Post about "Personal Finance"

Accounts Receivable Financing – Help

Success is not an overnight occurrence for most businesses. Years of hard work and struggle are a common denominator for most enterprises. Success as a concept can be complicated because it may involve more than profits on a balance sheet. The MSN Encarta dictionary defines success as:1. Achievement of intention: the achievement of something planned or attempted;2. Attainment of fame, wealth, or power: impressive achievement, especially the attainment of fame, wealth, or power;3. Something that turns out well: something that turns out as planned or intended;4. Somebody successful: somebody who is wealthy.What is business failure? It may be that most businesses don’t die or fail; the owners close them for reasons unrelated to whether the business is making money. According to David Birch, former head of a research firm specializing in studying small business data, would-be entrepreneurs don’t realize what’s truly involved with running a business. He estimated survival rates:o First year: 85%o Second: 70%o Third: 62%o Fourth: 55%o Fifth: 50%o Sixth: 47%o Seventh: 44%o Eighth: 41%o Ninth: 38%o Tenth: 35%”Once you’ve hit five years, your odds of survival go way up,” Birch said. “Only two to three percent of businesses older than five shut down each year.” Hard statistics on business success vs. failure rates are hard to establish. Mark Twain once said, “The news of my death has been greatly exaggerated.” The same may be true for many businesses.Accounts receivable financing can help to make the difference between success and failure for many B2B businesses that need capital to grow. The terminology: invoice financing, invoice funding, factoring, factoring receivables and accounts receivable financing are all terms that mean essentially the same thing: the process of selling your invoices, your accounts receivable, to a commercial finance company to accelerate cash flow. You sell the account receivable. The commercial finance company advances you 70% to 90% of face value. Your customer pays the invoice to the commercial finance company. They rebate to you the difference between their fees and the remaining cash. If your business sells products or services to other businesses or to the government, with a gross margin of 25% or more you can grow profitably with accounts receivable financing; and you can give terms to your customers.Asset based financing is a form of accounts receivable financing for larger transactions. The main difference between asset based financing and accounts receivable financing is price: larger transactions may be priced with a spread of 2% to 4% over the prime rate plus an administrative fee compared to factoring fees of 1.5% to 4% per month. The actual amount of charges depends on the contract terms which vary widely. In this author’s article, Financial Myths vs. Financial Facts there is an extensive discussion regarding various pricing methods and outcomes.Imagine if your business were like a flower with the chance to bloom the first time in years. There is a plant known as Agave parryi, also known as the Century Plant. They often take forty to sixty years to flower. Then they die. Few businesses can wait that long to flower.The asset based lending industry is a multi-billion dollar business. Companies large, small, and startups participate in accounts receivable financing and asset based lending. Purchase order financing is available to pay for the cost of goods when purchase orders are too large for the business to self-fund the product. If you need help with capital to grow, these are important financing techniques to consider for your business’ success.In August 1965 The Beatles released a Studio Album called: Help! The song was a number one hit single. The song was written by John Lennon and Paul McCartney. At this point in the career of the Beatles, they had not personally made much money and they may have been on the brink of failure because of artistic differences and financial naivety. John Lennon said that the lyrics to Help! were a cry for help and a clue to the confusion and despondency he felt. He also regretted the commercial pressures to make a successful upbeat record that compromised his artistic sensibilities. The Beatles succeeded in writing many of the most popular songs in music history; they were one of the most successful recording artists of all time. Nevertheless, the Beatles failed to stay together as a live performing group after 1970. There were only ten years of live performances. Decades of royalties and riches followed.Here are the lyrics to The Beatles – Help! by John Lennon and Paul McCartney:Help, I need somebody,Help, not just anybody,Help, you know I need someone, help.When I was younger, so much younger than today,I never needed anybody’s help in any way.But now these days are gone, I’m not so self assured,Now I find I’ve changed my mind and opened up the doors.Help me if you can, I’m feeling downAnd I do appreciate you being round.Help me, get my feet back on the ground,Won’t you please, please help me?And now my life has changed in oh so many ways,My independence seems to vanish in the haze.But every now and then I feel so insecure,I know that I just need you like I’ve never done before.Help me if you can, I’m feeling downAnd I do appreciate you being round.Help me, get my feet back on the ground,Won’t you please, please help me.When I was younger, so much younger than today,I never needed anybody’s help in any way.But now these days are gone, I’m not so self assured,Now I find I’ve changed my mind and opened up the doors.Help me if you can, I’m feeling downAnd I do appreciate you being round.Help me, get my feet back on the ground,Won’t you please, please help me, help me, help me, oh.The bottom line: if you need help with your cash flow for your B2B business, accounts receivable financing may be the answer for your success.Copyright © 2007 Gregg Financial Services

Brainstorming The Ideas for Influencing Your Mobile App Audience

Once the app is downloaded, you have little time to take a sigh of relief, and then again start focusing on making things easier for the them till their goal is achieved.

According to the AppsFlyer, an app marketing company, the global uninstall rate for apps after 30 days is 28%. Entertainment apps are most frequently deleted, whereas apps based on Finance is least frequently deleted. No matter which app category you belong to, your strategy should be to remain in the mobile phones of users for a long time, and not just sit around but to fulfill your purpose as well.

If we analyze the encounters of users with an app step by step, it can help us unveil the critical factors that influence mobile app audiences, so that we can work upon those and achieve our purpose. Here are the details:

Step1. Finding Your App in Appstore

For this, we have to first find out what exactly users type to search an app. Based on a research, it has been found that 47% app users on iOS confirmed that they found the app through the App Store’s search engine and 53% app users on Android confirmed the same.

What have been their search queries? Interestingly, as the per the data provided by the TUNE research, 86% of the top 100 keywords were brands.With little scope for non-branded categories, most of the keywords were either of games of utility apps. Common keywords in the non branded category are: games, free games, VPN, calculator, music, photo editor, and weather.

Leaving brands aside, if we analyze the user-type of a Non-branded category, we will get two types of users:

1. Users are informed, and they know what they are search

2. Users are exploring possibilities, have no precise information in mind.

If you are a mobile app development company, targeting non-branded users, then your efforts must be directed to creating apps that compel these two types of users. To do so, we have to analyze once they are on an app store, what keywords they use to search. Regina Leuwer, with expertise in marketing & communications, bring some light to the subject. She reached out Sebastian Knopp, creator of app store search intelligence tool appkeywords, who shared with her the data of unique trending search phrases. And according to that data, in 2017, there were around 2,455 unique search phrases trending in the US.

Now, if we study these data to get information, we will find that name of the app is critical to attract the attention of the users.

If your app belongs to non-branded category, then make sure your app name is similar to the common search queries but also unique in comparison with your competitors. So that when your app name is flashed, they click it on to it, finding it purposeful and compelling both.

Step 2. Installation

Remember your users are on mobile devices has limited resources, from battery to storage and RAM to Internet. Everything is limited. So better create an application that is easy to download or say get downloaded with 5 minutes. One critical advice here:

1. Keep the application file size small.

If you are a developer, use APK Analyser to find out which part of the application is consuming maximum space. You can also reduce classes.dex file and res folder that contains images, raw files, and XML.

Step 3. Onboarding

After the user has successfully downloaded your mobile application, don’t leave anything on assumptions. Guide them properly. This you can do through an onboarding process, where users can learn the key functionality and where to begin with the mobile app. Below are the 3 things you need to keep in your mind when creating an onboarding process for your users.

Short and Crisp: The entire guidance of features and functions should be completed within few seconds, with easy options loud and clear option to skip.

Precise Information: Don’t introduce them to the app. They already know what they have downloaded. The objective to inform about the key functions and features.

Allow Users to Skip: Let the tech-savvy users skip the intro. Your app is to meet their requirement and not to have a friendly session.

Step 4. Purpose and UI
Here, the stage is set for your app and it is the golden chance for you to impress your users. What is needed here is the collaboration between purpose and UI of the app. It totally depends on the problem-solving capability and ease of use of the mobile app. Interface design plays the critical role, allowing the users to access features of the apps easily and quickly to perform the task for what they have downloaded the app. When it comes to interface design, make sure that the design is interactive and task-oriented. Here are some factors that you must take care off while creating mobile app interface:

1. Usability: The Mobile phone is an epitome of convenience and if your users find it difficult to use your app, then there is no way there are going to make the space for it in their mobile phones. From screen size to the color of the app, there are many factors that are equally critical and need attention.

2. Intuitive: To create an intuitive User Interface, you have to read the mind of the users, and develop a model based on that. The next should be precise, clear and ‘obvious’ in an interface.

3. Availability: Key features should be hidden in the drop down menu or even if so, it should be obvious for the user to look into the drop-down. An intricate work of design and research is required to make essential features available for the customers and they don’t need to navigate here and there.

If you need more help with the user-interface and innovative ideas for a mobile app, write to me [email protected] and I promise to get back to you with interesting mobile app designs.