Month: January 2017

Will You Get Rich With a Make-Money Business Opportunity Online? You May Not Like the Answer

Do you want to get rich with a make money business opportunity online? For the most part you do and millions of people around the world feel this way also. The Internet gives you the opportunity to promote a business in front of millions upon millions of eyeballs every single day. By doing this you increase your chances of making sales and of course making more money. But the question is will you ever get to the point where you are making a ton of money?

Unfortunately most people never do. The reason why most people never do this is because they were misled in the wrong direction. When you start a business on the Internet you have to come in with the attitude to give it 100% every single day on a consistent basis. This is not a game, this is not a hobby, this is not if it works it would be great. This is a real business and should be treated as such.

I see too many websites out there that say you can just set it and forget it and it’s not going to work out like this. The only reason I started to make money on the Internet was basically because I started to learn more, grow more and apply the skills and knowledge that I learned. You must apply what you learn because if you do not apply it holds no substance or purpose.

On a brighter side a lot of people are making tons of money because they simply made the commitment to go full out with their business and not let anyone stop them. They’re going to be a lot of negative people to bypass but are you really going to let that stop you? That is something you should always think about and I hope your answer is the right one.

Rebuilding Peace of Mind and Your Credit

Many times – and way too often these days – we read or hear of someone in dire financial difficulties. Although most of the time the human reaction is to sympathize with the situation, the truth is that words we read or hear are hollow and abstract, no matter how hard we try to imagine being in the other person’s shoes.

With no feelings to share, we cannot relate to the anguish we read or hear about. At least, until it hits us right at home.

When financial difficulties intrude in our life disrupting it, we can suddenly understand the pain too well. Shock, humiliation, stress and a general feeling of failure begin to whisper in our ear day and night especially at night.

As stress increases, we search for a way out, but when our options dwindle we feel trapped. Personal relationships get strained in the process, adding tension to an already gloomy emotional state.

At this point, recovering peace of mind is just as important as rebuilding the finances and, consequently, one’s credit.

In fact, according to the Substance Abuse and Mental Health Services Administration of the United States, in order to fight back and regain control of one’s life, engaging in stress relief coping techniques is very important. This is what they recommend:

* Trying to keep things in perspective – recognize the good aspects of life and retain hope for the future.
* Strengthening connections with family and friends who can provide important emotional support.
* Engaging in activities such as physical exercise, sports or hobbies that can relieve stress and anxiety.
* Developing new employment skills that can provide a practical and highly effective means of coping and directly address financial difficulties.

(For more information see http://www.samhsa.gov/ECONOMY ).

Of course, all of this is a lot easier said than done, but it can be done.

Above all, it is the feeling of helplessness that needs to be fought off and that’s where the above suggestions can truly help, for example, working on new employment skills and finding someone who can provide emotional support, such as a pastor, a good friend, or a family member.

Once the feeling of helplessness has been reduced, it is time to work on a sensible financial plan, taking it one step at a time in order to avoid being overwhelmed. This is where the recovery process could benefit from a consolidation loan or a title loan on a vehicle or other property.

A quick injection of cash from a reputable title or consolidation loan provider, without the restrictions and bureaucracy of the banks, can provide immediate relief, reducing the stress and allowing sufficient time to rebuild finances, credit and above all, peace of mind.

Should You Ever Consider Hard Money Business Loans?

Before we go any further, let’s make sure we’re working from the same definition of hard money business loans.

For the purposes of this discussion, hard money business loans and hard money loans in general, are typically secured by real estate.

Because the lender is not usually concerned with the application of the funds acquired, I’m further defining a hard money business loan as a source of funds invested into a business operation.

The lending criteria for issuing a hard money loan is primarily focused on the equity held in real estate.

Typical characteristics: 1) private lending sources, 2) short interest terms from one to three years, 3) up front fees on closing, 4) short in duration, 5) use of funds not a focus, 6) limited number of debt covenants if any, 7) interest only payments is quite common, 8) failure to pay results in sale assets to retire the debt.

While hard money lenders have their detractors, they serve a very real and valuable purpose in the commercial financing market place.

Pros and Cons

Pro – The application process for a hard money loan tends to be considerably faster than a comparably sized conventional loan application.

Con – Compared to conventional real estate financing through institutional lenders, the cost of hard money loans is almost always higher.

Pro – In many cases hard money can be lower cost than cash flow financing facilities like subordinate debt and factoring.

Con – Up front fees also add to the cost of hard money business loans which can significantly increase the effective interest rate you’re actually paying over a period of time.

Pro – As a bridge loan, these funds are normally outstanding for a short period of time so the shorter the use, the lower the potential cost.

Con – At the end of the interest term, if an extension is required, but not granted, the loan needs to be paid out in full.

Pro – From a cash flow point of view, an interest only payment, even at a high rate, can still be less strain on the cash flow.

Con – Once you sign up for an interest term, its the same as most fixed interest rate terms whereby there is usually a 3 month penalty for early payout.

Pro – Hard money can also be extended against non real estate assets where real estate is still the primary security in the overall security package for the loan.

Con – If you fall behind with your payments, the foreclosure process can be swift and will typically be as fast as the local jurisdiction will allow.

The basic scenario for considering a hard money business loan is when a business has exhausted its conventional financing sources and is still short money to operate, expand, or just take advantage of short term opportunities.

Because repayment is usually required within a one to three year period, hard money business loans can also be categorized as bridge loans.

If you’re thinking about whether or not to secure a hard money business loan, consider the following points:

>>> Can you generate an ROI? If you have good, profitable business in front of you that you can’t bank because a lack of short term capital, then a hard money business loan may be a solid option.

>>> Do you have an exit strategy? Remember that a hard money business loan is effectively a bridge loan that you’re going to have to pay back in the near future.

If you can’t create a cash flow scenario where full repayment is possible at the end of the loan term, then a hard money business loan may not be a viable option.

>>> What are your alternatives? If your alternative financing options are equity based where you are giving up a portion of the future profits of the business, a hard money business loan can allow you to retain control of the business and keep the related profits.

>>> What’s the impact on personal liability? If your alternative business financing options are high cost and still require a personal guarantee, then a hard money business loan may actually be a better option.

>>> Can you generate enough capital? If a hard money business loan cannot completely address your financing need, then it may not be a good fit.

Sometimes business owners will use hard money to buy time until they can acquire additional capital to meet their entire financing need.

The problem with this strategy is that hard money is not very patient, and if it takes longer to acquire the additional funds than your cash flow allows, the hard money lender will not likely postpone or restructure your debt serving costs.

Instead, if you fall behind in your payments, they will likely realize on their security, which may put you out of business.

Social Networking and Building a Home Based Big Money Business

Home based businesses continue to grow at a rapid rate on the Internet today. Social networking is sweeping the Internet and is becoming a popular way to build a home based business. Here are a few tips that can help you be successful using this marketing strategy.

1. You can join Twitter and develop a large number of followers. There are programs available now that will automate the process of following other Twitter members and getting them to follow you.

You want to keep your numbers in balance so you are fairly equal in the number of people you’re following and the number of people following you.

You should post updates, which are known as Tweets, on a consistent basis. An easy way to do that is to blog and add the OnlyWire blog button to your post. This allows you to bookmark to multiple directories with one post including Twitter.

A great way for you to develop a list of followers who could be potential partners for your home-based business is by using Twitter which is a form of micro-blogging. But again the key is to not spend a lot of time on this and to automate as much of the process as possible.

2. Blogging and social media go hand in hand today. This means using tools such as You Tube videos to liven your blog up a little. One way to make your blog more interactive and fun for your readers is by adding polls.

In the blog articles include text links and graphics to make them seem more exciting. Ask for comments from your readers which are another great way to get them involved in your home based business.

3. Discussion forums continue to be a strong form of social networking. A big plus for your business is joining a handful of relevant discussion forums.

The key is to brand yourself as an expert and develop credibility in the forum posts you make. This is where you give back to the forum members.

Then create a signature file which is a brief classified ad on yourself including a link to your website. The signature file is where you take back some of what you have given.

These are all good tips on using social networking to build your home based business. All of these help you get the exposure for your business and do it in a way that allows you to meet people online and develop friendships into business partners.

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