About Personal and Business Credit Scores

December 19, 2012

A personal credit score is a three-digit number calculated from your credit report to gauge your reliability as a borrower. It can be used to predict whether you’ll pay back your loans or pay debts on time, and it also helps to determine whether you are generally a good risk for lender.[i]  Credit scores are also used to decide if you are a bankruptcy risk.

Credit scores have several factors including:

-        The number and types of accounts you have

-        Your available credit

-        Your length of credit history and payment history

-        The number of recent inquiries about your credit, e.g. credit reports requested

credit

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iPad Computer Applications for Business

April 23, 2012

A few months ago, Homepreneurs wrote an article on tablet computing in the home business environment.  Some concerns have not changed: screen size, processing power, display ability for large spreadsheets, etc. somewhat limit the tablet for specific business needs.

Regardless, tablet computers continue to sell very well.  Apple recently released the third version of the iPad, the best known tablet and has two hundred thousand applications. Other tablet competitors in the market include: Samsung, Acer, Dell, Asus, and Toshiba.  Many have similar applications, but this post’s focus is about software for iPad.

One huge advantage to Apple’s iPad is the number and variety of the applications.  Many are free and multiple options exist for almost every business need.  In the list below, please note a number of common business applications with prices and download links.  Many are top sellers and commonly used software on all computing platforms today – laptop, desktop, smart phone or tablets.

Productivity

Numbers – spreadsheet software – $9.99

Pages – advanced word processing – $9.99

Keynote – presentation software – $4.99

Bento – personal database – $9.99

Dragon Recorder – speech to text recognition software – free

WebEx – web conferencing software online – free

Social Networking

The following social media applications are free

Twitter

Facebook

LinkedIn

Pinterest

Other Useful Applications

Dropbox – backup software, free up to 1 GB storage

Square – accept credit card payments. Software is free, but transaction fees are placed on each purchase.   An extra hardware device for credit card swiping is available.

With over 200,000 applications written for the iPad, home business owners and entrepreneurs can set up shop anywhere and anytime.  At 1.44 pounds, the iPad is portable and needs almost no space. Why carry a large laptop when a tablet may be just as good?

By Dion D Shaw

Dion D Shaw is the founder and owner of Homepreneurs

Homepreneurs.  New Day.  New Opportunity.

Disclaimer

Homepreneurs does not endorse nor have any relationships with any of the services listed.  Homepreneurs receives no compensation or consideration for its suggestions.  Homepreneurs strongly urges all interested parties to conduct research and accepts no responsibility for any losses incurred.

© Homepreneurs 2010 – 2012, All Rights Reserved

Image credit: http://www.apple.com


Why Your Business Needs Social Media

May 2, 2011

May 2, 2011 -

Social media is the current big buzz for online communities and business since launching about 3 years ago.  Homepreneurs, small business and large can benefit from using tools provided by social media platforms.  Despite its omnipresent nature, much confusion and uncertainty exists over its nature, usefulness, and safety.  I will attempt to cover basic definitions and answer some questions with this post.

Social Media Defined

In order to understand social media, we must define the term and its application to business:

- Social refers to interaction and communication within human society, persons and organizations alike
- Media are tools used to transmit, store, and display information or data.  Social media implies the tools are electronic or digital and possibly mobile.

Wikipedia defines social media as “… media for social interaction, using highly accessible and scalable communication techniques. Social media is the use of web-based and mobile technologies to turn communication into interactive dialogue.” 1

Characteristics

Social media allows for conversation, networking, sharing, collaboration, gaming, and similar functions at rapid speeds.  Information from news to pictures to opinions are shared and transmitted via social media platforms and may allow anyone to comment or add to what is posted.

Social media is virtually instantaneous with very little technical knowledge or talent required.  Its ability to reach across the entire planet creates opportunities for groups to organize and plan anything from reunions to revolts (social media possibly contributed to recent Arab uprisings).

Tools or platforms that qualify as social media include: Blogs (e.g WordPress, Blogger, Blogspot), social networks (e.g. Facebook), micro-blogs (e.g. Twitter), Internet forums, wikis (collaborative website which can be directly edited by anyone with access), and other web tools that help share multimedia or news with others (e.g. YouTube, Digg, Fickr)

Business Application

This is a short list of commonly cited business applications that social media provides:

- Advertising: Advertising on social networks is growing at an astounding rate.  Most young consumers have a social media account.  Reaching these audiences is a must for business.
- Authority:  Creating a website, blog or contributing to a wiki can demonstrate expertise in an area and show off a business as the “go-to” source for all things related to a product or service.
- Branding: For many consumers, delivering a product isn’t enough.  They want to provide feedback (positive or negative) and see what others say about the product.  Creating a company blog and interacting with customers enhances image and also helps retain current customers while acquiring new ones.
- Collaboration: Social media helps business organize better than ever before.  Small and large business alike can benefit from working with international partners in virtual real-time. Companies can use wikis to build on ideas and share product pictures with platforms like Flickr.
- Networking:  Simple lunch meetings are passe – why not have virtual meals while video conferencing with Japan?  A personal blog can supplement a resume while interviews are conducted via Skype.

Social media has many applications for personal and business use, but the most important thing to remember is collaboration.  When utilizing social media for business, engage customers and be transparent; these are core features of social media and customers will expect both.  Social media allows even the smallest home business to appear much larger and compete with the major market companies.  Social media is a powerful platform for consumers and businesses and in this new era of online business, it must be embraced.

By Dion Shaw

Dion Shaw is the founder and owner of Homepreneurs.

Reference:
1) http://en.wikipedia.org/wiki/Social_media


Value = Benefit/Price

April 15, 2011

April 15, 2011 -

What is value?  Dictionary.com defines value in part as “..the worth of something in terms of the amount of other things for which it can be exchanged or in terms of some medium of exchange.”  That and 17 other definitions for a simple concept that we understand on a basic value.  Even a toddler understands value; his toys, pacifier, blanket, and anything that is known to him has value.  The true concept of value is abstract to the same child, but take the toy away and his reaction will demonstrate the value of the toy to him.

Paul Carney, Jr. – vis-a-vie Seth Godin – has recently posted an excellent article breaking value down to a simple formula.  The formula is admittedly too simplistic when emotion is involved, but useful for material goods.  This concept applied to selling goods or services to customers can help close a sale or provide needed adjustments in pricing or benefit.  Homepreneurs and small business owners might consider the value formula when putting prices on goods and services.

—————————————-

Posted by PaulCarneyJr on March 30, 2011

It is such an easy formula that I learned from Seth Godin.

Value = Benefit / Price

For the following example, we will assume that each benefit is worth 1,000 points so that the ratio is a smaller number.

A man needs a vehicle to get him back and forth to work and the occasional family trip. He buys a $20,000 car that provides the following benefits:

  1. Gets him to where he is going, comfortably
  2. Decent gas mileage

So, his Value is 2,000 / $20,000 or 10%

A woman wants a vehicle, too, but she wants it to have style, make a statement, and get her where she needs to go. She decides to buy a $40,000 car with the following benefits:

  1. Smooth ride
  2. Luxury features
  3. Status
  4. Extra safety features

Her Value is 4,000 / $40,000 or 10%

See how it works? The person in the second example paid twice as much for her car, but her Value is the same as the guy who bought his car. This is an easy way to determine value even if the price is different.

This same example can be used to sell items to people by revealing the value of a product or service to them while convincing them to pay the price you want. As Seth says, you don’t always need to lower your price to generate more value. I will cover in an upcoming blog post some cool ways that you can increase value while raising the price!


4 Elements of a Successful Business Web Presence

December 4, 2010

What’s the most important piece of your business’s web presence? Your website, of course.

Creating a website requires a good deal of thought; it’s important to plan what information you want on the site, what the layout will look like, and how you’ll connect each piece together.

Think of your website as your hub; it’s what people will see when they look for you. Here are four elements of a successful business web presence that can help ensure that your first impression is a good one.


Before We Begin 


Your very first step should be to define the goals of your website. Most businesses should have at least three: to create an online presence, to differentiate your business, and to capture leads.

1. Creating an online presence is the most basic reason for building a website. This means building a site that includes your business information, highlights what makes you special, and gives consumers a way to contact you.

2. Making your business stand out takes a more advanced strategy. Maintaining a blog that portrays your thoughts and insights can help your website stand out and help consumers better understand your business.

3. A good business website can be used to capture potential leads. As the site grows it becomes a community for customers and potential consumers. Connect with potential consumers and find a way to continue marketing to them. Your website can be the elevator pitch and your connection the long sell.


The Website 


With our goals in mind, we can begin to explore specific elements of a strong website.

The homepage will generally be the initial point of contact with your consumers. A good homepage will answer the questions “What do you do?” and “Why should I trust you?” Consumers will make a split-second decision on whether they’ll stay to learn more or go to a competitor. Don’t lose them at the start.

An “About” page can further reinforce the trust factor. Explain exactly what your company does, in-depth. I want to know who you are, why you do what you do, and what makes you special. This page should make an impact and impress your consumers.

Finally, create a “Contact” page. This page should clearly explain to your customers how to get in contact with you. Make sure it outlines your address, phone number, email address, and any other way someone can reach you. You might even want to include a Google Map with directions to your store or office.

These three pages create a basic online presence, but not much more. If you want to set your business apart from everyone else, the best way to do that is to create a company blog.


The Blog 


blogs imageFor some reason, many business owners shy away from blogs. What they don’t realize is that most business “News” sections are blogs. “Blog” simply defines any continually updated news or content section of a site. In fact, this is technically a post on a blog.

So why is a blog important? For one, it shows that you know what you’re talking about. It helps you identify yourself as an expert or unique. Secondly, a blog is constantly updated. It gives readers a reason to come back to your site. The more contact you have with your consumers, the more likely they are to buy from you.

Also, consumers have become savvier and will search out information. They want more than a simple explanation of what your product does. They want to know how to use your product, examples of interesting things people are doing, and how you can make their life easier.

After you have a site with information and a blog that is ever-growing, you’ll begin to experience a growth in site traffic. It would be a shame to ignore these potential customers. Which leads us to our next step; lead capture.


The Newsletter 


It’s here that we begin building leads from your website’s visitors.

The first and most important element is a newsletter form. I use Aweber to handle my own personal newsletter sign ups and delivery. I just write the actual newsletter and format it.

There are a number of other services you can use too such as MailChimp and ConstantContact; it simply depends on what you want. Do your research and choose a program you like. The newsletter cost quickly pays for itself. Email marketing is one of the most effective ways to generate sales.

Getting consumers to sign up for your email list means you no longer have to wait for them to come to you, you can go to them. You can offer your core consumers specials and keep them up to date on new products or changes.


Social Media Accounts 


Another option for capturing leads is social media. Microblogs and social networks such as Facebook and Twitter can help you connect with and contact those within your core community. For this strategy to work, your blog should serve as a central hub. The hub sends consumers to your respective social media profiles to build the connection.

Businesses with a Facebook Fan page can include a Fan box on the site to make it an easy process to fan the business page. If you have an active Twitter account, consider adding the “Follow Me on Twitter” button. These two elements can help turn a one-time reader into a connected consumer.

When you’re building an online presence, the most important aspect is your website. It’s your hub and your first impression. Are you using the right elements to maximize your website’s effectiveness?

This post originally appeared on the American Express OPEN Forum, where Mashable regularly contributes articles about leveraging social media and technology in small business.

Imagea courtesy of iStockphoto, geopaul, WendellFranks, melhi

Source: http://mashable.com/2010/02/10/business-web-presence/


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