Start Your Own Consulting Business

One of the best home based business ideas, doing the rounds these days, is consulting. It brings a high degree of flexibility and you get to brush up your knowledge as well. This business can generate a great income, provided that you start off with your best foot forward.

What are the advantages of owning a home based consultancy business?

1) No bureaucracy – An inherent component of corporate life is done away with, when you work as a consultant. No fixed times, no need to report back to top rung people fin every matter and no politics. This eases a lot of stress.

2) Personal & Professional Freedom- For mothers whose priority is family, this is a great idea. By staying in touch with what they’ve learn as students, they can maintain a sharp mind and build a professional life, without stepping out of the home.

3) Burgeoning market- Consultants are very much in vogue right now, if you haven’t noticed. There are business consultants, finance consultants, research consultants and so on. In a company, consultants are an extension of the permanent staff and can give businessmen much input and insight. It’s not only corporate clients that are snapping up consultants, even individuals depend on them for a variety of reasons. It may be choosing the right investment portfolio or buying an insurance policy.

Do you have what it takes?

If you have worked in a professional capacity before, giving advice in an official capacity is probably no biggie. Even if you have never worked in an office environment, you can still be skilled in that department. Look at it this way- your mind is fresh and not swayed by corporate politics. That puts you at a good position to look at matters objectively, analyze problems and offer practical solutions. This sharing of knowledge and ideas will be beneficial to both the client and you. The trick here is to narrow your expertise so that you are well read and thorough with the subject matter, as opposed to a jack of all trades.

Basically, if you are qualified or experienced in a certain field, you can become a consultant. Qualifications don’t overshadow experience and vice versa- both will help your work in different ways. Some of us wrongly assume that a consultant is the crème de la crème but it isn’t necessarily so. Sometimes it’s not the most qualified or the most experienced or even the most knowledgeable people that become the best consultants. They are the ones that communicate well with their ideas and advice and earn the trust of the clients.

Where do you start?

If you have not had the chance to work in a company or get access to a relevant network, you should work harder to establish the business. Selling yourself comes with the territory. First make a list of the skills or talents and experiences that you have. It’ll show you what’s missing and what you need to acquire. Use your insight and common sense-they can be as effective as any educational qualification. Your background should act as a diving board for the type of consultancy you choose to do. Cultivate management skills; work on meeting deadlines and multitasking. Be sure to network extensively, so that your services get the recognition they deserve.

Multiple Financing

When it comes to looking for a loan, a borrower always seeks out the simplest and the quickest ways to lay his hands on one. Unfortunately, looking for banks and financial institutions that are offering both these attributes along with the loan is not always very easy. Busy professional schedules and harrowing urban lifestyles occupy much space and time leaving hardly a breather to do the research in the traditional manner. The internet emerges in such a situation as the perfect place to search for quick and easy loans, which turn out to be a bonus for now you can look for variants as well. In your search for business loan, now you can have the option of availing a multiple bank loan.

A multiple bank loan would be one that serves various purposes for you even when you simply have one particular requirement in mind. So, when you have small business finance in mind and suddenly find yourself facing a loan option that takes care of your other requirements as well, you know what multiple financing can do for you. Then again, sometimes there are times when you have more than one loan requirement and one particular bank cannot fulfill all of them. That’s when you can opt for availing loans from more than one bank or multiple banks.

Maintaining a business is a tough call and you have to take care of all the associated expenditures that are a part of your operations. Purchasing office equipment, paying salary to your employees and keeping a contingency fund for unexpected events are some examples of those associated expenditures. Working capital loan can take care of your everyday business expenditures while corporate loan sees to it that your business expenses are being taken care of for a particular period of time as agreed upon. Besides these, if you ever wish to expand your business by joining hands with other companies grow through a merger, you can avail consortium finance to realize your goal.

Not only will multiple bank financing offer you these loans in one single platter, you can even stretch your requirements further beyond this. You can even avail unsecured business loans, which entitles you to a loan amount of your choice without having to furnish any guarantee or security for the same. But that’s not all that’s part of the kitty as bad credit business loan [] is also up for grabs for those with a case of bad credit history. So whether you are a student, a tenant or just any other business aspirant, you can have your requirements fulfilled without any collateral to back you up.

Now if you are wondering where on earth you can find some bank to offer such beneficial finance options, the answer lies right in front of you. Internet, with its unbound potential in penetrating through all nooks and corners of the world has made it possible to disburse information swiftly and effectively. So all you need to do is search for banks and financial institutions offering multiple financing options online and you will come across more results than you had expected.

Financing Vehicles for Investment Properties

Many people decide to buy additional properties as investment opportunities and when the price is right you usually can’t go wrong. However, what is the best way to find money for this kind of investment. A second mortgage line of credit might be just the answer. If you already own a home then getting a second mortgage should be easy.

Many second mortgages will offer a credit line that you can keep coming back to in order to get money. At the website it notes that a second mortgage is tied into the equity in your current property. “In most cases the interest is tax deductible,” the site explains. “Money can be borrowed for home improvement, debt consolidation, financial investments, down payment on another property or car loans.” While not all companies offer the same thing, Canton is one example offering a fixed rate second mortgage that is as low as 8% and up to 125% financing. Second mortgages can also be called junior liens or subordinate mortgages explains Bryan Wilson, a financing consultant with BD Nationwide Mortgage.

Many investors and entrepreneurs use these cash-out investments often. “[They] will often use their properties available equity to provide them with capital for investment,” explains Atlas Mortgage Corp. “A real estate investor can take out a home equity loan or credit line on a currently owned property and then use the proceeds on another property.” Additionally, it is common for entrepreneurs to “mortgage their home’s equity with a second mortgage loan to provide them with start-up or operating capital for the business.”

One thing to certainly keep in mind is that second mortgages always have a higher risk factor and therefore higher rates. Interest rates can also fluctuate on a credit line in this case and it will often depend on how much of the equity is being used from the original property. “The less equity remaining after the second mortgage is recorded, the higher the interest rate,” reports the folks at Atlas Mortgage Corp.

Another important thing to remember when deciding on a home equity line of credit versus the traditional second mortgage loan is that a second mortgage provides you with a fixed amount of money repayable over a specific amount of time. If you need a set amount of money for a specific purpose to buy investment properties a second mortgage line of credit is definitely the way to go.

Business Consulting Certificate

In an era of job lay-offs and corporate cut-backs, employees are constantly seeking ways to show bosses that they bring a valued presence to the company. Continuing education is a sign of professionalism and a solid work ethic. However, traditional university programs can be lengthy and expensive. For people currently working as finance consultants, supply chain management consultants, strategic planning consultants, business associates, risk management consultants, financial analysts, or process improvement consultants, training courses in business consulting that result in a business consulting certificate can be a less expensive option that can be completed in less than six months.

These training courses can teach fundamentals and best practices in consulting in an online format that is flexible for those working full time. The curriculum content includes the models, processes, and formulas that have been proven as the most productive and efficient methods in business consulting. Systems and structures beneficial to the practice of business consulting, such as delivery models and structuring consulting assignments, are also covered. Other items like service line management and branding or client acquisition and retention may also be covered. While streamlining processes and increasing profits, consultants must maintain business ethics, so ethics considerations and guidelines are also taught. The courses culminate in a business consulting certificate.

The best training courses for a business consulting certificate are those taught by highly experienced consultants who have been successful in several areas of the business world. They can give practical examples, offer advice, and answer questions from the platform of education and experience combined. Most business consultants have areas of specialization. It is best if the course instructor has several of these instead of one highly focused one. In addition, international business experience is also beneficial in an increasingly global marketplace. Choosing a course should be based both on curriculum and instructor value.

At the conclusion of the class, students take the certification exam. Good training courses offer memorization aids to help with retaining information for the test and beyond. Some also provide study guides to increase first time passage rates. Passing the comprehensive exam results in a certification credential, such as CBC, or Certified Business Consultant. This can be added to business cards, resumes, and marketing materials, as well as being very impressive to bosses. For a continuing education program with the added benefit of a certification credential, these training courses are a valuable investment in the future.