iNBEE Financial

Building Excitment & The Most Underdeveloped Sales Tool

2012-01-14T09:46:00.000-08:00

In salesthere is a secret formula that top performer’s model for prospecting. This secretformula is simple to implement, however it takes years of research to uncover.We have finished the years of research, and are about to hand it to you on asilver platter. I must warn you, to be effective with this information you mustuse it right away. As the old saying goes if you don’t use it you lose it.

Firstbefore giving you the 9 secrets to developing a prospect, let me provide thefoundation for the information you are going to be implementing. The foundationstarts with Building Excitement and The Most Underdeveloped Sales Tool! Listen to this podcast and improve your sales.

Tip 7: The Take Away Close, Not the “Take- it- or- Leave- it” Close.

2011-12-27T10:05:00.000-08:00

Excerpt From the Ebook- "7 Tips to Close Every Sale."

This next tip is probably the most misused closingtechnique. Used correctly though, it canexponentially catapult your income. Thisis one of the most difficult techniques, but it can be very effective.

Tip 7: The Take Away Close, Not the “Take- it- or- Leave- it”Close.

The Take Away occurswhen you remove the product offer from the client psychologically, during yourpresentation, and then remind them of this fact at the close. It is important to remember that this is notthe “Take-it-or-leave-it” close. It is moreof a “sense of urgency” close. Thistechnique has to be instilled by your company’s management. You must present acompelling reason for them to buy today and then amplify their desire for theproduct or service. When you remind the prospect that they could miss out onthe special, they almost feel compelled to buy your offer!

Try this: Mr.Client we have a special running this week if you purchase ABC we can includeXYZ but you must purchase now as there is a timeframe on this offer. If we can get the application today, we canensure the pricing that we have talked about. But the agreement we have with the leasing company states, “With theeconomy, their rates could increase tomorrow.” Yikes! You would have to pay a higher price!

Please use thetake away properly.

Bottom line: a sale is a critical function that ismore of an art than a science. And please share any of the sales tips you’velearned with your staff, friends and loved ones who meet with prospects.

How Equipment Dealers Increase Sales With iNBEE Financial

2011-12-19T12:35:00.000-08:00

Want to increase sales: this video explaines how we fund the deals banks turndown everyday.

How to Make Value Goal Setting a Part of Your Business

2011-12-08T07:41:00.001-08:00

It'stime to build your road map. You need to set some value goals that support thevision you created.

By now you've created a clearvision of where you're going to take your business, and how it's going to lookwhen you get there. You've also learned a proven, step-by-step five-part formula formaking that vision a reality. You're getting close to the end of theorganization stage, and closer to great content that drives: (Step-one) Lead Generation.

Now......... First, you have to map out theroute that you're going to take to achieve your vision, and establish whichlandmarks will tell you that you're headed in the right direction. You've got to set somevalue goals.

In this class we will cover:

What are value goals and why set them?
How is a value goal different from a vision?
Areas of your business that need value goals
What happens when I achieve a value goal?
The impact of positive thinking
Autosuggestion techniques and exercise
Visualization techniques and exercise

Goalsare specific, attainable targets that bring you to your vision. They're themilestones (or landmarks) you need to reach along the way.

There are a lot of busy people out there. I’m sure you’re one of them. Just being busy is not accomplishing your goals. You know that but why? I know you work hard just like everybody else, and it seems like the only way to be successful is to “GET LUCKY.”

I was told a long time ago that LUCK is when: Living, Understanding, Connecting, & Kindness enjoy each others company or to put it in simple
terms: “When opportunity meets preparedness.”

Living- breathing, moving, thinking, and learning.

Understanding- knowing the opportunities, knowing something, and putting it to use.

Connecting- finding the right situation.

Kindness- knowing that you must put the needs of other first.

Alright, alright, alright……how does all this tie into goal setting and being successful.
When you set goals it is important to attach a value to that specific goal. Simply saying I want to buy a house is an idea but it is not a goal. Let us think about this for a second. What are your values????

Do you value family, wealth, security, teamwork, planning ect…… Now that you have determined some of your values…..every goal that you set should be formed around those values.

If you value

Family: I want to save/earn enough income so that I can help my family
Wealth: I want to save/earn enough income so that I can obtain wealth
Security: I want to buy a home so I have security

When you attach values to your goals the goals you set become important to you.
When you are working on value-goals those opportunities to get lucky open up.

Get lucky set a Value-Goal!!!

value goals focus your efforts andintentions, and direct your motivation in a productive direction. value goals outlinea plan of action, while dreams are conceptual visions.

Your value goals are the milestones youwill reach along the way to achieving your vision. They break down the processinto smaller pieces; the little successes en route to the big success story.

Goalsare different from your vision.

It can be easy at first to confuse abusiness vision with a value-goal. They are both projections of an ideal futuresituation that you have created based on your dreams.

Goal	Vision
Value goals are specific, measurable targets that a person or business sets out to achieve, that are structured around the emotional impact they will have on the goal-setter, because they reach the deepest values of the person. Value goals support the greater aspirations set out in the business vision statement.	A vision statement is a broad, inspiring image of the future state a business aspires to reach. It describes without specifying how aspirations will be achieved, or when. A vision is dream of what the world would like like with your business reaching full market share.

Harvard Studies have shown that only threeto five percent of people in the world have written goals - the same three tofive percent who have achieved success in business and earn considerablewealth.

Setting strong value goals and committingthem to paper and your sub-concious is the most effective way to achieve any form of real success. Goals will focusyour time, energy and the outcomes that are the highest priority at a time.When you prioritize and concentrate your efforts, you avoid being stretched toothin, and produce greater results.

Thereare many areas in your business that you need to think about when setting value goalsor targets. Let's create your unique list.

You have many areas of yourbusiness, and each need to do their part to contribute to the overall visionyou have for the company. Set your value goals systematically. This helps to breakdown the process into smaller, achievable chunks.

Here are the marketing areas of your businessthat you'll need to think about when setting value goals:

Lead Generation	> In-store Leads > Phone leads > Return on Investment (of marketing campaigns) > Weekly / Monthly / By Campaign Leads
Conversion Rates	> Individual Staff Targets > Staff Development > Conversion Rates > Sales Targets
Transaction Frequency	> Sales Targets > Customer Loyalty > Average Transaction Frequency
Average Sale	> Sales Targets > Revenue > Add-on Targets > Sale increases
Margins	> Product or Service Evolution > Profit > Cost Reduction
Personal	> Personal Development > Personal Wealth Generation

Whathappens when you achieve your goals? What comes next?

You should reward yourself and yourteam each time a target is reached. ( If you would like more information on this email us at info@inbeefinancial.com we have got a list of low cost/ no cost ideas to supercharge rewards for your employees) This will not only teach your mind toassociate hard work with reward, but will develop loyalty and morale among youremployees. One giant happy office yah!

Once you've reached a target, askyourself where the next rung of the ladder is. Can you improve upon the targetyou just reached? Can you stretch yourself and your team, or challenge yourselfmore? Get into the habit of setting a new, higher goal each time you achieve anexisting goal. This will lay a solid foundation for consistent personal andprofessional growth and improvement.

To set value goals, you need to first reframe your thinking so you can support yourselfand your efforts.

I talked a bit about the powerof intention, and how a strong belief in yourself and your ability to besuccessful is the keystone to achieving great things. This part of a greaterconcept, called positive self-talk, and it has a powerful impact on yourreality.
Positive thinking and self-talk isan important technique to practice and cultivate. When you program a positivestream of subconscious thoughts into your mind, you can control your reality,and ultimately the outcome of your goals.

When you set out to practicepositive self-talk techniques like autosuggestion and visualization, you mayfind that you have a stream of negative thoughts that continually run throughyour mind. This is okay - you work is to correct each negative statement thatflows through your mind.

For example, each time you say toyourself, "I'll never be able to finish this..." or "I'm aterrible public speaker..." take a moment to stop and correct the thought.Instead, say "I will do the best I can to finish this project," or"I will get myself some training and become a better public speaker."

Positive self-talk means getting ridof the negative thoughts that run through your mind on a regular basis - somethat you may not even hear!

That's impossible.
Don't even bother.
It's already been done.
We tried that, and it didn't work.
You're too young.
You're too old.
You'll never get there.
You'll never get that done.
You can't do that.

Autosuggestionis a kind of positive self-talk that will improve your performance in all areasof your life, and give you a better shot at achieving the goals you set.

Autosuggestion is the technique thatharnesses the power of your internal dialogue - your constant stream ofthoughts and judgments and beliefs - and uses it for positive, affirmations.Often, this involves changing negative beliefs and perceptions that we learnedfrom our parents, friends, partners and experiences.

You can practice autosuggestionanywhere, and at any time. It is especially helpful to spend 10 to 15 minutespracticing autosuggestion before a stressful situation, like a meeting orsports game. All you need to do is sit quietly, breath deeply, and allowyourself to be open to the thoughts and ideas you are about to tell yourself.Then repeat positive statements about yourself and the future outcome of a goalor intention or event.

Some examples of positiveautosuggestions include:

I will close the sales presentation and secure this client!
I am a capable and positive person!
I deserve the success that I have achieved!
I am doing the best I can!
I will assert my needs in my relationship!
I will have all the information I need to ace my exam!

Hereare some helpful tips for your autosuggestion process.

Believe in and feel what you are telling yourself. Linking suggestions to emotion increases their potency.
Talk to yourself like you would a close friend. Use a calm, considerate and gentle tone of voice. Remember that you are working to develop a good relationship with yourself.
Phrase your suggestions positively, and avoid negatives like "not", "less", "won't", "don't" and "can't."
Use the progressive form of the present tense to reflect acceptance of being "in progress." For example, say "I am becoming.." instead of "I am." Your mind may have an easier time accepting the statement.
Repetition is key. Each time you repeat a suggestion, try to find a way to make it a stronger, more powerful and meaningful statement.

Visualizationcomplements autosuggestion and harnesses the power of your mind's eye torealize your goals.

Visualization is another mind toolthat successful people use to program their brains for success. It's simplyvisualizing in your mind how something is going to happen or play out on arepeated basis. Visualization is commonly used in sports training, and has beenproven to improve performance better than just practice alone.

The technique can be used by anyone,however, and will generate the same results on performance and outcome. When wevisualize an event or situation, or an object or possession, we attract it intoour life.

Teachyourself this step-by-step visualization exercise.

Visualization should be done with arelaxed and positive attitude, as well as with an openness and willingness toaccept whatever outcome may present itself.

Sit comfortably in a quiet space - your office, home, or in nature.
Pick a goal or intention to focus on.
Relax your entire body, and take several long deep breaths.
Tune into your inner voice, and connect to the feeling that you truly believe this goal or intention.
Begin to visualize the achievement of that goal, or realization of your intention.
Create a clear and detailed mental picture, using all five senses.
Allow yourself to feel how you believe you will feel when you have achieved your goal, and how much you desire to reach that goal.
Finish with a positive affirmation about the outcome of your goal or intention.
Repeat this process at least once per day, for about 10 minutes.

Powerfulpositive people have the strength to create powerful positive change in theirlives and the lives of those around them.

You are a powerful, positive person!Successful people have no secrets - they're just determined, focused people whohave set goals and programmed their brain to think positive, and think big.

Spend the next few days working onyour autosuggestion and visualization skills. You might feel a little silly atfirst, but I promise that these are powerful psychological tools that willretrain your brain for success.

To your success!

How to Live and Breathe the Five-Part Formula

2011-12-02T13:19:00.001-08:00

Checkpoint:

· You've created a strong, clearbusiness vision that is realistic and achievable.

· You've posted your vision in a placewhere you and your staff will be able to see it on a daily basis.

You'regoing to achieve your vision (and your dreams!) by adopting the five-stepprocess into all areas of your business.

It's one thing to try a newmarketing strategy, but it's another to change your approach altogether. It'sjust like dieting. Sure, if you cut 20% of your calories for two weeks you'regoing to see some results. But, the minute you go back to your old patterns,the results quickly disappear.

Temporary changes generate temporaryresults. Sustainable results require changes in behavior; the removal of oldhabits and creation of new ones.

All of the advanced marketingstrategies that you'll learn in our E-System will contribute to one of the fivesteps. By the end, you'll have worked through all areas of your business andoptimized them for success (remember, a 10% increase in the 5 areas can leadyou towards doubling your profits (not revenues!).

In this E-Class we will cover:

How the five-step process will impact all areas of your business
How to get used to working with the five-part formula
A review of the five steps
How to set yourself up for success with the program

Thefive-step process is a way of doing business. It's not a temporary strategy,and it won't generate temporary results.

The five-part formula is soeffective because it touches on each and every area of your business. It willimprove and increase and generate and sharpen and strengthen everything thatyou and your employees do.

Once you complete a step, you'llnever go back to your old way of doing things again. This is a program forpositive change and powerful results. The change is long lasting and theresults are far reaching.

Choosing to begin the five-stepprocess will have an impact on every area of your business:

Lead Generation	Conversion Rates	Number of Transactions

Any strategy you use to get people to call or walk through the door.	Any strategy you use to get people to BUY from you.	Any strategy you use to get existing customers to buy from you more often, or stay loyal to your business.

Advertising Promotions Press Releases Listings Website Online marketing	Sales process Sales staff Sales scripts Point of sale Image Merchandising Staff scheduling Staff happiness Staff training and development	Customer service Customer loyalty program
Average Dollar Sale Any strategy you use to get customers to spend more money in a single transaction. Point of sale Impulse items Sales process Sales scripts Stock Stock availability Exclusivity of products/services		Profit Margins Any strategy you use to maximize the percentage of the cost of each product/service that is profit. Product or service costs Expenses Rent / lease Business supplies Pricing strategy Salaries

Let'sget used to working with the basic formula that the five-step process is basedon. You'll want to post this formula somewhere visible, where you can see it ona regular basis.

# of Leads

% Conversion Rate

# of Customers

# of Transactions

Average Dollar Sale

Revenue

% Margin

$ Profit

As you can see, each of the shadedlines is a factor that influences the bottom line - your profit. Each of theshaded lines is a step in the five-step process. You will work on each linesequentially, and the impact on your profit will build over time.

Anominal 10% increase in each of the five factors would look like this:

Starting Point		Goals (10% Increase)
Leads	4,500	Leads	4,950
Conversion Rate	30%	Conversion Rate	33%
Customers	1350	Customers	1633.5
Transactions	1.3	Transactions	1.43
Average Dollar Sale	$140	Average Dollar Sale	$154
Revenue	$245,700	Revenue	$359,729.37
Margins	24%	Margins	26.4%
Profit	$58,968	Profit	$94,968.55

Here are a few blank charts for youto use to see how a 10%, 20% and 50% increase in each of the factors willimpact your profit.

Create the chart below on your padof paper (use the same pad as last week ideally - the process of writing thisdown will give you a 400% better retention rate). Use the left side of thechart to fill in your existing numbers. If you don't know, take a guess. Thepoint here is to understand how little increases will have big impacts on yourbottom line profits. We'll show you how to start tracking your results at thebeginning of each step in the program.

Starting Point		Goals (10% Increase)
Leads	(#)	Leads
Conversion Rate	(%)	Conversion Rate
Customers	(#)	Customers
Transactions	(#)	Transactions
Average Dollar Sale	($)	Average Dollar Sale
Revenue	($)	Revenue
Margins	(%)	Margins
Profit	($)	Profit

Starting Point		Goals (20% Increase)
Leads	(#)	Leads
Conversion Rate	(%)	Conversion Rate
Customers	(#)	Customers
Transactions	(#)	Transactions
Average Dollar Sale	($)	Average Dollar Sale
Revenue	($)	Revenue
Margins	(%)	Margins
Profit	($)	Profit

Starting Point		Goals (50% Increase)
Leads	(#)	Leads
Conversion Rate	(%)	Conversion Rate
Customers	(#)	Customers
Transactions	(#)	Transactions
Average Dollar Sale	($)	Average Dollar Sale
Revenue	($)	Revenue
Margins	(%)	Margins
Profit	($)	Profit

StepOne / Lead Generation: How can you get more people to walk through your door,pick up the phone, and/or visit your website?

Your leads are your prospects orpotential customers. They are people who have taken action in response to yourad or promotion, and have shown interest in your product or service, but havenot become a customer because they haven't purchased yet.

Lead generation is important becauseyou can't increase the number of customers you have. This is becausecustomers are the by-product of two things:

#LEADS X % CONVERSION RATE = # of Customers

This means that you have to generatemore leads and get more of those leads to make purchases in order to increaseyour customer base. Note; this a very important step because your 'cost ofclient acquisition' (price you pay to acquire a new client) is the mostexpensive function of your business. Yours, ours and every business on theplanet btw...

So lead generation is aboutfinding ways to reach the people who need or want what you have to offer andgetting them to act - to pick up the phone, visit your website or walk intoyour business. This is what the majority of marketing strategies are trying todo.

advertising
business listings
direct mail
promotions
press releases

flyers
referral partnerships
publicity
coupons

StepTwo / Conversion Rate: How can you get the people who walk through your door,pick up the phone, and visit your website to BUY something?

Conversions are the second factor inthe customer equation. A conversion rate is simply our leads divided by ournumber of transactions in a specific time period.

#LEADS / # TRANSACTIONS = % Conversion Rate

This is a key focus of your businessand your staff's time. After all, why spend time and money attracting tons ofqualified leads if you can't make them buy when they're in the store? We callthis confusing being busy... with being successful!! Do not let it happen toyou.

Several aspects of your organizationimpact your conversion rate:

Your business image and the first impression customers have of you/your business
The strength and effectiveness of your sales team
Your sales process and staff training and development programs
The strength of your sales scripts (Do you want fries with that?)
The level of purchase risk involved in your product or service

StepThree / Transactions: How can you get your customers to buy from you MORE thanONCE?

The process of attracting andconverting a customer is one that costs you money. Customers cost you money.They're an investment that you need to make the most of to stretch your leadgeneration dollars.

You can reduce the cost of yourcustomer by increasing the number of times that they purchase from you. Thisincreases the total number of transactions in your business and the amount ofmoney that flows in.

So instead of continuously chasingdown leads and converting them to customers, increasing transactions is aboutkeeping our existing customers loyal and coming back to spend money.

exceptional customer service
customer loyalty programs
incentives
newsletters

convenience services
bonus amenities
referrals

StepFour / Average Sale: How can you get your customers to buy MORE from you eachtime they buy?

Your total revenue is the product ofhow many customers you have, how many times they purchase from you, and howmuch they spend.

#CUSTOMERS X # TRANSACTIONS X $ AVERAGE SALE = $ Revenue

Increasing the average amount ofmoney customers spend with you is the final way you can increase the amount of moneythat comes into your business. It's amazing how small increases in this valuecan have big impacts on your revenue. If I were to come into your businesstomorrow and you IMMEDIATELY needed to increase profits - this is the firstplace I would look and the easiest area to make a large improvement in yourprofits.

You'll have to show your customerthat they needed or want more than what they purchased. The amount that you areable to increase will depend on the type of business you are in - it's easier tosell gel pens than an additional dishwasher - but generally every business canfind opportunities to increase this figure.

The strength of your sales team
Merchandising at your point of sale
Add-on items
Cross-selling
Usage of impulse items

The strength of your sales scripts
Upselling
Opportunities for packaging and widgets
Staff training, development and incentives

StepFive / Margins: How can you make more profit off each product and service yousell?

The last opportunity you have toinfluence your profit is your profit margin. Your total revenue times yourmargin as a percentage equals your total profit.

$REVENUE X % PROFIT MARGIN = $ Profit

Essentially, your goal here is tomake your profit margin as high as possible. As the final factor in the profitcalculation, increasing your margin is a vital step towards maximizing yourprofits.

If your margins are too low, you'llnever make any money - regardless of how many customers you have, how oftenthey buy from you, or how much they spend. Your revenue will perpetually goback into your business and be spent on costs.

There are three ways to maximizeyour margins:

Increase prices
Cut operating and product/service costs (operating costs include rent, leases, salaries, commissions, and office supplies)
Increase margins

Alarmingly, many business owners donot genuinely know their weekly/monthly/annual profit - you need to go into thebusiness of generating a profit (this will be a paradigm shift for many - it isnot about greed, it is about looking after those you care about. The more moneyyou make, the more you can provide for your family, charity, your churchetc...) and work towards increasing that profit each and every day, week, monthand year.

Nowthat you have a good grasp on how the five-step formula works, and an idea ofthe marketing strategies you'll learn to work with, take a few moments and setyourself up for success.

1. Schedule time in your week towork through the E-Classes.

You'll receive an E-Class each week,and each will take approximately thirty minutes to three hours to complete,depending on the strategy or implementation requirements. Identify twotimeslots in your weekly schedule that you can set aside for this task - it'simportant! This will keep you from putting the E-Classes off for later, anddelaying the positive changes to your revenue stream. But remember that if youfall behind by a few E-Classes, don't worry. The program is designed to work atyour own pace, with your own schedule.

2. Post reminders of your vision,goals and targets in visible places.

Keep yourself focused and on trackby surrounding yourself with the positive changes you have already made, andwill continue to make. Post your business vision, personal and business goalsand targets in your office and staff rooms.

3. Include your staff in theprocess.

Your employees are a powerfulresource in your business - they ultimately are the people that you will needto trust and empower to run the business without your own day-to-dayinvolvement. They are the people that your customers come in contact with on aregular basis, and represent your business image, brand and message.

Let them in on what you're doing,and educate them on the five-part formula. Show them how their actions, inputand skills contribute to the operations and profitability of the business.

4. Start paying attention to yourcurrent numbers and tracking systems.

Now that you have an idea of whatfactors and figures you'll be working to increase, start paying attention towhat those numbers look like now. If you have tracking systems in place, runsome reports and get an understanding of your current situation. Think aboutthese questions:

where do your customers come from?
what marketing campaigns work the best?
what lead generation strategies work the best?
how many of your customers buy from you?
how often do they buy from you?
how much do they buy from you?
what do your existing profit margins look like?
what percentage of your items are high margin, and which are low?

Nowthat you have an idea of where your business is going, let's start mapping outhow you're going to get there.

The next two E-Classes are aboutsetting SMART goals and retraining the way that you think about yourself andyour ability to achieve what you deserve. There's lots of important work to do!

Congrats for tuning in,

I Set Goals! Why Am I Not Successful?

2011-05-18T09:27:00.000-07:00

Thereare a lot of busy people out there. I’m sure you’re one of them. Just being busy is not accomplishing your goals. You know that but why? I know you work hard just like everybody else, and it seems like the only way to be successful is to “GET LUCKY.”

I was told a long time ago that LUCK is when: Living, Understanding, Connecting, & Kindness enjoy each others company or to put it in simple
terms: “When opportunity meets preparedness.”

Living- breathing, moving, thinking, and learning.

Understanding- knowing the opportunities, knowing something, and putting it to use.

Connecting- finding the right situation.

Kindness- knowing that you must put the needs of other first.

Alright, alright, alright……how does all this tie into goal setting and being successful.
When you set goals it is important to attach a value to that specific goal. Simply saying I want to buy a house is an idea but it is not a goal. Let us think about this for a second. What are your values????

Do you value family, wealth, security, teamwork, planning ect…… Now that you have determined some of your values…..every goal that you set should be formed around those values.

If you value

Family: I want to save/earn enough income so that I can help my family
Wealth: I want to save/earn enough income so that I can obtain wealth
Security: I want to buy a home so I have security

When you attach values to your goals the goals you set become important to you.
When you are working on value-goals those opportunities to get lucky open up.

Get lucky set a Value-Goal today!!!

Can an OPEN HOUSE BE PROFITABLE!!!

2011-03-12T09:11:00.000-08:00

Scott's Power Equipment Open House!!!
They have a grand opening every year!!!

Tips, Ideas, and Insight for Planning Open House!!!1. Create a budget for the grand opening. Creating a budget that will allow you to have a successful grand opening, but is separate for the monthly advertising budget.
2. Select a grand opening date immediately. By selecting a date you can now properly prepare, plan, and schedule special guest for the grand opening in advance. You can inform customers, vendors, and staff months earlier and create a buzz about the “big grand opening event”.
3. Check local government regulation regarding advertising signs, inflatable, or marquee that you use to advertise your grand openings. Some communities have regulations and permits maybe required to have a large purple inflatable gorilla, advertising a grand opening in parkway.
4. Make it a business-to-business grand opening. Send out special coupons to local businesses – networking with business and create business accounts. Allow owners to enter the night before the grand opening to preview the store.
5. Create customer loyalty from the beginning. Offer special incentives for returning customers who shopped prior to the grand opening. If a customer brings in a receipt dated prior to the grand opening date, give the customer a special prize or discount for being a loyal customer.
6. Hire a promotional entertainer. Promotional entertainment is about gathering crowds, getting a message heard, registering people, and for that you need a professional entertainer.
7. Have maximum staff on hand. Make sure your sales staff is fully knowledgeable about location of products, store hours, and store layout.
8. No waiting at registers. Plan for crowds to come and buy. Have all the registers open and have entertainment available to entertain the waiting customers. When people are happy they don’t mind waiting in line. Have a comedian, promotional entertainer, or band to entertain the customers waiting in line.
9. Network with adjacent business. Because you already have the grand opening date scheduled you can work with local business to create flier swap weeks in advance. Local takeout restaurants can give away fliers with each order in exchange for giving out their fliers to your customers.
10. Contact local government and the Mayors office and request they participate in the ribbon cutting ceremony. Politicians love to make public appearances for local business and you should invite as many as possible.
11. Contact local newspapers and talk to the editor to inform them about the new business coming to the community. Highlight the benefits that your company will bring by either providing a needed service or jobs to the community.
12. Encourage local religious leaders to attend the grand opening. Let them know that your business is there to help support them and their parish.
13. Blessing the business and those who come. Invite local religious organizations to attend prior to the ribbon cutting ceremony to bless the business. Religious leaders can invite parish members to come and participate in the special event.
14. Contact local animal rescue centers to see if they would like to participate in the grand opening. Provide them with a location to setup and display their charity information. Show the community that your business has a heart and cares for animals, the environment and charity organizations.
15. Invite local high school marching band to perform at grand opening. A small donation to the school band program can help with goodwill for the community. Present a donation check at ribbon cutting ceremony so community leaders and newspapers can hear of your good deeds.
16. Request the honor guard from the local VFW to present the United States Flag. Kick off the ribbon cutting ceremony with the national anthem and honor guard presenting the flag. Offer the VFW a special discount to them and their members for their service in the military and for their participation in the grand opening.
17. Vendor sales presentations to education consumers about products. Vendors and manufactures have qualified sales staff that can assist in the grand opening to educate consumers about their products and how to best use the merchandise.
18. Talk to manufactures and vendors and see if they would provide grand opening support with signs, banners, or sponsor food booths.

For more info Visit:

FOCUS and High Achiever Sales

2011-02-24T10:22:00.001-08:00

Have you ever wondered how the top sales producers out sell all the others in the industry by 80%. According to Inc. Magazine, the Pareto principle is, still in full force because of the power of FOCUS. Focus is one of the most difficult things to achieve in sales because it requires discipline. Self discipline.

Like in sports, football, baseball, golfers are often quoted as being in the ZONE. Well in sales that is what we call FOCUS. Focus- a central point, as of attraction, attention, or activity.

Many top sales producers are accustom to writing down their goals that is their focus. Think about this, what specific action steps will lead you closer to your goals. High achievers have written a goal for the day, the week, the month, and the year.

At iNBEE Financial we have simple tools you can implement today to improve your focus for the next 90 days all you have to do is call us at 636-233-2782 or email us at info@inbefinancial.com and type help me with my next 90 days

iNBEE T-Shirts

2011-02-17T17:47:00.001-08:00

Are you a fan of iNBEE Financial. You can purchase a variety of apperal at www.cafepress.com/inbee Cool Shirts Like:

10 Successful Tips of Direct Mail

2011-02-14T12:35:00.000-08:00

1). Catchy headlines.

2). Unique selling position.

3). Design to generate interest.

4). Give real value.

5). Never sell with direct mail - build curiosity.

6). Show appreciation for the customer.

7). Do not skimp on the advertising agency.

8). Target you mail - The quality of your list is more important than the actual mailer.

9). Use testimonials they are powerful.

10) Include endorsements.

Testimonials

2011-01-20T16:25:00.000-08:00

(Excerpts)

iNBEE Financial was able to provide financing for our customer that was turned down by YardCard. They were very professional and understanding with my client. In addition, we were able to help make a sale of $5,449 that increased our total sales for the month.

Mike Lawn Equipment Dealer

Thank you iNBEE Financial for financing our client (name removed). We appreciate what you are doing for our business and our clients. You have been very prompt and professional. We look forward to doing business with you now and in the future.

Carl Point of Sale Equipment Dealer

Wow, I never thought you would be able to finance our customer. He told us he had credit issues and was already declined by our usual finance company. We appreciate what you are doing and thank you.

Mike- Telecom Equipment Dealer

We have been using (name removed) for years now to finance our customers. We did not realize how much business we were loosing due to credit issues. iNBEE Financial has improved our bottom line and provided our customers with much needed equipment they require. Thank you for what you are doing for our company and our customers.

Tittus- Lawn Equipment Dealer

I called iNBEE Financial for one of my customers that had been turned down. iNBEE called back to let me know that the customer had been approved. I was shocked. I thought the deal was a dead one. iNBEE helped, not only my customer but our company make a sale, now I have a happy customer.

Tim- Restaurant Equipment

Having iNBEE Financial as part of our team has been a blessing. They are able to quickly get approvals for our customers that normally would not have been approved. Our sales have grown monthly since having you (iNBEE) as an option. Thank you for what you do.

Jeremiah- Educational Software

So your a SCAG dealer

2011-01-20T08:22:00.000-08:00

1. Understand the benefits of your Scag Equipment

Write down all of the details about your equipment including the make, model, year, features and any other pertinent information.

2. Craig’s list, Ebay, American Classified’s, Direct mail, Your web site, Your Brochures and Your Business Cards.

Simply including:

“We offer iNBEE Financial’s Financing Programs all credit welcome and special pricing for great credit!!! Visit http://www.inbeefinancial.com/ for more details!!!”

Many Scag Dealers have found this increases sales by 25% alone.

3. Seek out the competition

Browse online farm equipment websites for equipment similar to what you're selling. Note: The prices, special offers, and benefits that other people are selling their equipment with, you can use this as a guideline for setting your value in the marketplace.

4. Go find buyers

Check the "Equipment Wanted" sections. You may be able to find someone locally who wants the exact item you're about to sell, in which case you can avoid having to post an ad.

5. Online

Place your ad on online used Scag equipment websites by signing up and simply entering in the information about your item when prompted. You will be able to upload your photos during this process, to be displayed online. Most of these websites allow you to place an ad for free, or for a very small fee.

6. Local Newspapers and gorilla marketing techniques

Place ads in local newspapers as well as online, if desired.

7. Partner with others

Nurseries, places that sell trees, Hardware stores, as well as community bulletin boards are all great places for your outside marketing efforts.

How to improve cashflow without selling any more products

2011-01-12T19:01:00.000-08:00

So here is the deal, if I turn you onto one of the greatest secrets for small to medium size business than you need to promise to mention this blog to everyone you meet. I know that by the end of this article 3 things will have happened. 1. Your financial intelligence will improve, 2. You will not be able to sleep. 3. You have what it takes to grow from $20,000 per year to $1,000,000 per year in revenue. I know you want to know the secret already right?
There are a number of things small businesses can do to improve cashflow without selling any more products. Sales are a big part of the overall revenue; however they are not the only thing that contributes to the cash flow of your company.

First thing you can do is charge a fee for your service to your product or service. Sounds simple, however many people underestimate the use of a fee. I’m talking about adding a fee to your product or service. For instance if you sell body supplements you may charge a shipping and handling fee, or a fee for designing a personalized dietary plan, or a subscription to a news letter for special reports on how to lose weight and tone muscle. The trick to charging a fee is to make sure you disclose the fee up front and do not hide it from the customer and spring it on them at the purchase.

Second, offering terms is a thing of the past. This is not the 1920’s anymore, and quite frankly startup’s can’t afford it, cash poor mid size companies can’t afford it and even large companies can’t afford it, so just don’t. If you are in an industry where it is customary to offer terms you can do only 3 things 1. Offer terms and go broke. 2. Simply state, “it our companies policy to only except COD terms.” Or 3. Use a factor, a factor is like outsourcing your back end office at a fraction of the price (you can read more on factors visit http://www.inbeefinancial.com/financing-ar.html )

Third, negotiate, negotiate, negotiate. Right, but I’m not Donald Trump and I don’t intimidate anyone how can I negotiate anything? Well I have good news for you negotiating is easy when you understand finance. Finance in its simplest form is broken down into two things, time and money. STORY TIME…. A couple of years ago I was on a team of entrepreneurs building a nut, dried fruit, and candy company. There was an account I was trying to break open and have them order from us. The grocery store was in Illinois and had about 15 locations to be exact. Once I discovered the account and set the appointment I knew the account meant big growth for our company. However, little did I know how astute the purchaser was when he placed his ordered, oh he ordered 15 displays to be exact that meant $135,000 for my company per year…. Or did it he offered to pay his bill net 10 with a 5% discount. So, we only made $128,250.00 He Improved his cash flow by $6,750.00 per year. Over the three year relationship he saved $20,250, if you multiply that by all his vendors that’s a huge influx of cash.
For more information on improving your cash flow call iNBEE Financial

Take Advantage of Supplier Discounts

2010-05-15T10:25:00.000-07:00

The top 4 ways to take advantage of supplier discounts.

1. Ask if you can purchase in greater quantity.
2. Ask if you pay early, would they be willing to give you a 5% break on price.
3. Ask if you commit to a one year loyalty agreement would they offer a discount.
4. Ask if you refer them business would they provide you with a discount.

How do you get the money to invest in larger inventories, or pay sooner?

Answer: iNBEE Financial will pay you early on your invoices or purchase product from you. If you would like to know more information about how to take advantage of supplier discounts call for a FREE consultation with absolutely no obligation and we will share our 30+ years of purchasing with you. 636-233-2782 or visit http://www.inbeefinancial.com/financing-ar.html

WHERE IS THE MONEY IN 2010 FOR SMALL BUSINESS?

2010-03-12T11:32:00.000-08:00

Finding Your Financial Strength

Saint Louis, MO February 19, 2010 -As the financial criteria tightens in the economy, business owners tremble at the idea of applying for a loan and feeling the rejection. Many owners are closing the doors and many others are laying off people by the hundreds. Cutting expenses in this economy is not the only way to find the extra dollars for expansion. To prepare to be financed there is a couple of things you may want to do.1. Get your credit score above 650. There are a couple of good programs out there for people who still pay their bills on time2. Have an alternative source of income. Having a wife, girl-friend, husband, boyfriend, etch may be just the income you need for the proper income to debt ratios.3. Sell off all your used equipment on eBay and Craig’s-list. Today lenders still consider cash as king and a strong cash position yells, finance me!4. Cut back on your charitable donations and employee benefits. Showing lenders good business decisions can be the push you need.5. Take a personal pay cut from your company, now is not the time to take larger than needed executive type pay checks. 6. And lastly never lie to your loan officer. His reputation is on the line for you. Lenders are now holding brokers responsible for not carrying out their due-diligence of bad clients.
Finding Your Financial StrengthMany companies qualify for financing and do not even realize it. They think because they were turned down, that funds are gone and they have no hope except; to increase sales to grow their company.That is simply not true being turn down does not mean your company does not qualify for financing it means your financials are not strong enough to support the debt.There is a big difference between qualifying for financing and having the financial strength to support the debt. For instance, let’s just say that you credit score was poor (sub 600). Does that mean that your company does not qualify for financing? No, it means that you as a guarantor are not strong enough to support the debt with your credit, getting a transaction approved may be as simple as 3 things.1. Find a stronger credit score to back the note2. Put up stronger collateral3. Place a larger than average security deposit.
For additional information on the news that is the subject of this release contact Nathan Bush visit www.inbeefinancial.com Whether you need to get new equipment, finance your accounts receivable and inventory, raise working capital, or acquire a company, iNBEE can do it all!
Whether your business has just started, or is well established, we have a financing solution for you.

About iNBEE Financial:

iNBEE Financial is a nationally recognized financial company serving our clients financing needs. In these trying times, most banks have a policy to lend money only to those companies that don’t really need it. Additionally, most banks are one-dimensional and only do one type of financing. They are not in a position to provide all the different types of financing small to medium-sized businesses need. iNBEE Financial, with our expertise and our partnerships with national lenders can provide all of your financing needs.

Contact:
Nathan Bush, VP of Marketing and SalesiNBEE Financial636-233-2782http://www.inbeefinancial.com

Is there money in 2010?

2009-10-31T21:49:00.000-07:00

As the financial criteria tightens in the economy business owners tremble at the idea of applying for a loan and feeling the rejection. Many owners are closing the doors and many other are laying off people by the hundreds. Cutting expenses in this economy is not the only way to find the extra dollars for expansion. To prepare to be financed there is a couple of things you may want to do.

1. Get your credit score above 650. there are a couple of good programs out there for people who still pay their bills on time
2. have an alternative source of income. Having a wife, girl-friend, husband, boyfriend, etch may be just the income you need for the proper income to debt ratios.
3. sell off all your crap on eBay and craigs-list. Today lenders still consider cash as king and a strong cash position yells finance me.
4. Cut back on your charitable donations and employee benefits. showing lenders good business decisions can be the push you need.
5. take a personal pay cut from your company, now is not the time to take larger than needed Us Bank type executive pay checks.
6. and lastly never lie to your loan officer his reputations is on the line for you. Lenders are now holding people responsible for not weeding out bad clients with out the proper due diligence.

Financial Strength

2008-11-17T23:00:00.000-08:00

Financial Strength

Many companies qualify for financing and do not even realize it. They think because they were turned down that funds are gone and they have no hope except; to increase sales to grow their company.

That is simply not true being turn down does not mean your company does not qualify for financing it means your financials are not strong enough to support the debt.

There is a big difference between qualifying for financing and having the financial strength to support the debt. For instance: let’s just say that you credit score was poor sub 600 does that mean that your company does not qualify for financing no it means that you as a guarantor are not strong enough to support the debt with your credit, getting a transaction approved may be as simple as 3 things.

1. Find a stronger credit score to back the note
2. Put up stronger collateral
3. Place a larger than average security deposit.

If you have any questions as to how to strengthen a transaction it may be wise to call (636) 233-2782

iNBEE Financial Helps Unlock Your Recievables

2008-05-07T20:09:00.001-07:00

One great way to fund your company is to factor your accounts receivable. Factoring is an awesome tool because you don’t tie up working capital lines of credit and you don't have to put your house up for collateral.

Factoring basically works like this... your company sends your invoices to a factor. They verify the work has been finished, delivered, or installed and they send you 60-80% of the money you have due to your company. The nice thing is the factor funds very fast and your company no longer is responsible for the collections of those accounts. This give you time and money to go after bigger and better accounts and it proves to the bigger companies that you have the financial backing to support the larger accounts.

Are you waiting 30, 60, 90, 120 days to receive money from your customers let us get you that capital so you can use it today

iNBEE Financial
Visit us and Click on the ling Accounts Receivable Funding
www.inbeefinancial.com

10 ways to improve your credit

2008-04-22T21:32:00.000-07:00

1. Cut expenses
2. Pay your bills on time
3. Stick to a strict budget that allows you to begin to save money
4. Pay credit cards down below 30% of available limit
5. Don’t open up a lot of different lines of credit
6. Don’t miss a credit card payment, loan payment, or doctor bill
7. Pay up any judgments against you
8. Don’t have 30 different people pull your credit in the last 30 days
9. Live within your means
10. Increase your revenues

One great way to improve your credit is to find more affordable ways to purchase equipment for your business you can check out our current inventory at http://www.inbeefinancial.com/currentinventory.html and you will find a list of more affordable equipment for your construction company.

10 things funders need to close your loan!

2008-02-17T12:27:00.000-08:00

1. Your application
2. Your driver license
3. 2 Years personal tax returns
4. 2 Years business tax returns
5. 2 Years business financials
6. Copy of insurance
7. A business plan
8. Copy of your business licenses and federal certificates
9. Bank account information
10. All fees and down payments

AH MY BUSINESS IS OUT OF CONTROL!

2008-01-15T19:46:00.000-08:00

Developing a plan is one of the most important aspects of building your business. In your plan you should include everything about your company. 9 out of 10 new businesses fail within the first year and many of the business that makes it past the first year never grow. It is my personal commitment to help anyone who reads this site once a month grow their business.

Many people have problems with the management of their business. Oftentimes my clients will say to me, “Nathan, these girls just won’t listen to me. They seem to do what ever they want.” Management is even a foreign word to some people. All a manager is to do is oversee that the policies that you put into place are followed. Policies? What Policies?

You mean your company does not have policies and procedures? Policies and procedures ensure the future success of your business. Do you ever have your stylists come in without the proper work attire? This is probably because you do not have a dress code policy in you Policy and Procedures Handbook.

This is your business and you should make sure it is run under your control. Any company with out policies is out of control and is headed the wrong direction.

Set your goal to write your rough draft of all the policies, rules, and procedures for your salon. Next review them with someone you trust. Talk about them. Edit them; lastly, hand out a copy to all your employees. Have them sign it and give it back. And let them know that if they don’t comply, their will be disciplinary actions taken. See how quickly your business changes from un-profitable to profitable.

It has been recently brought to my attention that some of the salons today are rental salons, and they tend to enforce policies even less. Rental! Does that mean that you don’t own a business? You don’t have to do anything as a business owner when you rent stations to your stylists right? Wrong! It is even more important to write out everything in their rental agreements and make the handbook part of their agreement.

By developing your business you will have more time, and money to spend with your family.

8 places to update your business.
Management
Marketing
Products
Cash-flow
Legal Advice
Accounting & Finance
Inventory
Security

Specialty Truck Financing W/ less than 24hr Approval

2007-12-31T14:12:00.003-08:00

Good credit! Tough credit! Ugly credit! No problem! We want your deals dead or alive! ..............Is your present leasing company approving all of your customers? Are you losing too many deals? iNBEE Financial Services has more programs, so you can close more sales today. Call us with all your deals (dead or alive). Those turn downs from your "in-house" financing company, can be approved! Call 636-233-2782 to find out how we turn tuff credit into approvals!

Our simple one page credit application, good for deals up to $250,000 or more, does it all. We don't need financials, tax returns or the other mumbo jumbo. Just send us the credit app. with your dealer quote, and 24 hours later, we can send you the approval.

Check out our supply of used equiptment at:
http://www.currentinventory.net/

Checklist of Basic Franchise Agreement Terms

2007-12-30T22:15:00.000-08:00

Franchise agreements vary from franchise to franchise. It would be impossible to identify every term and issue that should be considered in every situation. However, this checklist should be a valuable tool if you’re interested in buying a franchise.
The checklist should be used in conjunction with the franchise agreement—the document that will set out all the terms and conditions that will govern your ownership of the franchise—which will be drafted by the franchisor. You can use this checklist either before you see the franchise agreement, in order to get an idea of what should be in it, or after you have a copy of the agreement, in order to review its terms.
In any event, while you can use the checklist to understand and review a franchise agreement, you shouldn’t sign it until you’ve discussed your options with your attorney.

Issues Pertaining to the Franchise Cost Terms

o What does the initial franchise fee purchase?
o Does it include an ``opening'' inventory of products and supplies?
o What are the payment terms: amount, time of payment, lump sum or installment, financing arrangements, etc.?
o Does the franchisor offer any financing, or offer help in finding financing?
o Are there any deferred balances? If so, who finances and at what interest?
o Is any part or all of the initial fee refundable?
o Does the contract clearly distinguish between ``total cost'' and ``initial fee,'' ``initial cash required,'' or ``initial costs,'' etc.?
o Are there periodic royalties? If so, how much are they and how are they determined?
o How and when are sales and royalties reported, and how are royalties paid?
o If royalty payments are in whole or part payment for services by the franchisor, what services will be provided?
o Are accounting/bookkeeping services included or available?
o How are advertising and promotion costs divided?
o Is a specified amount of working capital required of the franchisee to cover operating costs until profits can be made?
o Must premises be purchased or rented, and are there further conditions on either of these (from franchisor, selected site, etc.)?
o How and by whom will the building be financed, if purchased?
o Does the franchisee have to make a down payment for construction and/or equipment?

Issues Pertaining to the Franchise Location Terms

o Does the franchise apply to a specific geographical area? If so, are the boundaries clearly defined?
o Who has the right to select the site?
o Will other franchisees be permitted to compete in the same area, now or later?
o Is the territory an exclusive one, and is it permanent or subject to reduction or modification under certain conditions?
o Does the franchisee have a first refusal option as to any additional franchises in the original territory if it is not exclusive?
o Does the franchisee have a contractual right to the franchisor's latest products or innovations? If so, at what cost?
o Will the franchisee have the right to use his own property and/or buildings? If not, will the franchisor sell or lease his property to the franchisee?
o Who is responsible for obtaining zoning variances, if required?

Issues Pertaining to the Buildings, Equipment and Supplies Terms

o Are plans and specifications of the building determined by the franchisor? If so, does this control extend to selection of contractor and supervision of construction?
o Are there any restrictions on remodeling or redecorating?
o Must equipment or supplies be purchased from the franchisor or approved supplier, or is the franchisee free to make his own purchases?
o When the franchisee must buy from the franchisor, are sales considered on consignment? Or will they be financed and, if so, under what terms?
o Does the agreement provide for continuing supply and payment of inventory (by whom, under what terms, etc.)?
o Does the franchise agreement bind the franchisee to a minimum purchase quota?
o What controls are spelled out concerning facility appearance, equipment, fixture and furnishings, and maintenance or replacement of the same? Is there any limitation on expenditures involved in any of these?
o Does the franchisor have a group insurance plan? If not, what coverage will be required, at what limits and costs? Does the franchisor require that it be named as an insured party in the franchisee liability coverage?
Issues Pertaining to the Operating Practices Terms

o Must the franchisee participate personally in conducting the business? If so, to what extent and under what specific conditions?
o What degree of control does the franchisor have over franchise operations, particularly in maintaining franchise identity and product quality?
o What continuing management aid, training and assistance will be provided by the franchisor, and are these covered by the service or royalty fee?
o Will advertising be local or national and what will be the cost-sharing arrangement, if any, in either case?
o If local advertising is left to the franchisee, does the franchisor exercise any control over such campaigns or share any costs?
o Does the franchisor provide various promotional materials point-of-purchase, mail programs, etc. and at what cost?
o What are bookkeeping, accounting and reporting requirements, and who pays for what?
o Are sales or service quotas established? If so, what are the penalties for not meeting them?
o Are operating hours and days set forth in the franchise contract?
o Are there any limits as to what is or can be sold?
o Does the franchisor arrange for mass purchasing and is it mandatory for the franchisee to be a participant buyer?
o Who establishes hiring procedures initially and through the franchise term?
Issues Pertaining to Termination and Renewal Terms

o Does the franchisor have absolute privilege of terminating the franchise agreement if certain conditions have not been met, either during the term or at the end?
o Does the franchise agreement spell out the terms under which the franchisor may repurchase the business?
o Does the franchisor have an option or duty to buy any or all of the franchisee's equipment, furnishings, inventory, or other assets in the event the franchise is terminated for good cause, by either party?
o If the preceding situation occurs, how are purchase terms determined?
o Is there provision for independent appraisal? Is any weight given to good will or franchisee equity in the business?
o Does the original agreement include a clause that the repurchase price paid by the franchisor should not exceed the original franchise fee? If so, this eliminates any compensation for good will or equity.
o Under what conditions (illness, etc.) can the franchisee terminate the franchise? In such cases, do termination obligations differ?
o Is the franchisee restricted from engaging in a similar business after termination? If so, for how many years?
o If there is a lease, does it coincide with the franchise term?
o Does the contract provide sufficient time for amortization of capital payments?
o Has the franchisor, as required, provided for return of trademarks, trade names, and other identification symbols and for the removal of all signs bearing the franchisor's name and trademarks?
Other Points To Consider

o Can the franchisee sell the franchised business and assign the franchise agreement to the buyer?
o Is the franchise assignable to heirs, or may it be sold by the franchisee's estate on death or disability?
o Does the lease permit assignment to any permitted assignee of the franchisee?
o How long has the franchisor conducted business in its industry, and how long has it granted franchises?
o How many franchises and company-owned outlets are claimed, and can they be verified?
o If there is a trade name of a well-known person involved in the franchise, is he active, does he have any financial interest, does he receive compensation for work or solely for use of his name, etc.?
o Are all trademarks, trade names, or other marks fully identifiable and distinct, and are they clear of any possible interference or cancellation owing to any pending litigation?
o What is the duration of any patent or copyright material to the franchise? If time is limited, does the franchisor intend to renew, and is this spelled out in the franchise agreement?
o Has the franchisor provided the franchisee with an offering document package meeting FTC rule requirements or the UFOC format?
o Has the franchisor met all state law requirements (registration, escrow or bonding requirements, etc.), if applicable?
o Are there state laws governing franchisor/franchisee relationships, including contract provisions, financing arrangements and terminations? If so, does the contract meet all requirements?

Lease vs. Bank Loan

2007-11-17T08:47:00.000-08:00

***Important Note From Our Leasing Director***

Recently I came across an article that I felt needed to be shared with everyone who is business for themselves. Up until I read this article, I wasn't too clear on bank loans myself as I offer equipment leasing. However, I found this to be quite interesting and educational thus the staff here at INBEE Financial agreed we should share it with our clients and potential clients.
The article went something like this -

As a fellow business owner, we are often assaulted with calls from leasing companies and banks in an effort to get our business. I was recently approached by a representative from a fairly large, nationally known bank offering me an enticing proposal. Since they were my very own bank, I decided to lend them my ear and see what they had to say. It went something like this.
"Dear Mr. business owner, I have been authorized by our bank manager to offer you & your Company a preferred rate loan. Your first year carries with it a fixed 7.5% interest rate with no fees.

At the beginning of the following year the rate will only be prime plus 1%, and there will be a fee of only 1% of the entire credit line.

Furthermore, as a result of your commendable credit score and reputation, we are ready to provide you with a loan up to fifty thousand dollars without requiring any sort of financial statement, In addition, we will even provide a business checking account to you and your company free of charge. As needs arise, all you need to do is draft a check for your loan proceeds as you want them. All we require in exchange is that a minimum balance of ten thousand dollars is kept in the account. "With all this in mind it seems that the bank representative has just granted you fifty thousand dollars to work with.

However, upon closer inspection should you require forty thousand dollars for your business you must in turn borrow fifty thousand dollars - forty thousand dollars for your business and ten thousand dollars for the supposedly free checking account in which a minimum balance of ten thousand dollars must be maintained. Or you must provide $10,000 to be applied towards the free checking account associated with this great offer.

Please Note: Even if you normally do keep $10,000 or more in your business account on an average, normally having it in the account and needing to keep it in the account are two entirely different viewpoints and should be noted in this case. Now then, with this forty thousand dollar figure in mind your business must pay interest on fifty thousand dollars, at 7.5% per year the payments on a fifty thousand dollar loan for a three year term are $1,555.31 per month.
Already having received a forty thousand dollar loan and paying the interest for a fifty thousand dollar loan you can expect to pay 23.33%. Furthermore, in year two the interest goes up to prime plus one, not to mention a 1% fee. Even if there were no increases in the prime rate, payments will be $1,652.12 based on a fifty thousand dollar loan, and you are only given use of $39,500. This works out to be an interest rate of 27.59%.

Things that make you go Hmmm?

Business owners must decide whether to lease business equipment or get a loan from a bank to purchase the equipment. According to the Equipment Leasing Association, as many as eight out of ten U.S. businesses choose lease at least some of their business equipment. This is due to the numerous business advantages that leasing plans offer.

Consider the following: Business assets that appreciate in value can be extremely beneficial to own, but assets that depreciate in value should be leased. Leasing the business equipment allows the equipment to pay for itself during the lease term while leaving bank lines and valuable cash untouched (liquid). Leasing business equipment, rather than buying it, offers low upfront costs and leaves your money available for other business and investment opportunities.

Leasing Makes Good Business Sense
Leasing makes good business sense for many reasons including the tax advantages. Depending on how the equipment lease is structured, you may be able to fully deduct lease payments, reducing your taxes. Most businesses can deduct 100% of their lease expenses, while bank loans must be capitalized and depreciate over several years. Simply put, leasing allows you to get the most use of business equipment with the least investment.

Business Advantages of Leasing
Many businesses are now choosing to lease their business equipment, rather than taking out a loan from a bank. It is usually easier as it takes less paperwork and it leaves bank lines available for other business needs. It also leaves your personal credit bureau unencumbered as it is done in the name of the business and establishes business credit rather than personal.
In addition to conserving company capital and maintain existing positive bank credit lines, leasing rather than paying cash also offers numerous tax benefits and savings when put together correctly. If you are working with a "true" lease, your payments can be fully expensed, thus accelerate tax deductions. To learn more about the tax benefits of lease versus purchase, talk with your accountant or CPA to find out what tax benefits are available to you in your state.

View the detailed Tax Benefits of Leasing and IRS Instructions.

When you request an equipment lease from INBEE Financial , you can expect to pay very little or even nothing down. You can even expect to receive fixed payments over the term of the lease or finance agreement. This alone can save you hundreds, if not thousands less than what you could pay should you contract one of these loans mentioned above.
By taking advantage of a "You Design" leasing program from INBEE Financial , you can expect to pay hundreds less than you would with a loan as well as receive additional tax benefits. CONTACT US today to learn more about leasing options for your business.

4 Ways to Attract Success

2007-11-17T08:35:00.001-08:00

Sometimes living everyday it’s hard, when going through the motions, to step back and evaluate where you are and where you want to be. There is always something that is important and needs to get finished. As we grow older time seems to fly by and personal time disappears. It’s funny and ironic that: in our personal time we as humans dream, discover, and explore our inner most desires.

So, as the days go on, the time for planning our future is reduced to the carpet that needs replacing and the PRM report need by Friday. Is it possible to find time to dream?

It is in those times of dream, discover, and exploration ideas are created, enterprises are discovered, and communities are changed. If it is true that success attracts success; how do we get the ball rolling with all of the other challenges in our lives? Can a person continue their life, job, and responsibilities and make a difference in the future?

The following and methods used to create success, build wealth, and fulfill dreams

I have discovered 4 ways to get the ball rolling and get on the right track. These methods are for people dedicated to taking the lead in life and are methods used by many of the world’s most successful people.

Read
It seems simple enough, however my suggestions is to read things you are already interested in. By reading you can begin to distort your experience cure. Reading can eliminate many of the problems someone else had in your similar situation. Reading expands your mind and helps you to dream. Reading can be accomplished while standing in line or waiting for an order. I read somewhere that if you read about on topic for thirty min. every day for the next five years, on one topic, by the fifth year you would be an expert on that particular subject.

Write
Keep a note pad and when you have an idea where ever you are jot it down. After six months go back and read through your note pad. If you remember what you were writing about it is probably important to you. Not only is it important to write ideas down on note pads. It’s important to make lists of things needed to be accomplished, and to keep a calendar. It is also important to develop writing skills; it will help with person to person communication.

Investigate
Ask thousand of questions about the things you are interested in. When you do this you first do not come across as a know it all, and second, by asking questions people will begin to realize you are interested in one particular subject and lead you in the direction of answers. People will be on the look out for you. Say you wanted to change the local community center for the better. By asking questions people you know will lead you to where you want to be.

Speak
It is funny that when you share information how much more knowledgeable you become. (A side note: people’s number one fear is public speaking.) Many of the times the things that keep people from accomplishing goals is fear of success. By overcoming your fear of public speaking you are moving psychologically into a transition and therefore able to tear down the mental barrier that keeps you from becoming successful. It is not only important for you to speak but it is also important for you to listen to other speak.

How successful are you?