Archive for

Today, Filing Bankruptcy Might Be A Great Investment

Spending money to file for bankruptcy almost sounds counterproductive, but it could be the best investment your family ever made. In today’s economy, banks are only paying barely 1% for money in one’s savings account. The volatility of the stock market makes it a terrible investment for anyone that needs a long-term return. Today, most Americans are buried under a mountain of credit card debt and are continuing on making the minimum payments just to keep those accounts open. Most people think that taking money out of a savings account to pay off credit card debt is off the table even though they are probably paying 26% interest on a credit card and receiving 1% interest on the savings account. Most people understand the whole concept of protecting what assets you have for a rainy day. That’s why, if there is no way out of debt, filing bankruptcy should be considered.

Back in 2010, the Wall Street Journal reported that the average American household had approximately $40,000 in personal debt. This is a substantial amount of debt that is next to impossible to pay off considering the interest rates being charged. An easy test for a person to take is to add up all their credit card bills and budget a monthly amount that is affordable to pay on the debt. If the debt cannot be paid off in six years if there are no more charges to the account, a bankruptcy filing should be considered. Filing bankruptcy can be a way to regain control of an individual’s life and pocketbook. Doing nothing, might seem tolerable and safe, will keep the individual in bondage to those debts for life. Most people have to weigh the positives against the negatives before deciding to file for bankruptcy. The easiest way to do this is to drop in on a bankruptcy attorney and have them take a look at the individual’s financial situation. The other way is to just do some research on the Internet.

If someone is on the fence and having trouble deciding on filing bankruptcy here are a few things that might sway their decision:

  1. Right now is a good time to file for bankruptcy because the economy is down and the value of the individual’s property is much lower making it easier for the bankruptcy attorney to protect more property with the bankruptcy exemption laws.
  2. Eliminating the stress is probably the best reason but usually not considered in the beginning. Stopping the creditors from constantly calling and threatening an individual can ruin a person’s health and marriage. Protecting one’s health should be at the top of the list.
  3. Not filing bankruptcy because you’re worried about your credit report is foolish. Usually when a person gets to the place where bankruptcy filing is on the table, the person’s debt ratios and late pays have probably already destroyed their FICO score. After the bankruptcy discharge, the individual can quickly start rebuilding their credit putting the bankruptcy far behind in the rearview mirror.
  4. Depending on the age of the individual filing for bankruptcy, a person should not wait until they are ready to retire. Facing bankruptcy head-on will allow the person to recover before retirement.
  5. With the large number of families facing foreclosure, filing bankruptcy will eliminate any liability on a piece of property that the individual might want to surrender back to the creditor. It also can help an individual avoid foreclosure by eliminating all the unsecured debts that in many cases will free up enough money to make the mortgage affordable.
  6. Filing bankruptcy will stop foreclosure. Filing Chapter 7 bankruptcy will stop foreclosure at least temporarily. Depending on the situation, the creditor has the right to file a relief of stay allowing them to restart the foreclosure process. Filing Chapter 13 bankruptcy is a better option when the individual is filing for bankruptcy for the reason of protecting a piece of property. All individual’s situations are different and should be discussed with a bankruptcy attorney as the results very.

For those in debt, inaction or pecking away at it slowly will solve the problem. People in this situation should consider discussing the matter with a bankruptcy attorney to see if filing bankruptcy will work for their situation. Many people find out that the facts they thought they knew about bankruptcy are more based on myths than understanding.

Make No Mistake About It Network Marketing Is A Business!

How fast your network marketing business grows depends a lot on how serious you see it as a business. If you were to start a traditional business with a capital of say, US$100,000, what would you do? You would indeed invest a lot of time and effort just to get it started. Drawing on my own IT System Integration business experience, you would be looking at the issues below, just to name a few:

- business model (retail, wholesale, products or services)

- business name (brainstorm for a relevant name)

- location (do I need walk in customers?)

- sales and marketing (how do I market? through advertisements, word of mouth, exhibitions?)

- accounts (who will keep my accounts and pay salaries?)

- human resources (who to employ and how to employ?)

- expected breakeven period (when do I start making money?)

- expected profit (what profit am I expecting in the long-term?)

You would be take the business very SERIOUSLY! You would prepare to work very hard, even sacrificing your weekends and Public Holidays, for perhaps the next 1 year or even longer, before your business takes off and becomes profitable. In other words, you will OPEN SHOP everyday!

In network marketing, many people do NOT treat their business as a business.

Why do I say that?

That’s because they don’t plan like they do in a traditional business. They have no goals, no strategies, no plans!

And worst still, they don’t take action!! That means, they do NOT open shop much, definitely NOT everyday like they would in a traditional business…

Network marketing is a Word-Of-Mouth referral business. It’s been around for more than 50 years!

So, to open shop everyday in network marketing simply means to share with someone everyday, be it your family, friends, business associates, etc. However, many people, after joining a network marketing company, don’t do that. They will share only if they feel like or when they happen to come across someone who’s interested.

Thus, it boils down to one thing – they do not take their network marketing business as a real business. And no wonder, their business don’t grow fast enough…and after a few short weeks or months, they’ll proclaim that this business cannot work :-)

Why so? Frankly, I believe that there are many factors that have to do with human psychology. But one reason I can think of is that because they start with such a small sum of money like a few hundred dollars in most opportunities, they can afford to lose it and therefore do not take their business seriously.

And guess what? These same people will move on to the next great opportunity as soon as it appears on the scene! Soon, these network marketing or MLM junkies will soon ruin their own credibility and reputation in their own circle of friends and contacts. Plus, each time they move to the next opportunity which they think is their “magic” pill, they are indeed uprooting all they have planted and then planting a new seed once again.

When you treat your network marketing business seriously, your business will surely grow over time! That’s the universal law of sowing and reaping.

Invest In A Marquee For All Your Company Events

Nothing is worse than being cooped up in the office all day. The workplace is terrible for meetings, dreary for clients and uninspiring for staff. Instead of hosting all of your corporate events at work, why not make a move outside for sales, morale and a new backdrop to inspire ideas and innovation.

Meetings can carry negative connotations. The very word can inspire bouts of sick leave and absenteeism. Cooping staff up in an office for a few hours at a time, pouring over plans and “future direction” doesn’t sound like a lot of fun. Why not turn your business planning sessions into an event of its own? An outside meeting coupled with lunch and set against an interesting new backdrop is the perfect way to bring the excitement back to business. It’s an excellent way to make inspire more creativity and let your staff have some fun while doing their job. If you’re entertaining people from other companies, working outside the office can help make everybody feel more relaxed and comfortable.

Owning your own outdoor shelter that can be set up anywhere opens the doors to a wide array of opportunities when it comes to locations you can host meetings and functions. Marquees for sale are a great investment for any business that wants to explore or host events somewhere new.

While you’re at it, why not have one customised for your business? Company branding on your marquee can help you stand out. Having a logo easily visible at expos and events where you are vying for visitor’s attention couldn’t be easier. A branded marquee is far more versatile than you might imagine.

If you host any kind of corporate event, whether it’s for the public or just for staff, you want to look professional. A portable shelter can create a central focus and keep a function far more organised. Companies that do on-site promotions need to make their presence known. If you want to create professional image at public events you need to be clearly identifiable. Having your own branded marquee will help your business stand out.

Don’t be the one running around looking for something to throw over your guest’s heads at the last minute. Nothing looks worse for your business than poor organisation. Make your brand and presence known wherever you are; for corporate functions, on-site promotions, entertaining and a more interesting business meeting invest in a branded marquee.