The Best Way To Ruin Your Property Investment

If you are focusing on property as part of your investment portfolio, then it can seem one of the surest ways of providing a financial future. After all, it’s extremely unlikely your house is just going to fall down – and even if it did, you still own the land. People are always going to need homes and the housing market and appetite for mortgages will always rise again, phoenix-like, from any crash that they go through. So what could be safer?

While property investment is a viable way of diversifying your financial choices, it does have one area of concern. Property tends to be changeable. Even if you buy a house, don’t touch it, don’t rent it out or live in it, it’s still going to be subject to change. It’s still going to be buffered by high winds, fall victim to pests, or have roof tiles slip and crash into the ground – which, if you’re not careful, will happen to your financial planning too.

That means that maintenance becomes a foremost concern. There’s no point in having a property for a financial security if it’s going to come apart at the bricks and mortar. Whether you buy a perfect home or one in need of a little more TLC, the same needs are going to apply: it’s going to need work done to it, to maintain the health of your finances. And the moment you get into the renovation, remodeling, and maintenance side of property, the risk of falling into a money pit becomes greater and greater.

You may decide the best way of preserving your investment is to do a lot of the work yourself. This will especially appeal if you’re a DIY fan; someone who finds enjoyment in the idea of taking on physical labor and learning new skills. When you make the decision to do the work yourself, it’s often not long until you find yourself researching in detail the different types of saws you can buy, studying this Millermatic 211 review from pickwelder.com, daydreaming about how good it will feel to do any work at all with your own bare hands…

… and then you realize that, maybe, you’re not so good at this.

If you make mistakes by taking on tasks you don’t have the skill or expertise to complete, then things can get expensive incredibly quickly. Not only will you have wasted materials for your own efforts, but it’s going to cost a lot more to rectify the mistakes you made. Unless you really, truly, know what you’re doing, then always bring in professionals for any kind of household repair, maintenance, or change.

If you decide that you’d still like to take on the work and are willing to take a few night classes you can learn some extra skills. While this is better than just diving on in and hoping for the best, do try and take into account the time factor. While you may be able to master the skill, that doesn’t mean you’ll do it quickly. Always factor the costs for your own time into the equation when figuring out the best way forward financially.

7 Smart Tips to Start Your Distribution Business

Virtually anybody can start a distribution business – however, you would need to have a bit of passion and drive to ensure that your distribution business thrives and eventually becomes successful. Generally, distributors purchase products directly from the manufacturer before selling them to others – hence, they are commonly regarded as middlemen. Below are a few tips to help your distribution business grow

1. Decide on a product for distribution

This is by far the most critical part of your distribution business. Ideally, you want to do your research here and pick a product that is sure to do well on the market. Apart from sourcing for a product, you would also have to ensure that you have a reliable company to always buy these products from when you need to restock. 

2. Get in touch with a company that supplies what you sell

Once you have successfully settled on a product you would like to officially distribute; you need to now ensure that you find a reliable shipping policy/company that is effective and yet affordable.

Ideally, you want your products to get to you as quick and as safe as they can. A good shipping policy can be the blood vessel of your distribution chain.

3. Settle for a company name

While this may seem trivial, it is indeed vital. Ideally, you can pick a simple company name such as your initials followed by the word “Distributors”. Although, it is important that you choose a company name that commands respect and depicts real professionalism.

Also, you can get in touch with businesses near you that sell items that you wish to distribute. The goal here is to speak to whoever is in charge of purchases and convince them as to why they should use your distribution services.

4. Keep in touch with the market

Consumer taste can change very quickly, and it is essential to be one step ahead of current market trends and consumer choices. Failure to keep in touch with current consumer choices on the market can cause severe damages to your corporate strategy and can even bring your entire distribution business to its knees.

Therefore, identify the items that people want and how much they are willing to pay for them. This will go along way in defining your distribution strategy.

5. Building good relationships is vital

Good relationships are essential to a distributor-consumer transaction. Distributors only help to close the gap between manufacturers and the final consumers. Therefore it is necessary for you to build and foster positive relationships with consumers and retailers within the supply chain.

Here the goal is not necessarily to crash the prices of your products to outsell your competition; instead, seek to build strong relationships that are established on mutual trust and understanding that can turn out to be priceless.

6. Stay on top of your credit

Distributors play the role of linking manufacturers and consumers and getting stuck between the value chain has its own advantages too. As a distributor, the onus lies on you to make the connection works seamlessly, by taking the producers product to the market and helping customers have access to them easily.

However, in the process, ensure that you are not overly providing credit extension to customers.

This can happen where a customer demands an increase of their credit limit while your manufacturer is also seeking for the payment of products supplied to you. Adopting strict and healthy credit check references, in addition to explicitly explaining your terms of credit and payments to new customers and setting a credit limit can help you avoid this dilemma.

7. Leverage on technology

Businesses are getting smarter, and if you refuse to move with the trend and embrace modern technology, your competition will eventually drive you out of business. Because every business is different, you would need to come up with a unique strategy to dominate your target market. Usually, different markets will require a different approach and level of technological input to grow.

However, as a distributor, it is essential to keep track of your inventory, order processing, keep track of your accounting and provide a flexible payment plan to facilitate transactions between you and your customers. Which is why a comprehensive order management software like the EMERGE App is instrumental to the success of any distribution business. The ease at which Emerge can manage your business workflow from sales to delivery and keep track of product location is crucial to any distribution business.

Building healthy relationships is crucial to the success of any business, especially one that involves you bridging the gap between the manufacturer and the final consumer. In addition, adopting some of the best technology in combination with being on top of market trends, can send your distribution business to the top in no distant time.

Banish Money Mistakes with a Daily Finance Routine

Knowing your financial state on any given day can help you stay calm when large financial expenses appear out of nowhere. And unexpected costs do have a way of cropping up at the most inconvenient times.

Even if you have several forms of insurance, getting a payout can be challenging at best and turned down by insurance companies at worst.

According to West Coast Trial Lawyers, “Despite their advertisements, insurance companies are in the business of making money, not helping people. When tragedy strikes, and you need them the most, most insurance companies will avoid paying your claim even though they know it’s valid. When a claim is too expensive, your insurance company may delay, undervalue, or even deny your claim outright, hoping that you’ll just give up.”

Want to be financially prepared for anything? Enter the power of a daily money routine.

Routines: The not-so-secret secret to a better day

Routines have long been the secret power of top performers. Tony Robbins has a 3-part morning routine that he does daily without fail. Oprah Winfrey starts her day with 20 minutes of meditation, followed by exercise, music, and a hearty meal. Steve Jobs admitted he had one question he asked himself at the start of each day.

At the heart of a good routine is the truth that we are bad at doing what we say we’re going to do. Routines put our good intentions and worthy habits into our daily schedules.

Stick with a routine, and it will become an effortless part of what you do every day.

What to include in a daily money routine

Having a daily money routine does not need to take an hour-long to complete. It can be tailored to the main areas of your spending and your earning. Some days you might decide to devote more time or less, depending on the tasks you need to complete. But here are the essentials to cover.

Check your inbox or the mail for any bills that have come in and pay them immediately. Do you only remember to pay your bills after the second late-payment notice? Or what about setting aside that percentage of your monthly income for your savings?

Yes, payments can be automated. But there are some that you might have decided you wanted or needed to do manually. Even for automatic payments, make sure the payment has gone through. And that there is enough balance in your checking account for the withdrawal.

Check your savings accounts. Thought that you were doing well at putting money aside? You might be under a misconception. A GoBankingRates survey found that over half of Americans have less than $1,000 in their savings account. What about you? Do you know exactly how much you have in savings? Sometimes a daily reminder is all it takes to help curb impulse spending and keep you pushing toward your financial goals.

Make sure you are within your budget allowance for daily expenses. Before you step outside of the house and are tempted by takeout coffee and quick bites to eat on the way to and from work… Evaluate how much money you can safely spend in order to stay within what you’ve budgeted for daily expenses for the month.

Log expenses. After you come home from work, log your expenses for the day. So you know how much you can safely spend the rest of the week and month without jeopardizing your budget.

Read 1 finance article a day. Reading about financial topics will grow your knowledge on financial matters. Which will lead to better decisions.

Set your financial intention for the day. Do one thing for your financial state today that will pay off in stability in your future. It could mean deciding to exercise instead of watching TV (or watch TV while exercising). The healthier you are, the fewer doctor bills you will need to pay. Or it could mean researching and reading a prospectus for a fund you are considering investing in. Or it could be having a no-spend day, where you pack a lunch from home instead of eating out. Choose one intention, and follow through.

Ultimately, your daily finance routine can help you stay on the right path in your journey toward independence. It will help you grow your knowledge on topics that might have seemed too difficult for you to grasp. Andit can lead to what you want most: Financial stability for life.