You’ve heard of senior discounts at cafes or for entrance fees at the museum, but what about airfare? If you’re a member of AARP, you can get up to $200 off some British Airways itineraries. If you’re 65 or older, you can potentially take advantage of senior discounts at three major U.S. carriers: Delta, United...
The article Southwest to Get Rid of Senior Fares. What’s the Impact? originally appeared on NerdWallet.
One of the benefits of Marriott’s credit cards is the yearly free night certificate, which is provided on the anniversary of when you opened the card and once a year thereafter. The value of this certificate ranges from 35,000 to 50,000 Bonvoy points depending on which card you have. You could use your certificate in...
The article 5 Best Uses of Marriott’s 50,000-Point Free Night Certificate originally appeared on NerdWallet.
Between ticket prices, hotels, meals and airfare, a trip to Disneyland can be quite costly for the average person. If you’re traveling as a family, airfare in particular can really add up. With the right points strategy, however, you can save quite a bit on this portion of your trip expenses, leaving more money for...
The article The Cheapest Ways to Fly to Disneyland on Points and Miles originally appeared on NerdWallet.
Veteran-owned businesses are an important engine of economic growth. New research from Experian has found that veterans tend to own and operate business with a larger employee base, and veteran-owned businesses have better longevity and sustainability than non veteran-owned business. (Experian analyzed and compared the credit data of veteran-owned businesses and non-veteran-owned businesses from 2015 through July 2019.)
Nearly 25% of veterans express interest in starting a business. That’s the good news. The bad news is entrepreneurship among younger veterans is on the decline. A report by Bunker Labs suggests one way to foster veteran entrepreneurship is through an “ecoystem” approach: “Taking an ecosystem approach to facilitating entrepreneurship requires ensuring that there is relationship density, strong network effects, and connected resources for entrepreneurs.”
Fortunately there are a growing number of free programs designed to help veteran entrepreneurs tap into ecosystems that can help them thrive. Here are 11 of these programs:
Boots to Business (B2B) is an entrepreneurial education and training program offered by the Small Business Administration (SBA) as part of the Department of Defense Transition Assistance Program (TAP). The course provides an overview of entrepreneurship and applicable business ownership fundamentals. It begins with a two-day “Introduction to Entrepreneurship” course, and after completing that course, participants may further their study through the B2B Revenue Readiness online course, delivered through a partnership with Mississippi State University.
Who qualifies: Active duty service members (including National Guard and Reserve), veterans of all eras, and their spouses.
Learn more: Visit SBAvets.force.com. To register, contact the Transition Service Manager (TSM) on your military installation.
This one or two day in-person course is offered off installation and provides participants with an overview of business fundamentals, while introducing techniques for evaluating the feasibility of business concepts. The course covers a range of entrepreneurial business concepts and provides resources for accessing startup capital, contracting opportunities, and more.
Who qualifies: Veterans of all eras, including National Guard and Reserve members, and spouses.
Learn more: Review the class schedule and register at SBAvets.force.com.
VETRN trains veteran small business owners and family members, free of charge, on how to successfully grow their own small businesses. This executive MBA program is based on the award-winning “StreetWise MBA,” which is taught in over 70 cities across the United States. VETRN has an exclusive contract to teach this management training program to veteran cohorts. Veterans accepted into the program receive a mentor on Day One and have access to a substantial professional resource network.
Who qualifies: In order to be accepted into the VETRN program, veteran small business owners must have been in business for one or more years, have at least one employee, and have annual revenues of $75,000 or greater.
Learn more: Visit Vetrn.org
One out of seven franchise businesses are owned and operated by veterans of the U.S. military. VetFran is a strategic initiative of the International Franchise Association (IFA) and includes over 600 IFA member companies that offer financial incentives, education, and support to veterans interested in franchise ownership and/or a career path in franchising. Navy Federal Credit Union is one such partner, providing startup capital for veterans who are buying franchises, as well as additional capital for franchise expansion.
Who qualifies: Veterans and their family members can use the extensive toolkit on the VetFran website to explore franchising, learn about discounts, and find franchise opportunities.
Learn more: Visit VetFran.org.
In partnership with the SBA, the Veterans Business Outreach Center (VBOC) Program is designed to provide entrepreneurial development services, such as business training, counseling, and resource partner referrals. Services include pre-business plan workshops, concept assessments, business plan preparation, entrepreneurial training, and mentorships, and more. There are 22 organizations participating in this cooperative agreement and serving as VBOCs.
Who qualifies: Transitioning service members, veterans, National Guard and Reserve members, and military spouses interested in starting or growing a small business.
Learn more: Visit the VBOC webpage on the SBA website.
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This program provides veteran-owned business executives with comprehensive instruction on how to accelerate their federal government contracting business skills. It offers three programs for veteran-owned small businesses:
Training for the three-day, in-residence training is offered at no cost to participants (other than travel to the event).
Who qualifies: Service-disabled veteran-owned small businesses and veteran-owned small businesses.
Learn more: Veteran Institute for Procurement
The Entrepreneurship Bootcamp for Veterans (EBV) offers small business management training programs for post-9/11 veterans and their family members. It includes three programs:
There is no cost to participate in these programs; however, EBV Accelerate participants must cover travel costs to the residency program.
Who qualifies: EBV applicants must have separated from service after 2001 and have a service-connected disability. EBV-F is available to family members of qualified veterans, including members of the National Guard and Reserve. EBV Accelerate is available to qualified veteran-owned businesses at least three years old with five or more full-time employees. (See full conditions for each program on website.)
Learn more: Learn about all three programs at the EBV website.
Bunker Labs, 501(c)(3) non-profit, a national network of veteran and military spouse entrepreneurs dedicated to helping the veteran community start and grow businesses. Programs include:
Who qualifies: Active duty military, veterans, and their families are welcome. CEOcircle is by invitation only, but applicants may submit an “interest submission” online.
Learn more: Visit BunkerLabs.org.
National Veterans Entrepreneurship Program (VEP) is a comprehensive entrepreneurship training and support program for veterans with a service-connected disability. It includes a self-study portion, eight-day residency program in Oklahoma, Tennessee, or Florida, followed by five months of support and mentorship. All travel, accommodation, meals, materials, and instructional costs are covered by the VEP.
Who qualifies: Any veteran with a service-connected disability.
Learn more: VEP at Oklahoma State University, VEP at University of Tennessee at Chattanooga, and VEP at University of Florida.
Since 2012, Patriot Boot Camp (PBC), a national 501(c)(3) not-for-profit organization, has been on a mission to create a community that advances and supports military members, veterans, and military spouses in their mission to become creators, innovators, and entrepreneurs leading the new economy. PBC’s core program is an intensive three-day technology entrepreneurship boot camp that culminates in a pitch practice and competition. Fun fact: Two alumni have appeared on ABC’s “Shark Tank.”
Who qualifies: Military members, veterans, and military spouses.
Learn more: PatriotBootCamp.com
The Vets First Verification Program provides verified firms owned and controlled by veterans and service-disabled veterans the opportunity to compete for VA set asides. VA also trains and certifies Verification Assistance Counselors to provide application assistance to SDVOSBs/VOSBs that want to become verified. Free counseling services are available to veterans free of charge at Procurement Technical Assistance Centers throughout the country. Free webinars and extensive educational resources are also available online.
Who qualifies: Veteran-owned and service-disabled veteran-owned small businesses.
Learn more: Visit the Vets First Verification Program website.
RELATED: New Job Website Helps Veterans Transition to Civilian Life
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A 750 credit score is considered excellent. Your credit score helps lenders decide if you qualify for products like credit cards and loans, and your interest rate. You are one of the 43% of Americans who had a score of 750 or above in 2019, according to credit scoring company FICO. Here’s how your 750 credit...
The article 750 Credit Score: Is It Good or Bad? originally appeared on NerdWallet.
The Aspire Federal Credit Union Platinum Mastercard® is designed for consumers with fair credit (typically, those with FICO scores from 630 to 689). While you won’t earn a sign-up bonus or ongoing rewards, it does come with a coveted “triple zero” combo: a 0% intro APR period, a promotional no balance transfer fee window, and a $0 annual...
The article 5 Things to Know About the Aspire Federal Credit Union Platinum Mastercard originally appeared on NerdWallet.
A honeymoon to Maui doesn’t have to be expensive. Plan in advance, apply for the right credit cards, and complete the spending requirements by charging your wedding expenses to these cards. With the right strategy, you can cover the cost of airfare, hotels, incidentals, and even activities with credit card points. Here’s how you can...
The article How to Use Points and Miles to Book a Maui Honeymoon originally appeared on NerdWallet.
A 680 credit score is considered fair, but it is very close to good credit territory. Your credit score helps lenders determine whether you qualify for products like credit cards and loans, and what interest rate they should charge you. You’re part of the 72% of Americans who had a score above 650 in 2019, according...
The article 680 Credit Score: Is It Good or Bad? originally appeared on NerdWallet.
Equifax, Facebook, Capital One, Yahoo — every week seems to bring news of another data breach. Millions of consumers’ sensitive information, such as login credentials, bank account info and Social Security numbers, is floating around the internet just waiting to be exploited. And 2019 is on track to be one of the worst years for...
The article Your Data Is Out There: Don’t Freak Out, Do Take Action originally appeared on NerdWallet.
Medicare coverage typically starts when people turn 65. People are automatically enrolled if they’re receiving Social Security benefits. Otherwise, they must enroll themselves. Most people opt for both Medicare Part A, which covers hospitals, and Medicare Part B, which covers doctor visits. Medicare Part A is typically free, while Medicare Part B requires paying premiums....
The article When Does Medicare Start? originally appeared on NerdWallet.
When we’re given a choice about our health care plans, we often choose badly. In one study, more than 80% of the employees at a Fortune 100 company picked the wrong plans, often choosing low-deductible options that ultimately cost them more. Another study found that inertia — sticking with the same plan, rather than evaluating...
The article How to Choose the Right Health Plan originally appeared on NerdWallet.
The day that discount shoppers have waited for all year is practically here. Black Friday — the day after Thanksgiving — has long been touted as one of the best times of the year for buying just about anything. But despite huge sales at nearly every retailer, it won’t be all deals during the 2019...
The article Win Big on Black Friday by Buying This — and Not That originally appeared on NerdWallet.
NerdWallet is here to help you win Black Friday, while leaving your budget intact. We spend the time, you save the money. Visit regularly for holiday shopping tips and announcements about your favorite retailers. Black Friday is Nov. 29. Costco Black Friday store hours Costco will be closed on Thanksgiving, Nov. 28. in observance of...
The article How to Get the Best Costco Black Friday 2019 Deals originally appeared on NerdWallet.
When we imagine ghosts, we traditionally think of disembodied souls haunting old cemeteries and ruined mansions, but times have changed. Today, more and more offices and places of business have become home to otherworldly spirits. Many people have heard of (or experienced firsthand) strange and inexplicable events in their workplace. Some folks enjoy the air of mystery these tales lend to an otherwise dull workday, but some are uneasy and avoid sticking around alone after hours for fear of an encounter with more than just the janitor.
Like their brethren that frequent cemeteries and old houses, office ghosts tend to do their haunting late at night. Apparitions, voices, footsteps, knocks, and doors slamming after most people have left for the day are some of ways these ghosts make their presence known. For people who are bothered by someone looking over their shoulder while they work, having an active office ghost about can be more than a little unnerving.
At the Eisenhower Executive Office Building in Washington, D.C., employees whisper about ghostly apparitions they say roam the stately building’s halls at night. Built in the French Second Empire style and located close to the White House, the nineteenth century edifice exudes an air of mystery. The resident ghosts are particular and seem to prefer the corridors of the building rather than any of the private offices.
The offices of one nonprofit business in Washington, D.C., are home to ghostly spirits who love to keep the office workers on edge. One woman, whose office on the third floor was known informally as “The Ghost Room,” reported being alone in the building one night when she began hearing the sound of slamming doors in the outside hall. She opened her office door and looked out, but saw no one. After closing the door she heard another door slam, and then the shuffling of footsteps approaching her door. While she listened, the footsteps grew louder and then softer as they moved down the hallway, followed by the unnerving sound of a female voice laughing.
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When the woman recounted her ghostly tale to co-workers the following day, she found that others had similar stories to tell. These included seeing a woman’s face in a window on the third floor, hearing a female voice calling out their name followed by footsteps running down the hall, and finding a coworker’s visiting child talking to an invisible woman in the third-floor conference room. One office worker quit after he kept finding the photos on his wall neatly arranged on the floor every morning when he arrived for work.
Theories abound as to why some spirits haunt particular office buildings. These include workaholic souls who had an affinity for a particular place, people who may have died suddenly or tragically in the building, or even those that lived (or died) on the same spot long before the modern structure was built.
An office manager in a doctor’s office was working late after everyone else had gone home. While filling out some paperwork, she looked up and saw an elderly man standing before her. Annoyed, she asked him how he had gotten in. He answered her with a sinister smile, then walked silently through the front door. Upon investigation she learned that an elderly man had died in the building years before and had a tendency to make regular appearances, especially around the anniversary of his death.
Office buildings aren’t the only businesses visited by ghostly spirits. One evening at closing time, a bank guard noticed an elderly woman dressed in black. He called out to the woman and told her the bank was closing and she would have to leave. As he approached her, she smiled and vanished right before his eyes, leaving him standing there dumbfounded. Whoever she was or had been, the ghost had no intention of ever leaving the bank.
Employees at the former Toys “R” Us store in Sunnyvale, Calif., were more than familiar with “the other side.” People reported seeing bathroom faucets turning themselves on and toys moving down the store aisles at night. Employees of this haunted toy store also reported seeing ghostly, fog-like apparitions and even free-floating Frisbees!
Some businesses such as Captain John Stone’s Public House and the Groveland Hotel embrace their haunted history and ghostly residents as a way to attract curious visitors. In these establishments the ghosts not only haunt the place, but have become an integral part of the success of the business.
RELATED: Is Your Business Haunted? Probably
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The day that discount shoppers have waited for all year is practically here. Black Friday — the day after Thanksgiving — has long been touted as one of the best times of the year for buying just about anything. But despite huge sales at nearly every retailer, it won’t be all deals during the 2019...
The article What to Buy (and Skip) on Black Friday 2019 originally appeared on NerdWallet.
The Oneworld alliance was founded in 1999 and has since grown to 13 airlines serving 1,000 destinations worldwide. You may be familiar with Oneworld because of its most prominent member, American Airlines, but there’s a lot more to it than that. If you want to know more about the Oneworld alliance, how you can get...
The article Your Guide to the Oneworld Alliance originally appeared on NerdWallet.
When you think of the Maldives, you probably envision crystal clear water and sandy beaches surrounding a beautiful, remote island in the middle of the Indian Ocean. Sounds like paradise, right? Well, paradise has its price. The Maldives is essentially a country of islands inhabited by high-end hotels catering to Western travelers. Translation: Everything is...
The article How to Book a Vacation to the Maldives Using Points and Miles originally appeared on NerdWallet.
The Marriott Bonvoy umbrella covers 30 brands and over 7,000 hotels, making it one of the largest and most well-recognized rewards programs in the world. After a merger with SPG and Ritz-Carlton, many frequent travelers wondered how Marriott’s new elite status program would work. Here we lay out (nearly) everything there is to know about...
The article Marriott Bonvoy Elite Status: Everything You Need to Know originally appeared on NerdWallet.
At long last, it’s time to feast on Thanksgiving, Black Friday and Cyber Monday deals. In a month that’s filled with sales, here are the categories to buy — and a couple to skip — over the next few weeks to get the most for your money. Buy: Electronics Electronics take center stage in November....
The article These Popular Gifts Will Be on Sale in November originally appeared on NerdWallet.
If you’re a frequent traveler, it used to be an easy decision to go for status in an airline’s loyalty program. Status benefits were generous and not easily obtained by anyone who didn’t fly a lot. Domestic upgrades were more frequent because airlines had very high (and infrequently purchased) first class fares — and you...
The article It’s Nearing the End of the Year. How Is Your Status Stacking Up? originally appeared on NerdWallet.
What’s the benefit of hiring young employees? They can bring fresh ideas and talents to your small business. And by providing them with the right direction and support, you will bring out the most of their abilities and also give them the space to learn and grow.
To find out more, we asked members of YEC Next the following question:
I make sure that everyone on my team knows they can ask questions—any question. Confidence is often the first thing someone needs when they’re tackling a new endeavor. Being resourceful builds knowledge and forges the path of learning how to take initiative, which is an essential element for personal and professional growth. When they’re collaborating with the team, they know they have support. —Angela Delmedico, Elev8 Consulting Group
Start a project together and give clear direction and guidance on the outcome that needs to be produced and what needs to be done. Then back up and let them work, making sure they know you are there to help answer any questions along the way. Guide them at key milestones so they’re on the right path. Then get back together to review and finalize the work. —Todd Giannattasio, Tresnic Media
When managing employees, including younger generations, it’s essential to establish the framework of the working environment. To ensure younger employees have a balance of structure and agency, collaborate on outlining project objectives and then brainstorm ideas on how to achieve them. Then, within those parameters, let them show you how they can reach your overall goals using their unique skill sets. —Kyle Wiggins, Keteka
Younger generations need an opportunity to showcase their capabilities and contributions, but they also need supervision to keep projects in line with the company goals. Supervision helps you to discover hidden skills; additionally, it allows you to see where an employee might grow within a role and beyond. Performing tasks by themselves will help them overcome everyday challenges. —Jessica Baker, Aligned Signs
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A great way to get younger generations to give their all is to give them a meaningful title and make them feel important. When they feel in charge of something, it’s more likely that they’ll try harder to do a good job because it’s under their control and their reputation is on the line. They will still need to report to you, but giving them a title for a specific responsibility is a good idea. —Ajmal Saleem, Suprex Learning
Set goals and objectives that are shared between yourself and each individual. Your tasks will be mainly compliance and approval, but it will feel like a team effort. Most younger people and millennials appreciate teamwork over being bossed around and are very responsive to rewards or positive comments. —Jose Magana, Yellowberry Hub
It makes sense for employers to feel wary about giving too much power to their young employees. While young people are eager to work, there’s still a lot they have to learn. But certain aspects of modern business are better suited for them, one example being social media. Young people use these platforms as if it’s their native language. They should be empowered to manage what they know best. —Bryan Driscoll, Think Big Marketing, LLC
RELATED: How Business Owners Can Earn the Loyalty of Their Millennial Workers
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By Jeff Swiggett
You would love to operate your own business, and over the years you’ve set aside money to invest in a company to fulfill this lifelong dream. And when it finally comes time to buy a business of your own, you’re left with two options: investing in a franchise opportunity or buying an independent business.
While both options put you at the top of the corporate ladder, they each have their own unique advantages and drawbacks. Learn about the pros and cons of each to help you determine which option is right for you.
Franchises are essentially ready-made businesses. You don’t have to develop a new service or product that fulfills an existing problem. Instead, a franchisor provides the business model, training, assistance, and even market research. The products and services have already been developed, and the business typically has an established brand and customer base. When it comes to jumping into a more managerial role with established work processes, marketing strategies, and advertising, a franchise definitely has its benefits.
So, what is left for you to do as a franchisee? Of course, you’ll still have a lot to manage within the business. Just like a standalone business, you’ll need to:
Establish financing. This step is often easier since the franchisor already has a business plan and market research that investors want to see.
Decide on a location. While many franchisors offer support and research to help you choose the best location for your new business, you may still need to do some legwork to locate the best site.
Build or lease. Leasing a property will usually be more cost-effective; however, the operations may require a more specialized space, and there may not be any existing buildings for lease that fit the requirements.
Hire employees. The number of employees you hire will be based on the size and complexity of the operations.
Purchase or lease equipment. The franchisor will typically supply you with a list of equipment suppliers or distributors where you can purchase everything you need to run the business.
RELATED: Important Questions to Ask Before You Buy a Franchise
There are several drawbacks when it comes to franchises. The most significant disadvantage is that you don’t have total control over how you run the business. After obtaining financing, hiring employees, and receiving training, you will still have to follow the rules set by the franchisor.
Franchisors will provide you with a Franchise Disclosure Document (FDD). This extensive document tells you all of the policies that you will have to abide by while running your business. It also outlines your responsibilities as a franchisee. If you decide to accept all of the regulations and fees, the franchisor will provide you with a formal franchise agreement.
Another disadvantage is that you will have to pay ongoing royalties and share your profits with the franchisor. Also, you should keep in mind that there will be other franchisees who have purchased the same business model. If another franchise owner operates their business poorly or develops bad PR for the brand, their negative reputation could impact your operations.
Lastly, the franchisor has the option to cancel your contract after the specified business term. So, you could love what you’re doing only to find out that the franchisor no longer wants you running the business.
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If you decide to buy a non-franchised, independent business, you get to make all the decisions. Purchasing an established business offers many of the same benefits as a franchise, but allows you to have complete control over the future of the company. From start to finish, business operations will rely on your knowledge and experience.
When you buy an existing business, everything is already set up for you. The business location, suppliers, operations, business model, and products or services will all be in place from the minute you sign the final paperwork. You will also have existing branding and (in some cases) a marketing strategy to fall back on. However, before you jump at the opportunity, it’s best to perform your due diligence and ensure the business will be profitable going forward.
One key advantage of buying an independent business versus a franchise is you don’t have to share your profits. You can also operate the company for as long as you want without worrying about having to renew a franchise agreement. And with complete autonomy, you can let your creativity and innovation shine when it comes to marketing and advertising your brand.
Before you purchase an independent business, you should be aware you won’t receive any formal training for operating the company. While you could attend general business seminars or work with the former owner during the transition process, you won’t have the continuous support of a franchisor.
You will also have to find investors and lenders if you are seeking financing and working capital. Investors and lenders will want to see a business plan that outlines what your company is about, what services and products you offer, the current three- to five-year market potential, and future market revenues you will bring in. This is no problem for existing businesses that have seen consistent success. However, if you choose to buy a failing business, you may struggle to obtain the financing you need.
In the end, you’ll have more control of your business, but you also will have to accept all the risks.
RELATED: Buying a Business? 5 Essential KPIs You Need to Review Before You Buy
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You may feel like you’ll be paying off student loans until the day you die. But even that may not be the end of it. It all depends on the type of loans you have and the lender, says Adam Minsky, a student loan attorney with offices in Boston and New York. “The first step...
The article Your Student Debt Doesn’t Always Die With You originally appeared on NerdWallet.
For those who need to evacuate areas of California that are affected by dangerous wildfires, your stash of points and miles may be the last thing on your mind. However, those points may be just the ticket to get yourself and your family out of harm’s way. If you’ve been evacuated from the affected areas...
The article How to Escape the Kincade Fire Using Your Airline Miles originally appeared on NerdWallet.
The average debt for veterinarians in the class of 2018 who took out student loans was $183,014, according to the American Veterinary Medical Association — an increase of almost 10% from borrowers in the class of 2017. Including students who didn’t borrow drops the average student loan debt for veterinarians to $152,398. Neither total includes...
The article What Is the Average Student Loan Debt for Veterinarians? originally appeared on NerdWallet.
You’ve seen the ads, and the sign-up bonus on that travel credit card is just too tempting to pass up. But the initial spending threshold required to earn the bonus might seem nearly impossible to reach. Some cards require you to spend $1,000, $3,000 — even $5,000 or more in just a few months. But...
The article 10 Ways to Meet a Credit Card’s Minimum Spend Requirement originally appeared on NerdWallet.
By Jesse Wynants
U.S. data tells us there are six PR pros for every one journalist. This PR number has doubled in 10 years all the while newsrooms are shrinking. So what does this tell you? PR is becoming more and more tricky, which is bad news for all the businesses out there committing common PR mistakes over and over again.
The following are four PR mistakes that I have come across over the years and tips on how to avoid making them.
Cold sales calls have a bad rap because people dislike getting calls that are a complete waste of their time. The seller has no understanding of you, your business, or your needs—it’s just sell, sell, sell.
And this is exactly what’s happening in the PR world. Journalists are being hammered with completely misguided pitches—stories not relevant to the journalists’ beat, resulting in poor results. And then people end up saying, “PR doesn’t work” or “I don’t understand why my IT sales brochure didn’t get coverage in the food industry publication.”
In order for your PR pitches to be more successful at hitting their targets, you need to first understand the journalists. Many people assume that journalists have no material to write about or have no quality pitches to use. That’s wrong. Journalists have plenty to write about—from day-to-day events to their content calendar which is preplanned months ahead of time. If you blast out your press release to anyone and everyone, you’ll end up giving yourself a bad name among a wide number of people. Not understanding a journalist can be the difference between pitching to a highly relevant industry outlet and pitching a children’s comic.
Next you need to hit the right publications. When seeking out PR opportunities, we are all guilty of favoring the big media outlets that everyone is familiar with. They offer “bragging rights” and have more reach than small, industry-focused publications. However, responses will be few and far between, and to get coverage requires a lot of hard work without much guarantee that you will get coverage at all.
Instead, focus on key media outlets that will be more open to discussions and topic suggestions, and seek industry experts for commentary. Whilst the readership numbers may be nowhere near the size of the big outlets, you will build long-term relationships and brand awareness within your industry.
Tips to try: Research and more research. Stick to industry outlets; they provide good practice to getting bigger outlets interested. Working with them you’ll begin to understand what makes journalists tick, what materials they like, what types of pitches work best, and so on. If you pull up a spreadsheet of industry magazines and blogs, you are going to be looking at a handful of media outlets. Great. Check out the different posts, see who writes about what, and find connections. Even if you find a post with some questionable insight or metrics, you can reach out and provide your own expert advice.
Unfortunately, your company milestones may not be exciting to others, your sales brochure is not PR-worthy, and the metrics you just stitched together are not of interest to anyone. This is often the case with PR pitches, especially with startups that believe what they are doing is revolutionary—which it may be—but are there reputable data and case studies to share and discuss? Probably not. And general industry data or prediction reports will not work either.
Tips to try: Ask yourself the hard question: Should this be a blog post? Most PR pitches would do better as a company update that lives on the company blog. Don’t be disheartened by this because the benefit is with a small budget you can reach a large audience through paid social. If you do the research and know your customer base and believe they would like to read about your news, put it in your blog and see how it performs there. It could eventually evolve into a bigger story or opportunity.
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Having a journalist’s email address is not the same as having a relationship. Relationships are created by building rapport, which is easy to achieve once you understand the needs of the journalists. Speaking to them with a short intro about your company and yourself, and providing regular feedback or opinions, will help solidify your expertise.
There is often a real lack of focus on building relationships when it comes to PR people and news organizations. Most PR people forget about the basics and bombard journalists, expecting instant replies, coverage, etc.
Tips to try: Search for industry media, including blogs, and put them in a spreadsheet. Also spend some time reading articles and posts to understand what people are writing about and how they write. Most outlets will have search bars where you can find topics and articles that are relevant to you. Add their links to your spreadsheet and also include the names of reporters. Once you have complied this information, you can begin reaching out to journalists. Refer to relevant posts when you can and show how you can be useful to them.
If you do the research, then you are already miles ahead of many others who are trying to get some PR coverage. The next step should be easier, although it tends to still cause some problems. It’s called the pitch.
Pitching is both an art and a science. The art is your actual press release, while the science is the research you conduct. If you decide not to give either of these that much attention, then your pitch will be poor since you will have no general information to share or even a reason for your outreach.
Tips to try: Your pitch should start with a short intro that’s the followed by the main content, containing any critical information, and then conclude with a closing statement. Practice pitching by not actually pitching your business or product. Instead focus on pitching useful content that that could be used by a journalist in a future article. If you can have conversations with journalists and establish relationships with them, your pitches will be more effective.
Take the time to research your desired media outlets, find a fit, and then figure out what you can provide, whether it’s expert opinion and commentary or full-fledged industry reports. Whatever it is that you can provide, spend the time and energy to get it right.
RELATED: 16 Creative Ways to Get Press Coverage for Your Small Business
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You’ll be automatically enrolled in Medicare at age 65 if you’re already receiving Social Security. If you aren’t receiving those benefits, you can enroll in one of three ways: Applying online at Social Security’s site. Calling Social Security at 1-800-772-1213. Visiting a local Social Security office in person. The online application typically takes less than...
The article How Do I Sign Up for Medicare? originally appeared on NerdWallet.
With Thanksgiving fast approaching, it’s time to book travel before rates and fares get outrageously expensive. If you don’t need to visit family in a certain location for the holiday, why not ditch the cooking and spend your long weekend on vacation? Here are a few of our favorite autumn destinations to check out. Gatlinburg,...
The article Ditch the Turkey: 6 Ideas for a Thanksgiving Getaway originally appeared on NerdWallet.
With Thanksgiving fast approaching, it’s time to book travel before rates and fares get outrageously expensive. If you don’t need to visit family in a certain location for the holiday, why not ditch the cooking and spend your long weekend on vacation? Here are a few of our favorite autumn destinations to check out. Gatlinburg,...
The article Ditch the Turkey: 6 Ideas for a Thanksgiving Getaway originally appeared on NerdWallet.
The trip to Middle Earth just got a lot shorter for East Coast-based passengers. For the first time, travelers will be able to fly nonstop between the New York area and Auckland, New Zealand. Air New Zealand is launching a new nonstop from Newark to Auckland in October 2020, with service three times a week,...
The article Air New Zealand to Launch Newark to Auckland Flights originally appeared on NerdWallet.
Historically, Capital One miles have only been redeemable as “cash” points, typically for 1 cent per point. So points earned from the Capital One Venture card or Capital One Spark cards would be redeemable to offset cash purchases made for travel. A 50,000-point welcome offer meant that you could use those points to offset $500...
The article The 4 Best Capital One Transfer Partners — and 7 to Avoid originally appeared on NerdWallet.
You’ve got financial questions. The internet’s got answers. So do friends, family members and late-night TV money gurus. But sometimes you need a professional who can provide money advice that’s tailored specifically to your needs. That’s where a financial planner comes in. What does a financial planner do? A financial planner guides you in meeting your...
The article What Is a Financial Planner, and Do You Need One? originally appeared on NerdWallet.
The trip to Middle Earth just got a lot shorter for East Coast-based passengers. For the first time, travelers will be able to fly nonstop between the New York area and Auckland, New Zealand. Air New Zealand is launching a new nonstop from Newark to Auckland in October 2020, with service three times a week,...
The article Air New Zealand to Launch Newark to Auckland Flight originally appeared on NerdWallet.
As outrage over the Volkswagen emissions-cheating scandal fades, the refurbished diesel vehicles are trickling back into the marketplace, and bargain hunters may want to snap them up. In 2015, Volkswagen was forced to either buy back or fix some 590,000 diesels after it was discovered they had been rigged to pass emissions tests. The diesels,...
The article Should You Snap Up a Post-Scandal Volkswagen Diesel? originally appeared on NerdWallet.
VA loans make homeownership possible for thousands of veterans and military service members every year. The loans have no down payment or mortgage insurance and often have lower mortgage rates than other home loans. Besides those well-known benefits, you can use a VA loan to buy a fixer-upper or renovate your current home. Here are...
The article 4 VA Loan Options for Home Improvements originally appeared on NerdWallet.
For true-blue Walmart fans, the Capital One® Walmart Rewards™ Mastercard® is a value magnet, whether you shop with the retailer in-store or online. After all, you’re earning rich rewards on many already discounted items. Those rewards include: 5% back on Walmart.com and Walmart app purchases. 2% back on in-store purchases at Walmart (including at Murphy USA and...
The article New Walmart Credit Card Earns Solid Rewards. Here’s How to Maximize Them originally appeared on NerdWallet.
One of the best perks of carrying certain Marriott Bonvoy credit cards is the annual free night certificate, which is worth 35,000 or 50,000 points depending on which card you have. The free night award provides a lot of flexibility for award travel. For example, you could use it cover one night on a hotel...
The article 5 Great Uses of Marriott’s 35,000-Point Free Night Certificate originally appeared on NerdWallet.
As you scan the crowded pages of Google search results for a low-cost loan, it can be difficult to decipher reputable lenders from predatory ones. These lenders, who use abusive or unfair practices, offer loans with high rates and excessively long or short repayment terms that make the lender money but leave the borrower with...
The article 5 Signs an Online Loan Is a Debt Trap originally appeared on NerdWallet.
Chase Ultimate Rewards® are one of my favorite points currencies for a variety of reasons. First of all, there are many different credit cards that allow you to earn Ultimate Rewards®, which makes them one of the easiest points currencies to accrue. Also, many of the cards come with good benefits and category bonuses. And...
The article The 5 Best Chase Transfer Partners — and 4 to Avoid originally appeared on NerdWallet.
Walmart sells virtually every household item you could ever need, from groceries, electronics and cosmetics to party supplies, auto parts and even gas in some cases. The Capital One® Walmart Rewards™ Mastercard® aims to reward you more for those purchases, especially if you skip the maze of aisles in favor of shopping online. The $0-annual-fee card — which has replaced...
The article Walmart Sells Nearly Everything, but Is Its New Credit Card for Everybody? originally appeared on NerdWallet.
For true-blue Walmart fans, the Capital One® Walmart Rewards™ Mastercard® is a value magnet, whether you shop with the retailer in-store or online. After all, you’re earning rich rewards on many already discounted items. Those rewards include: 5% back on Walmart.com and Walmart app purchases. 2% back on in-store purchases at Walmart (including at Murphy USA and...
The article New Walmart Credit Card Earns Solid Rewards. Here’s How to Maximize Them originally appeared on NerdWallet.
By Eden Amirav
Poor cash flow management is the number one reason small businesses fail, causing 82% of business failures, according to a U.S. Bank study. How can you as a small business owner or manager mitigate this risk? How can you improve your company’s cash flow? First of all, you need to understand exactly what cash flow is (and isn’t).
According to Investopedia, ‘’Cash flow is the net amount of cash and cash-equivalents being transferred into and out of a business.” In a nutshell, it represents a business’s liquidity: the cash flowing in and out.
Cash flow is not revenue or profit. One source of a business’s cash flow is revenue, but there are many other sources, including, for example, the sale of business equipment. Another difference is cash flow is bidirectional in that it flows in and out and can become a negative number, while revenue is just an inflow.
Now that the definitions are out of the way, let’s explore how you can keep your business cash flow positive—in other words, keeping your cash inflow greater than the outflow. A good start is examining the sources of a business’s cash flow.
Cash from operations. This is cash generated from sales after paying off the costs of goods, any taxes due, loan interest, and all other relevant expenses. But cash from operations differs from profit or income because those measurements do not necessarily reflect cash in hand. For example, your income statement could show that your business made a profit, but if your customers don’t pay on time, your business could actually run out of cash after you pay your suppliers.
Cash from investors. Any cash earned through investing falls under this category, including cash generated through the sale of business assets, e.g., equipment, property, or securities. Conversely, any cash used to buy assets, such as property and equipment, is a cash outflow. Intangible assets also fall under this category, such as cash used to purchase intellectual property or to build your brand.
Cash from finances. This includes any cash generated through a business loan or credit lines. The sale of company stock or the sale of bonds to investors also counts as cash from finances. When you pay off any debts, this is also cash outflow from financing.
Even though these are the typical cash sources, they can differ from business to business based on many factors, including business age and type of business. For example, a new business would typically generate less cash from operations and more from finances through loans or investors.
You can’t improve something that you don’t understand, so it’s essential to monitor and measure your business’s cash flow. This doesn’t have to be time consuming if you use one of the many tools available, such as QuickBooks or FreshBooks. You can also hire an accountant to help you.
To monitor your business’s cash flow on your own, follow these tips:
Aside from monitoring your cash flow, you can also make cash flow predictions, known as cash flow forecasting.
Much like you can monitor your cash flow on an ongoing basis, you can also create a cash flow forecast or projection to ensure you don’t run dry. We recommend forecasting 12 months ahead. More than that may be counterproductive as there are too many unknowns and changes that can happen in a business over time.
Here’s how to create a cash flow projection or forecast:
[Total Cash Inflow] – [Total Monthly Expenses] = [Cash Flow Forecast]
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Now that you have an understanding of the sources of a business’s cash flow, you can think about how to increase it. Here are some tried-and-tested strategies:
Increasing your incoming cash is an obvious, yet not standalone, tactic. Here are some tips for doing so:
To remain cash flow positive, you not only need to keep your expenses to a minimum but also to manage them effectively by:
If you’ve done all these things but still can’t manage to keep your head above water and are at risk of negative cash flow, there are other ways to increase your cash inflow:
Apply for business funding: There are many types of funding options for small businesses, including lines of credit, business loans, business credit cards, and invoice factoring.
Sell old, outdated inventory at a discount: You can sell your old inventory to your customers or sell it online to a surplus inventory company.
Sell off old, unused equipment.
Sublet office space: For example, a hairdresser can sublet a section of the salon to a nail studio or beautician.
The key to your business staying cash flow positive is proactivity. Don’t wait until you run into cash flow problems to take action. Rather plan ahead with cash flow forecasting, monitor your cash flow continuously, and have creative strategies in place to keep your cash inflow up and your cash outflow to a minimum. Bear in mind there will likely be some surprises along the way, so ensure you have a comfortable cash cushion in place to keep your business going through the rough or unexpected patches. This is what distinguishes the successful businesses from the unsuccessful.
RELATED: The Best Ways to Finance Cash Flow Emergencies
The post How to Better Manage and Improve Your Business’s Cash Flow appeared first on AllBusiness.com
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