The Significance Of Motivation To Build Up A Business

Motivation is perhaps one of the topics that is the least understood, yet most studied
and talked about of our human traits.  Yet there is no action we ever take that is not
guided, persuaded and/or altered in some way by motivation.
Whether it's about gaining or losing weight, holding on to or saying goodbye to
smoking, attending a business seminar or even buying new clothing.  Your every
decision is influenced by your own internal motivational factors.
You know, even reading this article is being guided by your motivation. If you are
really, truly interested in the subject matter and have a burning desire to learn how
to become a successful entrepreneur, you will likely finish something in one sitting.
Being motivated or not being motivated makes the crucial difference between
incredible success and disappointment for entrepreneurs.  Basically, your motivation
emerges from two sources, external and internal.
External motivation comes from outside sources like data, prices, success stories of
similar people, etc. In contrast, internal motivation comes out from your own
dreams, thoughts, desires, passions and even personal habits and shared
All human beings are very unique, as you are aware. And something that deeply
inspires someone else may not influence you in the least. Therefore,
it's still going to be you and only you who can determine what really works the best
where motivating yourself is concerned.
You need to ask yourself what internal and external factors that are motivating you
to become a business owner.  And of course, only you know the exact steps you
needed to boost up your own motivational levels in order to make your business
become a reality and get it going a lot faster.

The Budget – The Ultimate Financial Management Tool

A carpenter uses a set of house plans to build a house. If he didn’t the bathroom might get overlooked altogether.

Rocket Scientists would never begin construction on a new booster rocket without a detailed set of design specifications. Yet most of us go blindly out into the world without an inkling of an idea about finances and without any plan at all.

Not very smart of us, is it?

A money plan is called a budget and it is crucial to get us to our desired financial goals.

Without a plan we will drift without direction and end up marooned on a distant financial reef.

If you have a spouse or a significant other, you should make this budget together. Sit down and figure out what your joint financial goals are…long term and short term.

Then plan your route to get to those goals. Every journey begins with one step and the first step to attaining your goals is to make a realistic budget that both of you can live with.

A budget should never be a financial starvation diet. That won’t work for the long haul. Make reasonable allocations for food, clothing, shelter, utilities and insurance and set aside a reasonable amount for entertainment and the occasional luxury item. Savings should always come first before any spending.

Even a small amount saved will help you reach your long term and short term financial goals. You can find many budget forms on the internet. Just use any search engine you choose and type in “free budget forms”.

You’ll get lots of hits. Print one out and work on it with your spouse or significant other. Both of you will need to be happy with the final result and feel like it’s something you can stick to.

Working Capital Solutions With Factoring

Ideal Candidates for Accounts Receivable Factoring:

Any business that provides a product or service to other creditworthy businesses and is constrained by their day-to-day cash flow situation.

Does your business need:

• Cash to Cover Payroll?

• Working Capital to Fuel Growth?

• Help with Cash Flow Problems?

• Help because of Bank Turn Downs or refusal to extend current lines?

• New Equipment to Grow?

What is factoring?

In a traditional factoring arrangement, a company actually sells its receivables to another company (a “factor”) at a discount. After the sale, the receivables balances are carried on the factor’s balance sheet since title has passed. Because the factor then owns the receivables, it generally provides all the required credit, collection and accounting services necessary to collect the receivables, including assumption of the ultimate loss exposure from the client debtor. The important difference between factoring and asset-based lending is ownership. In factoring, the receivables are purchased and owned by the factor. In asset-based lending arrangements, accounts receivable are pledged to the lender as security for the loan, but the borrower retains ownership and complete control of the receivables and the value of the receivables remains on the borrower’s financial statement.

Keeping the cash flowing is a challenge for all businesses. Does your company face cash flow challenges because of slow paying customers? Have you been forced to decline new opportunities because of cash flow issues?

As every business owner knows, sales alone do not measure the profitability of a company. For example, sales may be increasing, but a company may have to wait weeks or even months for payment. During that time, your company cannot purchase materials for more orders, meet payroll, or other basic operating expenses. The solutions may be Accounts Receivable Funding provided through Diversified Funding Services, Inc. Accounts Receivable Funding is quickly becoming a popular choice for its flexibility and rapid injection of needed capital.

Why Accounts Receivable Funding is a Popular Choice in Today’s Business World

Accounts Receivable Funding or “factoring” has been in existence for several decades. Today, virtually any-sized business that extends credit to other businesses for goods or services can enjoy the many benefits of Accounts Receivable Funding.

Simply stated, Account Receivable Funding is the exchange of creditworthy commercial accounts receivable for an immediate injection of working capital. When an invoice is generated, it may be purchased with an advance of anywhere between 75 to 90% of the net invoice amount. When your customer pays the invoice, you will receive the reserve portion minus a nominal servicing fee.

Why Accounts Receivable Funding Makes Financial Sense

Accounts Receivable Funding offers many Advantages:

• Initial funding is typically available between 5-7 business days upon receipt of completed formal agreements, and then all future advances are funded within 24 hours.

• Accounts Receivable Funding does not create a financial liability on your company’s balance sheet and generally no other collateral (outside of the receivables) is required.

• The amount of funding available to you is only limited by the creditworthiness of your customers.

• Accounts Receivable Funding focus on the creditworthiness of your clients instead of your financial history.

• Accounts Receivable Funding allows quick access to working capital, instead of waiting 30, 60 or 90 days to receive payment from your customers, money is immediately available on demand.

Accounts Receivable Funding Programs have been “generally” designed with the following criteria in mind.

• Your company must be providing a product or service to other credit worthy businesses (no consumer sales)

• Your company must be selling on terms

• Your company must be billing in arrears (no pre-billing)

• Your company must have minimum monthly sales of at least $10,000 or annual sales of $120,000

• Your company is not required to be in business for any length of time

• Your company should have the capability to generate financial reports (A/R and A/P aging reports, etc.)

• Your company may have current and/or historical losses or a deficit net worth position

Ideal Candidates

• Start-ups
• Companies suffering financial setbacks
• Service Companies
• Companies with seasonal orders
• Mature companies seeking cash flow support
• Companies seeking credit assistance
• Businesses experiencing rapid growth
• Non-bankable businesses

An example of the application process:

1. Complete the application
2. Provide your most recent and detailed accounts receivable aging report
3. Provide your most recent and detailed accounts payable aging report
4. Provide an actual sample invoice
5. Provide a copy of your Articles of Incorporation/d.b.a. filing
6. Provide a copy of your customer list
7. Some factoring companies require financial statements, others do not.

Preferred Industries

• Service
• Temporary Staffing
• Security companies
• Manufacturing
• Transportation
• Textile/Apparel
• Computer Consulting
• Distribution Companies
• Printers
• Sub-Contractors
• All other Industries
• Any company that provides a business to business product or service to another credit worthy business!

Thanks for reading!

Code Your Ads Without Adding Words To Your Classifieds

Coding advertising is not the big secret or the involvedprocess many would have you believe.

A great many firms sell reports on how to code your advertising for $3 or more, when it's nothing you can't learn with a little study of a few mail order publications.

Coding advertisements is simply a means of determining where your orders come from, and in cases where you don't use coupons or separate order forms for several different products, a method of double checking on what the customer actually requested.

For the purpose of demonstration, let's assume you have a company called JONDO COMPANY, your name is JOHN DOE, and you market publications by PRINTCO and PUB-GUYS.  You decide to run
ads for different products in three publications and teaser ads for your catalogs in two others, one for each publisher's catalog.  Coding  the latter two is easy.

For simplicity, where you put the name and address of the company when offering Printco's catalog, mark the name as PC JONDO, ADDRESS, ZIP CODE.  When the envelope arrives and no indication is given of what was requested, you can tell at a glance what was requested.

Now Printco and Pub-Guys sound and look alike, so for the second ad, mark it JONDO-PG.  If you're advertising the same catalog in three different magazines, use different codes for each to see
which one gives you the best response, for example JONDO-PG, JOHN DOE PG AND P.G. JOHN.  You can easily separate them as you receive them.

The permutations are endless:  P.G. DOE, P. DOE, G. DOE, DPG, JPG, JDPG, and if that's not enough, code the address, perhaps BOX 99, DEPT. PG, BOX 99-PG, BOX 99 DESK PG, BOX PG-99, and so on.

The person ordering wants to be sure you get his request and almost always faithfully reproduces whatever is listed as the correct address right down to the last comma.  You can never run out of ways to code.  PG is the obvious code for PUB-GUYS, but you could use an arbitrary number code chosen by you and in fact, number codes are invaluable codes for making dates on the ads, to see how many trickle-in orders you get long after the ad stops running, and what months and season are most  productive for selling your products.

Date coding involves using numbers in sequence to indicate magazine issue number, sequence number, or date published.

This coding is virtually essential in later campaigns.  Once you've got a fair-sized mailing list, it will be far easier to use advertising codes to indicate their interests than to keep a complete ledger of every person and what they purchased.  It also makes computer entry a snap, especially with a good filing program.


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