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Fastest Way to Research a Business Idea for Online Profitability

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Research Business Idea

How do you test the viability of a business idea?

Somewhere between jotting down your idea and naming your business on a piece of paper and actually starting a business, there’s research you should do that may help determine either the success or failure of your concept. Doing the proper research helps you analyze your idea, its market potential and your competition. research business idea

In today’s post I want to talk to you about a fast way to research a business idea for online profitability. The reality is there are only a few key metrics that are really important when it comes to testing the online market potential for your idea.

Before you begin investing your time and hard earned money, it’s essential to define your target market, assess if the market is large enough, determine if there’s a demand for your product or service, and what type of competition you’re up against.

Let’s dive into this a little deeper.

Spending hours, days, or weeks researching that perfect “idea” not only takes away precious time, but it indicates that you may not be using the right tool or process. You should be able to research a business idea in a matter of minutes. Now I have to confess before I started using a research based platform I invested countless hours doing my own research manually.
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How to Get a Business Cash Advance that Builds Biz Credit

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How to Get a Business Cash Advance

In today’s lending climate, finding traditional business loans with bad credit or no credit and little or no collateral is next to impossible. The good news is because of this tight credit market some alternative financing sources have spawned new opportunities for business owners to get access to the funding they need. how to get a business cash advance

Now some of these programs have been around for quite some time. According to a USA Today article, 65% of commercial loans issued to small businesses were considered “unconventional” — including factoring, business cash advances and revenue based lending – up from about 25% two years ago.

In this particular post we’re going to address the business cash advance also known as a merchant cash advance. This specific program is becoming more popular and mainstream because it’s fast, requires minimal paperwork, and doesn’t require pristine credit ratings or collateral that many other programs do.
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Do I Build Business Credit? Five Reasons Why You Should

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Do I Build Business Credit

In a recent post for the Small Business Administration (SBA) I covered five key reasons to start building business credit for your startup or existing business. If you have been following my blog for some time I know we’ve talked about this at length, but there have been a few additions recently, I thought you may find helpful. do i build business credit

When it comes to building credit in your company’s name, Marc Kirshbaum, president of Experian’s Business Information Solutions group says “Just as your personal credit has a big impact on your financial health, your business credit can help you get competitive business loan rates and terms from potential suppliers.”

Let’s recap the five key reasons:

Business Credit Reports – According to Creditera, in the first 6 months of 2013, Dun & Bradstreet had 45 million business credit report requests and Equifax Commercial had 35 million. It’s clear that suppliers and lenders conduct business credit checks. If your business does not build its own credit then your personal credit will always play a major role in credit granting decisions for your company.
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The Best Way to Build Business Credit (Part 2 of 2)

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Best Way to Build Business Credit

In Part 1 of the Best Way to Building Business Credit we covered credit listings, creditworthiness, credit categories, and Tier 1.best way to build business credit

Part 2 of this series we’ll cover the remaining tiers of the structure. As a quick recap, Tier 1 should consist of 4-5 reporting trade lines made up of service providers and starter vendors across all three major business credit agencies.

Once you have accomplished this your business will now have a business credit score generated across all three business credit reporting agencies. For example, with Dun & Bradstreet it requires a minimum of three reporting trade experiences to generate a Paydex® Score. Like your personal FICO® score, a business credit score is a statistical measurement of your company’s creditworthiness.

Now keep in mind, a business credit score is only one indicator that lenders and suppliers use to assess the creditworthiness of a business. In Part 1 we discussed the other key factors that contribute to creditworthiness.
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The Best Way to Build Business Credit (Part 1 of 2)

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Best Way to Build Business Credit

Is your startup or existing business ready to build business credit?

Do you know what crucial business credit building components you need before your company starts applying for credit? best way to build business credit

Well, the good news is in today’s post we’re going to take out all the guesswork and show you the best way to build business credit. According to Wells Fargo Bank, “The longer you delay establishing business credit, the longer you delay taking advantage of business financing.”

So let’s get started.
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