From corporate potluck to cheesecake sensation.

Charles Farrier never set out to be a small business owner. But one fateful day, a corporate potluck changed everything. “I was told to bring a dessert in. I brought a cheesecake in and everyone loved it,” he recalls. “And then everyone was like, ‘Oh my God, you should like, sell this.’”

At first, Charles was hesitant. But with the encouragement of a good friend, he started to see the possibilities. “We were talking about it one day. He said, well, maybe if you make them smaller, we can work with you and kind of see what we can do with this,” Charles shares. “I’m like, all right, let’s work. Let’s see what we can do.”

And so, Crumble & Whisk Patisserie was born. What started as a side project quickly turned into a thriving business, with Charles hustling to sell his cheesecakes to local businesses. “I used to sell my cheesecakes up and down the street that I’m actually on, to the barbershops and beauty shops for like $7 at the time,” he recalls. “That was the money that I saved to use to pay for all my permits and licensing.”

But as any small business owner knows, starting from scratch is no cakewalk. He continued to work to fund the business and saved what he could to fund the business piece by piece. That meant putting in the hard work and hustle, day in and day out. “I think a lot of people forget that, you know, we start from nothing and we have to basically start out there and grind and hustle,” he says. “And it’s like, if you don’t put the work in, you’re not going to get the reward.”

As Crumble & Whisk grew and gained a loyal following, Charles found himself facing new challenges. Managing schedules, tracking hours, and keeping an eye on labor costs was eating up more and more of his time and energy. He knew he needed a better solution – one that could help him streamline operations, save money, and get back to doing what he loved: crafting delectable desserts and creating unforgettable customer experiences.

Then he discovered Homebase.

One app to conquer every shift.

What makes Homebase so special? For Charles, it’s all about simplicity. “The reason why I like Homebase is because the platform is just easy to use. It’s very streamlined. And there’s no fuss. Your grandma can use it,” he says with a laugh.

With Homebase, Charles said goodbye to the headache of juggling multiple systems for scheduling, time tracking, and payroll. Everything he needs is right at his fingertips, in one user-friendly app. “What I like about Homebase is that you’re able to do everything at your fingertips. And you know, it’s so easy. It’s such a breeze. And I don’t have to think about it. I love it.”

He was able to post job listings, review resumes, and schedule interviews all in one place with Homebase for hiring. No more juggling multiple job boards or drowning in a sea of email applications. Just a streamlined, easy-to-use system that takes the pain out of the hiring process. “That’s actually how I found a lot of my team members,” Charles adds.

But Homebase isn’t just about making Charles’ life easier – it’s also about helping his team stay connected. “Homebase allows us to become more efficient with the job because I’m allowed to go in there and post notes and be able to send things to the team without me having to be here and let them know and give them updates of work performance, scheduling, tasks that they need to do for the day, while also allowing them to see everything at their fingertips,” he shares.

Real-time insights lead to real savings.

For Charles, one of the biggest benefits of using Homebase has been the ability to keep a close eye on his labor costs. “We’re in the process, we’re trying to get the work done, but we don’t realize that the time is slipping away from us, especially when you have employees and they’re using overtime or they don’t clock out on time, or they forget to use their break,” he explains. Features like break waivers not only help save small businesses money, but also helps save from the stress of legal problems in states like California where there are strict labor laws around breaks.. 

With real-time insights and notifications, Charles is able to stay on top of his expenses like never before. “I’m able to go in there and be able to say, ‘okay, you know, I’ve spent an extra hundred hours on labor costs, like where is this going? And so it allows you to go in there and just kind of like clean everything up and have candid conversations with your team,” Charles shares.

Armed with this information, Charles is able to make informed decisions about scheduling and budgeting and have honest conversations with his team about performance. “I can say, hey, this is what we spent on labor costs last week. This is what we need to spend. We need to really tighten up the budget so that you guys can get proper raises, you guys can get bonuses, things like that. We can’t use that if we have spent it all on overtime all the time,” he explains.

By using Homebase to keep track of his labor costs in real-time, Charles has been able to save money and reinvest it back into his business and his team. It’s a win-win for everyone involved.

Streamlined scheduling saves the day (and time)

Another game-changer for Charles has been the scheduling efficiency with Homebase. “Scheduling saves me a lot of time and makes my job more efficient so that I don’t have to do it all the time, while also allowing my team members to visually see everything at their fingertips,” Charles says.

Before Homebase, Charles was spending hours each week manually creating schedules and inputting time sheet data into his payroll system. But with Homebase, he’s been able to automate and streamline the entire process. “It just rolls over the timesheet to the payroll system and you just click one button. Instead of you having to sit there and manually input anything from their timesheet and manually write it down from another software,” he explains.

This has been a huge time-saver for Charles and has allowed him to focus on other aspects of running his business. “Homebase has been like a game changer… Homebase is great because you can do your scheduling and do your payroll all at one time. Where other companies, some companies don’t allow you to do that,” he shares.

With Homebase, Charles has been able to create scheduling efficiency and effectiveness that benefits both him and his team. It’s just one more way that Homebase is helping small businesses like Crumble & Whisk thrive.

The sweet taste of efficiency.

All this efficiency means Charles and the team at Crumble & Whisk are able to do more with less.

With the money he’s saved on labor costs, Charles has been able to invest in other areas of his business – like sourcing high-quality ingredients, developing new recipes, and creating a welcoming space for his customers. “Homebase allows us to become more efficient with the job,” he explains.

But it’s not just about the bottom line. By streamlining his operations and communication with Homebase, Charles has been able to foster a workplace that prioritizes teamwork and appreciation. Features like shift notes and announcements help keep everyone on the same page, even when Charles can’t be in the store.

“People don’t like it to be all negative,” he says. “So I try to have a little bit of a balance. And I can do that with Homebase and also with me telling them directly.” By using the platform to send messages of recognition and support, Charles is building a team that feels valued and invested in the success of the business.

The cherry on top.

At the end of the day, running a small business will always come with its challenges. But with the right tools in your arsenal, it can be a whole lot sweeter. For Charles and the team at Crumble & Whisk, Homebase has been the secret ingredient to streamlining operations, cutting costs, and building a thriving team workplace.

With Homebase, you can spend less time drowning in admin work and more time doing what you love – whether that’s whipping up delectable desserts or building a business that makes your community a little bit sweeter.

Take control of your time, your costs, and your sanity, give Homebase a try. Your future self (and your bottom line) will thank you. Trust us – it’s a recipe for success.

Loans can be your best friend when you are shopping for cars. They make vehicle purchases more feasible and affordable, but different people may qualify for different loan terms. Credit scores are one reason. For example, a higher credit score can lower your interest rates and reduce the amount of your monthly payment.

Approval

If you want a loan for a new CDJR for sale, your credit score determines whether you get approved at all. Fortunately, many people qualify.

However, if your score is low enough (under 575, generally), you might not qualify for a loan or only with lenders who deal in subprime loans.

Interest Rate

Lenders see people with higher credit scores as more likely to make their loan payments. Thus, they are less of a risk to lenders. The higher your credit score, the lower your interest rate should be, and the more money you should save over the life of your car loan.

If you have a lower credit score, you can make a car loan more affordable if you have the ability to wait a year or so before making the purchase. Use the time to keep your credit utilization ratio under 30%, pay past-due payments, apply for secured cards if necessary, and make all bill payments on time. A score of 680 or higher should get you the lowest interest rates.

Length of Loan, Loan Amount, and Fees

The better your credit is, the more flexibility you can expect to have in choosing a longer loan term. Similarly, you can usually qualify for higher loan amounts with a higher credit score. If your credit score is low, you may have to accept a shorter loan term and for a smaller amount.

Fees are another cost of car loans, and they can change based on your credit score. If you are a borrower with a lower credit score, you may have to pay higher loan origination fees, among other fees or charges.

Down Payment Amount

Lenders may not require you to put down as much money if you have a higher credit score. They feel more comfortable letting you do this since you have a history of making loan payments on time.

Financial experts recommend down payments of at least 10% to 20%, but you could put down less with many lenders if you have a sparkling credit score. Sometimes, lenders won’t even require a down payment. You would be paying more interest over the life of the loan, though, since the balance you owe is larger.

Monthly Payments

Your credit score, interest rate, and loan term determine your required monthly payment amount. You should expect lower monthly payments the better your credit score is.

Fortunately, you are probably not stuck with your original car loan if you steadily improve your credit score since taking out the loan. You can refinance a loan to get a better interest rate and other terms for a lower monthly payment. Refinancing does come with its own fees and other charges, though, so make sure the numbers come out in your favor.

Conclusion

If you manage your credit responsibly, you can make car ownership more affordable. Regardless of your credit score and loan terms, on-time payments may help you qualify for even better loan terms in the future.

5 Things to Keep in Mind While Choosing Invoicing Software

Are you looking for invoicing software but are not sure which one to go with? Well, even simple invoicing software comes in different shapes and sizes, and narrowing down the best invoice software for your business can get tricky. From formatting to templates, access control to data security, a lot of things come into the picture for any software related to finances. Invoicing is a crucial aspect of any business and managers need to be very careful with what they choose. Here are a few things to keep in mind while choosing invoicing software:

1. Look for customisationInvoices are never a one size fits all. Different clients require different formats and some industries require invoices to match certain operational standards. For example, if you are a business dealing with legal services, you will find that authorities require invoices dealing with legal services to have certain elements included within the invoice. These rules are different around the world, so make sure your chosen invoicing software offers you customisation.

Look for customisation not just within the invoice format and template but also for the branding, and overall look and feel of the invoice. If you do not want to send out clumsy-looking invoices to your clients, ensure you pick invoicing software that lets you add your logo, desired colour scheme etc.

    Also Read: A Guide to Choosing the Right Invoicing Template for Your Business

2. Multiple currency optionsThe best invoice software frees you from your scalability woes. In any business, currencies can prove to be a slightly restrictive aspect. Invoicing software online might just offer one kind of operational currency—a major drawback for most businesses. Or, today you might be managing business with just one currency, but tomorrow you may want to expand your business to other countries and deal in different currencies. Then, invoicing software offering multiple currency options will come in handy.

3. Data securityInvoicing software undoubtedly deals with very sensitive information at all levels of operations. In such a case, you need to be sure that your financial data and that of your clients are in safe hands. The best invoice generator should offer data storage on secure servers and backups. Further, look for invoicing software that offers access control so you can protect sensitive information within your business as well.

4. Cross-platform accessOne of the major benefits of invoicing software is the ease of use. As compared to complicated spreadsheets and templates, invoicing software is relatively easy to use and access. Therefore, the best invoice software should offer applications for different platforms and be accessible from anywhere at any time. This should include a desktop and mobile application at the least. Plus, it should be available on your operating system.

5. Tracking time and expensesWhile creating invoices, businesses sometimes need to take into account billable hours. In such situations, a time tracker proves useful in keeping a track of those billable hours. Operations become easy if your invoicing software can track time and generate invoices accordingly.

Further, a business is bound to make many transactions. These can be easily tracked and ordered with the right invoicing software.

    Also Read: Every Sole Trader Should Use These Free Invoice Software

6. Good customer supportInvoicing is one aspect of your business that you can never afford to be behind on. So, in case invoicing software crashes, you need a solid customer support channel to get you out of the trenches in a jiffy. Look for people you trust to help you when nothing on your system is working. Also, a good customer support team will help you in case of any data losses.

There you have it. Keep these things in mind when looking for the perfect invoicing software for your business and enjoy the benefits of an efficient invoicing system and data management.

My word for this week is PASSION.

What does the word make you think of? More importantly, how does it make you feel? Many successful business owners attribute their success to passion, a burning desire to do something great.

Passion is the driving force that moves us forward, even when the road is rocky, and the challenges seem insurmountable. In business, when our bodies say “no,” and our minds say, “definitely not,” passion is the voice in our heads that quietly whispers “Yes, you got this! Try it one more time.”

The one thing about passion, though, is that you either have it or you don’t. Feeding off other people’s passion is possible because it’s contagious, but passion itself is innate. That’s why, when I meet business owners who show sincere, authentic passion for what they do and who they are, I tell them, “You cannot squander this gift. Everything else you can learn, but the gift of passion can take you farther than you ever imagined.”

But passion alone isn’t enough. It needs to be nurtured and sustained. This means continually learning, adapting, and growing. Stay curious and open to new ideas, seek out opportunities for innovation, and never settle. Passion, combined with perseverance and a willingness to embrace change, is an incredibly powerful formula for success.

Take time this week to reflect on what ignites your passion. What about your business excites you and gets you out of bed in the morning? How can you harness that energy to overcome obstacles and achieve your goals?

Passion is the heart of our journey as business owners. Let it guide you, fuel you, and inspire you to do great things.

Now, go carpe diem today!

Davis Owens, from Hamilton County, Ohio, has been sentenced to prison for his involvement in disabling emissions control systems on diesel trucks in violation of the Clean Air Act.

Owens, 34, from Cleves, Ohio, will serve 30 days in prison, followed by seven months of home confinement and one year of supervised release.

Owens, the co-owner of Holderdown Performance and owner of Cincy Diesel Performance, pleaded guilty to aiding and abetting the tampering of a monitoring device required under the Clean Air Act. The sentencing follows his involvement in an aftermarket scheme to disable emissions control systems on heavy-duty diesel trucks, which significantly increases the release of harmful pollutants into the environment.

In 2020, Owens entered a Consent Agreement and Final Order (CAFO) with the Environmental Protection Agency (EPA). This agreement addressed allegations that he and Holderdown Performance knowingly bypassed or “defeated” emissions control components on diesel truck engines. Bypassing these controls can drastically increase the emission of pollutants, including particulate matter, nitrogen oxides, carbon monoxide, and non-methane hydrocarbons.

Despite agreeing to the CAFO terms, which included a $7,500 civil penalty and a commitment to cease manufacturing, selling, or installing defeat devices, Owens continued these illegal activities. Investigations revealed that he and Cincy Diesel Performance persisted in selling and installing defeat devices and emissions-deleting software until February 2022.

Assistant Attorney General Todd Kim of the Justice Department’s Environment and Natural Resources Division, alongside U.S. Attorney Kenneth L. Parker for the Southern District of Ohio, announced Owens’ sentencing. The EPA’s Criminal Investigation Division and the Ohio Attorney General’s Bureau of Criminal Investigations played crucial roles in investigating the case. Senior Trial Attorney Adam Cullman of the Environment and Natural Resources Division’s Environmental Crimes Section prosecuted the case.

Okay.. I am going to say sorry now for the long message but if I don’t get some help I am going to lose it.  I have had to go through all this 5 times now and hoping this is the last.  

I placed an order to upgrade a line on my account on May 12th.  

It was supposed to be delivered on May 14th.  But in the delivery process from UPS, the item was lost.  

I got no communication from Verizon AT ALL still to this day unless I call or chat.  The details of interaction is below and I am begging someone to help me get this resolved.  This whole situation is so ridiculous from a company that says they are about the customer.  I have been a customer for almost 17 years and I can tell you Verizon DOES NOT CARE about you. 

1.  Got notified on Morning of May 14th item was lost and UPS was notifying Verizon.

2. May 15th still no word, email, text nothing, so I got on chat(3 hours total time) while working and had chat on in background.  Was told my agent that they would create a ticket to have it worked through and that the next day someone would follow up from Verizon.

3. One May 16th I still hadn’t heard from anyone, as promised, so I called the customer service number and talked to an agent who apologized and swore he would resolve and I would be good.  That agent put in yet another ticket to have the order cleared out and cancelled so that I could order a new upgrade from scratch.  Waited on the phone on and off hold, while they ensured me this would fix things.  Then came back and said that they had to do yet another ticket to have the order cancelled and that he PROMISED to call me on Monday the 20th with an update.  I even got a text saying call back scheduled.

4.  And of course, on May 20th, no call was received by anyone from Verizon, so later that day, I called the customer service number again, and was on hold on and off for 2 hours and this agent said that the person before didn’t do something on the ticket they should so it still didn’t clear out.  Stated that he got with supervisor and cleared out the customer agreement, which would allow me to re order.  Told me to wait up to 3 hours and try again and I would be fine.

5. On May 22nd still not able to do anything as still stated order pending.  So got on chat as working and can’t stay on phone.  I literally was on chat and phone over the last week a total of about 8 hours and NO RESOLUTION or anything done.  Anyway, got back on chat yesterday and was told whoever cleared out the agreement was supposed to also update the eligibility date and didn’t so they did that while on chat with me and said in 3 hours it would clear and I would be fine.  Stated they knew my frustration with all the issues and no resolution and promised to stay on chat until it cleared out, etc. I literally  had it in background while working and kept checking to see if cleared out.  I have explained to each agent I talk to about my experience and they apologize and say they won’t do the same, but guess what……….. they do the same.   Anyway, the chat all the sudden , after 3 hours, cleared out and it pushed me to a new person that I yet again for the 5th time had to explain everything from the start and actually tell them where the last agent left off, instead of them reading notes and figuring it out.  So at the end of this 3 hours I was told I needed yet again another ticket to get the pending order cleared out and the agent before should have done but didn’t.  I was told again it would be 24 hours and someone would follow up.

NOW I have had 5 agents over a week make lots of promises that weren’t not kept and honestly don’t think they ever were going to follow up as once off the phone or chat none of the agents are held accountable.  I asked several time with each agent for a supervisor or a name of someone and a number and they continue to ignore me and not answer. 

Well low and behold the agent that SWORE because I basically told them that after the previous 4 agents telling me miss information and telling me they would follow up but didn’t that I had a hard time believing them saying they would follow up.  So I told them I would go but that I better hear from someone today, May 23rd and they kept swearing and promising they would follow up today.  Well guess what??????????/  I get text today from a verizon number stating it was the agent from yesterday now they aren’t in the office today and would NOT be following up with me today.  

SO  Starting on May 14th through today May 23rd, I have had 5 conversations with 5 different people, total of 6-7 hours between chat and phone, all initiated by me, that say they are fixing my issue but I sit here now with still NO RESOLUTION to my issue.  It’s not that hard.  I ordered an upgrade on a line and the carrier lost the package and now instead of anyone from Verizon calling or emailing me to update me or tell me next steps, I  HAVE HAD TO DO ALL THE REACHING OUT and still no ending.   I just need the order that went on our the 12th to be cancelled and cleared out so I can start over.. NOT HARD, or shouldn’t be anyway if anyone actually knew how to do their job.  How do 5 different agents for same company ,on an issue that is probably BAU, all say different things and each one finds another thing that should have been done that wasn’t?

I NEED resolution on this ASAP!  PLEASE HELP ME AS AT THE END OF MY ROPE!  There have been 3 tickets at least on this one issue and now the agent after basically hearing me cry because I was so frustrated, assure me she would call today, but then text and say sorry not calling.  BUT since they will never send to supervisor or give you info on how to escalate and they only give first name and no way to get back to them, they are not accountable to do anything they say, as you can’t get back to them anyway.  And they know that.  I am 100% over this situation and if not solved in the next 24 hours I will escalate and will make sure that all verizon customers know about this so that when they make a decision to join verizon they think twice.  This is not the first time I have had this same issue with customer service for different issues and I am OVER IT!   

Someone please respond to this and get this resolved.  I am at the end of my rope for sure.

Getting financing for your business is critical for growth and success. But, obtaining a loan without pledging collateral can be a daunting task. That’s where the rise of no-collateral business loans comes in. These loans allow entrepreneurs to access the funds they need. They do so without collateral, such as property or assets.

No collateral business loans are becoming popular due to their convenience and accessibility. They give entrepreneurs financial flexibility. It lets them launch new ventures, expand, or deal with expenses. Unlike traditional loans, no-collateral business loans don’t need collateral. Instead, they rely on the applicant’s credit, revenue potential, and business plan. This allows small business owners who may not have large assets to get still the funding they need.

In the digital age, applying for a no collateral business loan is easier than ever. Online lenders and fintech platforms have made the process simpler. They have made it quick and convenient. Entrepreneurs can now access many loan options. The options have low interest rates and flexible repayment terms. Are you a business owner needing financing? Exploring the world of no collateral business loans could be the game-changer you need.

The Traditional Lending System and the Need for Collateral

In the traditional lending system, collateral has always been a major requirement for securing business loans. Banks and lenders require borrowers to pledge assets such as property, equipment, or inventory as collateral. This collateral serves as security for the lender, reducing the risk of lending money.

Collateral-based loans have been the norm for many years. But, they often pose big challenges for small business owners. Not every entrepreneur has large assets to pledge as collateral, especially in the early stages of their business. This can limit their access to financing and impede their growth potential.

The Rise of No Collateral Business Loans

The rise of no collateral business loans has changed lending. They are a good option for entrepreneurs. They lack substantial assets to pledge as collateral. Online lenders offer these loans. They use technology to speed up lending. It assesses creditworthiness based on factors beyond collateral.

One key driver of the growth of no-collateral business loans is the digital transformation of the financial industry. Online lending platforms have made it easy to apply for loans. Entrepreneurs can apply from home without lots of paperwork or long approval processes. This access has opened new opportunities for small business owners. They were excluded from traditional lending.

Advantages of Collateral-Free Cash for Businesses

No-collateral business loans offer several advantages for small businesses. First, these loans give entrepreneurs financial flexibility. They can use it to pursue their business goals without needing collateral. This means that even early-stage businesses or those without many assets can access the funds they need. They use the money to start new ventures, expand, or deal with unexpected expenses.

Furthermore, the application process for no collateral business loans is often quick and convenient. Fintech platforms and online lenders have simplified the process. They let entrepreneurs submit their applications online and make a decision. This eliminates the need for much paperwork. It also reduces visits to banks or financial institutions.

Another advantage of collateral-free cash is its flexibility in repayment. Many online lenders offer flexible repayment options. Borrowers can select terms that match their cash flow and business needs. This flexibility can be crucial for small businesses. They may have revenue fluctuations or face seasonal cash flow variations.

Eligibility Criteria for No Collateral Business Loans

Collateral-free business loans are more accessible for entrepreneurs. However, they still have criteria that applicants must meet. The requirements vary by lender, but they include the applicant’s credit, revenue, and business plan.

Purpose of Getting an Online Business Loan

How Much Money You Need to Borrow

Age of Your Business

Business Federal Tax ID / EIN

Bank Statement (Recent 3 Months)

Business Credit Card Transaction Processing Statement (Recent 3 Months)

Lease Agreement

How Do You Get No Collateral Business Loans with Business Advance Lenders?

Obtaining no collateral business loans from Business Advance Lenders is a simple process that includes:

Online Loan Application: There are no application fees for hotel financing. Access the business loan application online 24/7 from anywhere and fill out your details. There is no need to fax your completed form; submit it online.

Instant Loan Approval Decision: Instant approval, no waiting! Once you submit your request for hotel financing, you will receive a fast decision on whether you are approved for funding.

Funds in 24 Hours: If you get hotel or motel funding, the money will be in your bank account within 24 business hours.

The Future of Collateral-Free Cash in Business Financing

No collateral business loans offer convenience, accessibility, and flexibility for entrepreneurs. The loans have online applications and competitive rates. They don’t need assets. They empower small business owners to launch ventures, expand, or handle expenses. The future looks promising, with technology improving access and processes. Embrace collateral-free loans for growth without risking personal assets.

How can you stand out from competitors? To attract customers you need to identify and promote an attention-getting competitive edge. Here’s how to do it. 

You need a competitive edge to get attention from customers  and to get them to buy from you instead of your competitors. But, how can you make your company seem different and more desirable than other businesses selling similar goods and services? Start by thinking like a customer.

A competitive edge is any factor that will make your company’s products or services seem more desirable than your competitors in your customer’s eyes. It can be something that’s a clear distinction, such as your store is the only place in your region that sells women’s shoes in sizes 11 and up. Or perhaps your family-owned restaurant has been serving the community longer than any other restaurant in the county.

But when there’s no such clear distinction, your competitive edge can be almost any feature or characteristic that will get customers’ attention and make them think of you in a favorable way.

For example, when my husband and I were on vacation in California, we stayed for a couple of nights near Old Fisherman’s Wharf in Monterey. The wharf is lined with restaurants, novelty shops, jewelry stores, and candy shops, all vying for the tourists’ attention and dollars. There are also places along the wharf where you can reserve whale watching and fishing trips.

Although the pedestrian walkway was filled with people on the two nights we went there for dinner, it was clear that crowds strolling along the street (or watching the harbor seals at the end of the wharf) didn’t turn into customers unless a business made themselves stand out in some way from all the rest. Businesses on the wharf were using a number of gimmicks to stand out and to woo passersby into their establishments.

Some of the buildings, for instance, were painted bright colors and sported colorful awnings. Many had sidewalk signs strategically placed a few feet into the walkway outside their front doors. A candy store had a machine operating in their window that continually stretched and twisted a huge wad of taffy to demonstrate how salt water taffy is made.

And then there were the restaurants. There were about a dozen restaurants on the wharf, all vying to attract the hungry and thirsty into their establishments. To lure diners away from their competitors, many of the restaurants had greeters standing outside their entrances offering passersby samples of food to taste. One (a restaurant we chose to eat at one evening) had a big picture window in front that let tourists see clear through to a large back window that had a great sunset view of the harbor and anchored sailboats. Another, at the end of the pier, had big signs promoting its rooftop viewing area where visitors could watch the harbor seals.

While the tactics the restaurants and shops along the wharf used to get attention and business from passersby may not work in other localities and for other types of businesses, what was key here, was that those establishments that seemed to be getting the most business had devised ways to stand out from other establishments, and by doing so, they gave themselves a competitive advantage.

What gives businesses a competitive edge?

We all know that great products and customer service set businesses apart. But, for the most part, those are only evident after a customer has made a purchase. The challenge, no matter what kind of business you run, is to find ways to stand out and attract those new customers to begin with.

For retailers trying to draw foot and auto traffic, visuals such as signs on your building bearing your logo and a slogan, sidewalk signs, unusual window displays, and brightly painted buildings can help – if local regulations permit. Signage on local delivery and service vehicles, sponsorship of children’s sports teams, and participation in the local chamber of commerce are other ways to make your business memorable to potential customers, and thereby give you an advantage. For products, packaging shape, color, and placement on aisles all are important ways to attract attention and build recognition for what you sell.

But getting attention is just the first step in developing a competitive advantage. To give your business a real edge, you need to connect your brand in some way to a real or perceived benefit that your customers want. In other words, having an emotional peg that will appeal to your customers.

Gleam toothpaste created a competitive edge for itself in the 1950s by singling out and hyping one of its ingredients – chlorophyll – and touting it as a miracle ingredient for people who couldn’t brush after every meal. The interesting thing was that chlorophyll was a common ingredient in other kinds of toothpaste on the market, too. But the others weren’t promoting it.

What will make your business a standout?

To help you find ways to distinguish what you sell from your competitors, we’ve put together a list of product and service features that could help distinguish you from your competitors.

Keep in mind that features, by themselves, are usually not benefits. They won’t create the kind of emotional pegs that nail sales. To turn a feature into a benefit, you need to express it in a way that matters to the customer. For example, the Swiffer division of P&G Brands offers consumers a variety of products for mopping and dusting. But they aren’t “selling” people on the idea of buying a mop or a duster. They’re selling the concept of making cleaning easier and having a dust-free home.

List of competitive advantages

The list of advantages below isn’t complete – no such list could ever be complete. Its purpose is to help you start thinking about what you sell in more creative ways. In reading through the list, remember that the factors you play up don’t necessarily have to be unique to you. They just need to be things that are important to your customers. Most of the items on the list below are features that should be expressed in a way that shows how the feature solves a problem or fills a need.

Location

Conveniently located in

Just minutes from

Overlooking the harbor

Easy access from

In the heart of town (for a small town)

Shop-from-home convenience

Cloud-based service works anywhere you are

24-hour-a-day Internet access

Plenty of parking

Performance

Faster

More precise

Easier to use

On time

Accurate

Flawless

Most reliable

Exceeds expectations

Top-rated

Outperforms

Best in class

Carefully tested

Physical Product Size

Biggest

Smallest

Fits conveniently in

Small enough to

Large enough to

Big enough to

The perfect size for

Fits all standard sizes

One size fits all

Custom fit

Sized to fit any budget

Fits all standard sizes

Lightweight for easy portability

Color

Brightly colored

Soft tones to fit in with

Sleek silver finish

Durability

Sturdy

Survives a drop from ___ feet

Stands up to

Strong

Long-lasting

Reusable

Won’t rust

Racoon-proof

Versatility

Fits any size

Multiple uses

Works in any temperature

Adored by young and old

Speed

Get the job done in minutes

Dries faster

On-demand access

Guaranteed delivery within one day

No-wait service

Accuracy

Accurate to within

Meets your specifications

Error-free

Ease of Use

Easy to use

No instructions needed

Step-by-step instructions included

Self-explanatory

Takes the effort out of ______

Effortless installation

Done for you

Worry-free

Customer Service

24-hour helpline

Professional support

Award-winning service

On-time arrival

30-day return policy – no questions asked

Personalization

Personalized attention

Personal advice

Custom-created for you

Customized to your specifications

Designed just for you

Specialization

Specially designed for

Perfect for

Created with the ___ industry in mind

For seafood lovers

Special features

Chemical-free

Odor-free

Wholesome ingredients

Locally sourced

Organic

Family recipe

Fully assembled

Wrinkle-free

Adjustable height

Bonded and insured

Expertise

Masters at

Internationally recognized

Talented team

Pioneers in

Seasoned professionals

Award-winning

Years of experience

Trustworthiness

Guaranteed

All work guaranteed

Backed by

Accredited by

Certified by

Praised by

Used by (names of customers)

Use your ingenuity

If you don’t see features in the list above that can help you distinguish your products or services from your competitors, what should you do? Create your own list. Make a list of all the features of your products or services and their benefits. Think about the ingredients as well as the finished product or service. Now put yourself if your customers’ shoes, and look at the list. Which things are important? What do you do, or what about your product could be perceived as being different and desirable? Those are the things to promote to get attention.

Cary, NC – Viably, a leading provider of innovative financial solutions for ecommerce, announces the appointment of Noa Gaziv as Chief Financial Officer and Brandon Ellison as Vice President of Sales. These strategic additions to Viably’s leadership team underscore Viably’s dedication to supporting the growth and success of ecommerce businesses and signify a pivotal move toward scaling expansion for the company.

With an expanding leadership team, Viably enhances its service and offers sellers additional financial resources to support the growth of their ecommerce businesses. Viably will continue to drive its people-first approach, with a greater focus on creating a financial experience for every seller that is more than paperwork and a transaction, but a growth partnership from the early days of selling to exit.  

About Noa Gaziv, CFO 

Noa Gaziv brings over 15 years of experience in the FinTech ecosystem to her new role as Chief Financial Officer at Viably. Prior to joining Viably, she held key leadership roles as CFO at a number of financial startups, both public and private. In her prior roles, Noa specialized in startups at growth phases, closing large funding rounds, and leading them to profitability.

Noa’s diverse expertise in financial management and growth, fundraising, operational processes, cash flow management, and more, has created a strong foundation from which to lead and deliver significant results. At Viably, she will streamline the journey toward the company’s  business and financial goals, as well as facilitate strategic decisions to achieve the rapid growth trajectory. 

About Brandon Ellison, VP of Sales 

Brandon Ellison brings nearly a decade of expertise in lending to his role as Vice President of Sales at Viably. Before joining Viably, Brandon held key sales leadership roles at two working capital companies, most recently as VP of Sales at Payability, where he led the company to record revenue achievements

Brandon’s deep understanding of a wide range of SMB-Mid Market financial solutions—from business loans and cash advances to invoice factoring and lines of credit—has enabled him to drive innovative sales strategies and deliver exceptional results in high-velocity sales environments. Brandon will build upon the company’s current momentum by driving new growth and increasing revenue, while offering best-in-class experiences to sellers.

“By extending our leadership team to include Noa and Brandon, Viably reaffirms its dedication to knowledge and experience for its customers,” said Doron Gordon, Founder and CEO of Viably. “As our company grows, so too does the expertise that we can offer our customers. Viably’s commitment to driving innovation and acting as a trailblazer for the ecommerce industry has never been stronger, and our people-first approach remains at the forefront of our mission. By expanding our leadership team, Viaby can continue to offer sellers a personalized approach to funding, while driving growth and establishing new resources for ecommerce entrepreneurs.” 

With increased leadership, Viably aims to establish an even greater presence in the ecommerce ecosystem for sellers and will continue to develop innovative solutions for ecommerce entrepreneurs, all backed by an unparalleled customer experience. 

About Viably

Viably is the complete financial solution to help ecommerce business owners extend their cash flow through funding. Ecommerce businesses often face marketing needs, inventory shortages, and seasonality which have a big impact on their cash flow. Viably utilizes a shop’s real-time sales data through integrations and connections with their banking and commerce tools to provide easy, immediate access to funding and banking products. To ensure that each ecommerce business is proactively supported in their financial growth, Viably continuously monitors cash flow through insights, recommendations, and trends, so that Amazon sellers always know where their business stands, and how they’ll pay for their next opportunity.Learn more at www.runviably.com

Building business credit is a crucial step for any small business owner looking to secure financing and establish a strong financial foundation. Unlike personal credit, which is tied to your Social Security number, business credit is linked to your business’s Employer Identification Number (EIN) and is a measure of your company’s creditworthiness. Here’s how to establish and improve your company’s credit to better your chances of getting funding and with better terms.

Establishing Business Credit: The Starting Line
Understanding the Difference Between Personal and Business Credit

As an entrepreneur, you’ll want to start building business credit early and the key to do that is understanding how it differs from personal credit. Your personal credit score is tied to your individual financial history, whereas a business credit score reflects the creditworthiness of your business entity. Small business owners often start with their personal credit to fund their business. However, establishing business credit can offer advantages such as better interest rates, higher credit limits, and reduced personal liability when considering business loans.

Register Your Business and Get an Employer Identification Number

To establish credit for your business, you must first set up your business structure. If you form a Limited Liability Company (LLC) or a corporation, your business becomes a separate legal entity with the ability to have a credit score. Ensure your business is registered with the IRS and obtain an Employer Identification Number (EIN), a nine-digit number that acts like a Social Security number for your business.

Open a Business Bank Account

A business bank account is fundamental to separating your personal finances from your business expenses. It also shows lenders and credit bureaus that your firm operates as a business.

Start with Vendor Credit

Trade credit, also known as vendor credit, is when a supplier allows your business to buy now and pay later. These trade lines can establish a credit history with manageable payment terms, contributing positively to your business credit score when reported to business credit bureaus like Dun & Bradstreet, Experian, and Equifax.

Fast-Tracking Your Business’s Credit Building
Establish Trade Lines with Companies That Report Credit

To build credit swiftly, work with suppliers and vendors that report your payment history to the major business credit reporting agencies. This is especially true for startups who have even less of an established credit rating. Not all companies do this, so it’s essential to choose those that do.

Consider a Credit Card

When you use a business credit card, it can be a tool for building your business’s credit profile, which can be beneficial for securing future loans and lines of credit at potentially better rates, but it may also affect your personal credit history.

Pay On Time or Early

On-time payments are critical for a good business credit score. Early payments can be even more beneficial, as some scoring models, such as the Dun & Bradstreet PAYDEX score, give higher scores for early payments.

Credit Reporting Agencies: The Beacons of Your Business Credit
Register with Dun & Bradstreet for a DUNS Number

To create a business credit file, you’ll need a DUNS number from Dun & Bradstreet, the most prominent business credit reporting agency. This number is essential for building your business credit profile and is often required by lenders and vendors.

Monitor Your Business Credit Report Regularly

Your business credit report contains information about your business credit history and is used by lenders to determine your creditworthiness. Monitoring your report allows you to ensure accuracy and track your progress in building your credit.

The Long Journey: How Long Does It Take to Build Business Credit?

Building a strong business credit score doesn’t happen overnight. Typically, it can take a year or more of establishing a credit history and making consistent, on-time payments to build a credit profile that will be attractive to banks/lenders.

The Role of Merchant Cash Advances in Business Financing
Alternative to Traditional Loans

Many small business owners turn to small business loans, but if you are just starting our and haven’t built enough business credit to be consider for an SBA loan then a merchant cash advances is a great solution to consider. MCAs offer a significant advantage as they provide funding based on a share of future revenue. As long as you have a business checking account and revenue of $8K or more, this is an excellent option.

Less Emphasis on Credit Scores

Merchant cash advances are not loans but are an advance against future earnings. Therefore, providers often place less emphasis on credit scores and more on your company’s cash flow, making them more accessible for new businesses.

Benefits and Risks of Merchant Cash Advances
Immediate Access to Capital

Merchant cash advances can provide rapid access to capital, often within a single business day, which is much faster than loans that can take weeks or months.

Daily Repayments

The repayments of a MCA are made daily so that they are smaller, and more manageable than a larger monthly payment which can also impact your business’s cash flow

No Impact on Business Credit Score

Merchant cash advances do not typically affect your business credit score since they are not considered a loan. However, they also don’t help build your credit profile as they are not reported to credit bureaus.

Conclusion: Why Build Business Credit?

Building business credit offers a myriad of benefits, from protecting personal credit to accessing better financing options. With a strong business credit score, you’ll have better leverage when it comes to negotiating terms and rates with providers and lenders. Although it requires patience and discipline, establishing a solid credit profile for your business is an invaluable investment in your business’s future.

For the small business owner, merchant cash advances can be a strategic funding option, especially in the early stages when building credit. They provide the necessary capital to grow without the constraints of bank loans or the need for a perfect credit score.

Remember, the path to a robust business credit is built on a foundation of responsible financial behavior, strategic planning, and a thorough understanding of how credit works. By following these steps and being mindful of your credit practices, you can set your business up for financial success.

*Repayment in this context describes the process of repurchasing a merchant cash advance. It does not describe the process of repaying a loan. MCAs are legally distinct from loan products.