Category: Legal Branding

Legal Branding

7 Tips If Your Business Is Strapped for Cash:

It is perhaps inevitable, that almost every business will at some point, or another find themselves short of cash. Whilst being low on funds can of course be immensely stressful and hindering to your business’ growth, there are number of ways in which you can tackle your financial issues head on:

1) Seriously Review Spending

It is perhaps obvious that businesses should review their monthly, weekly even daily expenditure regularly, to see if there is any opportunity to cut costs, but many business owners simply don’t do this as often as they should do. 

Check old receipts and bank statements at least on a monthly basis to pinpoint the main sources of your spending. Is there anything that you could cut back on? Are there expenditures you could cut out altogether?

According to Entrepreneur Europe, a central area where business’ mismanage their spending is on the costs of insurance coverage: workers’ compensation, unemployment, general liability, general property and casualty, vehicle, health and other employee benefits. So it may be worth reviewing how much your business spends on insurance cover and if there are any better deals out there available to you.

2) Actually, Make the Cuts

Once you have reviewed your spending, you need to act and make the necessary cuts for your business to recover. Do you hire a professional cleaning team, when in reality you could do the cleaning yourself, or between your staff? 

Could you renegotiate your rent or even downsize your office or shop space? On a smaller level, if you have noticed your energy bills to be particular high, replace old light bulbs for energy savings light bulbs or consider switching energy providers. There are multiple cuts and changes that can be made to reduce monthly expenditure.

3) Ask Customers to Pay Upfront in Advance

This is a useful way to improve cash-flow particularly if you’re a service-based business.

As long as your business has a good reputation, you should have little difficulty with asking customers to pay in full upfront. Many customers actually prefer paying upfront, so that they can budget effectively for the remainder of the month.

4) Consider Alternative Funding Options

An innovative funding alternative that many small businesses now opt for, to solve short-term cash-flow problems, is a merchant cash advance. Your business will receive an instant cash-boost in exchange for a small percentage of your future debit card and credit card sales. It is one of the fastest ways in which you can increase your business’ funds, and it is far more accessible than a bank loan.

Reasons to Get A Merchant Cash Advance:

* There is no interest to pay: rather than paying interest on the sum borrowed, you instead agree with the lender a fixed fee upfront. Consequently, you will know exactly how much you will have to pay back, making future financial planning much simpler.

* Repayments are also flexible and never fixed. if you earn less one month, then in turn your repayment for that month will also be less, so the amount you pay back is always nicely in sync with your business’ performance.

* Applications for a merchant cash advance are made entirely online and within minutes you will know whether or not you have been accepted, so there is no waiting around and approval rates are high.

There are a great number of reasons to get a merchant cash advance, so it is an option well worth considering if your business is particularly strapped for cash.

5) Try to Obtain A Business Discount

Many suppliers will offer business accounts and business discounts if they know they are guaranteed orders for the foreseeable future, so if you haven’t already it may be worth re-negotiating with any of your current suppliers to see if you can get a better deal.

6) Sell Unused Goods

Many business’ accumulate goods and appliances in the beginning that in the long-run are actually very rarely, or perhaps even never, used.

If you can identify any valuable goods in your business that realistically you could sell on, and still operate at the same level, this would be a big help to solving cash-flow problems. For example, paper-shredders, toastie makers, even fancy coffee machines that aren’t in daily use, are great items to upload to Ebay to try and make a bit of extra cash?

7) Consider Reducing Your Own Salary

Whilst this is perhaps not a popular suggestion, reducing your own salary for a few months whilst trade picks up again will allow for your business to benefit financially in the future.

Cutting your own salary rather than the salary or hours of your staff members will help keep up morale within the workplace and keep your employees feeling secure and stable within their jobs. There are a vast number of ways in which you, as a business owner, can tackle any financial struggles that you and your business face.

To End…

Smaller strategies, such as seeking out discounts and making cuts to your expenditure, will surely see the improvement of your financial situation with time and patience, but for a faster track solution, an alternative funding solution, such as a merchant cash advance, can provide more instant financial relief for your business.

Brand tor law firm
Legal Branding

The Beginner’s Guide to Branding Your Law Firm

Nowadays, there are many law firm managing partners as well as owners who think of themselves as attorneys first. Such people also recognize themselves as a business. This is because they think that they have to bring in new clients and revenue in order to keep the firm successful. A business is an act of putting efforts to increase the profits of your firm. These efforts include how you hire the right person in your firm, how you set the prices of your services, how you maintain expenses as well as revenues and how you handle the administrative tasks. By considering all this, you think of your firm as a business but you do not consider your firm a BRAND!

Branding Your Law Firm

Now the question arises here what is a brand. A brand is an impression that you generally make on the people who come into contact with your firm in any way. It is, in fact, a consistent as well as a distinct point-of-view that helps the potential clients to understand what your firm is really about. In fact, most of the lawyers do not think they need branding, they do not know how to do it, or they do not even know what it is or what it means but they still struggle with branding. Always keep in mind that the size of your firm, practice areas as well as the locations do not describe your brand. They are actually the things that truly reflect your firm. So, you have to put some efforts and make a strong branding strategy that can compel a potential client to pick up the phone and call you. In this article, we have got you covered with the beginner’s guide to branding your law firm. You can also take the services of a criminal defense attorney in this regard.

Build your brand concept

Build a Brand Concept

The first and foremost step to branding your law firm is to write a brand statement. A brand statement is just like a mission statement where you have to add a short explanation of who you are and whom you serve. Moreover, you have to keep one or two of the most important adjectives in your brand statement that describe your approach. The law firms who focus on a brand statement have a deep and realistic understanding of who they are and who their clients are. For writing a brand statement and building a brand concept, try to use your questionnaire as it can help you do this.

Humanize your brand

Make your Brand Human

It means that your brand should have a voice and a sense of humor. It should create a community and marketing in such a way that resonates with people so that they feel comfortable and actually want to talk to you. This is a fact that people always want to connect with people. They want to interact with small to medium and solo law firms where interactions and legal services are more personal in nature. So, always try to make your brand human.

What us your firm;s branding elementList Your Firm’s Branding Element

The next step is to list every branding element which is a touchpoint, visual as well as auditory that can influence how a person feels about your firm. This includes a logo, billboard ad, social media properties, client reviews and much more. Evaluate how closely each branding element adheres to your brand standards.

Conclusion

These days, most of the attorneys think that there is no place for branding in the law. They think that everything has to be serious, stuffy and sterile but do remember that branding your law firm helps you stand out and helps people remember you!

Legal Branding

Things to Know about Personal Loans before Using Them for Debt Consolidation

Debt consolidation could be an effective way of paying off all your high-interest credit card debts and it would help you in saving thousands of dollars eventually. The chief advantages of consolidating all your existing debts are fixed interest rates and single monthly payment. You must remember that when you use a personal loan for paying off your existing credit card debts, you would be having zero balances across all your accounts. This would only imply one thing-gaining access to the actual credit limits which your credit cards actually have.

You know that personal loans are supposed to be general requirements and their unique rules.

Personal loans prove to be a boon for many people who have opted purpose loans. You have the liberty of using the funds but often some lenders would be restricting what you could do with their money. Personal loans are often accompanied by strict eligibility for debt consolidation for paying off multiple debts. While exploring various features of the personal loan, we came across https://www.huffingtonpost.in that claims that “When it comes to saving on debt payments, consider that if someone is paying $348 a month on a $16,000 debt with 20.99% interest rate, they would spend $16,727 on interest payments before paying off the debt. If they were to get a personal loan with the same monthly payment of $348 at a 10.99% interest rate for a 5-year term, they would save $11,863 and pay off their debt faster.”

Personal Loans Are Supposed to Be Unsecured

Personal loans are generally, unsecured implying there is no need for you to present collateral like a car or a house for acquiring funds, and in the case, your loan request is approved, you could get your money within a few days. Since you do not need to offer any property or asset as security when you are taking out a personal loan for debt consolidation, the lender does not have the liberty of automatically seizing your asset or property as a substitute for your outstanding payments if you start defaulting. Moreover, as personal loans are unsecured, it is really quite tough to get personal loan approvals for debt consolidation.

However, lenders of personal loans are empowered with the liberty to take some other collection measures even if they are not authorized to take your car, house, or any other such asset. These measures would be including reporting late payments directly to credit bureaus, or taking legal action against you, or employing the services of a hiring agency.

Personal Loans Offer Fixed Interest Rates

Personal Loans are quite different from other loans, for instance, your ‘home equity line of credit’ would be having a variable rate of interest that could be changing with the changes in interest rates in the overall economy. Loans with variable interest rates would look quite enticing initially since their initial interest rates seem to be quite impressive and low. But these rates fluctuate and you cannot anticipate how high they are going to get by the time your loan term is over. It makes budgeting pretty challenging as you cannot anticipate the changes. We know that the rate of interest on your personal loan would be locked. It would remain the same and would be fixed during the entire loan term. You may take help from Nationaldebtrelief.com for perfect loans and debt solutions.

Interest Rates Would Be Determined As Per Your Credit Score

Interest rates would be determined according to how good your credit score is. The better the precise credit score, the lower the interest rate would be on your personal loan. Lower interest rates seem to be the best as that implies you would be paying less for borrowing whatever amount. You could make substantial savings in terms of interests.

Personal Loans Must Be Paid Back Within a Specified Period

Most personal loans would be having a fixed term extending between one and five years. During this fixed repayment period, you need to go on making a fixed repayment every month. This would surely make a dent in your outstanding balance. If you wish to know for certain when you would be finally, paying off your outstanding debt balance, you must opt for a personal loan.

A Personal Loan Actually Is Supposed to Be for a Fixed Amount

The personal loan amount would be ranging somewhere between $1000 and $50000 depending on your income, lender, credit score, and other debts. You could get a higher amount for borrowing provided you are having a higher income and better credit score. Most banks and other financial institutions would be placing caps on the amount that could be borrowed by you. For instance, you could only borrow $10000 at max even though, you are entitled to borrow more since you have an excellent income, supposing it is the lender’s policy to strictly not to offer anything more than that.

Personal Loans Impact Your Credit Score

Most lenders would be reporting details about your loan accounts to directly the credit bureaus. This information is then incorporated into your credit report. Remember every step you take right from putting in a loan request application to how promptly you are making the loan repayments would be impacting your credit score. Remember preapprovals would not usually, be showing up as compared to hard inquiries which could be seen by everyone on your credit file. Moreover, preapprovals do not impact your credit score. The secret to maintaining an impressive credit score is simply making all your loan repayments promptly every month and paying down the outstanding balance consistently.

Conclusion

Customers have to constantly juggle savings, financial obligations, and surprise expenditures, which is why these features tend to appeal to a large customer base. You must, of course, be wary of loan scams. Most deals that look too good to be true usually are; if a lender promises approval without looking into your credit history or gives you ridiculously good terms despite a poor credit score, it is a big red flag. Another red flag is if they ask for money upfront to help secure the loan, through channels like prepaid cards or wire transfers. A good starting point to ensure you are dealing with good people is the Consumer Financial Protection Bureau or the Better Business Bureau.

Legal Branding

A Guide to Resolve Major Debt Problems with Debt Consolidation

Individuals and businesses get into debts in life at some point or other. Taking debt from the market is nothing uncommon, but the problem arises when we fail to repay. In the case of businesses, finance is essential for the smooth flow of operations. It is considered as the backbone of a concern. Debts are taken from the market by business houses for several reasons. For some businesses it is to finance their working capital requirements, i.e., the day to day operations, for some it is to purchase new assets and equipment, while for others it is for inventories management. In this post, you will get in-depth information about the problems of having multiple debts and the slight variation between the concept of refinancing and debt consolidation.

Operational Mismanagement Requiring Procurement of Multiple Debts

Some of the classic mistakes resulting in the requirement to avail credit include Overestimated Revenue Forecasts, i.e., actual Sales much lower than predictions, Excessive Expenditure on Overheads, Capital expenditure beyond capacity, etc.

Following are some of the problems faced by a business due to unplanned credit procurement:

  • Imbalance in Cash Flows, i.e., day to day operational funds and assets. This is the essential part of any Small or Medium business as it accounts for the majority of the business proportion.
  • High Interest amounts to be paid due to delay in payment.
  • Frequent calls and notices for repayment of loan installments as per various schedules.
  • Poor impact on credit score.

To solve these problems, there’s a systematic process called Refinancing. For best refinancing services you can access Nationaldebtreliefprograms.com/.

Understanding Refinancing and Debt Consolidation

Refinancing is a planned repayment of existing loans with the help of new loans. Although this sounds undesirable for any financial body to provide a loan to pay off another loan, that’s not how this process works. Many financial companies provide Refinancing services wherein the existing high-interest rate loans are paid off with new low-interest loans, which ultimately benefit the client with savings on the excessive interest rates.

Debt consolidation is a subtype of Refinancing, but both these terms are quite distinct in the manner of settlement of the original loans. While Refinancing involves settling original loan with a new loan, debt consolidation involves consolidation of several business loans that are smaller in amount into one big consolidated loan which has a measurable rate of interest.

Why is Debt Consolidation the Best Refinancing Alternative for Your Business?

While Refinancing promises to reduce your overall high-interest rates payments, debt consolidation doesn’t necessarily guarantee the same. Rather it solves other significant issues related to sound management of multiple debts. Therefore, these two terms cannot be used interchangeably. The problems faced by an organization having multiple debts include:

  • Keeping track of multiple lender accounts.
  • Budgeting for different installments of Debt repayments.
  • Complexity in calculating the accumulated rate of interest on all the installments to assess its ultimate impact on cash flows.
  • Regular impact on working capital due to frequent payments.
  • Difficulty in obtaining new business credit accounts due to poor credit score.

Debt consolidation is a more viable type of refinancing because it narrows down your multiple numbers of debts to one. Thus, not only does it eliminate the need to pay multiple installments frequently, but it also brings the number of lenders down to one, and it may also help you to probably get a favorable rate of interest lower than the existing ones.

Types of Debt Consolidation for you to choose from

There are mainly two types of Debt consolidation which you can choose from to manage your multiple debt crises, namely Secured Debt Consolidation &Unsecured Debt Consolidation.

  • Secured Debt Consolidation: As the name suggests, all your multiple debts, in most of the cases unsecured, are consolidated into one single loan which is secured against some collateral security of yours. A prominent and most relevant example of this is a Home Equity Loan. A Home Equity Loan is available at all the financial institutions and banks as a credit against your House as collateral security. Similarly, in case of a business, all your existing loans will be consolidated in a single loan against some business property as the collateral security. The term of such loans is quite long stretching up to as long as ten years or more. The monthly installments are very low and reasonable. The fixed interest rate too might be lower than the aggregate of what you are currently paying. Plus, due to the option of security, it is safer than unsecured consolidation. The only problem with such debts is the gruesome complex procedure and the paperwork of the collateral security involved, which might be a discouraging factor.

Such type of consolidation, however, can also be risky at the same time, because non-payment of dues shall result in confiscation of the business property which is mortgaged as collateral security. Moreover, what could be worse for your business is that in case the value of mortgaged property diminishes below the consolidated debt repayment value, it can pose a potential threat of bankruptcy for your business.

  • Unsecured Debt Consolidation: Under this type of Debt consolidation, there’s no requirement of any collateral security to be mortgaged with the bank, and neither is there any troublesome paperwork or procedure involved in the procurement of such loans. Unsecured consolidated debts are easily available at all the banks and through market lenders by online or offline means. The only drawback is that the rate of interest is exorbitantly high as compared to the aggregate rate of interest what you are currently paying.

Wrapping up

A debt crisis can be solved with various structural solutions and refinancing is one of them. Refinancing is basically taking a new loan with a lower rate of interest to pay an existing loan with a higher rate of interest. Although Debt consolidation is a subtype of Refinancing, it is significantly different than basic refinancing process. It involves consolidation of multiple business loans into one to solve several debt management problems.

Hopefully, you have now become familiar with the two types of debt consolidation loans. For more information on consolidation loans, you can check out our other blogs!

Legal Branding

The Enhancement in The Credit Score Gained by Strategic Acquisition of Credit

This is a guest post by Marina Thomas The credit score is the number that determines the credit position of a person. People who have taken credit and have maintained and are maintaining multiple credit accounts efficiently with timely repayments are known to have good scores which help them in getting new credit without too many hassles. However, if the credit score of a person is at the lower end then credit will be available but the options will increase severely, and the rate of interest will rise significantly. While calculating the credit score 10% of that score is dependent upon the credit balance that one possesses. Therefore it is understandable that if a credit score is to be improved, then the avenues and amount of available credit has to be increased.

The actions that can be taken to improve credit by exploring credit avenues

Building up the credit amount is vital, and it will also help in resolving the existing problems that have affected the credit score of a person. The below-mentioned steps will provide a person with the necessary information needed for deciding upon a pathway for building credit:

  • Acquire new credit:

If a person is interested in enhancing the credit score, then the first important thing that is needed is to have credit because without taking any credit one cannot hope to get a credit score. Many lending agencies might not agree to provide credit to a person who has no previous credit record. Therefore it is better to build one’s credit report bit by bit by taking new loans in a sensible a calculated manner.

  • Select an appropriate credit card in the initial stage:

Acquiring a credit card, in the beginning, might seem a bit difficult for individuals who are not well acquainted with credit cards, but some companies specially formulate credit cards for first-time holders. These credit cards are also termed as starter credit cards. The starter cards usually offer a considerably low credit. For initiating the line of credit, it is a good way, to begin with, a relatively small amount of loan. However one should not choose just any kind of initial credit card because whenever it comes to credit building, it is important to remain alert and do a bit of research. The credit card should satisfy the condition of providing a small credit amount but also needs to have a relatively moderate rate of interest. High rate credit cards are to avoid as one needs to get used to the rhythm of credit taking and solving before moving on to the other areas of credit acquisition. In this regard, a person can also opt for a secured type of credit. These credit cards allow a person to invest a certain amount and this amount is converted into the credit that is provided to the cardholder. There is no need for any credit to forward an application for such credit cards and interest is also nil,this is a huge advantage for a person who is beginning to build credit. Hence there are ways to increase your credit score by 200 points, but no hasty steps should be taken with credit gaining as it will do more harm than good.

  • Reining the credit taking attitude

In the initial phase, it is very important to keep oneself grounded and control the urge of taking a huge credit from one or more sources. The sudden taking of massive credit can cause many problems like a high balance which will lower the score of a person. Therefore potential issues should be eliminated by keeping the risk appetite measured in the starting phase so that one gets to know about the credit field meticulously and builds a good credit before venturing into risky prospects of taking enormous credit.

  • Build the credit score by being punctual about loan payments:

Whenever credit is taken, it is understood that a loan has been acquired which has to be repaid according to the terms and conditions of the credit providing company.Accounts that are new should not be converted into debt accounts by being slack with the payment procedure. The presence of a loan will impact the 10% of the score, but if the same loan is not repaid, then it will negatively impact the score. Then the task will become two-fold one is to elevate the score and another is to solve the debt. Therefore being extremely diligent about all kinds of payments is very necessary. If payments are done timely from the very beginning, then the credit score will also move upwards quickly.

  • Using multiple sources for constructing the credit line:

When a single source of credit is used when the score is not very heartening but when multiple credit avenues are being used, then it will positively impact the score. Small loans from banks or other sources might be a good idea for diversifying the credit taken. However, care should betaken so that too many loans are not taken in quick succession because that also means that the payments have to be made together which might get tricky and make a person land in a puddle of debt.

  • Keeping track of the cards and upgrading to better cards:

Multiple credit cards are used by many, and initial cards with low credit balances do not offer any discounts. Therefore when a person has learned to manage credit effective mannerly then choosing a better card that has multiple benefits is sensible however it is also important to check the balances or credit taken in each card regularly. Having a credit card is like having a financial responsibility to the credit taken should be measured and tracked so that repayments are done. The benefits offered by different credit cards should be applied sensibly so that the person is in a painful position. Therefore there are ways to make the credit accounts impact the credit score, but all steps that are taken for increasing credit should be taken with extreme caution and care.  

Author Bio

Marina Thomas is a marketing and communication expert. She also serves as a content developer with many years of experience. She helps clients in long-term wealth plans. She has previously covered an extensive range of topics in her posts, including business debt consolidation and start-ups.

Legal Branding

Ways To Get Approved For A Personal Loan For Debt Consolidation

Just like anybody, you too may know that credit card debts are the high-interest loans. Most people have multiple credit cards from multiple issuers and use them at several instances, all of which may not be logical enough for proper reasoning. Therefore, it is easy and very common that people will have multiple credit card debts at any given point of time. Each of these debts carrying high interest will make the repayment aspect a bit confusing, complicated and even impossible at times.

If you too experience such a situation, you may have to seriously consider taking out a personal loan to consolidate these high-interest debts. Just like the credit cards, personal loans are also offered by several banks and credit unions. Using these personal loans prudently you can either consolidate or refinance your debt transforming it into a loan of lower interest and with a single fixed monthly payment.

There are several benefits of taking out a personal loan from a bank to consolidate your multiple credit card debts making a viable option but there are a few disadvantages of it as well that you should not overlook. Few specific types of personal loans may carry higher interest rates as compared to any traditional mortgage or auto loan.

It is therefore required for you to know the best ways to increase your chances to get fast approval of your application, should you decide to pursue a personal loan for debt consolidation.

Type and amount of loan

First, you will need to decide on the loan type you want to be given the fact that there are primarily two main types of personal loans namely, secured and unsecured.

  • Secured loans are those for which you will need to pledge collateral security to get approved. This collateral security can be your car or your house and this collateral can be possessed by the lender in case you default in making your payment. However, the fact that you have to put up collateral for it, these secured loans usually have flexible and looser requirements for eligibility such as a low credit score, greater borrowing capacity, and a lower rate of interest.
  • Unsecured loans, on the other hand, do not require any collateral to avail. Ideally, the loan providers based on your ability to repay and creditworthiness to grant you such loans. Therefore, you will need a higher credit score to get approved and get a higher interest rate than secured loans.

To get fast approval to be sure about the loan type you may be eligible for before you apply.

The amount of money you want to borrow will also influence your loan approval process and speed. You must know how much to borrow before you apply for a personal loan. For this, you will first need to tally up the amount of the existing debts that you want to refinance or consolidate. Knowing your amount and personal loan requirements will help you avoid asking your lender for an exaggeratedly high amount.

Procrastination and credit

When you want to deal with your debt you will need to act fast. Procrastination will not only make things complicated with regards to your debt but will also make your financial future bleak. It will also make things harder when it comes to processing your personal loan application down the line. You may even lose your confidence in taking it out and in your ability to pay it back.

You must also know your credit before you apply for a personal loan so that you are sure to get fast and positive approval. The state of your credit will matter most significantly in the approval process of your personal loan application. Ideally, it is recommended to check both your credit report as well as your credit score from the credit bureaus at least once a year. When you check your credit score make sure you:

  • Check it with all three credit bureaus for free
  • Closely examine the report for any negative or improper information that may hurt your chances of loan approval
  • Dispute any errors you find in your report and have it removed from the credit report and
  • Get two of your updated credit scores for free.

Before you apply for your personal loan make sure that you do everything possible to improve your credit score if you find it to be too low for fast approval.

However, you may also take help from Nationaldebtrelief.com if you are in ominous need of debt relief and do not have any time to wait for your credit score to improve.

Find a suitable lender

Your choice of the personal loan provider will also influence your loan approval process. Therefore, research well to know who you should apply for a personal loan in the first place because all financial institutions are not created equal. Remember a few points to follow when you research search as:

  • Shop around for several lenders to compare loan terms, amount, rate, and quality of service
  • Do not only rely on and resort to banks but look for other credit unions as well
  • Know the requirements of each and choose the one that needs minimal documents and is most likely to approve your loan application
  • Do not finalize at the first offer
  • Review the fine prints and consider all other options.

Lastly, create a checklist once you are ready to go ahead with your personal loan application. Include all the documentation that you will need to provide the loan provider. You may also have to meet your creditors as well as your employer and other people to collect all the documents required. Therefore, devote some time to know about the requirements and make sure that the documents are complete in all respects and authentic.

Remember, incomplete applications may result in an immediate rejection. Lastly, before you apply to remember that debt consolidation will make sense only in certain scenarios. Therefore, understand the total cost of the personal loan to the current debts to make it the right choice for you.

Legal Branding

Debt Settlement Based Affiliate Programs With Back End Processing Are Growing As Business

The debt settlement program under the affiliate notion is money up front based payment structure. With all the new regulatory laws, a debt settlement based affiliate advance fee model is no longer anything of the past.  There are two major pluses of such program as it will allow the affiliates to get paid faster than the higher commissions. This will allow the affiliates to just cover the marketing cost easier and also continually feed some quality leads agents. You can further check out some information on debt settlement ratings, which will act right in your favor as well.

Reasons to join the debt settlement based affiliate program:

There are so many points, which will set the debt settlement based affiliate programs completely different from other options you have come across. The proper starting place over here is going to be back end processing and even the commission payouts right now. You should learn more about the program before the matter gets really out of your hand over here.

More about the program and customer service:

The affiliate programs are primarily designed for those firms which are currently related to the debt settlement industry. It is also for those firms, which are not quite receiving good processing, servicing and proper and fair commission.

  • The program is mainly designed around to offer you with the finest in such key areas as just mentioned. They are also quite focused on providing clients with some best relief and greater customer service right now.
  • The primary customer service as provided to the affiliates will bring in some client satisfaction and will keep the affiliates retention at a high rate.
  • Anytime the client as question during the business hours, the friendly customer services reps will proof to be quite ready to help.
  • Clients are not going to be passed through the automated menu and menu for getting through the live agent. They are likely addressed to speak to one of the knowledgeable and friendly representative from the moment they are connected through the program.

The commission structure related to the affiliate program:

At the current debt settlement affiliates, the teams are able to offer you with the best and finest possible settlement based affiliate program and proper business opportunity. This is going to be the opportunity where affiliates get the chance to grow and then thrive. Here, they can get the chance to become leaders in the current debt settlement industry for sure.

  • The high affiliate based commissions will allow the affiliates to easily catch up with the pay marketing costs and even that of the agent commissions.
  • It will help the affiliates to come up with some high profit margin and grow the company in an exponent manner. The focus over here is more than just adding affiliates and that is to help the current affiliates to just grow.

Dealing with debt settlement processing:

The debt settlement processing will definitely bring client satisfaction and some higher client retention. The most reliable companies are able to offer you with so many affiliate programs like debt help, debt relief, debt negotiation and even debt management programs. They have special packages under debt reduction and even debt consolidation based affiliate programs. The companies are known to provide their affiliates with the best right in back end based processing associated with private student loans, consumer debt and even business debt in question.

Heading towards pay per lead:

There are some selected companies, which are not going to offer pay per lead programs like the others in question. It is mainly because the commission on the current pay per lead program is rather low. When compared to any of the affiliate shared commission program, this current pay per lead option ways quite less, and even less than half. This current pay per lead pay structure might cause the affiliates to just fail. The procedure might not work well as the commissions are rather too low for covering the agent and marketing commissions.

Benefits of back end processing and the programs in questions:

Going through the options as mentioned beforehand might actually attract you to come towards this debt settlement based affiliate program and try your luck in winning some bucks. But before any of that, you might want to take some time out and learn more about the benefits of the company’s back end processing and program, just to be sure.

The system remains effective and unique:

The reputed companies are able to use one proprietary based bulk settlement system right on the back end for getting clients the lowest possible negotiated settlements as you could have asked for. It is no doubt to state that this is one major factor for maintaining higher client retention. The clients are here to get results and if the results get better, the harrier will be the outcome. The programs are mainly designed to bring in some fast relief by just meeting and then exceeding the expectations of clients.

Customer service is rather unsurpassed:

The clients are here to receive exceptional customer service, right from start till end. It is just as vital as consolidating debt into one lower payment. The concerns or questions of the client need to get answered or professionally addressed. Not working on that might bring in some dissatisfaction, which will finally focus you to lose clients. For such a reason, the debt settlement programs are likely to go just beyond back end processing.

You can place some proper emphasis on client relations with the help of exceptional customer service. Even when the client is not being courteous, the customer service is definitely going to rep to be courteous. All these service reps are deemed to be knowledgeable and professional about various aspects of service.

Once you start being a part of these affiliate programs under the debt settlement section, you will come to learn about it a lot more. Things will definitely work out in the way you could have asked for.

Legal Branding

Basics Of Banking Allows To Create Lot More Through Loans Than Deposits

You may be surprised to know that loans can create a lot more funds for any economy than deposits. You may tend to think how a loan can create deposits when money lending is actually giving away money from the depositor’s accounts in the banks. Well, there is a lot of economics behind it. It is true that giving away new loans create a new liability for the banks but at the same time, it also creates new assets in a roundabout way for the banking systems. It is complicated and needs a deep insight into it to know about science and economics.

The fact is that when a bank makes a loan to a borrowing customer it simultaneously creates a new credit and a new liability for both the borrower as well as the bank. In this process, the borrower is usually credited with a deposit in the account. This, in turn, incurs the borrower with a liability for the amount borrowed from the bank.

The bank on the other hand now has a new asset which is equal to the amount of the loan given out to the borrower. This asset is equal to the liability of the deposit account.

Capital and reserve requirements

There are four separate entries made for such lending that signify an increase in the corresponding categories. These entries say that the assets and liabilities of the bank, as well as that of the borrower, have grown.

  • At this point, simultaneously two more different types of liabilities are created as well. There is a reserve requirement created as well as a capital requirement. However, these requirements are strikingly different from any standard financial liabilities because these are all regulatory liabilities.
  • The reserve requirement is created when the bank creates a deposit which is, in turn, an indicator of the bank’s liability and on the other hand a capital requirement is created when the loan is issued which is actually the asset of the bank. This is because the bank expects that it will get back the amount lent along with something extra in the form of interest.

To put it in simple terms, loans heal to create capital requirements but deposits create reserve requirements for the banks.

The lending principle

If you want to have a fair idea about the lending principle, you can visit the official websites of banks and other financial organizations such as https://www.libertylending.com/ or any other. Ideally, the working principles of banks are regulated by the government and are slightly different from the working principle of private money lenders or any non-banking financial companies. As per the rule, banks need to retain some amount of its deposits as a reserve and the percentage is regulated and revised by the government from time to time depending on the present economic scenario. There are a lot of technical requirements by the regulatory authority to calculate this reserve requirement percentage.

To keep the calculations simple, assume that the reserve requirement is 10 percent, which is much higher than the actual percentage. This means that the bank invites a reserve obligation of $10 for every $100 deposit that it takes on. Moreover, as loans create more deposits, it means that a loan of $100 will create a required reserve liability of $10.

The capital ratio

In order to find out how well a bank is capitalized, the government has formulated Tier One and Tier Two Capital ratio. This combined ratio also has complicated angles to measure the eventual capital requirements.

However, to keep the calculations simple and make it easy for you to understand, if the above rate and examples are followed, then the bank loan of $100 will once again give rise to a governing capital liability of $10 for both Tier One and Two Capital.

  • Taking all these things into consideration, you can now clearly understand that a $100 loan has created a $100 deposit which is actually a $100 asset for the bank in the form of a loan.
  • , On the other hand, it has also created a liability of $120 that includes the deposit as well as the requirements for reserves and capital.

The process explained

For a common person with limited knowledge of economics and finance, it might seem to be a bad deal for the bank. On the contrary and after a deeper look into the matter you will find that it is not so bad a deal after all.

  • Suppose that a bank starts off from the scratch and lends $100 to a borrower by crediting the deposit account of the borrower with $100.
  • The next step of the bank is to figure out immediately the effective ways to meet the two new liabilities hence created namely the capital requirement and reserve requirement.
  • The bank may have to sell shares to raise the required $10 capital or it may even retain earnings or raise equity-like debts.
  • However, the best way for the bank is to charge the borrower an origination fee of 10% to create earnings immediately.

The last option is practiced by different banks to help them settle their desired capital requirements with this $10 fee that can be kept as their retained earnings.

An extraordinary way to create deposits

Ideally, a person asking for $100 loan may be offered $90 or even $80 by the money lender depending on their business policy. It means that they instantaneously create a deposit of $10 or $20 as the case may be when they create a loan account of the borrower. It, therefore, corroborates the fact that loans create deposits.

This is actually extraordinary to meet the capital requirement by discounting and creating a deposit from its own loan. This is the own money creation power of the banks and the money lenders. The eventual effect of it is that it reduces the liability of the bank but does not reduce its asset.

Author Bio

Daniel Ng is a freelance writer who has been writing for various blogs. He has previously covered an extensive range of topics in her posts, including business debt consolidation, Finance, E-commerce, and start-ups.

Digital BrandingLegal Branding

How is Sitecore helping in putting the customers before products and sales?

Are you thinking of reinventing your customer engagement and reinstating your digital marketing approach? When you are competing with hundreds of reputed and popular brands online, you need to think beyond product quality. Any company that wants to retail online has to focus on their digital commerce architecture. It is nothing new, but it can be a ground-breaking concept for your sales. It can form the foundations of your online retail system.

All the online content a website has depends on its e-commerce architecture. Therefore, you must pick the right CMS to power your site. There can be several approaches to designing and maintaining an e-commerce site. That makes selecting one architecture among the many available ones challenging. The three most effective architectures include experience-led, commerce-led and API-oriented methods. What kind of architecture would you pick to power your digital retail platform?

Why should you revisit your site’s customer experience features?

Research shows that customer-experience oriented e-commerce architectures are most effective. However, the concept can be new to many. A digital experience platform (DXP) powers the customer-experience oriented architectures. It is important because this form of architecture can create a fully immersive experience for the visitors. It is the only way to amalgamate customer relationship with your brand. You might find the other experiences restricted since they do not share customer data sourced from the content marketing strategies, commerce, customer experience, CRM and ERP engines. It can create silos that do not communicate well with each other. Not paying enough attention to customer experience is a major faux pas that you should avoid at all cost.

In the case of a customer-experience first approach, the DXP feeds all the necessary data to the outside world. While using a DXP, you will enjoy several unique benefits that do not come with other forms of digital commerce architecture. The presence of a DXP enables fine control of the content and accurate content management. Coupling it with personalization can allow you to feed pertaining content to each user. In the event of introduction of new data, you can always set up an A/B test for testing the acceptance and effectiveness of the new content. In short, if you want to enhance your customer experience, adopting a customer-experienced led digital commerce architecture is the smartest way to go about it. It can offer rich experiences across multiple channels including desktops, mobiles, and the Internet of Things.

What makes Sitecore the best option for customer-experience first brands?

Here are a few benefits of leveraging the customer-experience led digital commerce architecture for your site –

It can provide a unified customer experience

Keeping customer data in silos can do no one any good. Your CRM should have access to that data. A DXP led platform like Sitecore can offer seamless and immersive customer experience to all your visitors irrespective of their location and product preferences. Accessing enough customer data in the form of their geo-location, and purchasing history allow the CRM engine to offer relevant products to your customers. Sitecore’s DXP oriented digital platform can extend personalized experienced on Android, iPhone, and other OSx. The CRM and CMS engines can source customer data across several channels including social media, email interactions and land-based POS interactions to perfect the digital marketing strategy of the brand.

Leveraging microservices for customer experience

While choosing customer-experience oriented digital commerce platforms, you need to find out how it interacts or utilizes the microservices. Microservices are 21st century’s answer to the legacy monolithic services. As their name suggests, the monolithic systems are uniform and huge. They can run several functions that share dependencies throughout the system. Since they are a single and massive system, managing it becomes costly as it grows in size. Adding new features and updates become challenging with each extra step. The primary cause of this difficulty is the tight coupling of the elements on the monolithic system.

As a result, the micro-services dependent architecture is becoming popular. They lack the unnecessary complexity of the monolithic systems. Microservices are self-regulating and easy to manage. Developers can create them by pulling each feature and function in independent subsystems. As a result, it is possible to make changes to one subsystem without upsetting the others residing on the same system. The user sees these microservices as one unified system, but in the background, these subsystems communicate via API calls. In the end, the microservice environment is more stable than monolithic systems due to the successful isolation of the subsystem elements.

Independent microservices make extension and addition easy

When working with microservices, the website developers can leverage the isolation of this architecture for extending each subsystem. It can reduce the amount of testing necessary to develop and run an e-commerce site. It allows the users to iterate quickly and accurately in significantly less time. It makes the digital commerce platform scalable and budget-friendly. It is a unique feature of Sitecore that allows the user to extend the platform and add new features to it without wasting time or energy. Any new trends and customer reactions can get the pertaining site-wide response or single page element response depending on the magnitude of the stimuli. The developer of the website can further streamline the extension of new features to customer experiences across several platforms. When using Sitecore, you can use the digital commerce platform for tracking customer behavior through print ad campaigns, social media strategies, email marketing methods, mobile app interactions, and non-core sites.

Sitecore experience is for everyone

While most of the benefits and information we have provided here are about B2C e-commerce, you can leverage a CMS like Sitecore to create powerful B2B websites as well. Working on customer experience naturally boosts the site’s SEO and helps the target audience find the site on Google search results. The commerce functionality of a B2C platform will differ significantly from a B2B platform, but the underlying digital architecture remains the same. Even with a B2B customer-experience led platform, the content will come via a DXP. However, it will depend on the site manager to fine-tune the e-commerce engine functions including repeat orders, organizational data, and varying pricing and shipping rules.

Digital BrandingLegal Branding

Social Media Marketing Advice To Ease Your Mental Health

Using social media in order to market your business may sound like a good idea, but sometimes, doing so can sap away your energy and lead to anxiety. If you find yourself anxious with a sense of dread before logging in, here are some of the ways that you can alleviate these feelings:

1. Take A Break

Though some online sources will have you believe that if you step away from your social media page your business will die, it’s simply not true! Only come back to social media marketing when you feel at ease doing so and can give it to you all. Sometimes, that feeling never comes, and that’s okay, too! There are other avenues in order to reach out to potential and existing clients. In the meantime, allow yourself to recharge by focusing on the more relaxing creative aspects of your business.

The fear of losing clients is real, but do keep in mind that the people who like you will follow you wherever you go. The people that were disinterested or casual dealing with your business were simply never serious in the first place!

2. Don’t Get Overwhelmed

One of the reasons that business owners dread the thought of posting online is simply because they have too many social media pages to create content for according to Chicago based psychologist Clarity Chi. However, one way to circumvent this problem is to become more selective and focus on one or two social media pages that you feel confident working with. For example, some business owners really like how concise Twitter is and it doesn’t need you to post photographs with every Tweet. You can let go of the pressures associated with running online social media accounts by channeling your energy into one or two pages. Most importantly, you can use this time to put more effort into building personal connections with clients.

3. Post Less With Quality Posts

Most business owners make the mistake of choosing to post several times a day in order to get better search engine rankings. Unfortunately, what everyone ignores is that making many posts in one day really just burns you out and in turn, your content quality will start to suffer. Only post when you have something informative to share with clients that they will find helpful.

Does your content matter? Take a moment to consider what you’re about to post, how it can help others, and whether it makes sense to let it go to the public domain. This type of self-reflection gives your content a much-needed boost. Build a network of solid friends equaling a few hundred versus a network of many friends. Numbers do cause undue stress and also make it hard to curate content in your feed that won’t cause depression.

4. Step Back For Creativity

Did you ever notice that the more time you spend online, the more doubtful and competitive you become? When searching through hundreds of feeds and pages a day, it’s only natural to feel like you’re not good enough compared to other people. Take a few days off and go back to the basics of your business. What is it that you love to do? Whether it’s web design or making pottery, get creative and lay the foundation for a better “you”!

5. Be True To Yourself

Authenticity is a word that we often hear, but it isn’t always applied to social media. When you post information online, you have to remember to be as honest as you reasonably can be. You create a persona when you post snippets of your life online, and you want people to connect with you, not just an entity. What causes the most anxiety when it comes to social media is putting up a fake front and acting differently from how you would normally act.

You can combat anxiety by deciding to be true to yourself as well as your brand while promoting your own personal values. Don’t forget that the pressure you put on yourself is the pressure that’s often reflected in your own social media posts.

Former CEO and co-founder of YouTube, Chad Hurley, described the feeling of pressure most people associate with social media the best. He explained that sometimes, you’re most effective when you ignore what others are doing. Many people copy the latest trends and jump on bandwagons without setting their own paths to success. The point is that you don’t need to mimic others when there are so many opportunities out there for you to individually shine.

Not everyone responds to pressure in the same way, but it’s clear that social media is not a one-size-fits-most solution to business marketing. Sometimes, we need to step back to really understand the role that social media plays in our business strategy development. Instead of choosing to follow the crowds, you need to evaluate how you want to proceed with your company’s marketing.