Author: anwaryusef

Anwar Y. Dunbar is a Regulatory Scientist. Being a naturally curious person, he is also a student of all things. He earned his Ph.D. in Pharmacology from the University of Michigan and his Bachelor’s Degree in General Biology from Johnson C. Smith University (JCSU). Prior to starting the Big Words Blog Site, Anwar published and contributed to numerous research articles in competitive scientific journals reporting on his research from graduate school and postdoctoral years. After falling in love with writing, he contributed to the now defunct Examiner.com, and the Edvocate where he regularly wrote about: Education-related stories/topics, Science, Technology, Engineering and Mathematics (STEM), Financial Literacy; as well as conducted interviews with notable individuals such as actor and author Hill Harper. Having many influences, one of his most notable heroes is author, intellectual and speaker, Malcolm Gladwell, author of books including Outliers and David and Goliath. Anwar has his hands in many, many activities. In addition to writing, Anwar actively mentors youth, works to spread awareness of STEM careers, serves on the Board of Directors of the Friends of the David M. Brown Arlington Planetarium, serves as Treasurer for the JCSU Washington, DC Alumni Chapter, and is active in the Dave Ramsey Financial Peace Ministry at the Alfred Street Baptist Church. He also tutors in the subjects of biology, chemistry and physics. Along with his multi-talented older brother Amahl Dunbar (designer of the Big Words logos, inventor and a plethora of other things), Anwar is a “Fanboy” and really enjoys Science-Fiction and Superhero movies including but not restricted to Captain America Civil War, Batman vs. Superman: Dawn of Justice, and Prometheus. He is a proud native of Buffalo, NY.

How You Can Become A Better Real Estate Investor

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Many people aspired to become real estate investors but not everyone knows the secrets to becoming successful ones. The following contributed post is entitled, How You Can Become A Better Real Estate Investor.

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Real estate remains a bustling industry in the US, with data indicating that 5.64 million existing houses were sold in 2020 alone. Therefore, it is always an excellent idea to become a real estate investor to benefit from the sustained high demand for property. However, success in this competitive industry demands being on top of your game, so you need to upgrade your knowledge and skills to become a wealthy real estate investor. If you wish to learn more about becoming a better real estate investor, consider the points below.

1. Don’t go in without a plan

Many successful real estate investors agree that it is essential to approach all your activities as a business professional to achieve short and long-term goals in this competitive sector. Consequently, crafting a business plan is an excellent idea since it lets you visualize the big picture. This way, you can maintain focus on significant goals instead of getting sidetracked by minor setbacks. Your plan must include estimated outlays and cash inflows from your rental properties, when to refurbish units, property investment niches, how many units to invest in, and anything else that can influence your investment over time.

2. Partner with the right professionals

It is typically impossible to have all the skills and expertise necessary to be a successful real estate investor on your own irrespective of whether you are into it part-time or full-time. Therefore, partner with the right professionals to help you achieve significant success as a real estate investor. For instance, it would be best to hire an accountant because taxes constitute a substantial portion of any real estate investor’s yearly expenses. Also, understanding the latest tax laws can be complicated and take time from your core business. As such, an accountant is necessary to handle your company’s books and all tax-related issues. Similarly, you can hire real estate lawyers to smoothen the legal transfer of property to buyers, handle any landlord-tenant matters, and take care of any real estate asset registration.

3. Understand the market

Excellent knowledge of the broader and local real estate market is also necessary to become better at real estate investing, so keep this in mind. Therefore, stay abreast of any trends in the market, including mortgage rates, unemployment rates, consumer spending habits, among others. Understanding your market will also help you evaluate the price of any investment property for sale and rent. In addition, you can also know the best ways to renovate properties to make them more appealing to buyers if you understand your market. For instance, there is no need to rip out a great yard to put in a pool if there is a low demand for it in the neighborhood. Similarly, if you renovate property in a family-friendly community, reducing the bedroom count is almost always a bad idea.

4. Ask for referrals

A reported 82% of all real estate transactions come from referrals. Since these referrals generate a significant portion of your business as a real estate investor, it is vital to ask for them to get more clients. However, this requires treating others with respect and being on good terms with your business partners, renters, clients, associates, and many others. Therefore, maintain good relationships to build an excellent reputation that will increase your chances of getting more referrals.

5. Take inspiration from existing real estate developers

It’s important to remember that everyone had to start somewhere in their real statement developer/investor journey. With that being said, it’s worth taking inspiration from any existing real estate developers on the web and in your local area.

Following the likes of Paul Ognibene is something that can be handy when you’re trying to build upon your own successes. You never know what you might be able to learn from the professionals.

Ways You Can Make Your Business More Successful

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Once you started your business, your thoughts will inevitably turns towards growing it and making it more successful. The following contributed post is entitled, Ways You Can Make Your Business More Successful.

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Anyone who owns a business needs to develop a strong and proactive approach to dealing with change. No good business owner sees their business as a finished entity. It is always a work in progress no matter how big and successful they become. That is because business needs to mirror the external work and the external work is forever in flux. All the time, new technologies are being invented. Some of which have the power to totally revolutionize the way things are done. So, staying ahead of trends and finding a way to make your business run more smoothly is a must.

Image from Pixabay

Upgrade your Brand
In the age of the Internet, it is easier than ever before to look at a company and learn all about it. That means you have to have something about your in order to stay ahead of the competition. All this can come from developing your company’s brand. Think about your target audience and how you want to position yourself in a social and ethical way. If you can create a brand with core values and ket messages which resonate with your target audience, all the better. You can create a company culture in which all staff are included. This helps strengthen your brand image by proxy. If you need any particular help in developing your brand, why not use an online reputation management agency to help you move forward. Remember, how you position yourself will affect all your marketing material. You want a fully coherent strategy across all media types, your website, social media, etc. Continuity helps with building trust and customer loyalty. You can now also use marketing software to help streamline automation and free up more of your precious time while still getting your brand name out there.

The Wellbeing of Your Staff
In effect, your staff runs your company for you. Well, they deal with the daily goings-on, such as talking to customers and selling your products. So if you haven’t thought about their wellbeing much, perhaps now is the time you do so. If you want a more successful business, you need to make it more productive, and having happier staff will go a long way to producing that effect. Think about their comfort levels. Why not invest in better chairs and tables, for example? Also, think about the workspace. Is it inviting, bright and airy, and basically conducive to hard work? You should also, as mentioned above, develop a better company culture. Have open and honest communication built into its heart and allow people to speak freely about issues and problems. The more you know about the company, the more you can improve it.

Outsourcing Tasks
If you are trying to get your in-house team to deal with complicated and highly skilled tasks such as I.T Security or accountancy, then you may be putting your business at risk. It is far better to outsource particular tasks rather than run the risk of something going wrong. Not only will you know the job will be done right the first time, it frees up your team to continue with their usual errands. Outsourcing saves time and money as well as resources and stress.

Ways To Raise Funding For Your Business

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. A major challenge to any business, especially one just starting up is funding it until it can become self-sustaining. The following contributed post is entitled, Ways To Raise Funding For Your Business.

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Every business venture in the world needed capital to get started. Depending on the type of business and the size and scope you are going for, will affect just how much money you need to start. In this day and age, there are many ways you can secure the financing you need. However, there is a lot of competition for the funds you are after. So you need to be a business person from the very off. To secure funds, you need to be thorough, exact, and professional, and that’s just for starters.

Image from Pixabay

Create a Business Plan
If you want to secure the funding you need, you are going to have to create a fully comprehensive business plan. Without going through his process, you will not have given the business enough in-depth thought and analysis in order to step into the room with investors. A business plan will help you work out exactly which finances you need and where they will be placed. It helps you develop a full understanding of how the business will work and is a great way to visualize exactly how it is going to work in the real world. All this is like a dry mental run of the business as it will actually be.

Crowdfunding
There may be scope for you to source funding online from crowdfunding platforms. A lot of people have used these sites and gotten a great deal of help as a result. As part of your business plan, you could look at ways of positioning your company in order for it to resonate with people. That could be in the ethical sense or by highlighting some other hot topic in the world today. If you can resonate on issues that matter, that will definitely work in your favor. This sort of technique will also be of use when targeting marketing campaigns. So, bear in mind your company’s core values and culture.

Seek Help from the Bank or Other Reliable Lenders
Gong to the bank to secure a business load is a pretty traditional way of securing funds. There are also a lot of lenders online, so ensure you check this out too. When you visit the bank to pitch your new business model, focus on USP (unique selling point) and have your business plan with you and pretty much memorized. They will want to know that you have properly thought out your business venture, especially in the matter of finances with real goals and projections in place. You have to show that you are dedicated and knowledgeable in your field.

Business Area Specific Funding
Perhaps you are in the situation where you have received some funding from friends, family, or from crowdfunding, but it is not enough to start your business. Well, what you could do is look to find investors in business area-specific regions, such as manufacturing equipment financing. Go back to your plan and work out where you have financing for and where you do not, and create a plan to take to area-specific financers.

Proven Ways To Increase Your Brand Visibility In 2021

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. If you’re running a business, a component that’s essential to your operations is your brand. In many ways it’s your representative and can work wonders for you. The following contributed post is entitled, Proven Ways To Increase Your Brand Visibility In 2021.

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Statistics show that there are over 31.7 million small businesses in the US. This means a highly competitive business climate, and companies are keen on surviving and growing. This also means that your small business could easily get lost amid other businesses. So, how can you boost your brand’s visibility to help your business grow and succeed? Here are some proven ways to increase your brand visibility today, even with the limited resources.

1. Properly manage your reputation

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Your reputation plays a massive role in whether clients will turn to your business. Your company’s reputation is usually formed by reviews given by existing or past customers. Suppose your business seems to receive numerous reviews of poor service. In that case, new customers would deem your business one with a reputation for poor customer service. To properly manage your reputation, you must manage your feedback.

An effective way of doing so is implementing a review strategy that seeks to take reviews seriously. By all means, emphasize good reviews, acknowledge bad reviews, and fix the various complaints. Doing so would increase your brand visibility as customers are intrigued by businesses that listen. It also boosts your business credibility as it helps your reputation to be a better one.

2. Collaborate with local businesses

You can consider local partnerships to build your brand- especially if your business is local-oriented. You can collaborate with other local companies to co-host festivals and seminars. For example, you can sponsor local sports teams and donate to charity. Your business can significantly benefit from having your brand plastered around festivals and local events. Collaborating with other local companies can do your brand a lot of good.

3. Update your data on business listing sites

Many small businesses underestimate the power of a business listing site. Platforms like Yelp, Facebook, and Google My Business offer an incredible way to reach many customers. Your business’s primary source for market visibility is where its customers are. Previously, companies utilized billboards and newspapers to reach their customers, but now listing sites make it easier for customers to find several businesses that can offer them solutions to their problems. You might want to consider updating your data by adding brand info, products, and photos and also respond to client reviews.

4. Get social

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The number of social media users is increasing, and this is beneficial to your small business. Various social media platforms such as Instagram, LinkedIn, Twitter, and Facebook have made it possible for companies to increase their visibility through effective and reliable interactions with their target audience. You can get the most out of being on social media but producing quality content such as top-quality videos and photos. You can also create high-authority, relevant, and reliable articles.

In today’s competitive climate, awareness is vital for determining if customers will pay attention to your business and its products and service offerings. Fortunately, the tips discussed in this article offers proven for tapping into the value of your brand awareness.

Insurance To Consider When You Run A Business

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Just as with your personal life, insurance can play a key role in the continued health and success of your business. The following contributed post is entitled, Insurance To Consider When You Run A Business.

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When you run your own business it can be very rewarding and exciting. However, as your company grows so do your responsibilities for buildings, people, vehicles and lots of other things. You’re the one in charge and also the one who is to blame when things go wrong. So it is important to protect yourself, your business and your employees in the right way.

Commercial Buildings And Contents Insurance

Accidents happen and it is important to be prepared for everything. Also, businesses normally hold a lot of high ticket items in their stores, factories or storage facilities so are a big target for thieves. So when you take out insurance make sure all of your high ticket items are covered as well as making the place as secure as possible. It’s also important for building insurance as disasters can happen at any point from weather or faulty wires so it’s best to be covered for all scenarios.

HGV Lorries And Truck Insurance

As companies get bigger you could have a heavy goods vehicle involved in your business that will move your products for you and distribute them to where they need to go. As it is work-related you will need to make sure you have the right insurance for HGV trucks and lorries. The standard car insurance won’t cut it and there are different rules about driving such a big and dangerous vehicle. There are also added benefits from some insurance as you can only drive a certain amount of time until you need to stop. You may miss delivery times but you can have third party insurance so someone can take over and you can be on the road longer. Read this to make sure you are getting the right type of insurance you need.

Employees Protection Insurance

As an employer, you have to look after everyone that works for you from the high ups to the cleaners. So it is important you have insurance to protect yourself in case that someone becomes ill or injures themselves as a result of working for you. It also needs to cover former employees as they may also be able to claim if they can prove they were ill as a direct result of your company or negligence. There are lots of rules and regulations around health and safety as it is such an important thing that you need to be on top of as soon as you start employing people. So being insured fully and by the right company will help you if things ever go wrong. The pandemic has seen an increase in safety concerns so it is a very hot topic right now. You want to be protecting your employees at all costs.

There are lots of other different types of insurance you may need to consider depending on the type of business you have. Different business sectors have different rules and requirements depending on what you are working with. These are the basis for all companies to consider.

Injury Prevention And Control In Sport

Two focuses of my blog are Athletics/Sports and Health/Wellness. One of the wild cards of competitive sports is injuries. Injuries can change the destinies for both teams and it’s players. Minimizing and controlling them is thus key. The following contributed post is entitled, Injury Prevention And Control In Sport.

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Injury is the athlete’s pet peeve. Who says injury, necessarily says cessation of sports practice for a more or less long period. In this article, you will find the keys to optimizing your performance as much as possible and thus minimizing your risk of sports-related injuries. This is close to my heart because I myself know this kind of fear and I have had injured athletes in my entourage who have difficulty recovering from it. Let’s go for our tips to help you avoid sports injuries!

The key to your optimum state of shape is above all your daily hygiene. Sleep is a critical function for our health and to prevent sports-related injury. Indeed, this phase allows the body to recover physically and mentally. It is essential because the cellular repair processes mainly take place at night and in addition allows to accentuate the memory, the learning and reinforces the metabolism.

Photo: Unsplash

Limit excess tobacco, alcohol

The impact of these excessive alcohol consumption or smoking can accelerate the phenomenon of rigid and clogged arteries. This increases the risk of cardiovascular disease as well as the risk of cancer, and therefore also the risk of sports injury. It is very important to respect this lifestyle most of the time for overall health and it is even more important for an athlete in search of performance.

A suitable diet to avoid injuries

Diet will also play a key role in reducing the risk of sports-related injuries.
We know that a too acidifying diet can have harmful consequences on our body, (very rich in red meat, saturated fats, white cereals, cheeses). What are the repercussions on the body of an excessively acidifying diet? The acidifying food will generate an acid ground at the level of the organism increasing the risk of:

● muscle pain
● chronic inflammations such as tendonitis
● joint pain
● bacterial and viral infections
A bad diet can also participate in the formation of other ailments such as:
● cramps
● chronic migraines,
● lumbago

Drive out muscle imbalances to avoid sports injuries

We all have a more muscular member than another because by definition we use it more regularly. On the other hand, muscle imbalances will be the gateway to muscle injuries. Many non-traumatic injuries could be avoided by working on our muscle imbalances. For example, back pain often becomes chronic when the back muscles are not working hard enough. While it’s recommended to see a chiropractor if you have back pain, there are things you can do on your own, too. The best management before these pains become chronic is to institute in your daily life, muscular movements of the back (sheathing exercises, back to maintain the column). You must consider aftercare also, such as ice packs and more specifically gel ice packs that work to provide comfort also.

Finally, your physical recovery should be optimized as well. Indeed, neglected recovery does not give the body time to initiate the natural processes of adaptation and recovery. So whilst you can still enjoy your precious sports, you must also consider ways to prevent injury and deal with them in the long term. This way you can always enjoy the sports that you love.

How To Stay On Top Of Business Matters For Greater Efficiency

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Running a business is not easy and depending upon the nature of your enterprise, there can be multiple moving parts. The following contributed post is entitled, How To Stay On Top Of Business Matters For Greater Efficiency.

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Improving how you manage projects is a starting point for becoming more organized as a business. Yet, there is more to business management than running and planning a project. Therefore, it is crucial to stay on top of all business aspects to ensure that your business is efficient as possible. Here are some top tips.

Image by Free-Photos from Pixabay

Outsource work
Outsourcing work and seeking help from other teams is a useful way to get everything done to a top standard. Although you might be able to just manage to juggle all aspects of your business alone or with a small team, you will attain greater results if you complete tasks to the best ability.

For instance, you might lack time to fulfill customer orders and get them shipped out on time. This could damage your business’s reputation and dissatisfy customers. Therefore, you could outsource your shipping to a Fulfillment Center, which can help you stay on top of your orders by packing and shipping them for you. You can sit back and relax while the orders are fulfilled for you.

Review your current structure
Reviewing your current business structure can help you identify where you are lacking efficiency, which will help you make room for improvement.

Without knowing what you are currently doing wrong or areas that aren’t your strong point, it will be difficult to make improvements.

Utilize feedback
Although negative feedback can be difficult to hear, it is best to take it on the chin and use it to your advantage. When someone offers you feedback, you should use this as a way to improve your business.

Should a customer say that they were unsatisfied with the response time from an email, you can use this as a way to improve your business. You might not even know your business’s weak areas. Thus, customer feedback will help you in the process of reviewing your business and help you find areas to focus on that need improving.

Set your business realistic goals
There is no use in setting goals that are far beyond reach as you will put yourself under a lot of unnecessary pressure.

Setting your business realistic goals will help you stay on top of your game and work in small steps to get there.

A realistic goal is one that you can stick to and commit to. If you set a goal that is far beyond realistic, then you will likely have a hard time committing to it because it feels unachievable.

Only organize essential meetings
Sometimes, you might schedule meetings that eat up an hour of your time and you didn’t get much from it. Therefore, you then realize that the meeting was a waste of time when you could have been doing something else and more productive.

Learning from this will help you only organize essential meetings that will make use of your time. An hour of your working day is a long time to waste. Thus, schedule meetings that are essential and only plan a set amount of time that is necessary so that you can be as productive as possible.

Automate processes
To help your business become more efficient, it can help to automate processes. Automation means that you can get on with other tasks while other tasks are being done in the background.

For instance, you could automate your marketing content. You will still need to spend time creating it and scheduling it. However, you won’t have to spend time manually publishing it. You can set up scheduled posts so that your marketing is frequent and consistent. The more frequently you share marketing content, the greater your reach will be.

Say no more than you think you should
It is common practice to say yes to most things that come our way. However, they may not fulfill your time the right way. If you feel that the thing you are being asked to do will not make you be as productive as possible or you have other (more important) things to do, then say no.

There is no harm in saying no. You can’t say yes to everything that comes your way, otherwise, you really wouldn’t have time to get on with your own tasks. Say no more so that you can get on with your own things and be more productive at work.

If you fear saying no or do want to say yes but the timing isn’t right, ask to reschedule the task or meeting so that you can complete it at a later date at a time that will maximize your productivity.

Running A Business: Here Are Ways To Improve How You Manage Projects

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. Depending upon the type of business you’re in, you’ll need to manage numerous projects. This will likely be key to your business’s growth. The following contributed post is entitled, Running A Business: Here Are Ways To Improve How You Manage Projects.

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When running a business, it is essential to manage projects well. Your business may fail because you can’t keep up with all tasks that should be addressed. Here are tips on how to improve your project management skills and make sure everything gets completed.

Invest in Project Management Courses

Project management courses are a great way to improve how you manage projects. A course like Agile project management certification will ensure that your team is on the same page, and you can communicate clearly about what needs to be done, when it should be completed, and any roadblocks along the way. You’ll also learn new techniques for managing schedules as well as the tools you need to get the job done.

Make Use of Project Management Software

Managing projects with project management digital tools is a great way to streamline your workflow, improve communication between teams, and get better at tracking time. This is a great way to work smarter. It’s easy to check in with your team members when using software like Trello or basecamp for project management. There are many features these apps have that make staying on task a breeze.

You can set deadlines and assign tasks so everyone knows what they need to be working on at all times. This will also help them plan their day better. You’ll get a lot more accomplished when you have everything in one place that is easily accessible for every member of your team.

Use a Project Schedule

A project schedule is a document that outlines the tasks to complete for your business. This allows you to see what needs to be done and create a safe environment for honest communication with your employees such as asking for more time to meet project deadlines. You can also use it as an outline for meetings with team members or even customers since they will know what you are working on at any given time, allowing them to make suggestions easily if they would like.

Ensure You Have All the Resources You Need

When determining how many resources you need for a project, consider all the roles and responsibilities. For instance, if your client requires four revisions of their materials before approval, ensure that your team has enough time and capacity to get it done without compromising quality or creativity.

If your team cannot meet the deadline, identify any bottlenecks you can work on to streamline your project management. Everyone must be up-to-date with what they need to accomplish so that there are no surprises. If changes or additions come up during a project, ensure that all team members know about them.

Use Effective Communication Skills

Effective communication is a skill that every business owner should have. This ensures all employees are on the same page and can produce quality products or services for your customers. Be proactive when communicating with your team members; make sure each person knows what they need to do before handing it over.

Conclusion

Ways to improve project management are prioritizing work, organizing tasks into categories, and delegating responsibility for each job to avoid falling behind. A manager may also benefit from using a time tracker app on your phone while handling projects to ensure they stay on track.

This Is How To Sell Your Investment Property

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. If you’re investing in real estate, you always want to be mindful of how to sell your properties if you’ve built up a collection of them, and if it has become lucrative for you to do so. The following contributed post is entitled, This Is How To Sell Your Investment Property.

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When the time comes to sell your investment property, there are several factors to consider. Lucky, you can read all about the most important ones in our post below.

Picture found at Pixabay – License CC0

Get it valued

Before you decide to part with any property assets, it’s vital that you do your due diligence to establish what they could be worth. One way to do this is to look online at similar properties in the area and see how much they are going for.

Getting 2 or 3 valuations from experienced real estate agents can help a lot here as well. The reason being that they will be in the best position to judge how the market is currently moving. It’s important to get more than one valuation too, as there is often a significant difference between valuations. Indeed, the more you get, the more accurate a picture of the true value of your property you can build up, something that will stand you in good stead for when it comes time to put your asset on the market.

Find a great realtor

Another reason why it makes sense to work with more than one realtor to get property valuations is that it will provide you with an opportunity to test? Then, see which one you would work best with. Indeed, choosing a realtor that is not only adept at the selling side of things but also is punctual with meetings and when completing paperwork can make all the difference here.

It can be particularly helpful to choose a realtor that has previous experience with the type of investment properties you are looking to sell. That means finding a commercial property specialist if you have a shop, warehouse, or office building to sell.

Get some amazing photos taken

The good news is that once you have picked a real estate agent to work with, they will do a great deal of the heavy lifting for you. Indeed, they will take down all the details of the property to create an appealing listing to show to potential buyers.

Of course, one of the most important parts of any property listing is the images that go along with it. However, taking the photos yourself may not be the best course of action, the reason being that aerial photography needed to represent the property you have for sale in the best light can be particularly tricky. Instead, it’s best to opt for an expert that understands how various factors such as light, and the angle of the shot can make all the difference to how appealing it looks to potential buyers.

Consider your tenants

Last, of all, it’s pretty common for investment properties to be leased out to tenants, residential or commercial. Now, many people assume that to sell their property, they must inform the tenants that they are ending their lease.

However, it is also possible to sell a property with the tenants in situ and write into the contract that their agreement will be honored. Indeed, many buyers will prefer this because it means they will have a guaranteed income stream from the moment they take possession of the property, so be sure to explore this option before you sell.

5 Reasons Why Buying a Business Can Be Better Than Starting One

Two focuses of my blog are Financial Literacy/Money and Business/Entrepreneurship. There are numerous ways to get into business. One way is to start one from scratch and the second is the buy a pre-existing one. Many have done the latter successfully. The following contributed post is entitled, 5 Reasons Why Buying a Business Can Be Better Than Starting One.

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There’s no denying that there are pros and cons to starting a business from scratch. However, some people believe a better route into the world of entrepreneurialism is by purchasing an established business.

You’re likely considering this option but aren’t quite sure whether it’s the right choice for you or not. With that in mind, you should consider the following five reasons to buy a ready-made business and develop it, as opposed to starting an enterprise from scratch:

1. Buying a Business Isn’t Hard

The sad truth is that some people believe there is much bureaucracy to deal with should they want to buy an existing business. Did you know that the process is more straightforward than you might have anticipated?

For example, you could use a business broker service to help you find the right business and negotiate a fair and reasonable purchase price. Buying a company doesn’t mean you have to do all the research and negotiation work yourself.

2. It’s an Established Brand

One of the challenges of starting a new business from scratch is how you have to spend a lot of time and money promoting a new brand and making it memorable in the minds of your target market.

Thankfully, that isn’t something you need to worry about with an established brand. The business’s present owners will undoubtedly have cemented the brand’s place in your target market, and you can take over and develop that presence further.

3. Immediate Income From the Date of Purchase

When you look for established businesses to buy, one of the things you will consider is the brand’s profitability. If it’s a healthy enterprise with a healthy profit, it will get transferred to you once you complete the purchase of the business.

In contrast, you are less likely to have an immediate income stream from a brand new business that has yet to establish itself in the market. If you want a company that’s turning over money and boasts substantial profit, buying an established firm is the way forward.

4. There’s Less Work to Do

If you purchase an existing business, you get to skip all the hard work associated with launching a new brand. For example, you don’t need to conduct market research, cost analysis, find suppliers that charge competitive prices, and establish the brand.

A healthy and profitable business will only need a few tweaks at best to improve efficiency and performance. You’ll also have more time to develop long-term plans and take action to make those changes happen.

5. You’ve Got an Established Content Network

One final point to keep in mind is how you’ve got an established content network at your disposal when you take on an existing business. That means you can access suppliers, marketers, financiers, and more.

As you can appreciate, finding and forging relationships with such organizations can take a lot of time and trial and error. You don’t need to think about those worries when you buy an existing brand and turn it into your dream business.