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.

Your Business Line Should Be Professional

When employees use their smartphones instead of business landlines for work, it can be cost-effective for some organizations, but there are downsides to cutting the cord, including problems with call quality and issues around organizational control.

The traditional desktop telephone persists in most enterprise settings today, despite the rise of smartphones.  Before you unplug all your business landlines, think about some of the problems you may encounter. 

Do you want important customers, clients and other contacts to have access to your employee’s personal phone numbers? 

Mobile phones are essential for many personal activities, but employees really don’t need mobile access at work.  It is instead better to have landlines for the work environment.  In these scenarios, employers will appreciate the lower costs of wired services and employees will appreciate the improved reliability. 

“Our advice to clients is not to switch from an office-based phone to a cell phone exclusively,” said Fred Manuel, General Partner at Alliance Cost Containment in Ann Arbor, Mich., a company that works with businesses to reduce costs in all areas of operation.

Manuel said that while his focus is helping customers cut costs, using a cell phone can cost more in the end because it can be frustrating to customers who can’t hear you clearly on the phone.

“What you’re saying to your client is that you care more about saving money than delivering good service and you may be sending the message that you really don’t have the money for an office with a land based phone,” Manuel told Business News Daily.

As you know, everything has its advantages and disadvantages.  Whether keeping a separate landline for your mobile phone is going to work for you or not, would depend on your needs and preferences; but taking them into consideration won’t do you any harm.  Keep your landline and all of its advantages and save even more money on your long distance service contact Business Network Long Distance, your trusted business partner.

Cell Phones in the Workplace: The Good, The Bad and The Ugly

Cellular phones seem to be a part of society, now even entering the workplace.  Many employers are attempting to go strictly cellular at their businesses and seem to think it is a good idea to let their workers bring their own cell phones to work.  Business owners may be thinking that it can possibly reduce costs, ensure a better work environment because the employees are happier and even attract new and more creative workers.  Despite the good this idea affords, the bad and the ugly can be costly for your business.

Some may think it’s abnormal to think that you would let your employees bring their smart phones to make them happier; nevertheless, while you're paying them for productivity and creativity, they are wasting time on their phones!  As an employer, you are paying them to work for your business and contribute to the company’s growth.  If you were visiting a store or a potential business partner, how would you feel if they were texting and watching videos instead of working? 

Another factor to consider is how easy it is to be distracted by your smartphone.  Cell phones provide enjoyment in all forms and can continually entertain us.  They provide captivating material between the texts, social media and games; you can be entertained for hours without even using the phone as a phone.  So are you paying your employees cell phone bills for calls or for the extras? 

While banning cell phones is an unlikely solution, instead keep the cell phones for personal calls and the business line for work.

One last problem to consider in providing cell phones to employees is that it blurs the line between home and work.  Employees answering personal phone calls at work and working from home can get difficult and stressful quickly. 

Keep the cell phones out of the workplace and save money.  Business Network Long Distance is your trusted business partner, helping you keep cost down and productivity high.