Business Credit Cards: What You Should Know on Their Possible Disadvantages

Business Credit Cards: What You Should Know on Their Possible Disadvantages

Having the assistance of a credit card as you are starting on a new business venture may not be absolutely

Business credit cards

necessary, but it can surely help you a lot. It does not only give you a source for funds, but it also adds organization to your cash flow and in tracking expenses. Aside from this, most business credit cards offer many perks that can be of great benefit to your business.

But as tempting as these company credit cards may sound, remember that the common error of a lot of business owners is that they do not consider the disadvantages that these credit cards may include. Many have made huge mistakes in running their finances with such business credits that have often led to personal-liability. This is why you need to know about the disadvantages and learn what you can do to either handle or prevent them from ruining your business.

What are the Drawbacks of Business Credit Cards?

What a lot of small business owners do not realize is that when they are only initially starting out in a business and have not yet established a business credit score, their professional and personal finances can be blended. This is because most credit cards require a personal liability agreement from the business owner at least for the first few years when a company is just starting out.

Therefore, the business owner can be held liable for any problems with the company’s credit account. For example, if your company fails to make payments on time then this could significantly dent your personal credit score despite the fact that this is not a personal transaction.

Other possible disadvantages that business credits may have included the large possibility for employees to abuse the use of company credits by charging personal purchases. Aside from this, fewer protections may come with it as compared to a personal credit card because the intended use of these credits are for company purposes and not personal. Higher interest rates are also usually charged by business credit cards as compared to personal credit cards.

What You Can Do To Control Mismanagement of Business Credits?

Despite the possible disadvantages that credit cards may bring, remember that these things can only happen if there is a mismanagement of your credit account. What you can do is set certain precautions so as to avoid such drawbacks from happening. Remember to register your company with a business credit bureau as they can help you establish a business credit score, which will later on help you forgo with the personal-liability agreement.

Also remember to manage your company’s financial transactions as well. Build a favorable credit history by making the right payments and avoid making huge debts that your business cannot afford. More importantly, when you’re only starting out, remember that it cannot be avoided for you to be personally liable for debts therefore learn to use credit wisely. It would also be helpful to take extra precautions by placing minimal credit limits for employees and reporting abuse of your company’s credit account.

Remember that business credit cards can help your company a lot, but they are not flawless and therefore one has to be smart in using them. Remember to take the extra precautions and always be careful with your finances.

Through this, when you avail a credit card for your company, you can make it work for you and allow it to become a partner in making your business grow instead of giving your liabilities.

The Best Business Credit Cards Are Here

Building Business Credit Scores

Building Business Credit Scores

To be able to avail of many financing offers by many lenders, having a good credit score is a must. If you have one handy, this will allow you to get a decent amount with reduced interest rates, with flexible payment terms.  But building your business credit score is no easy feat to accomplish.

Building Business Credit Scores

If you just have started earning your business credit when you set up your business venture, then it’s quite easy to get a good rating within 1 to 2 years of its operation.

This is not the case, however, when you have a bad credit rating. You either have to repair your business credit on your own, or hire a credit repair professional to get the job done. Only when you fixed your score can you start to build it up.

Building Business Credit Scores for LLc’s or Corporations

But before you can actually start building business credit scores, you need to have a credit identity first. This can be done by putting up your business as a corporation or an LLC. These two are perfect statuses to start your business credit. Since most financial lenders are eyeing clients in corporation or LLC, having your business as one will allow you to get a loan faster than any business enterprise.

You also need to set up a credit record with a credit agency, or Paydex. Credit agencies will keep track of your credit transactions, rate them and give them scores. This will be used to determine how good your credit rating is when a financial institution does a credit check.

Paydex scores by big companies like Dun and Bradstreet will keep records on how well your company is paying your credit bills. The score ranges from 0 to 100 – the higher the score, the bigger the possibility your loan will get approved.

Now that you have established your credit identity, you need to apply for a loan before you can actually start building your business credit scores.  First, you can choose either a secured loan, where the lender will ask you to pledge assets or properties as collateral that will serve as security for the loan. Note that this kind of loan will let you borrow a much larger amount (depending on your collateral), and a much reduced interest rate.

Another type of loan is the unsecured loan, which is perfect for those who don’t want to put their assets at risk by setting it up as collateral. Since the risk to the lender is higher compared to unsecured loans, the financial institution might be very strict with its application, coupled with a higher interest rate and payment schemes.

Building Business Credit Scores using different types of credit. Next is the type of credit you want to be used in your business venture. Below are the most common credits you can bring out in any lender in your area:

1. Business credit card – Click Here

Quite separate from a personal credit card, this type of credit is more lucrative to be used in business ventures due to its reduced APR, and flexible interest rates (depending on the amount used within the month).

2. Short/Long Term Loans

These kinds of loans allow you to borrow a fixed amount of money from the lender to be used in any way you wish. Attached with fixed interests with payment terms ranging from 5 to 10 years depending on the amount borrowed.

3. Lines of Credit (LOC)

Lines of credits are more for business who are into operation 2 years or more. Credit lines will let you have a fix amount of credit on the bank, which can be used to pay for unexpected expenses that crop up during the operation of your business. The interest expense will depend on the principal amount you have left, and will reduce as you pay your debt until it reaches zero.

Building Business Credit Scores is Easy using this Low Cost Manual by ISG

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The Reason why YOU should jump into A Business Line of Credit:
You owe it to yourself to give it a try!!!  Plus with a properly developed business loan or corporate credit line by building your business credit you will have no personal liability!

Advanced Business Tactics: Business Credit Manual: 2013 Corporate Credit Development

by Iron Dane Richards – 5″ x 8″ – 154 pages – ISBN-13: 978-1482360707
Inside secrets are shared from industry leaders in business coaching and banking for building business credit in an easy to read and understand format. Using these insider secrets allows you to expedite the development in the most cost effective and efficient process. Follow the methods for obtaining $125,000 in the shortest period of time! This is our lowest cost entry book with all the information to get your business credit started fast!
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8.5″ x 11″ 158 pages ISBN-13: 978-1492180289
Accelerated Business Tactics Series: Credit Engineering Vol 1 – 2014 *This is remastered and updated from our Best Seller Advanced Business Tactics 2012 for Business Credit Development from $0 to $1,000,000 that has sold over 100,000 Softcover and Digital Copies through our website and seminars. Plus we added over 300 new Lenders with Verified Extended Contact Information!  Learn the Insider Secrets from the industry leader in business credit coaching and banking: Iron Dane Richards.  This is a complete comprehensive credit building volume that is used in the ISG Accelerated Business Tactics Seminars! Order Now and Save! Click Here – Only $127 $97  Sale This Week-!

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Build Up Your Business Credit

Building Your Business Credit

It is very important to build up your business credit scores to be able to avail of financial loans to fund your small business. In truth, small enterprises are now clamoring about for loans to improve their business by using the money for improvements, or purchasing inventory to meet consumer demands.

Building up your business credit takes a lot time and effort, and requires a paper works by the dozen. Here are some tips on how to get started in giving your business credit rating a healthy boost:

Set a business identity first when Building Your Business Credit

The first step in improving your business credit is to get one in the first place. This can be done by registering your business as an LLC or a corporation. Next you need to provide all the necessary paper works required by lenders such as legal document like business permits and licenses, financial statements, references, contracts, and so on.

You need to keep in mind that when you register your business as an independent entity, you need to have a fixed address of your business, as well as open lines of communication. (Note that P.O. Box is not acceptable as a business address)

You might also need to register your business in a credit agency so they can keep tabs on your credit ratings and scores. These organizations will act as reference when you apply for a financial loan that requires a valid credit report.

Building up your credit status will depend on the financial stability of your business as based on the financial documents during its operation. Also, prompt payments are a major issue when it comes to raising your credit status. Fail to pay on the date agreed; you get a negative score on your credit score if that happens.

You might also need to keep monitor credit card reports when they are delivered to you. Try to check for transactions that you did, or did not, make. If you spot an error, report it immediately to the corresponding agency. This will result to a higher credit rating.

Building Your Business Credit to Get a Business Loan

Before you can actually improve your credit scores, you need to have a credit to work with. Many small businesses are now opting for business credit cards to improve their ratings. One reason for this is that these plastics have reduced interest rates and APR, which is quite useful for making prompt and affordable payments.

Also, since business credit cards have no principal amounts attached to them, you can easily control the interest expense you make every month. You can do some budget planning to minimize expenses and maximizing profit, without worrying about interests piling up.

Another way to improve your credit status is through credit lines. Many financial institutions, like banks, are now offering short-term lines of credits (LOC) for small businesses, with easy payment terms.

Since interest expense on LOC is dependent on the principal amount, you can easily reduce it by paying the original debt until you reach zero. With this term in mind, you can easily make prompt payments according to the agreement between you and the lender.

The gist to build up your business credit is to make prompt payments on your debts. Whether you have multiple loans or tons of credit cards at your disposal, you need to make sure that you pay each one on its designated date. If done right, you are well on your way to improve your credit scores, which in turn, will improve the financial future of your business.

Building Your Business Credit Made Easy – Using this low cost method – Click Here Now

Different Business Opportunities for Entrepreneurs – Mary Kay

Different Business Opportunities for Entrepreneurs- Mary Kay Cosmetics 


 MARY KAY Cosmetics!

This is a top choice for many women to make a great income with little to no investment compared to other start up businesses.  They have stayed current with the times in both products and marketing to audiences worldwide!  I, Iron Dane Richards, recommend Mary Kay as a first choice for a business consideration for most women! 

Now days with increasing technology changing lives, there are many changes faced in the business area too. There is a wide opening of business opportunities for entrepreneurs. You should decide yourself in which field you want to enter. Before entering it is necessary you should hold little expertise in that particular field.

Before you start any business, it is necessary to have little or more opportunity for starting the business. In dealing with any kind of business, you should put your personal effort on it, in order to run or get a successful business. It is also necessary your choice, matches the public choice and also with the latest trends. It is no use of opening the business which is not in demand and can bear great loss because of it.

Here are some of the hottest and latest veers of business opportunities opened for Entrepreneurs.

Business Coach – Communication Coach Business Opportunity for Entrepreneurs :  

When dealing in American businesses the movement of communication is involved. If there is no proper communication there are no business transactions which would exist. Many offices in America lack a skill of powerful and effective communications.

No matter the level of business you have, low or high profiles, the office members are demanding to communicate in oral, verbal or technological form. Due to lack of communication skill, many of them fail in these tasks. Although there are many classes accommodated in higher schools and college level so that the graduates do not face such kind of problems in their future. The demanding business chance for an entrepreneur is making the groups that would train the students or people in a highly effective way in the field of communication.

In this world full of advanced technology, the ideas information and transactions are acted through the Internet. Blogging is one the demanding and rising business opportunities for business. A blog written should be highly powerful no matter what sort of business you have.

Blogging Business Opportunity for Entrepreneurs

now days are considered as one of the marketing strategies, it is done in order to ponder your company in front of others. Those companies who have a part in this business should give good training to their employees in the matter of writing.

Security is needed to run technology based business, there are many competitors and you must secure your information. As an entrepreneur this field is demanding and you can be the one to complete its needs. There are construction related problems which an entrepreneur can get solution of like plumbing, electrical, carpentry and other contracting services.

With increasing online business there is demand of online secretaries. Many people are in search of secretaries who can provide them better business and take care of everything. As an entrepreneur this good job which can help you in gaining business. E bay is most demanded website which invites money and customers. There is a lot of mobile phone application detached on your phone these days. There is increasing demand for updated and upgraded phones.

Why Step Out Of Your Comfort Zone?

Why Step Out Of Your Comfort Zone?

As I pushed against the pedals of my bike during a recent bike (spin) class at the gym, I observed my own discomfort rise as the intensity of the class increased. Confronted with both physical and emotional discomfort, I became consciously aware that I had two primary choices in response to my pain. Each of these responses would impact differently on my outcome and results. So what result could I expect to achieve by stepping out of my comfort zone?

Placed under pressure, my physical body responded by ‘heating up’ – my breathing became shallower and faster, my legs began to ache, and beads of sweat erupted over my body, slowing dripping off my face in steady drops onto the floor below. As I reached for a towel to wipe my face and momentarily recover, I realized that I was now experiencing emotional discomfort as well.

As my physical discomfort intensified, so did my emotional discomfort. I experienced feelings of doubt as to whether I could continue with the level of intensity, and feelings of wanting to disconnect and/or quit from the physical discomfort I was experiencing.

In response to being pushed outside of my comfort zone, my two choices or responses to this situation became immediately apparent.

One choice was to ‘back off’ or slow down, and thereby reduce and/or minimize my discomfort. If I took this choice, I knew I could experience returning to a place of physical comfort, where my body ‘cooled’ down and relaxed, and also to a place where my emotions would return to a calmer state.

The other choice I faced was to notice and accept my discomfort, but to decide that I would continue regardless. In this decision I understood I could continue to experience discomfort (for a temporary period), and perhaps even face the possibility that the intensity of discomfort would increase.

To determine my choice, I asked the question: “What is my intent in taking this class? What are the results I’m looking to achieve?”

Is it to experience exercising comfortably – knowing that by not extending or pushing my limits, there was a good possibility that my level of fitness and physical shape would remain unchanged (or be very minimal)?
Is my intention to experience change and growth in terms of my physical fitness and shape, knowing that in order to achieve this I would likely need to push my current physical comfort boundaries?

Relative to my short and long-term goals for the class, (which in this instance was to increase my fitness), making the choice to ‘push’ through my discomfort and persist with that temporarily, was more likely to produce the result I was after.

I decided the ‘uncomfortable’ choice was more in alignment with my intention, so I chose this in preference to remaining ‘comfortable’ throughout the class.

In my opinion, there was no ‘right’ or ‘wrong’ answer faced with the above choices. Rather, simply an awareness of whether the choice made was in alignment with the end result I wished to experience.

So why would you want to step out of your own comfort zone?

When you’re next exercising – be it walking the dog, exercising at home or at the gym – why not ask yourself this question to provide you with the answer.

‘What is my intention by participating in this particular exercise?’ 
This question really works for anything!  
What is the intention and what is the purpose are key to successful planning.

If your own intention is purely for pleasure or recreation, then you may be quite willing to create the experience where your exercise is comfortable and painless.

If however you are looking to produce change at a physical or fitness level, consider the possibility that experiencing some discomfort may be necessary in order for you to achieve these results.

Choosing a state of ‘discomfort’ or ‘comfort’ is not a judgment exercise, simply a choice you make relative to creating an outcome more in alignment with your desired result.

All of this can be related to business and using a business coach if you think about it for a few minutes!

A good business coach will help you move out of your old comfort zone to create a new threshold in your path to success!

Welcome to Iron Solutions Group – Business Coach

40 Hours to Success
– Get Results With Business Coaching

Welcome to Iron Solutions Group, a professional leadership and development company unlike any other. Based on years of Iron Dane Richards’ internationally acclaimed experience in business operations, start ups and turnarounds, along with teachings on the power of the mind being the Creator of “40 hours to Success” and Certified Trainer of” Thinking Into Results” Programs, Iron Solutions Group teaches business leaders at all levels (along with leaders in the making) how to unleash the potential of their most important asset—their people. Google Iron Dane Richards 

business coach, business coaching

Iron Solutions Group specializes in Business Coaching designed for your company’s growth in business credit, corporate identity, corporate identity repair, owner mindset management, marketing and more!

Our Founder, Iron Dane Richards, wants Your Company to become more than just simply a good business, we want to give your company brand market affinity, streamline your internal operations and provide strategic plans and the right coaching to achieve your ultimate bottom line goals while working within your budget. “40 Hours To Success” Seminars and Coaching is ideal for new and existing business owners and upper level mangement to evaluate overall personal performance and mindset management.  

People who utilize business coaching or engage organization training for help know that it requires continuous information, training, and inspiration to make an excellent worker and company REALLY GREAT.  Our expert staff  in business coaching and organization will help every participant of a group, from basic workers to the biggest professional, to concentrate their initiatives in a way that best satisfies their individual needs by exploring new information to change their paradigms that are not working for them. This implies a better perspective, as well as a finish knowing of what it requires to fulfill their objectives and this translates into a better fit within your organization resulting in beneficial productivity or really resulting in a higher bottom line.
The best applicants for organization training are those workers and organizations that want to take things to the next stage. They are the ones that would like to become better management and listeners—and they are also looking to enhance their own roles, as well as those around them.

That includes:
Talented higher and center control experts who are looking to enhance their authority and interaction abilities. Even if you have been at the top for a while, organization training can help you create new techniques for encouraging those that perform with you.
Anyone who wants to understand what it requires to advertise themselves within their organization.
Employees who succeed officially, or know their business within and out, but absence the aspirations, information, or inspiration to perform office state policies. These are the workers who need help advertising or obtain approval for their concepts.

Iron Solutions Group Business Coaching – Business Coach

7 Reasons To Start Trading On The Forex Currency Market

7 Reasons To Start Trading On The Forex Currency Market

Consider the Currency Market if you have the time or money, there are lots of ways to earn additional income like from active involvement in the currency market, multi-level marketing, website development, property investment, residential construction security, etc.  Trading in Forex (foreign exchange) is also another way of making that extra income.currency, forex

In the Forex currency market, you have the flexibility of trading from any location (home, hotel, etc.) and at any time as long as you have a laptop and an internet connection for your portable computer.

There are no specific requirements or experience necessary in this particular online income generating trading business. Just by attending a Forex training course should be adequate enough for you commence trading in Forex. Why trade in Forex?

Great Reasons To Start Trading On The Forex Currency Market Now:

1. Forex trading offers monetary leverage. Meaning that you can trade with a low capital outlay to control a large currency position. You can trade a standard of $100,000 currency lot by investing with a small capital of only $1000. However, some Forex brokerage firms permit even less that that by giving you up to 200 times the leverage. That is, with only $100 capital outlay you can control a 200,000 unit currency position.

2. Online Forex trading has low transaction charges even though if you have a mini account or trade in small volumes.

3. Forex market transparency is an advantage since there are no hidden figures. You get what you see and thus there is no unexpected surprise. Therefore, it enables you to manage your risk and you can execute your order within seconds if you want to stop further losses in a particular trade.

4. You can trade by buying or selling in the Forex market in either direction, i.e. when it is going up or down.

5. Flexible time is one of the advantages in Forex trading. The Forex market never shuts as it is an incessant electronic currency exchange taking place globally. Since it is worldwide, involving in diversity of currencies of various nations that float their currencies in the world Forex market, it operates 24 hours daily, allowing you to enter or exit a trade whenever you like. In this regards, you can trade whenever you have the free time and as long as there is an internet available anywhere.

6. As you accumulate your personal experience you can earn you extra income by profiting from this sort of online trading in foreign currency. If you trade smartly with the use of technical analyzing tools, you can profit from a trade by predicting the outcome of a trade based on observing the changing trend of a currency which normally repeatedly shows up in predictable cycles.

7. There is unlimited earning potential when you participate in Forex trading for it has a daily trading volume in excess of 1.5 trillion. That makes it the largest financial market worldwide when compared with the equity and futures markets of 50 billion and 30 billion respectively.

If you have time or money, there are lots of ways to earn additional income like from active involvement in multi-level marketing, website development, property investment, residential construction security, etc. Trading in Forex (foreign exchange currency market) is also another way of making that extra income.

In the Forex currency market, you have the flexibility of trading from any location (home, hotel, etc.) and at any time as long as you have a laptop and an internet connection.


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Forex Trading What, When and How to Trade

Forex Trading What, When  and How to Trade

Trading in the worlds largest and the most liquid financial market is one of the best ways to earn money. Here, if you know how, when, and what to trade, you can be sure that you can earn huge amounts of profit. It is a fact that a lot of people who traded in this financial market became successful and became very rich almost overnight.

As a trader, you would want to grab the opportunity to earn lots of money and of course, start a trading career in Forex. The Forex market, as mentioned before, is the largest and the most liquid financial market in the world. Unlike the stock market and other financial market, Forex has no centralized location as it operates 24 hours a day at different locations around the world. Trades in this financial market are done through an electronic network.

In the past, because of the high financial requirements, Forex was only limited to large multinational corporations and financial institutions, such as banks. However, because of the advancement of the communications technology and also the existence of high speed internet, Forex in the late 90s is now available for everyone who is interested in trading in the Forex market.

Forex trading, for a beginner trader, is simply the buying and selling of different currencies of the world. This may seem simple enough for everyone, but you should also consider that a lot of inexperienced traders and some experienced traders have suffered huge financial losses in Forex.

Forex Trading What, When  and How to Trade you should always keep in mind that aside from the fact that Forex can give you a great money-making potential, Forex also has equal risks. Therefore, before you enter this market and trade, you should first consider a few things in order for you be successful in this money making venture.

First of all, you have to know how to trade currencies. In Forex trading, all you need is a personal computer with an active internet connection, a funded Forex account and a Forex trading system. There are numerous websites that offer Forex trading. In order to start trading, you have to open and fund an account first with your chosen website. After that, you can now start trading in the most liquid market in the world.

You need to have a fast internet connection in order to keep up with the updates and price movements and prevent slippages from happening. Another thing you have to consider is that as much as possible, you should register in a Forex website that offer dummy accounts so that you can practice your skills and strategies in Forex trading.

Now that you know how to trade in the Forex market, the next thing you need to know is what to trade. The Forex market involved different currencies from all over the world. It is also traded in forms of currency pairs. Here are the different currency pairs that you should consider trading in the Forex market:  forex trading, bitcoin mining


These are the most commonly traded currency pairs in the Forex market. It is up to you to determine which currency pair you want to trade depending on market conditions. If you do it right, you can be sure that you can earn a substantial amount of income.
The next and last thing you should consider is when you have to trade in the Forex market. Since the Forex market is open 24 hours a day, you can trade whenever you like. And, since it is the most liquid, you can get out whenever you like. It is just a matter of knowing if the market condition is profitable or if it is falling.

Forex Trading What, When  and How to Trade with Forex traders are mostly speculators who try to predict which currency is going to increase in value and which currency will decrease in value. Speculators use Forex charts to spot a trend and determine when a particular currency will increase or decrease in value.

Now that you know how to trade in the Forex market, you can now open a funded account and start trading currencies.

Always remember that in all trades done in the financial market, you should also expect to suffer from losses. You should be prepared to deal with it and accept it. This is why you need a substantial amount of money to trade in Forex.

Forex Trading What, When  and How to Trade

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Forex Trading: How to be Successful

Forex Trading: How to be Successful

Forex, bitcoins, digital currency Forex Trading become Successful with Business Coach Iron Dane Richards Knowing how to trade in Forex is simply just not enough to be successful. In this largest and the most liquid financial market in the world, you need to have more than the knowledge and skills to be successful. You need to know about the different things involved in Forex to earn huge amounts of money.

Simply knowing how to trade Forex and about the major currencies traded, like the US dollar, the Japanese Yen, and others are just the basics. Knowing when to trade and what to trade is equally essential to be successful in Forex.

Fore these you need to have a trading strategy. So, what exactly are the trading strategies involved in Forex? There are a number of money making strategies that you can use when trading in the Forex market.

If you use these strategies correctly, you will earn huge amounts of money in a very short time. Firstly, you have to realize that Forex trading is very different from stock trading. Therefore, strategies are also very different.

Forex Trading : The first strategy that you can use to earn a lot of money in the Forex market is the leverage Forex trading strategy. In leverage Forex trading strategy, it allows you, as an investor in the Forex market, to borrow money to increase your earning potential.

With this strategy, you can easily turn your money to 1:100 ratio. However, the risk involved can be great. This is why there are stop loss orders you can use to minimize the risk and also to minimize the loss. The leverage Forex trading strategy is one of the most commonly used strategy by Forex traders to maximize profits.

In the stop loss order strategy, the Forex trader creates a predetermined point in the trade where the investor will not trade. As mentioned before, you can use this strategy to minimize risk and minimize loss. However, this strategy can also backfire to you, as the Forex trader. This is because you may run the risk of stopping your trades when the value of the currency goes higher than expected.

It is up to you to decide if you will be using this strategy or not.

These are some of the strategies you can use when trading in the Forex market.

Forex trading is a 24 hour market where you can trade anytime and anywhere you are. If you think that the Forex market conditions are good at a specific time, then you can trade at that specific time.

Also, the Forex market is the most liquid market in the world. This means that you can enter or exit the market anytime you wish to. This is to minimize the risk and there is also no daily trading limit.

Here are other tips that you should remember in order to earn money in the Forex market and be good in doing so:

• The first and the last ticks are usually the most expensive. So, for most traders, the rule of thumb is getting in late and get out early.

• When you are losing, you want to minimize the risk of losing more money. So, don’t add money when you are losing.

• Select trades that move along with the trend. This can minimize the risk of losing money and maximize your chances of profits.

There are quite a few tools you can use when trading in the Forex market. One is the Forex charts. For the speculator, the chart is the most important tool that you can use to determine market trends and accurately predict the future value of the currency. Although it isn’t actually 100% accurate, you can use the Forex charts as a guide to what’s happening in the market.

Forex Trading  How to be Successful with Business Coach Iron Dane Richards:  You need to know how to read the different charts involved in the Forex market. There are daily charts, hourly charts, 15 minute charts and even 5 minute charts to get you closer to the action. You can compare each of the data in the chart to spot market trends and at the same time, spot potential money making trends.

This can also help you minimize the risk when trading in Forex. Learn how to read charts effectively and you will be well on your way to become successful in the Forex market.

These are some of  the FOREX strategies and tips that you should keep in mind in order to minimize the risks in Forex trading and maximize your earning potential. Depending on your skills and how you apply your strategies, you can really make a lot of money in the Forex market. However, to be a truly successful Forex trader, you need to accept the fact that you will sometimes lose money. Never get discouraged when you do. Analyze where you made your mistake, think of a solution to get back what you lost and continue trading.

Forex Trading How to become a Successful Trader with Business Coach Iron Dane Richards

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Spanx Sara Blakely Entrepreneur Billionaire

Spanx Sara Blakely Entrepreneur Billionaire on Reframing Your Thinking On Failure

“Failure to me became not trying versus not succeeding” – Sara Blakely of Spanx

Failure is not trying – “my father was very determined to encourage me to fail.  At the dinner table, he would ask me and my brother what we failed at that week.  If you didn’t have a story, he was disappointed.  He reframed my thinking on failure.   He would give me high fives after I told him how I tried something and was awful at it.”*

What you don’t know can be your greatest asset – “I had no idea what I was doing in most cases it worked in my favor.  I have been asked, ‘how in the world did you get your product in Neiman’s’.  I’d say, I called them’.  The response is ‘we go to trade shows, have booth and have been trying to get in Neiman’s for years’”.  “If you don’t know what you are doing, … you are going to end up doing it differently, … and that what makes great companies and great products.”*

“What you don’t knosara blakely, spanks, business womenw can be your greatest asset” – Sara Blakely of Spanx

After graduating from college with a communication degree, Susan’s plan was to attend law school.  However, a struggle with the LSAT forced her to do something completely different and in a unique direction in that she wanted to work at Disney World.   Three months into her tenure she quit completely frustrated because she couldn’t be Goofy! Goofy has a requirement to be 5’ 8’’ and Susan is only 5’6″!    Susan then started down another path into office equipment, which was selling fax machines door to door.  She stated, “I didn’t like fax machines and I didn’t understand them half the time.”*

Sara had a problem, she struggled to find what to wear under white pants like many other women did.  It was her problem and she could not find any solution available in the marketplace at that time.  So, she saw a solution and decided to cut off the bottoms of a pair body shaping panty hose. It worked, however it kept rolling up her legs in a short period of time.  She believed a soft knitted comfortable band could keep the product placed under the knee and prevent this rolling up effect.

Sara had never taken a business or a fashion class nor had she ever worked in the fashion industry and after 7 years selling fax machines, she decided to spend her entire $5,000 of savings to make a production run and begin marketing her product.

She went online to to discover there had yet to be a footless, body shaping panty hose patent filed to that date.  She went to Thomas Register to find all of the U.S. manufacturers of panty hose.  She spent two years cold calling them to find someone to make them and finally she took a week off work and started calling on the mills in person just like when selling fax machines.  Three weeks passed before a mill owner had looked at her product seriously and called her back.  It turned that the mill owner’s three daughters had the same problem as as Sara and that her product was a solution to be tested.

Once the new products were produced, Sara called the Neiman Marcus around the corner to say “Hi I’m Sara, I invented a product. When can I come and show it to you?”*  She was able to secure a meeting with a buyer. She next took the proverbial bull by the horns and convinced the buyer into the bathroom to show her.  The buyer understood the problem, the need and ordered the solution from Sara.  Within weeks the product was on the shelves at Neiman Marcus.

To successfully achieve a dream or big idea, you must effectively plan and manage a  strategy.  Next comes the marketing and operations cost and with only $5,000 in savings she had to be effective and efficient.  Using her ability to do both is why she owns 100% of the company that generates $500M per year in sales.

Her strategy was based upon:

Market Validation  – Sara validated  a marketable need with the correct people: herself, the three daughters of the mill owner and most importantly the Neiman Marcus buyer.  She utilized their feedback from trying the prototype in order to make any refinements for a marketable product.

Marketing 101  – Sara has disclosed in interviews she had researched the power of the “k” sound in the “coke” and “Kodak” brands.  She came up with Spanks initially and later to Spanx.  After packaging the product in red with interesting cartoon caricature images of women.   Her product had to stand out with no marketing budget.

Production Research   – Sara researched and called panty hose manufacturers for two years. She was able to get a mill owner to make a prototype. She developed the packaging on her friend’s computer.

Operation Protection  – She bought a book at Barnes and Noble on how to file patents. She did most of the patent filing herself (only $700).  Sara used $150 from her credit card on to trademark Spanx.  She secured space on Neiman Marcus and Saks Fifth Avenue shelves. She had the product produced and delivered to the retailers.

Personal Investment  – She invested her time and her only funds to get started using the $5,000 she saved and avoided debt.

When asked for her keys for success, Sara mentions her father, her upbringing and naivety.  Naivety and fear of “not trying” are likely behind most breakthrough innovation and Sara cited both as her keys to success.  Her philosophy and her execution of the basics in getting to market provides us insight into how you can make almost anything happen if you put your mind to it – The Law of Attraction only works through effort!

* Quotes from Sara Blakely’s Spanx  interview on CNN’s “Fareed Zakaria GPS, August 25, 2013

Entrepreneur Billionaire Sara Blakely of Spankx