Uses of Business Cards

It is factual that that the advent of technology has driven us to the automatic use of digital machinery. From emailing to signing contracts and even just attending meetings or networking in business, we have demystified the value of communication outside these gadgets. Even so, a business card is one of the most vital aspects that shall not be easily replaced. In fact, it is evident that we shall clearly not replace it any time soon. Why, you may ask? Here are a few answers to that question.

Swapping Contact Information

Networking is not a personal affair. Therefore, for you to make strong entrepreneurial networks, consider making genuine business connections as sending your contact information via email or text is impersonal. Moreover, engaging in eye contact as well as actual conversation fosters the beginning of a real relationship.

Effective in Direct Marketing

Without a doubt, email marketing, video marketing and search engine optimization perform a great task in attracting leads as well as prospective clients. However, they are not as effective because they do not provide a personal touch to the business deal. With business cards, a meeting and hand shake are involved.

Creating the First Impression

When you meet an individual who can probably make a great customer prospect or connection, you clearly want the person to have a good impression of your brand. Therefore, a memorable card comes in handy at such moments. With that said, it is also true that the card will be more instrumental than an email or phone number.

A Road Map to Viable Opportunities

A business card is your roadmap to viable opportunities. With that said, a business card can lead you to a new job or a perfect business partnership. Even better, a business card can help your emerging business make money. Perhaps you can think of it like getting your networking dockets on while looking to benefit your business at the same time.

Promoting a Professional Look

A business card looks extremely professional compared to your writing. Actually, a business card shows that you took your time to come up with a tailored card that explains the type of services you provide. Moreover, think of an official event where people have business cards and while at it, they are exchanging their cards. You will definitely feel the need to be part of the interactive session and create a few entrepreneurial networks.

The Outline

Even though the internet has provided faster and convenient communication channels for business professionals, without a doubt, they still need a business card to perfect the art of one-on-one communication. Moreover, a business card provides you with the chance to get to know your ideal partner by having face-time interactions. As such, it is clearly vital to own a business card. So, as you go about your businesses and wondering if a business card is a necessity, consider the highlighted points above as your major reference point.

 

How To Manage A Company

The first thing that you should know is that you don’t have to be a fortune 500 company for using these tips. There are a lot of small businesses that could flourish if they were to just make use of these tips.

Having The Know-How is Not Going to be Enough

Even though you may be an expert within the field your working in, but that does not mean that you are going to have everything that it takes for you to become the owner of a business. The time that you hang out the open sign you are going to realize that customers are not just going automatically start circling your doors even if you know what you are doing. You are going to find out really quickly that you will be needing marketing along with administration in order to start up your company.

You may have run into or heard of many chefs and others who have started a restaurant just because they love to cook and be around food, only to have to close up business a couple of months or some odd amount of years later. You must realize that making great food is not going to be enough for you to manage a company. People are going to have to know about the food in order to experience it. On top of all of this, you are going to have to make sure that you are running your business really tight financially, and that means that you are going to need tax and financial experts backing you. Also, you will be in need of a general manager that has a lot of experience.

Finding The Right Employees

For those of you that are great in your own field, but are finding yourself lacking in marketing knowledge and expertise, you are going to have to hire people that are fit for that job. Of course, that means that pretty soon people are going to be knocking at your door because their friends referred them.

Never Hire A Friend

Even though this one may seem as though it is an obvious statement to some people, it is a mistake that you will see everyone make in business. Not only will you find that this often leads to friendships being ruined, but it can ruin your business as well. How much of your personal situations do your friends know about? A friend who gets fired could easily turn into the main enemy of your business and ultimately cause the destruction of your business.

Planning is Everything – Don’t Go with The Flow

It is important to make sure that you are planning for everything, such as needing insurance, taxes, property taxes, overhead costs, and so much more. It is much easier if you plan ahead for these types of things, rather than just saying that you have the expertise in your field and some money, so you can do anything! Let’s just get one thing straight, you are not going to be able to do this on your own. You are going to have to hire people, and you are going to have to plan a lot. Even though managing a company may seem complicated, it doesn’t have to be. If you follow these steps, your business has a huge chance of succeeding.

For another interesting in-depth article on the difficulties that come with managing large companies, check out the interview of Peter Lowy on a High.

Which is the best option: Private lending or Real estate crowdfunding

You need to have a properly researched plan for raising capital for your real estate project to make it a success. When it comes to financing your real estate project, you can either go for. Private lending or Crowdfunding. So, this article will explain which way should you go for:

Private lending:

In the case of private lending, you take the loan from a high-net-worth private party to raise capital for your real estate project. They charge a very high rate of interest in comparison to banks. Also, the amount of loan you can raise and the interest on the loan also depends on your credibility on the market. Private lenders usually have some staff to help you during the project.

Real estate crowdfunding:

This is the entirely a new concept of lending money for a real estate project wherein multiple investors contribute money for a single loan and share the profits in the ratio of the amount contributed by each one of them.

In this case, crowdfunding companies invite multiple investors to lend money together to a single project. So, if you need the money for your project, you can go to a crowdfunding company and submit the details of their project with them. Once the project is approved by the company, they list it on their website inviting funding so that whosoever is interested in investing in the project can pool in the money with other investors. The money is raised in just a matter of days under crowdfunding.

Some of the crowdfunding companies offer loan at specified rate of interest for all the projects whereas some of them charge a different rate of interest depending upon the risk involved.

Which one to choose:

In most of the cases, it is witnessed that the default rate of interest on the finances raised through crowdfunding is higher than the direct lenders. The rates of interest in the case of crowdfunding are generally higher due to lack of support in times of trouble. When there is any problem faced by you after closing the deal in crowdfunding model, there is no way to work things up with the investors. But, you can contact the private lender any time you want in case of any issue.

Throughout the project, you might have hundreds of questions regarding appraisals, legal issues, etc. that need to be answered. In this case, private lenders are just a phone call away to answer all your queries and provide all their support for successful completion of the project. Even though crowdfunding will help you raise money quickly and simply, but you cannot expect such support from them in future.

In case you need more money for your project, then you can easily reach out to the private lender and make him understand your situation in comparison to the crowdfunding investor.

Private lending is a much better option of funding than crowdfunding. You can build a long-term relationship with a private lender whereas, in the case of crowdfunding, the investor does not even know whom they are investing for.

Getting loan to finance real estate projects

Capital is utmost part of any business. No business can survive without sufficient capital. Even, for a successful real estate business, you need to have sufficient funds so that you can invest in the best deals. Real estate business is very risky, one need to have a detailed plan for the finances to get the business funded.

If you want to raise sufficient finances for your real estate business, then it is very important that first, you invest sufficient capital yourself. Your liquid assets should become part of the capital for your real estate business.

After your own investment, you can start looking for capital from outside. Firstly, make a project for your real estate business. This will help you to know about the specific requirements of your project. Now, you will have an idea of how much capital is needed and the estimated profit you will make with this project. Now, you can discuss your project with the outsiders to raise capital for your project.

Here are the few options by which you can get loans for your real estate project:

 

  • Loans from private investors:

You can take loans from private investors by paying them interest. They will finance your project only if they are satisfied that their money will be returned back in time. The amount of loan that you can raise depends on your relationship with the private lender and your credibility in the market.

So, make sure you always make timely payment of interest and principal amount to maintain your goodwill in the market.

They usually charge a very high rate of interest in comparison to other financial institutions.

  • Personal Loans:

You can also take a personal loan to raise capital for your real estate project at a specified rate of interest from the bank. Also, you can take a loan from the bank at a variable interest rate, from rates ranging from 12 to 22 percent.

  • Mortgage loans:

In the case of a mortgage loan, you need to mortgage the property against the loan. You need to have real property to avail this loan. So, in this case, the interest rates will be slightly less but, if you are not able to timely repay the loan, your property will be taken over and auctioned by the bank to recover the money.

  • Credit cards:

If you are having a credit card with a very high credit limit, then you can use that to fund your real estate project. For this purpose, you should make a good credit history by paying your credit card bills always on time.

For making your real estate project success, you need to do good research and planning before raising the capital for the same.