It is very rare that I ever get the time to write about personal finance but after finding out that many of my own business partners are in credit card debt, I just can not avoid it for too long. When writing business plans, it is essential to include the personal finances of the directors in the company especially if it is a new business. Unfortunately for most new business owners, most do not have stellar credit profiles. Most new business owners are either straight from college or have had a few credit issues in their past and as such most omit section on their credit profiles in their business plans.

It is important as a new business owner or when making your business plan to understand that your personal credit profile will affect your chances of getting business finance as well. Lenders are interested to know that the principals in any business can repay any debt advanced to the business. One of the first places they look at is how you as a business owner has performed in your own finances. If you have had bad credit from missing debt repayment plans to bankruptcy , you will have a harder time of getting funding for your projects. One of the ways that business owners go around this is by surrounding themselves with other principals with excellent credit. There is already a cottage industry in the USA where you can hire directors for credit purposes. Continue reading this post…

Popularity: 5% [?]

Wouldn’t we all love to make money online ? I was looking at my previous posts for the past year and I have to say it has been an experience and a half. I was absolutely sure I would make a million dollars online within the first year. It did not happen but hey I am an optimist and so used to being not an online millionaire that I have not missed it.

The problem with most “let us show you how to make a million dollars online” web sites and blogs is that….. they don’t have any information about how to do it. Some have not even done it. We all hope and pray and continue writing blog posts that we quickly forget about. Then wake up the next morning and start from A again. Continue reading this post…

Popularity: 14% [?]

It is now impossible for me to go an hour blogging without the name SEO coming up. SEO this, SEO that is the norm for me now. As an online entreprenuer, the word can be just as annoying and confusing as the phrase “I want” from your nagging kids. A day has 24 hours. During this period I have to find a way to write quality articles, find traffic to my blog, eat ,sleep and do the SEO thing.

Readers know that I like complaining about it. However, after finding out that life is too short for SEO optimization I have found I am not alone. The information out there is too confusing for those of us who have done off line businesses. At least in my off line business I know that if I buy something for $5 here and sell it for $10 here , I will make a profit. Search engine optimisation on the other hand is a different baby. I would be glad to know who amongst us can claim to be the ultimate SEO guru. Continue reading this post…

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It is essential to have a business plan. However we have seen that it is essential for an effective business plan to consider the both the lender and or investor.Most Internet business owners do not consider themselves as investors and most run short of funds during important periods. I have had my own web sites suspended due to lack of payment for hosting during critical times. A good business plan that would have attracted small investors or lenders would probably have avoided this problem.

We have seen the need to include in your business plan the following aspects

1. Your Credit History
2. Your Collateral
3. Demand for Your Product or Service

You should also include in your business plan the following :

Continue reading this post…

Popularity: 19% [?]

I like talking about online business, but can anyone please tell me when gas got to $4.15 in Boston? Making a living online is a great thing but it seems that I never seem to know what is happening out there in the world unless it is in someone’s blog. The price of gas went up , my IRA is down and I just have to find another way to fund my hobbies and my business.

One of the things that any online business person is aware of is the need to have funds during hard times. Saving in a bank is good until the value of the dollar starts to fall again. Buying shares is also great until another Enron happens. But there is one thing that seems to always give even during very bad days, Gold and other precious metals. Continue reading this post…

Popularity: 17% [?]