Business Networking Sites

Business Networking Sites

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You’re hopefully at this point utilizing some aspect of social media networking for your business. There is absolutely no getting around just how essential social media has become to the continued health and growth of businesses of all sizes and types.

How Is Your Social Media Portfolio?

At the very least, your business should have the social networking essentials. No matter how big or small your business might be. No matter what your specific marketplace might entail. You should have the social networking essentials. You should almost certainly have a Facebook page. This is still the primary social networking hub for the world. It should be part of your social networking plan, whether you’re interacting with customers, visitors, or even similar businesses. Twitter and Google+ should also be a part of your social media portfolio. The fact that these sites are viable social media tools for networking isn’t likely to change anytime soon.

But is that all there is? Does your social media networking need to go beyond the basics?

You can think about it if you like, but since the answer to the above question is likely yes, it might be time to start thinking about things that can actually enhance your social media networking. Facebook, Twitter and Google+ are all nice, but it might be time to consider some possibilities that are a little more specific to the world of business.

Social Networking Sites For Your Business

You might be surprised at just how many social networking sites have emerged with the primary focus on social networking opportunities for businesses. Social networking isn’t just for the giants anymore. It has become a means of connecting for specific religions, political views, and even for businesses.

At the very least, some of these social networking sites for businesses are worth investigating further:

• Biznik: A great social networking opportunity for small businesses and entrepreneurs.
• Cmypitch: Entrepreneurs can meet here for quotes, advice, and more.
• Sunzu: An opportunity to share knowledge, build contacts, and more.
• JASEzone: A community designed around finding clients and business partners.
• Ryze: This business networking site gives its users the chance to network based on location, interests, and employment history.
• XING: 7 million members comprise this European business networking opportunity.
• Young Entrepreneur: Small business owners and up-and-coming entrepreneurs can get together here for some considerable business networking opportunities.
• PartnerUp: Another fantastic way for small business owners and young entrepreneurs to meet, connect, and potentially work together.

Using Social Networking With A Business Slant

No one is saying these business social networking sites are absolutely critical. But if you find your business struggling to break out of the pack, if you find yourself looking for ways to connect to both consumers and similar businesses, any one of these sites could help you get the ball rolling. There are several other social networking sites for businesses out there, but any of the above would be good ways to test the waters of this intriguing possibility.

How To Build Business Credit

Building Business Credit

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Most startup businesses encounter difficulty when seeking approval for business loans from banks. This should not surprise anyone as lenders are often stricter because they dislike the idea of getting higher exposure to risks. It is not impossible to get sought-after approval for loan applications but it may take time and it may be too tedious for any business owner.

Building business credit is one way to make it easier for any business to seek approval for bank loans. Lenders run credit investigations before approving loans and that is where the process stalls. If your venture has a reliable business credit, you can be sure you can access financing anytime you need it.

Funding Instantly offers a free consultation for business funding and effective ways for building business credit. If you want to avoid being rejected when applying for a loan from any lender, here are helpful tips that can serve as your guide.

1.     Improve your personal credit score.

Lenders will look at the personal credit rating of the business owner. That is highly possible if the venture is a startup or if it lacks its own business credit. Thus, before approaching any loan provider for a business loan, be sure you have a good credit history. Lenders will always be mindful of any borrower’s reputation and credibility especially when it comes to handling finances. The credit score can say a lot about your financial management skills. If you have investors or business partners who own more than 20% of your business, they may also be subject to a credit check.

2.     Seek credit before you actually need it.

Apply for any form of practical and logical credit soon after establishing your business. Doing so will help you immediately build a business credit history. Small businesses usually take up to two years before gaining the confidence of lenders. Obtaining a business credit card or getting a very minimal bank loan can speed it up. Your business needs to demonstrate its effective financial management capability. To accumulate positive credit scores, it is wise to get very small loans or credits and pay those immediately. That is why many businesses now take small loans even if they are not yet needed.

3.     Have financing relationships with more lenders.

Don’t rely on just one loan provider, although loyalty pays off. Most of the time, lenders instantly change their lending policies and you may have a hard time accessing financing when you need it most. You may get a business credit card from a major bank and a business credit line from a credit union or local bank at the same time. Just be sure you have a fallback when your lender suddenly declines your loan application.

4.     Find available alternatives.

Banks are not the only providers of business loans. You may consider non-traditional loan providers that offer and provide business credit at lower rates and better terms. Asset-based lending and crowd funding are possible options you may take if those are available in your area. Just make sure those loan providers report to credit agencies and that your diligent payments will reflect on your business credit scores.

The bottom line is that if you want capital for your business, it starts with building business credit.  Now that you've reviewed the options, you can make a wise decision as you move towards a successful business.

Business Strategy

Business Strategy

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Are you planning to start a small business? Before you finally take the steps to do so, you should first determine and adopt a good business strategy that will guide your enterprise. It may not be enough to focus on your products or services. There has to be a guiding principle that can lead your venture to the path of success.

Here are three effective strategies that your small business should observe. Each business strategy is simple, yet logical and effective. Interestingly, you don’t need to spend more to implement these. Your small startup business can gain the edge especially when your competitors obviously fail to follow and adopt these practical business strategies.

Focus on customer service

Your small business would be on a similar playing field as major companies and a plethora of other small to medium sized businesses. There could be intense competition. But you may have the big advantage over all of those. As the owner and manager, you make your own business decisions on your own and instantly. Your small business can easily and quickly make and implement strategies without going through a long and tedious approval process.

To stand out, woo your prospective customers by providing excellent customer service. That is one area where you could be on the same ground with even the biggest competitors. Deal with clients personally and give them the best value for their money. Your customers would certainly appreciate it.

Bite off just what your business can chew

Don’t fall to the usual mistake of small businesses. It could really be tempting to take larger job orders that are beyond your current capacity. Aspiring too much to compete with other businesses may be enticing but it can invite more risks. Remember to make all your business aspirations correspond to present capabilities.

Try not to take more than your small business can actually handle. If you still decide to do so, you might lose not only time but effort and money. The business’ reputation would also be in danger especially when your business fails to deliver. Thus, it is a good business strategy to work only within your limitations. This way, you can do your best and keep your customers happy.

Be a good example

Your small business may rely on the output of your small team. It is an ideal business strategy to motivate your staff well so they could be more productive. Because you would be working with a very small group, try to set a good example. As a leader, you need to give guidance and be a role model to your employees.

Work hard so your team will follow suit. You may not command respect and credibility by slacking off. Make your staff feel that you are really part of the team. If your business needs to achieve goals, be the leader to do so. And of course, don’t forget to always treat your staff well. It’s always better when you earn their trust and loyalty.

These are just a few examples of business strategy that you can apply.  Remember, always keep learning and searching for new strategies to ensure your business is successful.