“Exciting News! Alliance Group Capital Has Recently Been Added To Financial1000, a trusted platform connecting individuals with a wide range of businesses and professionals in the financial sector. Visit our profile on Financial1000 to explore our services and stay updated with our latest news: HERE!

What’s the difference between a startup and any other business?

All startups are businesses, but not every business is a startup.

Nearly 100,000 new businesses were formed each week in the United States in 2022. But what sets a startup apart?

As a professor of marketing and innovation who has worked at several startups, including Netflix in its early days, I can share some of the differences between a startup and a more traditional business.

Startups are inventing something new

A traditional business generally has an established solution to a known problem and has not developed anything particularly new.

For example, a new sushi restaurant in your neighborhood may be a new business, but it is by no means a startup. However, if a new local company had developed a device that automated sushi-making and tried to get sushi restaurants to try it, that would be a startup. The restaurant is simply trying to satisfy the neighborhood’s needs for sushi, whereas the device company is trying to change all sushi restaurants with its new method.

A startup is centered on an innovation that has never been brought to market before. This could be a product or service, a technology, a process, a brand, or even a new business model. Generally, they have big industry-changing goals about disrupting the market leader or current customer behavior.

Think Uber, an inventive startup that originally operated in San Francisco. It built off the time-tested taxi model – a business – and created a unique ride-sharing app that had never existed previously.

The goals of startups

Regardless of their product and location, the main focus of a startup is to figure out if there is a need for their product.

Startups are trying to find and optimize a target market for their new solution. Who would value and buy what they have developed? Startups often think they have a good picture of who would like what they are building, but they’re not always right.

For example, I headed marketing nearly a decade ago at relationship-focused tech startup Contactually. When Contactually began to promote its services, it aimed for small businesses in several industries, thinking that the product met needs equally across all of them. But subsequently we found out that our offering worked particularly well for real estate agents and brokers, and we started to put all efforts into meeting this group’s needs exclusively.

Part of identifying a target market is establishing a product/market fit – the degree to which the innovation satisfies a market need. Startups know they may be on to something when customers from the target market purchase the new solution and are willing to share their positive experiences with others.

Once a startup has passed those stages, it will try to scale. This means successfully growing the startup so that it’s not limited by funding or staff. For example, once Netflix launched its streaming platform in 2010, it was able to scale around the globe in an easier and faster manner than if it had stayed with its original DVD-by-mail business model.

Finally, to accomplish the things that would enable it to scale, startups are generally focused on spending time with and learning from their customers. Once they reach a specific size, most businesses focus less on customer learning and more on making the company more efficient.

Transitioning into an established business

Amazon, Netflix, Uber and Airbnb are global powerhouses that began as startups. Successfully growing a startup into a prosperous company is extremely hard. Industry data suggests that 90% of startups will fail.

Once established within their market, traditional businesses find themselves with a different challenge: running more efficiently.

Startups may be able to rely on funding from different kinds of outside investors while they gain their footing. But an established business needs to run smoothly to make a profit from what it’s selling.

Non-startup companies need to figure out how to manage workers better and run the business in a way that solves the customers’ problems while enabling the company to meet all of its goals.

For a non-startup business, specific goals could be how much money or profit the firm makes, how and where to expand to grow more or faster, how much time it takes to create a product, or how to make more products with the same or fewer resources.

While the focus of a startup is to determine if there is a demand for a new and innovative product, the primary goal of a traditional business is to create an efficient operation that can last far into the future.

With luck, a successful startup, like Uber or Netflix, will scale and grow, eventually evolving into a traditional business – one that some future startup may try to disrupt with a brand-new idea.

Hello, curious kids! Do you have a question you’d like an expert to answer? Ask an adult to send your question to CuriousKidsUS@theconversation.com. Please tell us your name, age and the city where you live.

And since curiosity has no age limit – adults, let us know what you’re wondering, too. We won’t be able to answer every question, but we will do our best.

Joel Mier, University of Richmond

Joel Mier, Lecturer of Marketing, University of Richmond

This article is republished from The Conversation under a Creative Commons license. Read the original article.

I am looking for two additional expert witnesses in a commercial real estate lending case.  You will be paid an expert witness fee for your time, and qualifying as an expert looks great on your resume or on your website.  All testimony will be given using Zoom.  Here are the details. Last week, Bank of America shook up the investing world with their latest letter to their investors.

A torrent of fiscal and monetary stimulus to fight the effects of the coronavirus, combined with already-low interest rates, will contribute to a ‘Great Debasement’ of the U.S. dollar in the years ahead,” according to Bank of America Merrill Lynch.

“That, in turn, will make investments in commodities and emerging markets more appealing, as investors look for reliable inflation hedges and savvy ways to play a weaker greenback,” BofA chief investment strategist Michael Hartnett wrote.

“Interest rate repression means investors can’t hedge the inflationary risk of $11 trillion of fiscal stimulus via ‘short bonds’ … so investors are crowding into ‘short US dollar’, ‘long gold’ hedges,” Hartnett wrote.

U.S. dollar depreciation is “well underway as the default narrative for a US economy with excess debt, insufficient growth, and maxed-out monetary and fiscal stimulus,” he added.

“Holy Poopski!” as they say in Russia.  In my lifetime, the dollar has always been the strongest currency in the world.  Now Bank of America is saying that the value of the dollar will be falling steadily in the coming years.  This means we will start to suffer inflation again, after decades of disinflation, as imports cost more and more.

But what was The Great Debasement?  Debasement means mixing more of a common metal with the precious metal (usually gold or silver) that gave the coins its worth, while maintaining the face value of the coin.

The reasoning behind debasing the coinage was to be able to make more coins and therefore create more money.  However, the side effect was inflation, with people hoarding the older coins that contained more of the precious metals.

The Great Debasement (1544–1551) was a currency debasement policy introduced in 1544 in England, under the orders of Henry VIII.  The Great Debasement saw the amount of precious metal in gold and silver coins reduced, and in some cases, the precious metal replaced entirely with cheaper base metals, such as copper.

By 1551, the coinage was worth one fourth to one-sixth what it had been before Henry VIII began the debasements.  Eventually the layer of silver had become so thin that it would wear off, revealing the copper below.  This happened particularly on Henry VIII’s nose on his image on the coin, giving him the nickname, Old Copper Nose.

Overspending by Henry VIII to pay for his lavish lifestyle and to fund foreign wars with France and Scotland are cited as reasons for the policy’s introduction.  The main aim of the policy was to increase revenue for the Crown, at the cost of taxpayers through savings in currency production, with less bullion being required to mint new coins.

During debasement, gold standards dropped from the previous standard of 23 carat to as low as 20 carat.  Silver was reduced from 92.5% sterling silver to just 25%. Revoked in 1551 by Edward VI, the policy’s economic effects continued for many years until 1560, when all debased currency was removed from circulation.

In defense of Henry VIII, the countries of Europe had been debasing their own currencies for decades.  A common practice of the period was the clipping of coins, or removing some the valuable metal from their edges.  This is why the edges of later coins were eventually given those scores of vertical groves, to expose any evidence of clipping.

Because English currency had not yet been debased, it was, prior to 1544, the envy of Northern Europe.  Unfortunately, English currency kept disappearing from circulation.

Think about it.  You owe a debt that must be repaid with a one-ounce gold coin.  You have two coins.  One is a French gold florin that is 50% gold.  The other is an English gold sovereign that is 88% gold.  Which will you likely use to repay your debt?  Which coin will you keep?  This leads us to Gresham’s Law.

Gresham’s Law is the tendency for money of lower intrinsic value to circulate more freely than money of higher intrinsic and equal nominal value.  Nominal here means face value.  In layman’s terms, “Bad money drives out good.”  Debased coins drive good coins out of circulation.

When merchants worldwide lost confidence in the English mint, English traders were financially punished.  If they had a coin that was 20 carat, it traded at an even lower exchange rate, say 18 carat.  Since England was a trading nation, and its merchants were losing money on every exchange of coinage, the debasement was eventually ended.

But that didn’t immediately end the problem for English merchants.  English coinage had lost the confidence of the world.  The discrimination against English coinage continued for another nine years.  Finally the Crown was forced to buy up all of the debased coins – sort of like when the U.S. eventually redeemed all of the greenbacks issued during the Civil War.  The debased coins had to be melted down and replaced with totally new coinage.

Okay, so what do we with this new knowledge?  If Bank of America is to be believed, investors should buy gold and international stocks, located in countries that are debasing their own currencies slower than the United States.  How humiliating!  Geesch.

By George Blackburne

Throughout, history, we have experienced, a variety of economic conditions, and circumstances, including, recession, inflation, and somewhere, in – between! For a few years, we experienced, very – low inflation, largely, caused by a variety of conditions, world – wide, and largely, disrupted – by, the ramifications, and impacts, created and caused, by this horrific pandemic! Currently, we seem to be experiencing, a serious amount of inflation, created, by many factors, including, but, not, limited – to: post – pandemic ramifications; Supply and Demand issues, caused, to a large – degree, by, supply – chain, issues; maintaining, unrealistically – low, prolonged period of near – record – low, interest rates, etc. With, that in mind, this article will attempt to, briefly, examine, consider, review, and discuss, 6 potential dangers, from prolonged periods of inflation, and why, it is important to know, and understand, options and alternatives, to attempt to choose, the best – path – forward!

1. Cost of Living: Some factors, determining, the Cost of Living, include: wages (and wage growth); prices, etc, and how wages, are, or, aren’t able, to keep – up, with the increase in costs, etc! Most realize, we have, in the past – few months, experienced, a huge, jump, in pricing, most – apparent, in the food stores, restaurants, and, nearly, everything, related – to, day – to – day, existence, etc!

2. Federal Reserve: In recent times, the near – historic – low, extended period, of interest rates, has, in addition, to the intended measures (helping businesses, and the economy, in trying – times), has caused a Real Estate, Sellers Market, and, a huge rise, in home prices, in most parts of this country! In addition, it created a surge, in consumer use of credit, because, borrowing, appeared, cheaper! However, most economists forecast, many of these supports, and maintaining, such low rates, will, gradually, be reduced (or minimized), probably, beginning, next year. What impact will that have, and will we see, the historic reaction, which has been, when rates rise, it helps reduce inflation, etc?

3. National economy/ conditions: Largely, because of a world – wide, supply – chain, set of obstacles/ challenged, many industries, have experienced, challenges, in terms of, getting sufficient amounts of needed materials, etc! Go into, nearly, any store, and you will see, more – sparse, shelves, than we have seen, in recent memory! In addition, building supplies, products, food, toys, cars and car parts, etc, are under – stress, because of this!

4. Worldwide economies/ economic conditions: Nearly, every nation, is experiencing, economic issues and challenges! The United Kingdom, because of worldwide, as well as specific national trends/ causes/ conditions, has been largely, impacted! Since, we live, largely, in a global economy, when there is any disruption, in the supply – chain, it affects, everyone!

5. Stock and Bond Markets: Because of several reasons/ factors, the United States Stock Market, has benefited, significantly, and experienced, significant increases, in the price of stocks. In addition to the obvious ones, because, interest rates, have been, so low, many investors, believed, stocks, were, nearly, the only game – in – town! When, if, interest rates, rise, bond rates, will rise, and existing, bond prices, will adjust, and drop!

6. Immediate, intermediate, longer – term ramifications/ impacts: The immediate impact of inflation, is, usually, rising prices, and, wages, which, usually, rise, at a far – lower rate! In the intermediate – period, we begin to see, weakening economic trends, and in the longer – term, depending on how long, it ensues, there are often, several, undesirable ramifications, and impacts!

Don’t take inflation, and its risks, for – granted! The more you know, and understand, the better prepared, you will be!

Richard has owned businesses, been a COO, CEO, Director of Development, consultant, professionally run events, performed financial planning, consulted to thousands, and conducted personal development seminars, for 4 decades. Rich has written three books and thousands of articles. Website: http://plan2lead.net and JOIN the RICH IDEAS Facebook group: http://facebook.com/groups/RICHIDEAS

Article Source: https://EzineArticles.com/expert/Richard_Brody/492539

Article Source: http://EzineArticles.com/10530039

What are IBAN accounts?

IBAN or International Bank Account Number is basically having a global bank account. It is created internationally to identify the bank accounts across national borders and overseas countries. This is an important account because whenever you make an international payment, it is compulsory to have the IBAN. It contains both a bank account number and an identification code for the bank itself. As a matter of fact IBAN is a unique code that easily identifies a beneficiary’s bank account for the purpose, round the globe. It is not a new account number, only an ungraded version of digital system of your current account.

The IBAN consists of an alphabetical country code, which is followed by two digits, and then up to 35 characters of the bank account number. An IBAN is used to uniquely and properly identify or recognize a customer’s bank account across the world. Today, more than 54 countries are using IBAN accounts and mostly the counties of the European Union, UAE, Kuwait, Saudi Arabia, Germany and more are the participants.

Significant Features of using IBAN accounts

• An IBAN is a Straight Through Processing or STP of Electronic Payments system. This system minimizes delays and extra costs related to account numbers.
• The implementation of IBAN will bring more efficiency in the process of remittance related transactions. It serves to cut risk of transcription errors.
• The IBAN accounts facilitate with quicker processing of your funds transfer.
• Normally, banks are required the accuracy IBAN at the time of a fund transfer and they check only the IBAN is correct or not to make the funds transfer. This establishes the operation of funds transfer from one place of the world to another easier as well as more immediate. It is used for sending and receiving both local and international funds transfers.
• You don’t have to pay any additional charge while using IBAN, only you have to pay normal transaction processing fees.
• Now, it is easier for the IBAN customers to perform their funds transfer because of online banking facility. It reduces the monetary value and enhances the operational efficiency.

The Purpose of using International Bank Account Number or IBAN accounts
International Bank Account Number is essential for the purpose of receiving as well as sending an electronic payment from the bank. You can receive and send an electronic payment internationally or overseas and also locally, when you have a correct and accurate IBAN. If you want to send an electronic payment through IBAN to another country, it is possible only when that country has adopted IBAN facility. This means both the parties must have the International Bank Account Number or IBAN accounts to have successful fund transfer transactions.

The consequence of using improper IBAN
Due to any error or misunderstanding, you have given incorrect and forget to give the IBAN information, a certain amount of charge is applied by the receiving bank and your IMT may be rejected. The amount of charge will be deducted from your payment or else charge back. Thus, always check your IBAN properly before making fund transfer transaction.

If you wish to have an IBAN account, then go for it because it is easy to create and also a great help for fund transfer across the world smoothly.

 

Article Source: https://EzineArticles.com/expert/Dipali_Kumari/2559335

Article Source: http://EzineArticles.com/9985624

Surveys show that 94.7% of small business owners feel their only lending resources are local banks or personal credit cards. This common sense advice will help you avoid these common business loan mistakes, regardless of your personal credit history… and avoid pledging your personal property as collateral.

First of all, getting approved for a commercial loan is definitely easier than getting personal loans… regardless of your personal credit scores. Additionally, getting the right types of corporate credit is absolutely critical: if you want to protect your personal assets, minimize the risk of a personal lawsuit affecting your business, and to your ability to weather the economic changes that happen overnight.

All business owners must be much more proactive about developing relationships with the right types of lending institutions. You usually want to start your application process with out-of-state, national lenders… not your local or regional banking institutions. National lenders typically won’t require a personal guarantee or your social security number.

Follow this simple roadmap to obtain a small business startup loan, a business debt consolidation loan, a bad credit business loan, or a government business loan… although I strongly recommend that you find a commercial loan expert who can help you through the process of building a strong corporate credit rating.

Finding a competent business loan expert will give you a head start on your competition & also let you focus on running your day-to-day activities… instead of dealing with the hassles of establishing a strong business credit rating. An excellent business credit score can help your company’s image, overnight. And, finding a small business loan expert isn’t that difficult. You just need to know where to look.

Now… let’s get started… before you start applying for any business loans!

1. How is your business structured? Is it a sole proprietorship, C-corporation, S-Corporation, Limited-Liability Corporation (LLC), Partnership, or Trust?

2. How long has your business been recognized by your State & Local government?

3. Has your company ever had derogatory information reported against it to either of the two (2) most popular business credit reporting agencies, Dun & Bradstreet or Experian?

4. Are your commercial permits, licenses and registrations current?

5. Does your business have a physical address, or are you trying to use a U.S. Post Office Box instead?

6. Is your business telephone number recognized by directory assistance?

7. Are your incoming telephone calls professionally answered in your business name?

8. Have you established a business checking account?

9. Have you registered & asked for an Employer Identification Number (also known as an EIN) from the IRS?

If your answer to the first question was a sole proprietorship, partnership or trust; I urge you to re-establish your company as a corporation or LLC. I’m not going to provide you with legal advice, but many CPAs and attorneys highly recommend
LLCs (Limited Liability Corporations) as a way of protecting your personal assets & estate… in the event of any lawsuits being filed against your company.

As a sole proprietor, your personal assets are at direct risk of seizure or forfeiture when faced with most types of legal action. Additionally, if you are applying for business loans in a corporation’s name… most lending institutions will not require you to provide any personal guarantee!

A corporation can still face difficulties applying for business credit, if it has been in business less than two (2) years or had previous credit problems reported against it. Here are some ways to fix these problems.

– Purchasing a “shelf corporation” or “aged corporation” that’s been in good standing with your State government (for longer than 2 years) can drastically improve your chances for small business loan approval.

– You can attempt to repair your business credit rating by writing dispute letters to Experian or Dun & Bradstreet, which isn’t always possible.

– Some corporate credit experts will help you find, select & purchase an established “shelf” or “aged” corporation, some of which already have strong credit ratings established… saving you alot of hassles!

I cannot stress this enough… you MUST have a physical address (not a PO Box) if you want to establish a solid business credit rating. The same thing is said for telephone numbers & the way incoming phone calls are handled. Would you lend
money to a company that does not appear to have a physical address or documented telephone number?

And, don’t forget to always keep your commercial permits, licenses & registrations current… and always keep copies of these documents in case a potential lender asks for this information.

Business checking accounts are a must. Again, this proves stability to your potential lenders. Here are a couple of tips for you, in case you’ve had any checking accounts closed by a financial institution. Pay off the outstanding balance (if any) that’s being reported by the bank, or open a checking account at a bank or credit union that doesn’t use the ChexSystems credit reporting system. Most credit unions don’t use ChexSystems, and you can always find a list of banking institutions in your area that don’t use ChexSystems… by simply doing a search on Google, Yahoo or MSN.

Small business credit ratings are tracked using your business name, business address and employer identification number (EIN). You can apply for & receive an EIN at the IRS’s website (irs.gov). You can also call the IRS, but be prepared for long waits.

Then you’ll want to obtain a D-U-N-S number from Dun & Bradstreet, the largest business credit reporting agency. You can apply for this without any fees at Dun & Bradstreet’s website (dnb.com), and you’ll usually receive this number within
thirty (30) days. Do not apply for this number until you’ve prepared your self thoroughly, because any information you give to them… goes into your credit file… permanently.

After you’ve obtained your D-U-N-S number, you’re probably ready to start establishing some vendor credit. Vendor credit is where many business owners start establishing business credit ratings. Simply go to staples.com, officemax.com or officedepot.com to get started. Then, you’ll also need to fax your business telephone bill & the credit application to them… on your business letterhead (which you can create using your favorite word processing software if you don’t have expensive stationery). They usually don’t require any personal guarantees (if you’ve followed the outline above), and you’ll usually receive a starting credit line of $750.

This is critical & I repeat… critical! Always pay your invoices before the grace periods begin… especially on unsecured credit cards or vendor credit lines. Dun & Bradstreet will lower your credit score for every day a creditor reports your bill as unpaid while you’re within your grace period. Whereas, personal credit scores are not lowered unless you are 30+ days past your due date.

Dun & Bradstreet reports what’s known as a Paydex score (your corporate credit score), and a score of 80 is very good… with 100 being the highest score you can achieve. Your Paydex score is issued once you’ve established a known
vendor/credit relationship with at least five (5) creditors.

There are shortcuts that will help you get much more than $750 alot faster. When using a business credit expert, most small business owners (even startups) can be approved for vendor credit lines of $25,000-$50,000 and open credit lines of
$50,000, $250,000, $500,000 or more… in as little as 45-60 days… by using their knowledge of the application process & “shelf” corporations.

Now, it’s your choice. Are you going to go against the grain & try to establish business credit on your own (which could prove costly to your business health, growth & survival)? Or, will you choose to utilize a corporate credit expert… allowing you to remain focused on your daily business needs?

Most business owners make the mistake of trying to do this on their own… usually trying to find grants, investor “angel” money, or falling back onto the “personal credit card sword”. Don’t be a casualty like the rest. Learn more about how you can use the same tools that informed, educated millionaires have been using for decades.

By: Lee Kendrick

Author Bio
Lee Kendrick has been featured by several national magazines as a credit expert, finance professional & public speaker.

Register for his newsletter at http://leekendrick.net/credit-expert/ & discover how you can be approved for $250,000 or more in as little as 45-60 days regardless of your personal credit.

Article Source: http://www.ArticleGeek.com – Free Website Content

Small businesses are important parts of communities and a key driving factor of the current economic recovery. Modern technology and workplace trends are transforming how these organizations are run, not only to increase productivity, but expand the possibilities of the future.

New research found that the United States is home to 32.5 million small businesses employing 46.8% of the private workforce, according to the 2021 Small Business Profiles from the U.S. Small Business Administration. Combine small and medium-sized businesses, and you cover the vast majority of companies in the country — a powerful economic force.

“We see a bright future ahead for businesses in 2022,” said Eric Yu, Lenovo senior vice president, small and medium business segment. “Small to medium-sized businesses can utilize the best in technology to help overcome the challenges today and drive growth, engage employees and boost profits.”

Yu and the experts at Lenovo offer tips for SMBs based on their top technology predictions for 2022. Learn more at Lenovo.com.

1. Add hybrid workforce technology

Workplace culture continues to evolve with hybrid workforces here to stay. Technology is driving this momentum forward, enabling businesses of all sizes to remain agile and adaptable. SMBs should seek purpose-built technology solutions that bring equity, parity, presence and inclusion to hybrid work.

Emerging technology will also advance SMB growth, with augmented and virtual reality creating custom workplaces for employees, immersive training, efficient data analysis and enhanced productivity. Just imagine the possibilities of training employees virtually, tapping resources beyond what’s available locally and removing the need to travel. Technology makes this a reality.

2. Enhance digital security

Digital threats are as much a concern for SMBs as they are for large companies. Whether it’s private client data, proprietary company information or financial accounts, security must remain top of mind in 2022 as cybercriminals become savvier every day.

Prioritizing security with seamless authentication driven by artificial intelligence and biometric technology (such as fingerprint scans) will be key for SMBs as they further transition to public key infrastructure (PKI)-based device security, like those used today to access mobile banking applications, and multifactor authentication, for application and device access.

LOGON NOW!

3. Invest in modern monitors

The desktop monitors SMB employees use can transform their work experience for increased comfort and capabilities. Investing in modern monitors makes sense, especially for remote employees and those in technology roles. For example, SMB employees can seamlessly multitask through modern desktop monitors that offer larger screen real estate and single cable management for easy connections.

What makes these monitors different? Next-generation monitors feature higher resolution, new aspect ratios such as ultra-wide and low blue light tech to reduce eye strain. Monitors will extend functionality for SMB employees as they can provide a docking hub for connection of other devices such as smartphones, speakers, headphones and tablets.

4. Upgrade your accessory ecosystem

Beyond modern monitors, other aspects of home office technology are transforming, too. Creating an up-to-date and efficient workspace at home is important for productivity but also for personal well-being. Providing employees with complementary tools that bridge the gap between home and office will elevate the experience and empower hybrid working trends.

When researching new accessories for SMB employees, consider the most common pain points of power anxiety, poor audio quality and physical stresses of inappropriate input devices resulting from longer working hours. Power banks, noise-canceling headphones certified for unified communications platforms and ergonomic mice and keyboards will become more mainstream in 2022, allowing teams at SMBs to improve their work-from-anywhere capabilities and productivity.

5. Support agility and flexibility

The growth of hybrid and remote workplaces has elevated the need for work tools that allow employees to work when and where they want. Evolving form factors and better connectivity will become more ubiquitous, allowing SMB employees to set up shop almost anywhere. This flexibility can add strain to IT resources, and impact business capital expense.

SMBs need to consider as-a-service subscription-based models, not just for hardware but to support their solution lifecycle. Successful businesses will embrace this trend and seek vendors with end-to-end capabilities to securely deploy to remote users, offer hardware and software managed services and provide end-user tech support. As-a-service solutions reduce pressure on capital, allowing SMBs to redirect investment into new growth opportunities.

(BPT)