Setting Up A Service Based Business For BeginnersAlthough there are exceptions where both entities are entwined into one, most basics of the business is built around one unifying category so that the intentions and goals are clearly and visibly set.This distinction allows the individual to then decide of the accompanying tools that should be chosen for the purpose of enhancing the business experience and also to contribute positively to the ease of running the business entity.Most service based forays are labor intensive which the business entity revolves around. This is either packaged as the selling of expertise in a particular field or the selling of the actual “engines” that produce the desired outcome that bring in the revenue.Either way the quality, efficiency, attention and detail that is exercised within the business are the eventual elements that are going to make or break the business foray into the revenue churning mechanism.Basically offering the time frame required to create a particular service or to provide the content of the project itself is how the cost factor is calculated and the profits are gained in the service based business.Therefore, the individual would have to factor in the cost of business entity by the labor intensive tool it provides, in order to provide a suitable base line for the eventual calculation of the profits and the pricing suitable to be demanded.Alternatively the value of the service based business can be calculated on the value of the service being provided in a consultancy capacity which is evaluated against the insights the said service will bring to the company with the intention of creating a system thereby the said company is able to save or be more cost effective.Being able to identify a suitable and good service based company is very important if the new business or existing business owner intends to hire its services to help enhance the site’s potential.Identifying the characteristics of a particular service based company and matching them to the needs of the site in question will allow the business owner is make an informed decision of the merits of the chosen service.Do Your Research First-Customer perception of a company is very important to the progress and eventual success of any business endeavor, therefore it is very important to be able to identify the appropriate service based one to best suit the individual’s needs.Being able to provide good service should always be the prime concern of any business entity especially if its revenue earning power depends on this one factor.Market research is often the best way to identify the companies that have good track records and are capable of delivering what they promise.This information can easily be sourced over the internet as these companies will be active in presenting their achievements for all interested parties to view.It is also an excellent platform for potential clients and competitors alike to note the merits of the presenting service based company.Being well-placed on the search engine rankings will allow the service based company to be more visible and thus make it easier to garner the intended customer base to ensure its consistent success.The features of a good service based company would have to include the value added by the business entity from the input stage to the output stage where the results are then measured by its success rates.These input stages are often regarded as the commodity phase and the processes that it is designed around have to ensure the successful output stage which is where the end desired results are more than adequately met.Making a sale or pushing a business proposition is never an easy task to accomplish for some, therefore having the relevant assisting tools at hand should provide the individual with some encouragement to see the process to success.Marketing Skills-The following are some tools that can prove to be of great assistance to any individual intending to beef up their marketing skills:Making use of as many online tools as possible to promote the business or product intended is one way to start the enhancement of the marketing skills venture.Using blogs to create the interest and visibility for the item is something that should be considered as this is one way to get the attention of the target audience without much cost incurred.Working together with others is another way to beef up an individual’s marketing skills. Being part of a team effort where the individual’s talents and contributions are noticed and acknowledged is definitely an encouraging factor and helps the individual to be more adventurous and keen on honing his or her skills further.Availing one’s self to be listed on freelance job sites is also another way of beefing up the marketing skill of an individual. The fact that the visibility factor the site can bring to the individual will help the person focus more on ensuring the eventual connections made are optimized and locked in at the earliest opportunity.Social websites are also a good platform to introduce one’s marketing skills to the masses.Because of the competitiveness of all the participants in this particular platform the individual will subconsciously be forced to step out and ensure his or her participation leaves a positive impact on the interactions.Showcasing all the positive skill of the marketing process will eventually earn the respect and attention of others looking for such services.Create Your Website-Creating a website can be a challenging feat for those not very internet savvy, however it is not altogether a task that is formidable in nature. With a little startup knowledge and tips anyone can successfully attempt to put together their own website.The following are some guidelines that will help ease the process:Registering the suitable domain name is the first step to take when designing a website.The choice of this domain name should ideally take into consideration the relevance the name has to the intended site, an easy to remember reference, one that is short yet descriptive and whether it has the right extensions tagged to it such as.net,.com,.org.The next step would be to set up a web host account and this would entail the picking one that can provide the services the individual would need for the website.Although cost is always a factor for every business endeavor, it would be advisable to avoid using the cheaper and inexperienced ones available as this might end up costing the individual in the future.The follow up step would be to point the domain to the web host in place.This is a fairly simple exercise, however if the individual faces any potential problems along the way there are always assisting platforms to tap into to get the relevant help or explanations.Getting a word press linked to the site is another important step to incorporate into the setup. This word press is a free platform that is used by bloggers and allows the individual to build the website with the minimum of effort while making it user-friendly always.Last but by no means the least, would be for the individual to organize the website.This process would involve the backtracking exercise to ensure there are no defaults that would cause the viewer to be put off when visiting the site.Learning to build websites isn’t the complex technical process a lot of people think it is. All you really need to do is come to our website and get access to 300+ Tutorials that show you step by step how to build a website, and so much more, and start playing around with building your own websites.Advertising Ideas-In order to stay competitive it is necessary to always be able to have fresh views and ideas to present to potential customers and target audiences. Without such innovations the website will become stagnant and outdated thus eventually causing the original high volume of traffic flow to thin out. Brainstorming is one way of gathering and creating new ideas that would benefit any endeavor.Some of the ways that can be adopted to bring forth interesting and innovative ideas at the brainstorming sessions are facilitated by encouraging the participants to simulate the mindset of the customer or the intended target audience.By doing this the participant are more likely to anticipate the needs and wants of the customers and target audience and design any changes to fit into this discovery.Bringing people together to discuss ideas at the same time and in the same place is also another good advantage the brainstorming sessions can facilitate.Advertising ideas and campaigns can be discussed in “real time” as opposed to having emails flying about which is less effective and time-consuming and even confusing at times.Brainstorming for advertising purposes, should ideally take into account the following points:Problem definition and identification should be done at the very onset of the exercise. With this clearly outlined, other factors can then be worked on in line with the initial problem discovery information.Custom designing can also be worked on within the brainstorming session, as the collaboration of views can contribute to finding the one idea that is going to eventually used to build the campaign around.Customer Service-Making a sale is only the first step is the relationship building exercise, which will eventually contribute to either the success or failure of any business endeavor. Therefore, it is important to pay attention to the customer service offered to cement the success rate desired.The following are some tips as to how to stay on top of the customer service exercise:Taking the customer for granted is the first and most common mistake most businesses make. This is especially evident when the business has expanded to now successful and comfortable levels. Often forgotten is the customers that brought the business to such heights in the first place.Therefore, it is very important to keep in touch with the customers so that vital information can be obtained about the current needs and wants of the customer.In the quest to stay informed and provide optimum customer service another point to consider and exercise is the importance of being fresh and innovative with ideas that are going to keep the customer coming back for more.When boredom sets in the customer will usually simply look elsewhere for the next new exciting thing that attracts their attention.Therefore, in order to induce customer loyalty innovative ideas should be a constant feature within the business.Happy Customers Are Loyal Customers-Training staff to treat each customer with respect and individuality is well worth the effort. Sometimes this positive treatment is the defining factor that keeps the customer coming back, even if the products are not exactly the best in the market.Having the protocols in place for quick and efficient responses to a customer’s queries or grievances, is one way of ensuring the individual stays a loyal customer and does not spread negativity about the business or product. Happy customers are loyal customers.In most cases it is rather difficult to specifically categorize businesses into specific service based styles. This is mainly because a lot of businesses tend to incorporate different platforms and strategies into the actual blueprint of the business format.However, there are some that can be clearly defined as service based business companies and the following are some of these examples:Types Of Service Based Business-Such service companies may include the likes of services provided by doctors, accounts, architects, actuaries, lawyers and other related fields.On a more creative side one may include the likes of services provided for by fabric designers, fashion designers, color scheme artists and many more as the list of such endeavors can be quite overwhelming.Most service type companies rarely have appreciable inventory as the purchases for usually made with the objective of facilitating a job thus the need to carry any inventory would not be necessary.Merchandising companies can also be considered service style enterprises as they to provide a service of sort to the customer base.However, this service is based solely on providing tangible elements rather than just the action of extending physical service. The generation of revenue is from the actual sale of the inventory rather than from the service extended.Manufacturing companies also come under the category of providing a service to the industry and the customer needs. In this scenario the products or items are made and sold within the company’s business entity thus ensuring monetary gains are derived both from the product and the service offered by manufacturing the product.All these different types of basic service providing entities are all in place with one goal in mind and that is to create the platform for revenue earning potential. Therefore, in order to understand and identify which would be best suited for the individual business owner, more research should be done to find the style that best suits the individual’s needs.OK, so I hope this article gives those looking to start their own online service based business a better understanding on what it takes to set up and grow a successful online serviced based business.To your great success on your online business journey, Bob
Alternative Financing Vs. Venture Capital: Which Option Is Best for Boosting Working Capital?
There are several potential financing options available to cash-strapped businesses that need a healthy dose of working capital. A bank loan or line of credit is often the first option that owners think of – and for businesses that qualify, this may be the best option.
In today’s uncertain business, economic and regulatory environment, qualifying for a bank loan can be difficult – especially for start-up companies and those that have experienced any type of financial difficulty. Sometimes, owners of businesses that don’t qualify for a bank loan decide that seeking venture capital or bringing on equity investors are other viable options.
But are they really? While there are some potential benefits to bringing venture capital and so-called “angel” investors into your business, there are drawbacks as well. Unfortunately, owners sometimes don’t think about these drawbacks until the ink has dried on a contract with a venture capitalist or angel investor – and it’s too late to back out of the deal.
Different Types of Financing
One problem with bringing in equity investors to help provide a working capital boost is that working capital and equity are really two different types of financing.
Working capital – or the money that is used to pay business expenses incurred during the time lag until cash from sales (or accounts receivable) is collected – is short-term in nature, so it should be financed via a short-term financing tool. Equity, however, should generally be used to finance rapid growth, business expansion, acquisitions or the purchase of long-term assets, which are defined as assets that are repaid over more than one 12-month business cycle.
But the biggest drawback to bringing equity investors into your business is a potential loss of control. When you sell equity (or shares) in your business to venture capitalists or angels, you are giving up a percentage of ownership in your business, and you may be doing so at an inopportune time. With this dilution of ownership most often comes a loss of control over some or all of the most important business decisions that must be made.
Sometimes, owners are enticed to sell equity by the fact that there is little (if any) out-of-pocket expense. Unlike debt financing, you don’t usually pay interest with equity financing. The equity investor gains its return via the ownership stake gained in your business. But the long-term “cost” of selling equity is always much higher than the short-term cost of debt, in terms of both actual cash cost as well as soft costs like the loss of control and stewardship of your company and the potential future value of the ownership shares that are sold.
Alternative Financing Solutions
But what if your business needs working capital and you don’t qualify for a bank loan or line of credit? Alternative financing solutions are often appropriate for injecting working capital into businesses in this situation. Three of the most common types of alternative financing used by such businesses are:
1. Full-Service Factoring – Businesses sell outstanding accounts receivable on an ongoing basis to a commercial finance (or factoring) company at a discount. The factoring company then manages the receivable until it is paid. Factoring is a well-established and accepted method of temporary alternative finance that is especially well-suited for rapidly growing companies and those with customer concentrations.
2. Accounts Receivable (A/R) Financing – A/R financing is an ideal solution for companies that are not yet bankable but have a stable financial condition and a more diverse customer base. Here, the business provides details on all accounts receivable and pledges those assets as collateral. The proceeds of those receivables are sent to a lockbox while the finance company calculates a borrowing base to determine the amount the company can borrow. When the borrower needs money, it makes an advance request and the finance company advances money using a percentage of the accounts receivable.
3. Asset-Based Lending (ABL) – This is a credit facility secured by all of a company’s assets, which may include A/R, equipment and inventory. Unlike with factoring, the business continues to manage and collect its own receivables and submits collateral reports on an ongoing basis to the finance company, which will review and periodically audit the reports.
In addition to providing working capital and enabling owners to maintain business control, alternative financing may provide other benefits as well:
It’s easy to determine the exact cost of financing and obtain an increase.
Professional collateral management can be included depending on the facility type and the lender.
Real-time, online interactive reporting is often available.
It may provide the business with access to more capital.
It’s flexible – financing ebbs and flows with the business’ needs.
It’s important to note that there are some circumstances in which equity is a viable and attractive financing solution. This is especially true in cases of business expansion and acquisition and new product launches – these are capital needs that are not generally well suited to debt financing. However, equity is not usually the appropriate financing solution to solve a working capital problem or help plug a cash-flow gap.
A Precious Commodity
Remember that business equity is a precious commodity that should only be considered under the right circumstances and at the right time. When equity financing is sought, ideally this should be done at a time when the company has good growth prospects and a significant cash need for this growth. Ideally, majority ownership (and thus, absolute control) should remain with the company founder(s).
Alternative financing solutions like factoring, A/R financing and ABL can provide the working capital boost many cash-strapped businesses that don’t qualify for bank financing need – without diluting ownership and possibly giving up business control at an inopportune time for the owner. If and when these companies become bankable later, it’s often an easy transition to a traditional bank line of credit. Your banker may be able to refer you to a commercial finance company that can offer the right type of alternative financing solution for your particular situation.
Taking the time to understand all the different financing options available to your business, and the pros and cons of each, is the best way to make sure you choose the best option for your business. The use of alternative financing can help your company grow without diluting your ownership. After all, it’s your business – shouldn’t you keep as much of it as possible?
The Heart of Texas, The Alamo
While living in a place sprinkled with history may sound exciting and appealing to many people, actually appreciating the historical site that might be located across the street from where you live might require an extra second of consideration. The importance of historical events, historical constructions, or historical places might dwindle if you see them every day, but taking a spare moment to acknowledge them will make you feel a sense of wonder, humility, and appreciation. That is what the residents of San Antonio, Texas, experience every day as they walk past the most important historical site of Texas, also known as the heart of Texas, the Alamo.
Like many other historical cities, the city of San Antonio, Texas, began from one structure. One structure that had a mission and managed to attract people to the region. While in the old world in Europe, you might encounter fortresses that stood the test of centuries passing by, in Texas, there is the Alamo. Built May 1, 1718 by Father Antonio de Olivares, the Payaya, and the Pastia Indians, the Mission San Antonio de Valero, known today as the Alamo, is a historic Spanish mission and fortress compound meant to bring education and Christianity to the local American Indians.
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By 1793, Mision San Antonio de Valero was secularized, meaning that its purpose was cast aside, and the dissociation from religion took place. However, the structure remained. Decades went by, and history reshaped it, but the Alamo maintains its appeal for visitors from all over the country. From its stone front to the stories they whisper, this Shrine of Texas Liberty can share its story one more time. If you’re interested in living in the shadows of Texan history, go ahead and contact the local real estate agents in San Antonio TX. You might even discover some new things about the city from them.
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The Mission
At the start of the 18th century, the Spanish settlers and their government established several Roman Catholic missions in the Eastern side of Texas. As the distance between the missions was too large, the need for a waystation to simplify supply access resulted in the new mission, San Antonio de Valero, being built in 1718 near the San Antonio River. The leader of this mission was Father Antonio de San Buenaventura y Olivares, and it started with three to five converted American Indians from Mission San Francisco Solano. Close by, the governor of Spanish Texas founded San Antonio de Bexar, the first civilian community in Texas, the present-day city of San Antonio.
As the first settlement was considered a risk area for flooding, they moved the mission on the river’s west bank within a year. It expanded to 3 acres, and the permanent buildings were erected. The number of mission Indians grew to 300 by 1744, and the mission was self-sufficient with 2,000 head of cattle and 1,300 sheep. The farmland surrounding the mission was covered in crops of corn, beans, and cotton. Aside from the church that was never completed, around 30 adobe buildings were constructed for storerooms, workrooms, and residential quarters for the Indian residents.
The mission walls could withstand raids from Apache and Comanche attackers, and in 1745 around 100 mission Indians drove off 300 Apache raiders, saving the mission and the town from destruction. As a precaution and response to attacks on other missions, walls were built to enclose the convent, church, Indian homes, and cannons placed near the main gate. Because of their increased liability, the missions were stripped of their influence, Apache tribes stole the horses, and the Alamo lost its ability to support a large number of converts. With only 12 mission Indians left, by 1793, the mission was secularized.
The Battle
A nickname like the Alamo might make one wonder about its origins. Nowadays, the Alamo stands for the structure that began the foundation of the city of San Antonio, the original name is still used but it is less known. Still, the name actually started during the 19th century from either the Spanish word for cottonwood trees or from the “Alamo Company” of San Carlos de Parras. The source isn’t clear.
The Alamo saw the first conflicts during the Mexican War of Independence as Mexico fought to secure its independence from Spain. The regional struggles transformed parts of the mission in the political prison and hospital between 1806 and 1812. From 1821 to 1835, the Alamo was under Mexican control until the Texan Revolution came. According to historians, there was a siege at the San Antonio de Bexar that lasted nearly two months after which the garrison was surrendered by the Mexicans to the Texian forces. The victory was deceiving. While General Cos assumed command of 100 Texian and Tejano soldiers, he requested 200 more men from the Texian government, fearing the garrison might not withstand an attack. While the government denied the request and sent only 60 more men, fortification began, and cannons were installed to help defend the Alamo.
Mexican attack started with 1,500 men and the siege lasted for 13 days. The Texian army had limited chances of victory against such numbers. William Travis, co-commander of the Alamo, wrote a letter “To the People of Texas & All Americans around the World”, pleading for reinforcements under the patriotic vow “victory or death”. The result was that 300 men started the Alamo journey, but only 100 reached their destination. The Mexican reinforcements increased their numbers by 1,000. The courage to stand their ground and not cower in the face of such power, even if they knew that death awaited them, lives on to this day in the spirit of San Antonio. Almost all Texian defenders of the Alamo died in battle, and a third of the Mexican forces were killed.
While the Mexican President-General Antonio Lopez de Santa Anna saw this victory as a tool to strike fear into the hearts of the Texian soldiers and assumed that it would end their resistance, the opposite happened. The Mexican army was defeated at San Jacinto Battle, and Santa Anna was captured, resulting in the retreat of the Mexican army and the end of the Texas Revolution. This year, the Fiesta San Antonio, the city’s biggest festival that commemorates the Battle of the Alamo was postponed due to COVID on June 17-27, having usually been planned during April.
The Legacy
After the Battle of the Alamo, views of Santa Anna alternated between the national hero who conquered the Alamo and the pariah. With his defeat and capture at the Battle of San Jacinto, disgrace followed his memory, with many Mexican accounts written by outspoken critics of the former President-General Santa Anna. Historical facts from the Battle of the Alamo were overshadowed in Mexican history by the importance of the Mexican-American War of 1846-1848.
The Alamo remained known by the largely Tejano population for its decades of assistance as either a mission, a hospital, or a military post. However, the growing English-speaking population knew it best for the Battle of the Alamo. Determining which of the two sides had more reason and justification for their view is up to you. Still, the growing English-speaking population was heard, and the Alamo imagery of Texian resistance grew. This led to a discrepancy between the two people living in the area, Texians and Tejanos, a drawn line with long-lasting effects until the early 20th century. Social differences divided the inhabitants, and this could also be seen in Mexico. Newspapers were either glorifying Santa Anna as the “Illustrious General” with his “Invincible Army” until his defeat or questioning the Battle of the Alamo’s logic that came at a great cost.
In the United States, the Alamo was remembered and used as a parallel to the Vietnam War. Rationalizing the need to send more troops to Southeast Asia, US President Lyndon Johnson remarked, “Just like the Alamo, somebody damn well needed to go to their aid” when speaking of the soldiers already on the front who were struggling. The backlash came from the public and the media (newspapers), with New York Times underlining the need to remember the Alamo for the “gallant men [who] died needlessly … To persevere is folly. To dare to retreat from error can be the highest form of courage.” The Alamo was the foundation for many anti-war protests during the late 1960s and early 1970s.
As a UNESCO World Heritage Site, the Alamo inspired historians to write it down, directors to film it, and songwriters to sing it. Its legacy lives on through the books The Fall of the Alamo by Reuben Potter, The Alamo by John Myers Myers, the movies The Immortal Alamo by Gaston Melies (1911), The Alamo by John Wayne (1960), The Alamo by John Lee Hancock (2004) and several ballads like The Ballad of Davy Crockett by Tennessee Ernie Ford, The Ballad of the Alamo by Marty Robbins, or Remember the Alamo by Johnny Cash.
Conclusion
The cry “Remember the Alamo!” was heard first during the battle of San Jacinto when 800 Texans defeated the 1,500 men of the Mexican army. The same cry was revived during the Mexican-American War as the two armies fought during 1846-1848. The most exciting thing about history is that it allows us the time to see how lessons can be learned from it. However, the most important thing is not to forget history because then we are destined to repeat it.
The stories of the Alamo can still be felt, seen, and experienced in the city of San Antonio, Texas. Some might be known by many, some by few, and we are curious to learn more about what happened there. Many long-time residents, possible descendants of survivors of the battle, might have some uncovered histories to share, but you can try to learn more from them.
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Let us know in the comments section below if the history of a place influences your relocation decision. It might make a difference for some and none for others. We’re only asking because we know that this country was forged on the backbone of many small or large battles, and this was just one of them. This was the Heart and Shrine of Texas Liberty. Like & Share this article with friends and family as these little pieces of national history should be remembered and treasured by all.