Credit Facts You Need to Know

Credit Facts You Need to Know

Knowing and maintaining your credit score is an important part of living the lifestyle you want. Here is some basic information you need to know about credit. Understanding your rights and knowing how to protect your credit is essential to your financial well-being.

No one can remove accurate negative information from your credit report. It’s illegal!
Most negative credit information will last for seven years and a bankruptcy will last ten years.
A credit repair company cannot charge you a fee until the service is completed.
You can, free of charge, request an investigation on any inaccurate or incomplete credit data by writing to the credit reporting agencies.
It will usually take up to 30 days to investigate an inaccurate or incomplete credit data.
After an investigation, the credit agency will provide you with a report on the investigation and a free credit report.
To order a free annual credit report from all three credit agencies visit annualcreditreport.com, or call 1-877-322-8228.
Credit reporting agencies will never ask you for personal information online. If you suspect fraud, forward the email to the FTC at spam@uce.gov
Information you need to provide for your free credit report: your name, address, social security number and your date of birth. Each company may also request additional information to verify your identity.
When you order your credit report by phone or by mail, it will take up to 15 days to receive your report. Requests online will allow you to view your report immediately.
You can stagger your credit report request from each agency throughout the year to help monitor your credit.
Any creditors, insurers, employers, and other businesses that require your credit report in order to evaluate your credit may request your credit report.
Your employer must have your written approval to request a credit report.
A credit score is a system creditors use to decide whether to give you a loan and how much interest to charge you.
If you suspect that your identity has been stolen, contact your credit agency to place a Fraud Alert, contact your bank and/or creditors, file a police report and file an ID fraud complaint with the FTC at www.ftc.gov/idtheft
Perform an annual credit checkup yourself. Here’s how: http://dsef.org/2011/08/31/its-time-for-your-annual-credit-check-up/
For more information about how to maintain your credit visit www.ftc.gov

Keeping in mind these basic facts will help you spot any problems in your credit that may arise and allow you to make more informed decision about your financial life.

How are you taking charge of your credit and finances? What would you add to our fact sheet? We would love to hear your suggestions and tips in the comments!

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Want to Work From Home? Tips for Getting Started as an Entrepreneur

Want to Work From Home? Tips for Getting Started as an Entrepreneur

Do you wish you could find a job that will let you work from home and make your own schedule? Have you ever considered becoming an entrepreneur and owning your own business?

Many people start a business because they think they have a great idea, or a product or service that will make money. Some people start because think that they can do something better than the businesses already out there. Other people are introduced to a business by a friend, and join because the timing is right or they love the product line.

When you decide to jump into entrepreneurship, here are some thoughts to consider:

Who would be your customers?
Where could you find these customers?
How much money do you need to start this business?
What makes your business special?
Are you passionate about what you will be doing?
What other resources do you need?
What’s your financial goal?
Are you willing to invest a lot of time and energy into this business?

If you’re still interested in pursuing a business, here is a handy site from the Small Business Administration. It contains step-by-step instructions and advice to starting your own business. http://www.sba.gov/content/follow-these-steps-starting-business

You might also consider a direct selling business. Legitimate direct selling businesses offer low start-up costs, a proven product line, training, and support. Many of these companies are members of the Direct Selling Association, and agree to comply with the DSA Code of Ethics. You can learn more about direct selling, and how to find an opportunity that’s right for you, here: http://www.directselling411.com/

And if you do decide to take the leap and start your own business, we congratulate you! Great countries are built upon entrepreneurs like you.

The DSEF is here to help. If you have any questions we’re here to provide the answers and support for you to succeed! So, what’s your first question? We’d love to hear how your business is going!

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Ethical Selling

Ethical Selling

When we think of selling, we often think of the shady used car salesman. The whole idea of selling anything is often uncomfortable for people. It requires a mind shift to move into your comfort zone when selling. Imagine that selling is more like helping a friend. And it can be. In fact, that’s the foundation of ethical selling.

Here are some ways to make the selling process more comfortable, natural and lower stress.

Start in your own backyard, your community. Talk to people you know, your friends, neighbors, and the people in your town. Gradually build and network outward with people with whom you have something in common.
Build friendships (clients) based on common interests. Share things that are happening in your town, church, local organization, in charities, in local sports, cultural events, schools and local businesses.
Listen, have conversations, and develop friendships within your community. Find out who has problems that your products/services can help. When you genuinely care about people (clients), you’ll find that providing your products/services doesn’t feel so much like selling, but more like helping.
Develop the skills to figure out who needs your help. For this, you will need to learn networking skills, develop a positive attitude that attracts people, develop good listening and communication skills, and act comfortable in your own skin even when you don’t feel entirely comfortable inside.
Remember, make friends with everyone. Even the people who don’t require your help can be your ears and eyes for others who may need your help.
Share testimonials. During the transaction process, focus on how the product/service has helped you and/or share testimonials on how it has helped other people. Make it less about the selling process and more about how it will help them.
Continue to nurture your friendships. It will bring personal fulfillment, grow your network and create more loyal customers.

This way may take a little more work and time. But, it will make selling feel less like selling, while you focus on matching people with products and services they actually need, while also building fulfilling relationships. Ultimately, your financial success will also include the satisfaction of really caring about other people.

To learn more about ethics in sales, and the DSA Code of Ethics in direct selling, check out this series of videos.

What are some effective, ethical sales techniques that you use? We would love to hear your tips and comments.

Free e-book “Business Owner’s Road Map to Success.” It has over 50 pages of techniques for everything a small business owner needs to master, from business planning and ethical selling to a success mindset. It’s all there and it’s free for you. To get it, just “Like” our Facebook Page here: http://on.fb.me/KsIN6P Pass it on!

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More Marketing Ideas for Small Businesses

More Marketing Ideas for Small Businesses

When you’re in business for yourself, marketing is incredibly important. You need to get the word out about your business, and there are specific strategies you can use to market yourself effectively.

Before you begin, have a plan, target audience and goal in mind. For instance, a discount or promotion to reward your loyal clients, or provide free delivery for clients who are new moms is a plan, aimed at a targeted audience and has specific goals. Include in your plan a way to measure your return on investment. This way you’ll know if it worked and how well it worked.

Here are some tips to help you market your business:

Become a contributing expert for a blog or local news media.
Start a Facebook page for your town and be a positive voice for what’s happening in your area.
Start a YouTube channel and provide tours of your town.
Partner with other businesses in your area to increase word of mouth.
Offer workshops, teleseminars or webinars
Display signage on your cars, t-shirts and temporary signs on lawns (with permission).
Organize a charity collection or fund raiser.
Hand out tip cards to solve problems that relate to your business.
Sponsor free car washes.
Sponsor free sidewalk address number painting.
Sponsor a street performer/artist to promote your business.
Promote causes and charities in your area.
Sponsor free workshops to help people in your community, like a math or personal defense workshop.
Make yourself and your business memorable. Be known as the lollipop giver.
Showcase testimonials in your marketing.
Hold special promotions like client of the month.

The best marketing is providing your customers with consistent excellence and memorable service that they’ll tell their friends about.

How do you market your business? Please share in the comments!

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8 Steps to Create a More Efficient Business

8 Steps to Create a More Efficient Business

For many of us, maintaining our business is what we focus on every day. We rely on what’s been working and old routines. However, by implementing small changes, you can make your business more efficient and more profitable.

Here are some tips to help make your business more efficient:

Create or review and if necessary revise your business plan to help you focus on your business goals.
Make a chart highlighting your goals and include a calendar that shows daily steps toward obtaining your goals.
Implement schedules and budgets. Create schedules to clarify time management, and carefully track budgets to reduce expenses.
Formalize your processes. To start, walk through processes that your business uses frequently. Then, formalize best practices and methods in that process. This will make things run more smoothly and reduce confusion.
Use practical technology to make communication better, to help yourself stay better organized, and to save money on paper and wasted time.
Provide a forum for feedback from team members and customers. People who do the work every day or use your products/services can help stream line your business processes and generate positive buzz.
Do a formal business assessment. Evaluate your duties, schedules, budgets, processes, technologies and feedback from employees and customers. Ask yourself if these processes can be done more quickly, reduce waste, do double duty, generate more customer satisfaction, and save money. Your assessment could be done quarterly, bi-annually or annually.
Think through new processes. Prepare a plan to roll out new systems/ideas, assess their implementation, and deal with adjustments and complaints.

Businesses that improve will succeed, and efficiency is key! In assessment, we try to reduce errors and build upon successes.

How do you make sure your business is running efficiently? How do you review/adjust? Would love to read your thoughts in the comments below.

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22 Ways to Earn Extra Money

22 Ways to Earn Extra Money

There are many reasons to take on extra side jobs. Sometimes we need to make extra money because we want to save up for something, or simply have extra spending money. Sometimes it’s just for the pure enjoyment of working on a job we love. And for some, it’s to test the waters and see if we have the entrepreneur “chops.” For many it’s most likely a combination of reasons.

Whatever your reasons, here are some ideas to make extra income:

Pet sitting/walker
Pet grooming
Lawn mowing/ Lawn maintenance
House or Business cleaning
Selling homemade goods on a site like Etsy
Kids party organizer
Childcare
Senior care
Personal baker
Personal cook
Personal spa treatments
Substitute teacher
Tutor
Specialized skill services – like teaching a foreign language, sewing, teaching music, etc.
Local delivery service
Personal car washer/detailer
Sell baked goods
Personal chauffeur
Garage sales
Handy fix-it person
Painter
Direct sales opportunities (this can be part time or full time, depending on how much money you want to make)

You might even want to partner with your older kids. It’s a great life lesson, and a great way to teach finances, goal setting and math in a practical application.

Do you have other ideas to generate extra income? Do you use life experiences to teach your children about finances and math concepts? Would love to read your thoughts in the comments

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Feeling Stuck? Tips to Get Yourself Moving

Feeling Stuck? Tips to Get Yourself Moving

Call to action!

There are times when you just don’t want to do something, or you feel it’s too overwhelming to even begin. Here’s a process that can call you to action!

Write down your goal and post it somewhere you will see it. Include how it will make you feel when you achieve your goal.
Create a simple and easy work mantra – for example “One more step to get ahead!” Saying your mantra as you work will help cancel any negative thoughts as you work through your task.
Ask yourself, what would get you moving? It might be turning on some loud music, posting motivating quotes around your work area, turning on all the lights to make your work area brightly lit, using motivation tapes, setting a loud timer, and/or asking a friend to be your accountability partner.
Break it down to smaller tasks, and if it’s an extremely large goal, break it down by time. For example:
• 5 minutes to finish the first step
• 10 minutes to finish the second step
• 15 minutes to finish the third step
Consider how you break down the time. Make sure it’s appropriate to complete the task.
Give yourself small rewards in between completing several steps toward your ultimate goal.
Change location. If you can’t work at home, then go to the library or to the park.
Be positive, use positive words and never beat yourself up.
Keep going. If you get off schedule, just dust yourself off and start where you left off.

Life is like a river. Your action is like a boat and paddle. Use it to get to where you want to go, or you may end up going nowhere.

How do you get yourself motivated? How do you get through difficult tasks? Would love to read your tips and advice in the comments.

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How Can Partnerships Grow Your Business?

How Can Partnerships Grow Your Business?

Have you ever considered forming partnerships to grow your business? They can be powerful!

How does entering a partnership help grow your business? Imagine, your local health food store partnering with your local gym, a make-up artist with a wedding dress store, a caterer with a cookware store and an interior decorator with a real estate agency. Imagine the possibilities for your business! And if you’re a new business, what an effective way to promote and build your new business.

Entering partnerships to grow your business

The benefits of partnering with another business:

Increase your customer base quickly.
Increase word of mouth and exposure in less time.
Share business expenses.
Provide greater value to your customers.
Increase expertise and knowledge.

Here’s your checklist before entering into partnership:

Find someone local to partner with.
Be completely objective in picking the right partner. (Don’t just pick your friends…be sure it’s a good match for your business.)
Find a partner with complementary products or services and not a competitor – for example a shoe store with a clothing store, a vitamin distributor with a health club, or a chocolatier with a wine shop.
Know what you want from the partnership, and set goals that you want as outcomes.
Write everything down. Clearly state expectations and responsibilities, and consider drawing up a contract.
Anticipate and discuss all the challenges and problems before partnering.
Start with a single project before doing more together or becoming long term partners.

So if your business is slowing down or needs an injection of new mojo, a partnership might be in your horizon. Follow these tips and make your new partnership a success!

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The Power of a Plan and 30 Days

The Power of a Plan and 30 Days

There are shelves and shelves of books written to help people succeed. Countless speakers from every persuasion that will show you the “secret to success” and coaches will make sure you get there! Many of them are legitimate. But even with all the help, you will have to do the work yourself to make it happen.

So are you ready to get started? Here are some basic steps, without the bells and whistles, to reaching your goal, along with a plan to help you reach a goal in 30 days.

Step 1 – What do you want or don’t want? Answering this question establishes your goal, either to achieve something or to avoid something. Write it down!

Step 2 – Identify and write down the joy you will feel when you achieve what you want, and identify the pain of not achieving it. This is your why and purpose. Make your why statement part of your business mission.

Step 3 – Take a break and watch this video clip about the possibilities in 30 days!

Matt Cutts: Try something new for 30 days – http://ow.ly/6nRw1

Step 4 – Start today. Break down your goal into 30 days. Write down at least one step necessary to achieving your goal every day. If your plan requires more than 30 days to accomplish it, then start with the first 30 days, and then keep going until you achieve your goal. Give yourself from 5am until midnight (or whatever your schedule is) to accomplish your task(s) every day. This is your plan.

Step 5 – Include time to savor your journey and think about your experiences.

This simple process will create change and help you build momentum! You can do it! Remind yourself why every day.

How do you create the discipline necessary to achieve your goals? What would you add to this list? We’d love to read your thoughts in the comments below!

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Keeping Your Personal and Business Finances Separate

Keeping Your Personal and Business Finances Separate

Are you keeping your personal and business expenditures separate? This is a daily task that can get muddy for small businesses quickly, and can make tax time a real headache.

Here’s a checklist to keep this task simple and clear. Follow these simple steps and you won’t get things confused when it’s time for filing your taxes.

Maintain separate checking accounts. Having all business payments and expenses on one bank statement will give you a clear idea of your business finances, and when it comes time to do your taxes you can use your bank statement to clearly explain your business accounting.
Use a business credit card. A business credit card will help your business build credit history as your business grows. Keep all your business expenses on one statement and avoid using your personal credit card for business.
Maintain two separate places for personal and business receipts. If you have a very small business it may be as simple as two shoe boxes. Use one box for business expenditures and another for personal. As your business grows you should use some type of accounting software.
Keep a log of your business expenses. For example, if you use your personal car for business regularly write your mileage down, or even better, keep track of it on your computer/smart phone.
Your home office is for business, period. If you have a home office for your business and want to claim it on your taxes, you need to keep it for business use only and not anything else like a guest room.
Understand what a business expense is and what it is not. You cannot add personal activities into a business meeting and call it a business expense. It must be for business completely or it’s not a business expense.

Following this simple checklist will help you during tax time because your personal and business finances are separate. Now you can focus on growing your business!