Why Blog? Do you like to eat?Kidding aside, here’s why leveraging your product or service with a great blog is the easiest way to build your following. You want your clients to get to know you so they know what you are selling. Competition is raging in nearly every field as thousands of people displaced from their careers are giving online business a try.As a small business owner, coach or author you have to do things differently to be noticed. That is old news. What’s new is that you have to be even more client savvy than ever before. People are being awfully careful about hitting that buy button.As John Hiler of Microcontent News says, “Just log onto the web and you’re in the Blogosphere. Geography has become irrelevant. The Blogosphere is increasingly global, and as more and more countries come online, it will become even more so.The Blogosphere is nearly free–both for bloggers and for readers. For less than the price of a cup of coffee, you can take part in the global conversation with some of the smartest and most informed people on the planet. What are you waiting for.”1. Google LOVES Blogs: Blogs are dynamic websites. Adding content every week is what makes the site get Google’s attention and gets it ranked closer to the first page.. Traditional websites are static. New material is not added every week and so even though they may be beautiful, they are not as attractive to Google.2. Your clients use Google and they are typing something into the search window that could be pointing to you. If you have enough presence on-line and they can find you! The more pages you have on line, the higher your internet presence is recognized by Google.Each blog entry is a page and you have complete control of when and how often those pages are published, you don’t have to have a web designer publish for you. (Awesome for all the control freaks out there, just sayin’)Blog Angel Tip: Don’t over do it though, two a week is considered polite in cyber-land, if you slam with 4 a week, it is considered rude and you never want to be perceived as rude on-line, it’s a neighborhood after all.3. Do you really need a number 3?Blogging is simply having a pen pal relationship with your clients or customers. The key is to have an easy format for posting. I use WordPress and have since I wrote my first blog in 2007. Once you open the door, your followers will come right in and they will let you know what they are looking for. Seriously. Nearly all of my list building is done through my blog.My blog tells me exactly what people type into the Google search window that brought them to my site. Then I write articles with that very issue, sometimes the exact question that was searched. (Google: “I Just Had Ex Sex. Now What?” and you’ll see what I mean.)I operate my entire business from a blogsite. I have a separate site for the LOAinLoveClub.com I work at getting two blogs posted a week. Some weeks I make it, some I don’t. I also send notices through Facebook and Twitter whenever I post a new blog. I have met the best people this way…clients, colleagues and mentors.If your blog experience hasn’t been fun for you, yet…. please don’t give up! It is possible to learn a few basic skills and be enjoying your blog time in no time! If I can do it…you can do it too!
Alternative Financing Vs. Venture Capital: Which Option Is Best for Boosting Working Capital?
There are several potential financing options available to cash-strapped businesses that need a healthy dose of working capital. A bank loan or line of credit is often the first option that owners think of – and for businesses that qualify, this may be the best option.
In today’s uncertain business, economic and regulatory environment, qualifying for a bank loan can be difficult – especially for start-up companies and those that have experienced any type of financial difficulty. Sometimes, owners of businesses that don’t qualify for a bank loan decide that seeking venture capital or bringing on equity investors are other viable options.
But are they really? While there are some potential benefits to bringing venture capital and so-called “angel” investors into your business, there are drawbacks as well. Unfortunately, owners sometimes don’t think about these drawbacks until the ink has dried on a contract with a venture capitalist or angel investor – and it’s too late to back out of the deal.
Different Types of Financing
One problem with bringing in equity investors to help provide a working capital boost is that working capital and equity are really two different types of financing.
Working capital – or the money that is used to pay business expenses incurred during the time lag until cash from sales (or accounts receivable) is collected – is short-term in nature, so it should be financed via a short-term financing tool. Equity, however, should generally be used to finance rapid growth, business expansion, acquisitions or the purchase of long-term assets, which are defined as assets that are repaid over more than one 12-month business cycle.
But the biggest drawback to bringing equity investors into your business is a potential loss of control. When you sell equity (or shares) in your business to venture capitalists or angels, you are giving up a percentage of ownership in your business, and you may be doing so at an inopportune time. With this dilution of ownership most often comes a loss of control over some or all of the most important business decisions that must be made.
Sometimes, owners are enticed to sell equity by the fact that there is little (if any) out-of-pocket expense. Unlike debt financing, you don’t usually pay interest with equity financing. The equity investor gains its return via the ownership stake gained in your business. But the long-term “cost” of selling equity is always much higher than the short-term cost of debt, in terms of both actual cash cost as well as soft costs like the loss of control and stewardship of your company and the potential future value of the ownership shares that are sold.
Alternative Financing Solutions
But what if your business needs working capital and you don’t qualify for a bank loan or line of credit? Alternative financing solutions are often appropriate for injecting working capital into businesses in this situation. Three of the most common types of alternative financing used by such businesses are:
1. Full-Service Factoring – Businesses sell outstanding accounts receivable on an ongoing basis to a commercial finance (or factoring) company at a discount. The factoring company then manages the receivable until it is paid. Factoring is a well-established and accepted method of temporary alternative finance that is especially well-suited for rapidly growing companies and those with customer concentrations.
2. Accounts Receivable (A/R) Financing – A/R financing is an ideal solution for companies that are not yet bankable but have a stable financial condition and a more diverse customer base. Here, the business provides details on all accounts receivable and pledges those assets as collateral. The proceeds of those receivables are sent to a lockbox while the finance company calculates a borrowing base to determine the amount the company can borrow. When the borrower needs money, it makes an advance request and the finance company advances money using a percentage of the accounts receivable.
3. Asset-Based Lending (ABL) – This is a credit facility secured by all of a company’s assets, which may include A/R, equipment and inventory. Unlike with factoring, the business continues to manage and collect its own receivables and submits collateral reports on an ongoing basis to the finance company, which will review and periodically audit the reports.
In addition to providing working capital and enabling owners to maintain business control, alternative financing may provide other benefits as well:
It’s easy to determine the exact cost of financing and obtain an increase.
Professional collateral management can be included depending on the facility type and the lender.
Real-time, online interactive reporting is often available.
It may provide the business with access to more capital.
It’s flexible – financing ebbs and flows with the business’ needs.
It’s important to note that there are some circumstances in which equity is a viable and attractive financing solution. This is especially true in cases of business expansion and acquisition and new product launches – these are capital needs that are not generally well suited to debt financing. However, equity is not usually the appropriate financing solution to solve a working capital problem or help plug a cash-flow gap.
A Precious Commodity
Remember that business equity is a precious commodity that should only be considered under the right circumstances and at the right time. When equity financing is sought, ideally this should be done at a time when the company has good growth prospects and a significant cash need for this growth. Ideally, majority ownership (and thus, absolute control) should remain with the company founder(s).
Alternative financing solutions like factoring, A/R financing and ABL can provide the working capital boost many cash-strapped businesses that don’t qualify for bank financing need – without diluting ownership and possibly giving up business control at an inopportune time for the owner. If and when these companies become bankable later, it’s often an easy transition to a traditional bank line of credit. Your banker may be able to refer you to a commercial finance company that can offer the right type of alternative financing solution for your particular situation.
Taking the time to understand all the different financing options available to your business, and the pros and cons of each, is the best way to make sure you choose the best option for your business. The use of alternative financing can help your company grow without diluting your ownership. After all, it’s your business – shouldn’t you keep as much of it as possible?
Home Schooling In Florida – Guide to Florida Home School Requirements
Are you thinking of home schooling your child or children in Florida? Wondering what the requirements are and how to get started? It’s really not as scary as you may think. Florida is actually a pretty easy state to begin home schooling in.Home education, as defined by Florida law, is “sequentially progressive instruction of a student directed by his or her parent or guardian in order to satisfy the requirements of Statute 1003.21 and 1002.41.” Florida’s home schooling law is broad giving parents almost unending freedom in educating their children.Basically there are six requirements that must be met to Florida home school.1. Notify the District School Superintendent in your county of your intention to home school. The notice of intent must be filed with the superintendent’s office within 30 days of beginning your home school program.Currently there is no “official form” that is used to supply notice but your written (or typed) letter of intent should include at the bare minimum the following information; Name of child (or children), Birthday of each child named, Address and a Parent’s Signature. It is recommended that you send your letter of intent via certified or priority mail and file the receipt as proof in your child’s portfolio.2. Maintain a portfolio of records. While there is no proper or “official” way to record your child’s home schooling progress you must maintain a portfolio of records. The portfolio must consist of two main parts; Documented Records and Sample Materials. Documented Records is defined as “A log of educational activities which is made contemporaneously (the documentation should occur at the same time as the instruction) with the instruction and which designates by title any reading materials used.”Florida home schooling law does not require lessons to be planned or approved in advance. Sample Materials is defined as “Samples of any writings, worksheets, workbooks or creative materials used or developed by the student.” Showcasing your child’s “sample materials” can be accomplished in various ways. Keep in mind that whichever method you adopt to showcase your sample materials they need to be organized in chronological order for ease in showing educational progress. More elaboration on this topic in the future… hopefully.3. Keep your portfolio organized and available. Florida home schooling law requires you to make your portfolio “available for inspection by the superintendent or the superintendent’s agent, upon 15 days’ written notice.” The last thing you will want to do is be scrambling around trying to remember what you did when for the last 3 months and what was the name of those books you read again…. The inspection is only to make sure that the portfolio is legal; the superintendent cannot evaluate its contents.4. Submit your Annual Evaluation. The law requires an annual education evaluation by a Florida-certified teacher of your choosing. You are required to have your child or children tested annually and submit the evaluation to the superintendent’s office no later than one year from your letter of intent date.Alternatives to having an evaluation performed include; any nationally normed student achievement test administered by a certified teacher, a state student assessment test, a psychological evaluation or any other method mutually agreed upon by the parent and the superintendent.5. Hang on to those Portfolios, your going to need them. Florida home schooling law dictates that “The portfolio shall be preserved by the parent for two years.” Enough said.6. Submit your Notice of Termination. If you decide to no longer home educate under 1002.41, move from the county, enroll your child in a public or private institution or if your child graduates or completes the Florida home school program you must file a letter of termination with the superintendent. The notice of termination should include the same information as the letter of intent and should be filed within 30 days of the date or termination.7. Relax. Okay I know we said there were only six requirements but this one is worth mentioning. As long as there have been parents and children, “home schooling” has been happening. Today an estimated 1.6-2.0 million children are being taught at home by their parents. By grade 8, the average home school student performs four grade levels above the national average.Research has found that most homeschooled students are involved in a wide variety of outside activities, interact with a broad spectrum of people, and make positive contributions to their communities. Experience has shown that homeschoolers are well socialized and able to make lasting friendships across age and cultural divides.Painless right? We promised it wasn’t that bad and now that you have all of your legal bases covered you can concentrate on enjoying the home schooling experience and enriching the lives of your children through learning. Now all that’s left is to decide on a curriculum… Decisions… Decisions…