Tips to Help You Get a Home Equity Loan Lowest Rate Repayment Schedule

A lot of people have been asked what they consider to be a home equity loan lowest rate. Many people proclaim that the rate that they are looking at when they file for it is the interest rate on their loan. There are a few things that you can do in order to try to obtain the best rate imaginable for your loan.

The first thing that you need to realize when trying to obtain the least possible rate is that credit, as well as the equity that you have on your home matters. Those who have a substantially decent credit score will be able to have the least rate possible for their loan.

However, just like in the case of other loans, if your credit is not in the best condition, you can expect to have to pay back a little bit more than someone else who had good credit would have to pay. Many people declare that this practice is unfair; however this is the way that the world works.

There are many different lenders that have turned their attention towards offering people that do not have good credit scores home equity loans. Although, these lenders are present on the market, having a high credit score is always going to be something that will put you above all the rest.

When it comes to applying for an advance on your home, it is a good rule of thumb to apply for the loan through the same lender that you render your monthly mortgage payment to. The lender will already have all of your paperwork on file, and they will be able to let you know the amount of equity that you presently have on your home that you will be able to take a loan out against.

Remember, that an equity loan is simply working off of the value of your home in comparison to the amount that you still owe on your dwelling. The less money that you still have left owing on your home, the more money that you can expect to be able to borrow for a loan against your homes’ equity.

It is imperative that when you are trying to obtain the lowest possible rates for your home equity loan that you shop around for some of the best deals. Although, it would save you a lot of time to go through your current mortgage lender, there is no guarantee that they will approve you for the type of loan with the rates that you desire.

There are a plethora of lenders available that are willing to offer you the lowest rates imaginable. There are different ways that you can obtain a quote for your loan. These quotes are necessary because they will signify the amount of cash that you are going to need to pay as far as interest, the terms of the loan and the monthly payments that will need to be rendered.

A Sample Business Plan for a Small Business May Not Be the Best Way

You can find a sample business plan for a small business in all kinds of formats. There is a sample business plan for a small business where you basically fill in the blanks or you can have access to a sample business plan for a small business where you can pattern yours from it or you can develop a business plan that is centered on what you want for your dreams and your life.

I don’t know of better way than to let your business give you what you want for your lifestyle. Whether it’s a sample business plan for a small business or one where your business gives you a plan, it should tell you what is needed to take you where you want to go and when and how you can get there and it should be in clear simple terms, supported with all the specifics.

So using a sample business plan for a small business is just one of many ways to make a business plan but frankly I think designing one that will have your business give you exactly what you want is by far the best way.

So, why not start out with what you would like to have in life for you and your family? Then develop a business plan that could show you exactly what your business would need to do to give you that life style. If you think about it, there is no other way where you have more control over what you want in life than letting your own business do it for you. If you work for someone else, you’re sure not going to have as much control over your future.

So how would you go about making a plan like this? Well if you know a fair amount about business, you can. It will take some special calculations and some work but if you know how to put together a Profit & Loss Statement, you can probably do it.

You would first do a P&L for the present year for your existing business and the first year and as many years after as you would like to have your plan cover. Your existing business financials will be the foundation for building yourself a business plan for as many years out as you want. This data will tell you a number of things but first if you want to build your plan around what you want in life, you would need to decide some things about your life:

1. You would need to decide how much income you would like to have for yourself for each of the years you plan for.
2. You would need to determine what kind of profit margin you would want from your business for each of the years.
3. And by combining these 2 things into a P&L format you can develop a financial business plan that can extend as for into the future as you would like.
4. The first thing it will show you is how much sales you would need each year to give you the income and profit you would like. Once you see the sales needed, if you know your business well enough, you should be able to estimate those additional expenses needed to overcome capacity constraints that will occur as your business grows.

With this information you can actually predict not only what your sales will be, but you can see how much your fixed and variable expenses will be, what your labor cost will be, your material cost, and your profit.

1. So let’s first look at what exactly are fixed expenses? They are exactly what they say they are; they are fixed. This simply means these are expenses that are ongoing whether you have a lot of sales or “0” sales. They are expenses like utilities, taxes, rent, salaries other than the wages used in the making of the actual product or doing a service, business fees, telephone, etc. See how these expenses would continue on even if you have 0 sales? Any expenses that fall into this category are fixed expenses. Far too many small business owners never divide their expenses into fixed and variable. As a matter of fact, if you could have a business that had “0” fixed expenses; this would be the best of all worlds, why? If you had “0” sales, you would have “0” expenses. So the closer you could get to this the better you would be.

2. Variable expenses are those expenses that track directly with sales. If sales stop they stop. These are expenses like supplies used to support in the making of your product or doing your service. Such things as shipping cost for raw materials for your product or service. If you have no sales then you’re not going to be purchasing materials so your shipping cost for those materials will stop as well. As an example, if you have a lawn mowing business and there are no lawns to mow, then you wouldn’t be buying gasoline to travel to your lawn mowing site. These kinds of things are variable expenses. If you’re producing a product, it would include supplies used to produce that product like sand paper, glue, finishing materials, cutting tools, etc.

3. Labor and material costs are also directly proportionate to sales. These are things that go directly into the making of the product or into doing the service.

a. Labor cost is the actual direct labor used in the making of product or doing the service. The cost would also include all the fringe benefits like social security, payroll taxes, vacation pay, holidays, sick pay days, etc.
b. Material costs are all the materials used in the making of product or in doing the service. In the lawn mower service as an example it would be the gasoline used in the mower and any other materials used directly in that service. For producing a product it would be all the materials used in the product that is sent to the customer including all the packaging materials.

Average Selling Price

Now when you calculate your average selling price which is your cost of sales (material + labor) divided by (1-gross profit), you can determine how many customers you would need and then come up with what you think your conversion rate would be for converting leads to customers, you can determine how many leads you would need. Then from this and with the aid of the U.S. Census Bureau and some basic research on your own you can actually have a pretty decent idea of what size your market is and is going to be in the future so you can see if it will support your business plan or not.

So if you can put this all together, you can have a complete business operating plan that would show you exactly what your business would need to do to give you the income and profit you would like to have and a rough idea whether your market would support it or not. All you would have left to do would be to figure out how to make it all happen.

It’s like planning backwards.

1. Determine what you want in life
2. Figure out what your business would need to do to give you that life.
3. Figure out how long it would take you to reach it.
4. Figure out how big of a market it would take each of the years you’re planning for.
5. Then see if that market is big enough.

Isn’t this a much better way to go about planning your business? Shouldn’t your business be designed to give you want you want instead of you working yourself to death just hoping for the best?

So how would you go about calculating all this?

There is quite a bit of calculations and you should know a little about business principles but it isn’t that complicated. So first let’s look at figuring out your future needed sales with this formula:

Projected sales = fixed expenses divided by (1-(var exp % of existing sales + mat cost % of existing sales + lab cost % of existing sales + desired net prof %))

So, let’s say you existing sales is $850,000 annually, your fixed expenses are $275,000, variable expenses is $55,000 or 6.5% of the $850,000, material cost is $236,000 or 27.8%, labor cost is $109,000 or 12.8%, and your existing profit margin is $175,000 or 20.6%.

Now let’s say next year you want to have a profit margin of 25% so what would your sales need to be to give you that profit margin? Now you might think you would simply tack on 4.4% more to sales (25% – 20.6%) and you would have it. Well not quiet. it doesn’t work that way because you are going to have the additional variable expenses, material cost, and labor cost too. Remember, the more sales the more each of these expenses and cost will be.

So here is how you would do it:

Projected sales = fixed exp ($275,000) divided by 1-(6.5% + 27.8% + 12.8% + 25% (your new profit margin) = $896,057 (new sales)

You can do this for as many years out as you want. Obviously this is based on your first year’s fixed expenses remaining constant and no consideration of depreciation, inflation, or taxes.

But most likely you would need to increase your fixed expenses because you’re going to probably have more rent, utilities, or such as your business grows. So, you would simple put in your new fixed expense number in place of the existing one for each of the years you would be planning for.

So, you see if you decided you wanted a 35% profit margin at year 5 then you could see how much sales it would take to give you that.

Now it’s also important to know how many more customers you would need as well so you should always look at that unless you have another way of growing your sales other than with new customers.

Let’s say your average selling price for your service is $925.50 and you have one transaction per year per customer.

Using that first years sales example we used above, you would calculate it this way.

$896,057 divided by $925.50 = 968 customers needed for the year. Now if your average transactions per customer are more than 1, then you would need fewer customers. As an example, let’s say your average transaction per customers per year is 2.5 then 968 divided by 2.5 = 387 customers per year.

Now let’s say you estimate your conversation rate to be 3% of turning leads into paying customers with the advertising method you’re going to use, how many leads would need to contact to get 387 customers? Simply divide 387 by 3% and you get 12,909 leads you’re going to need to contact.

Then the question is; is your market going to be big enough to provide you with 12,909 leads for the next year and how many will you need each of the following years?

It may be easier than you think to figure this out. You would do some research and with the aid of the U.S. Census Bureau you can roughly determine whether your plan can be supported by your market or not.

So what do you think? Is it better to build a business plan around what you want in life then see how your business can maybe give you that or is it better to use a sample business plan for a small business where you are probably guessing?

38 of my 41 years were in management and leadership roles. Some of my disciplines were manufacturing operations and processes, quality systems including ISO, materials, supply chain logistics, engineering, purchasing, HR functions including union and nonunion operations, concurrent engineering from product design to the customer, and upper management, and supervision training. Experiences also included a number of special projects such as managing plant shutdowns, project director of facility relocations including feasibility studies, designing of lean manufacturing concepts for new operations, development and startup of new facilities, plant and process moves to new locations, and hiring and training of staffs and workforces for new locations.
All the years in those various positions offered great opportunities for leading, teaching, training, and hands on support for empowering managers and workforces. Environments were created that made it possible for people to reach levels of success they never thought possible. Success came because of the use of real leadership, lean principles, employee involvement, a trusting environment, good communication, continuous improvement, and solid operating systems. The results were people working toward an error free workplace, waste reduction, and a very positive attitude toward meeting goals and expectations. This resulted in labor content reductions, major reductions in labor turnover, major increases in inventory turns, reductions in cycle times, improved customer relations, strong teams, and improved employee satisfaction. I have had the good fortune to have practiced and proven that creating the right environment will cause people to want to participate in helping organizations meet their goals and visions because it is an environment that lets them build success for themselves as well helping everyone else build theirs. I believe strongly that you cannot motivate people but that the right environment is what motivates people.

Personal Loans Online And Bad Credit – 5 Ways To Navigate To The Loan You Need

There are a lot of different ways to get a personal loan. The term “personal loan” actually has a range of meanings. For example, each of the following qualify as personal loans:

  • going to a pawn shop and using your prize guitar as collateral for small loan
  • taking out a loan against your car by signing over the title to the lender
  • getting a loan against a future paycheck
  • going online and applying for an unsecured personal loan
  • taking out a signature loan at a nearby brick-and-mortar lender, meaning you put up no collateral other than your signature

Each of these loans is possible through a personal loan lender. Despite all of these various options for getting access to cash through this type of loan, it can be a different story if you have a bad credit score. Any FICO score under 550 or even 600 is considered bad by most lenders.

If you are interested in personal loans online and bad credit is a concern, here are 5 ways to navigate to the loan you need:

1. Be wary of everyday, run-of-the-mill personal loan lenders:

It is true that most personal loan lenders are used to dealing with people with less-than-perfect credit scores. That is why interest rates for this type of loan are usually much higher than for that of a mortgage, auto loan, or a home equity loan. Still, certain lenders actually specialize in working with bad credit individuals. Be sure to not just choose any older lender, but rather you should approach lenders who are used to working with people with low credit scores.

2. Come to terms with your credit report:

Nobody likes taking the time to go through their credit report with a fine-toothed comb. It would be so much easier to just skip that step and get on to the loan application. But, take a half hour or so and review your report in its entirety. And, prepare yourself to answer any questions that may come up about your credit history.

3. Ask a friend or family member where they got their personal loan:

If you know anybody who has taken out this type of loan over the past year or so, ask them the name of their lender and write it down.

4. Try a mix of online and in-person lenders:

Now, it is time to create for yourself a list of bad credit personal loan lenders. Not only is variety the spice of life, but it also helps when it comes to taking out a loan. Add to your candidate list of lenders both online and in-person (brick-and-mortar) lenders, such as those you have seen while driving around town.

5. Read the fine print before signing anything:

Once you have applied to at least 3 lenders, you should soon have one or more offers in your hand. Be sure to read the terms and conditions and other fine print before signing on the dotted line.

Home Equity Loans – Get a Home Equity Loan With a Revolving Line of Credit

People who have been doing investment or had done investment before know that finding ways to fund the purchase is always the problem that you have to overcome. Home equity loan allows the homeowners to use their house as collateral to avail loan. It is a good choice for purchase financing especially for those people who do not have other equities to be used as collateral. When you need money, you can write checks against the account in which your home equity loan is deposited into. Hence, the easy accessibility is another reason that contributes to the popularity of this loan. Read on to find out a summary on the benefits of home equity loan to the customers as well as lenders.

Benefits for customer:

This is a secured loan which gives you easy accessibility to cash. Although the interest rate of this loan is higher than that of a first mortgage loan, it is practically lower than that of other types of customer loans such as credit card loans. Because of this, many people use this to pay off their credit card loans. Via a fixed-rate, they borrow against the value of their houses to clear credit card debt which has higher interest rate. Furthermore, interest paid on this is tax-deductible. In addition, it can be used as a debt consolidation loan as well. To sum up, it gives you lower interest rate, tax-deductible benefits and single loan payment.

Benefits to lender:

With this loan, a lender, who are initially earning money from the interest and fees on the first mortgage of the borrower, are now earning more interest and fees. In the event in which borrower default, prior to the money they earn from first mortgage and home equity loans, they can resell the property that is used as collateral for home equity loans. What a win-win situation.

Overworked, Overstressed, Too Busy to Get Organized – How to Transform a Growing Business

I can see it coming. Maybe I’m developing a sixth sense for it. I run an operations management business and I regularly get calls from business owners saying; “I need your help. My business is taking off and I feel like I’m losing control”. The first question I ask always seems to be the toughest for them… When can we get together to talk? I’ve learned to anticipate that they will cancel one or two appointments before we’re actually able to meet. I plan for our first meeting to be away from their office so I am able to get their full attention.

Their business has typically been operating for three to five years, which means their business model is working for them and has begun gaining traction. They’ve passed the infant mortality point where many new businesses fail and have had some taste of success. They’re now at the point where they’re starting to think about taking their business to the next growth plateau.

The business operates in a mostly ad hoc mode. Up to this point they’ve managed to keep things on track by shear force. They’re beginning to realize that they can’t do everything themselves and they continue to hold things close because they feel they have to maintain control by personally making every decision. They’re not willing to delegate anything but the most trivial tasks. “My entire life is tied up in this business and it’s succeeding because of the energy I put into it.” They have in fact become the operations infrastructure of their business and they’re beginning to realize that they have now become the primary constraint on the growth of their business. Take a vacation, a sick day, a coffee break… Not likely!

Transforming these businesses requires an objective look at two areas: their organization and their operations. I start slowly by trying to find some activities the owner is willing to offload to others.

Businesses at this point in their development are usually organized on the “Conestoga Model”, meaning their organization chart looks like a wagon wheel. It’s a person centric organization model where the owner has become the hub of the wheel with all of the other functions circling around the hub. They may have made some attempt to change things themselves but I often find they were unsuccessful because they delegated responsibility without being willing to also delegate the authority to do the job.

The next step I take with clients in these situations is to begin transforming their organization to a more traditional hierarchical model. This is a difficult step for them because it means they have to be willing to delegate the authority to complete tasks along with the responsibility for completing them.

Completing the organizational change requires more than simply creating an organization chart. The new organization has to be designed to meet the businesses needs and to make best use of the resources at hand. Each block on the organization chart should have a defined mission statement and a set of goals. Owners who are already over burdened often revolt at the thought of doing all of this “useless paperwork”. “We have real work to do.” This a great place to recommend they bring in their new first line managers or supervisors to help and it also lets these people take ownership of their new roles. This is the point where I usually have to expand my role from working with the owner to working with their staff. Including the first level managers and supervisors in these activities has an amazing effect on the culture of most businesses once the staff realizes that the owner is saying I trust you and am relying on you to help grow my business. Kicking off the new organization can be difficult. “You mean I work for her now? But I used to work for the owner.” You have to plan to hold a lot of hands and mend some hurt feelings as you go through this exercise.

After the organization is in place you need to define a sustaining operations infrastructure for the business. You do this by assessing the businesses operations, identifying weak areas needing definition or improvement. I begin this by formalizing the workflows of the business. Remember, the operations infrastructure has to be able to support the restructured business in the future. I divide the operations infrastructure into the nine areas described below. Each area controls a major workflow through the business so, by definition, each infrastructure area crosses organizational boundaries. Don’t, for instance, limit the sales and marketing infrastructure to the sales and marketing department.

CUSTOMER SATISFACTION: The customer satisfaction infrastructure has to be designed as an integral part of the business operations and not simply included like a facade over the front door. Every employee needs to learn their customer satisfaction role. The customer satisfaction infrastructure defines the role of functions such as product support, requirements definition, and quality assurance.

PRODUCTION/SERVICES: The production/services infrastructure defines the methods that will be used for the delivery of all products and services and ensure that this is being done in a safe, compliant, and consistent manner capable of bringing all products and services fully to market.

INFORMATION MANAGEMENT: It would be a tremendous understatement to say that all businesses today are information intensive. The information management infrastructure includes the IT systems but can be much wider in scope.The information management infrastructure defines the methods for protecting all business data, the electronic tools that form the backbone of the business, printed material and all media that is used to support the business. All personal privacy and security controls need to be addresses here.

SALES AND MARKETING: The sales and marketing infrastructure supports the businesses primary goal; to sell products and make a profit. It defines the methods used for everything from pricing and lead flow needed to support the sales pipeline to the methods used to develop new products and markets including the use of competitive and strategic analysis as assessment tools.

ORGANIZATIONAL: The definition of the organizational infrastructure includes the formal and informal structure of the business. It includes the organization chart that forms the command and control structure plus the informal structure that becomes the culture of the business.

PERSONNEL: The personnel infrastructure defines the working relationship between the business and its employees and between employees including the roles and authority of the management team. It defines the benefit strategy and compensation plan plus the procedures for hiring, firing and everything in between.

FINANCIAL OPERATIONS: The financial operations infrastructure forms the framework for all financial operations of the business. It defines all financial authority and controls including AP/AR, payroll, cost account and project management, plus the definition of methods to be used for budgeting and projections.

LEGAL OPERATIONS: The legal operations infrastructure forms the framework for all legal operations of the business. It defines all legal authority, professional licensing and controls needed to support the business on a continuing basis. It defines all activities used to protect the business from legal risk and liabilities and to ensure the compliant operation of the business.

INSTITUTIONALIZED PROCESSES: The institutionalized processes infrastructure includes the definition of all formalized policies, procedures and methods that guide the businesses operations. Methods such as ISO, CMMI, Six Sigma, Enterprise Risk Management (ERM), Lean or Quality Management Systems (QMS) where the business needs certification to qualify for a market driven process are defined.

It is important that the infrastructure areas be documented but this doesn’t mean it has to be a voluminous set of policies and procedures or that it has to be completed overnight. The infrastructure needs to be formalized to be effective and repeatable but applying the “Keep It Simple” approach works well here. Complex procedures don’t get read so plan to start light and build as needed in the future. After base lining each of the infrastructure areas (and training employees on their use) the final step is to establish a continuous process improvement program so that the infrastructure will continue to evolve along with the business.

The actions described in this article can be intense for a small business because it strikes at its culture. The cost of transitioning the business to support its next level of growth will be offset by the improved efficiency and through the resulting decrease in operations risk. It may not be an immediate goal of the owner but these steps are an excellent way to position the business for a future M&A event or to raise investment funds to support the additional growth.

Best Bad Credit Personal Loans – 5 Tips For Faster Personal Loan Approval

Love and money: two things that pretty much everyone agrees are needed to make the world go around. And, no matter how much love you may have in your life, without money you simply cannot afford to buy (or otherwise pay for) the things you need to live, thrive and survive.

Most of the time, balancing one’s checking account each month is a fairly straightforward process; over time, we get to where we can see what is coming down the road of our financial life and we can plan accordingly.

However, there are times in everyone’s life when an unexpected expense can seem to pop up out of nowhere and surprise us. Such expenses are never welcome, but they are a fact of life for everybody now and then. No matter how well we plan things out, sometimes our current cash flow will simply not cover those unexpected expenses.

When you face this type of surprise expense, you will no doubt immediately start thinking through your various options for how to pay for it. For example, you may decide to borrow money from a family member or friends. Or, you may decide to take out a personal loan from your bank or an online lender.

If you are looking for the best bad credit personal loans, there are 5 tips for faster personal loan approval that you should know.

The first tip is to decide whether taking out a personal loan is the best path to getting the cash you need. After all, you will have to pay interest on the loan, which you would not have to do if you were to borrow on a no-interest basis from somebody you know personally. And, the interest rate on a personal loan will be higher than it would be for, say, a home equity (second mortgage) loan.

The second tip is: consider saving money on interest by taking out a secured personal loan. You can reduce the amount you pay in interest on the loan if you are able and willing to put up something in the form of collateral. Anything of value – even a future paycheck – can be used in this way. A secured loan will have a lower interest rate associated with it than will an unsecured loan.

The third tip would be to explore your credit reports in detail. Be sure to order your report online from each of the Big 3 bureaus. Remember, if you are a U.S. citizen, you will get access to each report one time per year for free. Knowing the contents of your reports will better prepare you to negotiate the details of the loan with your bad credit personal loan lender.

Next, as a fourth tip, locate some viable bad credit personal lenders. You will want to make sure that your list has at least 5-7 lenders on it: the more lenders on your list, the better your chances will be of getting that perfect interest rate and overall loan offer for you.

Finally, the fifth tip is to simply be savvy when negotiating with the lenders on your list. Being savvy means not taking for granted anything that they say or offer. Do not agree to any loan until you have read all of the fine print. And, of course, be sure to explore all of your loan options before you sign any personal loan agreement.

Home Equity Loans For People With Bad Credit – 5 Tips For Faster Funding

A home equity loan may be just the thing you need to get you out of a sticky financial situation. But, what do you do if you have a low FICO score – say, one under 600?

If you are looking for home equity loans for people with bad credit, here are 5 tips to help you get funded faster:

1. Have an intended purpose for the money you want to borrow:

If you are like most people who want to borrow money against their home’s equity, you probably just have a vague sense of how much you want to borrow – and how you intend to use the money. Sure, there may be one particular expense that you would like your loan to cover, but beyond that you just want a little extra.

When possible, do your best to map out exactly how much you need and how you will spend it. The wisest choice for spending your loan money is often through the paying down of high-interest credit card debt or paying off medical bills. However, ultimately you may use your home equity loan money for anything you like.

2. Get a sense for how much equity you have in your home now:

Either have a formal appraisal done on your home or just ask a realtor friend to provide an MLS listing-based estimate of what it is likely worth (based upon equivalent or similar homes in the area). Either way, once you have a sense of the value, you can determine whether you have equity in your home. As long as you owe less than it is worth, you should be able to find a lender willing to extend you a loan.

3. Do what you can to raise your credit score as much as possible:

Now, if you have the time, take steps to improve your credit score. Start by reviewing your most recent credit report. Then, look for any mistakes that might be removed in order to improve your score.

4. Be sure you are contacting the right home equity lenders:

You will not want to approach 90% of home equity loan lenders out there, given your credit score. Rather, you should directly contact 4 or 5 of those that bill themselves as “bad credit home equity lenders.” These are the ones who will look past your credit score, finding instead other ways to judge whether and how you are credit-worthy.

5. Spend a little extra time applying to as many lenders as you can:

It just takes about 30 minutes or so per lender you apply to – at least to fill out the initial application. Therefore, spend some extra time applying to as many lenders as possible. Even if you get an offer from the first lender you apply to, go ahead and follow through by applying to the rest of the ones on your list. This is a best practice that can help you land the best interest rate on your home equity loan.

16 Secrets to Finding a Legitimate Work at Home Business The Average Person Can Do!

What are the secrets to finding a legitimate work at home business the average person can really benefit from. There are at least 16 secrets to finding a legitimate work at home business for women or men. If you’re just starting to look into the work at home world or have some experience; don’t launch into something with all your heart and effort to later be disappointed.

A good checklist will help you avoid a lot of wasted time, money, energy and nightmares.

This checklist will help you to make most of the crucial decisions before launching your work from home business. In fact some of these secrets you will remember for the rest of your home business or Internet business career.

Money can be made on the Internet, and lots of it! In fact unlimited! When I began doing my investigating of home businesses; I was able to rub shoulders and visit the homes of home business marketers making anywhere between $20,000 a month and up to $50,000 a month. They are generally those who have become very experienced, but you can find programs that you can get into right away and make $1000 to $10,000 a month or more which can be accomplished by women or men despite education or time constraints.

“Someone said, you can work for a living or you can work part time for a Fortune.”

If you will study these home business secrets, you will discover the principles you will need to make a part-time fortune.

1. Tangible Product That Is Needed in Today’s World. Concentrate on programs or products that are needed by most people in today’s world. The best product is one that needs to be purchased monthly! Think of a product that most people need to replace, re-use or purchase on a monthly basis. For example, toilet paper. You definitely need that every day. I often wonder how many wealthy toilet paper tycoons there are?

There are many great products and services to promote in a home business. You can earn big commissions to sell them. HOWEVER, would it be better to make a $39 profit just one time, or a $10 profit over and over again indefinitely?

It has been well said, that when you sell a product that will pay you only once, you are making money that is going to benefit the company more than yourself. But, if you sell a product over and over again, month after month you are making an income that is going to benefit you.

Let’s use weight loss as an example since I myself promote a weight loss and health product. If you’re selling a number one weight loss product in North America and it needs to be purchased every month you only need to make one sale and reap the benefits over and over again. When you gain a customer, you have a monthly reoccurring sale for the effort of the initial sale.

2. The Truth about Free Home Businesses. There is no such thing as a free business!

Despite all the hogwash you read about making $1 million and never spending a dime; ladies and gentlemen, it might happen once in a million years! But don’t hold your breath!

It’s always going to take some money to make money on the Internet or with a legitimate home business that you can be proud of working. The good thing is it takes a whole lot less to start a work from home job. Also, even though you can join almost any Internet program FREE; realize it only gets you in the door; and without benefits to actually make a financial profit. Normally, you get what you pay for.

The Internet world is so jam packed with opportunities, if you look around you can find most of the components that you would need for successful business. But it takes some work. You have to know WHERE to look, WHAT to look for and HOW to put it together. Often times than not, the learning curve can be very involved.

So whatever you do, you’re going to have to invest some money in the form of cash or time. Cash can help you shorten the time and time can help you use less cash. You will have to determine where to balance the time and money you put in.

3. Do Not to Put All Your Investments in One “Boat.”

The best home businesses entrepreneurs will diversify their businesses. Getting involved in a program or selling a product with multiple sources of income is what you want to have! If your business has more avenues of income, it will be more stable and you will be less likely to go under.

Can you imagine if you invested all your time and effort in an Internet program and after one year it disappeared! But if you learn the proper way to diversify your investments, then you may only lose one arm of your business instead of the whole thing!

Considering the condition of the economy; where would it be better to place your 10 gold nuggets?

Would you put your 10 gold nuggets in one bank or would you put it in three different banks? The answer is obvious. Three banks would be the best prevention from being wiped out financially all at one time.

If you were promoting the best weight loss program in America and all of a sudden the company goes down. What do you do? Make sure you diversify and also have a plan to quickly recover any loss of monthly income

4. Why Multilevel Marketing?

Multilevel marketing, network marketing and what we have often heard as “pyramid schemes” have given home businesses a bad rap. Really, multilevel and network marketing is a concept that happens in almost every business and social organization in existence.

It’s not the system that’s wrong. It’s people who have used a perfectly legitimate business tool to use in a wrong way. It’s no different from saying that cars are a “scheme” because people are using them to transport and hide drugs as they come across the border. Does that make cars bad? Of course not.

Neither is there anything wrong with multilevel marketing and network marketing. It actually is very powerful and gives a team of people the ability to not have to work as hard and be able to make more money or have more time and freedom.

5. Why You Shouldn’t Sell Pink Toilet Seats!

Know the difference between selling and marketing.

One of the biggest mistakes many home business and Internet business owners make is not knowing the difference between selling and marketing. Most of us look for something interesting to sell, or something we like to sell and hope for the best.

However, an “internet marketer” evaluates the market and determines what products are the most popular products. Their objective is to find what’s hot and what’s not.

There is nothing wrong with taking into consideration what you have a passion for or a gift for marketing; however, don’t get stuck on promoting what suits your fancy. Most successful home businesses have learned to find hot products and market them as long as they remain hot.

6. Know for Sure Programs Work before You Invest Your Effort.

Now, that sounds like common sense; however, many new business owners concentrate on programs because it’s comfortable for them. They like them. It was the first one they learned. It’s easy to do. Easy to understand.They had enough success to make them feel good.

Many small-business owners never experience much success because they got stuck with what was comfortable.

However, you should be doing a particular business because it works well enough to produce the success that you desire.

Also, it’s very easy to get caught up in the work from home business hype. Don’t let your emotions lead you into making a decision that was not good. There are many home business gurus that are masters at making you think you have to act Now!

7. Working for Yourself but with Others.

Know that you can’t do it all by yourself!

Working alone is somewhat of a mirage. Sure, being your own boss is what work from home businesses are all about.

Everybody wants to be their own boss. Everybody’s tired of the 9-to-5 job. But even when you’re your own boss, the home business man/woman realizes that they will have to outsource, some of their work, or do joint ventures with others, and sometimes team up with others to make their business run efficiently and successfully.

8. What Do You Really Think of Your Service or Product?

Make sure to build quality into your product.

There are many businesses that have great marketing plans and vision but don’t necessarily have a quality product.

They may even make a lot of sales but because the product isn’t as good as the marketing, there is a lot of dissatisfaction.

If you are a promoter of a product that does not deliver the goods” it will have a lot of adverse effects in the short-term and long-term of your business.

It is hard to be passionate and promote something that you don’t think is of good quality. That’s why there is such a high failure rate of first-time home business entrepreneurs. They really aren’t passion about what they are promoting.

If say your weight loss program is the best in America and you know it’s not; it’s hard to have passion promoting it!

9. Have Promoters That Have Integrity.

If you are a promoter or distributor of a business which has deceptive sales practices, distributes dishonest information or is using other unethical practices; it doesn’t matter whether the company is making millionaires, the end result is not going to be good.

It is not the type of company that you would want your mom to be proud of.

10. Knowing the Leadership of a Company Can Tell You If It’s Standing on a Solid Foundation.

If you have a product that you are selling as an affiliate; investigate the leadership’s experience, education, etc.

Every consumer wants to buy a product that has quality. If it is a tangible product; the company needs enough financial stability to produce a quality product that the consumer wants to have.

Secondly, a good business will have a good foundational training program for their promoters.

Thirdly, a good business will have up-to-date technology which is important in today’s modern world. Especially with today’s social networking, Facebook, Twitter, cell phone apps and many of the other well-known social networking tools.

A good leadership will make sure these leadership qualities are part of their organization.

11. How to Keep Your People in the Business.

Your home business will have a way to encourage their promoters to stay in. You need a product that compels not only the purchaser to be a promoter but also the promoter to be a purchaser.

This is actually a very important secret that a good business should have, but is not necessarily required.

Why?

Because, if a product is really that VERSATILE, then it should not only be desired by the consumer, but even the promoter as well. If a promoter is interested in his own product, it will be that much easier to represent. There are many products with disability.

Also, if the consumer is so impressed in the purchase of the product, they will also automatically become promoters as well.

If you can find a product like this and it is a quality product; then you have probably FOUND A WINNER!

On the practical side; if promoters are compelled or even in some businesses required to consume their own product, they become more knowledgeable of their products.

When the promoters and consumers are using the product, more sales are made and everyone is benefiting because more money is being exchanged, more product is being used, and everyone is happy.

This generates much more income for the promoters and the consumers are happy also because they not only have a good product but also get additional benefits.

12. Real Freedom

Does your opportunity provides the average promoter an income that gives them the freedom they’re looking for?

So many home businesses and internet businesses do not really deliver the freedom that people are looking for. We are talking about finances as well as the freedom to have time to do more than just work.

If it does not provide the financial freedom and the freedom of time for the average promoter, it’s not a winner.

For example; the weight loss program that I personally promote works for women who have to stay in the home and can still work while taking care of family duties. It also will work for men or women in the workforce who want to work a legitimate part time business.

13. Have Products That Are Desirable for a Large Segment of the Community.

Which products do you think are easier to promote; toilet paper, cups, forks & spoons, water and food or do you think it’s easier to promote purple toilets, alkaline water machine ($2000 cost), metal chopsticks, etc.

Really, it’s not always about whether a product is good for you or not. It’s about whether it’s desirable by the consumer. Does the consumer want it? And is the consumer willing to pay the price? Sometimes the consumer wants it desperately, but not desperate enough to pay the price?

Some businesses have an extremely good quality product but the price is so undesirable that the average consumer is not willing to purchase it.

14. Rewards and Benefits.

Does your company have incentives and rewards that compel the promoters to reach higher goals. The main product that I promote does such a excellent job of this, that they have given away more incentives and rewards than most companies give out in commissions.

If you are promoting affiliate products in your home business that provide incentives and rewards that compel you to move more product you probably have found an exceptional company that has learned how to reward its promoters.

A good quality program will have built-in reward systems that inspire promoters to reach high goals.

15. Find out If the Cup and He Really Cares.

Does your program genuinely care for consumers and promoters alike. If you have any hint that your company deliberately does not put care into their promoters or consumers, jump ship!

It should be clearly evident in the marketing and the product that both the consumers and promoters are genuinely cared for.

16. Money, Money, Money.

Does your company have a compensation plan that shares profits generously..

Make sure that the compensation plan is reasonably attainable. Don’t spend one year of your life thinking you’re working a legitimate home business and find out that the amount of money you want to make is not even remotely possible. Count the cost before you start.

Most, if not all of these secrets are required for a good business. If you use this list as a guideline for evaluating legitimate work from home businesses, you are starting on the right track.

Bad Credit Instant Approval Personal Loans – 3 Ways To Faster Loan Approval

An instant approval personal loan means different things to different people, depending upon whom you ask. For some, getting qualified and funded for a personal loan means one or more of the following things:

  • a rescue squad for your cash flow situation
  • the chance to pay off mounting bills
  • getting the monkey of debt collectors off your back
  • the ability to pay for a big expense like a marriage or a funeral
  • the chance to pay a much-needed visit to family who live in a faraway place

Whatever your reason for wanting a personal loan, you are not alone: thousands of people qualify for this type of loan every day. Many who qualify have stellar credit scores, while others have fair, poor, even bad credit scores.

For anybody looking for a personal loan who has a bad credit score, it is important to understand how creditors see you differently than they do your good-credit-score friends. And, in order to get approved, it is also essential that you learn how to shop for this type of loan in a way that improves your chances of loan approval.

If you are looking for bad credit instant approval personal loans, here are 3 ways you can improve your chances of loan approval:

1. Understand how your credit history affects your loan options:

Lenders look for one thing when deciding whether to approval an applicant’s loan application, namely: how likely is this person to repay the loan? This type of thinking is summed up in a single word: risk assessment. The lower your credit score, the bigger the risk they judge an applicant to be. That is because the vast majority of personal loan lenders focus almost exclusively on applicants’ credit scores.

2. Learn where to shop for personal loans for bad credit individuals:

As someone who currently has a bad credit score, you know that this is hopefully only a temporary situation; someday soon, if you work at it, you can and probably will have a fair or even a good credit score. But for the time being, just know that you will be treated differently by most lenders due to your score. That’s okay: just make sure that you approach the right type of lender. Specifically, you need to find personal loan lenders who advertise themselves as “bad credit personal loan” lenders.

You see, these special lenders look at risk in a very different way than do standard lenders. These bad credit lenders do not just look at your credit score and make a quick yes/no decision on your loan. Rather, they take a more sophisticated approach to reviewing your credit report. That is how they determine your loan decision and what interest rate you pay.

3. Have the endurance required to apply to multiple lenders:

Bad credit lenders have been known to extend loans to people with just about any possible credit score. That fact alone should give you the courage you need to follow through with applying to multiple lenders. Do not stop after just one: be sure to apply to at least four or five lenders. That is how you can secure the lowest rate, which will save you money. So, have the endurance the follow through with applying to all of the lenders you can find.

Home Equity Loans – Affordable Borrowing Solutions

Maybe you have heard the term “home equity loans” a lot lately. It is a very common form of credit among homeowners. Maybe it’s left you scratching your head and wondering just how do home equity loans work?

Basically, a financial institution loans money to homeowner. Borrowers use their property as collateral. This is risky because if the loan cannot be repaid then the institution gets the house. However, this type of loan is favorable for many homeowners because it places a large amount of money in their hands to use as they need it. This is a good option for those who do not have the best credit rating. Many use the home equity loan to consolidate several debts which reduces the monthly payments greatly.

Lending institutions are lenient with this type of loan. They are sure the borrower will pay as they have already invested in their homes and built up equity. They are also sure to pay the loan so that they do not lose their home.

A home equity loan can have several advantages. For one they usually have a lower interest rate than most other types of loans. For those who have bad credit these types of loans are easier to obtain. Many times the interest on an equity loan can be counted as a tax deduction. Depending on the amount of equity in the home a substantial amount of money may be obtained.

There are no guidelines or stipulations on how the money can be spent. This means that a borrower can use it for anything from obtaining further education for family members to taking a much needed vacation. These are common uses as well as remodeling the house. Some use it to consolidate other loans that may have higher interest rates. Some even use the amount to purchase other properties including another home.

There are a couple of things to watch for if you decide to get a home equity loan. Be sure to carefully read all of the terms of the loan. Also make sure that you can meet the repayment terms since you are putting your home at risk if you cannot pay. Talk to several different lending institutions before you decide on one. This will ensure that you will not get scammed out of your home. It will also ensure that you get the best terms available for repayment.