Business Credit Cards are Essential

If you are running a business out of your home, then there are many details that you need to keep in mind. You should probably be reading up on as much information that you can get a hold of on having a business at home. One of the most essential pieces of running a business from home that you absolutely need to know from the start is to get a business credit card to use for everything related to your business.

Unfortunately, as a business consultant, I have talked with far too many business owners that come to me after failing at running a home based business. Why? Well, there are a wide range of reasons why people would fail at owning and running a home business, but the surprising number one reason I found for failure was poor management of finances. Far too many people do not invest into a business credit card when they first begin, and that is a very dangerous thing to do.

I thought that the importance of having a business credit card was obvious, but maybe it is not. A business credit card ultimately allows the home based business owner to have the freedom to keep their personal finances and their business finances separate. This is essential throughout the year and obviously when it comes to tax season as well. There is no reason why the finances of a home should be mixed up with the finances of a business. Keeping the two accounts as separate as possible is good in the long run.

There are many ways to apply for a business credit card, but you may want to talk with a business consultant before you make a choice on a card. There are many business credit card offers flying around and it makes it hard to know what is up and what is down when you are sorting through the offers without a good take on what to look for. So make a meeting with a business consultant or talk with a friend who is business savvy before making any decisions about a business credit card.

The bottom line for home based business owners is that they need to look for ways to separate their business even though it is done in the home. This will be impossible without the use of a business credit card. So apply for one today and see what a difference it will make to the organization and success of your business.

Remember that when you are looking to save money, count on your trusted business partner, Business Network Long Distance!

No More Monopoly

There was a time in this country where all utilities such as: gas, power, electric, and telephone service were all operated under the regulation of one single company. In the early seventies AT&T was investigated for being a monopoly of telephone service for the entire country and the result of that endeavor changed the economic model for consumers. Now utility deregulation is law and the process allows private firms to supply utility services rather than restricting it to government-run agencies.

           

Telecom deregulation was the best thing that could have happened for the consumer because it created competition and benefits that lowered service prices. When AT&T operated as a monopoly they could charge whatever they wanted for their service and generally operate as they saw fit. It was common practice for AT&T to rent out telephones to place in homes without the option of owning. Soon after, the government stepped in and created The Telecommunications Act of 1996.

The 1996 Act was designed to open up telecom markets to competition and it relied on rapidly spreading advancements in the industry by requiring companies that used similar types of underlying network technologies to provide a single type of service. The biggest example of this was that AT&T operated seven regional providers of local telephone service and they supplied long-distance service to them all, but under the 1996 Act they could no longer offer that same long distance. They first had to prove that they had opened up the market for long-distance to competition before they could throw their hat in that ring. As a result long distance telephone rates decreased, the number of long distance minutes used increased, while improved entry and competition into the long distance telecommunications sector became a reality.

Use your freedom of choice today and contact Business Network Long Distance for low rates on your long distance bill. 

Do-It-Yourself Financial Planning

Tips for DIY Financial Planning from Business Network Long Distance.

The fight for financial freedom isn’t fair. No matter what kind of spin you try to put on it, the path to comfortable living seems either impossible or too long to attempt. Many people these days are spending copious amounts of money going to see professional financial planners for advice on how to get their money situation under control. But let’s be honest, while a financial planner can show you how to prioritize your spending and how to go about consolidating your debt, surely there must be a way to plan your finances that doesn’t cost you visits to a professional?  This article has been written to open some people’s eyes to the fact that it is possible to properly plan your finances from the comfort of your own home.

The main aim when planning your finances is to make everything as simple as possible. There is nothing worse than sinking so far into depression that you can’t see a way out. Whether you are in debt and looking to get out of it of if you are simply looking for a way to keep a little more spending money aside each month, the simpler you make your planning the better the result you will get. From the beginning, you need to be realistic. I’ll start with the example of a single income situation, firstly you need to calculate what your net pay is per month. If you’re self employed or not on a regular pay, always calculate the worst-case-scenario, what is the lowest you might get paid. Then go through your monthly bills and write down the ones that are a fixed amount. Do the same for all other bills but use the worst-case-scenario again, what is your estimation of the most that those bills might be. Add everything up and subtract it from your net income total.

Next onto the incidental expenses you might run into on a monthly basis. These might include petrol, car upkeep, public transport fares, food etc. make a list of all the little expenses you might need money for in a month. Even things that you’re not sure you might need to buy. Don’t add general spending money to the list, be specific. Always add more to the totals if you’re not sure as you can fine tune it later. Again, subtract your total from the money left over from your bills. Don’t worry if you’ve gone into the negative figures here, we can fix it.

Once you’ve got your expenses total in front of you, obviously any money that is left over is your profit for the month. In the event that you have nothing left or have gone into the minus figures, the next step is to minimize your expenses. Pretty straight forward, huh? Any incidental expenses that you might not need, remove them. And any expenses you know you will have, like food and petrol for example, really get down to the lowest spend on them. How much do you really need to spend on them? Your aim should be to save at least $50 per month after spending money. All that extra builds up and gives you a nice petty cash at the end of a few months!

If you are in a multiple-income situation, the same process applies. You need to start building up that petty cash tin. There will always be unexpected expenses, everyone knows that. In truth, the basis of comfortable living is really the knowledge that you can afford to pay for something unexpected.

To finish, all of this can be done on a piece of paper if you want to invest a little time, or you can lay it all out on an Excel spreadsheet. The way that saves the most time is to use a Financial Planning software program, you enter the numbers and the program gives you an automatic monthly planner. Whatever way you choose to go, always remember to keep it as simple as possible. When you’re following a plan, the pressure on you will decrease. What more could there be to comfortable living?

Remember you can always save money on your long distance bill by contacting Business Network Long Distance.

Putting the Customer First

The key is putting customers first. All successful business revolves around this belief and acts accordingly. To that end, we at Business Network Long Distance follow all Federal Communications Commission (FCC) guidelines and regulations, especially when protecting our clients.

To ensure our customers are getting the best service we follow the rules that the FCC has put into place.  Specifically, several regulations regarding phone switching from one provider to another The Telecommunications Act and FCC regulations hold corporations accountable for the actions of their employees. This includes telemarketers.

To legally switch service between providers, the new company must perform one of the following:

·         Verify oral authorizations through an independent third party.

·         Provide and obtain written authorization from the consumer; or

·         Provide a toll- free number for clients to call confirming the switch.

Third party verification is required to ascertain certain personal information including verification data. It is also required to verify that you are authorized to make such financial decisions. This is especially critical in a business environment where multiple lines and the company’s organization are concerned. Confirmation is needed to ensure that you with to change providers and that you understand that you are authorizing a company change, not simply upgrading an existing service or consolidating a bill. This question protects consumers from possibly misleading information. Former and current provider information is necessary to complete the switch.

A letter of Agency “LOA” may be written or electronically sent. It is used to confirm a consumer’s desire to change companies. Like the telemarketer verification information detailed above, it requires some personal billing information. The Letter, though, authorizes the new provider to act as the Agent of change in switching your long distance service. It may not be part of promotional materials or advertisements (except incentive checks, under certain circumstances). It is important that the LOA, as a legal document, detail and explain all local, local toll, and long distance providers being switched or affiliated.

The final method of authorization is to establish and use one or more toll- free numbers for electronic confirmation. The lines must be dedicated to that purpose. Calling the line connects the consumer to a live or automated voice unit that will record the required information detailed above for verification purposes. Calls which authorize a provider switch must be placed from the telephone line(s) in question.

These safeguards have been put in place by the FCC to protect consumers from illegal practices. All companies operating within the law follow these regulations.

For quality long distance you can trust contact Business Network Long Distance.