Steps to Successful Entrepreneurship

I used to listen to my dad's advice when I was a little girl. He always said that when I grow up I should start my own business because nobody really gets rich just by being an employee. He repeated the same context over a period of time until it penetrated my system. I understood very well that he wanted me to break free from the hassles of corporate world and use my skills and talents in the progress of my own business. In one research, I learned that there are so many things to consider before starting a business. At this point business planning is a determinant factor of the success of every business venture.

Business Planning: Where to begin laying out the plans?
The very first thing to consider in business planning is establishing the goals and expectations of the business. You must ask yourself what is the reason of the business venture? Here are the common reasons of neophyte business people: Freedom and Independence, Respect from peers and family, Power, Self-fulfillment, Livelihood, Change of Lifestyle, and Money. In business planning, consider what motivates you and what drives you to sustain in that venture. Your goals are essential guide to where you are heading in your business enterprise.

Business Planning: What are the key questions to ask?
When you have determined your reason for entering into the business world, the next step in business planning is to ask. Ask these following series of questions:

What kind of business? You should be able to assess yourself if you have the knowledge on the kind of business you want to start. The degree of knowledge and experience you have is a great tool in managing your own business. If you don't have any knowledge or experience to the kind of venture you want, you might as well start learning about them. After all, you don't want to go to battle without any weapon. Your knowledge about the business is your best weapon. In small business planning, you need to know the ins and outs of the business from ground up.

When and where to start the businesses? The timing and the location your business are also very crucial part in the success of your business planning. Know the people in the area and identify their needs or potential wants. Just imagine putting up your business where there are hundreds of similar businesses offering the same products and services in that area. Although healthy competition is good, putting up the same kind of store among hundreds of similar stores will saturate the area and create redundancy. To make your business stand out, put up in places where there are less stores offering what you have and when you do that make sure you also have a compelling offer to the customers that they can't simply resist.

Other additional questions in the steps of business planning that must be addressed right away are the following: Who are involved in the business? Who is the target market? How to start the business? How much is the capital? What are the strategies to use in jumpstarting the business? What is our business plan? What is our Marketing Strategy? You must also include in the business planning the legal documents that you need to accomplish in order to operate in that area smoothly. Some businesses start off as a hobby like jewelry making, crafts making or antique refinishing business and do not require much registration papers but as your business grows, the IRS will eventually question the documents somehow.

Business Planning: Determining the Nature of Business
You can choose from the various kinds of businesses that you can offer to the people. As part of your business planning you must identify what is the nature of your business. It will come handy to know your business from time to time when consumers ask.

Service. You sell your skills to consumers. i.e home repairs, pool cleaning, massage

Wholesale. You buy in bulk and sell them by piece with a marked-up price.

Retail. You sell products directly to consumers. i.e convenience stores, grocery, dress shop.

Project Development. You gather resources to make profitable product or service and deliver to the customers as fixed-price project.

Manufacturing. You put together parts and components to create products for the consumers or other businesses.

The steps in this article are just the baby steps in becoming a successful entrepreneur. Along the way, you will have to learn the curves as you operate your business. There will be more trying times that will eventually lead you to prosperity. For the meantime, you can focus in finalizing and executing your business plans. It is in the business planning stage that the growth and direction of your venture will follow. A good business planning is the solid foundation of lasting business enterprise.

Starting a Business Does Not Require Personal Money

Have you heard the stories, "I can't open a business. It takes too much money, and I'm already broke," before from people wanting to start their own businesses? You may even be one of those people that believe you do not have enough money to start a business. Starting a business is expense, you are correct, but unsecured business credit can help you start a business without ever dipping into your personal checking or savings account. That's right - here is how you can start a business without risking anything personal to you...Unsecured Business Credit!!

Unsecured Business Credit: How Everything Stays Separated

Your personal credit and assets are linked to your personal identification number, better known as your social security number. When you apply for a personal credit card or loan, the lender asks for an asset (your home, car, etc), and they secure the guarantee to your social security number.

The funding you need to start a business, whether that be through loans or credit cards, does not need your social security number (or a personal asset, for that matter) when you apply. Instead, you are asked to provide your EIN, or Employer Identification Number, as a form of identification when you apply for an unsecured business credit loan. An EIN is a nine digit number the IRS issues your business for tax and credit building purposes.

This number separates everything related to your business from everything related to your personal life.

Unsecured Business Credit: But, Wait, I Am Not An Employer

You still have the capability to apply for an EIN even if you do not have employees under you. Sole proprietorship does not disqualify you from receiving unsecured business credit. You can open your business as a sole proprietorship and change it later to a corporation and your unsecured business credit will not suffer. As long as your business is created and registered, you should be able to apply for an EIN. An EIN does not cost you anything, and it is the single, most important thing you can do for your business.

Unsecured Business Credit: Get Out There And Start Your Business Today!

An unsecured line of credit for your business is the easiest and safest way for you to get the money you need to start your business. You will no longer need to worry about having enough money or putting up your means of transportation to start a business. You can go out there, and start your business today without ever having to worry you may come home to a boarded up house!

Starting a Business Without Leaving Your Full Time Job

Starting a business in a bad economy, accounts for a very smart move. It provides as a backup option and can prove to be a strong money generator. For example, a small home business or internet business is easy to set up and requires minimal capital.

There are many benefits of working full-time and running a business. A regular job provides family benefits and the side business allows you to follow your dreams, thereby maximizing tax deductions and earning extra income.

There is a wealth of information available on the internet, book stores and libraries that provide guidelines for starting a business. However, before you jump into it, it is always good to chalk out a plan on the time and effort you are ready to invest in starting and running a business.

Analyze your Available Time

In a given week there are 168 hours. Of that sleeping, eating, personal care, family time, and social life could roughly demand 94 hours. If you have a 40-50 hour regular job 5 days a week, you would have a surplus of 30+ hours and weekends to work on your business. But planning is crucial as you do not want to go on a work overdrive, the work done should be enjoyable.

Choose the Right Business

The next important step is to choose the right business based on your passions, skills and time availability. A good side business is one that does not compromise your regular work, family and social responsibilities, but lets you realize your dreams of becoming financially strong.

Plan the Structure

After you have identified the kind of business that interests you, make a work flow or work chart of the business process. Find all the help and resources you need to start and run the business. List your goals, "spread the word" on the internet through family and friends about the products and services your business offers.

Use the Internet

There are two ways to run your business: "online" and "offline". Traditional offline businesses have been there for centuries where the focus is to expand the business by word of mouth alone. The power of the World Wide Web is now known to one and all. It has the ability to cross all known physical and geographical boundaries to connect people all over the globe.

It is the online business that gives many advantages in terms of marketing your products online and the convenience of working from home after your full time job. Harness the power of starting your business online to reach out to prospective customers and clients and expand your business on a global scale.

It is vital to set your expectations on a realistic level when starting a business. Staying grounded and following the rules of business, you can make inevitable progress. The journey of preparing yourself and your mind to undertake a business venture on the whole is the best investment one can make. It makes one strong enough to survive any kind of economy and not fear the fluctuations of the job market.

Get a great head start and start your business!

Best Tips For Business Growth

Business, like any other entity, demands growth, especially when in the embryo stage; embryo in the sense that when it has not gotten the blue-print to be successful and make waves. What is then to be done to make sure that it gets the proper footing when trying to launch or gain popularity, the business in this context is any undertaking made to provide goods and services to people with the aim of making profit or maximizing profit. There are so many business models that has been written on how to ensure the growth of a business and this will be no exception, so in simple terms in making sure that one's business grows in leaps and bounds, the following tips or advice should be worked upon.

The first among them is to choose a niche and then specialize on it; it is very important to know that a business cannot grow if does not have a selling point or niche that has been carved out. People don't like to associate themselves with a business that is all screwed up without having a focus. If one's business is to grow there is the need for it to have a particular thing it focuses on or a particular service it renders, better still a particular product it sells. With this, one will be able to specialize and fully develop the business rather focusing on too many ideas, products and services that will not only make the business lose its standing but also drive away prospective customers since they are not convinced about the specificity or what the business is all about. Do not think you will make some big bucks by selling everything or offering all the services under the sun.

Business growth is always characterized by having a specific set out goals or targets which is what the thrust upon which the business will be built upon. The set out goals or targets should be arrived at after a careful process of knowing the demands and needs of the target market which will then be analyzed and a kind of mission statement is being made, most businesses that manage to go an extra mile in having a standing mission statement have over time gained popularity and has hundreds and thousands of subscribers because people know what they exactly stand for other than they being known as one of those businesses that does not have a set-out target in terms of services they render for example an outlet that has been providing public relations services just decided to start selling drinks and snacks. In this regard, in a perfectly competitive market such a business is destined for doom as it loses its image, credibility and the customers at will as it does not have a target and goal. Simply put, in growing a business, a mission statement is needed to serve as a summary of the services rendered and also a specific market that the services are intended to serve.

Good marketing impetus is another important point to be worked upon when hoping for a overwhelming growth in one's business and it is very simple and straight, the more you market your product and services, the more you have a down-line of subscribers. The reason why most business remain stagnant is that they lack good marketing impetus and they continue to struggle for survival in the market, good marketing impetus could be achieved through sales promotion, offering high discounts, making a good jingle using the television or the radio. This will no doubt give prospective customers the sense of belief that one's business is the best offer they could settle for in making their needs to be met. Corporate social responsibility in the form of sponsoring community programmes that offers educative and informative scenery will no doubt make one's business the best brand people will want to settle for and one's business will end up being an house-hold name in the industry.

The corporate identity of a business is clearly the eye of the business in the public, the belief that business is primarily run to make profit has made many businesses crumble because once sales are coming in and profit is made the deal is done. On the contrary, what most business owners do not know is that certain things have to captivate the interest of customers when trying to find a product or service to use to suit their needs, of note is a product like Heineken that has subsidiaries all over the world. The secret to their success till date is having a good corporate identity ranging from their corporate logo, their brand name and their distribution all over the world. A corporate logo must be able to sell the product or better still speak for the product and also arrest the mind of the prospective customer, the ideal thing is to seek the services of a good company that can design one that will represent the image of the business that one is into. Also one's business should have branded materials like t-shirt, polythene bag, biro, bag e. t. c, it may appear capital intensive but it will no doubt pay off as growing a business is like sowing a seed that will take time to reap fruits. Therefore, the image of the business should be properly maintained and it will no doubt create a good impression in the mind of the prospective customer depending on the services that one's business renders

The last of them all is creating a good website that has the latest 3D fonts and templates with proper contents good enough to proclaim the gospel of one's business, it is not enough to have a free blog because it won't afford one's services to be seen as a product that should be given consideration in the light of other venture that offers such service. The truth is to give one's business the wings to be able to fly among the best, a fully developed website is needed to bolster one's chances of making good profit. Since thousands of people flocks the Internet day in day out one's business will no doubt be patronized in no time at all, a good website developer should be consulted to make use of the cutting edge layouts available, but the most important thing is to make sure that it is packed with all what the prospective customers needs to know about one's business. Growing one's business in leaps and bounds will not happen over-night but when adherence is given to the above explained points it will no doubt make the outlook of one's business to be a masterpiece.

Use Business Credit Cards For Building Business Credit

One way to make your business flourish is by building business credit. It comes handy when you want to seek financial assistance to expand your business. One of the simplest ways to establish company credit is by using a business bank card. Around 65 percent of the business owners are making use of business charge cards and the number is only increasing. business credits can be acquired easily compared to other line of credits.

They are useful for purchasing supplies while you can reserve some amount of cash. However, you need to remember that business charge cards are to be used only for business purposes. Here are few benefits offered by business bank cards you might want to be aware of while trying to build corporate credit.

• business credit cards aid in keeping your business and personal account details separate. You will not have to waste time sorting them out when you pay taxes or while you are performing an audit.

• business credit cards have the advantage of higher credit limit of about $50,000. You will be able to make purchases for your business that will not be possible by using personal credit cards.

• business credit cards are of great help to improve your business credit profile. All you need to do is make the payment regularly and use your card wisely. Also have your trade with businesses that report to credit bureaus.

• You get to set employee spending limit through your business personalised card. However, make sure you monitor their spending from time to time.

• You can take advantage of discounts on business travel and business purchases when you earn reward points. Some cards also offer discounts on software and phone services.

Apart from the above mentioned advantages while using business bank card you get to advertise your business while displaying its growth. Even home business owners see business bank cards as a way to gain credibility. business cards can be great boon when used with care at the same time mismanagement can lead to undesirable consequences. For example if you do not make your payment even after the last day of your grace period you will end up paying the late fee. It doesn't stop with that there will also be a negative effect on your credit report. So if your aim is to build business credit, be careful in your credit-card management.

Business bank cards, like any other product, need to be chosen with care. Make sure you compare all the features before deciding to go for a card. Choose the one that gives you maximum benefits and fits your requirements. Make yourself familiar with all the terms and conditions before you sign an agreement. Although the prospect of owning multiple cards is tempting restrict yourself to 2-3. Making several credit inquiries will be an obstacle in building business credit. Stick to the fundamental rules of the credit-card management and use it to your advantage.

The 5 Keys to Successfully Selling a Business

Selling your business in today's dismal economy won't be easy. It's tough to get loans, and even harder to get agreement from multiple parties about the value or sale price of the business. But, it's still possible to sell a business without undue hassle. Here are the 5 keys to successfully selling a business.

Key #1 - Preparation Means Everything

In preparation for selling your business, there are a number of things you should do to get ready - long before you ever put your business on the market.

First, you want your business to look good for the buyers, and that means getting your financials in order and put into a format that makes sense for a buyer. While your accounting methods may be perfect for your day-to-day operations, you're likely not set up for the banks and the buyer.

You want to make it easy for the buyers to see the potential from your business. They only care about past success in so far as it pertains to projected profits. Many a business has failed to sell because, while they looked good in the past, the future projections weren't in alignment with what the buyer wanted.

You also want to make sure that YOU are ready to sell your business. Another reason for the failure of a business to sell is that the owner is reticent about selling. The sale won't work if you're not ready to sell the business.

Key #2 - Transparency Makes it Easy

By "transparency," I mean having full disclosure throughout every step of the sales process. You should be fully open to supplying your business broker whatever he or she needs to sell your business, and your business broker needs to be open with you about the value of your business and the likelihood that it will sell.

Far too many business brokers are only concerned about the listing. They get paid for listing your business, and for conducting a business appraisal or business evaluation. Your broker should tell you if your valuation is out of line with the current market, and give you instructions on how to increase the value of your business before agreeing to help you sell.

Also, transparency during the initial stages will ensure a smoother due diligence process. Because you've already revealed the potential issues or problems to the buyer, he will know what he's getting into, and can't use these issues to lower his bidding price later.

Key #3 - The Buyer is Your Ally

You and the buyer are in this together. A failed sale means wasted time and money for both parties, so it's in the best interest of both buyer and seller to work together to make the sale happen.

The buyer will have demands that you may not like. It's perfectly acceptable to say "no" and stick to your goals, while also providing the buyer with some flexibility. The ideal scenario is when both buyer and seller come out of a business sale transaction with their goals met.

Key #4 - Organization is Critical

Many business brokers simply use the online listing services to list a business for sale. That's fine, but it's typically going to lengthen the sales process.

Your business broker should ideally put together a sales kit or package ("Deal Book") that provides all the information a buyer needs to say yes or no to the deal. Then, an organized process of marketing works best.

Your broker will already have a list of potential buyers, as will you. The broker will broadcast a message to all buyers simultaneously about the opportunity, and after careful vetting of the responses, distribute the Deal Book to selected prospective buyers.

Key #5 - Competition is Good

Finally, once the Deal Book has been distributed to selected prospective buyers, you'll provide them with a firm date for submission of bids. They will know that they're bidding against other buyers, which puts you in the enviable position of receiving multiple bids from which to choose.

Thus, you can select a buyer who not only has the best offer, but has the most likelihood of following through to completion of the sale. This particular step is highly important because three out of every four business sale transactions will fall through during the due diligence phase, costing you countless hours and dollars.

Small Business Mistakes That Cost You Customers

In business, first impressions are everything. If you fail to meet or exceed a customer's initial expectations, there is a strong likelihood that you will miss the sale. It therefore makes sense to look at every touch point of your business from the perspective of a potential customer to overcome any potential problems.

By putting your customer hat on, you'll be able to see the areas of your small business that require work. The list below details ten common small business mistakes that if not handled correctly, cause roadblocks for customers. If a business owner fails to consider these areas, a customer's confidence in their business is questioned. If a customer sees that you are not maintaining your business in one particular area, chances are your other areas are below average as well.

Take careful note of these ten areas and ensure your small business excels in every one.

Ensure the Path to Your Door is Neat

When customers are walking to your door, do they need to beat back a jungle? Are there boxes scattered beside a nearby wall? Can customers see a pile of junk? These are all scenes that negatively impact on your business' image. Ensure that the front path to your business is impeccable. Sweep it in the morning and at night. Clean away any junk as soon as possible. By staying vigilant you can ensure your business is as welcoming as possible, setting the standard for your products, services and future interactions.

Ensure Your Signage is Still in Pristine Condition

Take a look at your signage. How is it holding up? The way a business treats their signage speaks volumes about how it values itself and its customers. Over time, nature will sap the shine and colour from every sign. This is such a gradual process that you won't even notice the colour fading. Before you know it your faded signage has been up for months or even years without you realising it's second rate. You must realise that every sign has a use by date. Either take photos of your signage every few months to compare, or ask a trusted advisor whether your signage is still in pristine condition. If you fail to upkeep good signage, your first impression will be second rate.

Ensure Your Windows are Clean

Having fingerprints on your windows is a no no. Dirty windows give the perception of a dirty business. Ensure you set up procedures to regularly clean all your windows and door handles. Customers won't notice how clean your windows are. But if they are dirty, they'll notice instantly.

Don't Conduct Cheap Repair Jobs

Fancy yourself as a bit of a 'Do It Yourself' hero? That's fine at home. However this attitude usually won't cut it in the world of small business. If you seek a quick fix with some duct tape or A4 paper, the results will reflect poorly on your business. Ensure all repairs and changes are implemented professionally and with a quality finish. Don't just cross out unwanted items on your menu, reprint the whole menu. Don't personally amend your opening hours signage, have them redrafted. You need each customer to be assessing the quality of your products and services, not why your number '6' is a different font to the rest of your sign.

Ensure You Have the Right Lighting

The lighting in your business must reflect the mood and ambiance of your brand. Some natural light is generally preferred, as this gives your business a visible organic connection to the outside world. Plus natural light is often more effective. Bright natural light is often preferred in stores with large product ranges, so customers can read all the necessary particulars. Dimmed lighting is preferred in businesses that wish to entice a relaxed mood, such as a massage parlor. Ensure your business has lighting that will enhance the experience for your customers.

Ensure Your Business Smells Appropriate

Did you know that smell is the strongest trigger of memory? There is a whole science behind how a store should smell to encourage people to either spend more time browsing, or buy more items. Obviously, the best smell will vary between different business categories. But one thing is for sure - an offensive smell will negatively impact the buying experience for your customers. Yes that's right, the way your business smells could cost you a sale. It is critical that you control odors in your business. This includes odors from machinery, food and staff. Create a barrier for smells by regulating usage, places and times.

Ensure Your Bathroom is Clean

At home, when visitors pop over unannounced, the phrase 'Can I use your bathroom?' strikes fear into our bones. You immediately wonder if your bathroom is clean or if there are adequate supplies. The last thing you want to do is offend a friend.

And it should be that way in your business too. You bathroom area must be kept clean, stocked, private and smelling perfect. Customers aren't enthusiastically volunteering to use your bathroom, they're using it because they have to. You need to ensure their experience is as pleasant as possible. Set a bathroom inspection time at regular points during the day. I prefer first thing, at lunchtime then at the end of the day. If possible, have a separate staff and customer bathroom so that staff can access facilities without delay.

Ensure Your Apparel Matches Your Business

Do you wear a uniform or casual clothes? It's your call. Just choose clothes that reflect your small business personality and customer perceptions. As always, first impressions are everything, so ensure that your clothes are in good condition, clean and don't stink of sweat. The clothes you wear should effortlessly blend into your storefront, making you a clear store native. If you wear a poor choice of clothes, customers will be critiquing your outfit at the expense of considering your products and services. Again, you want the eyeballs and minds of your customers to be focused on your products and services, not on your fashion sense.

Ensure Your Temperature is Appropriate

When setting the thermostat inside your business, your customers come first and your staff come a close second. Ensure that the temperature you set is appropriate for the circumstances and the duration of time they will spend inside your store. If you set the right temperature, your customers will happily spend time in your store. The more time they spend, the more purchases they make.

Ensure Your Background Music is Appropriate

I bet you have a favourite musician. I bet you play their music at home or in the car. Before you play their music at work or on hold, ask yourself whether their music is appropriate. Does it reflect the values and ambiance of your business? Chances are it may not. It's therefore essential to make music choices that will reflect the customers you are targeting. Do not leave the music jukebox up to your staff. They will likely choose songs that they love and in the process possibly alienate your customers. Ultimately the music and the volume you play it at should work in harmony with all the other senses of your business.

Buy-Side Services Provided by a Business Broker

Business Brokers are an excellent resource for entrepreneurs and business buyers who seek to acquire a privately held company. A description of the most commonly offered services by experienced intermediary firms include:

Acquisition Search:

Business Brokers are a great resource for locating companies as they have access to a variety of specialized databases and resources, in addition to large networks of businesses for sale, prospective sellers, and other business intermediaries from around the globe. The time frame to formally list a business for sale can be very long and therefore not all opportunities that a business broker is working on may be officially listed on the company's website. Therefore, individuals interested in acquiring a business would be well served by establishing a relationship and registering as a buyer with one or more business intermediaries in the targeted area. Prior to engaging the business intermediary, a buyer should have a resume, financial net worth statement, and a clear understanding of their investment criteria (industry, location, size, price range, earnings requirement). While the majority of business brokers represent the business seller who is responsible for paying their fee and who the broker has a legal and fiduciary duty, buyer representation has become more popular where a business broker will provide a range of exclusive buyer related services to either an entrepreneur, corporation, or Private Equity Group (PEG) on either a fee or commission basis.

Funding:

Securing capital to purchase an existing company can be a daunting process for most buyers. The size of the company, type and quantity of assets, amount of required funding, personal credit scores, industry experience, and business cash flow history will be several of the guiding factors that determine the type of capital that should be considered. Business brokers have well established networks of funding sources and will be an invaluable resource in assessing the myriad of available options and finding the solution that best suits the targeted business and individual buyer requirements. Prior to investing considerable time in any specific business opportunity, the buyer should be prepared to have an open conversation with the broker to fully understand whether their financial situation will support the acquisition of the particular business based upon the price, terms and conditions of sale.

Due Diligence:

The business broker's value is immeasurable in facilitating the due diligence process especially in the packaging, presentation, and evaluation of the legal, financial, and operational documents required by buyers to properly analyze the business to determine if it meets their investment criteria. Reviewing the financial statement recast with the buyer and advising them on the methodology used to value and price the business is another key role performed by the Broker. During the DD process, the broker should discuss with buyers the specific licenses, permits, contracts, leases, or franchise/dealership agreements, necessary to operate the business and the steps involved to obtain, assign, or have these transferred. Successful business intermediary firms are very selective in the companies they represent. Many turn down 50% or more of the listing opportunities based upon pre-listing due diligence. Therefore, having a business intermediary involved will often save the buyer considerable time during the discovery phase as businesses that are overpriced, unprofitable, or dependent on questionable or illegal business practices have been weeded out.

Professional Referrals:

Business Brokers maintain relationships with professionals in the accounting, legal, valuation, and financial fields. It is in all parties interest to have experienced advisors involved in the transaction as hiring the wrong advisor will, more often than not, cause the deal to fall apart or subsequently fail. Small business sales is a very specialized field and the business broker will be a credible source to contact for referrals to attorney's, CPA's, valuators, and financiers who have extensive experience and a core competency in small business transactions.

Why Banks Aren't Making Business Loans and How You Can Change Their Minds

Given all the media attention to the recent plight of small businesses (any business for that matter) in seeking business loans, it is easy to get mad at banks for keeping their vaults closed tight regarding small business lending (a trend expected to continue in 2011). However, regardless of what the media thinks, there are numerous reasons that banks are not lending to small businesses and some of these is

sues are out of their control.

First, most financial institutions are fearful of current and future government regulations. For example, the credit card reform act of last year has really done nothing to protect consumers from crushing debt. All it has done is make it more burdensome for credit card companies and banks to issue and manage these accounts. In response, banks and other lenders are either passing along these new costs to account holders or telling potential borrowers NO.

Further, with the recent passage of the financial reform bill in 2010, banks and other lenders are sitting tight waiting until all the provisions of the bill are written into law and these organizations have the chance to see how the new bill will affect how they operate their businesses - especially in how they underwrite business loans.

Second, while we seem to be getting beyond the housing crisis and all the bad or subprime loans that defaulted in 2009 and 2010, we have yet to see the impact that similar commercial property loans and their impending defaults will have on our lending institutions.

Many banks and other commercial property financiers are still sitting on tons of bad commercial property loans; many that are already in default or approaching it quickly - especially since our so called recovery is barely inching forward. Thus, until the banks can get a hold of their commercial loan portfolios, they will continue to hold tight the strings on future lending to small businesses.

Lastly, and most importantly, while banks and other lenders continue to see high demand for business loans they are not seeing very qualified borrowers. Many business owners, hit by this recession have, over the past two plus years, seen their revenue and thus net income drop substantially as well as watched their personal and business credit scores crash and burn. At the same time, mostly due to the factors mentioned above, banks have been increasing their lending criteria requiring higher levels of net income or cash flow and higher credit scores.

Take all of these factors together and you have the credit markets we are now in. Very high demand and need from businesses seeking ways to survive and maybe even grow at the same time access to these capital markets drying up faster than an afternoon rain storm in the Mojave Desert.

While this may seem extremely bleak for your business, it does not mean that bank or alternative financing cannot be had. It is just that the rules have changed and there are more obstacles in the way. But, none of these rules and obstacles need to be fatal to your business.

There are three simple ways to get your bank or your lender of choice to change their mind regarding funding your particular business.

First, you must begin to understand financial institution's or bank's new lending criteria and work to improve your situation (personally) and that of your business to meet and exceed these new requirements. Thus, if your bank states that all borrowers are required to have cash flow at least twice the monthly loan payment amount - then it is up to you and you alone to find ways to improve your business's cash flow position by either increasing revenue and margins or reducing costs. Or, if your bank or lender requires your personal credit score to be 700 FICO or above then take the time now and improve your credit score. It is really that easy. Much better to spend your time and energy finding ways to put yourself in a better position to achieve an approval then to just waste that time and money in applying over and over again hoping that the lender will somehow change its mind.

Second, you have to demonstrate to these lenders that you (and your business) will do all that you (it) can and that you have done all that you can to this point. This means showing that you have just as much skin in the game as you want them to put in. This could come in the form of shedding your fear or dislike or reluctance to pledging personal assets and business assets as collateral as well as taking all the cost saving initiatives your business can like not providing management or owner salaries until revenue turns around. Further, you might tap into savings and other retirement accounts for a capital infusion to help improve the business's revenue before approaching your lender. Keep this in mind, no bank will loan your business hundreds of thousands of dollars (or even just thousands of dollars) if all you have at risk is your time.

Lastly, most investors (private investors) when looking at deals to fund look for reasons NOT to invest. Thus, if they find one (even a very simple or small reason), they throw that deal into the trash and move on to the next one.

Banks act very similarly. They look for reasons not to invest and if they can't find a reason to say no they then start looking for ways to make the deal work. So, even if you have a great excuse why your credit is bad or your income is down, it does not matter, they will not listen as they have already turned to the next deal. Thus, take away all of their reasons to say no and you will begin to get the approvals you are seeking and need.

The bottom line here is that even though business loans in this market are extremely scarce, you and your business can still get the funding you need to survive and grow. It just takes a little work in making sure that your business doesn't have blemishes before applying. Your first impression may be your only impression.

Further, if you are unwilling to take the time and better position your business for a loan before applying to your bank, then why would your lender think you will do it afterwards?

You can either find a way to make your business stand out before applying for a business loan or waste your time getting told NO over and over again. The choice is yours.

Home Based Business Ideas: Energy Efficient Products and Services

Have you ever taken a look at a home based business in the network marketing or direct sales sector? If the answer is yes, that's fantastic; you have an idea of what network marketing is all about. The awesome thing about a home based business idea in network marketing is that the cost to start your business and buy into a proven system is minimal. Most home based business ideas in the network marketing sector are pretty much under $1000.00 and most are $500 or less. Now we come to the success rate of people who start businesses in the network marketing sector for under $1000. What I have noticed is that when you have not mortgaged your home and entered into a major contract with another company somehow the urgency of owning the home based business and the drive to succeed seem to diminish. Before we ever get into the various products and services available in the network marketing sector in today's climate we have to discuss the psyche of the person wanting the freedom they are requesting. I have spoken to so many people who start out with a bang and kind of loose their gusto in 3-5 weeks. Sometimes people will last for about 4-6 months then the fire diminishes. Why is that? Well, I know one thing, if I had 50k or more invested into a home based business idea it would not take 4-6 months before I throw my life savings away. Although, since many network marketing business are under $1000, most people don't have enough on the line to take their network marketing home based business ideas seriously enough to succeed. Let's assume you have the drive to move past that 4-6 month mark. This seems to be the mark where unsuccessful people stop and successful people continue to push forward. Now you have to decipher if you are in the right business model for optimal success.

Most network marketing companies have traditionally been in the cosmetic, weight loss and health and wellness sectors. In recent history (the last 15 years) there has also been a big surge of technology home based business ideas also such as cell phone businesses, satellite home based business, Wi-Fi home based businesses and others. Even more recently, in the last five years to be exact, there has been a huge push in the energy efficient products and services industry.

I get excited when I think about the history already made by the first two residential energy companies to offer their services to consumers by way of the network marketing home based business model. According to Jim Melloan, project manager of the Inc. 500/5000 project Stream Energy grossed $848,000,000.00 for the year 2009. This company was founded in 2004 and officially started doing business in March of 2005 in Texas. Home based business owners are able to start a business with this company for less than $500 and are able to refer their friends and family to save money on their electricity and/or gas bills. They later expanded to Georgia in 2008 and are now expanding to Pennsylvania.

Next we have another notable company named Ambit Energy, founded in Texas in 2006; it followed Ignite's footsteps offering the home based business idea for less than $500 in the Texas market. It soon expanded to New York in 2007 and Illinois in 2008. I know because I was part of the excitement! In 2009 the company had a record 20,369.4 percent growth with revenue at $325,000,000.00! So with these numbers in the home based business/network marketing sector you would assume there are some winners that are just like you and I, who are making a percentage of that success right? Of course there are and I witnessed this happen first hand. For under $500 in both companies, multi-millionaires were created! There are several thousandaires and many people who have found an additional income that has saved them from foreclosure, replaced car payments, paid for their children's educations and much more!

So far I have discussed two companies with astounding numbers reported that concentrate on doing one thing, saving the average family money on their electricity bill. There's another trend happening in the energy business. A new company called America Approved Energy Services Direct., LLC has emerged offering a home based business in the same space but with a few tweaks! For one, America Approved Energy Services Direct., LLC aka AMA Nation was founded in October 2009. Peter Jensen, Robert Gries and Scott Turner came together to offer a home based business opportunity in the network marketing sector with the product once again being residential electricity. AMA Nation started out in Connecticut, and then soon expanded to New York City. Over the last year they have have a lot more territory than the first two. Currently, America Approved Energy Services Direct., LLC is the marketing arm for several suppliers which allows them to provide this home based business idea in 8 states for opportunity seekers wishing to concentrate on the residential market which include NY, NJ, CT, MA, RI, PA, MD and TX (soon to be 9 with IL)! So with the astounding numbers posted by Ignite and Ambit in only two and three states respectively, AMA Nation will certainly shock the industry with their three-year numbers. Now here's another shocker, by July of 2010 America Approved Energy Services Direct., LLC has also allowed their home based business opportunity seekers to acquire business in the commercial sector of energy deregulation as well. Opportunity seekers looking for home based business ideas are also able to do business in 15 states on the large commercial side of energy deregulation. So when it comes to energy deregulation, America Approved Energy Services Direct., LLC now has the largest footprint in the industry. By August of 2010, America Approved Energy Services Direct., LLC also added over 200 energy efficient products and services to its repertoire allowing home based business owners to also make money in other emerging markets such as solar panels, Led Lighting retrofits and much more. The most impressive factor in all of this is that you have the income potential of a major franchise in a network marketing business model for less than $225. So many people are recouping their initial investment within the first week of being self-employed in the energy business.

My team and I have been getting many ideas about how to build our business from local news happening around the world! For instance, the article titled All Agua Fria high schools will have solar panels written by AZ Central.com on 16, 2011 at 07:30 PM gave us the idea to start calling the schools our children attend to discuss the energy saving options and grants available. Another article written by LehighValleyLive.com discussed how IKEA Aims to Extend Solar Power Trend to Costa Mesa which gave us the idea to start going after department stores and restaurants in the California area. So with AMA Nation, my team of independent home based business owners and I have found this business model to be much more lucrative because we are able to tap into the entire energy efficient products and services industry.

For more information on how you can start a home based business in the energy products and services industry contact Tene Williams, the top female income earner with America Approved Energy Services Direct., LLC she has teamed up with several leaders in the industry and has helped hundreds of home based business owners see success with her hands on approach to seeing you to and through success without just the ra ra you see with other network marketing companies, but the knowledge and the training to help you close these large commercial projects and the wherewithal to train you where to look for business. Today, she is directing her Pennsylvania team to prepare for a major event happening in PA tomorrow 1/29/20. The Philadelphia Inquirer posted an article this morning letting consumers know that there will be a 1-day electricity bazaar to aid power-shoppers... and PECO will be on hand from noon to 6 pm near the food court at the Pavilion at King of Prussia Mall to explain electric deregulation. WOW, what an opportunity to go out and hand out flyers to generate business!