Boost Business with 3 Software Automation Techniques
Categories: FINANCES Productivity
Categories: FINANCES Productivity
Tags: automation business management Neeta Nelson operations productivity tradegecko
If you have your heart set on becoming a business owner or founder, then one of your first steps is securing financing. You cannot use your credit card, unfortunately. What you can do, though, is take out a personal loan. You’ve probably seen ads and websites about personal loans. Did you know you can use a personal loan for financing the birth of your company? Well, you can—and it’s worth considering.
The thought of using a personal loan in order to establish a business may seem counterintuitive. Personal loans are often used to help finance weddings, vacations and medical emergencies—items with specific line items and costs. While it’s true that this type of loan is offered for a variety of reasons, its main function is to provide borrowers a way to meet their financial goals. What do you say to the bank when applying for a personal loan that you intend to use for your startup? You tell the truth. The financial institution is not going to refuse your application—though it may refuse to loan you money if you can’t provide some proof of fiscal responsibility. (more…)
Written for EO by Susan Michel, founder and CEO of Glen Eagle.
Whether we have aging parents, adult children or both, we all should consider having an honest conversation about the future. If there’s one lesson I have learned from working with families over the years, it’s that elderly parents often regret that they didn’t start a dialogue with their adult children sooner. With 76 million American baby boomers moving into the retirement stage of their lives, there is a huge opportunity and need for families to start having these conversations today.
While these conversations cause all of us to come face to face with our own mortality and the possibility that health-related issues may result in a diminished capacity, the alternative—not having the discussion—can result in tension, misunderstandings and, ultimately, your wishes not being followed. (more…)
Tags: eo new jersey family financial planning succession succession planning susan michel
For entrepreneurs, “failure” feels like a curse word. We wince and often retreat in fear of it. When people think about startups, the word failure isn’t too far back in their minds. I myself often cite the age-old statistic that peppers headlines, confidently claiming 90% of startups are doomed to die.
And I’m not alone. In an op-ed for Fortune, business journalist Erin Griffith admits, “I carelessly repeat a statistic that I’ve heard dozens of times in private conversations and on public stages: ‘Nine out of 10 startups fail.’” The problem, she says, is that the data actually proves otherwise. In a study conducted by Cambridge Associates, researchers found that the real failure rate hasn’t gone above 60% since 2001.
According to Griffith, the 90% failure myth serves to soothe the bruised egos of those startup founders who failed. To mitigate its paralyzing effects, failure is fantasized as the norm. “But startup failure isn’t a natural law like gravity,” says Griffith. (more…)
Categories: Best Practices Entrepreneurial Journey FINANCES Goal Setting STARTUP
Tags: business startup celebrating failure failure Shannon Burns startup Tommy John
By Peter Strauss
Life is filled with risk. Every day, you take risks in your business. Some of these risks are calculated—after all, you must take on some risk in order to make a profit in your business. Other risks may not be so well known to you or may not usually be at the forefront of your mind. For example, you may carry insurance on the truck used to make deliveries in your business, but you may not think to—or can’t afford to—carry similar insurance on the computer used to track your deliveries or inventory. You live with the risk.
Smart business owners engage in this type of self-insurance almost every day in their businesses, unable to obtain certain forms of coverage because they are too expensive or unavailable on the commercial market. (more…)
Tags: captive insurance coverage insurance peter strauss risk self-insurance Strauss Law Firm
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