Sunday, March 29, 2009
Business Financing Options For Trucking Companies and Transportation Brokers
Trying to get business financing for a transportation company in the current economic environment has been nearly impossible. This applies to both trucking companies and freight brokers. Most institutions are imposing a number of restrictions on their financing activities to the point where getting a business loan is very difficult. It's not that institutions don't want to make business loans - but rather - they have to be extra careful. For example, many institutions now require company financial statements for multiple years that must show profits. They need substantial assets as collateral, and usually require the business owner to have substantial assets themselves.
But, what happens if you can't meet this criteria? Are you basically out of luck? Not really. You just need to look elsewhere.
Let's look at a common problem in the transportation industry - cash flow. This affects brokers and carriers alike. They have expenses that they must cover immediately, such as drivers and repairs. However, they must also wait up to 60 days to get paid by their clients. If they don't have a cushion of capital to bridge the gap - their businesses fail. There is an alternative though - it's called factoring.
Factoring your freight bills bridges this gap in a simple and elegant way. It provides you with an advance on your freight bills, which you can use to cover your expenses. The transaction is then settled when your client pays the freight bill.
Freight factoring has a number of advantages and is easy to qualify for. Most factoring companies look at the credit of your client as the most important requirement (though not the only one) to provide financing. Although your client's credit is important, your company should be free of liens, judgments and tax problems.
Freight bill factoring is an ideal source of financing for startup and growing transportation companies, it provides financing to cover operational expenses while you focus on growing your business. One if the biggest advantages of freight factoring is that is tied to your sales - your financing line grows as your business grows.
Tuesday, March 17, 2009
Five Keys to Business Success
Many people think business success is all about being in the right place, knowing the right people, and having the right knowledge.
All that helps, of course. But true, lasting success comes from deep within ourselves - character traits that we nurture and grow.
The odds of achieving true success - whether in life or in business - can be increased or decreased by how well you cultivate the following.
1. Think positively.
My husband sometimes calls me "Pollyanna" because I insist on giving everything a positive slant. I wasn't always like that...it was a deliberate cultivation on my part. And if I can do it, so can you.
Why should you strive to think positively? Quite simply, successful people are positive people. That doesn't mean you need to walk around with a phony smile pasted on your face all the time. It just means that when you improve the quality of the way you think about things, you'll improve the quality of the outcome.
If you believe a situation will turn out for the best, then chances are your actions will follow your thoughts. The reverse is also true, which leads me to the next step...
2. Avoid the negative.
Negativity sucks the life out of you. It seriously does.
In fact, here's a quick exercise for you: Name three successful people who are negative. Can't do it, can you?
Many of us still haven't realized that negativity attracts negativity. Call it karma, call it the Law of Attraction, call it whatever you want. It's just a fact of life that people who are negative rarely succeed. We all know these people. It's like they have a little black cloud hanging over their heads all the time. They insist on making lemons out of lemonade. They're the ones we look at, shake our heads sadly and say, "But they had so much potential."
Why is this? Negative people believe if they don't expect too much means they won't be disappointed when it doesn't happen. Unfortunately, if they don't expect much chances are they won't get much. When you expect good things to happen, then you believe good things will happen, so you work toward making them happen.
We obviously can't totally avoid negative people. They're everywhere! But we can limit the amount of time we spend with them on a regular basis - unless, of course, you happen to be married to one or are a parent to one. If that's the case, perhaps you can try asking them to stop complaining or being negative when you're around. If this doesn't work, you may simply have to remove yourself from the room when they start.
3. Cultivate self-discipline.
People who do what they need to do when they need to do it are the people who will get to the finish line first. These are the people for whom self-discipline has become second nature. They may not have been born with it, but they have developed it over time because they know it's necessary for them to be successful in business and in life.
After all, if you have a hard time staying on track, or get easily distracted, how are you going to be able to focus on building your business? If you don't keep your promises to others or yourself, how are you going to build trust within your organization or your customer base?
Try this: start every morning by telling yourself that you are someone who finishes what they start; someone who keeps their promises; someone who does what they need to do.
Then do it.
4. Be self-motivated.
What's the difference between someone who lives a motivated life and someone who lets life dictate how they think and act?
Success.
People who are successful are people who are motivated. They don't sit around waiting for someone to tell them what to do - they figure it out for themselves and then go accomplish it.
When I hire people, one of the first things I look for is their level of self-motivation. The reason for this is because I don't want to have to micro-manage them. I don't want to have to be constantly asking them if they got it done. I want to hire the best person for the job, them let them go do it.
You don't have to be Tony Robbins, John Maxwell, or Stephen Covey to live an upbeat and motivated life. But one of the first things you can do to start living a motivated life is to read books by people like them. There are a lot of motivational books out there - find some that resonate with you. I usually have four books going at once, one of which is usually motivational in nature.
Another thing you can do is to seek out other motivated people. If you network with people who are positive and upbeat, you expand your horizons and opportunities.
5. Go the distance. Whenever I ask my daughter to do something that she feels a little nervous about, she inevitably says, "Sure, Mom, I'll try." Okay, I appreciate her willingness to try new things. But saying you're going to "try" is setting yourself up for failure.
Successful people go into every situation ready to give 110 percent. When you are focused on not just "trying" but "succeeding," chances are pretty good that you're going to get a lot closer to the goal.
Regardless of where you are in life or business, if you cultivate these qualities and persevere, you will realize your dreams and accomplish your goals.
All that helps, of course. But true, lasting success comes from deep within ourselves - character traits that we nurture and grow.
The odds of achieving true success - whether in life or in business - can be increased or decreased by how well you cultivate the following.
1. Think positively.
My husband sometimes calls me "Pollyanna" because I insist on giving everything a positive slant. I wasn't always like that...it was a deliberate cultivation on my part. And if I can do it, so can you.
Why should you strive to think positively? Quite simply, successful people are positive people. That doesn't mean you need to walk around with a phony smile pasted on your face all the time. It just means that when you improve the quality of the way you think about things, you'll improve the quality of the outcome.
If you believe a situation will turn out for the best, then chances are your actions will follow your thoughts. The reverse is also true, which leads me to the next step...
2. Avoid the negative.
Negativity sucks the life out of you. It seriously does.
In fact, here's a quick exercise for you: Name three successful people who are negative. Can't do it, can you?
Many of us still haven't realized that negativity attracts negativity. Call it karma, call it the Law of Attraction, call it whatever you want. It's just a fact of life that people who are negative rarely succeed. We all know these people. It's like they have a little black cloud hanging over their heads all the time. They insist on making lemons out of lemonade. They're the ones we look at, shake our heads sadly and say, "But they had so much potential."
Why is this? Negative people believe if they don't expect too much means they won't be disappointed when it doesn't happen. Unfortunately, if they don't expect much chances are they won't get much. When you expect good things to happen, then you believe good things will happen, so you work toward making them happen.
We obviously can't totally avoid negative people. They're everywhere! But we can limit the amount of time we spend with them on a regular basis - unless, of course, you happen to be married to one or are a parent to one. If that's the case, perhaps you can try asking them to stop complaining or being negative when you're around. If this doesn't work, you may simply have to remove yourself from the room when they start.
3. Cultivate self-discipline.
People who do what they need to do when they need to do it are the people who will get to the finish line first. These are the people for whom self-discipline has become second nature. They may not have been born with it, but they have developed it over time because they know it's necessary for them to be successful in business and in life.
After all, if you have a hard time staying on track, or get easily distracted, how are you going to be able to focus on building your business? If you don't keep your promises to others or yourself, how are you going to build trust within your organization or your customer base?
Try this: start every morning by telling yourself that you are someone who finishes what they start; someone who keeps their promises; someone who does what they need to do.
Then do it.
4. Be self-motivated.
What's the difference between someone who lives a motivated life and someone who lets life dictate how they think and act?
Success.
People who are successful are people who are motivated. They don't sit around waiting for someone to tell them what to do - they figure it out for themselves and then go accomplish it.
When I hire people, one of the first things I look for is their level of self-motivation. The reason for this is because I don't want to have to micro-manage them. I don't want to have to be constantly asking them if they got it done. I want to hire the best person for the job, them let them go do it.
You don't have to be Tony Robbins, John Maxwell, or Stephen Covey to live an upbeat and motivated life. But one of the first things you can do to start living a motivated life is to read books by people like them. There are a lot of motivational books out there - find some that resonate with you. I usually have four books going at once, one of which is usually motivational in nature.
Another thing you can do is to seek out other motivated people. If you network with people who are positive and upbeat, you expand your horizons and opportunities.
5. Go the distance. Whenever I ask my daughter to do something that she feels a little nervous about, she inevitably says, "Sure, Mom, I'll try." Okay, I appreciate her willingness to try new things. But saying you're going to "try" is setting yourself up for failure.
Successful people go into every situation ready to give 110 percent. When you are focused on not just "trying" but "succeeding," chances are pretty good that you're going to get a lot closer to the goal.
Regardless of where you are in life or business, if you cultivate these qualities and persevere, you will realize your dreams and accomplish your goals.
Tuesday, March 10, 2009
Planning & Research Are Important Before Starting Your Own Direct Sales Business
You don't want someone heading your team who does not motivate you, does not give direct sales booking ideas, does not hold meetings regularly or who is not available to team members. Do they possess good leadership qualities and will they be someone you can get along well with? You will also want to determine your own personality at this point. You will want to join a team you can feel comfortable with for a long time to come. Products Selling Potential
You will want to do some research about the product itself. Will it actually sell? Is it something people actually want or need. What kind of value does it offer for its price? You will also want to research any competition you may have should you choose to sell it. For instance, if there are 5 representatives for the same company in your town and you live in a small town, you may want to reconsider or choose a different area to market your business to for your direct sales success. Your Hard Work Pays Off
There are some companies who offer their top sales people and team leaders big incentives Think Mary Kay and the pink Cadillac. What do you have to do to reach that level? Can you receive other prizes along the way? How will you prove that you are a leader in your business to those you are trying to recruit? You will want to take this into consideration as it will make setting and reaching goals a lot more fun! Things like these smaller motivations are a great way to help you achieve your ultimate goals.
Always take into consideration the pros and cons of any direct sales business opportunity you are thinking of joining. Think about costs, value, the product itself, your market and the person recruiting you. Ask any and all questions you have before you sign up to avoid making the wrong decision and regretting it later. Your gut feeling about a company has a lot to say about it, too! If you find the company looks great on paper and everywhere else, but you just do not have a positive feeling about it, maybe you should look elsewhere for another direct sales opportunity or a different team with the same company.
WBO Talk Radio is not just another online talk radio show for female entrepreneurs. Its goal is to educate, network and support the woman behind the business
You will want to do some research about the product itself. Will it actually sell? Is it something people actually want or need. What kind of value does it offer for its price? You will also want to research any competition you may have should you choose to sell it. For instance, if there are 5 representatives for the same company in your town and you live in a small town, you may want to reconsider or choose a different area to market your business to for your direct sales success. Your Hard Work Pays Off
There are some companies who offer their top sales people and team leaders big incentives Think Mary Kay and the pink Cadillac. What do you have to do to reach that level? Can you receive other prizes along the way? How will you prove that you are a leader in your business to those you are trying to recruit? You will want to take this into consideration as it will make setting and reaching goals a lot more fun! Things like these smaller motivations are a great way to help you achieve your ultimate goals.
Always take into consideration the pros and cons of any direct sales business opportunity you are thinking of joining. Think about costs, value, the product itself, your market and the person recruiting you. Ask any and all questions you have before you sign up to avoid making the wrong decision and regretting it later. Your gut feeling about a company has a lot to say about it, too! If you find the company looks great on paper and everywhere else, but you just do not have a positive feeling about it, maybe you should look elsewhere for another direct sales opportunity or a different team with the same company.
WBO Talk Radio is not just another online talk radio show for female entrepreneurs. Its goal is to educate, network and support the woman behind the business
Thursday, March 5, 2009
How to Grow in a Recession
With the way the economy is right now, it is difficult for many companies to stay afloat. Many businesses manage to get by, but barely. Others are forced to close their doors because of lack of sales. There are steps that businesses can take if they are wondering how to grow in a recession. By following a few easy tips, any business can survive and even grow during these tough economic times. The best ways to grow a business during a recession, such as the one we are experiencing now, business must make selfish business decisions, stay focused on the important topics and be persistent.
For a business to succeed during this struggling time, they must make selfish business decisions. This doesn't mean people should resort back to the behavior of a 3 year old. It simply means they need to make decisions that will generate the outcomes they need or want. If something won't be beneficial to the success or growth of your company, it is fine to refuse doing it. Although you may not have acted this way when times were better and the economy wasn't on everyone's minds, it is crucial for your business's success to act this way during a recession. Anyone who wants to know how to grow in a recession must act selfishly from time to time in order to keep their business afloat.
Another tactic people can take if they want to know how to grow in a recession is to stay focused. You have to zero in on what is really important for your business and pay the most attention to that. This relates to the selfishness tactic. You may end up avoiding topics you once spent time on, but it is fine as long as they aren't the most beneficial part of growing your business. You have to keep your targeted goals in mind at all times.
Being persistent is another tactic people use if they want to know how to grow in a recession. In any business endeavor, especially ones during a recession, there will be obstacles. The key to getting over them and growing from them is to see them as opportunities instead of problems. If you view them as problems, you will lose focus on your goal. By staying persistent, even when problems arise, you will be better focused on solving those problems and attaining your goal. You realize that growing takes time, especially during a recession. You also know that you are able to overcome the recession and grow during it.
By following a few tactics, such as being selfish, being focused and staying persistent, you will be able to know how to grow in a recession. Recessions are difficult on every business, simply because they are new and unchartered waters. People aren't sure what to do so they end up panicking. A panicked business plan will most often result in a dead business. By realizing what actually is important for your business, you will be able to stay focused on achieving those goals.
For a business to succeed during this struggling time, they must make selfish business decisions. This doesn't mean people should resort back to the behavior of a 3 year old. It simply means they need to make decisions that will generate the outcomes they need or want. If something won't be beneficial to the success or growth of your company, it is fine to refuse doing it. Although you may not have acted this way when times were better and the economy wasn't on everyone's minds, it is crucial for your business's success to act this way during a recession. Anyone who wants to know how to grow in a recession must act selfishly from time to time in order to keep their business afloat.
Another tactic people can take if they want to know how to grow in a recession is to stay focused. You have to zero in on what is really important for your business and pay the most attention to that. This relates to the selfishness tactic. You may end up avoiding topics you once spent time on, but it is fine as long as they aren't the most beneficial part of growing your business. You have to keep your targeted goals in mind at all times.
Being persistent is another tactic people use if they want to know how to grow in a recession. In any business endeavor, especially ones during a recession, there will be obstacles. The key to getting over them and growing from them is to see them as opportunities instead of problems. If you view them as problems, you will lose focus on your goal. By staying persistent, even when problems arise, you will be better focused on solving those problems and attaining your goal. You realize that growing takes time, especially during a recession. You also know that you are able to overcome the recession and grow during it.
By following a few tactics, such as being selfish, being focused and staying persistent, you will be able to know how to grow in a recession. Recessions are difficult on every business, simply because they are new and unchartered waters. People aren't sure what to do so they end up panicking. A panicked business plan will most often result in a dead business. By realizing what actually is important for your business, you will be able to stay focused on achieving those goals.
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