Monthly Archives: March 2017

Business Cash Advance: A Reliable Alternative To Traditional Business Lending

Banks have been closing their doors not only to individuals, but to small businesses also when it came down to lending activities. Due to inability to obtain financing in turning down economy many businesses were forced to close their doors forever. However, a great alternative to traditional small business lending was put into place, known as a business cash advance. Virtually any business, having a merchant account and accepting credit cards as a form of customer payment can gain access to cash quickly and hassle-free.

Amount Of Business Cash Advance Is Tied To Credit Card Sales

Business cash advances are loans partially secured by payments coming from credit card processing companies. The amount of advance a business can get depends on the average monthly volume of credit card transactions. When signing up for business cash advance service a business owner would have to switch credit card processing to a lender-approved vendor. The loan is repaid through daily draw of credit card transactions, typically ranging from 15% and up, depending on the loan amount and length.

Typical loan repayment terms are around 4-6 months. Once a positive payment track is established by a borrower such process may be repeated over and over again, with higher business cash advance amounts and more comfortable loan lengths. Such business loans are similar to signature loans, as the funds borrowed may be used for any purpose.

Business cash advances are commonly known as factoring – a purchase of future credit card transactions by a lender. While there is some guarantee presented by a past credit card transaction volume, lenders undertake quite a significant risk leading to higher interest rates. On average, business cash advances feature a 35% premium on top of the principal amount borrowed. However, with low level of lending transaction volume these days, a business cash advance may be the only borrowing tool available to small businesses.

Business Card Printing Services: Value for Money

In any case, a Business Card can help you. Then again, it is a misconception that only businessmen can hold business cards. You can hold a business card even if you hold a post under any entity or if you are an office bearer and when you plan to hold a business card, you need to know where to go so that you get best quality business cards at reasonable prices. There are companies that provide you with Business Card Printing Services online at very reasonable prices.

Postcards have always been very handy when it comes to any kind of advertisement, be it any new business or product launch, postcards are easy to distribute and give faster and concrete results. These companies also provide cheap Postcard Printing Services and EDDM i.e. every Door Direct Mail Services.

Need for Business Cards:

From time infinite, business cards have always been the most sort after advertising tools as well as contacts of all businessmen and professionals. A business card holds all the required information and contact details that you want the person you are handing the card to know about you. In the world of business, you often meet a lot of new people. Handing over a business card is always a smart idea as that is probably the only tangible memory of you that the client or prospect is going to remember. A well-made business card speaks volumes about you as a professional and shows your dedication towards your job.

Need for Postcards:

Postcards are the most reliable and easy way of advertising anything you want. Colorful and attractive postcards can get a lot of customers and clients your way. EDDM s are becoming popular nowadays. They help you to target the kind of customers you need and big advertisements can always lure them.

Business Partnership Pros and Cons

Developing a successful business relationship is no easy task, there are many ups and downs during the process and so as a small business owner it is best to understand a few of the basic business partnership pros and cons so you can evaluate if this type of business activity is right for your venture. Partnerships can allow your company to enter new markets and reach customers faster, but they will also require you to give up certain controls over the product and customer experience depending on the roles your business takes with the partnership. Make sure the two businesses are compatible on several levels and that the executive management team has open and honest communication and the chance for success will improve allowing you to increase your revenue rather than spending resources needlessly.

Pros to Business Partnerships

Ï     Access to clients – The number one reason most companies enter into a partnership with another business is the opportunity for new business. A good partner will be able to make introductions and get products / services in front of your target customers.

Ï     Access to new markets – By partnering with a company in a different region or country a small business can rapidly grow across the country and expand internationally without having to set up physical offices and teams in every place around the world where there are willing customers.

Ï     Co-marketing campaigns – Marketing can be expensive and sharing resources for co-branded marketing campaigns can really help distribute the funds available for marketing and allow a business to be more creative with how the business and products / services are marketed.

Cons to Business Partnerships

Ï     Loss of brand – A partner will be sharing the branding and recognition a product or service receives in the market. Some larger companies will require small businesses to actually white label their products to them thus eliminating the brand altogether. Depending on the opportunity this may still be acceptable to the small business due to the exposure and amount of product that is being sold.

Ï     Unsatisfactory customer service – If a partner is handling the servicing and interactions with the customer concerning your product, any issues that they may be faced create a chance for an unsatisfactory experience which reflects poorly on your business. Adequate training and occasional check-up blind tests will help you feel at ease that the business partner is executing the customer service to your desired level.

Ï     Delayed payments – Business partnerships are likely to have revenue share agreements or performance based compensation included in the partnership. It is very important these payment processes are clearly defined and held to. A small business can get into financial trouble when shipping large orders and not receiving payments on time.

Business Letter Etiquette

Business etiquette is fundamentally concerned with building relationships founded upon courtesy and politeness between business personnel. Etiquette, and especially business etiquette, is a means of maximising your potential by presenting yourself positively.

Writing a business letter is not simply a matter of expressing your ideas clearly. The way you write a letter and the etiquette you employ may have a significant impact on your success or failure in business.

Failure to observe correct business letter etiquette can result in you adopting an inappropriate tone, causing offense or misunderstandings, lack of clarity or purpose and hostility or soured relations.

The foundation of good business letter etiquette is ‘Think before you write’. You should be considering who the letter is addressed to, how and why? This will then influence style, content and structure.

Here we cover some of the main issues relating to good business letter etiquette:

Addressing the Letter

Always make sure you have spelt the recipient’s name correctly. It may sound simple, but you would be surprised at how many people fail to do so. The recipient’s name should include titles, honours or qualifications if deemed necessary.

Many people use the ‘Dear Sir/Yours Faithfully’ formula when addressing the receiver. Although this is acceptable for routine matters it is impersonal and should not be used when dealing with those you know, queries or complaints. With these the ‘Dear Mr…./Yours Sincerely’ formula should be adopted.

Once a certain level of familiarity is reached it is not considered bad etiquette to use phrases such as ‘Kind Regards’ or ‘All the best’ at the end of the letter.

Confidentiality

If the content of the letter is sensitive, personal or confidential it must be marked appropriately. Marking the letter ‘confidential’ will suffice in highlighting this fact. If you only want the letter read by the receiver without the interception of a secretary or PA, mark it as ‘Private’, ‘Personal’ or ‘Strictly Confidential’. If you have received such a business letter it is good etiquette to reciprocate and ensure that all future correspondence is kept at that level of confidentiality.