Trump freezes regulations and the Wild, Wild West is back!
Since the election, the alternative lending space has been eager to see how the new President of the United States will handle regulations on the industry. With Section 1071 of Dodd-Frank, the CFPB was soon to place strong regulations on lenders and require them to submit detailed information on business loan applications that, some thought, could be used in a malicious manner.
Within the first week of the new presidency, President Trump freezes regulations, keeping the CFPB out of the small business finance space for now and possibly forever. Click here to read more.
More Revenue Streams Equals More Success
/in Tips /by adminWhat do your revenue streams look like? Many Americans tend to find one a job and stick to it. They get comfy in their secure paycheck and benefits and even if it’s not enough money to really live comfortably, they stick to it. Some get unstuck and find other ways to make money but often leave their current revenue stream to follow the gold of the new venture.
According to Grant Cardone, the key to his own success is kicking up the number of revenue streams and maintaining them all, even if some are just “drips” and others are like “fire hoses”. As long as they are all adding to the mix and not taking from, you’re on your way to success. Click here to read more.
Sales Stories That Work
/in Tips, Uncategorized /by adminUsing sales stories is straight out of Business Sales 101. Whether fact or fiction, salespeople are constantly throwing out sales stories from the moment they say hello to their final goodbye. Anything to get the sale, right? Well, according to Paul Andrew Smith, there is a science when using storytelling. He diverges from other, more common rules of thumb that say the key to storytelling is “the structure of a great story, or how to use emotion and surprise properly, or even how to deliver your story in front of an audience”. Smith claims that the most important part of telling sales stories is knowing when to tell it and picking the right story to tell. He did his research and has some solid advice. Click here to read more.
Boost Productivity with These Handy Tools
/in Tips /by adminWhat business owner isn’t looking to boost productivity? Most of us are so focused on our day-to-day business operations, we have no time to consider how to optimize our businesses. It’s no secret that having good time management and overall organization will help your bottom line but how do you get there? There are companies out there who’s sole purpose is to create ways to help you manage your time and organization. Taking the initiative to read this article and utilizing the tools they recommend might change the way you do business, making your life easier and helping to boost productivity. Click here for the details.
Think Big and Find Success – Grant Cardone
/in Tips /by adminGrant Cardone exemplifies the motto “think big and find success”. He is a best-selling author, an international speaker, CEO of 4 private companies, among other things, and apparently he doesn’t wash his Rolls Royce. Whether washing your own car is your thing or not, the idea Grant Cardone is trying to portray is use your time wisely. If you can pay someone else $20 to wash your car and you could use that hour to make $200 doing what you do best, it’s pretty obvious how you should be spending your time. Think big and find success. Click here for Grant Cardone’s thoughts.
Small Business Borrowing Up
/in News /by adminIt’s never a bad thing to hear that small business borrowing is up. Even with the uncertainty surrounding the new White House administration and the direction we’re headed, there are signs that small business borrowing will increase further this year, which will drive economic gains across the board. Click here to read more.
How Start-Ups Succeed
/in Uncategorized /by adminWant to know how start-ups succeed? The infamous Tony Robbins claims that instead of falling so passionately in love with your product, it’s falling in love with your customer that launches you on the road to success. He says most start-up business owners focus too heavily on perfecting their product and forget the importance of knowing their customer inside and out. Finding an “irresistible offer” doesn’t hurt either. Click here to read more about how start-ups succeed.
Goodbye Dodd Frank, You’re a “Disaster”
/in Uncategorized /by adminGoodbye Dodd Frank! Tight regulations put in place as a result of the 2008 crash have required firms to undergo a laundry list of new regulatory exams and cut back their lucrative investments. Regulations were a means to bounce back from the financial crisis but the Trump administration believes the Dodd Frank Act is a “disaster” and needs to be either scaled back significantly or completely rescinded. On Friday, it’s goodbye Dodd Frank and hello regulations relief across the board. Click here for more.
Trump’s First Executive Action Sends Shock Waves
/in News /by adminPresident Trump’s first executive action sends shock waves through the financial industry. By suspending the 0.25 percentage point premium rate cut for Federal Housing Administration-backed loans, Trump’s first executive action directly affects the Mutual Mortgage Insurance Fund, which is designed to bail out lenders if borrowers default on their mortgages. This was a surprising change since most expected the new president’s first actions to be focused on immigration and health care. Click here to read more.
New FCC Chairman on Our Side
/in News /by adminThe new FCC Chairman is on our side. On June 27, 2003, the FTC opened the National Do Not Call Registry to protect consumers from telemarketers and excessive robocalls. Since then, some ambulance-chasing lawyers (or “serial TCPA plaintiffs”) have tried to take advantage of the system, making business to consumer telemarketing a bit of a challenge. Some say the challenge is leaking over to the B2B sector, but with the new FCC chairman, Ajit Pai, we should expect some smooth sailing ahead. He has acknowledged the presence of the lawyers who are taking advantage of the system and has indicated his intent to protect businesses conducting necessary marketing efforts. Click here for more details.
Trump Freezes Regulations on Alternative Lending
/in News /by adminTrump freezes regulations and the Wild, Wild West is back!
Since the election, the alternative lending space has been eager to see how the new President of the United States will handle regulations on the industry. With Section 1071 of Dodd-Frank, the CFPB was soon to place strong regulations on lenders and require them to submit detailed information on business loan applications that, some thought, could be used in a malicious manner.
Within the first week of the new presidency, President Trump freezes regulations, keeping the CFPB out of the small business finance space for now and possibly forever. Click here to read more.