The Romans were the first civilization to sell promissory notes at a discount, beginning the industry of factoring. America was built largely on the possibilities of factoring, when colonial businesses were factored by Europeans willing to invest cash in exchange for the promise of large returns, and government bonds also use the same principles applied by businesses when they engage in invoice factoring.Invoice factoring is, at its simplest, the...more
Unfortunately to many of us the Internal Revenue Service (IRS) is one branch of government that can never be our friend and is often feared by some less reputable business owners. When the IRS is owed money, they will get it whether you like it or not. For those individuals who owe back taxes, the state or IRS may attempt to collect those owed taxes by wage garnishment through your employer. Once the wage garnishment is filed, the employer is...more
Many people who taken the initial step and become associated with Liberty League find that this is the first step leading towards a more fulfilling life. What are the other commitments you can make to speed yourself along the path to success?Firstly read as much information as you can about Liberty League's range of proven products. Explore the products section of their website and become knowledgeable about their life-changing programs and conferences.Secondly see what Liberty League and its products have done for others who have taken the same path that you are now following. Look at the results people have achieved, their success stories and awards that have been presented. This will help you visualize what you can achieve.Thirdly gain experience of Liberty League in a real life situation by contacting the person who introduced you, so that you can arrange to participate in an interactive business overview call. This will help you to understand the process and feel the excitement of becoming a member of the Liberty League community.This will take you to the fourth and final step which is to act and make the commitment to join the Liberty League community. You have discovered...more
What To Do If Your Business Loan is Not ApprovedWords that all business owners dislike hearing from a lender are, "Sorry, we just can't approve your loan." It's frustrating when your business loan is not approved, and it may feel like your business ideas are now a hopeless venture. Rather than letting those feelings of despair overcome you because...more
Summary: The author draws a lesson from a classic radio skit to show leaders how they might raise their activities to new levels of awareness and commitment. A classic radio skit by comedian Jack Benny involved Benny being held up on the street by a man with a gun. "Your money or your life," the gunman said to Benny, who portrayed himself in...more
In an ideal world, a CEO selects and preps a successor. He shows up at his retirement party, collects the gold watch, and heads for a life of bliss on teeing grounds and putting greens. His replacement hops onto the throne, transitions smoothly, and everyone lives happily ever after. Unfortunately, there's a big gap between the ideal and the real, because outgoing business leaders unknowingly take the wrong approach to succession planning.Most executives work on the premise that their successor must be worked through the ranks. This is a common mistake that rarely yields the results you want. Say you run a multi-million dollar a year firm, and you know that in the next ten years, you're going to step down. Your current strategy revolves around two main vice presidents and a cluster of managers. All of them are presently doing a great job, but none know how to fill your shoes at this time. The current plan is to take one or two managers and get them up to speed over the next few years so they can take VP-level positions: one for operations and one for finance. Then after a few more years, you'll start training them to do your job. So what's wrong with this approach?First, the...more
Last week's question from Anthony R. on how to choose the franchise that would best fulfill his life-long dream of owning his own business sparked a number of emails from other readers wanting to offer their two cents on the subject.Some folks...more
What To Do If Your Business Loan is ApprovedYour business loan is approved. Congratulations! It's one of the most exciting phone calls you can receive as a business owner. It means that your business has received the financing that you've desired for...more
Q: A friend told me that as a woman of Native American descent I might be eligible for a special SBA program that will help me start a small business. He said I could compete for government contracts through this program. Can you tell me what SBA...more
Do not feel pity on yourself if you have numerous debts and limited finance in your hands to repay. If you are a property owner and trying to spot a reliable loan plan which can easily deduct the debts in a single amount then bad debt secured...more
Unless you've been living under a rock, you've probably heard that "relationships are the most important part of business." In other words, people buy from people they know. If you want to make sales and build loyal buyers, building relationships is...more
When doing business, do not let your anxieties get the best of you in the business world. It is important to know how to handle your anxieties and stresses. As a result, here is a list of techniques and suggestions on what to do in managing your...more