Friday, April 11, 2008

Okay, Now What?

Once you ve selected the company of your choice, signed any agreements, received your kit and whatever training provided by your recruiter, what do you do next? That s where many people get stalled. What to do next.
As you probably realize, the home party business is mostly a woman s business. That s not to say that men don t do well in the business. They do. I once met a man who was a top seller for Avon. In my own sales group years ago, there was a gentleman whose average party was over $400 while the rest of the district had average party sales of only $285. His secret? He could tease with the woman at the party in an entirely different way than the women sales reps. could. Still, it remains a business of interest mostly to women. And sales, at least at parties held in the home, are usually to women as well. (One noted exception to this is in the cookware line. Typically, men have sold more cookware, although they often did that one-on-one and not to groups of women or couples.)
Some companies have a requirement that you hold a certain number of parties, home shows, demonstrations, or whatever their term for a group sale, within a certain amount of time. One plan required five parties in three weeks. Some have dollar quotas rather than requirements for a certain number of sales. Make sure you are aware of these particulars. If you have questions about them, contact your recruiter or your manager.
With your requirements in mind, you need to set out to begin building your business. Most companies suggest that one have a show in your own home first. This works for many people as an excellent way to launch the business. For others, this isn t a great idea.
Whether or not you do the first show in your home is certainly up to you, but there may be some benefits to doing so. First, you ll probably be more comfortable holding your first demonstration in the comfort of your own home. Secondly, if you are acting as the demonstrator and the hostess, you ll earn commissions for selling and free merchandise as a hostess. Any time you can get free merchandise, it s a good idea to do so. Having more merchandise to show means you ll sell more.
If asking your friends and relatives into your home for that first party is difficult, here s a suggestion. Tell your friends that you have signed up with XYZ Company as a home party consultant and that you want their opinions on the products and whether or not the business is something at which you can succeed. People feel flattered when approached in this way. They know you value their opinions.
In my years as a regional director and home party sales trainer, I discovered that prospecting was one of the most frightening things to new recruits. It shouldn t be.
Think of prospecting for gold. A prospector works for hours or days sifting through water and debris, hoping to find some gold hidden within. Prospecting for sales and recruits is similar to that, but not as discouraging.
The nice thing about all home parties is that they usually offer something free to the person who agrees to open up his/her home for the sales event. Each company offers different free packages, and knowing your own sales program is important.
They all offer some incentive to hostesses, though. So, rather than thinking that you are bothering your friends and relatives, know that you re developing a win-win situation. Your friend receives free or discounted merchandise for having a party in her home, and you receive commission for demonstrating products.
After you ve settled that matter in your own mind, that you re not begging for business, but offering an opportunity to get free merchandise, sit down at your desk or table with a tablet. Put numbers down the side of the page from one to 50. That s right, 50.
Now list each of your friends and relatives first. They ll be the first people you ll want to contact to ask to have a demonstration in their homes.
At this point, most people get anxious, thinking they don t know 50 people. But must of us do.
List people you know from church, from your child s school, from your work place, from your neighborhood. If you talk to the same bank teller each week, write her name down. Have a favorite hair stylist? Include her name. Even if you don t know the names of people with whom you come into contact on a regular basis, write them down anyway. Write down the lady who walks her poodle each day at the same time that you walk your terrier. If you are married, write down people you know at your spouse s work place. Soon you ll have a list of 50 people to contact.
If you ve sold before, or if you ve at least been through minimal training by your recruiter or manager, you ve probably been told to expect rejection. Rejection is a fact in any sales business, but you must not take it personally. There are lots of books and sales seminars that will give any number of no s to expect before receiving a yes. Having a list of 50 people will give you the opportunity to book a good number of shows before you get started.
In the home party business, a final no is a rarity. When your friends aren t interested in having a show in their home, you can often get them to collect orders and have a catalog show. If you can t interest them in having even a catalog show, you can usually talk them into studying your catalog and ordering something. A no to all of those suggestions is rare, indeed.
Okay, now that you have a list of prospects in front of you, you ll want to make sure the rest of the family is occupied while you make your calls. Even though you re working from home, you need to be professional.
Arm yourself with a smile (people can tell!), and have your sales programs and a booking calendar in front of you as you start dialing. Since you are beginning your prospecting with individuals you already know, don t feel awkward about telling them that you are new in the business. Don t feel badly about having to refer to your training notes or to your sales aides. Do, though, have answers for your friends when they ask what the benefits are to them for helping you start your business. And, when someone says yes, be sure to help her select a date right away. Start filling up that calendar!



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Wednesday, April 9, 2008

How Home Loans Work

Most of us understand the advantages of owning a home versus renting one. However, we also know that it would be extremely challenging to arrange for the finances without some help. And so we decide to borrow money from banks and mortgage lenders, in order to fulfil our dream of owning our homes. Here is a guide to help you understand basic concepts of home loans:
Mortgage: A mortgage is basically the pledging of property to a creditor as security for the payment of a debt (Webster). Essentially, when you take the loan, you agree to let the lender hold the title to your house until the debt is completely paid off. You are also empowering the lender to sell your house in case you can t make your mortgage payments.
Paying for your house includes arranging for the down payment, the mortgage payment (which consists of the principal, the interest, taxes, and insurance referred to as PITI), and closing costs.
Down payment: This is the lump sum you pay upfront you are required to pay some of the money for the house from your own savings. The greater the amount you can arrange for the down payment, the lesser the amount you have to borrow this translates to lower monthly instalments. Typically, you need to arrange at least 3 to 5 percent of the purchase price on your own.
Principal: The total amount of money that you are borrowing from the lender is referred to as the principal. Usually the principal is the cost of the house minus the share that you are paying (down payment).
Interest: Why would the lender bother to lend you money? To earn interest, of course. The interest is basically an amount over and above the borrowed amount, that you are paying to the lender in monthly instalments in addition to the principal you are returning. The interest rate is usually decided at the time of finalizing the mortgage arrangements it can be fixed or variable.
Taxes: You are required to pay property taxes the amount for this is often set-aside in an escrow account. What this means is that the money is placed in the hands of a third party until it is time to pay or certain conditions are met. A part of your property tax is added to your monthly mortgage payment. The amount is then held in escrow until it is due.
Insurance: Insurance can be of different types - hazard insurance (to protect against losses from fire, storms, theft), flood insurance (if you live in a flood risk zone), and then there is the private mortgage insurance or PMI that you will have to pay (if you have less than 20 percent equity in your home).
Closing Costs: Besides the above mentioned costs, you will have to arrange for closing costs. Closing costs include loan origination fee, discount points, appraisal fee, title search, title insurance, survey, taxes, deed-recording fee and credit report charges. These costs are also known as settlement costs .
Luke Ashworth writes for Accepted.co.uk, offering views on secured loans in the UK, visit www.accepted.co.uk today for advice on loans and remortgages, receive a quote within minutes.



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What Are Options Contracts

Options contracts provide you with the right, but not the obligation to buy or sell an asset for a price. Prior to an asset s maturity date or a pre-determined date you cannot buy or sell the asset.
In general one hundred shares of an underlying stock represents one options contract. Options contracts have two parties. The buyer called holder and the seller called writer. To exercise an options contract, the writer must fulfill the formalities in the contract by giving shares to a suitable party. In some cases where cash is used to settle an options contract the index security cannot be delivered. The option expires if not exercised, but the holder s losses are held to the money he put up to take up the option. Should the option expire no one can do any trading of the shares. The buyer benefits from this deal, but the writer suffers considerable loses unless the contract is covered.
The options contract has an asymmetrical payoff pattern similar to that of stocks. Commonly options contracts are used for leverage or protection. When used as leverage, the option gives the holder control over the equity in a smaller amount. Control is a mere fraction of the actual value of the shares. The difference of the amount saved can be wisely invested into more profitable ventures until the option is exercised.
The use of options provide good protection from the forceful price fluctuations in the market. They give you the right to hold the underlying stock at a pre-determined price for a specific duration. When the writing options for a security are not owned, the risk is minimized to the option premium. Not withstanding, the trading option s price is high if dealing on a percentage basis instead of trading the underlying stock.
Thanks for reading. If you found this article helpful you can get more information, options trading tips, and more articles on my website: http://www.learningoptionstrading.com



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Tuesday, April 8, 2008

Want to increase your credit limits? Follow these steps

Credit card is a convenient and cashless way to carry money. A single piece of plastic removes all hassles and provides great freebies for spending your own money. It s always great to have a good credit limit. The credit limit in simple terms, is the maximum amount you can spend using your credit card. If a small credit limit is the cause of your concern, don t worry anymore. Just follow these steps and get your credit limit increased.
The credit card issuers don t like to take risks with people who do not follow the terms and conditions properly. The first step towards increasing your credit limit should be to follow the credit card terms and conditions and stay within limits.
Credit card issuing companies do pay great attention to your credit history. If you have a good credit history chances are fair that you will have a good credit limit. If not, try to improve upon your credit history. Make your car loan, mortgage, personal loan or student loans repayment on time. This will give the necessary boost to your credit history and increase your credit limits.
Older credit cards are also a good instrument to increase credit history. The longer you stay with a credit card the better it will reflect on your credit history. It is not a good idea to close old and longstanding credit cards, one should repay all balances on them and keep them in good standing. This will get you the faith of credit card issuing companies, and help increase the credit limits.
An increase in credit limit by all means increases your purchasing capacity and puts more money at your disposal. But, this doesn t mean that you should squander away with the money. A credit card money is a loan and has to be repaid with interest. If you keep this fact in mind, and don t max out your credit cards, things will be great for you and your credit history. Act in this way and credit limit increases will follow you.



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