
see what's useable.

Personally, I've found chat
rooms to be a wealth of information.
A few hours spent in a chat room
helped me come-up with new ideas.
I didn't dismiss the old, but held
onto it for future use.

Every e-mail or snail mail should
list your product or service. Every
person is a potential customer.

Person A mentions you, your
product, to person B, and
the second person could become
a customer.

The word-of-mouth advertising
from person A and B spreads
like wild fire. Word-of-mouth
gives you more coverage than
a paid ad.

A happy customer is a repeat
buyer, and loyal. Every successful
Internet business strives to keep
customers informed of new products,
services, and provides information
to help them.

Sponsor contests, no shipping and
handling charge on orders over a
certain amount, promise a free gift
to the first one-hundred customers,
give away free reports, and/or ask
for suggestions to better serve them.

Sales is increased by linking to
another web site(s). Once traffic,
people, visit, your page should
inspire them to buy.

The ordering process must be
easy, and use of a credit card
smooth, secure. Everything on
it is user friendly.

Don't become frustrated,
disappointed, with yourself if
you're not making money. A
successful Internet business
isn't made in a few months.
It takes years. Often, it'll be
five or more years before
seeing a profit.

The successful Internet business
keeps its target market satisfied.
Your line of communication is
always open. E-mail with
updates, special offers, discounts,
and/or information to help them.

Make money by linking to successful
web sites. It gives your target market
options.

Of course, be open to feed-back on
your product or service, and a
successful Internet business will
be yours.

How To Repair Credit

Be fair, attentive, and customers
will return.

Recession, rising gas prices,
loss of a job, foreclosure, and/or
illness contributes to a
damaged credit rating.

Most times, you can't control
the circumstances that
lowered your credit rating.

At least, there are ways to
help repair it.

Start by getting copies of
your credit reports. You
have a right to free reports.
You are allowed one a year
from each of the bureaus:
Annualcreditreport.com,
Transunion, or Equifax.

If you're in the UK, and
want to check your credit
report, for free:
http://www.annualcreditreport.co.uk/.

"Why get a credit report?"
Several people asked.

It describes what needs
repairing. Check off any
information that's incorrect.
Start making telephone calls,
writing letters, or take the
necessary steps to get it
repaired.

It takes time. Often, you'll
have to stay on top of it.
Keep pushing until it's
repaired.

Remember, your credit
rating determines if you'll
get some jobs, loans, just
about everything.

It can be emotional, hard,
but think of the results.

Contact creditors to
right bills paid, but not
noted.

If you find you can't pay
incoming bills, don't
panic.

Call the creditor. Let
him/her know you're
having financial difficulties.
You'd like a payment plan.
Will he/she work with you?

Some credit card companies
will reduce interest on your
credit cards. It isn't
automatic, ask about it.

Use the interest rate
reduction to help pay
the debt.

It's a must that you
stop using credit cards.

Spending at this point
makes your situation
worse. It puts stress on
you, because you're
struggling already.

Cut-up the credit cards,
for now. Concentrate on
repairing your credit. With
the credit cards in pieces,
the habit, need, to use them
disappears.

Budget everything. This includes
the amount of water you use,
electricity, etc. Try not to
spend more than is allotted.

End eating out, trips to the
theatre, and using money on
anything that's not a
necessity.

The prepaid credit card gives
you an option. It helps while
you're repairing your credit.

In conclusion, an account,
credit card, that's paid late,
stop using it. Pay it on time,
or make a deal with the
creditor. Cut-up credit cards,
and budget.