Whether it's a business loan or a personal loan, there are several common loan application mistakes that many businesses and individuals often make when applying for a loan. Avoiding loan application mistakes is your most valuable tool in being approved on a loan. The following common loan application mistakes can interfere with loan approval.1. Being unaware of your credit rating.Before even attempting to get a loan, know where you stand....more
In today's ever changing economy, it's hard enough for the average working individual to make ends meet, without a wage garnishment, while supporting themselves or their families. Sometimes living pay check to pay check with the regular bills and sudden unexpected expenses is hard enough without having an old student loan debt rear its ugly head to bite you in the wallet. Borrowers who have not made voluntary and timely payments to the...more
Q: One of my former employees has started a competing business and is calling my clients and trying to steal their business from me. Do I have any legal recourse against him? -- Brad J.A: I hate to break this to you, Brad, but unless this former employee signed a noncompete agreement while on your payroll, there is probably very little you can do to stop him from wooing your customers. You should discuss the situation with your attorney, but unless this person is also breaking the law in some other way (using stolen trade secrets, for example) your attorney will probably concur with me.Renegade former employees riding the free enterprise wave is one reason noncompete agreements are gaining in popularity among employers who hope to use them to help protect their business from competitive threats launched by former employees. Many employers are now demanding that key employees sign noncompetes as a stipulation of employment. While signing noncompetes usually doesn't sit well with employees who view them as potential roadblocks to their upwardly mobile career path, many businesses will not hire a key employee without his or her signature on the dotted line.A noncompete agreement...more
Last week we discussed the importance of performing an autopsy on a dead business. No, I haven't been watching too many of those wonderfully graphic, TV forensic investigation shows. The reason I recommend you do a business autopsy is to uncover the exact reasons why the business died. This is valuable information that can not only heal...more
Have you ever focused on something so intensely that your senses seem to shut off? Imagine being a jockey at the helm of a Belmont Stakes contender. Your horse is breathing hard, but you barely notice it. Your body is rocking in tune with the flow of the horse's gait, but you hardly feel it. The resounding cheers of 120,000 screaming...more
Flexible-benefits Plan (FBP) is an employee benefits plan which helps the employees' to save considerable amount of taxes by paying certain expenses from their pre-tax income. Some of the eligible expenses from pre-tax income are medical, vision, dental, elder care, and dependent care. All state employees who get a regular paycheck are entitled to participate in the flexible-benefits plan. Flexible-benefits Plan mainly boasts three components:- Health Flexible Spending Account (HFSA) - Dependent Care Reimbursement Account (DCRA) - Health insurance premium deduction Flexible-benefits Plan's reimbursements are made occasionally, mostly once in a week. You will receive statements which helps you to keep updated on your account. Quick information about your account can be accessed with the help of customer service line or email. Due to the program's tax exempt features, the federal government strictly regulates the Flexible-benefits Plan. FBPs are regulated by sections 125 and 129 of the Internal Revenue Code (IRS). Hence it is advisable to review the IRS rules before you enroll. If you wish to enroll in the FBP, then it is better from your part to discuss how the...more
I was asked the other day what personality traits I thought were important to entrepreneurial success. I immediately gave my preprogrammed reply about passion and dedication and hard work. After taking some time later to ponder the question a little...more
A poor credit business loan is designed for a business person or persons with a poor credit history.In the life of a business, virtually all come across a time where extra money is needed for business growth, expansion, a new venture, or paying...more
Much of business involves inducing people to do what we want them to do. Whether it is to sign a proposal, return a call, set up an appointment, provide information or pay a bill, we are constantly nudging.In business, to exist you must persist. But...more
IntroductionSupervisors must make sure that they shift their focus from the work itself to the people who do the work - supporting their needs, developing their abilities, removing obstacles and making resources available. They need to make the...more
HOT STOCK PICK FOR THE WEEK:InnerWorkings (INWK) is setting up in a cup and handle chart formation and looking to move higher. InnerWorkings provides print procurement services to corporate clients in the United States, and boasts earnings and...more
What do the major generals who are leading the war efforts in Iraq have in common with executives and entrepreneurs who are conducting business back home? When it comes to leadership, the answer is probably a lot more than you think.In a recent study...more