People Get a Remortgage in Financial Crisis

Refinancing is also known as remortgage. If the individual or the company is short of funds, money or any kind of credit, then they will go for bad credit remortgage loans. It was very beneficial for people suffering from bad debts. There are so many people who are suffering from bad debt and need another mortgage.

The thousands of employers working in the industry or any company have to suffer their salaries or job shortage because of bad credit or shortage of money. The company will fire the employers because they have a low credit in their account. So, they deposit another application form for another mortgage loan to protect their capital, labor and family members from the shortage of money. This was the last option elected by the company to get back on their normal status of finance.

You think that there was any way to get out of trouble or bad credit situation? Remortgage is the last option the company will take from the bank or any kind of financial institution. There are lots of companies or people have to go through bad times in their life. Some people think that if we are sinking in today's time, but come out of trouble after a short period of time, they are positive thinking people, and they are starting searching for the alternatives of bad credit. But some people have negative opinion that they can not cover their losses by any means.

There are some people going through the effects of bad credit, that there is no solution or way to get approved the application form for another loan from the bank. Even they can not apply for a mortgage application form. Due to this type of financial crisis, many people are affected because companies can not afford the high interest rates.

Business Development Training: Follow Up Business Opportunities

Consider the scenario of a business networking event. These are superb sources of leads and referrals that can be the life blood of your business. The business skills you develop in this arena can easily be applied in any business scenario. Assume you have engaged in conversation with a good potential contact. Once you have created a positive first impression start the interesting chat about various areas of common ground. By careful listening, you may identify an opportunity to do some business to your mutual benefit at some later date. You are looking for the moment when someone says something to you to make you think, "Ahaa, there's a potential business opportunity here." Suppose you are a business development consultant who specializes in the food industry and who has a good track record in helping companies to increase their margins. If you were asking all the right questions such as "So how do you find things at the moment?", And you hear the answer "We're doing reasonably well but we do not seem to be getting the efficiencies in the factory." That is an Ahaa moment.

Can I mention again, that networking using business development skills is not selling; it's building business relationships, and gathering business information?

This should be the start of the follow up business development process which is as follows

1. Ask for their business card and read it carefully.

2. Always find something to comment on; maybe the spelling of their name or maybe they have their business in a particular part of town which you know intimately. It does not matter as long as you show them that you are interested in them, their business and their circumstances.

3. Now this is a key moment. Ask if you can phone them next Wednesday or Thursday to discuss the problem they have with their margins. You can say something like "Now is not the time or place, but maybe your problem is a simple issue which I can give you some help on". The chances are if you have made the right impression, the answer will be "yes".

4. Bear in mind all the time that if you do not ask the question then you do not give the other person, with the business opportunity, a chance to say yes .. You will be at your most popular at this joke. If you have done it all right, are you really going to waste a great opportunity? Not every business event and not every person you meet is going to turn into a business opportunity but if you are awake alive and alert, listening attentively and with empathy ... you just never know.

5. Write down on their business card the day you have agreed to call and let them see you do this. This shows that you are serious and the chances are you're likely to do it. At this point, there is no reason whatever not to excuse yourself in one of several ways which we will show you another time.

6. As part of the bridging process ensure that when you get back home or to your office or even before you leave the business networking event write down where and when you met the person a quick description of them and any salient facts which you may use at a future date to show them that you are really listening to what they had to say.

7. When you make the follow up call as agreed, review the business card or refer to your business development software if you use it and confirm that they were happy for you to follow up. If you had picked up that the person was going away for weekend then make sure that one of the questions you ask is "How did the weekend go?" I'm not asking you to remember these details. What I am doing is asking you to write down some small talk facts that you gathered on their business card. It helps break down their barriers to talking about business.
When I ask my questions "what is the most important thing with regard to business cards?" the normal answer I get is "make sure you carry plenty of them with you". Of course you know now that the most important thing is to ask for minds. Offer your business card by all means, but do not be too quick to do this. I think it's a little pushy and it's another form of saying "aha you want to know all about me do not you. It just may be that they do not want to know all about you ... not at that moment anyway. There's a lot more to say about business development training and in particular working the room but you can find out about that on my other articles.
Take note that business development and networking is about giving first and receiving second. If you go into it thinking "What's in it for me and what am I going to get out of this tonight" then the chances are you will not succeed. If you ask questions such as

· "How can I help you?"

· "Who would you like me to introduce you to?"

· "How will I know if someone I'm talking to will be a good introduction for you?"

You will be showing them you are a proficient and skilled business networker.

Dr. Albert Scweizer once said "Give without remembering and receive without forgetting". That should stand you in good stead when you're out there looking to create new business opportunities.

The Simplest Explanations of Financial Statements - What They Are, How to Use Them

The simplest statement is the profit and loss statement, also called P & L. This P & L indicates if the organization is generating profits or losses with its operations during a set period of time. The second statement is the balance of payments or Balance Sheet. It offers a vision of the assets, liabilities and estate. The third one is the Cash Flow and it refers to the movements of money in and out of the organization's accounts.

The Financial Statements answer these questions:

Profit or loss statement: Are we making money?

Balance Sheet: Are we creating wealth?

Cash Flow: Are we able to fulfill our obligations?

If you do not have much time, and you can only get education in a small small part of the finances, learn about cash flow. This is the main financial tool that helps us to determine the external financing requirements. When I am talking about external requirements I mean the cash needs are not covered by the income of your company.

Profits and Losses (P & L)

The P & L is also called the income statement. The whole objective of the P & L is to give you an idea about the capacity of wealth generation. In order to do that, in a very simple way; the income must be greater than the debits. There are sophisticated methods to perform the evaluation of the P & L, in this example we will consider that the main objective of the company is to sell products or services.

How to Understand the Profit and Loss Statement

Operational Income - Direct Costs = Gross Profit

Gross Profit - Indirect Costs (+ non-operational income) = Net Profit

Net Profit - Taxes = Profit and / or Losses

In an ideal world your organization has a profit and shares it with several other people or organizations including employees, suppliers, owners, lenders and even the government in the form of taxes. There are many software packages that can help your create an income statement. Yet, the commercial world is not a spread sheet; it is a series of rational and irrational decisions related, out of which you only control one decision: yours. The old rule of thumb was that basically a company should not sell a product or service for less than the cost it spends on producing it. Well, it does not work that way. YouTube, the video site, does not sell the service of hosting and delivering videos, but the service of promoting products next to the videos. Neither does Google, which provides a very high value -internet search- for free. In the process, providers of internet connection benefit yet Google does not use them as clients or customers, they are -yes, stakeholders.

Thinking that any company can be as Google is an utopia. Most companies have to be able to offer a value that is higher than an alternative to a client who will be convinced that such deliver is possible.

The income statement formula for most companies shareholders three concepts: gross margin, net margin or profit, and net profit.

Gross margin is the direct result from operations.

Revenues (income) from sales or activities directly related to the organization's purpose minus expenses directly associated to sales. If you have multiple products or services include the price and cost of each one on a separate sheet. In this way you will see which are the most or least profitable. You also will notice you may lose on certain product in order to achieve a greater sale and gain a profit. Make sure to include the cost of time specifically dedicated to accomplish a sale and with that compute sales that did not happen (this time is also part of the direct cost).

Calculate the gross profit by subtracting the direct cost of all your sales compared to your operation imports. Include the ones that you have not collected, but have already sold and delivered. Also consider other costs (indirect costs) which do not vary with sales, these typically are your administrative expenses. As well as in the previous case, include the expenses you owe even if you have not met them.

Calculate the net profit subtracting the indirect expenses from the gross profit and adding in the incoming which are not directly related to the purpose of the organization.

Finally take in account the taxes and expenses on debt, like interest if you have a loan, and depreciation and amortization if you have machinery, equipment or other property. Calculate your profits or losses by subtracting these expenses to get the net profit.

There are several specifications to the P & L which are specific to each business model. Make sure to verify this with an accountant or an accounting expert who can explain you the differences regarding this general model. I like to have a clear indication of my claims tied to clients, revenues and expenses. I know as a fact that it will take longer than expected to get clients, I just do not know how long. I also want to evaluate how the revenues are growing, by selling more to existing clients or by capturing more clients. Assumptions to be considered include: number of clients, average sale per client and special conditions such as discounts, credits or payment plans. Whether you are starting up or growing, knowing these assumptions will be very valuable when you are seeking funding as well as following up on your plan. There are many examples of income statements online.

Balance sheet

Now let's go to the balance sheet. In this case, you split your company in three great areas: assets, liabilities (debt), and equity. We call this financial statement a Balance Sheet because assets must be equal to the sum of liabilities plus equity.

Assets are tangible and intangible items the company owns and can convert to cash. That is the old school of economics. Assets need to generate income and that subtle difference: Converting to cash or generating income has a large impact on the well being of a company. Assets have the capacity to generate income actively. We must do something with them; for example, the money in the bank, a chair, a trademark, inventories and even a patent. If the purpose of an asset is to have a cash value, that purpose is not creating wealth, on the contrary, an asset that is waiting to be converted to cash looses value.

There are four types of assets: tangible and intangible, based on whether its value can be commonly agreed upon or not, and short term and long term assets, based on the speed of which an asset can be converted into cash. Tangible assets are for example office supplies, desks, vehicles and machinery, intangible assets are web site, logo, brand recognition, relationships with vendors or buyers and intellectual property-patents, trademarks, and knowledge. Short- term assets which can be sold rapidly if the company needs cash, whereas long term assets which can not be sold quickly.

Liabilities (debts) are obligations that the company 'owes', basically they include the value of loans as well as invoices and salaries to be paid. There are two types of liabilities: Short and long term. The short term ones are debts which must be paid within 12 months. The long term debts are the ones that have to be paid in a longer period than 12 months.

The equity is the value of the ownership of the firm, depending on the legal system of each country, equity could be easier or harder to sell. Generally speaking there are two main types of business: based on people or based on capital. Equity for people's based firms is harder to sell, usually the owner or owners of a firm are unequivocally linked to its brand. For example, when hiring a law firm, a doctor, a consultant or a hair dresser, the company's value is linked to the owners' reputation. In some cases, quality control surpasses this perception, as in the case of large law firms. Equity in people's based firms are usually called participation, and the law in most countries limits the power of capital in lieu of the power of people's decisions. Changes in ownership in people's based firms are usually agreed upon by consensus. In the case of capital based firms the value of the company is not linked to individuals but to capital invested, the equity is also referred to as stock or shares. The company is managed by a team that might or might not be related to the owners. These companies can sell parts of their ownership -called shares- at relative ease. In some cases, these shares are sold at the financial markets.

Companies which shares are sold in financial markets are called public companies. Companies which shares are not traded openly in financial markets are called private companies. Public companies must meet certain regulations that frame the conditions in which management can make decisions. In both privately and publicly held companies, owners are called shareholders and are represented by board members. As a group, board members decide the strategy of the firm. People purchase shares as investment tools, they expect the shares to provide rewards in two forms: they increase in value -also referred to as capital appreciation and- and they generate disputes. The balance sheet provides a healthy check point of how assets -which build wealth- are funded, by debt or equity. The funding article explains the details of funding based on debt or equity.

How to understand the Balance Sheet

Assets generate income

Liabilities (debts) generate obligations

Equity (property) generates rewards

Total assets (short term assets + long term assets) = total liabilities (short term liabilities + long term liabilities) + equity.

This very unusual and practical way of viewing your Balance Sheet makes a huge difference when you want to create wealth!

Cash Flow

Cash flow lenders only the way cash or money goes in and out of the firm, the organization or even your personal finances. Understanding the flow of cash is very important because a firm can be profitable (as per the income statement), which can be creating value (as per the balance sheet) but may go into bankruptcy because it has no cash to pay for its obligations. Many people underestimate the impact of delayed payment, nor do they understand how being in debt can be good or can not estimate how much investment is needed.

How to understand Cash Flow

IN: All the money that comes in as a result of sales, interests, refunds, and any other income.

OUT: All the money that flows out as a result of payments to suppliers, rent, salaries, responsibilities, utilities, any other cost, loan repayments, pre-payments and any other expired directly related or not to the organization.

The required investment (regardless of the source, either as debt or equity), is calculated by the amount of cash required to cover the accumulated deficit that occurs when there is not enough money coming in to pay for what is going OUT. Usually there is a 10% extra for sundries or unexpected expenses added to the investment.

Cash flow is the difference between the cash that comes in and flows out of a company. A negative cash flow requires a capital contribution or investment.This investment can be achieved through the creation of a future payment obligation, ie, debt, or through the sale of one part of the company's property / assets, ie, its equity. The cash flow allows for financial planning, foreseeing when there is a negative cash flow that requires extra capital. That is the basis of funding.

I know many cases of companies that went bankrupt due management failed to realize a negative cash flow and reacted too late. Cash flows must be preceded and validated. If you manage or plan to manage a company, or even a non-profit, learn about finance and above all understand the estimated and real cash flow. This is the best way of having a healthy financial strategy and balancing your life, so you are proactive and not reactive.

Business Strategy Fundamentals

Over the years, I have met and worked with literally hundreds of business owners. At one time or another, many of them have written a business plan. But very few of them have a working business strategy. A business plan and a business strategy are two very different tools. A business plan is normally prepared for a financing partner, either a bank or an investor. The purpose of the plan is to let investors know about the business and its potential for success in order to encourage them to invest in the business.

A business strategy is quite different. Rather than a document for investors, this is a plan for the owner to follow. It begins with an evaluation of the business' goals. Where does the business owner want the business to be in 5, 10 or 20 years, both in terms of fair market value and cash flow? What are the plans for exiting the business? Will it be sold to an outside party or to key employees, or will it be turned over to the owner's children?

Next, we have to do a thorough evaluation of the current state of the business. This includes a valuation of the business and an evaluation of the business' strengths and weaknesses. The more thorough the assessment, the better the potential output, but even a cursory evaluation is helpful.

Most businesses have a tendency to identify strengths and weaknesses away from input from top management. The approach needs to be broader than this to get a true assessment. A broader approach includes interviews with key personnel and surveys of all staff levels. A side benefit of the interviews and surveys is it provides significant insight into the opportunities of the business.

Also included in the evaluation should be benchmarking. Benchmarking identifies areas in which a business is above or below the industry averages. This analysis can immediately identify areas of opportunity.

Now we need to create a strategic plan to increase the business' weaknesses and to use its strengths to create the desired value and cash flow. The valuation is key to this process. Most businesses never have a valuation done until they are ready to sell or gift the business. This makes no sense. If we want to target a specific value in the future, would not we want to know the current value and the method of valuation that is used in our market? By doing a current valuation, we can develop a plan that will use the principles of value in the valuation to build the value of the business.

Once we have a conceptual strategic plan, we need to determine those tactics that are likely to achieve that plan. "Strategy" is most often defined as an elaborate and systematic plan of action intended to accomplish a specific goal or goals, while the "tactics" are the actionable steps that will carry out the strategy. Having a well thought-out strategy keeps the company focused and on target while implementing and tracking a list of actionable tactics ensures real results.

Tactics are the specific tools you will use to carry out your strategy. Your tactics will need to adjust to the conditions of the market. For example, your strategy may include multiple locations. Your initial tactic may be to acquire other businesses like yours in strategic locations. But you may find that there are not qualified or motivated sellers in your targeted locations. You may have to change tactics and build your own office in your desired location.

With tactics tentatively in place, it's time to begin implementing your business strategy. This includes building your team, developing your reports, creating your systems and procedures and placing in place internal controls. When building your team, be sure to have clear agreements in place with each team member regarding their roles and responsibilities towards you and your business. Clear communication is essential to implementing a successful business strategy.

Be sure that the reporting is set up to give you the information you need to make sure everything is implemented and running smoothly. Good reporting relieves much of the stress of running a business because you know what is happening and why it is happening.

Good reporting is also part of good internal controls. You must have internal controls in place, not only to prevent fraud and theft, but also to ensure that the work is being done in the way you expect.

Creating workable and efficient systems and procedures allow you to run the business by managing systems rather than managing individuals. With proper systems in place, you can build your business as large as you want while maintaining efficiency and high levels of profitability.

Commercial Real Estate Brokers - Ask Powerful Questions of Yourself Today

In commercial real estate brokerage, you should ask strong questions of yourself on a regular basis. In this way you can find the right path of action to move ahead and challenge yourself to improve your skills and results.

Failure to adjust to the market and the economy will see your competitors gain ground with listings and clients. Stay ahead of the changes and help your clients and prospects move with the market.

The industry segments of sales, leasing and property management all have advantages in the market place at any time; you just need to see them and follow through with momentum. Tenants, landlords, property investors, and business owners will provide lots of leads and opportunities if you are connecting with enough of them every day.

Far too many brokers and agents take the days and weeks as they come; the pressures of the day then take over. They do not look at the 'bigger picture' and the things that are really holding them back. They fail to make personal adjustments.

Deal with your weaknesses and remove them from your business model; they are likely to be the biggest things that are holding you back from growing income.

To get anywhere in this real estate industry it is vital that you know what is going on around you and how you are responding to that. Do not accept that any situation is as it has to be. Question change and drive better performance in sales, leasing and property management. Your clients need help on property issues, and when the time comes for them to act, you want them to remember you.

Here are some critical questions to ask of you today, as a sales professional in commercial real estate:

• What are your objectives and goals for the next 12 months?
• How have you improved market share over the last 12 months?
• What values ​​or skills make you stand out as a relevant and high quality broker?
• What plan are you working to?
• How can things improve so that your market share grows?
• What needs to happen over the next 90 days to change and improve your client base and responsibilities?
• What would your clients say of you after a completed transaction in sales or leasing?
• What are you not good at that could be holding back contracts and listings?

Do not be satisfied with the 'status quo'. Understand that personal improvement can and should occur. None of us are perfect and even the top agents and brokers in the market can improve skills and knowledge. The results that we achieve are largely based on the 'value' and skills that we bring to our clients and prospects. Seek to improve those factors.

Sample Letter - 3 Keys To Making Your Point

People of all ages, all backgrounds, and economic status should be well prepared to write down their feelings in the traditional form. Yes, emails work great, but there is nothing like scathing as having to send a piece of mail with your thoughts emblazoned on them. For those that are not good at the process, consider creating a sample letter and then modifying it slightly to get your point across and send it to the people you want to read it. This does not have to be an overly complicated issue; it can be a simple tirade about your feelings of a certain company's policies, or what they are offering to the general public. Whatever the case is, you can make sure that your voice is heard and not ignored. Millions of people send emails, but a letter? Now that's something special in the modern world. Consider the three keys to making your point in writing.

The first key to building a great sample letter is the introduction. Make sure that you write the traditional or formal, "dear" followed by a comma and the person you want to directly speak to. If you're not familiar with the person's name, then include a title of their position or at the very least say "to what it may concern". The introduction should lead into your opening paragraph.

The second key is the opening paragraph. Choose your words carefully here, and make sure you hit them with everything you have up front. If you're disgusted, or mad, tell them in the first few lines, and do not sugar covered. After you've hit them with everything, you can digress and explain further in the consequential paragraphs. The reason why you want to be up front here, is that most people might not even read past the first paragraph, so you want to ensure that they get your point and if they continue, they'll get an explanation.

The body of a sample letter should have further explanations but be done in plain English with major fluff. Do not try to wax poetic here, simply get to the point, explain your position and how it should have been fixed by whomever you're writing to. If the letter is not something angry, then use this part of the writing to inform whomever you're scribing to, how great they are.

The aforementioned 3 keys are simple points to creating a solid piece of mail. After the writing has ended, and you've said your goodbyes in the form of a "Sincerely" and your name, you're ready to send it out. Some people find that writing from a template helps, but it can hinder creativity. Consider doing at least one sample and see where your mind is at, and how it can progress. In some cases, people find that writing out their feelings of thanks or even loathing, can help satiate the mind to forget about the situation and move forward with life in general. The written word is still as powerful as ever, do not forget that.

Digital Marketing Tactics Every Business Should Consider

If you have a website for your business, chances are there is a myriad of digital marketing tactics that you previously ignored thinking that they will not have much of an effect on your online presence. There are a number of reasons for doing this. Either you think that it may take too much time to concentrate on them, or perhaps you do not know your way around some of the strategies used online. Regardless of your reasons, here are some of the digital marketing tactics that every business owner should contemplate.

Open social media accounts

When it comes to digital marketing, this is the first thing that you should set up. However, a common mistake that corporate brands make is simply setting up a profile and think that they have fulfilled their social media needs. The most vital part of social media is the "social" aspect of it. This means you need to interact with your audience! After completing your profile, starting posting engaging and visually stimulating media on the different platforms that you have joined. If your content is interesting, your target audience will respond to you and this will form a rapport. The epitome of a working social media is when you need a team to handle your different accounts for you, as the feedback is overwhelming. This will show you that your customers are engaged.

Explore video marketing

More and more online users prefer watching a video rather than having to read pages and pages of content. This is because a video tend to be more visually stimulating. In addition to this, you can pack more information into a video rather than have to write thousands of words to express the same thing. Having your video professionally done also increases the chances of this going viral. Viral marketing would be a dream come true for any business as your brand becomes exposed globally without any effort on your part!

Invest in sponsored ads

Most social media platforms offer sponsored ads to people who would like to increase the scope of their audience. You can take out sponsored ads on Facebook, Twitter, YouTube and even LinkedIn. The largest advantage of sponsored ads is that the algorithms in place in the various social media platforms will ensure that your content is being targeted to the demographic you are looking to get potential customers from. Therefore, it is a method of direct internet marketing. Sponsored ads on social media are also much cheaper than taking out conventional advertising then making it a great investment for any business, large or small.

Personalise your website

When it comes to digital marketing, you need to keep in mind that there are thousands of other businesses that you are in competition within the digital space. How will you make the user experience different for you online visitors to ensure that your website remains memorable to them? Take time to personalize your website. Steer clear from copy paste designs that look like a host of other websites online. Keep in mind that an average internet user will spend ten seconds on the home page of website. If they do not see what they are looking for in that micro amount of time, they will move on. However, if you find ways to keep your visitors engaged on your site, not only do you increase the chances of them becoming repeat visitors but it also increases the chances of them purchasing your goods and services.