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DSEF & FTC: Payday Mayday: Seek Alternatives to Costly Loans that Can Sink You

DSEF & FTC: Payday Mayday: Seek Alternatives to Costly Loans that Can Sink You

Today’s highlighted blog post from FTC/NCPW:

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Payday Mayday: Seek Alternatives to costly Loans that Can Sink You

The ads are everywhere — on the radio, television, the Internet, even in the mail. They refer to payday loans, cash advance loans, check advance loans, post-dated check loans, or deferred deposit loans. And their promises of quick cash to get out of a financial bind can be tempting to many.

For 13 years, the DSEF has been proud to partner with the FTC and other organizations to offer a wide array of education events and resources that encourage consumers nationwide to take full advantage of their rights and make better-informed decisions.

You’ll find a wealth of resources at www.ncpw.gov that will help you protect your privacy, manage your money, learn more about credit and debt, decipher advertising messages, and steer clear of fraud and scams.

Please take a moment to share the resources on this Web site with others in your communities and companies and, together, we’ll help build a nation of better-informed and educated consumers.

Charles. L. Orr
Executive Director

Teleseminar

DSEF & Money Wise Women: Raising Money Smart Kids

DSEF & Money Wise Women: Raising Money Smart Kids

Today’s highlighted post from Money Wi$e Women Get Smart Teleseminar Series:

Raising Money Smart Kids

Learn how parents can help their children develop a healthy attitude towards money. Janet Bodnar will share a wealth of suggestions, ideas and tips on raising money smart kids — from a young age to college bound teens.

Janet Bodnar

Janet Bodnar is editor of Kiplinger’s Personal Finance magazine. During her career at Kiplinger, Bodnar has written about a wide range of topics on investing, money management and the economy. She is also a nationally recognized expert in the field of children’s and family finances, and the author of several books. Her latest book is Money Smart Women: Everything You Need to Know to Achieve a Lifetime of Financial Security (Kaplan). Praising Money Smart Women, Time magazine noted that Bodnar “avoids the patronizing finger wagging and sticks to giving advice that women can really use.” She speaks frequently on the subject of women and money. Bodnar’s “Money-Smart Kids” column appears regularly at www.kiplinger.com/columns/kids. It was chosen by Moneysmartz.com as one of the top financial columns online. And Bodnar is the kids and money coach on the AOL Coaches site.

DSEF proudly sponsors the free Money Wi$e Women Get Smart Teleseminar Series hosted by Marcia Brixey, Founder and President of Money Wise Women Educational Services and author ofThe Money Therapist: A Woman’s Guide to Creating a Healthy Financial Life. The series covers topics related to business and finances and provides women the opportunity to learn from professional experts in a safe, comfortable environment.

To find out about upcoming teleseminars, visit http://www.moneywisewomengetsmart.com/

Blog

DSEF & CBBB: Helping Small Business Owners Manage Credit Wisely

DSEF & CBBB: Helping Small Business Owners Manage Credit Wisely

Today’s highlighted blog post from the Council on Better Business Bureaus (CBBB)

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Helping Small Business Owners Manage Credit Wisely

BBB and Capital One Managing Credit – Made Simpler Partnership to offer businesses tailored advice and easy-to-follow tips online for free

“Faced with the realities of the economic downturn, millions of small businesses have been forced to take a second look at their finances, including examining their spending habits and how they use credit,” said Stephen A. Cox, President and CEO, Council of Better Business Bureaus. “Regularly examining your business’s finances, including how and why you use credit, is important. BBB’s Managing Credit – Made Simpler provides easy-to-follow tips, checklists, and advice compiled to help small businesses better handle and successfully build their business’s credit record.”

DSEF and Council on Better Business Bureaus (CBBB) fosters honest and responsive relationships between businesses and consumers—instilling consumer confidence and advancing a trustworthy marketplace for all.

About the Better Business Bureaus
As the leader in advancing marketplace trust, Better Business Bureau is an unbiased non-profit organization that sets and upholds high standards for fair and honest business behavior. Every year, more than 87 million consumers rely on BBB Business Reviews® and BBB Wise Giving Reports® to help them find trustworthy businesses and charities across North America. Visitwww.bbb.org/us for more information.

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DSEF & CBBB: Five Facts You Didn’t Know About the BBB

DSEF & CBBB: Five Facts You Didn’t Know About the BBB

Today’s highlighted blog post from the Council on Better Business Bureaus (CBBB)

Click here:

Five Facts You Didn’t Know About the BBB

1.)   We are not a government agency.

2.)    Complaints are handled by the Better Business Bureau office in the area where the company is based.

3.)   The BBB is not a consumer watchdog.

DSEF and Council on Better Business Bureaus (CBBB) fosters honest and responsive relationships between businesses and consumers—instilling consumer confidence and advancing a trustworthy marketplace for all.

About the Better Business Bureaus
As the leader in advancing marketplace trust, Better Business Bureau is an unbiased non-profit organization that sets and upholds high standards for fair and honest business behavior. Every year, more than 87 million consumers rely on BBB Business Reviews® and BBB Wise Giving Reports® to help them find trustworthy businesses and charities across North America. Visitwww.bbb.org/us for more information.

Blog

Stepping Out of Your Comfort Zone

Stepping Out of Your Comfort Zone

The proverbial comfort zone: it is what prevents us from pursuing our dreams and achieving our goals.  The good news is that your zone isn’t a jail cell, but instead a place that you’ve created over time.  Because of this, you are free to leave anytime, but you have to be ready.  Below is a step-by-step guide to breaking out of your comfort zone and growing your business.

  1.  Understand the return on investment (ROI) in stepping out of your comfort zone. Some of these benefits include standing out in a crowd, overcoming your fear, trying new things, and learning more. Imagine what these benefits can do for your business.
  2. Identify someone in your field that you look up to and admire. List that person’s qualities and accomplishments.  Cross out the ones that you have in common.  From the items that remain, rank them in order of importance to you.  You now have a set of objectives to start on, so take them one step at a time.  What can you do right now to begin to achieve the first one on your list?
  3. Put all your cards on the table.  Fear is the most powerful emotion, so assess what you are afraid of that has prevented your business growth.  Pledge to yourself to jump in head first. For example, if the idea of public speaking makes you want to run for the hills, call your local library and set up a workshop.  The venue is small, but will force you to face your fear and make it easier to do again.
  4. Expect and embrace change.  The nature of our comfort zones is that they are predictable.  Even if what you are doing on a regular basis is making you money, you may be leaving a lot of money on the table if you don’t try something new.  Adjust your mindset to one that willingly accepts change because stepping out of your comfort zone will bring about a great deal of it.
  5. Visualize yourself doing it.  Whatever it may be that you are afraid of doing, close your eyes for a few minutes and picture yourself doing it successfully.  The mind is a very powerful thing, and by continually focusing yourself toward the positive, you will be more likely to achieve your goals.
  6. Work backwards.  When developing a plan of action, pinpoint your endgame first.  When you have an outcome in mind, your actions will be more specific and effective.  Furthermore, you will be better able to stay motivated while working toward that end.

 What advice do you have about leaving your comfort zone?  Please share your suggestions with us in the comment section below.

Blog

DSEF & FTC: Thinking about Layaway? Know the Fees Before You Shop

DSEF & FTC: Thinking about Layaway? Know the Fees Before You Shop

Today’s highlighted blog post from FTC/NCPW:

Thinking about Layaway? Know the Fees Before You Shop

November 17th, 2011 by Lisa

As Black Friday draws near, thoughts turn to holiday shopping, and how to get the items you want for a price you can afford.  If you choose to buy using layaway, the Federal Trade Commission (FTC), the nation’s consumer protection agency, has a few holiday tips for you:

  • First, get all the details about the retailer’s layaway plan in writing before you shop.  Look for the terms of the plan — including the time you have to pay for your items, the store’s refund policy for layaway items, minimum payments, and layaway charges or other fees.
  • Second, it’s useful to compare the costs of using layaway versus using credit.  Add up the total amount in fees you will pay at a specific store before you get your item(s) out of layaway.  Then, if you have a credit card, determine how much money in interest you would pay if you charged the same item(s).
  • Third, be sure to check out the store, including online retailers, before you shop there at all. Your state Attorney General’s Office (www.naag.org), local consumer protection agency (www.consumeraction.gov), and your local Better Business Bureau (www.bbb.org) can tell you if consumers have filed complaints against the retailer or online service.

Before you hit the stores, take a look at the FTC’s consumer alert on layaway plans.  Also, if a store fails to disclose important terms of its layaway plan, it may be breaking the law.  If a retailer hasn’t explained its layaway terms, or has otherwise misled you about them, file a complaint with the FTC at ftc.gov/complaint or by calling 1-877-FTC-HELP (382-4357).

For 13 years, the DSEF has been proud to partner with the FTC and other organizations to offer a wide array of education events and resources that encourage consumers nationwide to take full advantage of their rights and make better-informed decisions.

You’ll find a wealth of resources at www.ncpw.gov that will help you protect your privacy, manage your money, learn more about credit and debt, decipher advertising messages, and steer clear of fraud and scams.

Please take a moment to share the resources on this Web site with others in your communities and companies and, together, we’ll help build a nation of better-informed and educated consumers.

Charles. L. Orr
Executive Director

Direct Selling Education Foundation

Blog

Top 10 New Year’s Resolutions for your Business

Top 10 New Year’s Resolutions for your Business

Top Ten New Year’s Resolutions for your Business

Another year is almost through, and just like most of us make resolutions for our personal lives, it is also a smart idea to make some for your business as well.  So before your pop open that champagne and watch the ball drop in Times Square, consider making a few changes to boost your business in 2015.

  1. Improve your time management.  Take an inventory of what your typical day looks like.  What areas lack efficiency? What duties can be multitasked to save time?  Perhaps your daily to-do list is too long.  Prioritize aggressively to get a handle on how much can actually be accomplished in any given day.
  2. Give back to your community.  Remember that your business is part of a community.  Giving back has an endless list of mutual benefits for everyone involved.  Make a point to find one or two local organizations with which to involve yourself this year.  You can find some good ideas here.
  3. Learn something new.  Even if you’ve been in business for decades, there are always new, exciting, affordable, and convenient opportunities to further your business education.  Consider taking a mini-course at the local community college or participating in a webinar hosted by others in your industry.
  4. Get organized.  Whether you’re dealing with actual papers in a filing cabinet or electronic files on your hard drive, organization is essential to productivity.  Now is a good time to set aside any documents you might need for tax purposes, as April 15 will sneak up on you in no time.  Maybe your customer records need updating, your finance software is inefficient, or your desk is buried in paperwork.  Focus on one aspect and bring order to it so you can start fresh in the New Year.
  5. Predict your financial future.  The end of the calendar year is an opportune time to look back on your overhead and sales volume.  Using this information, plan ahead for the coming months so you don’t spend money needlessly and you do make the most out of your current investments.
  6. Set realistic goals.  A goal that is realistic is one that is both specific and attainable.  It’s okay to think big and challenge yourself, but create benchmarks so you have a path to get there.  For example, if you want to increase profits by 50% next year, what has to be done each week and each month to make that happen?  Answers to those questions will guide you in setting your objectives.
  7. Update your website.  Do some exploratory surgery on your website, searching for things like broken or outdated links, unnecessary flash content, and information about discontinued products.  Even a cosmetic reboot may be just what your business needs to start anew in making the best use of your website.  While you’re at it, consider creating or updating your social media presence such as networking sites and blogs.
  8. Back up your files.  In addition to manually backing up files onto a CD/DVD or flash drive, most internet service providers and antivirus software companies offer free or inexpensive online storage services.  Take advantage of these because all it takes is one accident to erase years of data and hard work.  It’s simply not worth the risk.
  9. Ramp up your customer service.  In what areas is your customer care lacking?  Do you procrastinate in making courtesy or follow-up calls?  How long does the average customer usually have to wait before they get a return call or email after making an inquiry?  Make customer service a frequent flier on that to-do list of yours.
  10. Celebrate your accomplishments.  Every once in awhile, it’s important to evaluate what you have done well and give yourself a pat on the back.  As a business owner, you are ultimately the one responsible for every outcome, good and bad.  When you reach a goal or solve a problem, reward yourself by going out to your favorite restaurant or simply taking a much-needed day off.  You will feel re-energized and motivated to forge ahead and tackle the next project or obstacle.

What resolutions have you made for your business?  Please leave a comment below and have a happy, prosperous New Year!

Blog

6 Ways Mistakes Can Benefit Your Business

6 Ways Mistakes Can Benefit Your Business

You get a great idea to offer free shipping. Your customers love it, but you then realize that it is too expensive and you have to discontinue it.

How could you make such a big mistake? Before you berate yourself too much, here are some benefits to consider.

  1. The benefit of realization – You’ve realized that your customers want free shipping. And you realized it was too expensive. That you have to find ways to lower shipping costs and that you can’t just implement something new without investigating the cost.
  2. The benefit of research – You call up other shippers to try finding lower shipping rates, you join a business network to find out more about logistics, and you start talking to neighboring businesses about their shipping suppliers.
  3. The benefit of finding options – You get a lot of advice from peers, you connect with a business advisor at SCORE, weigh options, and think out of the box.
  4. The benefit of learning – You’ve learned that free shipping can bring new customers and make them happy. You’ve learned that certain products are cheaper to ship than others. You’ve learned about SCORE offering business advisors. And you’ve added great new people to your business network.
  5. The benefit of solutions and conclusions – You’ve created new solutions for your business. You can continue to offer certain items with free shipping. You implement a loyal customer rewards free shipping program. You also offer free shipping if people purchase over a certain amount, which helps offset the cost.
  6. But hold on – there’s more! Because of this mistake, you find out that free shipping is a crucial part of your business, you now belong to a business networking group that brings knowledge and referrals, you’ve connect with a SCORE business advisor that has helped you in other areas of your business, and you’ve gained new insights to build your business even stronger.

A keen business person turn mistakes into benefits and these experiences create the building blocks for success. What mistakes have you learned from? Which mistakes have led you to more opportunities? Pleas share your comments with us.

 

Blog

Turn What You Love Into Income

Turn What You Love Into Income

Have you ever thought to yourself, “If I could only get paid to do what I love?”

Maybe you can. In fact, that’s how many entrepreneurs get started. But you don’t have to be an entrepreneur to want to make some extra spending money. The bonus is doing something that you love!

Here are some steps to help you get started:

  1. If you have more than one idea, start by imagining them and pick the idea that brings the biggest smile to your face.
  2. Next, do some research:
    • Is there an obvious way to make income with what you love?
    • Talk to other people with the same interest and see if there’s a void that needs to be filled.
    • Take a look at what’s in the market now and ask yourself if you could that and/or do it better.
    • Talk to a diverse group of people about your income producing idea and ask if any of them would purchase something like that from you.
    • Ask yourself what’s the least expensive way to start that will still provide greater value to potential customers.
  3. Write down your goal or your mission statement. Include your specialty or uniqueness that only you can bring to this product/service. But keep it simple. For example – I will work part time and would like to generate $300. My uniqueness is to provide personalize service and offer customers buying my scented candles a chance to join my weekly Yoga club at my house.
  4. Consider your first 30 days a trial and error period, and be sure to fully commit yourself to doing whatever it takes to be successful. During this period assess how, where, why, who, what, when you can improve, and make sure you can earn a reasonable profit for your efforts.
  5. You may also want to create a simple business plan (optional for now). Include your goals, operational expenses, who your customers are, marketing strategy, and an overview of competitors.
  6. Nurture testimonials and word of mouth to attract new customers and grow.
  7. Keep asking your customers for their feedback and continue to improve and learn.

The key is to keep it simple. You want to share your passion, avoid wasting money, and earn some extra spending money. In the end, you want to still love what you do while you gain some financial benefits. You may be surprise to find yourself a budding entrepreneur, or you may simply want to keep a good thing going.

Do you love what you do? How did you get started with your business? Would love to read your thoughts in the comments below!

Blog / Teleseminar

DSEF & Money Wise Women

DSEF & Money Wise Women

Today’s highlighted post from Money Wi$e Women Get Smart Teleseminar Series:

How to Escape the Money Life Drain

Do you have any money tips to share? Which teleseminar tip was the most useful? We would love to hear your thoughts.

DSEF proudly sponsors the free Money Wi$e Women Get Smart Teleseminar Series hosted by Marcia Brixey, Founder and President of Money Wise Women Educational Services and author ofThe Money Therapist: A Woman’s Guide to Creating a Healthy Financial Life. The series covers topics related to business and finances and provides women the opportunity to learn from professional experts in a safe, comfortable environment.

To find out about upcoming teleseminars, visit http://www.moneywisewomengetsmart.com/