So, You Want to Start Your Own Online Business

So, the desire for starting a home based online business is strong within you. You have some great ideas, lots of enthusiasm and you are ready to start. You’re going to make a huge amount of money and be your own boss. Well, wait a minute, regardless of the claims of how easy it is to get rich off the Internet, you will find that starting an online business is no different than starting a business in the off-line world. Maybe you might just need to consider some things first to make this decision as profitable and mistake free as you can.When contemplating starting an online business you need to take an honest look at yourself. And some of the questions you might want to ask yourself are – what are your skills? And what kind of interests do you have?I know of a number of people who started their online business in the fields that they worked. You will also want to think of the type of jobs you truly enjoy. For example, a friend of mine is an avid Brazil football nut and he set up a website selling Brazil football memorabilia. It could be that you decide to step outside your current area of expertise and simply become an affiliate marketer even though you’ve never sold a product in your life. Regardless of the many options available to you, there are a number of things you should do first.1. Do your homework before starting your online business, by this I mean “market research”. Don’t make the mistake of putting a lot effort, money and time into developing a service or product and then try and find a market for it. You can not make people like your service or product. Instead, find out what the consumer would like and then design a service or product to fit that need. And just like a real world business there is a certain amount of risk associated to making money online. Therefore you should also study your competition. Find out what they are doing and what works or what doesn’t work. The more information you have in regards to the market and your competition the better chance of success you will have.2. In starting your online business you need to have a plan and then the determination to follow it. What will it cost to start? Where will you get that money? If you are going to ask for a loan you will need to have a business plan to present to the loaning institution. It might also be a good idea to have a business plan even if you are funding your online business yourself. It will help to focus the mind and give your business building activities direction and milestones to attain along the way.3. To get your online business going you will need to make a time commitment and keep to it. Also bear in mind it might not be easy to hold down a full time job and work on your new online business as well. You probably will not be able to establish your new internet business unless you set a specific time to work on it. Starting an online business and making it profitable enough for you to work full time on it can take more time than you think. So, your mindset from the outset will be crucial here.You have done the required research, taken the time and made the commitment for your online business. You now feel that you have a great product that the world wants and at a price they can afford which also makes you a profit.4. You have one more thing to consider marketing: Your customers need to be able to find your product so they can purchase it. This is one of the most important areas of work in your business development activities. And it can be done either online, offline, or a combination of them both. You will need to continually study what works and what doesn’t until you find what works best for you. However, remember what works today may not work tomorrow and you must be willing and able to change your approach to marketing as the consumers dictate.So, depending on the type of online business model you have adopted or chosen, you will either have to seek out and learn marketing strategies to promote your internet business, or ensure that you have associated yourself to a company that will commit to teaching you how to apply different strategies to your marketing efforts.I wish you all the best in developing a highly successful online business.

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Car Financing Under Islamic Banking

Current Scenario: The auto industry, especially in the United States, is in a downward spiral alright, and no one has a clue what’s in store for this industry. The same trend is noticeable in other parts of the world, including Japan. With the biggest names in the auto world like General Motors, yes GM, and Toyota bleeding non-stop, it is anyone’s guess how long these venerables of the auto industry can hold out against the market elements.Time for Bargains: For the consumers though, especially those on the lookout for a good deal, many bargains are to be had for the asking! This may be the best time to strike the iron i.e. buy a Car! And there is any number of financing options available to bring that dream car of yours into the garage!The Islamic Option: In this article, we shall take a look at the Islamic financing option for purchasing a car. Financing for purchase of cars under Islamic Banking is done under the contract of ‘Murabaha’. Simply speaking, this is a cost plus profit mark up contract.Typically, the Islamic Bank or financial institution would have certain criteria to evaluate your creditworthiness and eligibility for a car loan, having regard to your income either from salary, or business i.e. your occupation, and other sources; your monthly expenditures, statutory payments etc, and finally your net income.Now, suppose after going through the above process, the Bank gives you the good news-that you are indeed eligible for a car loan of USD 25,000.00 that you had asked for, to buy your dream machine. The next step would be to work out the profit mark up of the Bank on the loan amount. Suppose this works out to USD 5,000.00. That means the total cost of this deal, for you, is USD 30,000.00. Of course, the Bank would have factored its profit mark up while calculating your eligibility amount for the car loan. The other variation in the above case would be that the cost of the car is USD 20,000.00 and the profit mark up USD 5,000.00 or less as the case may be.Apart from the above, other details to be worked out include:

Down Payment: Some Banks would require you to make a down payment for the car-that would increase your stake in your dream car, as well as bring down the amount/number of installments payable by you.
Repayment: The loan amount, plus the profit mark up, put together, would be divided into equal number of installments, agreed upon, say, 60 or 72 as the case may be, and you would be required to repay the same within the stipulated time. Some Banks offer a moratorium on repayment, that is, they allow you to start repayments after, say, two or three months after disbursing the loan. Some other Banks also offer to rework the installments after a part of the loan is repaid. Say you have repaid 12 installments. The Bank then works out a new EMI on the balance of the loan amount remaining after payment of the 12 installments. Upon full repayment of the loan, your car becomes really yours!
Add-Ons: In the increasingly competitive environment that the Banking industry is functioning, it is not unusual to get a few add-ons with your car loan – zero balance account, free/concessional insurance for the car, free advisory services in respect of the car loan, as well as other services on offer by the Bank, etc. Do avail of the freebies!
The Delivery!: Assuming that you have already identified your baby, that is your dream car, and the place that you wish to buy at, it is now the turn of the Bank to buy the car from the dealer on your behalf, and have it delivered to you!
Go on and Enjoy your Drive! Of course, there are no free lunches. Please do your due diligence before deciding to take a loan. And don’t forget that seat belt! HAPPY DRIVING!

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How to Find Low Interest Personal Loans For People With Bad Credit

Wondering where to get a personal loan?You have a variety of places where you can get a personal loan.If you’re looking for a personal loan, there are many places you can go. The key is to take your time and compare your offers, so you can find the best rate with the lowest fees.Where to look for a Bad Credit Loan?Fill out one form and receive up to four Bad Credit Loan offers. You can then compare rates and fees and decide which one has the best product for you.Credit unions:Usually credit unions offer Payday Loans at interest rates that are a couple of percentage points below other lenders.Banks:Although it is possible to get a Bad Credit Loan from a bank, many prefer for you to get a credit card simply because that creates a long-term relationship between you and the bank.Advantages:A Bad Credit Loan can have certain advantages. If you do not own a home or do not have much in home equity, a Bad Credit Loan may be your best choice. If you get a Bad Credit Loan that has a fixed rate and term, it forces you to be disciplined and pay the loan off within that timeframe, unlike a credit card which tempts you to continue spending. Also, the interest rate on a Bad Credit Loan is usually lower than that of a credit card (although the credit card’s initial teaser rate may be lower).Disadvantages:When considering a personal loan, be sure to weigh the disadvantages. For example, the interest payments are not tax deductible while the interest on a loan secured with property usually is. Also, rates can easily be higher than 10 percent on a personal loan. Mortgage and home equity loan rates are much lower than that. That means you will end up paying far more interest on a Payday Loan than you would on a home equity loan for the same amount.All that being said, sometimes there is no way around needing a personal loan. If you decide to get one, remember that the rate you get will not be as good as it would be with a secured loan. This makes it is especially important to compare as many offers as possible so you get the best rate available to you and also pay as little in fees as possible.A good way of solving your money problems is through applying for Payday Loans. But of course, a Payday Loan would mean that you are obligated to pay for it every month with your own money. So if you aren’t sure that your salary could handle another kind of payment, then maybe you should think hard before you do apply for a Personal loan. Not only will a Payday Loan limit you of your monthly budget, it could also be troublesome especially if you aren’t prepared with the loans interest rates.It is also best if you have a good knowledge regarding the terms and conditions of Payday Loans. Ask friends and relatives about the lending companies and where to get the lowest interest rates. This kind of knowledge could equip you with enough know how when it comes to applying for your own Personal loan. Be sure and do yourself a favor and find out what and what not to do when it comes to Bad Credit Loans. As the name suggest, Payday Loan can be taken out for any of your personal needs. However, make sure that the reason you are going for this loan is a legitimate one and do not indulge in taking out a loan for silly purposes.For US citizens it is very easy to get a Payday Loan sanctioned by banks, and reputed vendors, who in turn charge a very low and affordable interest rate.A good way of solving your money problems is through applying for Unsecured Cash Advances. But of course, a Personal loan would mean that you are obligated to pay for it every month with your own money. So if you aren’t sure that your salary could handle another kind of payment, then maybe you should think hard before you do apply for a Personal loan. Not only will a Personal loan limit you of your monthly budget, it could also be troublesome especially if you aren’t prepared with the loans interest rates. It is also best if you have a good knowledge regarding the terms and conditions of Bad Credit Loans.Ask friends and relatives about the lending companies and where to get the lowest interest rates. This kind of knowledge could equip you with enough know how when it comes to applying for your own Personal loan. Be sure and do yourself a favor and find out what and what not to do when it comes to Unsecured Cash Advances. As the name suggests, Personal loan can be taken out for any of your personal needs. However, make sure that the reason you are going for this loan is a legitimate one and do not indulge in taking out a loan for silly purposes.For US citizens it is very easy to get a Personal loan sanctioned by banks, and reputed vendors, who in turn charge a very low and affordable interest rate.The biggest benefit of applying for a Personal loan on-line is that you will get an instant approval decision.

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