Archive for September, 2010

The recession has hit businesses hard.  Many are failing, closed and/or seeking help of financial companies to keep the doors open.  Burger King is struggling, Ruby Tuesday stocks have dropped, and many are seeking out small business loans just stay afloat.  However, McDonald’s is still going strong, and no matter what size your business, you could learn from the McDonald’s business practices implemented during the recession.

Prices Should Reflect the Recession

McDonald’s was smart.  The first thing they did was study the habits and demands of customers.   They took a hard look at numbers and buying practices and dropped the prices to reflect these demands to adjust to the recession.  This way McDonald’s does not lose any business or money during these hard times.  And if it is a product, such as a combo meal, where McDonald’s can afford to drop the price and still make money, then it is a win-win situation.

Advertising Needs to be More Effective

Dropping advertising costs is a great way to save money during a recession, but that is not enough.  You need to drop the costs, and use the advertising rates in the most effective manner.  McDonald’s lowered the advertising costs, but still pumped advertising efforts into low television advertising spots.  Television advertising has dropped significantly due to the internet, and social media outlets.  So by pumping in more commercials into television without spending any more money, McDonald’s is getting more for the buck.

If you are a business starting out or in the need of cash flow, talk to an unsecured business loan expert today.

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When running a business, there always comes a time when more cash flow is needed.  You need additional cash flow for expansion, emergency costs, and additional technology and/or equipment.  It happens regardless of industry.  Here we give you an overview of what small business loans are and how to get started today.

Why You Need a Small Business Loan

A small business loan is capable of providing additional funds for your business.  It occurs when business is doing well and you need more to pay for another location, hire more employees, or buy further products to sell.  Alternatively, a small business loan is wise when you need to cover start-up costs, including advertising and marketing expenses.

What to Prepare Before Meeting with a Lender

Prior to applying for a small business loan, your paperwork has to be in order.  You need to gather bank statements, vendor costs, employee salaries, rental agreements and more.  The lender will wish to review a thorough background of your current expenses versus how much money is coming in.  Therefore, have everything ready before applying or meeting with a lender.  Once this is accomplished, you are ready to apply for a loan.

How to Apply for a Business Loan

Applying for a small business loan can be a tedious and long process if you are ill prepared.  The best way to be equipped is with a checklist.  Make sure you have a balance sheets, business plan, list of how you shall allocate loaned money, proof of assets, how long you have been in business, sales sheets, and more.  Include a professional biography outlining your business experiences.  Having all this information upfront increases odds of qualifying for a small business loan.

To find out more, talk to one of our small business loan or unsecured business loan experts today.

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How to Build an Investment Portfolio

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When running your own business, you still have to think about investing and long-term.  You have to think about how to enhance your personal investments and allow it to grow over time.  It is important for one day you may wish to retire.  And you can’t retire without money in the bank to live on.  Here are some investment tips to keep you on the right track to retirement.

Diversify Investments

To diversify your investments means that you shall have money in various types of stocks and bonds.  The reason being is due to the fluctuation in different types of markets, brands, industries, and more.  For example, if one stock drops 50% but you have other money in bonds, then the bonds remain intact.  You have to cover it all so your entire portfolio doesn’t fall due to one unpredictable decrease.

Assess Portfolio

Once everything is diversified, examine the progress of your stocks and bonds.  Review what has been attaining a return and at what percentage.  You need to do this ensuring you are putting the money in the right selection and receiving the return expected.  It keeps your money on point.

Examine Choices

And over time, some of your stocks may increase significantly.  It may increase from 11% to 50% to 70% changing the percentage of division in your investments.  You do not want the majority of your money to continue in such a manner for then you lose the diversified investment efforts mentioned above.  So you need to check this regularly and make the adjustments accordingly.

If you need additional funding for your business, talk to a small business loan expert today.  Ask about unsecured business loans and what options are most suitable for you today.

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