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    Member You - Need Credit for Your Business? Some Tips on Getting Started

    Grandma Says...
    Southern grandmothers have often said, “there are only three times a respectable person’s name should be in the paper: when you are born, when you are married, and when you die.” <
    with the stronger credit rating) if your business is new.

    For MasterCard or Visa, the best, recommended by "Smart Money" magazine, is Advanta's Platinum Business Card. You will have to rely on the credit report of one of the individual owners of your business, but you can use your own discretion in transferring business charges from a personal credit card to your Advanta card. (This is not possible with American Express).

    Advanta's best offer is a c
    It is Easier to Increase Sales than to Cut Costs
    We are constantly hearing about the importance of cutting costs to get a business back on track. I certainly believe that we should spend wisely, but serious cost cutting is killing some companies who could direct their efforts in a more productive manner that would benefit their company, their investors, and their employees a lot more. That is increasing sales.Logically, you can only cut co
    One of the most significant problems that small and home-based business entrepreneurs face is getting capital to finance the growth of your business.

    If you're like most small business owners, you often charge expenses to your personal credit card(s). This will work for a while, but there are 4 reasons that your business must establish its own credit lines as soon as possible.

    1. The greater the separation between you and your business, the better. Having a separate credit card in the name of your business establishes clearly that your business is a separate entity.


    2. You are personally liable for charges that you make for your business on your personal credit cards, because they were made in your name and not in that of the LLC or corporation.


    3. Your business will build credibility that will make it easier for you to borrow larger and larger sums as you expand. Not seeking credit in the name of the business conveys the impression that you don't expect your business to be around for long.


    4. You can more easily delegate bookkeeping and accounting responsibilities. A bookkeeper can readily identify and record the charges that are for your business without your having to expose your personal credit card information.


    Here's how your company can begin to establish credit:

    1. Open two or three credit accounts with major suppliers, such as Office Depot or Staples. Be sure not to pay off your balances in full each month--the account needs to maintain some sort of balance for at least 12 to 18 months to build a credit history.


    2. Open an account with a major credit card company, such as a MasterCard/Visa or American Express. American Express will typically want to open an account linked to the account of the majority partner (or the cardmember partner with the stronger credit rating) if your business is new.

      For MasterCard or Visa, the best, recommended by "Smart Money" magazine, is Advanta's Platinum Business Card. You will have to rely on the credit report of one of the individual owners of your business, but you can use your own discretion in transferring business charges from a personal credit card to your Advanta card. (This is not possible with American Express).

      Advanta's best offer is a c
      Why Not PR That Gets Real Results?
      And not results you can measure only in terms of magazine circulation, TV audience numbers, or news release pickups.But rather, results that come from a public relations effort that creates the kind of key stakeholder behavior change that leads directly to achieving your managerial objectives.In other words, results that come from doing something positive about those important o
      . Having a separate credit card in the name of your business establishes clearly that your business is a separate entity.


    3. You are personally liable for charges that you make for your business on your personal credit cards, because they were made in your name and not in that of the LLC or corporation.


    4. Your business will build credibility that will make it easier for you to borrow larger and larger sums as you expand. Not seeking credit in the name of the business conveys the impression that you don't expect your business to be around for long.


    5. You can more easily delegate bookkeeping and accounting responsibilities. A bookkeeper can readily identify and record the charges that are for your business without your having to expose your personal credit card information.


    Here's how your company can begin to establish credit:

    1. Open two or three credit accounts with major suppliers, such as Office Depot or Staples. Be sure not to pay off your balances in full each month--the account needs to maintain some sort of balance for at least 12 to 18 months to build a credit history.


    2. Open an account with a major credit card company, such as a MasterCard/Visa or American Express. American Express will typically want to open an account linked to the account of the majority partner (or the cardmember partner with the stronger credit rating) if your business is new.

      For MasterCard or Visa, the best, recommended by "Smart Money" magazine, is Advanta's Platinum Business Card. You will have to rely on the credit report of one of the individual owners of your business, but you can use your own discretion in transferring business charges from a personal credit card to your Advanta card. (This is not possible with American Express).

      Advanta's best offer is a c
      Using a Contact List Profitably- Part Two
      Besides a survey, your contact list can be used to generate sales directly. Some of the following ideas must be done one-on-one and others can be done to large quantities of prospects at a time. They all have varying levels of effectiveness. A general rule of thumb is:The more personal the contact, the greater the chances of a sale. That means that an in-person interview has a better success r
      it in the name of the business conveys the impression that you don't expect your business to be around for long.


    3. You can more easily delegate bookkeeping and accounting responsibilities. A bookkeeper can readily identify and record the charges that are for your business without your having to expose your personal credit card information.


    Here's how your company can begin to establish credit:

    1. Open two or three credit accounts with major suppliers, such as Office Depot or Staples. Be sure not to pay off your balances in full each month--the account needs to maintain some sort of balance for at least 12 to 18 months to build a credit history.


    2. Open an account with a major credit card company, such as a MasterCard/Visa or American Express. American Express will typically want to open an account linked to the account of the majority partner (or the cardmember partner with the stronger credit rating) if your business is new.

      For MasterCard or Visa, the best, recommended by "Smart Money" magazine, is Advanta's Platinum Business Card. You will have to rely on the credit report of one of the individual owners of your business, but you can use your own discretion in transferring business charges from a personal credit card to your Advanta card. (This is not possible with American Express).

      Advanta's best offer is a c
      Six Tips for Confronting Negative Behaviors
      It is a fact of organizational life – negative, unacceptable behaviors will happen. When they do, the leader must address them.I normally emphasize the benefits of encouraging positive, productive behaviors over punishing negative ones. However, my clients and seminar participants often ask questions like:- “What about team members who don’t want to play nice?” or- “What if I c
      accounts with major suppliers, such as Office Depot or Staples. Be sure not to pay off your balances in full each month--the account needs to maintain some sort of balance for at least 12 to 18 months to build a credit history.


    3. Open an account with a major credit card company, such as a MasterCard/Visa or American Express. American Express will typically want to open an account linked to the account of the majority partner (or the cardmember partner with the stronger credit rating) if your business is new.

      For MasterCard or Visa, the best, recommended by "Smart Money" magazine, is Advanta's Platinum Business Card. You will have to rely on the credit report of one of the individual owners of your business, but you can use your own discretion in transferring business charges from a personal credit card to your Advanta card. (This is not possible with American Express).

      Advanta's best offer is a c
      Media Training - Who Needs it?
      It's flattering that the media has noticed your work – and you’d love the notoriety. But following that initial pride, your reaction might be (not necessarily in this order):Fear. Trepidation. What if I blow it? What if they ask me a hard question I can’t answer? And, omigod, do I really need this headache when I have a business to run?If this all sounds far
      with the stronger credit rating) if your business is new.

      For MasterCard or Visa, the best, recommended by "Smart Money" magazine, is Advanta's Platinum Business Card. You will have to rely on the credit report of one of the individual owners of your business, but you can use your own discretion in transferring business charges from a personal credit card to your Advanta card. (This is not possible with American Express).

      Advanta's best offer is a card with 0% APR for 15 months on balance transfers and a 5% rebate on certain purchases. You can find a link to this offer on the resource page of our website.


    4. Let your banker know that you are planning to open a credit line with them. She will confirm that when the time comes, it will be to your advantage if the majority partner or shareholder is female.


    5. Meanwhile, if you must use a personal credit card, designate a single card to use for your business expenses. This will make it clear that in your own mind, your business is separate from you--and it will save considerable time in determining which expenditures were for business purposes.


      6. Then, as soon as you can, transfer charges from your personal card to a new business card such as the Advanta Platinum card and save yourself some interest.

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