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Hub You - Russ Dalbey - Eight Tips for Building a Successful Cash Flow Business
Price reflects the value sacrificed for the acquisition of an item at the moment of purchase; therefore price paid is a historical fact and does not necessarily reflect the value of the item after the transaction, since this may change. Value changes when supply or demand changes. If the value of an asset that was acquired at a specific cost changes in the course of time, the accounting records will no longer reflect its value.When recording accounting transactions at historical cost it is assumed, by implication, that prices remain stable. This is obviously not so in practice and consequently profit determination in a period of rising price levels poses a problem. The price of the acquisition or expense is not necessarily a reflection of the value sacrificed.Price level changes can be general or specific in nature. General price level changes reflect increases or decreases in the value of the monetary unit. Prices are expected to show a specific trend. If an item was $10 three years ago and the same item now costs $20, it may be concluded that the price level has risen, the buying power of money has decreased and that there is inflation. Specific price level changes can result from technological advances, changes in consumer demand, etc.If the value of money changes, measuring accounting transactions in terms of stable monetary units is obviously not a suitable method. Financial accounting statements should be adjusted for the following reasons: (1) To create a more accurate basis for the evaluation of the investment in an undertaking, (2) To enable meaningful comparisons between the results of different years and (3) To make comparisons between undertakings more meaningful.Adjusting for price level changes can be partial adjustments, general adjustments or specific adjustments based on current replacement value.Partial level changes affect those assets that have a relatively long lifespan, for example fixed assets subject to depreciation and acquisitions where there is a lapse of time between the time of acquisition and the allocation of that cost to the accounting records for a specific period. For example, inventory.In some countries, the financial statements of an undertaking are adapted to reflect the general purchasing power of money as at the last day of the accounting period (general adjustments). Usually an index, such as the consumer index, is used to convert historical amounts to current purchasing power equivalents. The purpose is to convert all amounts in the financi
The importance of following up has been clearly illustrated by the National Sales Executive Association (NSEA), a trade organization for professional salesmen. Their remarkable statistics demonstrate that vast majority of deals are closed from the 5th through the 12th contact! Here is the data compiled from research by the NSEA:<
For centuries the four poster bed has been considered the ultimate dream, for practical, status or for romantic reasons. This still seems to be the case today, although wood and plastics are being used to make four poster beds as well as the traditional solid woods.As a business devoted to customer satisfaction, we would like to give our clients the designs that they want, and not make what we want, and expect or hope that they like them, or not as the case may be.The best thing that product manufacturers can have from customers is feedback. It has become clear to me that negative feedback can be as useful, if not more so than positive. Constructive criticism and the reasons for not liking a product can often be more productive than a pat on the back.Many business gurus believe that businesses can grow to be hardly recognisable from how they started within five years, as they develop to meet market demand. Markets change, and it is said that clever businesses should keep up with customer taste. It has also been said that the best businesses anticipate what the customer wants. Others say that cutting edge businesses give the customer what they want, before they even know they want it, and so define fashions.So why do markets change? Why do people stop buying a certain style of furniture that has been fashionable for years? You know that the product is good because the customers that have bought it previously are delighted, and told you so. You know that the quality is good, as there is no negative feedback. We have been making quality coffee tables for years, but in the last twelve months, I have not sold one!With four poster beds, I can understand issues other than design coming onto play when they do not sell. Interest rates and mortgage rates going up all reduce expendable cash. Enquiries are often less during February, reflecting credit card payments after Christmas. The telephone is quieter during August as people are away on holiday. As the years go by, businesses will notice their individual busy and quiet seasons.The problems may begin when a traditionally busy season is quiet. You find yourself questioning quality and price, and finally you wonder whether the product is no longer in fashion, or perhaps less people are looking at the type of product that you are offering. Instead of designing and developing a new product that you feel may be more suitable, or throwing money at ideas that may or may not work, surely it would be easier and more economical to ask customers what they
As with any business, there is a learning curve involved with consistently making the largest profits possible with the smallest amount of effort. So, to ensure that you close the most deals possible, follow these eight simple guidelines:
Tip #1: Build relationships, not one-time deals.
Regardless of whether you are a full-time note broker or just working with notes part-time, conduct business to ensure that every transaction ends on a positive note. While it is true that there are billions of dollars in cash flow notes in North America, the actual network of finders, brokers and investors who work in the secondary finance market is fairly well-connected and tight-knit.
If you plan on being in the business for longer than a few months, you want to build a reputation as a knowledgeable, efficient and honorable businessperson. The odds of you conducting repeat business with a past contact are good if you leave a good impression in the minds of the note holder, co-finder, or investor – even if the deal falls through and does not close. Word that you take care of business and treat people as you would want to be treated will spread fast. The only message that will travel faster is the grumbling of dissatisfied customers. The impression that will radiate throughout the note community about you is ultimately up to you. The heart of the note business is not really numbers and dollar signs. It’s people working with other people to find a workable solution to a problem. The human and personable service you provide is a large part of what will make others in the note business remember your name, keep your business card, and call you FIRST the next time they need help with liquidating a note.
Tip #2: Follow through to maximize your note deals.
Don’t make the mistake of assuming that “following up” or calling people back after you haven’t heard from them in a week or so will be construed as being too eager or annoying. Most note deals are not closed on the first attempt. And the vast majority of them do not get sold to the first offer, or even the highest bidder.
The importance of following up has been clearly illustrated by the National Sales Executive Association (NSEA), a trade organization for professional salesmen. Their remarkable statistics demonstrate that vast majority of deals are closed from the 5th through the 12th contact! Here is the data compiled from research by the NSEA: Guideline Market Research - 85% Consumers Prefer Small Screen For Movies
A recent national market research by Guideline, Inc. one of the nation's largest providers
of Market Research Expert Consulting and International Research shows that,
85 percent of consumers typically watch movies at home on the small screen. Even when it's a movie they want to see, 49 percent of respondents said they usually wait to purchase or rent the DVD.To better understand consumers' perceptions and preferences related to movies, we conducted an exclusive survey among 1,000 consumers. Furthermore, to ensure the
survey addressed all the current issues facing the movie industry, Guideline worked with members of
the Promotional Marketing Association's (PMA) Entertainment Advisory Board, which represents all of the major studios in Hollywood, CA companies, to help craft the survey."Guideline's study affirms that DVD spending and consumption remain strong
with more people enjoying movies from the comfort of their homes than in
the movie theater," said Frank Dudley, Guideline's Vice President of
Marketing. "However, despite the many movie-viewing options available,
a quarter of consumers still prefer the big screen."According to Guideline's survey research men are more likely (28 percent) to go
to the cinema to see the movie before it comes out on DVD, and women are
more likely (31 percent) to wait for the movie to be released on DVD so
they can rent it. Gender aside, 22 percent usually go to see the movie
on the big screen first.There are several reasons why these movie fans prefer to see their flicks
in the theater. Most of the survey respondents (46 percent) just simply
like seeing movies on the big screen. Another 46 percent of respondents,
particularly younger moviegoers, share the opinion that it's a fun activity.
Also, the survey found that consumers like to see the movie as it was
meant to be seen, eating popcorn and watching the movie without any
interruption.Because a movie's box-office gross revenues decline about 50 percent each
week following its release, there has been much debate about simultaneous
and accelerated releases to DVD. However, market trends indicated
that 56 percent said releasing the DVD shortly after a movie comes out has
no effect on their motivation to buy or rent the movie. And, another 20
percent say that they think it must be a bad movie and are less motivated
to buy or rent it.Regardless of when the DVD is released, sales continue to grow. According
to the 2005-2009 Communications Industry Forecast on The DV
If you plan on being in the business for longer than a few months, you want to build a reputation as a knowledgeable, efficient and honorable businessperson. The odds of you conducting repeat business with a past contact are good if you leave a good impression in the minds of the note holder, co-finder, or investor – even if the deal falls through and does not close. Word that you take care of business and treat people as you would want to be treated will spread fast. The only message that will travel faster is the grumbling of dissatisfied customers. The impression that will radiate throughout the note community about you is ultimately up to you. The heart of the note business is not really numbers and dollar signs. It’s people working with other people to find a workable solution to a problem. The human and personable service you provide is a large part of what will make others in the note business remember your name, keep your business card, and call you FIRST the next time they need help with liquidating a note.
Tip #2: Follow through to maximize your note deals.
Don’t make the mistake of assuming that “following up” or calling people back after you haven’t heard from them in a week or so will be construed as being too eager or annoying. Most note deals are not closed on the first attempt. And the vast majority of them do not get sold to the first offer, or even the highest bidder.
The importance of following up has been clearly illustrated by the National Sales Executive Association (NSEA), a trade organization for professional salesmen. Their remarkable statistics demonstrate that vast majority of deals are closed from the 5th through the 12th contact! Here is the data compiled from research by the NSEA:<
High growth incorporation tends to choose venture capital funding to hasten the next growth phase. Venture capitalists who focus on the company's growth pattern don't require the pledging of assets as required by lenders like banks.Venture capital financing is an option for corporations with a unique corporate proposition that may earn high returns on investment of at least 30% a year. These corporations require large outlays of capital. Venture capitalists normally take an ownership stake, to share in the corporation's business risk and profits. Therefore, it may become one of its institutional shareholders. In return, the corporation will benefit from the financial and operational support provided by the venture capitalist's management team.An important consideration for the corporation is to obtain enough capital to capture market share quickly and additional funds raised through a venture capitalist can give the corporation sufficient working capital to market, brand and sell the company's products.Having an institutional shareholder or venture capitalist in a corporation, gives confidence to your customers, as the shareholder would have done due diligence on the corporation and there is a brand associated with it.Having a venture capitalist on board also means that corporate governance is part of the company's policy from the start. However, a drawback of venture capital financing is that a corporation may feel a lack of control as the venture capitalist has stringent covenants like not allowing the corporation to change its business direction without prior approval.Some corporations can't understand the difference between lending and investing, as defined by the venture capitalists; they invest based on the risk and value of the company and when it's mature for exit, they get a higher value. So, it is not about lending in the conventional banking sense. When a corporate man approaches a bank, he usually asks how much the interest is, the interest payments and what the principal is.A corporation may also fear that the venture capitalist may pull out by selling or diluting its stake, if the corporation doesn't perform well. This is one of the reasons a corporation resort to bank borrowings instead.A corporation should view venture capitalists as committed to invest in the company's growth, thus creating value for themselves while providing strategic guidance, business network contacts and sales referrals.It is advisable that corporations to be prepared to give up th
Tip #2: Follow through to maximize your note deals.
Don’t make the mistake of assuming that “following up” or calling people back after you haven’t heard from them in a week or so will be construed as being too eager or annoying. Most note deals are not closed on the first attempt. And the vast majority of them do not get sold to the first offer, or even the highest bidder.
The importance of following up has been clearly illustrated by the National Sales Executive Association (NSEA), a trade organization for professional salesmen. Their remarkable statistics demonstrate that vast majority of deals are closed from the 5th through the 12th contact! Here is the data compiled from research by the NSEA:<
and fruitful beginnings…In life, a process that begins properly will increase the chance of accuracy all the way through and a successful conclusion. The world of commercial finance can be complicated as every project is unique. There are many programs and products available but every application is as different as the applicant. The part of this process that is universal is the preparation. Some may tell you that luck is the residue of preparation but in reality, preparation is the prerequisite for sustained success. Whether you are starting a business or seeking to expand one, the fundamentals of preparation cannot be forsaken and discipline must be applied. This article intends to address the commercial loan process and how one begins a business and sustains growth and prosperity.Starting a business for the first time can seem like one of the most difficult things you do but if you view it as a process and not a destination, the journey will be far more pleasurable and the rewards, more sweet. Some people like to dive right in and start plotting and planning how much money they’ll make and how they’re going to make all this money. Such a dive may often be a flop, as it lacks meaning. Aristotle once said: Life without purpose has no meaning. The purpose of diving right in appears correct, as one eagerly rushes to make money but what’s the meaning of starting your own business and have you defined the parameters? So to begin, let’s explore some procedures of the process.1. Define who you are? – Yes, that means exactly what it states. This part is scientific but you don’t need to be a scientist or a psychologist or even a psychiatrist, as none of those professionals will ever know you as well as you know yourself. For instance, if a man is seven feet tall then he probably shouldn’t be entering into the field of becoming a horse jockey. It’s not a question of “can” he succeed but it’s a matter of what the reasons are that no horse jockeys are seven feet tall. Unless that is a burning desire that won’t fade, he’s better off seeking more reasonable measures. Once defining the science of who you are, you must then explore the art of who you are. The art of who you are is your characteristics, your imagination and thoughts and how you express those traits in your respective society. Understanding your art will assist you in how you locate your market and how your skills are best exhibited. If for instance you lack patience, then you probably shouldn’t be working with children, as patience is an esse
Tip #2: Follow through to maximize your note deals.
Don’t make the mistake of assuming that “following up” or calling people back after you haven’t heard from them in a week or so will be construed as being too eager or annoying. Most note deals are not closed on the first attempt. And the vast majority of them do not get sold to the first offer, or even the highest bidder.
The importance of following up has been clearly illustrated by the National Sales Executive Association (NSEA), a trade organization for professional salesmen. Their remarkable statistics demonstrate that vast majority of deals are closed from the 5th through the 12th contact! Here is the data compiled from research by the NSEA:<
Are you interested in trading the futures commodity market? If you are, you may want to do so with the assistance of an educated, knowledgeable futures trading broker, as a large number of traders do. If you don’t already have a futures trading broker in mind, you will need to find one. To do this, you are advised to use the internet, preferably a standard internet search.Although it is important to know how you can go about finding a futures trading broker, you will want to do more than just find a broker, you will want to handpick one. To do this, you may need to do a little bit a research. When it comes to choosing a futures trading broker to do business with, there are a number of important factors that should be examined. One of those factors is the costs. You will want to make sure that you choose to do business with a futures trading broker that you can afford. Another important factor to examine is reputation. You will want to make sure that you do business with a futures trading broker that has a positive track record and a successful one.In addition to cost and success, you may also want to examine the commodity futures trading system used. A commodity futures trading system is a term that is sometimes used to describe the way that a futures trading broker operates their business or assists their clients; clients just like you. One example of this is the company software used. Many futures brokers require that their clients download their software, which should be able to give them access to real-time market stats and much more. The first step is finding out if such a program is used. Then, you may want to learn more information about it.A commodity futures trading system can also be used to explain the type of trading accounts that a futures trading broker has available. When examining this part of a commodity futures trading system, you will want to look for a futures trading broker that has a number of different accounts available. If you are just getting started in futures trading, you may want to look for accounts types designed for beginners, like yourself. These types of accounts tend to include professionally managed accounts, as well as full-service accounts. Discounted accounts or cheaper accounts, such as online discount accounts or just broker assisted accounts, are often designed for those with some type of futures trading experience.The above mentioned points are just a few of the many that you will want to look at when examining the commodity futures trading system used b
The importance of following up has been clearly illustrated by the National Sales Executive Association (NSEA), a trade organization for professional salesmen. Their remarkable statistics demonstrate that vast majority of deals are closed from the 5th through the 12th contact! Here is the data compiled from research by the NSEA:
2% of sales are made on the 1st contact
3% of sales are made on the 2nd contact
5% of sales are made on the 3rd contact
10% of sales are made on the 4th contact
80% of sales are made on the 5th -12th contact
Even more compelling – 95% of your competition will drop a prospect after the third try. Notice that the figures above show that putting out 25% more effort than your competition (by making the fourth contact) will typically improve your sales by 100%!
Also, specific to the note business – you may often hear from a prospect, “Sorry, the note is already sold.”
Keep in mind that different people have different interpretations of the term "sold." Unless the note holder and finder(s) have actually received their payments and all the paperwork is signed and filed, the deal is still in limbo.
So if you’re told “sorry, the note’s already sold” you should always respond –
“Well, congratulations! I’m sure you’re glad the sales process is over and that you're happy to have received your check. Do you mind me asking how much you got, so I can get a feel for the market value of a note like yours in the future?"
If they end up telling you they haven’t actually gotten the check yet, BINGO! The note isn’t sold yet. Now find out if the seller has signed a commitment letter with an investor yet to sell their note. If you are told they haven’t even done that yet, then you are still able to make an offer.
Always take another 30 seconds to inquire a little deeper and make sure the deal is really gone. Don’t give up the second you hear “the note is sold.”
Even a seller who has verbally promised an investor that they are going with their offer can change their mind and go with a different investor if they haven't signed a COMMITMENT LETTER yet. So always ask if they've done this. If not, tell them that you might be able to bring them an offer that gives them $500-1000 more – if they can give you a day or so to work
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