Five Pitfalls to Avoid When Starting Your Own Profitable Business

Five Pitfalls to Avoid When Starting Your Own Profitable Business

Having a business of your own will no doubt position you as a wealth creator instead of a job finder. A profitable business must be able to have a decent return on investment. In the quest to achieving your desire to launch into the changing world of business entrepreneurship, there are some likely pitfalls that must be avoided.

 Slothfulness

Slothfulness can also be termed as laziness. It is a silent killer of destiny and ideas.

It can kill a business idea, before it even gets off the ground. Be ready to make endless sacrifice and work hard, if ever you desire to succeed in business. Most successful businesses were products of hard work and long hours of sacrifice.

 Procrastination

Procrastination is a very common disease that affects a lot of entrepreneurs and business owners. They wait for the big break and delay the start of their dream and vision in …

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Choose Your Working Capital Financing Source for Business Loans

Choose Your Working Capital Financing Source for Business Loans

You have choices in sourcing working capital finance and in business credit solutions.

It’s all about understanding the problem and knowing where to look for solutions, so let’s look at these two main problems. Understanding the problem is not something you should read, because as a business owner and financial manager in Canada you live with a ‘crisis’ or ‘challenge’ of capital every day.

Working capital is best understood as your operational capital, and you have an investment in receivables, inventory, that’s where your investment is currently located, and your goal is to monetize those assets in the best possible way.

Textbook definitions don’t really help us – our accountants and analysts ask us to get into the balance sheet, reduce current liabilities from current assets, and, voila! That’s working capital!

One of the biggest contradictions that you need to understand is the problem of assets, profits, liquidity, and turnover. …

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The Benefits of Taking Professional Financial Advice

Taking control of your finances can be an important step in securing your financial future. Taking professional financial advice can help you on your way.

Many of us will go through life without ever seeking financial advice from professional financial advisor, taking advice instead from friends, colleagues and online resources. While this may serve your needs to a certain extent you could be losing out.

You may want to seek professional financial advice if, for example:

  1. You are considering taking out a mortgage
  2. You are looking to join a pension scheme
  3. You are looking for an insurance deal
  4. You are considering taking an annuity
  5. You are looking to make an investment

The financial market is a complex place, with a huge range of products available whatever kind of service you are looking for. From mortgages and investments to savings and pensions, the vast array of products in each …

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Successful Ways to Manage Your Debt

Debt comes in all forms, a mortgage, a personal loan, a car loan, and student loans. Then there’s a multitude of credit cards and maybe even some medical expenses. Before you know it what you bring in each month is rotating straight around and exiting out the back door. The good news is that you can reduce your debt and start to see some of your hard-earned money remain in the bank.

Successful Ways to Manage Your Debt

Creating a Plan

You may currently have piles of bills sitting on a table with no way to pay them and choose to ignore them. However, they won’t go away. If you don’t pay them you will soon receive letters from collection agencies, flowed by many phone calls. Once this takes place your credit score is now in a poor status.  In order to unravel the debt you’ll need to borrow money from a family member, or if …

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Loans & Financing For Flipping Properties

If you are into the real estate world then you are probably pretty familiar with flipping properties. With flipping properties comes an array of loans & financing to afford the purchase of these homes and to afford the renovation costs. Flipping a home is what the real estate experts call rehabbing. A flipper will essentially have to revitalize a home. Rehabbing can be very complex. It can include an entirely new roof, knocking out walls to expand rooms, redoing the floor, adding onto a home, remaking the kitchen and getting new appliances. Rehabbing a property can easily cost tens of thousands of dollars. Covering the costs of flipping a home sometimes requires a flipper to look towards the help of a loan to support these costs.

Loans & Financing For Flipping Properties

Any Short Term Fix and Flip Loans chicago il are loans specifically for people who are wanting to flip real estate. Flipping real estate …

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