Never eliminate this from your budget plan

Aug 7, 2017 | Posted by in Business, Business Plan, Business Tips | Comments Off on Never eliminate this from your budget plan

Creating a budget is one of the right ways to manage finances. With the financial budget, we can better know how much we have to spend for our needs during a certain period of time, for example a month.

financial plan

But sometimes, despite already using the budget some people are still wasteful in using the money. There are many ways to save money. You can stop eating at restaurants, stop buying new clothes, or buy unnecessary items. But what goods should you really never cut from your budget.

Here’s a list of items you should not cut into your financial budget for any reason:

Health Insurance

Did you know that two thirds of all bankruptcies are directly related to medical bills? If you have serious injuries or illnesses, your medical bills may drop to millions. That’s more general than you think. If your boss does not offer health insurance, buy your own personal insurance. If you feel that an individual plan is too expensive, consider the cost of not owning it.

Home Insurance

After the costs associated with your health, the second largest bill you may have to pay is your home costs. If a disaster strikes at your home and causes destruction, you no longer need to bother looking for your home improvement fund. Home insurance can help you protect your home and help in case something happens.

Car insurance

It violates the law to be ridden without at least the minimum amount requested by the state from car insurance. It does not cost much more to give you a little extra coverage that will pay compensation for both cars and other party vehicles. You also want a liability protection that includes bodily injury in the event of an accident.

Emergency Fund

You will be amazed at the peace that you will experience when you know that you have several months’ salary to deal with emergencies that may arise. Therefore, it is important to set aside an emergency fund each month in the budget. Reassess your insurance policy at least once a year to ensure that you have adequate coverage. Having inadequate insurance is almost as bad as not having it at all.

4 Smart Tricks to Get Rid of Debt Quickly

Jul 10, 2017 | Posted by in Business, Management | Comments Off on 4 Smart Tricks to Get Rid of Debt Quickly

Debt or loan is one of the most common solutions people make when experiencing financial problems. However, do you know that most of the debt actually backfires to the borrower because sometimes when they owe they do not pay attention to long-term risk.

time

In this case certainly can not be said if debt is a bad choice, because it could be the only debt available when people feel pressed.

Indeed, when the time comes to pay the debt will seem like a monumental task, then is there any way that can be done to pay off the debts that have been borrowed?

Reporting from the NZ Herald, here are some smart tips to be able to pay off debt quickly, what are ?:

1. Prioritize Debt Repayment with Highest Interest

The most logical way to pay off debt is by landslide method, which begins by paying the debt with the highest interest rate.

Because, this debt is the next will continue to grow the fastest unless you can immediately overcome and discipline in terms of payment.

2. Pay Little Debt First

In Neuroeconomic science is mentioned psychologically sometimes good to deal with smaller debts first. This is because it can make a huge debt will look to be smaller parts.

3. Switch to low-interest loans

If you have a lot of debt on credit cards or bank installments, you may be paying too much interest. We suggest contacting your bank, check your credit installment and look for other options, such as choosing a low-interest installment

Some people usually choose to consolidate their loan into one payment in one bill, because in the bill will show how the amount of debt and interest.

But be careful that low installment charges do not make the situation worse with you paying off new debt. And after getting out of debt, always remember not to use your credit card again, unless it’s a very urgent situation and no other way. Begin training yourself not to be easy to owe.

4. Get a Part-Time Job

To repay the debt, you need to find other additional money. Part-time jobs will certainly earn more money.

Look for a part-time job that suits your interests outside of prime business hours. Or you can also do online business selling goods in several online stores, now has a lot of people pursue online trading business and income earned is also okay, the important thing you want to try and think creatively.

The right strategy to apply credit for business

Jun 9, 2017 | Posted by in Business, Business Tips | Comments Off on The right strategy to apply credit for business

In the near future you are planning to start a business. After searching for existing theory, it was found that when wanting to start a business requires skill, creativity, networking, motivation, and determination.

cash payment

Although everything sounds as an ideal complete package, but in reality that is often discussed just the money capital. Applying for a loan or business credit in developing a business is in the options.

In order for you to not fail to apply for a loan or credit for that purpose, here are some steps to keep in mind:

Determine the good purpose of borrowed money

Of course the purpose of your loan is to do business. However when talking about loans for businesses, there are good reasons and bad reasons. And it can be a reference whether you are worth lending by the owner of the money.

Usually, a good reason is borrowed money related to the purpose of equipment financing, property purchase, long-term software development, or product development in a particular season – such as selling clothes in the Lebaran season.

Conversely, a bad excuse is that borrowed money is aimed at coping with the ongoing financial losses – if you are already starting a business before, building an office, or acquiring a business asset that is not essential.

Determine the lot of money needed

The lender will assess the size of your business. Therefore, do not underestimate the amount of money you want to ask. Because a small business does not ask for a large loan.

Meanwhile, when exaggerating the amount of money you want to borrow and not worth the value of your business, the lender will then question.

If necessary, try to have and prove it with a budget plan that is supported by the financial projections of the business being done. For example, by including a statement of profit and loss, as well as a reasonable cash flow statement.

Know your credit score

The lender will also make an assessment by looking at the credit score or the credit ability you have as a business owner. To be safe, try to get to the bottom of what the lenders are looking for, and how to compare the scores they have, with their expectations. So, you can calculate and measure the type of business and the amount of loan that can be submitted.

Compare loans

Each lender has different criteria and requirements. They also have different flowers. It is better you compare the first banks that have business credit. Do a little research for the bank you want to select. The easy way is to make a comparison of business loans online.

Create a document package

When applying for a loan, there are some documents that need to be prepared. In order not to rush and can apply for loans to several banks that have been compared, prepare some package documents needed.

These documents are usually like your data as a business owner and your business plan, financial reports and projections, personal financial information.

Not tired of waiting

All loans need to process. Therefore, do not rush to get a loan after filing. However, be diligent to check your status. In addition, some lending institutions will usually require additional documents.

This is the Five Habits of Successful Entrepreneurs

Apr 18, 2017 | Posted by in Business, Business Tips | Comments Off on This is the Five Habits of Successful Entrepreneurs

business successTo run a business, there are many aspects that we need to prepare. Here are five habits entrepreneurs should be noted that the pace of business can be a maximum, according to Melinda Emerson “SmallBizLady”, a leading business expert and speaker of the US.

Come 15 minutes early if there is a business meeting

Come on time means “late”. Hour break before the event is the most appropriate time to seek new acquaintances for business. Once the show begins, you can only network with eight or nine other people at your table.

Do not force people who can not say YES

Make it as a friend. Often, we see “gatekeeper” that could make it harder to meet with decision makers. They could be from security guards, receptionists, secretaries, or mid-level managers. If confront them, not to take action that shows disrespect to him. Therefore, it has been their job to filter the guests that will meet their boss.

For that, make sure you have a lot of contacts that could pave the way to meet the decision makers. If possible, make them as a friend. Create an atmosphere familiar with employees at various layers in a company which will be a partner or we shoot our clients. If we can do it, surely they will not hesitate to help us, even giving the information we need to facilitate our business deal step.

Never start work before their signature business contract

As a small business owner, sometimes we feel very excited when a client told me that he would use the services or buy our goods. As a result, without knowing it, so spirits, we went to work before the work order which could be a reference according to the value of the contract.

Look for people who “reserve” that can be obtained to help businesses

We must realize that the best we someday certainly left us with a variety of reasons. Of independent want to get another job that provides a higher remuneration. For that, try to always find and prepare other HR can roughly and qualified to be a substitute for people mainstay in our business.

Know exactly how much profit can be made from any business contract

Therefore, we must know exactly how much money we make from every aspect that appears in the contract. There are times when we have to spend extra before getting paid from contract work entrusted to us. However, as much as possible, lest we eventually bail so that it does not interfere with cash flow. Make sure that you also really detailed count to count as labor costs, administrative costs, even to transport to run a business. With details that you have prepared, then there are many aspects that we can count so it really could determine the level of benefits that can be obtained.

3 Reasons Why Young People Fail Become a Professional Businessman

Apr 5, 2017 | Posted by in Business, Business Tips | Comments Off on 3 Reasons Why Young People Fail Become a Professional Businessman

There is a saying that “Entrepreneurship for Everyone” or maybe you think that today there are many young entrepreneurs who turned out successfully run their business.

unhappy in office

They don’t have to work for 8 hours in order to have an income, which is why many young people are interested in it and began to set up his own business. Actually, it all depends on the person itself.

Someone who turned out to be hard-working should not also force myself to be an entrepreneur. If imposed, the business carried fear will actually fail.

Evidently, there are many young men who had tried to establish their own business, but eventually they experience failure and loss.

If you never give up, then continue with the struggle. However, if you feel like a worker just because it never fails to run a business, always know why.

Following are the causes of young people fail to become a business professional:

1. Assume Entrepreneurial Profession for Everyone

Imagine if everyone in the world is to be an entrepreneur, then who will be their customers? This means, not everyone can be an entrepreneur, because there are several properties and actions to take someone if you want to be a good businessman and always succeed in business.

If you do not have the nature of being an entrepreneur, you should not have to work as entrepreneurs. However, if you want to learn and be patient to entrepreneurship, it is possible you could become a successful entrepreneur in the future.

2. Putting his interest Alone

Maybe you have ever run a business, but failed. Try to introspect ourselves, whether we are always impressed selfish in running the business. Running a business, should indeed always in touch with other people.

Networking in the business world is very important for the progress of the business itself. We must always work together with others, not to be selfish. Maybe because that you have failed in previous attempts.

3. Do not Want to Learn and Adjust

An employer, even if he has been successful and had a turnover of tens of millions, even billions of rupiah, he still must continue to learn, at least to maintain the company or its business from competitors roles. When failed, of course we must want to learn more, so that the future will no longer attempt failed.

In addition, we must also be able to adjust to the situation and changes in the existing market. do not push our efforts to continue, if the market wants something else. It will not succeed, and even lead to losses and the closure of an existing business.

Have a Strong Entrepreneurial Character

If it still wants to run a business, have the character of an entrepreneur is so strong. Instill in your heart that you want to continue to learn, want to continue the spirit and always create new things creatively.

If the character of this kind has been held, the desire to become an entrepreneur would no doubt.

Simple Ways to Resolve Problems In Business

Mar 15, 2017 | Posted by in Business, Business Plan, Business Tips | Comments Off on Simple Ways to Resolve Problems In Business

The problem, in the narrative of Wikipedia, is a word used to describe a condition that comes from a relationship between two or more factors that produce a confusing situation. The problem is usually regarded as a situation that must be resolved. Generally, the problem was realized “no” when someone realized that the situation he was facing was not appropriate to the circumstances he wanted.

resolve problem business

Whatever the definition, in the world of entrepreneurship, the problem will always overshadow the entrepreneur even though he has tried hard to avoid it. Starting from the trivial problems such as imitation products up to a big problem that is bankruptcy, the problem would not be able inevitable.

As a true entrepreneur, you do not have to worry about the problems that would confront step towards the success of your business. Well, if you encounter a number of problems and must resolve it as quickly as possible, use the following simple way.

Identify the problem

Some people complain of problems that appear complex. If so, identify the subject matter. Once found, you will easily describe the causes and facts of the situation that surrounds these issues.

A simple way to identify the subject matter is to ask questions to oneself with words prefixed wondering “why?” As in “why?”, “Why did they do it?” And so on.

The answer to that question will take you to the subject matter and after discovered should be dicara solution. If not, the problem will just hang out and continue to hang with no way out.

alternative solutions

Every problem has a way out. It will not be easy to find, but the solutions must always there if we observe. Well, if you are quite keen to see the basic problem at the root of the problem, a solution that is created is quite possibly more than one, and can be used as an alternative solution.

If you find more than one solution, describe the advantages and disadvantages of each solution. Invite a business partner or someone who you trust to just go one by one solution or discussion it to determine appropriate solutions to the problems you are facing.

Finding alternative solutions may sound absurd or very difficult to do. But, do not underestimate the ideas that emerge when you think of a way out or when it is being discussed with the business partner. Therefore, the idea could be the right way to save you from the problems middle convolute your efforts, especially when you feel there is no way out.

implement the solution

This is the most important step. Identify problems, find the root problem and lays out an array of solutions would not mean anything if you do not dare to implement to solve the problem. After determining the appropriate solution, implement it immediately. Delaying implementation will only make the problem more complicated.

Keep in mind, in solving the problems do not let emotions and panic shackle your thinking. Calm yourself first before thinking of various ways to solve the problem.