How To Train For Cycling Around A Working Week

Finding it hard to fit cycling training around a working week?

The solution is to take a quality approach to cycling training. This means taking a “less is more approach” to workouts so you see similar fitness improvements, but with less overall training. To follow through with ‘quality training’ to get workouts completed, you need to be flexible as to how and when you train.

Follow these 5 tips below to ensure you’re taking a flexible approach to all your training when trying to fit it around a busy working week:

Tip 1 – Reduce training to 3-4 times a week

Riding less frequently does not mean a loss in fitness. In fact, in many cases you gain fitness, because you allow your body adequate recovery between sessions. Not only this, but training 3 or 4 times a week is easier to maintain when busy than trying to tear yourself apart squeezing workouts in every day of the week. You effectively become more consistent with training from week to week which is one key criteria to faster cycling later on in the year.

Tip 2 – Recover from all your rides

Recovery is often overlooked in a cycling training programme, yet it’s recovery that gets us fitter – not the workout! Know that when you have a busy work schedule your body adds together all your daily stressors, not just your training.

Unlike the professional cyclist who is full time and has full time to recover and do nothing else, you have to recover from other parts of your busy schedule. To get the most out of your fitness then, you should build in recovery days.

Once you start building recovery into a working week, you might be surprised how fresh your training rides start to feel. In addition to this, you’ll also notice you have more time to attend to more urgent work matters, or find you have more time to relax and unwind with family and friends.

Tip 3 – Be flexible on which days you train

Try not to follow a fixed daily schedule for your cycling training. As a cyclist it’s impossible to know which days it’s going to rain, which days you have to stay late at the office etc., so you end up missing scheduled workouts.

What’s more efficient is to choose the type of cycling you’re going to do versus your situation. For example if it’s raining you have two options: 1 move the workout until the next day. 2. Get on the turbo (indoor cycling).

As long as you get your 3 or 4 workouts completed, it really doesn’t matter which days you train on during the week. Just remember to build in adequate recovery after training a few days in a row.

Tip 4 – Learn to commute to work

Commuting to work is an excellent way to build cycling fitness. If you’re ready to give this a go but don’t know where to start, please visit my cycling blog – link is below in resource box.

One example here is to take advantage of carrying things to and from work, either via panniers or in a backpack. The extra weight does wonders for your cycling strength, especially if you choose a hilly commute!

Tip 5 – Get a turbo trainer

A turbo trainer is an excellent investment when you’re busy. If you can’t make a ride to work, or it’s snowing, you can jump on the turbo for an excellent quality workout. As long as you do one good road ride a week outside, you can get very fit with a turbo – so don’t underestimate its value.

You can also use the turbo as extra training on top of commuting. For example, if you have a short commute and need to add time in the saddle during the week, the turbo is a great way to obtain this.

Final words

So there are really no excuses to getting good rides in during a busy week. As I’ve said, as long as you are consistent from week to week and take a quality approach to training, you’ll be building an excellent base on which to then build faster or longer workouts once the weather picks up later in the year.

The History of Business Week Magazine

Business Week is a magazine that is currently published under the name Bloomberg Businessweek, after a recent merger, and is a publication that is familiar to many people, having been coming to homes and businesses weekly since 1929. Bloomberg Businessweek was first published in September of 1929, just a few weeks before the stock market crashed and now, has a circulation of nearly a million, and competes with the only other major business magazine available on the market – Forbes Magazine, a bi-weekly business publication.

When BusinessWeek first began, they covered marketing and finance, labor and management, but were the first of the time to begin reporting on political issues that affected American businessmen. The magazine also published a list of executives and the pay that they receive, a tradition that started in 1950. While Forbes and Bloomberg Businessweek compete for readership among businessmen and women and those interested in the financial world, BusinessWeek concentrates much more heavily on the economy than Forbes does, and in fact, published a thermometer on the cover from the 1930′s to 1961 that gauged how well the economy of the United States was doing.

BusinessWeek has had trouble itself in the recent economy due to a lack of advertising with print magazine sale revenues being cut in half. Previously $120 million to around $60 million in the last few years, and the move to the digital form hasn’t had the effect the editors had hoped either, with the current online revenues only approaching around $20 and a half million. In 2009, reports began to appear with the news that McGraw-Hill was interested in selling BusinessWeek. They hired Evercore Partners to handle the sale, and a common suggestion at the time was that they might sell the magazine for a dollar because of all the liabilities the publication had.

Bloomberg announced that it had acquired the magazine on October 13th, 2009, and while the figure was reported to be around $5 million dollars, but the actual sale price wasn’t disclosed. December 1st, 2009, the deal was closed and the name Bloomberg was added to the magazine’s cover.

Small Business Weekly – How to Plan Your Business

Every business big or small has to plan how to operate the business to ensure that your business succeeds. When you have a plan, it is always easier to manage your business and see problems before they actually arise. A business plan gives you a contingency plan that can be a life saver in the long run. You can choose to do this weekly, twice weekly or even monthly. It is always a good idea to discipline yourself to have a small business plan on a weekly basis.

When you are organizing your business on a weekly basis, it is a viable idea to have a meeting with your employees. In this briefing, you can analyze the business based on the previous week and it will be easier for you to correct or improve on any shortcomings in the current one. In addition you can easily organize how your employees will work especially if one of them will be unavailable. This will ensure the smooth running of the business.

It is also essential that the small business owner organize the financial aspect of his or her business every week. This means gaining access to the bills to be paid, the priority, the amounts to be allocated to each etc. It will make easier for you to make payments without delays. You will appear to be a reliable small business owner when you have a consistent pattern especially in the eyes of your debtors.

When you organize your small business on a weekly basis you will be in a position to see the progress of your business. You will be able to analyze which part of the business is weak and needs improving. This will give you a chance to make changes before the month is over. Planning and strategizing your business in this manner will always give you a hands-on approach on your small business.

How to Build an Online Business With LinkedIn Ads

LinkedIn is considered to be the most professional social networking site that even has access to the professional industry. Along with creating a LinkedIn profile for yourself, explore the LinkedIn ads for increasing the traffic on your website to promote the business. These ads are the best way to reduce the ad costs, thus increasing the profitability.

The edge LinkedIn is going to have is that they are launching their own ad network site soon, which would give a boom to all those companies and their advertising associated with LinkedIn ads. This site would be targeting the industry, company, gender, seniority, geography, and other connections. This will be much like Facebook ads in which you can direct your advertisements towards the specific demographics your target.

There is more you can do to your business with the help of LinkedIn ads:

1) Through LinkedIn ads, your online business could become the target of the most influential professionals and audiences of interest.

2) Before launching yourself, prepare an actionable and descriptive ad copy.

3) LinkedIn displays the ads in the most premium and highlighted locations which will prove very beneficial for your business as it would gain the attraction of millions of active users around.

4) Other social networks have not been able to work that well as LinkedIn ads. It offers the cost per impression of $30 which increases to $76.50. In case of text ads, the cost per impression ranges between $12 to $20.

5) Now, along with LinkedIn ads individual site, it will sign up with its existing partners like CNBC, New York Times and Business week which would give more exposure to your business.

LinkedIn ads are sure the best way to advertise and market your business, as it has the ability to capture the major target market and professionals which would be beneficial for your business by the end. And now that the LinkedIn network would have its separate site for advertisement, it would be like a jackpot for the online business holders. So just click, link and there you go in!

If you are out to attract prospective customers and develop your online presence and exposure, you owe it to yourself and the financial future of your business to learn everything you can about Internet marketing.

Want to learn more Internet marketing techniques on how to build a successful businesses online?

10 Practical Tips to Help You Build a Successful Coaching Business

Building a coaching business is tough. Coaching is a hard sell. The reality of building a coaching business (and any business) is often not what people envisaged when they decided to start out on their own.

I have grown my company from zero income & a blank laptop working at home in 2006 to 23 coaches & consultants providing services to NSW Government & large corporate entities, with no cash other than my own organic growth. These are some lessons I’ve learned along the way.

Why did you become a coach & start a coaching business?

When I asked that question to 60+ coaches when I presented at a recent ICF event, I got the usual plethora of “to help people”; “to make a difference”: “I’m passionate about coaching”; “fed up with the corporate world & wanted to do something I believe in”, “because coaching is amazing”; “I was fed up working for muppet managers” or similar responses. In my experience, the extremely large majority of coaches will say something similar.

In reality, many coaches struggle to make enough even to pay the bills, let alone earn a decent living. According to the ICF 2012 Global Coaching Study, the median annual coach’s income in Oceania is US$36,700. Many coaches end up having to supplement their income – or worse, go back & work for another muppet manager!

First: why did I start a coaching business? All of the above, of course – that goes almost without saying. Especially the muppet manager bit, I’ve had far too many of those (I hope they’re reading this!).

However, my primary reason? To make money. My strongest motivator is my need to make sure my business pays me an income & security to support my family, our lifestyle & our future (I have a 3 ½ -year old & a 15-month old). US$36,700 will not do that.

1. Think primarily like a business, not a coach.

If you don’t have the attitude that you are in business to make money, it is extremely unlikely to happen. You know this as a coach – if you don’t have that as a goal, how can you achieve it?

Look at the numbers. To earn $100,000 p.a. give or take you need to earn approx $133,000 to cover your wages & business expenses. That equates to income of $3,023/week (44 working weeks: 4 weeks holidays, 2 weeks over Christmas, a week of Public Holidays, a week sick/miscellaneous, etc. And that’s being conservative!

Translate that to hours worked. It equals: $75.57/hour every hour for coaching 40 hours/week = $151.14/hour for coaching 20 hours = $302.27 for 10 hours = $604.55/hour for 5 hours = $453.41/hour for 7.5 hours/week. 7.5 hours per week? Sounds easy, doesn’t it?

However, comma. How often does your diary have 7 lovely hours of coaching in one day? Not very often!

A more realistic business week involves coaching spread over the week, hours of travel time, preparation for & debrief from coaching, emails, proposal writing, marketing & sales meetings, invoicing, networking functions, phone calls, more emails, sorting IT issues, time on hold to your phone/internet provider, etc. Most people forget these entire ancillary – but absolutely business essential – tasks.

So, you’re now likely questioning: “how the hell am I supposed to make money if that’s the reality?”

2. Time Management – Get focussed.

Do it religiously & be utterly RUTHLESS. Set up processes. Outsource. Your time is literally your money. Every hour is potentially worth $453.41+ – if you waste 15 minutes, you are losing $113.35! Would you throw away $113.35? Learning time management skills was one of the most valuable things I did.

Ask yourself: “is this time I’m spending worth $453.41/hour?” I used to spend 5+ hours a month doing my books/BAS, etc. My bookkeeper does it in 5 hours a quarter. That’s 10 hours per quarter I have back to do more important things.

3. Charge for your time. Charge what you are worth.

Charge what you need to make the money you want to make (within what the market will bear, of course!). If you charge $200/hour, & do two free sessions, how much money will you make? Not enough is likely to be the answer!

If you coach 7.5 hours a week & need to make $100k in your pocket, you need to charge no less than $453.41/hour. Your time is money. Every minute is precious: charge for it whenever you can.

4. Believe in what you do.

You are a professional. You have a right to be there. Believe that you deserve to get paid a decent wage for it! If you don’t believe all of that, why would a client?

We all start somewhere – I started off coaching for free, then charging $50/hour, then built it up from there to pay myself $92,000 in my first year. If I’d believed more early on, I’d have paid myself a lot more. Of course, confidence can take time to build – the important thing is you make sure you’re focussed on building it.

5. The ‘S Word’.

It often invokes fear & strikes dread into the hearts of many idealistic coaches desperate to “make a difference”. I’m talking SALES. Selling.

Like it or not, even if you have exceptionally well-established networks and the most amazing website on the planet, you will still have to sell – and sell yourself. You are a salesperson first & a coach second. Accept it. If you can’t sell yourself, you won’t get to do much coaching.

Sales is 99% perspiration, 1% inspiration. There is no single magic formula. There are all sorts of methodologies you can learn of course, but none of them are effective unless you get off your backside & put in the hard yakka.

We’re in the trust business. No matter how hard it is, make those uncomfortable follow up phone calls, put some shoe leather on the road & get your face in front of people. Then ask for the business. Follow up – people are busy, they often need a nudge. If you get knocked down, get back up again! It’s not personal, it’s just business. You expect your clients to do all of this, right? Take some of your own medicine.

6. Use your coaching skills to sell.

Your coaching skills are extremely powerful sales tools. Yes, really. If more sales people were trained as coaches, they’d be a lot more successful. Use your coaching skills to listen & delve into what people need. That’s really the core of sales.

However, you still have to ask for the business. And you still have to get off your butt & get out & meet people in the first place. There are no short cuts for that: “Nike it” – just do it!

7. Don’t waste your time trying to teach people how fantastic coaching is.

If you have to teach people what coaching is, you’re usually wasting your [very valuable] time. Walk away. It took me quite a while to work that out, but when I did it was a real relief & my business grew more. 2 hours spent teaching someone about coaching, is potentially $906 lost. Sell to people who know what coaching can do.

8. Lose the warm, fluffy coaching language.

Use the client’s professional business language, not coaching speak, especially with organisational & business clients. Challenge thinking, yes! But talking about ‘spiritual journeys’ for example, although you may be very right the CEO needs to go on one, is rarely going to get you the gig to coach their hard-nosed CFO! Talk for success. And dress for success.

9. You are a not selling coaching.

You are not selling that you are a coach – the fact that you’re a coach is a given. You are selling a solution, and you are selling your experience & expertise. That’s what I’ve found clients pay for.

You may have left the e.g. IT industry to find a new path, and yes, you may be able to coach in any industry, but the reality is clients want – and pay for your IT industry expertise, so you’re probably best placed to at least start coaching in it & then branch out from there.

10. Be flexible & adapt your coaching style.

Coaching in the real world is rarely the pure coaching you were taught on your coaching course. Certainly not when you’re selling yourself, & especially if you’re selling to organisational & business clients. You can coach like that when you get there, of course. But clients rarely understand. In reality when a client says “coaching”, what they mean is a combination of coaching, mentoring, consulting, expert advisor, etc.

So remember:

1. Think like a business.

2. Ruthlessly manage your time.

3. Charge what you’re worth.

4. Believe in what you’re worth.

5. Sell. You are a sales person first, a coach second.

6. Use your coaching skills to sell.

7. Don’t waste your time trying to teach people about coaching.

8. Lose the warm, fluffy coaching language. Talk for success, dress for success.

9. You are selling a solution, and you are selling your experience & expertise.

10. Coaching in the real world is rarely just coaching. Use your experience, adapt your style.
Some inspiration to help you on the way:

“Think progress, not perfection. The lessons learnt on the journey are usually needed to help you arrive at the destination” Simon Smith

“Vision without execution is just hallucination” Thomas Edison.

Business Finance Training and Effective Business Solutions

Business finance training refers to programs that teach individuals how to handle various financial duties. Finance training is similar to finance tips in that both help business owners make better monetary decisions, but training programs offer a more detailed explanation of finance strategies. Training programs vary in price and can be used by the owners and employees of a business.

The most basic business finance training provide information on budgeting, preparing financial statements, managing cash flow, strategizing, forecasting, improving performance, and applying basic procedures and concepts to more effectively manage a business. These programs are recommended for new business owners to help them understand standard business practices. Once these basic methods are mastered, more specific financial training may be looked into.

Advanced business finance training delves more deeply into a certain financial procedure or concept, usually at a higher cost than basic programs. Advanced programs may teach business owners how to set up effective business models, make decisions based on quantitative analysis, manage and control accounts, practice due diligence, measure productivity, and strategize concerning mergers and acquisitions.

Taking part in any kind of business finance training gives a business owner the resources to make more intelligent business decisions that result in increased productivity and profits. Many different types of courses are available either online or at a specified location. Some programs may even offer the option to train at the business. Taking into consideration the needs and abilities of a business is the key to finding the best business finance training.

A business finance solution generally refers to methods of funding and maintaining the finances of a business. Most solutions involve ways of obtaining working capital, but others also offer ways of protecting and increasing that capital.

To obtain working capital, business owners look to finance solutions that offer funding by several different means. The most common means are loans and financing. Asset-based loans use a business’s assets, such as inventory and equipment, as collateral. A business may also opt for a property loan in order to acquire commercial space. Invoice financing, such as factoring, involves liquidating or selling a business’s accounts receivables in exchange for quick funding. Some businesses look to trade financing to supply their inventory. The business will tell its financer the amount and cost of goods needed, and the financer will pay for the goods. The business then repays the amount financed over a specified period of time.

Most companies that provide business finance solutions also offer ways to protect and increase a business’s capital. Credit protection safeguards a business from daily risks, such as customers not paying on time, so that the business does not suffer incredible losses. This makes it much easier for the business to borrow money in the future, and it protects the balance sheet. A finance solution may also offer business insurance plans that increase the stability of a business. The most common types of business insurance are employee and public liability, car, property, and health insurance. These business finance solutions are designed to protect businesses against potential losses.

Functions of Business Finance

Strength and soundness of business depends on the availability of finance and competency with which it is used. The abundance of finance can do wonders and its scarcity can ruin even a well established business. Finance increases the strength and viability of business. It increases the resistance capacity of a business to face losses and economic depression. It is just like a lubricant, the more it is applied to the business, the quickly the business will move. Following headings explain the importance of finance to business:

(1) Initiating Business: Finance is the first and fore most requirement of every business. It is the starting point of every business, industrial project etc. Whether you start a sole proprietary concern, a partnership firm, a company or a charity institution, you need ample amount of finance. It is equally important for profit seeking and non-profit activities. It is equally important for a multinational organization and for a free dispensary.

(2) Purchase of Assets: Finance is needed to purchase all sorts of assets. Even if credit is available some down payment is to be made. Mostly finance is needed at the start of business for the purchase of fixed assets. These fixed assets consume a large amount of initial investment of the entrepreneur, so he may face liquidity difficulty in running day to day affairs of the business.

(3) Initial Losses: No business attains high profit on the first day of commencement. Some losses are normal before the business reaches its full capacity and generate enough revenue to match cost. Finance is necessary so that these initial losses can be sustained and business can be allowed to progress gradually.

(4) Professional Services: Certain business need services of specialized personnel. Such personnel have rich experience in specialized fields and they can provide useful guidance to make business profitable. Nevertheless these services are costly. Finance is always needed so that services of such professional consultants can be hired.

(5) Development: Business is always exposed to change. New innovations and emergence of new technologies replaces old techniques out of market. So in order to remain in the market, it is needed to keep the business well equipped with all emerging tools and techniques. This required finance. New technology is always expensive as it is better than others. So finance is needed to purchase new equipment and keep the business running.

(6) Information Technology: Information technology has now changed the geography of the business battle field. The home markets have now extended virtually to other comers of the world. The whole world can be your customer or competitor. To face such a fierce competition, IT is needed. Skills and competency in IT can perform miracles. But finance is again the decisive factor. It is very much needed to incorporate expensive IT products in the business.

(7) Media War: The advertisement and promotion have now become a vital elements for the success of business. The way a businessman approaches a customer and convinces him to purchase his product has become more important than the quality of product. With advertisement on International media, a businessman can reach the minds of millions of people around the globe. However, advertisement is a luxury which every business can’t afford. Huge finance is required to meet advertisement expenses.

(8) Resource Management: Finance is very essential for efficient resource management. Resources here include capital and human resources. Maintenance of plant and equipment and training of employees all need finance. Establishment of new industrial units, expansion of plant capacity, hiring of well learned skilful laborers – all
these factors can lead to huge revenue but at the first place they need finance to start with.

(9) Stock Investments: These investments are those which are made to hold ample stock of raw materials in hand. Bulk purchase of raw materials is profitable in a sense that purchase discount can be attained and there is no danger of production halts. So companies most often hold huge amount of stocks and raw materials. But such an investment can be made only if a company has sufficient capital or finance to carry out its daily operation easily besides holding huge stock.

(10) Combating Risks: Everything is exposed to one or more risks. A business is also exposed to variety of risks. These risks include natural hazards, burden of any huge liability, loss of market or brand name etc. Finance is needed to make business powerful, so that it can sustain occasional losses and liabilities.

The Primary Cause Of Business Financing Frustration

Finding proper business financing is not easy at the best of times for most small and medium sized business owners and managers.

There are a number of reasons that collectively explain why the business financing market can be so difficult to understand and navigate.

But probably the single biggest reason is the lack of useful information about how the business financing market actually works.

Business financing information and education sources predominantly come in two forms: 1) Text books; 2) Major bank advertising.

If you’ve ever read through a educational finance text book or taken a business financing course, you already know how difficult it can be to apply the theories, principles, and strategies to a small or medium sized business.

Our formal education system provides limited information as to how the market place works, how to plan for financing requirements, how to manage periods of growth, decline, transition, start up, etc.

Sure academic books and courses can go through all these areas in great detail, but is the information practical, real world, something you can relate to and apply yourself as a manager or owner of a small or medium sized business?

In most cases, the answer is a resounding NO.

Most finance text books speak to big business financing dynamics that are not easily transferable to small and medium sized business scenarios.

Outside of the formal education system, the next great source of business financing information is the information provided by the major banks, which they tend to make available to you by the boat load through their broad based marketing campaigns.

Unfortunately, the information by itself seldom helps you determine if a particular institution would be able to provide you with financing, or what would be required to qualify for a loan.

The good news is that business financing sources continue to grow in numbers as more and more lenders carve out a particular piece of the market to service.

In order to take advantage of these alternatives, you need to have a solid approach in place when seeking business financing.

Here’s a short list of things to consider

>>> Develop a solid, ongoing, understanding of both your personal and business assets, income, and cash flow.

Regardless of the business financing model, these elements will always come into play to some degree.

Being able to demonstrate a solid understanding of your business financials is also an indication of your ability to manage the underlying business.

>>> Monitor and manage your personal and business credit.

Small and medium sized business financing is focused on both personal and business credit histories.

Regular reviews of both personal and business credit reports from the major credit reporting agencies are important to avoid errors and credit practices that can severely damage your borrowing power.

>>> Develop your marketing position.

Yes, seeking business financing is a marketing exercise.

When applying for business financing, you’re marketing your business to lending sources and they in turn are marketing their business financing programs to you.

Think of the lender as a customer to better understand what they’re looking for. Then, develop a business proposal that addresses all their potential needs and concerns.

>>> Research Lending Sources

There are lots of business financing sources. But there is also lots of variation in the types of business applications each one is prepared to consider.

Broad based lenders rely on credit history and net worth. As you get more specific in terms of financing application and industry, lender programs become more narrow and can be harder to locate.

You need to consider things like industry, sector, and geography when looking for business financing sources.

Financing consultants and business loan brokers can be an excellent source of information to aid you in this process.

>>> Qualify The Lender

Before you make a formal application, find out if the lender has the programs and lending track record to meet your specific needs.

Too often, the lender is doing all the qualifying.

>>> Compare your options

Depending on the scenario, there can be several financing strategies that could work for your business.

Make sure you take the time to compare before making a decision. The extra time spent could save you considerable time and money in the long run.

>>> Start Today

Regardless of what your business financing needs are right now, you should regularly invest time staying on top of your business financials, monitoring your credit, and researching financing sources that fit your industry and potential future requirements.

When the time comes to acquire capital, your proactive efforts can make all the difference in getting the capital you need with terms and timing that are acceptable to your business.

Business Finance Funding Advice and Commercial Financing Help

The Working Capital Journal is one of several commercial financing resources which should be reviewed regularly by small business owners to assist in keeping up with the imposing difficulties posed by rapid changes in the business finance funding climate. As noted below, there have been some surprising actions taken by lenders as a direct result of recent financial uncertainties. The increasingly complex and confusing environment for working capital finance is likely to produce several unexpected challenges for commercial borrowers.

The working capital finance industry has primarily been operating on a regional and local basis for many years. In response to cost-cutting that has permeated many industries, there has been a consolidation that has resulted in fewer effective commercial lenders throughout the United States. Most business owners have been understandably confused about what this might mean for the future of their commercial financing efforts, especially because this has happened in a relatively short period of time.

Of course, for some time there have been ongoing complex problems for commercial borrowers to avoid when seeking commercial loans. But what has produced a new set of business finance funding problems is that we appear to be entering a period which will be characterized by even more uncertainties in the economy. Previous rules and standards for commercial financing and working capital finance are likely to increasingly change quickly, with little advance notice by business lenders.

Business owners should make an extended effort to understand what is happening and what to do about it due to this realization that substantial changes are likely throughout the United States in the near future for commercial finance funding. At the forefront of these efforts should be a review of what actions commercial lenders have already taken in recent months. The Working Capital Journal is one prominent example of a free public resource that will facilitate a better understanding of the responses by business lenders to recent economic circumstances.

By publicizing actions taken by commercial lenders, this will contribute to these two goals, both of which are likely to be helpful to typical business owners: (1) To highlight controversial bank-lender tactics with a view toward reducing or eliminating questionable lending practices. (2) To help business owners prepare for commercial finance funding changes. To assist in this effort, sources such as The Working Capital Journal are encouraging business owners to report and describe their own experiences so that they can be shared with a broader audience that might benefit from the information. Some of the most significant commercial financing changes reported so far by commercial borrowers involve working capital loans, commercial construction financing and credit card financing. A notable situation of concern is that predatory lending practices by credit card issuers have been reported by many business owners. Some specific businesses such as restaurants are having an especially difficult time in surviving recently because they have been excluded from obtaining any new business financing by many banks.

One of the few recent bright spots in business finance funding, as noted in The Working Capital Journal, has been the continuing ability of business owners to obtain working capital quickly by business cash advance programs. For most businesses accepting credit cards, this commercial financing approach should be actively considered. Business cash advances are literally saving the day for many small business owners because most banks appear to be doing a terrible job of providing commercial loans and other working capital finance help in the midst of recent financial and economic uncertainties. For example, as noted above, restaurants are virtually unable to currently obtain commercial finance funding from most banks. Fortunately, restaurants accepting credit cards are in a good position to obtain needed cash from credit card receivables financing and merchant cash advances.

Small Business Finance Success Improves With Realistic Options

The goal of being realistic when seeking new commercial loans and working capital financing will help commercial borrowers avoid a number of commercial finance problems. With proper preparation business owners should be in a better position to obtain new financing despite the difficult challenges impacting most working capital loans and small business financing. Nevertheless it should be anticipated that terms of financing will be different from prior commercial financing. Because of recent commercial lending difficulties, business owners actively assessing the most effective options for their small business finance decisions are likely to find the smoothest path to business loan success.

In view of volatile conditions which have recently impacted credit markets, this will not be a simple task. A very common example of the problem is illustrated by how much misinformation and confusion there has been about business financing and working capital availability. Getting more accurate information about what is realistically possible can be one of the most difficult challenges for commercial borrowers.

When seeking to identify realistic choices in a confusing working capital management climate, a number of harsh realities must be confronted by all small business owners. For most current commercial financing decisions by business owners, there are several major factors to anticipate. In the first example, additional small business loan collateral is being requested by most commercial lenders. Second, many regional and local banks have discontinued lending for business financing and working capital. In a third example, businesses which are not currently profitable or not current in their debt payments will have extensive difficulties. Fourth, business construction funding currently is very limited in most areas. In a fifth example, lenders are eliminating unsecured business lines of credit for most small business owners.

Despite the new business financing limitations just noted, there are practical working capital options for small business owners to consider. An increasingly effective commercial financing option in the midst of an uncertain economy is a merchant cash advance program based on credit card processing activity. Even though this commercial funding option has been available for a few years, it has not been used by most small businesses. For most businesses which accept credit cards, merchant cash advances should be evaluated as an important tool for improving business cash flow. Small business owners wanting to pursue this financing option should consult a business financing expert who is knowledgeable about this working capital management approach as well as other small business loans.

Even though working capital loans are not as widely available as they were just a few months ago, this kind of small business financing is still in fact obtainable. Since some of the largest providers have stopped making these business loans, the main change for business borrowers is the likelihood that they will be dealing with a different commercial lender. Small business owners will benefit from finding an experienced and candid business financing expert to assist in evaluating realistic options because the most effective working capital financing providers are not aggressively marketing this capability.

As stressed above, when making commercial financing decisions it is becoming increasingly important for business owners to first determine their effective business finance funding options. Because of recent volatility in financial markets, this task is likely to be much more difficult than most commercial borrowers realize. It is advisable to explore commercial finance options that might be necessary if economic conditions change even further even for business owners who are satisfied with their current working capital financing arrangements. The use of Plan B contingency financing is an important tool to assist commercial borrowers in this process.