How to Lose a Million Dollars

[Today's post is by a new blogger on the scene, AbandonedCubicle.com, who's currently planning an early retirement by his mid-forties. He doesn't have everything neatly planned out for his life “after the cube” yet, but he's definitely had to learn a few things to get here. And today he shares some of these things, along with the hefty price tag he paid to acquire them ;) Enjoy!]

You've probably lost a huge sum of money before and not even known it. I know I have. It's not a fun lesson to learn, and unfortunately you don't catch it until a lot of the damage has been done.

In my case, it came in the form of opportunity cost. The things that you spend money on today that will end up costing you a lot more in the future. Even up to a million dollars more!

We live in a society that's constantly marketing to us everywhere we turn, and our friends and neighbors only seem to raise the bar for us. We were once fine driving our old clunky cars, and then our pal Joe drives by in a shiny new Lexus and all of a sudden we feel the need to upgrade! And so it goes with all other areas of life as well…

Over the past 20 years, and up until recently, I was that guy keeping an eye on what Joe was driving. And what new appliances were rolling into his house, how many channels he was getting off that dish satellite on his roof, etc etc. I was on financial “autopilot” – happy to be putting in a measly 10% into my 401(k), figuring, like everyone else, I'd be working until 62 or older.

Perhaps the saddest case of my consumer epic fails occurred fifteen years ago when I went out and bought a $1,000 Tag Hauer watch after getting a nice raise at my multi-national company. It sure was pretty! I thought I was James Bond, or at least the IT geek version of James Bond!

The not-so-funny part was getting laid off just a few weeks later. I don't think that ever happened to James Bond, did it? There were times when he handed over his famous license to kill after some silly misunderstandings, but me? I just handed over my server recovery cheat sheets and passwords (then rolled away in my vintage Lotus Esprit, of course…)

As for the rest of the lost million? Here it is, folks, in all its gory detail… The briefcase of cash thrown into Niagara Falls (to avoid capture by the Russians) which comprised of the following:

(The 20 Year Drain column totals assume that I'd instead put that money into

a low-cost S&P500 index fund, yielding 7% annual returns)

D'oh! That $1 million would have easily paved the way towards retirement in my early thirties, a full decade sooner than currently plan. With hindsight, though, comes a little bit of wisdom and an opportunity for redemption… And had I at least not stopped and evaluated when I did, I'd have gotten into my fifties, or even sixties, until I realized the path I was on!

Fortunately I stumbled upon Mr. Money Mustache's blog in the middle of a particularly rough stretch of work (some project from hell if I recall) and I completely devoured it. Then felt pretty bruised and beaten from the righteous financial left-hooks.

Had I really been that careless with my finances? I thought I was doing everything by the book?

Turns out I was doing everything by the book, only the book according to Madison Avenue. That mustachioed wonder provided a turning point for me, and in entered the Frugal James Bond…

Much smarter than before (and having sold that silly Tag Hauer on eBay!), I've since taken the reverse approach of those first 20 years and as Mike Holmes would say, “Made it Right!”

Eliminating, or reducing, those opportunity costs is now the priority. Throw in some improved income from the day job, the marvelous wife's business, and a few rental houses – and the Financial Spreadsheet of Doom from above starts to look a lot better.

The bottom line comes down to this: it's never too late to adjust your spending habits and make changes that will guide you to a rewarding retirement.

The changes we had to make were not hard choices. That's the sweetest part of all! We discovered that these expenses were in large part adding complications to our lives, and the simplifying of our budget led to better alternatives that not only saved us money, but quality time as well. It brought our focus back to what matters the most.

As for James Bond, well, I think he'd still be a pretty cool cat even with a Casio wristwatch (complete with hidden laser, of course.)

*******

Cubert AC blogs over at AbandonedCubicle.com, and lives in beautiful, but weather-wild, Minnesota, along with his wife and two kids. He writes about his personal journey leaving behind his corporate gig, and you can find him on Twitter @cubertAC.

EDITOR'S NOTE: Pretty frightening amounts to add up, eh? How much of that one million have YOU thrown away in the past 20 years? I can shamefully answer to at least $600,000 myself…

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What to do While Searching for Business Trucking Lloans

In the case you are looking for business truck funding, there's never ever been a much better time to borrow. With an extremely competitive market you can get a great deal on a conventional business loan rate and normally approximately a 66 month term. Conserve loan by getting the best rate offered. Numerous various banks make these loans possible. If the loan quantity is under $55k be prepared to put down a minimum of 20% on your brand-new truck but if you can manage to put more down you should constantly do it because you can get an even better deal that way. Look out for the charges though. If the quantity you require is greater than $50k, you can rely on charges being a part of the formula.

 

For those seeking a method to launch a service or those searching for a future as an owner operator, industrial truck loans are the response. Conserving up what you have to invest in your very own fleet can take years but with a business loan you can start on your brand-new business right away. With a commercial truck loan you might pay off your debt quickly and easily once your fleet gets rolling and your business starts to grow. View website



If you don't want to go to among the more popular companies for your industrial truck loan you might always go with the U.S. Small Business Administration. The SBA can offer you competitive rates you can easily pay for. Term length is generally about 7 years which provides you a lot of time to repay your loan in its entirety. There are no charges related to an industrial loan from the SBA and there is no prepayment needed. Hop over to this website You could be authorized for thousands or millions of dollars depending upon your requirements.





 

A commercial truck loan is a terrific method for many individuals to go into service. Just understand that you'll require sufficient loan for both trucks and trailers though. It's best to do some shopping around so that you will have a much better concept of just how much money to get. Also you'll have to include a structure for rent or for purchase too to accommodate the dispatcher that will be working for you as soon as you've gotten set up with your brand-new or used fleet. Remember the motorists that will be working for you either. There are a lot of additional expenditures when starting up a trucking business. Make sure you jot down everything you'll need in order to avoid any horrible surprises. You don't wish to get an industrial loan on a fleet of trucks only to discover you do not have adequate cash to rent a structure for your business or absence launch money for your brand-new employees. Shop wise and you'll be rolling in cash in no time. Click to investigate





 

No One Cares How Many Followers You Have – How to Properly Measure Social Media Success

No One Cares How Many Followers You Have – How to Properly Measure Social Media Success written by Guest Post read more at Duct Tape Marketing

photo credit Pixabay

When social media first started being used by businesses, it was all about the numbers – the bigger, the better. Your performance was measured in follower counts or the volume of Likes, Shares, Retweets or Pins you could accumulate.

But as social media has evolved to become a core marketing channel, the way we interpret these numbers has changed. As we spend hours every day scheduling Tweets, finding content for Facebook and editing pictures for Instagram, we must be able to determine if the effort is paying off. We need to know whether these numbers are indicative of success and how they correlate with actual business growth.

What Is Social Media Success?

As a brand, counting followers is a 'vanity metric' that is not always reflective of success. Although having a large number of followers can be beneficial in terms of your reach, credibility and positioning against competitors, that number is not a representation of how deeply your brand's message resonates with its audience and is not an indicator of how many sales or leads you are generating through social media.

Social media is a marketing channel that requires as much time, effort and often as much spend as the likes of SEO, PPC and email marketing. Its success should, therefore, be analysed and defined in the same way – in terms of business KPIs.

How To Measure Social Media Success – 4 Steps

1. Situation Analysis

When measuring the results of any marketing activity, you require a starting point. Carrying out a detailed audit on your social media channels will help you understand your current performance and give you a position from which to plan growth.

Firstly, use each platform's analytics tools (Facebook Insights, Twitter Analytics etc) in conjunction with Google Analytics to evaluate your strengths, weaknesses, opportunities and to determine who your audience are on each channel.

This is of particular importance as audiences can differ greatly from channel to channel. For example, Irish Parcels, an Irish courier company, has a primarily female following on Facebook, yet their Twitter audience is slightly more male. This will not only impact the content you create for each channel but will also affect the goals you set.

Take a close look at your best performing content in terms of reach and engagement. Examine the kind of traffic it generates to your website and map the user journey to understand if your current activity is driving conversion.

2. Set Goals Around Metrics That Matter

Once you have a well-rounded understanding of where you currently stand in terms of social media marketing, you need to establish realistic and specific goals that serve a purpose and are set around metrics that matter. This will help you develop a manageable strategy that is results-driven.

Look at your overall business objectives and determine how your social media efforts can help you achieve them. Perhaps you want to increase brand visibility among the 18-25 demographic. For this, a realistic goal may be to increase Facebook interaction among this target market by 10% month on month.

When possible, you should also set attainable goals around direct conversions and set sales or lead acquisition targets. An example of this kind of goal might be: “Gain 20 sales from organic Facebook posting” or “Get 15 sign ups through Twitter traffic”.

However, for many companies, and small businesses, in particular, focusing on direct conversions is simply not realistic and social media marketing is a much longer game than Pay Per Click or email marketing.

This may instead be something to work towards as you first focus on your boosting your reach and engagement, as these are loyalty building metrics that help cultivate conversions in the long run.

3. Focus On ROI

As mentioned, social media is a long game and can be difficult to quantify in terms of actual money. But regardless of whether you're able to gain direct conversions or not, always keep some form of ROI at the forefront of your efforts.

Establish a monthly cost per channel in terms of labour hours or spend, if applicable (like Facebook advertising), then outline your results.

For example, in August, you may have spent 20 hours on Facebook and gained 10,000 visitors to your website via this channel. You will have to determine what this traffic is worth to you, to decide if you are gaining a return on your investment.

Putting an emphasis on ROI ensures that you are fully aware of how much work you are putting in and exactly what you're getting in return. This prevents you spending more time and money than you need to on each channel and means that everything you do has a purpose.

4. Use Tools And Measure Often

If you're not measuring, then you're not marketing, so be sure put time aside each week to review your social media platforms and note any changes, improvements or other results.

Each channel has its own analytics tools which provide valuable insight into your content performance and who your audience are. Some will even give you an idea of what time of the day/week is best to post.

Don't just take note of your results; analyse and restrategise accordingly. For example; if you notice that your reach is poor, your marketing message is not strong enough. If your engagement is low, your content may not be specifically targeted and if your conversions could be better, consider rethinking your call to actions.

Be sure to measure frequently. Social media is an instant medium and you can determine almost instantly what is generating results and what isn't. Don't wait to create a monthly or quarterly report before you change or adapt your strategy. Pay close attention on a regular basis; if something isn't working, stop doing it. It something is generating great results, find a way to build upon it.

Lana Richardson is a journalist and digital marketer, specialising in content and social media marketing. She is the current blog editor for NIParcels.com and IrishParcels.ie.

Progressing with Bad Credit Commercial Loans

When it pertains to obtaining a business line of credit history, start-ups don't have it easy. For a company aiming to rebound from tough times, the journey can go in any case, depending on the income it created prior. The good idea is there are choices for new company to expand or make an upgrade for better productivity. Bad credit company loans may stop an operation from closing permanently.





 

Startups tend to have a tougher time obtaining a loan due to the fact that they lack a solid company record on which to construct a credit history report. That leaves an individual credit report for financial institutions to examine. Anyone with a credit history lower than 500 could discover a lender but has to fulfill certain conditions, like showing evidence of remaining in complete procedure for an assigned amount of time. Speaking of Appropriate papers consist of months of unpaid invoices or evidence of a minimum earnings quantity. There are also a few of these firms that offer business loans to those with no security or without running a credit rating check. Some lenders could authorize the candidate and also pay within a few days of approval.



Individuals with a credit rating above 600, along with a solid business record, are approved a little a lot more leverage by banks. Nonetheless, the interest on a term loan supplied by an exclusive lender might be as high as 60%; as well as there are couple of places that bill greater than 100% interest. Again, annual income should go to least $25,000 in order to get approved for a lot of bad credit history company loans.

 

There are still some alternative financing alternatives for start-ups that have a solid earnings history. Link The Small company Management (SBA) is a federal government company that provides excellent interest rates to those with low-to-average credit rating, or haven't stayed in business for long. Unlike personal lenders, the procedure is slower however, for those that can pay for to wait, the money conserved will deserve the time.

 

Companies that just require a few thousand bucks could discover microlenders to be lax, compared to traditional financial institutions. Some not-for-profit companies offer loan and also give programs to start-ups that fall under a certain market. It readies to bear in mind that amounts are typically moderate. For instance, the SBA supplies microloans that average around $13,000.

 

Besides an individual loan, another alternative would certainly be to take out a house equity credit line. For some, this is a last resort but might be excellent for a business without collateral in need of instant development. Nevertheless, for an operation that's simply getting off the ground, it's incredibly dangerous.

 

Prior to applying for a business loan, it is best to want what exactly the money will certainly go in the direction of and exactly how it will certainly be paid back. Article The reduced the credit history, the higher the interest as well as other fees contributed to the loan repayment quantity. The business proprietor need to enter this sort of arrangement thoroughly before signing on the dotted line.

Options Past Bank Loan Services: Finance Your Enterprise Using Mezzanine Funding

Mezzanine funding is a seldom used type of viable financing that is utilized for mainly small companies. It is a legitimate ways to obtain an end for these small companies which end is to find an excellent source of capital in order for business to grow as it ought to appropriately. A business owner can use this source of financial plan in order to obtain the needed quantity of money needed to go on and perform the next phase for company growth that need to be made. Exactly what this next stage of company growth can be about is nearly anything. It can be an acquisition of some sort to an expansion of existing operations to beyond. Mezzanine funding can cover all of these things and then some. Due to the fact that, to be sincere, this type of funding is certainly every inch versatile and can be applied to lots of others that businesses do require most to grow and succeed for the future.

 

When mezzanine funding is utilized to fund things for a service, the very same service can then, raise additional funds by offering some stock in the business itself to the same lending institutions if they wish to do so overall. You can try here What mezzanine financial obligation is everything about is this. It is a sort of financial obligation that is typically not secured or is junior financial obligation in nature. What this unsecured or junior debt is very unlike standard loans in every method. It is likewise something that is subordinate to any traditional loans or senior financial obligation. Subordinated financial obligation can be called numerous things. Nevertheless, exactly what it does do is this, which is to make funding for a small company something that is very flexible as a funding solution.

 

Those who are mezzanine lending institutions are lenders who are more worried about their total yield. Because of this fact, they can be very liberal in one way, which is where they do choose to customize their investment in a specific way to meet the private needs of the debtor. It doesn't matter if the private needs are monetary, for operating, or if the capital is for the long term. The subordinated lending institution's prepared for yield is the one thing that should stand apart and be dealt with at all times. If it is dealt with sufficiently, and in the right manner, there is no reason why the loan provider won't be flexible when it concerns the amortization of the loan itself and its associated rates of interest. Mezzanine funding significant sources are no other than personal financiers, insurance provider, pension funds, banks, and mutual funds.

 

Some service specialists themselves have indicated mezzanine funding as being the an extremely interesting and intriguing type of financing choice for a variety of business that have handled to move past the start-up stage and do not yet have the available capital to fund any huge growth kind of moves on their own initiative. Mezzanine funding is the really thing to raise development capital for any company.