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Looking for a hosting solution for your website?
You’re in luck because with today’s options, it has never been easier to keep your website online.
They take care of all the technical stuff and you get to enjoy casually updating your website for conversions.
And the best part is that most of them are very affordable which helps startups get a hold of their business quickly.
That’s why I put together a list of the best hosting services of 2020 for you.
So without further ado…
The Top 7 Options For Hosting Your Website in 2020:
How to Choose The Best Hosting Service For Your Website:
When it comes to the best web hosting services you have to look at various important factors.
If you jump in too quick you might get into something that’s not suitable for your business.
But don’t let any of that doubt creep into your mind.
Instead, sit back and relax while we present to you all the factors that you need to be aware of before making a decision.
You can weigh the different web hosting services and decide which is the best solution for your specific business.
Hosting factor #1 – Uptime reliability:
If your hosting is down, no one would be able to access your website.
And obviously you want your website running 24/7.
Luckily, in 2020 this is not a huge problem since most web hosting providers offer a ‘99.99% network uptime guarantee’.
That means that your website would go down very rarely.
And even when it does, you can contact your hosting service and you will get compensation.
Most of the time that would be in the form of hosting credits.
If you want to prepare for the worst, you can check out our Website Downtime Survival Guide.
One of the best practices to making sure everything runs smoothly even when you’re taking a break is to sign up for a tracking tool like uptime robot.
If your hosting service crosses the line, this tool will notify you that you need to find a new webserver to host.
Hosting factor #2 – Speed is key:
Website loading speed is extremely crucial when it comes to SEO optimization in 2020.
That’s simply because if your pages load slowly, people will bounce out of your website and your ranking will fall down the drain.
You need a trustworthy host provider that can guarantee optimal website loading speed.
The thing is that you can’t know the exact loading speed before you try the hosting service yourself.
But you can always optimize your website loading speed using free tools and effective loading speed practices.
And the best news is that even if your budget is tight, you can still get a good loading speed.
But don’t expect anything spectacular for say $4/month.
Generally, the higher the price, the faster your pages will load.
Anyways, we will include our personal experience regarding loading speed for each of the options down below.
Hosting factor #3 – Customer service:
Good Customer Service will come in handy when something goes wrong.
Especially if you’re new to websites, you’re bound to make mistakes that may lead to your website being down for a while.
And the more time it’s out, the more it will cost you.
So a good support team will help you get the issues solved in no time.
Even if you made a major mistake that’s impossible to come back from…
Most support teams will have a full backup of your website so you can get back to a working version.
You always want your support team to have a live chat or a telephone you can call.
Email just doesn’t make the cut if you want to resolve the issue fast, which you should want, given that your website is down.
We made sure to include only website hosting services with strong communication skills.
The Different Types of Web Hosting Services:
In 2020 there are a lot of different types of web hosting services.
The most commonly used being:
This means your website will be stored on the same server as a bunch of other websites.
It is a cheap option for startup websites.
With the right one, you can have customizable options and average loading speed.
Don’t look at Shared Hosting as a long-term solution because Shared Hosting can not withstand high levels of traffic.
It’s definitely a good solution for people that just want to get their website up and running fast.
The Virtual Private Server (VPS) is definitely a better option than Shared Hosting.
Each website is hosted in its own virtual space which speeds up your loading speed and also allows you to get more traffic on your website.
This option is best if you’re planning to scale your website fast.
Yet again, it’s not a long-term option if you want to be one of the top websites in your industry.
Simply because it still has limitations when it comes to website traffic.
This is considered the most reliable and overall the best option out there.
You get a dedicated server just for your website with full control over everything.
But prepare yourself for a pricey alternative.
That option is mainly for the best of the best.
If you have plans to scale your traffic to enormously high levels, this is the only option for you.
But if you’re just starting out, we recommend one of the other 2 options.
Anyways, the web hosting services below give you the option to choose between different types of hosting services.
So just choose the one that fits your business and your budget best.
#1 – Dreamhost — Best option if you want quick and responsive website changes
Dreamhost has been a big player for the longest time now.
Founded in 1996 it is one of the oldest hosting services available online.
Some people might think it must be outdated by now.
But that can’t be further from the truth.
Exactly because of their ability to adapt quickly to new trends they’re still considered one of the best in the business.
They don’t look at your website as just another website.
They know that your website is your own vision for the future.
“We Make Sure Your Purpose, Is Our Purpose”
And that’s not just words. Over 1.5 million websites host with Dreamhost.
You can expect great loading speed and friendly, helpful customer support on your side.
With incredibly adaptable services you can literally change your business in a matter of hours.
They know that things change as time passes.
Maybe you want to try out something new.
Maybe you’re certain that your current business model is outdated.
With their fascinating adaptable features, they will be your best friend when making major changes in your website.
#2 – Bluehost — Best for WordPress Hosting
If you’re looking to set up your website in less than a week, you’re probably considering WordPress.
After all, according to NetCraft, 35% of the Internet is powered by WordPress.
And it’s not a surprise. WordPress has been a leader in the industry for years now.
So if you’re looking for the best hosting option for your WordPress website, you can definitely trust Bluehost.
Their Pricing Options start from as low as $3.95/month and get up to $6.95/month.
Which is still not that expensive considering all the unlimited features they bring to the table.
Regarding website loading speed, as long as you don’t fill your WordPress site with plugins, you should be good.
And even if you make a crucial mistake or overload your website with different plugins, you’re in good hands.
Their Customer Support is extremely responsive. They have both an active telephone line and a live chat you can rely on at all times.
#3 – HostGator — The most affordable option for Startups
HostGator is one of the most preferred options when it comes to blogging.
They are perfect if you’re looking for the most affordable way to begin posting online.
Pricing options start from the jaw-dropping $2.75/month.
Once again, you can’t expect the best features for such a low price.
But it’s a great alternative for startups that want to get their website up and running.
And just like Bluehost, they have a responsive telephone line with a live chat you can access at any moment.
You can also find a giant database with common questions beginners have, together with professional opinions and solutions to those problems.
Everything is explained and demonstrated step-by-step and if you’re still not sure that you can do it on your own.
Just shoot them a message and start chatting with their professional customer support.
#4 – WP Engine — Best option if you know your limits
We’re getting to the more advanced options now.
With WP Engine you can customize and get the exact features you need.
Of course, their services are not as cheap as some of the others on the list.
But if you’re certain what are the exact characteristics you need in a website, then WP Engine got your back.
You just have to contact them and work out the best plan for your specific situation.
Of course, their experts are going to help you choose the correct option without pushing you to stuff you wouldn’t need.
It’s a great Hosting Service if you’re looking to scale big.
Don’t expect cheap services, but expect great quality and support on the way to your successful business.
#5 – Hostinger — Low-Cost Shared Hosting options for Startups
Hostinger is unique with it’s Shared Hosting Services.
Their prices literally start from $0.99/month. WOW.
Of course, you’ll be very limited with this option but it shows how much they are ready to do in order to satisfy their customers.
We personally recommend one of the higher tier options:
The good thing with Hostinger is that for as low as $3.99/month you can get unlimited access to everything.
With 24/7/365 support, you can expect professional assistance at any point.
For $3.99/month you get great loading speed and daily website backups.
That means even if you mess up badly, you always have access to previous versions of your website.
It is the best option if you’re searching specifically for a Shared Hosting Service that’s affordable and reliable.
#6 – InMotion — Best option for Scaling BIG
Are you positive that your website is going to dominate the online space?
If you’re 100% sure, then you should definitely take a closer look at InMotion.
Their VPS and Dedicated hosting services are far from cheap.
But with Premium prices come Premium services. We are talking fast loading speed and devoted customer support.
Obviously there’s also affordable WordPress Hosting and Shared Hosting options.
But if you’ve tried these before and now you’re looking for the next step.
InMotion is going to overdeliver on every promise.
Check out their plans and choose the one that fits your needs best.
#7 – Siteground — Best for WooCommerce Hosting
Do you want to sell your products online?
Then you’re probably in need of a good, reliable WooCommerce Hosting Service.
If that’s that case, then you should take a look at Siteground.
They have separated their pricing options depending on your scalability.
Most Hosting Services cut you here and there when it comes to cheaper options.
This is not the case here!
Siteground really wants to overdeliver, even if you choose their cheapest options.
Their Customer Service has a whopping 90% resolution at first contact.
That means that 90% of the time you’ll chat or speak with an expert in their team and resolve your issue in no time.
So if you’re looking for the best WooCommerce solution, Siteground is the hosting service for you.
Your Hosting Service Is Your Best Friend
Make sure you make a well-thought-out decision.
You’re most likely going to have a long-term relationship with the hosting service you choose.
So carefully look into every option that caught your eye today and choose the one that fits your needs best.
So, whether you choose one of my top recommendations or scout out your own, use the tips and best practices we talked about to make an educated decision… like the future of your business depends on it.
Because it does!
Have you worked with any website hosting companies in the past? How did it go and did you get the results you hoped for?
You know when it’s nearing the 4th of July and you go shopping for fireworks? As a kid, you look for the biggest one, assuming it will have the most impact. You want it to not only look pretty, but also have a powerful boom. Finding business startup loans can be similar to finding the perfect fireworks for your summer celebration.
Business Startup Loans Could Be Just the Spark Your New Business Needs
How can you possibly compare business startup loans to fireworks? It’s really easy when you consider the sheer number of options available when it comes to start up loans, just as there are an overwhelming number of options when you are choosing fireworks.
Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.
Traditional and SBA Loans
These are like the sparklers of business startup loans. They seem easy at first, but if you grab the wrong end, they are not fun at all! Why are SBA loans lumped with traditional loans? Basically, SBA loans are traditional loans with a government guarantee. Generally, applications are processed and funds are dispersed through traditional lenders.
However, not everyone is eligible for a traditional loan. For those that do not meet the requirements of traditional loans, SBA loans are a viable option. However, the requirements and government red tape still trip a lot of borrowers up. Here are the best SBA options for business startup loans.
This loan program features federally funded term loans in amounts up to $5 million. In addition to functioning as business startup loans, these funds can be used to expand an existing business, purchase equipment, or to fund working capital, among other things. Banks, credit unions, and other specialized institutions partner with the SBA to process and disburse the cash.
The minimum credit score to qualify is 680. There is also a required down payment of at least 10% for the purchase of a business, commercial real estate, or equipment. The minimum time in business is 2 years, but for start ups, business experience equal to two years meets this requirement.
These loans are also available up to $5 million. Terms range from 10 to 20 years, and funding can take from 30 to 90 days. They require a minimum credit score of 680, and collateral is the asset it is financing. There is also a down payment requirement of 10%, which can increase to 15% for a new business.
Like 7(a) loans, there is a 2-years in business requirement, but for startups, if management has equivalent experience that fits the bill.
Online lenders are like the roman candles of business startup loans. They carry more punch than sparklers, meaning they are easier to get your hands on than traditional or SBA loans. However, if you mishandle them you can be in for a rude awakening. Here are a couple to help you start your search.
Upstart is an online lender that uses a completely innovative platform for loans. The company itself questions the ability of financial information and FICO on their own to truly determine the risk of lending to a specific borrower. Instead, they use a combination of artificial intelligence (AI) and machine learning to gather alternative data. They then use this data to help them make credit decisions.
This alternative data can include such things as mobile phone bills, rent, deposits, withdrawals, and even other information less directly tied to finances. The software they use learns and improves on its own. You can use their online quote tool to play with different amounts and terms to see the various interest rate possibilities. Typically, business loans are available ranging from $1,000 to $50,000. Interest rates vary greatly, ranging from 7.5% to 35.99%. Repayment terms can be either 3 -year or 5-year.
Obtaining financing from OnDeck is quick and easy. First, you apply online and receive your decision once application processing is complete. If you receive approval, your loan funds will go directly to your bank account. The minimum loan amount is $5,000 and the maximum is $500,000.
Just like any other online lender, they do have certain requirements to qualify for a loan. For example, a personal credit score of 600 or more. Also, you must be in business for at least one year. Annual revenue must be at or exceed $100,000. In addition, there can be no bankruptcy on file in the past 2 years and no unresolved liens or judgements.
The Big Finish
Now, for that one diamond in the rough. The one you spot across the tent that promises awe and wonder. You aren’t sure if it will pay off because you’ve never actually seen one like it in action before. You wait in anticipation to use it as the big finish at the end of the show and, this time, you are not disappointed. That’s the credit line hybrid.
Credit Line Hybrid: The Business Startup Loans Option You Didn’t Even Know Existed
What if there were an option that allowed you to have an even better interest rate than a secured loan, and yet get the money faster and easier than any type of traditional funding. Imagine being able to get business funding without having to supply bank statements or credit stubs? Now, consider that you could get funding in a few days rather than weeks without supplying any collateral or documents? This is exactly what the credit line hybrid allows you to do.
Basically, it allows you to fund your business without putting up collateral, and you only pay back what you use. It’s like revolving credit, without the need for collateral, but with lower interest rates than most credit cards.
It’s not as hard as you may think to qualify. Of course, good personal credit is key, but your score doesn’t have to be as high as with traditional loans. Your credit score should be at least 685. Also, you can’t have any liens, judgments, bankruptcies or late payments. Furthermore, in the past 6 months you should have less than 5 credit inquiries. Lastly, you should have less than a 45% balance on all business and personal credit cards. It’s also preferred that you have established business credit as well as personal credit.
Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.
If you do not meet all of the requirements, it’s okay. You can take on a credit partner that meets each of these requirements. Many business owners work with a friend or relative to fund their business. If a relative or a friend meets all of these requirements, they can partner with you to allow you to tap into their credit to access funding.
Credit Line Hybrid Benefits
There are many benefits to using a credit line hybrid. For example, it is unsecured, meaning you do not have to have any collateral to put up. Also, the funding is “no-doc.” This means you don’t have to provide any bank statements or financials.
Going further, typical approval is up to 5x that of the highest credit limit on the personal credit report. Sometimes you can even get interest rates as low as 0% for the first few months, allowing you to put that savings back into your business.
The process is pretty fast, especially with a qualified expert to walk you through it. One other benefit is this. With the approval for multiple credit cards, competition is created. This makes it likely, if you handle the credit responsibly, that you can get interest rates lowered and limits raised every few months.
The Right Platform
Of course, location and platform are key elements to any good fireworks show. You want to have a great, safe place to shoot from. Beyond that, you want to make sure there is nothing to obstruct vision. Fundability is the platform from which you shoot off your business startup loans for all to see the beautiful results.
What’s fundability? It’s the ability of your business to get funding. It embraces a number of far reaching factors, but it all starts with the foundation.
The foundation of fundability is in how your business is set up. It has to be recognizable to lenders as a fundable entity separate from you, the owner. How do you make that happen? Well, like any foundation, it is best to start at the beginning. If you start with a fundable foundation from the inception of the business, everything will run more smoothly. However, if your business is already up and running, then you may not have that option. That’s okay, it’s never too late to start, but start now. The longer you wait the harder it will be.
The first step in setting up a foundation of fundability is to ensure your business has its own phone number, fax number, and address. What may be surprising is, that doesn’t mean you have to get a separate phone line, or even a separate location. You can still run your business from your home or on your computer. You don’t even have to have a fax machine.
In fact, you can get a business phone number and fax number pretty easily that will work over the internet instead of phone lines. In addition, the phone number will forward to any phone you want it too so you can simply use your personal cell phone or landline if you want. Whenever someone calls your business number it will ring straight to you.
Faxes can be sent to an online fax service, if anyone ever happens to actually fax you. It may seem outdated, but it does help your business appear legitimate to lenders.
You can use a virtual office for a business address. How do you get a virtual office? What is that? It’s not what you may think. This is a business that offers a physical address for a fee, and sometimes they even offer mail service and live receptionist services. In addition, there are some that offer meeting spaces for those times you may need to meet a client or customer in person.
The next thing you need to do is get an EIN for your business. This is an identifying number for your business that works in a way similar to how your SSN works for you personally. You can get one for free from the IRS.
Incorporating your business as an LLC, S-corp, or corporation is necessary to fundability. Lenders are more likely to believe you are a legitimate business if your business is incorporated. Incorporation also offers some protection from liability.
Which option you choose does not matter as much for fundability as it does for your budget and needs for liability protection. The best thing to do is talk to your attorney or a tax professional. When you incorporate, you become a new entity. That means you start over with credit history and time in business.
This is why you have to incorporate as soon as possible. In itself it is necessary for fundability, but time in business affects fundability also. The longer you have been in business the more fundable you appear to be. That starts on the date of incorporation, regardless of when you actually began doing business.
Business Bank Account
You have to open a separate, dedicated business bank account. There are a few reasons for this. First, it will help you keep track of business finances. It will also help you keep them separate from personal finances for tax purposes.
There’s more to it however. There are several types of funding you cannot get without a business bank account, and some lenders and credit cards want to see a business account with a minimum average balance. In addition, you cannot get a merchant account without a business account at a bank. Without that, you can’t take credit card payments. Studies show consumers tend to spend more when they can use a credit card.
Credit Line Hybrid Financing: Get up to $150,000 in financing so your business can thrive.
For a business to be legitimate it has to have all of the necessary licenses it needs to run. If it doesn’t, red flags are going to fly up all over the place. Do the research to ensure you have all of the licenses necessary to legitimately run your business at the federal, state, and local levels.
Make Your Business the Brightest
Let’s be real. There’s a lot more at stake when you are choosing business startup loans than when you are choosing fireworks. In the end however, the goal is the same. You want the one that gives you the most bang for your buck.
The post Find Business Start Up Loans and Watch Your New Business Explode appeared first on Credit Suite.
Marketing has evolved into an omnichannel approach. This means you can no longer just go after one channel to succeed.
Back in the day, companies like Facebook grew into billion-dollar businesses through one channel.
Facebook used email to grow and they did it by having you invite all your contacts to join Facebook.
Yelp was also similar. They grew into a multi-million dollar business through one channel… SEO.
Dropbox grew through social media. If you tweeted about Dropbox, they would give you more space.
These marketing approaches worked well for all of these well-known
companies, but what’s wrong with them?
The law of shitty click-throughs
What worked for Facebook, Yelp, and Dropbox were all great strategies, but over time, all good marketing channels got saturated and stopped working like they used to.
As Andrew Chen puts it, first it works
and then it doesn’t.
It really is that simple. Sure, those channels can still
drive traffic and always will, but as people get used to them, they won’t work
Just check out this image below.
Can you guess what that is?
That was the first banner ad. AT&T created that banner ad and placed it on HotWired.com in 1994. And here’s what’s really crazy… out of all the people who saw it, a whopping 44% clicked on it.
Just think about that… that banner ad had a 44% click-through rate.
We can all agree it’s not an amazing banner ad or design, it
just so happens that it was new and novel at the time, so it generated massive amounts
Just like how SEO was more effective earlier on, or paid ads were more affordable and produced a higher ROI, or referral marketing was much more effective. There are a lot of single-channel case studies that worked in the past.
Again, it doesn’t mean any of these channels don’t work, it
just means that they don’t work as well as they used to work.
So how do you survive in a competitive market?
You take an omnichannel approach. You don’t have a choice other than to use all of the marketing channels out there.
Yes, they will be competitive and saturated, but they still
It’s a game of papercuts… papercuts are small and don’t do much damage, but if you have tons of these small papercuts, they will add up and can do some damage.
The same goes with your marketing. If you add up all of these channels that produce a small amount of ROI, it will add up to a big number at the end. But when you look at each channel individually, the results aren’t that sexy. But when you combine them, it looks great.
Start with chat
What do you check more, your text messages or your email
I bet you are going to say text messages because you look at
your phone more often than logging into your email inbox.
But here is an interesting stat for you… did you know that
billion SMS messages are sent daily?
Now can you guess how many emails are sent daily?
That’s a big difference.
And do you know how many people visit Facebook each day?
Now the point of me sharing those stats isn’t to try and
tell you that email is better than text. Or that Facebook isn’t as valuable as
It’s more so to show you that they are all massive channels
that people are using each and every day.
So why wouldn’t you try and leverage all of them?
And you can easily do so through free chat marketing tools like Manychat that allow you to communicate to your visitors using text messaging, email marketing, and Facebook Messenger.
Once you have created your Manychat account, go here to watch how to set it up. They have tons of very helpful videos that teach you how to do things like setting up Facebook Messenger bots and connecting your Facebook page so you can start sending out messages.
Now that you are all set up, I want you to use the following templates for your business as I know they convert…
Templates that convert
My team and I have tested out tons of different messaging
for all channels, such as email, messenger and text messaging.
Here are the ones that have worked the best for us…
Text messaging templates
My favorite text message to send someone is:
When someone sends you a text with just your first name and a “?” what do you do? Chances are you respond with… “who is this?”.
Once someone responds with who is this, our sales reps typically
This is John from Neil Patel’s team. I just wanted to follow up to see if you have any questions or if we can help you with anything.
It’s simple and it works well and it has boosted our sales
Another one that works well is a “flash sales” text message…
Flash Sale: All product on [yoursite] are [x]% off for the next 24 hours. [insert URL]
This one works really well during holidays or anytime you
want to run a promotion. Depending on the size of the business you run and how
big your list is, you will usually see an additional 2 to 3% in revenue for
And my favorite text campaign is…
Check out this new blog post, [subject of the blog post] [URL]
An example would be… “Check out this new blog post on doubling
your SEO traffic [URL]”
When I send out text message alerts for new posts, it usually increases the traffic to that blog post by another 4%.
You’re probably familiar with this email template as you get
it from me every week. 😉
Subject: How to Generate Leads When You Have Little to No Traffic
If you have a ton of traffic, it’s easy to generate leads.
But what if you have a new website or one with little to no traffic?
What if you don’t have any money to spend on paid ads?
What should you do?
Well, there is a solution. Here’s how you generate leads when you have no traffic.
I send out an email every Tuesday and Saturday that looks
something like that.
It’s a simple text-based email where the subject line is the title of your blog post and the text of the email states a problem and solution, with the solution being a link to the blog post.
To give you a rough idea, that email format has been getting me 29% to 33% open rates and 4% to 7% click-through rates.
And if you are selling info products through webinars, there are 8 types of emails I use to generate sales (check out that post if you want to learn how to make good money selling info products):
- Invite sequence – these are a series
of emails that invite people to watch your webinar. (here
are my invite emails)
- Indoctrination – you need to build a
connection with people. People are more likely to convert if they know more
about you and trust you. (here
are my indoctrination emails)
- No shows – just because someone
signs up to watch your webinar, it doesn’t mean they will attend. For everyone
who doesn’t attend, you’ll want to email them and get them to watch the replay.
are my no show emails)
- Encore – not everyone will watch
your whole webinar. If they don’t stick to the end they won’t see your offer.
You’ll want a few emails that push the replay. (here are my
- Objection handler – there are a
handful of reasons someone may not buy. You’ll want to answer each of those
objections through email. (here
are my objection handler emails)
- Countdown sequence – you’ll want to
close off your course. Letting people know that they only have a few days left
to buy is a really effective way to generate sales. These emails will roughly
make up 1/3 to half of your sales. (here
are my countdown emails)
- Last chance email – on the last day
you’ll want to send a few emails letting people know it is about to close. (here
are my last chance emails)
- Free trial offer – the majority of
people won’t buy from you. Offering the last chance free trial offer is a great
way to roughly get 15% more sales. (here
are my free trial emails)
If you are selling products, there are 3 main emails that I’ve found to work well. The first 2 are for cart abandonment.
Subject: Did you forget something?
We noticed that you left something behind. Don’t worry though, we saved the items in your cart so you can easily complete your purchase.
[insert picture of products]
CTA button: Return to cart
This simple abandonment email typically increases sales by 1.73%. I know it’s not a lot, but it’s all about the papercuts as I mentioned above. 😉
Subject: Still thinking about it?
If you can’t decide on whether [insert product name] is right for you, here are some of the benefits:
[insert benefit 1]
[insert benefit 2]
[insert benefit 3]
[insert benefit 4]
[insert benefit 5]
[insert benefit 6]
So, what are you waiting for? You have nothing to lose with our 30 day no questions asked money back guarantee.
CTA: Complete my purchase
On average this email has provided our customers an increase of
1.44% in sales.
Subject: Who doesn’t love 15% off?
Explore new [type of products you sell] that will help you with [insert benefit].
Sale ends at [insert date and time].
CTA: Claim my discount
Now with the discount/coupon code email, we’ve found the results to vary a lot. The bigger the discount, the more sales you will typically receive. The biggest gains are when companies offer over 30% or greater discount.
Facebook Messenger templates
Unlike email and text, you can’t just easily just message people
on Facebook Messenger and do whatever you want. There
- You can message a subscriber within the last 24 hours of your last interaction.
- Within that 24-hour time period, you can send promotional material.
- After the 24 hour period, messages must contain one of these 4 tags: confirmed event update, post-purchase update, account update, or a human agent.
- For users who opt-in to receive messages after 24 hours, you can, of course, message them.
As for templates that work, because Facebook is continually changing Messenger rules, follow these templates over at Manychat as they constantly change based on real-time data of what is working or what isn’t.
You have no choice but to take an omnichannel approach with
Sure, all good channels eventually get crowded and click-throughs will decrease over time, but if you go after all of the main channels the marginal gains will add up.
And the easiest way to start with going omnichannel is with chat. I know you are probably using email, but I bet you aren’t using text messaging or even Facebook Messenger bots. And I bet you aren’t using push notifications either.
So, how many marketing channels are you using?
Everything Starts with Something: Business Credit Starts with Business Trade Lines
Everything has to start somewhere, with something. A flower starts with a seed. A book starts with the first letter typed, a house begins with the first nail hammered, and a move begins with the director’s word. When it comes to business credit, it all starts with business trade lines.
You have heard the adage you have to have money to make money. You have probably heard you have to have credit to get credit. While both of these are true to a point, seemingly catching us in a vicious circle, it isn’t entirely true with business credit.
A circle has no clear beginning. Business credit however, does. Just not very many people know about it, and it can be difficult to find. We know the secret though, and we are willing to share.
The Prep Work for Business Trade Lines
Of course, we all know that a lot of work goes in a house, a book, a garden, and a movie before that actual first nail, letter, seed, or director’s word. This prep work lays as solid foundation for the final masterpiece. There is a way to lay a solid foundation for business credit as well, before you even consider looking into business trade lines.
Research is how a book or movie starts, and any construction starts with clearing the area and dirt work. A garden spot must be tilled and fertilized before seeds can be planted. Something similar is necessary to establish and build business credit. You have to build a solid foundation for that credit to sit on. Now, that foundation is not necessarily your business. Your business and your business credit will grow together. You can start the prep work at the same time you are starting your business.
To be clear, if your business is already up and running you can still establish business credit. The foundation can still be built. In this way it is different than a building or a book. However, as with any first steps, it is much easier to take them in the beginning.
How to Form the Foundation for Business Credit
Before you consider business trade lines, you need to consider how your business is set up. For many new business owners, starting a business just kind of happens. You have something you do that you love, and you decide its time to use it to make money. You may find a location or start from your home. Likely you simply mingle funds in your personal bank account. You have a business name but the business address, email, and phone number are all the same as your personal contact information. It is sort of a natural progression.
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If you want to establish business credit, you have to be purposeful to set up your business separate from yourself. This means doing a few things differently.
How to Establish Your Business as a Separate Entity
First, you have to incorporate. Running as a DBA, sole proprietorship, or partnership really won’t cut it. You can choose from running as a corporation, S-corp, or LLC based on your specific needs, but it needs to be one of these three. Each one comes associated with a different cost and varying levels of protection, but each will serve the purpose of separating your business from yourself.
Next, establish separate contact information for your business. You need a business address, email, and phone number that is different from your personal address, email, and phone number. The phone number should be from a toll-free exchange, and your email address should be associated with your professional website. Do not use a free service such as Gmail or Yahoo, and don’t ignore the professional website part. These days, a poorly put together website can ruin a business.
Pick Your Numbers
After these first steps are complete you need to play the numbers game. In order to establish business credit, your business has to have two numbers associated with it. The first is an EIN. This is an identifying number for a business, similar to a social security number. You can get one for free on the IRS website.
The next is a DUNS number. This is a number assigned by Dun & Bradstreet, the largest and most commonly used business credit reporting agency. To have a business credit file with them, you must have a DUNS number. You can apply for it for free on their website, but note that they will definitely try to sell you other services. Be strong. The number is free and the other services are not necessary.
Separate the Finances to Get Business Trade Lines
Open a separate bank account for your business. This is the account through which all business financial transactions should run. If your business is already up and running, it may take you some time to get everything switched over, but it will be worth it. Not only will is help separate your business from your personal credit, but it will also help tremendously when it is time to do your taxes.
Plant the Seed, Hammer the Nail: The Magic of Business Trade Lines
Okay, so these steps ensure that your business is on record as a business at all the right places. As soon as something credit related is reporting, it will have a place to go. How do you get something reported though? You need accounts that will report your on-time payments. Lenders will not even consider extending you credit however, if you don’t have a credit score, or if your credit score is bad. How do you break into the circle?
You can find a tiny crack with business trade lines. These are vendors that sell things you use in the everyday course of business, and they are vital to building business credit. Here’s how it works. They will extend net30 terms on invoices, without a credit check, and then report your invoice payments to the business credit reporting agencies.
For most of these vendors, you will have to make a few initial purchases before they will extent net30 terms. Some want to see a minimum time in business or a certain revenue level as well. We have compiled a list of six easy approval business trade lines to help you get started.
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If you need computers or other electronics, this is the place to start. Newegg Business offers tons of electronic products, so there is something that pretty much any business can use. To open an account with net30 terms, you’ll need a DUNS number and a bank reference. Net30 accounts range from $500 to $1,000, and they report to Dun & Bradstreet.
This company sells eBooks, software, and even office supplies. You do have to register to see their products, but the process if fast and easy. You will have to make a $60 or more initial purchase to be eligible for a net30 account of up to $2,000. They report to Experian and Credit Safe.
Granger industrial supply sells industrial equipment for outdoors as well as standard tools, and more. To gain net 30 approval you will need a business license, a DUNS number, and bank reference. Their net 30 accounts range from $500 to $1,000 and they report to Dun & Bradstreet.
Another office supply provider, you can order anything from paper to staples, pens to printer ink, and pretty much anything you can think of in between from Summa. They require a $60 initial purchase, and will approve up to $2,000 on net 30 terms. They report to Dun & Bradstreet.
Quill also sells standard office supplies. You will need to make an initial purchase. They’ll usually put you on a 90 day prepay scheduled, but after ordering for 3 months in a row, they’ll typically approve net 30 term. They report to Dun & Bradstreet.
Uline sells a lot of things, but they specialize in packing and shipping equipment and janitorial supplies. You’ll need to place an initial order, and they do ask for a bank reference and two other references. They report to Dun & Bradstreet, so you’ll of course need a DUNS number too.
If you open accounts and get net 30 approval with each of these, you could have between $5,000 and $10,000 in accounts reporting to the credit agencies pretty quickly. Make your payment consistently, and that seed you planted with these easy approval business trade lines will sprout to the point you will be ready for the next step in building business credit before you know it.
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What Comes After Business Trade Lines?
These business trade lines are all part of the vendor credit tier. After you have a few of these accounts reporting, you can apply for accounts in the retail credit tier, then the fleet credit tier, then the cash credit tier. Here’s what you need to know about each tier, and what happens when you get to the top.
The Retail Credit Tier
This would be relatable to the editing stage of writing a book or a movie, the weeding stage of planting a garden, or the sheetrock stage of building a house. You’ve done the prework of research or preparing the ground, you have planted that first seed, banged out that first word, or hammered that first nail. So now, it is time to move on.
In building business credit, after you have enough business trade lines reporting, this means moving on to the retail credit tier. These are credit cards issued by specific retailers such as Amazon, Office Depot, and Best Buy. Apply for these accounts, purchase things you need in the everyday course of running your business, and make your payments on-time. Your business credit score will grow stronger by the day.
The Fleet Credit Tier
This is where you head into publication, start prescreens, water the garden daily, and start getting the inside of that house ready for move in with paint and appliances. These cards are issued by fleet companies such as Shell and Fuelman. They can be used to purchase gasoline or for automobile maintenance and repairs. Once you have enough of these accounts reporting, it’s time for the last tier.
The Cash Credit Tier
The cash credit tier is the finished product. Your book or movie is out there for the public to enjoy, your garden is ready for harvest, and you can sleep comfortably in that house each night. The cash credit tier consists of the traditional Visa, Master, and American Express cards not associated with a specific store. Use this wisely, continue to make consistent, on-time payments, and your business credit will be rock solid.
Why Business Credit?
You may be asking yourself the question, why bother? You may have personal credit that will allow you to get what you need to run your business without needing to work with business trade lines. It can take time, and better prices may be available elsewhere. What’s the point? Why do you need business credit?
The fact is, its never a good idea to have your business transactions on your personal credit report. There are a few reasons for this. First, if your personal credit takes a hit, it can affect your ability to run your business.
Also, business credit cards based on personal credit often have a lower credit limit, and business transactions are often very large. If you get close to your limit, your score will take a hit even if you make your payments like you should due to the high debt-to-credit ratio.
By having cards based on your business credit, you can get higher limits, and your personal credit will not be affected by business transactions. This way, you do not have to worry about business transactions keeping you from applying for personal credit you may need to purchase a car or make home improvements.
Business Trade Lines are the Beginning of Great Business Credit
Regardless of your personal credit score, you really do have to work with business trade lines to start your business credit. After you establish your business and prepare the way for your business transactions to be reported to your business credit profile, you will need accounts to report. Most credit cards will not extend credit to a business with no credit, or bad credit. Working with business trade lines that do not do a credit check is a way around that. You can start building business credit in your business name without your personal credit score ever being involved. So it’s a win/win for you and for your business.
The post Break in to the Credit Circle: 6 Easy Approval Business Trade Lines appeared first on Credit Suite.
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