Life insurance is something we often take out to protect our family and our loved ones, but that’s only one example of how life insurance can save us in unhappy circumstances. So you decide to start a new business. All the plans are in place. The concept of the business is good. Your product is in place. But there is something missing. Well, actually, the main aspect of the business is missing and that is, the money. Money seems to be hard to find by. And this is because your previous record shows that you are not competent enough with money matters. Your repayment history is bad. When you go to the bank asking for loan, your records scare the branch manager. Thus, to say it short and sweet, you simply don’t have the financial backing for your business. What extra costs are involved? Delivering goods or services to a new area often comes with extra expenses. Consider the extra shipping costs along with whatever fees and labor may be required to facilitate your expansion. Don’t forget about the additional international marketing efforts you’ll need to put forth to attract new customers. Make sure all those expenses fit within your budget before getting started. If you’re not able to take on the expense, wait to expand or look for a market that comes with fewer expenses.
A key point to remember is that during a recession, peoples spending habits shift and you need to understand how that shift will affect your product or service in order to survive. In general, most people tend to take more time searching for goods and may even negotiate more at the sales point. They will also be more willing to postpone purchases, trade down or just buy less. Credit cards are not free money. You still have to pay for the items you buy (and sometimes they end up costing more). Risk – Risk must be usually high in an entrepreneurial venture. If not, with the enticement of sure profits, many entrepreneurs would be trailing the idea and the opportunity would no longer exist. You will be waiting a few days for paypal to deposit a small amount into your account so they can verify you own the account.
Waiting for ‘delivery’ will not liberate us from our life sentence. Sometimes ‘delivery’ does not come. When ‘delivery’ does come it often makes things worse by forcing us into government shacks that are worse than the shacks that we have built ourselves and which are in human dumping grounds far outside of the cities.’Delivery’ can be a way of formalising our exclusion from society. That’s right, don’t pay them. Don’t file for bankruptcy and for goodness sake don’t sign up with a consumer credit counseling company. All these people will do is take what little money you have left and leave you penniless, with bad credit and in a worse position than if you had never contacted them. These three fundamental concepts are the keys needed to open the doors to true business. The concept of purpose focuses on the “why” of the entrepreneur. The second concept of service will help the entrepreneur understand that service will take the organization to world-class statues. The last concept of influence encourages the entrepreneur to use his or her resources to communicate the gospel of the kingdom to a dying world.
Effective Networking – With the growth of the Internet, the term “networking” has seen increasing use. However, networking is so talked about because it is so important. Forming professional networks with complementary businesses or entrepreneurs will have tremendous ramifications for your company. “It’s all about whom you know,” is more than true. If you know the right companies, the right business owners, then your company will benefit from referrals and other aspects of networking. Starbucks has been receiving an upheaval owing to its low volume of taxes not only in the United Kingdom alone but also in other markets. The company paid 4.5 million euros in taxes despite making profits to the tune of 162 million euros in the year 2018. This was a 2.8 percent tax, while the British government requires corporations to pay 19 percent of charges of the total profits. Starbuck’s complex business model makes the correct calculation of taxes hard because it runs a business in subsidiaries.