Connect with us

Business

How To Get Funding For Your Small Business

Published

on

small business

It can feel very overwhelming being a small business owner. Sometimes you might not even know where to start. This article was created to give you some tips on how to obtain resources to grow your company. The most important thing is to never quit on your dreams. There are so many tools out there that can help you grow your company more efficiently. 

Visit the Small Business Association in your city

It is very important to write a business plan. Before you seek out funding, it is critical to have a clear outline of your business goals and objectives. The SBA can assist you with reviewing your business plan and help in advising you on available funding programs. They also have mentorship programs that you can sign up for. It is vital to network with other professionals in your industry.

The Small Business Association can also provide a plethora of tips on preparing a financial statement. It is important to understand your company’s profits and losses. An Income Statement can assist you with measuring your company’s profitability over a period of time. Each month, you should evaluate your company’s financial records. You don’t need to be an accountant to prepare these types of statements. It is critical to understand every aspect of your business before you seek funding.

Research grant programs

There are available grant programs that you can apply for. Grants for small businesses have a challenging application process, plus businesses need to meet certain requirements in order to qualify. There are grants available for specific demographics, research purposes, geographic locations, and business types.

The federal government does provide grants to small business engaged in scientific research and development (R&D) under the Small Business Innovation Research (SBIR) Program. Depending on the nature of your business, you might be able to qualify for a variety of different grants.

Develop a personal saving plan

It is very common for small businesses to be self-funded. You would be surprised about how much you can save if you create an effective budget. Reducing eating out at least twice a week can save you hundreds of dollars each month. Having a social calendar is fun, but you have to remember that you are building your small business right now.

If you are selling a product, a great way of saving money is by buying in bulk. You can sometimes get great discounts by buying items from overseas. Another great way to save money is by making your own products or printing your own marketing materials. Try being creative and you never know what can happen. It will feel very gratifying to see the results of your hard work. Handmade items also give a very personalized and custom feel to the items. Pinterest is a great site to get inspiration for your projects.

Host a fundraising event

Giving back is very important and there are several non-profits that are doing great things in the community. If you are looking to obtain funding for a good cause, try hosting a fundraising event. Several restaurants are willing to allow you to host a free event at their location and donate a portion of everyone’s meal to charity. You could also add a feature on your website to allow customers to donate a $1 to your charity at the checkout.

People love to read positive stories about companies that give back to the local community. You can also offer individual internships at your company, so they can get school credit or community service hours. Once you have raised funds for your charity or non-profit organization, you can issue a press release or invite a local news station to report what you are doing for the community.  “Kindness in words creates confidence. Kindness in thinking creates profoundness. Kindness in giving creates love.” – Lao Tzu

How business loans can be effective

There will come a time when you need to grow your small business. It is difficult to grow your business if you don’t have the available cash flow. A lot of startups fail because they are unable to take their businesses to the next level. I suggest that you review your business and write out your expenses. Estimate how much money it would take for you to operate, then use that figure to help determine how much you need. You will most likely need to provide financial records to show the amount of money your small business earns as well.

Several well-known banking institutions and online sites offer small business loans. Credit unions and community banks are very small business friendly. Obtaining a line of a credit is also a possible option. Check your credit score because that will play a huge part in getting your loan approved at a good interest rate. There are predatory lenders out there that will offer extremely high interest rates. You don’t want to get a business loan and then end up losing your business trying to repay the loan. Having a business loan can reduce the stress of covering your current overhead, get you to pay your staffs, and will allow you to focus on growing your business.

PayPal is a great tool for tracking your business expenses and generating reports. You can also use the PayPal card swipe machine to accept payments for a fee. A little known resource is the PayPal Working Capital funding service. I would advise that you read the reviews and important disclosures regarding this funding option. PayPal Working Capital offers flexible payment options, fixed fees, no credit check, and funding is available in minutes if approved.

Crowdfunding might be a great option

There are several popular rewards-based crowdfunding options. This is where companies offer ‘rewards’ or ‘perks’ to individuals who pledge to his or her project. It is important to research all of the pros and cons associated with this option. These programs also allow you to interact with the world and obtain feedback on your company or idea. A potential investor might be out there waiting to jump in and help you fund your small business.

There are also several personal online fundraising sites that you can share with your friends and family. It is recommended to have a strong presentation of what the funding will be used for. This will help you obtain more funding and encourage more people to share it with others. This option typically doesn’t generate as much revenue as crowdfunding, but it can be very effective.

If you are looking to create a small business, I would like to wish you the best of luck. Owning a small business is one of the most rewarding and scariest things that you will ever do. America was built by small businesses and it is important to know some of the available tools to grow your company.

Business

Top CEO Salaries

Published

on

Elon musk

One of the most coveted positions is the Chief Executive Officer (CEO) role. The position comes with benefits and bonuses. However, it does come with many responsibilities to ensure that the company operates smoothly. 

That’s why corporations need to entrust the role to someone deserving of the position and can help raise the company soar to new heights. When done right, that CEO can get so much more than what their company offers. As such, in this article, we discuss the top CEO Salaries in 2019.

ELON MUSK

Two CEO indexes list Tesla, Inc.’s Elon Musk as the CEO with the highest salary. The majority of his salary is option awards ranging from $500M to $2 B, which made him high up the list. His actual salary is around $56,000.

Meanwhile, for the Forbes Billionaires 2019 list, he was number 40. His net worth is $22.3 B.

Not only does he leads Tesla, but he’s also the CEO of SpaceX, Neuralink, and The Boring Company.

SAFRA CATZ

Before Mark Hurd’s passing in 2019, Safra Catz and Hurd were both the CEOs of Oracle. Based on the New York Times index, Catz and Hurd received equal pay as Co-CEOs. Catz (and Hurd) gets more of her CEO salary from stock options. She has $103.7 M from stock options.

Furthermore, she’s also part of the Forbes Billionaire 2019 list having a net worth of $1.1B.

ROBERT IGER

Walt Disney Co.’s Robert Iger is always part of the Top 10 CEO salaries index. He’s both the Chairman and CEO of the company. Most of his salary comes from stock options or acquisition awards ($30 M to $100 M range). His actual salary is more or less at $2.8M.

TIM COOK

It’s no surprise that Apple’s CEO makes it on the list. Apple continues to become one of the largest tech corporations in the world through innovation. According to Bloomberg, Tim Cook has an estimated $140M overall compensation. Most of his salary comes from stock awards (~$125 M) and bonuses ($12 M). 

DAVID ZASLAV

Discovery Inc.’s David Zaslav has been the media channel of Discovery Media since 2007. He receives most of his salary from stock options and retention awards ranging from $60 to $100 M. He also receives $3 M as his actual salary, making him part of the Top CEO Salaries list.

NIKESH ARORA

Palo Alto Networks is a cybersecurity company and welcomed its new CEO in June 2018. The newly-appointed CEO, Nikesh Arora, has one of the highest CEO salaries. Even if his actual salary is on the $100K to $200K range, his stock options gave him the boost. The range of his options is from $60 to $70 M.

JOHN LEGERE

As CEO of one of the largest mobile networks in the US, it’s no surprise that T-Mobile’s John Legere is part of the top 10. As with many on the list, stocks are one of his main sources of compensation. As such he receives around $58 M from it. Based on the S&P 500, he has an annual salary of $66 M.

JAMES HEPPELMANN

James Heppelmann is the president and CEO of PTC, Inc. It’s a company delving into software solutions. Most of his salary comes from stock, ranging from $20 M to 45 M. According to the Russell 3000 Index, his annual salary was at almost $50 M.

VIVEK SHAH

J2 Global is a global internet and service company that handles known brands like Mashable, IGN, and PCMag among others. Vivek Shah is their CEO accumulating around $45 M in 2018. The majority of his salary comes from stocks valued at $35 M.

RICHARD HANDLER

Richard Handler is the CEO of Jeffries Group. The company handles financial services such as investment banking and asset management. According to the New York Times Index, his overall salary is around $45 M, and he receives most of his salary with stocks priced at almost $39 M.

KEY TAKEAWAYS

Some corporations provide a low basic salary, but through stocks, some are compensated. In turn, they’re able to skyrocket at the top of indexes. Meanwhile, some have high salaries, but get more through stocks and benefits. 

In this regard, not all CEO salaries are the same. It’s dependent on what the corporation gives them and how they can make better use of their salaries especially when given stock options or rewards.

Continue Reading

Business

How To Successful Deal With Stress Like A CEO

Published

on

White man with plaid shirt sitting stressed out by ocean

You’ve encountered stress countless times. And everyone has their own way of dealing with stress. Whether it’s taking a quick walk, drinking some water, or reading, knowing how to deal with stress effectively is essential to both your personal and professional life. Stress is a natural part of existence and knowing how to deal with it effectively will be the difference between success and failure. Here are some effective stress management techniques used by some of the most successful people in the world.

Taking A Walk

Man walking in a field

Despite its simplicity, taking a walk does several things for you. First, it removes you from the environment or situation that’s causing the stress. And by removing you and taking you as far away as possible from the source of stress, you’re much more likely to be able to think more clearly. Taking a walk also has the added benefit of promoting more blood flow to your brain. Your legs are powerful pumps that help circulate more blood throughout your body. And taking a stroll outside also gives you a nice breath of fresh air. All these factors combine to give you an edge in thinking more clearly and then deciding what to do with the situation.

Take A Nap

Beautiful white woman sleeping on bed

Or get a good night sleep. Your ability to think clearly can be inhibited if you’re not well rested. Taking a quick nap or attempting to get a good night sleep will help reduce tension and allow you to wake up with renewed energy to tackle the problem at hand. Taking a nap or getting some sleep is also effective at removing you emotionally from the problem. Constantly dwelling on the source of stress might not yield any immediate answers. However, waking up from a good nap may give you some newfound perspectives on the situation.

Writing Things Down

Person writing using pen and paper

Sometimes the thoughts in our head aren’t as clear as we’d like them to be. Sitting down and writing down what’s stressing us out and clearly detailing the event/incident can often give us insights into the situation. Writing things down also helps to calm us down if the stress is high and caused anxiety. The simple act of writing and keeping the notes also helps us recall past events that are similar to this one. And you can look back at some previous notes you’ve written to see if there are similarities and draw conclusions.

Do Something Nice For Someone

Asian woman holding up red heart cutout

As odd as it sounds, the more we think to ourselves and about ourselves the more likely we are to obsess over our own stress. Sometimes we forget that we’re all in this together and that everyone also goes through stress – just like us. By doing something nice for someone else, it removes us from our current self and allows us to empathize and think about another human being. It’s a simple act of kindness that helps someone else and at the same time, buys us a bit of good karma. Helping another individual also helps release dopamine, a chemical that helps us feel good about yourself. And sometimes we just need a bit of boost to give us the confidence to go back and face the situation at hand.

Ask For Advice From A Colleague

Man and Woman sitting outside talking

Talking to someone can certainly help. But you don’t want to come off as venting or complaining about your life. It’s better to consider carefully who you’re going to reach out to and frame the conversation as getting advice on a situation, rather than needing to vent. Because when you’re venting or releasing steam, the other party is less likely to add value to the conversation, since you’re not looking for anything other than someone to vent to. When reframed as getting advice, you’re giving someone the permission and space to review your situation, ask productive questions, pick at the problem, and hopefully help you see the problem from a new perspective that you didn’t see before.

Continue Reading

Business

Hedgehog Umbrella: The Umbrella For All Seasons

Published

on

With the stormy season just over the horizon, what better time to invest in a high-quality umbrella other than now?

Introducing the Hedgehog Umbrella; a compact umbrella that is able to withstand strong winds up to 70mph without breaking. Yes, 70 miles per hour winds, that’s already a category 1 hurricane.

The structure was inspired by automobile technology. Its WINDFlex system can confidently say that it can withstand anything nature has to offer. It has a carbon fiber construction, a sturdy stainless steel shaft and handles, with polycarbonate joints.

One might ask, why in the world would someone need an umbrella that can hold up or withstand hurricane-level winds? Well, we would say, “Why not?”. Umbrellas were designed to either keep us dry during the rain or provide shade when it’s sunny. That is often the case. But when faced with strong, chaotic winds – our umbrellas tend to break – making us buy umbrellas over and over again.

But the hedgehog umbrella provides a solution to a problem we always tend to sometimes overlook. As its company has boldly stated, “the hedgehog umbrella is engineered to be unbreakable, tested to the extreme, and backed by a global lifetime warranty.”

To understand this statement, let’s have a look at the different aspects of what makes the hedgehog umbrella amazing.

Fashionable and Customizable Canopies

With the hedgehog umbrella, you can choose from a variety of colors. The canopy is comprised of a 210 thread count Pongee fabric that is water repellent – which is thin sturdy. It is also built in a way that you can easily switch out canopies if the need arises.

The hedgehog umbrella will also be releasing an option in the near future to customize your own canopy via uploading an image. Now your dream of having an umbrella with your dog’s face on it can come true- or not.

Short and Practical Umbrella Shaft and Handle

The hedgehog umbrella also comes with the usual umbrella “slip” so you can easily store it all tight and snug like. Once collapsed and ready for storage, the umbrella is only 13 inches long and weighs 1 lb, making it easy and practical to bring along with you anywhere.

Unfortunately, the hedgehog umbrella does not come with an automatic button for deployment. Though priced at $99, it is a fully manual umbrella. But at the same time, the automatic machinations are what makes umbrellas weak, so though the hedgehog umbrella sacrifices a little bit of luxury, it makes up with emphasizing its bold statement of being “unbreakable”.

On that note, to deploy the umbrella, one just needs to hold the handle and use the other hand to push the frame up towards the lock at the top. To close it, one just needs to press the button at the center to unlock the lock mechanism.

The handle is thick, making it easy to grasp giving out a feeling of sturdiness and dependability. The overall feel of the hedgehog umbrella gives out a sense of comfort. Even though it’s made of high-grade materials able to withstand hurricane-level winds- it’s petite structure and design can sometimes make you forget.

Width Capacity

When fully deployed, the hedgehog umbrella can comfortably fit two people within its canopy span. So you don’t have to worry if this umbrella can fit you and your significant other because yes, it can.

To summarize, the hedgehog umbrella has the ability to:

  • Be unaffected  by 70MPH winds
  • Interchange canopy 
  • Design your own canopy (for the fashionista inside all of us)
  • Provide lifetime warranty
  • Ensure practicality and be built using high-grade materials

What does that mean? It means that the hedgehog umbrella has successfully solved most problems people have with umbrellas:

  1. it’s unbreakable
  2. it’s compact and practical
  3. it’s eloquently designed, and
  4. it has a lifetime warranty

Wrap Up

Gone are the days when you have to lower your umbrella or to make sure you’re walking downwind just so your umbrella won’t break. Gone are the days where you have different separate umbrellas for different occasions; be it windy, rainy, or sunny – the hedgehog umbrella is a star for all seasons.

You will no longer have to think about where to put your big long umbrellas. With the hedgehog umbrella, you can easily store it inside your bag. With the design, you also don’t need to worry about putting an eye out. The hedgehog umbrella can be the best friend you never knew you needed. Be it rain or shine, it will be there for you – protecting you. 

Though it is indeed a bit pricey at $99, plus it lacks the automatic button for deployment, it is still without a doubt one of the best umbrellas out there. If you live in a windy or rainy area, the hedgehog umbrella is a must-have item for you. 

Continue Reading

Trending