In 2005, Berkshire Hathaway bought about a million shares of Lexmark. I haven't followed this story closely, but I assume the stock was purchased by Lou Simpson rather than Warren Buffett. I have only two reasons for believing this: the total purchase was small relative to Berkshire's investable assets and the Lexmark purchase is typical of Simpson's investment philosophy (or at least, what little I can glean about his investment philosophy from...more
Q: I started my business about a year ago and everything is going fine. We're growing and making a profit, but the stress of running the business is really starting to get to me. I spend more time worrying than working. Sometimes the pressure is almost more than I can take. I'm starting to think that I'm not cut out to run my own business. Do you have any advice that might help me decide what to do? -- Steven S.A: I'm full of advice, Steven, and...more
Business owners with poor credit ratings may find it difficult to obtain a loan for business purposes, such as expansion or to invest in a new product. Because lenders focus primarily on personal credit scores for business loans, you need to focus your efforts on going to the right lender for a poor credit business loan.Poor credit business loans are available to business owners who would not otherwise qualify for a conventional business loan. Before applying for a lender, take a few important steps to increase your chances of getting a poor credit business loan.1. Write a sound business plan.Having a sound business plan is your biggest asset in obtaining a poor credit business loan. The plan should be completed and should represent your business in detail. Pay the closest attention to your business' summary, which is stated at the beginning of the business plan. The summary is generally one to three pages in length, and details your business' management experience, marketing efforts and goals, business goals, and other information about the business. If the lender likes what they see in this summary, they'll read on.2. Rent, rather than purchase, business space.If you're applying...more
Network marketing is a business model that has very similar characteristics to franchising. However the advantage that it has over traditional franchising includes a low cost of entry and high potential revenue possibilities.What types of people are attracted to a network marketing opportunity? Generally the types of people who are attracted to...more
If you have a problem with cash flow, you might consider finding a company that engages in buying invoices to get you on the right track again. Often, through no fault of their own, small and large companies find themselves in a bind because they don't have enough cash to meet debt payments, to pay employees, or to invest in needed materials and...more
Amidst everyone's busy life, one may, in one time or the other, stop and think-one person has a steady nine to five job, generating a steady income, may want, or wishes that she can stay at home and be with the kids... but has no choice, one must earn, to make a living. Others, may not want to stay at home, but wishes still, could make a larger income and be their own boss. Others still, are not satisfied, or do not enjoy what they do at work, and again, wishes to find a job or a business that render them contented of what they do. And there are others who want, put quite simply, to create an income, without putting up a large capital. Then, there are those individuals that wants to generate income, in the comforts of home.These, I believe are the main reasons why people of today are attracted to the internet. When one opens up to the world of the internet, business opportunities are scattered everywhere. From finding and applying to jobs online, creating resume's, finding products, and then, being a merchant yourself. All these, with just a touch of a button. No need to go to the supermarket, which means driving your car and paying for the gasoline. No need to go job hunting,...more
One of the first questions people ask when they are purchasing something is, "What does is cost?". There is no exception when it comes to surety bond shopping. Unfortunately, bonds are really considered a form of credit and the same rate does not...more
I constantly receive questions and complaints from my creative professional clients about what to do when a prospect claims, "I can't afford your prices, but I want your services." My clients are frustrated, because they are usually being told this...more
"Failure is the key to success; each mistake teaches us something." (Morihei Ueshiba, founder of Aikido)Thomas Alva Edison failed in his experiment for thousands of times before he was able to invent the electric light bulb. Laurence Peter failed...more
Wouldn't it be great if you could get some of that money you spend on credit card purchases back every year? Well, you can. A cash back credit card is the way to go for people who want all the benefits of shopping with a credit card, plus the perks...more
You have seen them advertised on your television. Likely, you have gotten their solicitations in your mailbox. Your neighbor has one and he just got a brand new gas grille for free! So, what am I talking about? Cash back credit cards, of course....more
I just had a phone conversation with a client who had a familiar story to tell. He had built his business on the model of an entrepreneurial sales force. Give them a territory, pay them straight commission, and tell them they are in business for...more