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• Top 10 Strategies to Revive Failing Businesses

 

The best part of every busing is being able to win the trust of new customers, knowing your business is solving the problems of the mass community in every Conner of the globe. But watching your business going down the drain and not knowing the cause or what exactly to do to revive a business can be so heart breaking.  Worst is that many entrepreneurs don’t notice their business is taking a recessive twist until it finally clashes.

All businesses have one or two warning signs to signal that there are failing before it finally clashed. Some of these signs include; reduce sales, losing loyal customers, no new customers, not being able to pay employees and bills.

If you are an entrepreneur and notice any of these signs, it’s safer to take action immediately. You can still revive a business before it reaches the point of no return. Below are 10 concrete strategies to revive failing businesses, this include changing business model, finding the problems, changing marketing strategies, you can take to revive a business before it runs into catastrophe.

 

1.     Business Revival Strategies: Find the Problem

This is the first essential thing to do. Try to find where there are lapses, what is causing them and only then can you be sure to tackle the problem squarely.

Look at it this way. You are in a boat on the high sea and suddenly, water start to enter the boat. The first thing to do to ensure your safety is not maybe to stops the engine. The first thing is to try and figure out what is causing the water to enter. Stopping the engine may only add more fuel to an already worst situation.

A thriving business can fail for plenty of reasons. Example; business not changing proportionately with the market, competitors may be taking your customers, a more better product may have been introduce, your sales team lack skills and experience. 

Things you can do to identify the problem; try going back to when sales and profit were at their best. Then ask questions like;

• What changes after such period?
• Are there any new competitors?
• How are my customers’ relations since then?
• Did I fail to update my product offerings?
• What about advertising, did I improve?
• What is the prevailing economic situation?

Often times, it’s better to hire an expert to be able to objectively find the problem. If you can narrow the reasons businesses fail to a few or just one, you’ll be able to focus your business revival strategies or efforts.

 

2.    Business Revival Strategies: Revive Your Marketing

Following recent statistics, it has been proven that 8 out of every 10 (80%) businesses that failed were due to poor marketing strategies.

At this point, let your customers speak to you. Go back to them and ask them what they want, how they want it and whether you can supply it. While is a worthy exercise to every business, to an entrepreneur in trouble waters, it’s a necessary move before thinking of investing significant efforts in an attempted business revival strategies. If you’re an online business, ask your customers for their reviews or comments on the product or send them emails seeking their reviews.

You may discover that your customers are still loyal to your product but you aren’t making it available to them in a way they can purchase. For example, if you advertise exclusively on a local radio and your customers are now getting their news mostly online, they will not get your ads. Retargeting your pricing, advertising channels and other aspects of marketing strategies that have gone astray can revive a business in a hurry.

One of the best and least expensive ways of reviving a business’ marketing is through direct e-mails and the price of renting a new list, you can conquer new markets.

Other marketing strategies that can cost-effectively reach new or existing customers include developing relationships through social media such as Twitter and Facebook, leveraging search engine marketing strategies and geographically targeted offers with the likes of discount websites. You can get up valuable insights into how you may be able to market more effectively by using free online business resources.

 

3.     Business Revival Strategies: Know Your Customers Better

This may just be your missing lead. No knowing your customers is a fatal error a business can make. You can’t be supplying shoe size 44 to your customers whose shoe sizes ranges between 40 and 43. Unless you’re really clued in to your niche, know what makes your customers tick, and understand their problems; you’ll do a terrible job trying to present an appropriate solution.

It’s best if you carry out a little market research, talk to your target audiences. Talk to actual customers. Use surveys, ask questions on social media and solve the riddle of how to connect with each type of customer you’ve got.

 

4.     Business Revival Strategies: Rejuvenate Offering

By carefully and objectively evaluating your customers’ needs and desires can help you find ways you can change your product or services to meet those needs. For example, in the process of studying why your auto spare parts business is struggling, you may realize that the best thing to do is to include a mechanical repair workshop.

Understanding the reasons businesses fail or why your business isn’t working is essential but that alone won’t always provide a way to make it work. Therefore, when you find yourself in that situation, seek expert advice. It may be best to talk to other entrepreneurs in the same or similar business that seems to be succeeding. Find out what they are doing differently that is making them to be thriving. It may be something as relatively minor as changing the packaging or change in the flavouring in the case of canned food.

There is also a possibility that your product hasn’t changed but your customers have. For instance, if you are operating a restaurant serving European dishes in a locality and that neighbourhood becomes dominated by Americans or Asians. Your classic European dishes won’t entice them.  If such is the case, changing your offering to reflect the needs and desires of your new demographic could not only revive sales but raise them higher than ever.

On the other hand, customers themselves can stay the same but due to technological or other changes their needs shift dramatically. Such scenario occurred recently in the laptop computer market where with the introduction of Apple’s iPad, tablet computer in 2010 the once hot sellers, laptops suddenly fell out of consumers attention, forcing manufacturers, software developers, retailers, and others to reassess their products and strategies.

 

5.     Business Revival Strategies: Re-pricing

Sometimes, the problem may just be around the price, either being higher or lower than you can make ends meet. It’s important you take out time, study your prices in relation to other market conditions like the purchasing power of your customers, your cost of production and implement the best for your products.  

Pricing products tends to be easier than pricing services. This is because with your products, you know what it cost you to buy the raw materials or make those products, so prices can be determined readily easy based on desired profit margin. But this is not as straight forward with services, even with business services. You’ve to factor in things like Internet service, salary, electricity bills and other office expenses.

If your price is low, don’t double it overnight. Instead, try raising prices for new clients only and observe what the market will bear. If you’re getting negative response, the stake may be high that you might have raised them too much. But if you’re closing sales too easily, you might have the possibility to raise those rates even more.

 

6.     Business Revival Strategies: Changing Business Model

While changing business model may sound like a simple idea, it’s the most challenging technique you can try to save your business. To an entrepreneur struggling to set-off bills, pay the rent, changing their business model can be a difficult, if not impossible task. Still, it can be done.

A good example of a business that has been force to change model is the telephone solicitors. In the past, calls to consumers’ homes offered an inexpensive way to market a variety of goods and services. But the wide availability of answering machines enabled consumers to select calls, rejecting those that appeared to come from telemarketers. Furthermore, new regulations further tightly limited the acceptable hours and purposes for such calls, and the increasing presence of caller ID sealed the deal. Now call centers that used to serve telephone marketers are devoted to technical support, customer service, and similar functions.

 

7.     Business Revival Strategies: Alternative Financing

With the global economic facing a downward recessive nature, most big financial institutions won’t give you a loan. When conventional lending sources like banks aren’t willing to help you come up with the money you need to keep your business running, alternative financial institutions may. Crowdfunding for example allows you to raise funds for small business from online businesses and instead of repaying your donor; you offer them gifts (why this system is also known as reward crowdfunding). This method of fund raising is now very popular among small business. 

Peer-to-peer (P2P) Online Business lending is another good option. Here, people go online to lend and borrow money directly to each other. You get easy business loans compared to traditional banks once you fulfilled all the requirements. The advantage here is that you get easy business loans on the other hand; their interest rates are one of the highest in the industry.

Finally, bankruptcy has proven a last-ditch answer for many businesses struggling with intractable financial issues. But you can still get your finances back in order and take necessary measures to become profitable again.

 

8.     Business Revival Strategies: Reduce Costs

Though this may not be a lovable action to most business owners, but sometimes it’s necessary. You may be able to reduce or cut your costs enough to keep going by shutting down some locations or branches, or even the entire business temporarily. If labor costs proof to be the major portion of your expenses, you may be able to use temporary, contract, or outsourced employees to replace higher-cost, permanent workers.

 

9.     Business Revival Strategies: Handling Growth

You started small and didn’t expect to burgeon overnight. Just ask any business that’s ever been the recipient of the “Groupon Effect” or Oprah Effect” and then had a flood of sales the next day. Rapid growth isn’t always a blessing. If you’re not prepared for the strain your servers will experience, the flood of customer service calls or the number of sales to process, you risk seriously harming your brand’s reputation.

Rapid scaling should be a good thing, but you need a plan to quickly hire more staff and train them, as well as how you’ll manage more website traffic, phone calls, and customer service requests.

 

10.     Business Revival Strategies: Recognize Reality

In the real world not every business survives. If you are unable to pay employees, have an essential line of credit cut off, or get dropped by critical suppliers, the decision may be made for you. At times the best you can do is realize that there is no hope and shut down the business while you can still do so in an orderly fashion.

 

Restating can be easily said than done but if you try all the strategies listed here and you are still face with the hard reality of survival, there may be nothing you can do about it. Accept the hard truth and close it systematically.

Hopefully, your small business will be wildly successful and you will never have to face the prospect or the complications of winding it down. But, if you do find yourself faced with the hard realities of failure, it’s always helpful to know that you are not the first nor second, neither shall you be the last.

Having a failed business is not the end of the world neither is it the end of your business ventures. Many successful entrepreneurs you meet today may have a one in a life time fail business. Your ability to learn from failure would likely end up in a better place than you were when you started the business that failed.

• Financial Distress Is Driving Two Trends In Real Estate

Increasing financial distress out there is driving these two real estate trends in 2023. 

Consumers are under a record amount of financial pressure from all angles right now. Even the world’s largest corporations and financial institutions that haven’t been focused on sustainable growth are feeling the pinch. 

So, what outcome is that having in real estate? How can investors position themselves to help, and to be well compensated for participating in these trends?

• Distressed Assets & Discounts On Real Estate

Consumers have accumulated record amounts of debt. According to recent data, that seems to be hitting a wall with defaults on debt like auto loans up. Inflation just keeps on piling on the pressure. Along with dramatic drops in retirement account balances due to volatility in the stock market, and the collapse of crypto. Then there are massive layoffs and hiring freezes. 

So far this hasn’t resulted in a huge foreclosure tsunami. Though the pressure is there.

This causes immense stress on relationships. Money and finances are one of, if not the top reasons couples end up failing, just like businesses. And we are also seeing that. 

So, companies are being fragmented, and we often see spikes in separations and divorce rates during phases of the economy such as this one. 

While property owners and their agents are still getting their minds around the new direction of the market, and what they can really sell for, many are eager to take deep discounts for swift sales and cash. Even Bill Gates recently listed his daughter’s apartment for a quarter of a million dollars less than he paid for it.

In reality, the physical value of these properties has not changed. It is how desperate and motivated sellers are, and the overburdened financial situation that is resulting in them selling for less. Expect this to increase throughout the year. 

• Rising Rental Demand

In fact, continuing from the above, many of these properties may be more valuable based on their performance. Both increasing occupancy rates and rental rates provide some areas that are and will suffer bleeding out of human capital as big companies close and consolidate offices, or spend billions on new manufacturing facilities in other states, it is also creating a rush of movers. Many of whom will need to rent. 

The division of households due to all of this financial pressure can also mean a doubling of rental needs. When couples split, the previous home is often sold or lost, and each needs new housing. Few are able to buy, so they both need to rent. This creates even more demand for rentals, in turn supporting recent increases in rental rates. 

While it is always tragic to see people lose jobs and businesses fail, these two trends do offer investors great opportunities to help meet these needs and be compensated well for them. 

Investment Opportunities

Find out more about investing in secured debt and real estate, go to NNG Capital Fund.

Image by Albrecht Fietz from Pixabay

Article Source: https://nngcapitalfund.com/financial-distress-is-driving-two-trends-in-real-estate/

• Are You Ready To Become A Success Story with CEO Coaching

As the CEO of your firm, it is your responsibility to steer it towards success, encourage expansion, and make decisions that will advance it. However, it may be challenging to manage the constantly shifting business scene on your own when you have so much responsibility on your shoulders. Coaching for CEOs can help with that.

Professional CEO coaching is a form of professional development that aids CEOs in advancing their managerial skills, strengthening their capacity for judgement, and realising their corporate objectives. Any CEO who wishes to advance their leadership abilities may benefit from CEO coaching; it is not just for CEOs who are having difficulty leading their organizations.

A CEO mastermind is one efficient technique to engage in CEO mentoring. A CEO mastermind is a gathering of CEOs with similar goals who exchange experiences, give counsel, and work together to solve problems. CEOs get the chance to learn from one another, receive insightful information, and forge connections with other CEOs in a CEO brainstorm.

Working with an advisor group ceo is an additional option for CEO coaching. A professional coach who focuses on working with CEOs is known as an adviser group CEO. To assist CEOs in overcoming certain obstacles, enhancing their leadership capabilities, and achieving their corporate objectives, an adviser group CEO can offer individualised coaching. CEOs may develop as leaders by getting a new viewpoint, challenging presumptions, and receiving helpful criticism from adviser group CEOs.

CEOs could also consider participating in a CEO network. A CEO roundtable is a gathering of CEOs who exchange thoughts and work together to address shared difficulties. An excellent method to network with other CEOs, get knowledge from their experiences, and gain insightful information that can help you advance your business is to attend a CEO roundtable.

It is time to decide whether you are prepared to become a success story now that you are aware of the advantages of CEO coaching. Indications that you could be ready for CEO coaching include the following:

You are up against a fresh obstacle: Throughout your tenure as a CEO, you will encounter fresh difficulties. These difficulties might be daunting and challenging to overcome on your own. A new issue, such a merger or acquisition, market expansion, or a crisis, can assist you negotiate these obstacles with confidence. CEO development programs can help.

You are having trouble reaching your objectives: It is time to revaluate your approach if you are having trouble reaching your company objectives. You may design a new plan, take action to accomplish your goals, and uncover the barriers holding you back with the aid of CEO coaching.

You wish to develop your leadership abilities: A CEO must be an effective leader. You may lead your team with confidence by developing your leadership abilities, including delegation, decision-making, and communication.

You are looking to connect with other CEOs: Being the CEO of your company may be isolating. CEO coaching offers the chance to network with other CEOs, gain knowledge from their experiences, and develop connections that can advance your company.

You wish to grow your company to a new level: CEO coaching can assist you in reaching your objectives if you are prepared to advance your company. You may create a plan, find new possibilities, and take action to promote development with the aid of a CEO coach.

 

It is time to think about CEO training if you identify with any of these symptoms. CEO training may assist you in overcoming obstacles, achieving your objectives, and succeeding as a CEO. CEO coaching is an investment in both you and your company, whether you want to take part in a CEO roundtable, work with an advisor group CEO, or attend a CEO mastermind.

Finally, CEO coaching may be a potent tool for any CEO who wants to strengthen their leadership abilities, get over obstacles, and accomplish their corporate objectives.

• Reasons Why You Should Outsource Bookkeeping Services

As time passes by, business owners begin to realize that it is essential to keeping current and accurate financial records. Records of financials are an essential role in the daily life of any business. They will tell you whether your company is strong or weak. It is crucial for making a decision.

Although important financial records may be typically on the bottom of owners' priority list. Bookkeeping can be a time-consuming job and requires focus and concentration on detail. This is the reason company owners usually Outsource bookkeepers for the task.

Since hiring training, educating, and developing bookkeepers in-house are expensive, many business owners are looking at Outsourced Bookkeeping Services instead of an in-house team. There are some benefits to outsourcing bookkeepers, particularly for small-sized business owners.


1. EXPERTS AT LESSER Costs

If you choose to use an Outsourced Bookkeeping Services company, you can be assured that the staff who work for you are professionals in the field. You'll be working with professionals with experience whose primary aim is to ensure all your records of financial transactions are organized and current. When you are ready to pay those taxes, you'll have tax returns prepared and, in addition, you are able to ask for their expert guidance.

Many believe outsourcing is more expensive. However, the truth is that outsourcing isn't. The greatest benefit of outsourcing is that you do not have to recruit to train, educate, or develop your bookkeeping staff. It's not even necessary to keep their offices clean and it will save you lots of money and takes an easy way to reduce your payments.

2. SCALABILITY

If your business grows the bookkeeping or accountant might not be able to handle the number of transactions that you'll need regardless of whether you pay him as much. You'll have to hire additional people to accomplish the task.

Third-party bookkeeping service in contrast can grow with your needs. Because you've got an accounting team to be tapped as an outsourcing company can simply assign specialists to meet your company's needs. In addition, since they're offering the opportunity to expand by utilizing the money you'd be paying for an all-time bookkeeper for the other expenses of your business.

3. SET YOUR VISION

Because you have an expert team managing your finances, you'll be able to concentrate your attention and energy on the main areas for your enterprise. Most business owners aren't experienced in accounting or finance. The process of bookkeeping can be lengthy and time-consuming, particularly if you don't have the expertise.

Outsourced bookkeeping services will allow you to concentrate your time and resources on making your products and services better. They take away the pressure of managing the most demanding tasks and allow you to have more time to spend with your family.

4. Access to more powerful tools

To be more efficient with accounting, it's recommended to download software and applications that will aid you with your management. However, these tools could cost a lot and in the end, they could add to the fixed cost of your bookkeeping as they typically require subscriptions. Additionally, you might require multiple of these programs.

If you use an Outsourced bookkeeping service, you will find that the most effective tools are included in the package. Therefore, you'll obtain them for no cost.

Overall, outsourcing bookkeeping services can be a great benefit particularly for small-scale business owners looking to lower costs while they keep growing and running their business. It's an easy way to ensure that business owners are in control of their financial flow as well as the financial health overall of their company

• The Interesting History Of DC Comic Books

You must have heard a lot of people talking about their mint conditioned Batman comic book collection or their DC comic action figures and wondering what compelled them to have one such hobby? The answer to this lies in the interesting history of DC comic books which begins from 1930s and 1940s. The world passing through the Great Depression along with the wrath of the 2 World Wars. People were looking for something more than just political satires and cartoons, they needed someone who could give them hope like a hero. It was during this period, DC Comics started coming around. Initially, it witnessed very little success as no one wanted to invest in a comic books store with some lesser known artists and characters. But the introduction of “Superman” in year 1938 and some “Action Figures” launch a little later paved way for a completely new era of graphic novels. People were too mesmerized by the aura and superpowers of Superheroes.

 

For the next two decades, more and more people kept getting fascinated by the new adventures of superheroes. It was somewhere in the mid 50s when Silver Age comics was introduced. It focused on revamping old characters which were way more human but fought their way across different universes and battles royal. America’s Justice League brought forward a lieu of new characters including the Flash, Aquaman, Green Lantern, Batman, and Wonder Woman. It was the same era that inspired the present day legend Stan Lee to bring-up more such characters under the brand name of Marvel comics. We saw the emergence of Fantastic Four Series and several other new superheroes during that time.

 

Then came the “Dark Age” which saw darker and more off-beat themes that focused on vices like drug abuse, anti-hero characters, and inner conflicts. These categories not only targeted the kids but they were now attracting a very serious thinking part of society. The 1980s then witnessed the modern age of comic books which is continuing even today. The foundation of Modern Age was kept on Bronze age however it dwelled with several new characters that came forth under the shadow of DC Comics. It now included a completely new race of heroes that included X-Men, Dark Knight Series, and their wars against the humans and with humans. There were a few others that spoke of apocalypse and end of the world.

 

DC Comics survived through all these changes and new modification because its writers have a tendency to adapt to new outlooks and include them in their stories. The kept upgrading their costumes, graphics which kept their heroes updated with the present world changes and kept the concept of hope alive in them.

• Is brainstorming effective in creating business solutions and ideas?

Brainstorming integrates a flexible, informal approach to solve problems with lateral thinking. It helps people come up with ideas and thoughts that can, initially, seem unrealistic. Some of these thoughts can be incorporated into authentic, creative solutions to an issue; meanwhile others can give room for creation of more ideas. This is very useful for setting individuals free by shifting their paradigms. Thus, during a brainstorming activity, all ideas should be appreciated. Brainstorming ideas are intended to open up possibilities about the limits of a problem. Analysis and Judgment at this level hinders idea generation and limit brainstorming activity.

At the end of the session the brainstorming ideas are analyzed to further explore solutions while using conventional strategies.

Why Use Brainstorming ideas?

Using orthodox group problem solving can usually be undermined by irrelevant group behavior. While it's essential to begin with a structured analystical process when solving issues, this can cause a group to develop stagnant and unimaginative ideas.

On the other hand, brainstorming techniques offer an open and free arena that encourages everyone to take part. Quirky ideas are entertained and built upon, and all participants are encouraged to take part fully, assisting them build a rich array of innovative solutions.

Brainstorming creativity when used during problem solving brings the diverse experience of team members into play. It augments the richness of explored ideas, which implies that you can usually find adequate solutions to the challenges that you face. Also, it can also help you get credit from team members for the chosen solution– nonetheless; they're prone to be more engaged to a strategy if they were involved in the development process. Furthermore, because the brainstorming activity is fun, it helps foster bonds between team members, as they solve issues in a positive, rewarding arena.

While brainstorming techniques can be effective, it's important to handle it with a spirit of non-judgment and an open mind. If you fail to do this, individuals fail to contribute, the quality and number of ideas drop, and can affect an individual’s morale.

The Importance of Creative Brainstorming

If you are considering marketing a business, fresh ideas, innovation and creativity are good tools which can assist you make good success in your endeavors.However, getting fresh ideas can be a daunting exercise and usually, creativity is not so easily maneuvered. When trying to establish effective ads or slogans or marketing campaigns, brainstormingactivity could be the key to help you generate a whole repertoire of relevant business ideas.

In any company, the essence of creative brainstorming usually takes the foremost position before you embark on taking a new client, major project or solve an important external or internal challenge. Irrespective of the situation, creativity techniques can be utilized to any company’s advantage. When you rally your team to work, collaborate together and creatively solve problems, there are many good things that result;

• Creative team brainstorming enhances your problem solving and critical thinking abilities as an individual and a team. It also encourages cooperation on more than just major projects. Members of the team usually feel more open to throwing ideas off one another and sourcing advice on individual projects when creative team brainstorming is an essential element of the work process. Furthermore, creative brainstorming works to include different points of views and enhances the team’s capacity to think outside the box.
• Entertain exaggerated and wild thinking. Encouraging wild ideas works! If you begin constrained, it makes it difficult to develop thinking. Nonetheless, it’s always very direct to divert thinking from an idea that is overly ambitious. Trying to obliterate wild ideas before they start developing roots neglects two important points. For us to eliminate, we have to judge and judgment leads to the death of growing ideas. It is often better to let it out and then later on decide not to develop it rather than just shunning the very idea that might have led to a cure for AIDS, for instance. Some of the most brilliant ideas that have ever surfaced on this planet, began as wild ideas – everybody thought Einstein was insane until other people demonstrated in a conclusive manner that he was a genius. Additionally, prohibiting wild ideas miscomprehends the nature of ideas. When using idea generation techniques (while holding judgment) by definition, there will be bad ideas and good ideas. The difference can only be known once we have subjected an idea through the critical reasoning process– a completely different form of thinking compared to that required for idea generation. It’s analogous to instructing Cristiano Ronaldo to never miss a goal – you need to lose some to win some.Think about this, a bad idea is a good idea that’s out of place!
• In most businesses, when you designate a single individual to generate all ideas, there is a tendency for those ideas to become monotonous and stale. However, during a brainstorming session, you can collect more brilliant and more viable ideas from a number of individuals. As the team brainstorms together, ideas may evolve into something that is fresh and effective. Since team members may have unique interests, background and motivation, they can help come up with ideas that no single individual will generate on their own.
• Never criticize other people’s ideas while they are still being generated. More so, proposing otherwise shows a lack of understanding of true intent of Osborn. Criticism demandsjudgment and judgment is condemning the continued generation of ideas. Furthermore, the key is to spend just a short period brainstorming ideas and then bring in criticism by all means but make sure to separate the two events.
• Every individual and every idea has equal value-The concept that everybody might not contribute is insulting and misguided. Osborn never contested that every idea is of equal value. While using idea generation techniques, there is no way of measuring merit since, once more, this necessitates judgment. Every individual can nevertheless have ideas in a brainstorming session. The concept of limiting participants to only the most intelligent ones is the short path to insanity. The most brilliant ones tend to know only about the current ideal and/or if it’s not fruitful and this cannot be changed no matter how much rational analysis. Having an individual in a brainstorming activity who lacks expert knowledge may slow lag the whole process and can be frustrating. Nonetheless, every once in a while, one of the weird questions they pose can turn out to be anything but only because they are not bordered by how things are supposed to be.
• Only one person talking at a time- this is not a good concept to adopt.This has never been a laid done rule for brainstorming. A key characteristic for brainstorming is that it should be free-for-all with a lot of people talking simultaneously, whereas plenty ideas are lost in the scrimmage as are remembered or collected on completion. In case a good idea gets lost in the melee, consider that there are loads more from where the idea came.
• False anchoring- There is no such thing as “early on” in a brainstorming session. There’s a short blast, often times a few minutes and obviously no more than 10 minutes, during which ideas are being generated – remember the brainstorming session has to be open and free-for-all. Later on, there is a period of assessing, sorting and selecting. It is very strange for one particular idea to gain more recognition than another during this process but this cannot be described as false anchoring sinceall ideas are under consideration. If an idea with merit is not being talked about frequently, there always will be someone who will push it to the fore to get adequate consideration. And if by chance it gets missed, who will say that the one chosen is not the best anyway?
• The concept of building on other individual’s ideas actually does add value – it’s all about when you do it. It is acceptable for one idea to spark (give birth to) another during the preliminary idea generating blast even though it doesn’t need to be discussed at this point. If you are going to make the most effective use of the available time, you should only build on other people’s ideas when we have selected the chunk of ideas that you have agreed to develop. This will help avoid wasting time on ideas that are irrelevant.
• For you to be creative, your brain can sometimes be your most dreaded enemy. This is so because thoughts of creativity can get mixed-up and jumbled in your head, hindering you from clearly thinking them out. Also, it is possible that you come up with an ambiguous idea only to end up in turmoil because you are unable to give a definite form or shape to the idea. Brainstorming techniques most often requires you to extract these mixed up ideas from your head and bring them out (either audibly or on a sheet of paper). When you discuss or see these ideas, you can give then a definite shape and increase the chances of finding an innovative idea.
• Agreement or aggression-finally, something we can agree on – it’s essential to get an external point of view in a brainstorming activity. The concept that a brainstorming activity should evade disagreement is also misguided. During that short blast of idea generation near the start of what can be called the ‘authentic’ brainstorming session, disaccord does not surface because judgment is on hold and disaccord is the product of critical reasoning. Once brainstorming ideas have been generated, it is recommended to welcome or encourage disagreement. Disagreement refines ideas.
• Voting on ideas-when it comes to selecting ideas, front-runners are often compelled to select themselves. When there is little or no passion for idea selection and somebody might be tempted to propose voting.Often, this is more likely to be the outcome of the fact that no one is particularly engaged to anything on the shortlist. It is by far better to take a step back, review one or two of the ideas or probably even start the process all over. When the idea generation facet is so brief, a shortlist can be generated in  a short time. Voting may be a tangible solution for democracies but is not applicable to generating brainstorming ideas. Voting gives rise to winners and losers. Losers often feel defeated and might be reluctant to contribute new ideas or even accept the ‘chosen ideas’.
• Create a fun environment-Serious professionals –it is of prime importance to understand that working in a fun environment is essential. Quit considering those who embrace this concept to be ‘unserious workers.’ There are uncountable benefits of working in a fun environment. Having fun keeps people relaxed, minimizes inhibition and increases the likelihood of having ideas and sharing them as well. More so, in most companies, individuals who have enjoyed generating ideas are much more likely to stick with them when the going gets tough and to execute them. So when it comes to fun, keep it coming!
• Foster Team spirit- The end of a brainstorming activity is usually characterized by barely-contained excitement, an eagerness to ride on and execute something, a sense of forecasting about what the group is about to do. Sometimes members get congratulated for a job well done. Nonetheless, the group-hugs should be an integral part of the brainstorming activity. This can help build the bonds between members of the team causing them to totally engage in implementing chosen ideas thereby fostering team spirit.

Conducting a brainstorming session

Brainstorming activities can be organized in many forms; either online or face to face meetings. The more diverse the group is the better.

Any brainstorming activity must have a defined theme for its members to work on. The idea generation technique needs to be guided by a leader who raises discussion points. Each discussion point should take place within a very short time. Limiting the time permits the members to think fast. During such meetings everything should be noted.

One of the most effective brainstorming techniques is to give an opportunity for each member to propose an idea or solution for each point raised. Individuals can also be requested to write down ideas.

Authentic brainstorming remains, without a doubt, the most powerful tool for generating business ideas and solutions.

 

 

• Look More Glamorous With These 6 Unique Saree Draping Styles

Saree is known as the eternally fashionable and elegant outfit of India. This 9 yard long outskirt has defined Indian womanhood for so long time. Saree is loved because of its simplicity, flowing nature and the grace it offers. Sarees can be found in various beautiful fabrics, designs and colours, this magnificent wonder is the most liked garment by women from all over the world.


 

From the last few years, the saree has evolved to match the changing lifestyle and preferences of its wearer. They market of western wear are increasing rapidly, saree still holds its ground firmly. Being the only garment that obfuscate body flaws and brings out the best in any woman, saree is equally esteemed by both wearers and designers. You can wear any type of sarees like Kanchipurm Sarees and Banarasi Silk Sarees etc with these methods.

 

Here are some saree draping styles that will help you to look glamorous, attractive and classy.

 

Traditional Nivi Style

 

This can likewise be known as the exemplary style of draping a saree. The style has the creases tucked in front and one end, the pallu is creased and stretched out finished the left shoulder. Distinctive pullover styles and adornments can be explored different avenues regarding this style.

 

Dhoti Style

This is totally a present day style of wearing the saree, the Dhoti style can be worn by wearing the saree as a dhoti and the pallu might be tied or creased. You can wear a sleeveless, high neck blouse or a little coat style pullover to pull off this one of a kind look.

 

Mermaid Style

This style is a very unique style in which you will get a perfect mermaid look. It has a close fitting hip portion with a flared hem at the bottom.

 

Bengali saree draping style

 

This is one of the simplest technique to drape a saree though the ultimate look might seem to be contrary! This style can be accomplished by joining two wide pleats and a large key ring with keys to hold down the double wrapped pallu. Handloom sarees or light cotton ones with attractive brocade can easily go with this draping style.

 

Lehenga saree draping style

 

When you wear a saree to look like a lehenga, this is called lehenga style saree draping. It can be done with the help of several pleats tucked around the waist to give the appearance of a lehenga.

 

Mumtaz Style

 

This style is inspired by the legendary Bollywood movie actress Mumtaz. The technique is the saree is being draped as a wraparound with the lower skirt being arrang in two layers. The pallu goes over the left shoulder and is short in length.

 

A saree can be draped in different fashionable styles. Some of them have originated as regional preferences and some of them are inspired by famous personalities. These six unique saree draping style will help you to experiment with your look.

• MBA universities in India

There are in excess of 5,000 MBA universities in India. Out of these around 3,000 MBA universities are private, almost 500 are government schools and the rest are private-public universities.

 

MBA Colleges in India Highlights

 

No. of MBA schools in India-Approximately 5,000 MBA universities in India

 

Expenses

 

-Yearly Fee < Rs 1 lakh: 30%

 

-Yearly Fee Rs 1-2 lakh: 33%

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Top Specializations-Finance, Sales and Marketing, HR, IT and Systems, Operations, International Business, Business Analytics

 

Confirmation Process

 

- Entrance Based

 

- Merit-Based

 

No. of MBA universities in India-20 IIMs

 

Expert of Business Administration or MBA is perhaps of the most pursued post-graduate program in India and abroad. This two-year program is a passage to various open positions in the corporate world. Understudies from various foundations, for example, Science, Commerce and Humanities pick MBA. A normal MBA is a two-year course which is spread across four semesters. There are a couple of private MBA establishments that offer one-year PGDM programs too.

 

The MBA universities in India give admissions to understudies in view of the scores got by them in different public or state-level assessments like CAT, XAT, MAT, CMAT, ATMA, SNAP, MAH CET, KMAT, and some more. There are numerous MBA universities in significant urban communities the nation over like Delhi-NCR, Mumbai, Bangalore, Pune, Kolkata, Hyderabad, and so on.

 

MBA Colleges in India Eligibility Criteria

 

The qualification standards for MBA courses might contrast starting with one school then onto the next. In any case, the fundamental MBA qualification rules is as per the following:

 

1.Candidates probably passed graduation in any discipline or comparable from a perceived college as a fundamental qualification rules for MBA (full-time).
A large portion of the foundations follow the base score models in graduation which is half total or comparable CGPA. For saved classification understudies, the base score is 45% total or identical CGPA.
Last year graduation applicants are likewise qualified to apply for MBA, gave they present the verification of fruition of graduation degree inside the span determined by the foundation.
Top MBA Colleges in India with NIRF Ranking

 

Associations, for example, NIRF rank the best MBA schools in India and different universities in light of different boundaries like educating, learning and assets, exploration and expert practices, graduation results, effort and inclusivity and discernment. Rating given by the understudies in view of five unique boundaries like positions, framework, workforce and course, educational program, group and grounds life and an incentive for cash.

 

भारत में 5,000 से अधिक एमबीए विश्वविद्यालय हैं । इनमें से लगभग 3,000 एमबीए विश्वविद्यालय निजी हैं, लगभग 500 सरकारी स्कूल हैं और बाकी निजी-सार्वजनिक विश्वविद्यालय हैं ।

 

भारत में एमबीए कॉलेजों पर प्रकाश डाला गया

 

 

भारत में एमबीए स्कूलों की-भारत में लगभग 5,000 एमबीए विश्वविद्यालय

 

खर्च

 

- वार्षिक शुल्क < 1 लाख रुपये: 30%

 

- वार्षिक शुल्क 1-2 लाख रुपये: 33%

 

शीर्ष विशेषज्ञता-वित्त, बिक्री और विपणन, मानव संसाधन, आईटी और सिस्टम, संचालन, अंतर्राष्ट्रीय व्यापार, व्यापार विश्लेषिकी

 

पुष्टिकरण प्रक्रिया

 

- प्रवेश आधारित

 

- मेरिट-आधारित

 

भारत में एमबीए विश्वविद्यालयों की-20 आईआईएम

 

बिजनेस एडमिनिस्ट्रेशन या एमबीए के विशेषज्ञ शायद भारत और विदेशों में सबसे अधिक पीछा स्नातकोत्तर कार्यक्रम है । यह दो साल का कार्यक्रम कॉर्पोरेट जगत में विभिन्न खुले पदों के लिए एक मार्ग है । विभिन्न नींवों से समझ, उदाहरण के लिए, विज्ञान, वाणिज्य और मानविकी एमबीए चुनते हैं । एक सामान्य एमबीए दो साल का कोर्स है जो चार सेमेस्टर में फैला हुआ है । कुछ निजी एमबीए प्रतिष्ठान हैं जो एक साल के पीजीडीएम कार्यक्रम भी प्रदान करते हैं ।

 

भारत में एमबीए विश्वविद्यालय कैट, एक्सएटी, एमएटी, सीएमएटी, एटीएमए, एसएनएपी, एमएएच सीईटी, केएमएटी, और कुछ और जैसे विभिन्न सार्वजनिक या राज्य-स्तरीय आकलन में उनके द्वारा प्राप्त अंकों के मद्देनजर समझ में प्रवेश देते हैं । देश के महत्वपूर्ण शहरी समुदायों में कई एमबीए विश्वविद्यालय हैं जैसे दिल्ली-एनसीआर, मुंबई, बैंगलोर, पुणे, कोलकाता, हैदराबाद, और इसी तरह ।

 

एमबीए कॉलेजों में भारत पात्रता मानदंड

 

एमबीए पाठ्यक्रमों के लिए योग्यता मानक एक स्कूल के साथ शुरू होने के विपरीत हो सकते हैं । किसी भी मामले में, मौलिक एमबीए योग्यता नियम निम्नलिखित के अनुसार है:

 

उम्मीदवारों ने शायद एमबीए (पूर्णकालिक) के लिए एक मौलिक योग्यता नियमों के रूप में किसी भी विषय में स्नातक या एक कथित कॉलेज से तुलनीय उत्तीर्ण किया । 
नींव का एक बड़ा हिस्सा स्नातक स्तर की पढ़ाई में बेस स्कोर मॉडल का पालन करता है जो आधा कुल या तुलनीय सीजीपीए है । सहेजे गए वर्गीकरण की समझ के लिए, आधार स्कोर 45% कुल या समान सीजीपीए है ।
पिछले साल स्नातक आवेदक एमबीए के लिए आवेदन करने के लिए योग्य हैं, उन्होंने फाउंडेशन द्वारा निर्धारित अवधि के अंदर स्नातक की डिग्री के फल का सत्यापन प्रस्तुत किया ।


एनआईआरएफ रैंकिंग के साथ भारत में शीर्ष एमबीए कॉलेज

 

संघों, उदाहरण के लिए, एनआईआरएफ भारत में सर्वश्रेष्ठ एमबीए स्कूलों और विभिन्न विश्वविद्यालयों को शिक्षित करने, सीखने और संपत्ति, अन्वेषण और विशेषज्ञ प्रथाओं, स्नातक परिणाम, प्रयास और समावेशिता और विवेक जैसी विभिन्न सीमाओं के प्रकाश में रैंक करता है । रेटिंग के द्वारा दिए गए understudies के दृश्य में पांच अद्वितीय सीमाओं की तरह पदों, ढांचा, कर्मचारियों की संख्या और पाठ्यक्रम, शैक्षिक कार्यक्रम, समूह और मैदान के जीवन और एक प्रोत्साहन के लिए नकद.

• How to Install Google Chrome on your iPad

Google Chrome is one of the most common browsers encountered in most electronic gadgets today. Most Smartphones, iPads use this browser. This browser was developed and published on September 2, 2008 by Google. It was designed to be used in Microsoft Windows, and later on the browser was ported to Linux, macOS, iOS (iPhone operating system) and today we find it in Andriod. One of the main components of Chrome OS (Chrome operating system) is Google chrome whereby it serves as a platform for running web apps. Google Chrome has 63% usage share of web browser worldwide as estimated by StatCounter (2017 statistics). Google Chrome is the most popular browser used in Smartphones, and successes from this browser have resulted in Google expansion in terms of chrome brand name. Hence, there exist product names such as Chromecast, Chromebook, Chromebase, Chromebox and Chromebit. With a chosen Google account, Google Chrome permits its users to synchronize their history, bookmarks, and settings across all devices. This synchronization is simply achieved through the sending and receiving of data through the chosen Google account. This in turn updates all cases of signed –in of Chrome. Chrome makes use of two tracking mechanisms (optional and non-optional) through which information is sent to Google. Through the installation interface and the browser’s option dialogue, some of the tracking mechanisms can be optionally disabled or enabled. Features from the browser are removed using the unofficial builds such as SRWare Iron. Google Chrome is highly stabilized and provides security. The management processes of Google Chrome includes a task manager which lets users know what plugins and sites use the most memory, overusing the central processing unit (CPU), downloading the most bytes, thus , provides an ability to stop them. Google Chrome has three identical logos, which have just a slight variation (variation in colour intensity and the first logo developed was a 3Dimensional logo.

Back, forward, refresh, cancel, and menu buttons are all included in the main user interface. By default, the home button is absent but can be added through the setting page. The main components of Google Chrome’s user interface are the Tabs and each has its own set of controls. The URL (Uniform Resource Locator) box that merges the functions of the address bar and the search box is commonly known as the Omnibox. The Omnibox which can also be used as a search engine is very similar to the traditional web browser address. This Omnibox is capable of answering questions and performing mathematical calculation. With Google Chrome, suggestions on previously visited sites or very popular websites are usually given when a user starts typing in the Omnibox.  Google Chrome usually conducts a search using the default search engine when a user types keywords that do not match any previously visited websites into the Ominbox. The fact that the New Tab Page can replace the browser home page and is usually displayed when a new tap is created is one of the key differentiating features of Google Chrome. The thumbnails of the nine most visited websites, recent bookmarks, frequent searches, and recently closed taps are always revealed. This is very similar to internet Explorer or Firefox. Several versions of Google have been developed and each version is always better than the previous version (see www.googlechrome download). Google introduced Google Chrome apps in September 2013. This was designed for desktops.

Google Chrome for iPad

It gives so much pleasure and flexibility using the Google’s Chrome browser for iPhone operating system on iPad, although it is not best to recommend that someone relies only on Google Chrome as the main iPhone operating system web browser. IPad is a computer tablet developed and marketed by Apple Inc. This tablet uses the mobile iPhone operating system (iOS). IPads are of different models and sizes and the first iPad was released in 2010. The latest model was developed on June 13, 2017, and all can connect through Wi-Fi. Google Chrome for iPad does not offer an extra speed but synchronization of your browsers among devices is very possible. Another good browser that works on iPad is safari. With Google Chrome for iPad, the familiar tab bar appears exactly like its desktop counterpart. There is a possibility of opening many tabs as you like on your iPad. It clearly displays an X to close any tabs and there is the possibility of rearranging tabs by dragging them side to side. You can add a current page to your bookmarks simply be pressing the star in the address bar. It is possible for Google to know where you are and what you are doing at any time just by signing into a Google account.  Synchronization of history, tabs, bookmarks, password and your Chrome browsing preferences is also very possible. With Google Chrome on your iPad, more time is saved when searching or trying to get into a site because the browser is capable of auto completing common Uniform Resource Locators (URL). The browser is clever enough to auto complete even for sites that you have not visited. Working with Google Chrome on your iPad offers a lot of advantages but switching to it full time is not the best idea. The fact that Google Chrome has a pull-to-refresh gesture which updates the user on latest information from the web in the mobile browser is also another good advantage. The complete absence of sharing options through email, tweet and other means is one disadvantage of working with this browser. There is no possibility of setting Google Chrome as your default web browser because Apple does not permit users to set third-party apps as default. How to download chrome and other apps on iPad is still a problem to some people. The procedure on how to download Chrome varies depending on the type and brand of the gadget. www.googlechrome clearly list the different versions of Google Chrome, with information on which version is suitable for various systems

Installation of Google Chrome on your iPad

In underdeveloped countries, many youths are not very familiar with Apple products. They tend to look at iPad and iPhones as gadgets with very complicated technological systems. The simple fact is that, many types and models of smartphones exist (Samsung, LG, Tecno, itel, and others) that use very similar and common operating systems. How to download Chrome and other app on these phones requires that you create a Google account. With a Google account already created, downloading Google Chrome on the phone or tablet is very easy. You just have to visit the App Store. When you are there, you can either

-       scroll up and down until you come across Google Chrome app or

-        you simply search by typing Google Chrome.

With this found, simply click on install. When this is done, download is launched and automatically your phone downloads the app. When the Google Chrome app has been downloaded, the terms of agreement appear. Read this terms then scroll down to the bottom and click on install. Installation will take just a few moments then you can enjoy. This is same way you use to download any other app on App Store.   

image

This is not the case with gadgets that uses the iPhone operating system (iOS) like the iPad. The very first step on how to download Google Chrome app on an iPad is to create an Apple ID. It is basically the first and most important step in downloading and installation of any app on an iOS device. When this is achieved, downloading and installing Google Chrome app is very easy. Access to downloading Google Chrome app and other apps and services (Apple music, FaceTime, iCloud, iMessage and many more) on the iPad App Store is granted through the account labeled Apple ID. This is what makes Apple gadgets very unique from other common android systems. With just a single Apple ID and password, you can sign in to and enjoy all services provided by Apple.

How to create an Apple ID on your iPad: Creating an Apple ID on an iPad is relatively simple. Both iPhone and iPad follows the same procedure in creating an Apple ID since they both make use of a common operating system. The Apple account otherwise known as iTunes account is the most important account when you have an iPad. This section gives the step by step procedure to create an Apple account because without this account, it is practically impossible to download Google Chrome on your tablet. It is worthy to note that the same way Google Chrome is downloaded and launched on your desktop or laptop computer using iTunes still applies. Creating an Apple account on an iPad is relatively less complicated compared to that of creating on desktop or laptop computer. It is always good to have an email address when creating an account be it Apple account, Google account and many more accounts.

With your iPad in your hand, first thing to do is to tap the settings. When it opens then select or tap iCloud. After this, there are two more considerations to make. Scroll to the bottom of the page or screen and sign out if you are currently signed into an Apple ID. It should be noted that there are number of steps to follow when signing out of the Apple ID. If not currently signed into the Apple ID then simply scroll to the bottom of the screen and while there you will see “Create a new Apple ID.” Tap on this instruction.

When “create a new Apple ID” has been tapped, the next instructions are very simple and each page has one purpose. Fill in your birthday and click on Next. On the next page that opens, you will find spaces to fill in your names, then, tap next. After this, choose any existing email address of your choice to use with the Apple ID. If you don’t have an email address, create a new one and continue. Enter the email address then click on next. You will be provided with a space to create your password. It is always advisable to choose a password that is stronger so that someone who knows you cannot easily assess your account. Most often many used their real names, date of birth or name of home town. People closer to you can easily assess the account by trying any of these. It is therefore advisable that your password should be a combination of certain names and some figures known only to you. After this then tap Next.

The next pages request that you enter three security questions. This is generally any question of your choice. Examples of such questions can be; what is your favorite meal? Who so is best teacher? Or who is your best aunt/uncle. Fill in simple security question that you will not forget and if you choose to enter complicated questions, note them on a sheet of paper and keep it safe. In case you have a problem with your Apple ID or in case you forget your password, you may be requested to enter these three security questions. Simply tap “Next” after entering the third security question, your Apple ID is created and ready to be used. It is advisable to verify this by signing in with your Apple ID.

On the other hand, you can decide to visit the Apple website (http://appleid.apple.com/account#!&page=create) to create an Apple ID. Enter the same information requested from the previous procedure (email address for your Apple ID, password, three security questions) then tap continue. When this is done, Apple will immediately send you a 6-digit confirmation code to your chosen email address. Simply enter this 6-digit confirmation code on the website and create your Apple ID by clicking on “Verify.”

Download and install Google Chrome on your iPad: With your Apple ID already created, downloading and installing Google Chrome app on your iPad is relatively simple. To install Google Chrome on your iPad requires a very brief procedure. You don’t download Google Chrome; follow certain procedures as you do on certain computer software before the installation of Google Chrome. The first step you need to take to download and install Google Chrome is that

-        you should visit the App Store. There in the play store, scroll up and down until you fine Google Chrome app. You can decide to search by typing Google Chrome app which is relatively faster and easier. You will easily identify the Google Chrome app by its icon.

-       To download Google Chrome, simply tap “Get” and to install the Google Chrome app, simply click on install.

-       To complete this process (downloading and installing Google Chrome), enter your Apple ID, then click on Ok.

-       Visit your home screen and tap on the Chrome app to start browsing.

There are several ways to download and install Google Chrome on your iPad. With a different browser on your iPad, you can make several requests by either typing Google Chrome download or install Google Chrome. This browser will navigate the command. Generally, your request will be navigated to App store and from there; you can follow the procedure above. By visiting the site; www.googlechrome  you will gain access to download and install Google Chrome on your iPad. On www.googlechrome download you will find Google Chrome for android, some reviews on the software and information on how to download and install Google Chrome.

Summarily, how to install Google Chrome on your iPad involves two phases; download Google Chrome, then install Google Chrome. Although these phases are separate, they appear to run simultaneously on some gadgets because once you locate the App on App store, click on “install” then the downloading process will start. By clicking on ‘Get’ on App Store on your iPad, the downloading process sets in. To carry this out in the installation phase, there is a need to use an Apple ID. With your Apple ID, how to download Google Chrome and install is not a problem if you follow the procedures discussed above.

Some advantages of Google Chrome

Google Chrome is capable of opening as many tabs as you want. The fact that it has the ability to open unlimited tabs makes it better than some browsers like Safari which is capable of opening just 9 tabs.

Another advantage of using Google Chrome is that of synchronization and the fact that it is build with voice search. While working on something, voice search is advisable, thus the inconvenience with typing and working at the same time is solved. Google Chrome also has the ability to remember passwords. More information on Google Chrome over is presented on www.googlechrome download.

 

 

 

• Top 7 Loan Myths Every Borrower Should Know

 

Some people are intimidated by the idea of obtaining a loan. Whether it’s a personal, a business or a home loan, it can be quite challenging to understand all the nuances of how they work. You may have heard how hard it is to get approved for one. Don’t believe everything you hear. We’ve spoken with financial experts and gathered some useful information for every potential borrower. Let’s debunk these top 7 common loan myths.

Getting Approved for a Small Personal or Business Loan is Almost Impossible

 It’s definitely not the easiest and quickest process, but obtaining a loan shouldn’t become an insurmountable challenge for you. Financial experts advise preparing for the possible difficulties during the application process to avoid trouble. “Have all your documents in order, be prepared and optimistic,” states Michael Adam, CEO, and founder of Bankmybiz, a website connecting entrepreneurs with business lenders. 

The Best Way to Get a Loan Is Through a Bank

For many years, traditional banks have been the main institutions of small personal and business loans. In some situations, they still remain a mainstay. But for borrowers who need a relatively small amount of money, it’s more exhausting to obtain a bank loan. Loans from banks can be appropriate for entrepreneurs looking to borrow a huge sum of money over a long time period. As for small personal loans, alternative lending options often provide faster and easier approvals within just a few days. You can easily find trustworthy 24/7 payday loans direct lenders with the help of reviews and former customers' feedback. 

You Won’t Get Approved for a Loan If You Have Bad Credit Score

Though the bad credit ratings might be the reason for not obtaining a loan, the modern lending environment has become more open low credit scores. “When it comes to getting credit, traditional banks might be more restrictive than alternative options,” mentioned Michael Kevitch, founder, and president of Small Business Funding. Payday loans and private lenders can be a great alternative option, especially for business owners. These lenders usually base their decisions on the financial reality of the company rather than on the financial history of an entrepreneur. Such lenders may take a closer look at the industry type, business performance, and cash flow.  

You Won’t Get a Bad Credit Home Loan

Another myth concerning the low credit ratings is that only people with defaults can qualify for them. Bad credit home loans may not only help borrowers with a past bankruptcy or defaults but also provide a wonderful chance to protect your credit record. Everybody may experience sudden financial trouble when credit cards and your home loan seem to get out of control. It can lead to putting defaults on the credit score of the borrower, and as a result, limit their ability to get loans for the next 7 years.

In order to get back to an affordable single repayment, go ahead and consolidate your debts. Once you have demonstrated at least 6 months good history and resolved your financial hardship, you can refinance your home loan back to a normal one with a great rate. 

The Worst Way to Get a Loan Is Through a Bank

There can’t be one perfect funding solution for every person or business owner. However, traditional banks are far from the worst lending option. Banks may limit only the growth of young companies which tend to grow very fast due to their industry (IT, health-care). Other than that, going traditional way can benefit the moderate and steady growth of a well-established business.

The More Money You Want, The Less Likely You Will Be Approved

This myth is common in online communities and forums. Financial experts assure that banks actually prefer lending bigger sums because larger loans will bring them more profit in the long run. Yet, make sure you take only what you can afford to pay back. 

The Interest Rate Is The Most Important Factor

Interest rates are definitely one of the most significant aspects to consider before applying for a loan. Also, pay attention to other factors, such as the loan terms, repayment plan, and what the loan can be used for.

These were the top 7 myths every borrower should know. All in all, the most important thing to do before you apply for a loan is to talk to an expert and receive the right advice about your particular financial situation.                                                                                                     

                                                                               

                                                                                                                  

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