I have heard from many people who are just paying the monthly minimum, but keep on using the card. The result is that the debt just keeps growing and growing and every payday a larger part of their salary is being used to service their debt. These people want a path toward financial freedom, a place where they control their finances, instead of their finances controlling them.

The problem so many of these people have is that they want very badly to gain control of their finances, but they lack the motivation to keep on track, to keep taking the steps they need to take to make that dream happen.

For those people I offer in this article, five steps to financial freedom, steps by which you can seize control of your finances. These steps are based upon the model for self motivation. They serve the dual purpose of not only helping you get back on track, but also keeping you motivated to stay on track.

Step 1: The first thing you need to do is to understand why you want to seize control of your finances. The more valuable a goal is, the more likely you are to achieve it. So write down all the positive reasons for why you want to regain control of your finances. What will you gain? reduced stress? the ability to buy things you need? a feeling of pride at how responsible you are? Also write down what will happen if you fail to make this change. Will you have to file bankruptcy? Will you lose your house? Will you be miserable and depressed and disappointed in yourself?

Step 2: Determine exactly what regaining control of your finances means in your situation. Clarity is motivating, so the clearer you are on exactly what you are moving toward, the more likely you are to get there. Here are some issues you need to get clarity on. How will you know when you have regained control of your finances? Does it mean reducing your debt? Does it mean living below your means so you can be paying off your debt? Write down what will be occurring in your life when you have succeeded. Every success you have will motivate you even more to achieve another success.

Step 3: Write down a clear description of how you are going to make this change happen. Make a plan. Write down all the steps you can think of that will help you make this change. Will you cut up your credit cards? Will you track your spending for a certain period of time? How long? Will you make a budget? Will you set aside a set percent of each pay check to use toward your debt? Will you need to take an additional, part time job for a while to catch up on your debt? Will you contact your creditors to try to work out a payment plan? Step Three provides two very important motivational impacts. Clarity, as we saw in Step Two, is motivating. But also, a big goal, like gaining control of your finances, is less scary when it is broken down into its component tasks. The less scary something is, the more confident you will be that you can succeed. Nothing is more motivating than confidence in your competence. That’s why it’s factor number two in the model for self motivation.

Step 4: Be in charge. Suze Orman says in The 9 Steps to Financial Freedom, “True financial freedom is not only having money, but having power over that money as well.” Make a conscious decision that you control your financial life. You are the boss! Power is motivating. Acting intentionally is motivating. Being a helpless victim of the economy is NOT motivating. Take charge and you will stay in charge.

Step 5: Find resources that will help you make this change. The worse the economy gets, it seems, the more resources there are for those who need help getting back on their feet.

High rates of inflation can have serious social, economic and political consequences. Some of the effects of rapid inflation are:

(i) It can penalize people on fixed incomes, like pensioners and self funded retirees, because their income does not rise as rapidly as prices, so they are able to buy fewer goods and services.

(ii) Inflation tends to redistribute income from low income groups to higher-income groups because low income groups have fewer real assets like property, which might rise in price, and are in jobs where it is difficult to get a pay rise to help offset the effects of inflation.

(iii) People lose faith in currency as a store of value and often borrow as much as possible to invest in ‘real’ assets like gold, houses and antiques, the price of which tends to rise faster than the general inflation rate.

(iv) Forecasts of the rate of return on capital investments become unreliable, and this makes businesses unwilling to undertake long-term projects. Because of this, future living standards may not be as high as they would have been.

(v) If the rate of inflation in a country is higher than those of its major trading partners, the ability of that country to compete on world markets is damaged.

(vi) High inflation rates lead to higher interest rates.

Different groups in society have different abilities to protect themselves from the effects of inflation. Powerful entities – trade unions, large companies, wealthy individuals – may be able to increase their share of national income at the expense of weaker groups – pensioners, the unemployed, and other groups that depend on social welfare. Thus, persistently high inflation can threaten social and political stability.

There is no single cause of inflation. Rather, at any given time, a number of factors interact to cause inflation. For example, a fall in the exchange rate may lead to an increase in the price of imports, which causes a genera! rise in the rate of inflation. Trade unions may react to this by seeking higher wages, which leads to an increase in the costs of businesses, which causes them to raise the prices of their goods and services. This scenario has happened occasionally in many countries of the world.

The main causes of inflation are:

(i) External factors, such as changes in exchange rates or changes in the price of goods. An example is oil prices during periods of war in the Middle East in the 1990s.

(ii) Excessive demand in the domestic economy. Suppliers of labor and goods and services seek to take advantage of the situation by raising their prices. This is usually described as demand-pull Inflation. It is sometimes associated with excessive rates of growth in the money supply.

(iii) If wages increase faster than the rate of increase in productivity, companies may find it necessary to raise prices to maintain profitability. This is known as cost-push inflation.

(iv) Government-induced price rises can cause the general rate of inflation to increase, for example, rises in indirect taxes raise the retail price of goods and services.

(v) As we have seen, what people think about prices can actually affect the level of inflation, creating a self-fulfilling prophecy; when people expect inflation to rise, they increase their prices, thus ensuring that inflation increases.

There are many different sources of problems that cause you to require reputation management. Many of them can originate from your competitors who use blogs, forums and various consumer option sites to spread negative information about your company. Another set of problems you will face is caused by dissatisfied customers who take to various consumer complaint sites on the internet in order to write about any unsatisfactory experience they might have encountered with your company.

Whether or not there is any validity to these complaints and negative comments, they will be visible to all people who go online to find out about your company or product. This can turn out to be very expensive for you because your online reputation will take a serious beating.

Another problem you will face is from other companies that infringe on your trademark in order to sell counterfeit products. The products and the online experience that these fake websites offer will result in customers losing faith in your company. Most customers will not even know that these fake websites have nothing to do with your company because there will only be a slight difference in spelling on the URL and the overall look of the website will be similar to yours.

A company that is experienced in online reputation management will be able to help you monitor your brand so that you do not face threat from any of these sources. It will use a variety of tools to find out the different ways in which your company’s reputation has been threatened and will take corrective action. A good online reputation management company will ensure that people who are searching for your company online will only encounter listings that show your company in positive light. This is achieved not just by reacting to negative listings but by acting proactively to make your website feature high on search engine listings. You can ensure that your business prospers with effective online reputation management.

The highs and lows of business

In everything in life, there will be highs and lows. Business likewise, is no exception. There will be high sales periods as well as low sales periods, both periods are necessary for maintaining balance in business. Both are necessary forms of feedback and any serious minded entrepreneur should focus on making the most of both periods whether highs or lows rather than choosing one over the other. This is a fact of life and its better you get used to it and learn how to make the most of it.

As humans, it is only natural to think in dichotomies; positive and negative, good and bad, black and white, high and low, hot and cold, pain and pleasure and all others. The truth is this; we need both shades of dichotomies to maintain balance here on earth. Those things we refer to as unpleasant are actually the ones that make us better human beings.

After all, we are creatures of feelings, and the unpleasant ones tend to drive home the point faster than the pleasant ones. In other words, we learn better from our mistakes than from our victories. The same principle applies to the business world. You cannot have one side and reject the other; both are necessary and have their benefits.

Somehow, entrepreneurs don’t seem to have any problem dealing with high sales periods; after all, we don’t ever get tired of having more. But when it comes to the low sales periods, all hell seem to break lose. This unusual article is about knowing what to do when business is dull or slow. It will help you make the most of the low sales periods every business usually encounters every once in a while. It is very important to know that some low sales periods are self inflicted and others are not. I have decided to write this because one of the businesses I run is currently in this phase and I am becoming a better entrepreneur as a result.

Strategic Actions To Take During Low Sales Periods

1. Diagnose

When things don’t seem to be working out well in terms of revenue for your business, it is an indicator that something, somewhere, somehow is wrong. So, the first step to take is to trace the source of the problem. Meaning, take the pain to find out what is responsible for the low sales you are currently experiencing in your business.

What I have seen most entrepreneurs do when they are experiencing low sales is to lash out frantically looking for a ‘quick fix’ solution to the problem of low sales. I refer to this kind of response as taking wrong actions. In other cases, they simply respond by doing nothing believing that “this little affliction is but for a moment.” I refer to this kind of response as inaction.

Whether you responded wrongly or you didn’t respond at all, both are inappropriate responses to the problem of low sales. Folding your arms doing nothing won’t make the problem go away, and taking the wrong actions would only end up complicating matters. So what do you do?

Like every Physician, you diagnose before you prescribe. First find out the cause of the problem [diagnose] before implementing any solution (prescribe). Spend time on the problem and let the problem give you a clue on what to do. Or else, you might end up treating symptoms rather than the actual disease. Then before long, the problem is back again. Remember, your objective is to solve the problem by understanding the root cause.

As I have mentioned earlier; whether high or low sales period, both are reliable forms of feedback for any business. High or low sales are not accidental; they are outcomes of certain factors. These factors are of two categories;

· Internal Factors: they are set of activities, behaviors, policies, strategies, and all other changes that occur within the walls of a business. They constitute the internal working environment of every business and are usually the making of either the management or the employees. Internal factors are classified either as strengths [positive organizational changes] or weaknesses [negative organizational changes]. These factors if they are the cause of a low or high sales period are in most cases controllable and can be adjusted to alter whatever sales period your business finds itself.

For instance, if the employees of a business are performing at their very best, making sure every customer’s expectation is being exceeded every time they come in contact with the business, this can tremendously boost the sales of the business as it generates positive word of mouth for the business that eventually increases sales.

In the other hand, if the management initiates a drastic policy or strategy that will affect the performance of the employees negatively, this will in turn affect the level of satisfaction customers will get from the business. On the long run, a negative word of mouth is created and sales will eventually drop as a result.

Implying that, whatever changes that occurs internally within the walls of a business, can potentially increase or decrease sales depending on its overall impact on the employees and eventually customers. This is why I emphasized that high or low sales periods are very vital forms of feedback for every business. Never underestimate either of these two sales periods; they are great learning periods for entrepreneurs and the businesses they run.

· External Factors: they are the set of activities, behaviors, policies, strategies, and all other changes that occur outside the walls of a business. They constitute the external working environment of every business and are usually the making of the government, society, economy, nature, technology, culture, competition and so on. External factors are classified either as opportunities (positive environmental changes) or threats (negative environmental changes). These factors if they are the cause of a low or high sales period are in most cases uncontrollable and will be a lot harder to influence in your business’ favor.

For instance, imagine what happened to the typewriter businesses when the computer was invented? This is a classical case of technology as one of the external factors at play in determining the low sales period every one of those typewriter businesses experienced during that era. In fact, the advent of computer didn’t just alter the sales of businesses, it completely annihilated those businesses.

Such is the power and effect of external factors on businesses; they are very uncontrollable in most cases. Most especially for the businesses that didn’t diagnose early to find out the cause of their low sales when computers started gaining prominence as a better alternative to typewriters.

In every high or low sales periods, at the very least, one of these two factors must definitely be at play. Your task as an entrepreneur is to dig deep to uncover the factor or factors responsible for whatever sales period your business is experiencing.

Pick the number of pages

What you want to include in your catalog printing directly determines how many pages you want to print. A 48-page catalog will be much more time consuming and thorough than an 8-page variation, but if you have plenty to showcase, it could be worthy your while. Catalog printing takes time and effort to produce, so if you’re short on one or even both, then it could be best to create a smaller catalog. Either way, look for a printer that is capable of creating the size and quality catalog printing you need to help your marketing efforts succeed.

Take it to a design expert

If you are having trouble coming up with the details and creating the layouts for your catalogs, turning to an expert with plenty of experience in this department will help put you at ease and could give you an edge on the competition. You want each page of your catalog designs to stand out and the text and imagery to be flawless, so work on perfecting that before you take your catalog printing too far. A quality printer will have in-house design services available for your to use in the event that you either don’t have a staff or would like a fresh set of eyes on the design.

Decide on the printing details

Catalog printing creates many choices for your business to make. From the printing process, to the bindery method and custom options, you have to make a lot of decisions before you can solidify your order. When it comes to choosing what kind of paper stock to use, recycled paper can be a great marketing decision if it works with your design and business philosophy. Otherwise, gloss text gives that smooth, high quality look that you can really benefit from. The quantity of your catalog printing, turnaround time and standard size are all other details to iron out before you can place your order.

• Give different gifts to different ranks of recipients.

You should have a variety of corporate gifts available at all times. This is often seen as more expensive since you typically get the best deals when corporate gifts are purchased in bulk. You have to think into the long term to see how this tip plays out.

When you purchase a large order of expensive gifts it doesn’t leave a lot left over in the budget. Unfortunately, if you give those expensive gifts out to everyone you come across, the supply is going to wear down very fast. You will end up purchasing more of those expensive gifts to make sure you have some available for the really big clients you want to impress.

A more affordable alternative is to order cheaper corporate gifts in large orders and smaller supplies of more expensive gifts. This may be a bit more expensive at the outset, but in time you will find yourself having to order less of the more expensive gift options. You can save those for the big clients or others you really want to impress while others who aren’t as important are given the lower priced gifts that are easier to restock.

• Find lower priced versions of high priced gifts which use different materials.

If you find a really nice corporate gift that you would love to give out but find the price tag too high, don’t mark it off as something out of reach. Rather, shop around and find other models of similar gifts that are created from different materials. You can often find something very similar through a different retailer.
The difference is often the quality of materials used, but if it comes down to a lower quality product that is affordable or not having an item at all, the sacrifice may be worth making.

• Shop with corporate gift services that cater to your budget range.

Your final tip for frugal corporate gift shopping is to seek out gift retailers that sell at lower price points. You will be quite surprised to see the great gifts now being offered for just a few bucks a piece. You can also find some quirky and interesting corporate gifts for just a buck a piece.

These lower priced gifts may not be what you want to hand out to everyone you come across, but you will find that they are great options for many situations that you use these gifts in. You may still want to purchase some at higher cost, but knowing where to go for high quality cheap gifts is still a benefit.

You can stretch your corporate gift budget just by looking for high quality lower priced options. You don’t have to search for additional funds or hand out less than appealing gifts to your best clients and partners!

Use a more democratic leadership style.

We all know that nothing can be achieved when done with force. The same is true in running a business. Traditional styles of leadership do not cut it anymore. Instead, a more democratic leadership style is considered more ideal. Being a democratic leader means that first, you are willing to share some “powers” with those under your authority. It means you are willing to take their valuable insights and inputs into consideration as you make decisions. While working toward quality improvement, a democratic leader listens to his team and cultivates an atmosphere without repression. As you do so, you will empower employees and increase the likelihood of more productive outputs and fewer problems. Some people are born with natural leadership skills, and others have to work at it. Taking a few leadership classes or training seminars may be well worth the effort!

Simplify

Regardless of whether you are running a large corporation, a medium sized company, or a start-up business, you would have discovered that a simpler process is much more desirable in ensuring quality improvement. The process of simplifying entails the removal of all extra tasks and routes that bog down the work process. For instance, you can restructure the group to combine departments with similar tasks, use various tools to improve communication, and so on. Ensuring quality improvement is really doable – just as long as the process is simplified.

Be proactive

You probably often read about buzzwords such as “being proactive” and have turned away from them. However, you could be missing out on the positive effects it can have on your management performance. Being proactive entails constantly seeking ways to improve operations and employee attitudes and capabilities, as well as ensuring quality improvement. In contrast, being reactive means acting only when problems emerge, and finding solutions to such problems accordingly. With a proactive approach, you can minimize the occurrence of errors and avert the occurrence of crises in your establishment.

With these worthy business principles that you can apply at work, you can minimize problems and even maximize resources, now that is what every manager should be working toward!

Considering that land is a finite commodity, in other words the land we have is all that we’re going to get, even when the market is down, real estate investing is still a great bet.

However many people are rather shortsighted when it comes to entering the field and only look to buy parcels of land or become landlords – that’s too bad because the real money in real estate is not in ownership of land or building – it’s in the control of the financing that lays beneath it.

If you really think about it there is a reason why banks are not landlords, it’s really too much work. You have to find and qualify tenants; there are day-to-day maintenance issues, personality conflicts and a host of other details that can really suck the enjoyment out of your investment. Furthermore, it may take years before you realize any return on that initial investment.

As a private money lender, you will lend money to other investors and realize an immediate return of 15% or more immediately. These loans can yield a return of 15% or more within six months. I know that may seem too good to be true and in any other field it may be.

However as a short-term lender serving other real estate investors, these deals are structured to be quick and profitable to both you and the investor by saving the time and expense of going through traditional conventional lenders you are rewarded with a swift and attractive return. Private money financers have been supporting the real estate market for years.

By providing the financing for the deals that don’t qualify for conventional financing these private lenders are in the position to inject money into the real estate market and get things moving again while increasing their own net worth. The market opportunities right now has never been better.

Realize a hefty ROI as a Private Rehab Lender

Many investors are wondering if there is any good money left in real estate investing. Of course there is as a private rehab lender!

Due to the recent housing downturn there are an abundance of properties that can be snatched up for less than half of their value. Unfortunately, many banks aren’t lending money and the ones that are lending have strict requirements that automatically disqualify many distressed properties. This is where you as a private rehab lender can realize a very attractive yield on your investment dollar.

Private rehab lenders, also called hard money lenders, lend money to other real estate investors, contractors and flippers to purchase these distressed properties.

Getting started is actually quite easy since you will be lending money to investors and not the civilian retail market you may be able to bypass many of the state regulatory requirements. And bank’s tightfisted lending practices have made finding clients very easy.

There are so many distressed properties available now that investors are able to pick up properties usually at 65% or less of the current retail value, rehab them and still sell at rock bottom prices. I know with the economy still in shambles, it may seem ludicrous to invest in real estate. However nothing was ever gained by hiding in the shadows.

As a private rehab lender I have several things working in my favor no matter the current state of the economy, is, I need not worry about interest rates, unemployment, GDP, the price of gold, etc..

First, private rehab loans are short-term loans that are usually repaid within 6 to 9 months. Second even in a shaky market, I structure the deals to allow plenty of room between what my investor/rehabber has borrowed and what the retail price of the property will be when it’s completed.

Third, if worse comes to worst and I have to take the property back, I have a property at a very low loan to value ratio that I can rehab myself or make a deal with another of my rehabber clients to get done and split the profits.

To be successful as a private rehab lender you may want someone show you the ropes so you can avoid some of the pitfalls and minimize your risk.

Have a Website: This is perhaps, one of the cardinal rules of online marketing. It is important to have a web presence where clients and prospective customers can easily find you. The website should contain relevant information such as the services or products that are offered and the pricing plans. It should also contain a way in which you can be contacted including an email address and a working telephone number. Directions should also be included if you have a physical brick and mortar location.

Search Engine Optimization (SEO): While it is important to have a website, it would be of no use if prospective customers cannot find the website. This is why it is extremely necessary to have your website optimized for search engines. This is what is popularly known as Search Engine Optimization (SEO). If you do not know how to go about this, hiring an SEO professional would help.

Have a Blog: A blog is a way to give a human face to your business. It can be used to share important information pertaining to your business and can also be used to share helpful tips with your visitors. A lot of businesses use a blog as a means of dealing with customer relations problems and the feedback feature of a blog makes this particularly useful. Another advantage of using a blog for your online marketing is that it is also a way to improve your SEO.

Use Social Networking Sites: Social networking sites are a way to network with prospective customers and other businesses in your niche. This is an important form of online marketing because it builds trust, and when people trust you, they are more likely to follow your recommendation.

Create Community: An important aspect of having a blog and making use of social networking sites is to create community. Community builds trust and gives integrity to a business. Visiting blogs in related niches to leave helpful comments is a way to market your business and increase your SEO.
Incorporate Video: Videos create a connection between the viewers and the business and are essential for effective online marketing. Big brands like HP have perfected the efficient use of video to drive their online selling presence.

Email Marketing: If a person is interested enough to subscribe to your email list, then you have someone who would most likely become a repeat customer. Growing your list is an important form of online marketing as product launches can easily be sent to your subscribers.

Paid Advertising: Google and Facebook offer paid advertising programs for businesses. There are other platforms that offer the same. It is important to have a good idea of where your niche market is before you incorporate this into your strategy.

It doesn’t need to be a major overhaul of your business. A few minor tweaks might be enough. The important thing is to recognize the need for action and make informed decisions.

To identify where changes are most needed, you will have to dig for details about various aspects of your business. Don’t focus on individual issues, but how they fit together as a whole.

Start with these 5 areas:

1. Create a New Image
Has your customer base changed since you first started? Is the market broader or narrower, older or younger, more upscale or less? You might need a new image, revved up branding or perhaps just a rewrite of your website and marketing materials.

2. Improve Value Delivered
Take a hard look at whether your products or services are competitive and performing up to customer value expectations. Your goal should be to exceed value expectations. Your own customers can help with this. Talk with your customers and get feedback on how your products or services are adding value to their business and what could be done to improve them.

3. Improve Marketing Results
If your marketing is not generating a large number of leads and buying customers, it may be time to re-evaluate and devise a new marketing strategy. Take a look at your message, presentation, what you are offering and the marketing methods used to reach your target customer.

4. Recapture Your Enthusiasm
Revisit your original business plan. You might be able to recapture some of the insight and enthusiasm you originally had when starting your business. Think back to your most successful promotions, presentations or sales efforts. Rather than reinventing the wheel, you might be able to update and expand an approach that has already worked for your business in the past.

5. Seek Outside Perspectives
Don’t be afraid to seek outside perspectives from others. After all, you might be too close to the situation to understand the key issues, sources and potential solutions. Meet and brainstorm with your trusted advisers, mentors, friends, partners, employees and outside consultants. Ask customers to give you frank feedback.

A few tweaks to your business may be just what is needed to energize your business improvement and growth.