Author: kevin

Is a Merchant Cash Advance Right For You: 10 Detailed Pros and Cons of Merchant Cash Advances

Broke? Business going downhill? Bills to the ceiling and feeling a bit overwhelmed? Well, merchant cash advances may just be right for you.

A merchant cash advance (MCA) is a method of receiving money for your business without applying for a traditional business loan. Good credit, bad credit, it doesn’t matter, so expect the funds to hit your account immediately once approved. Sounds perfect, right? Well, like all things, that depends.

Today, we’ll be showing you a few opportunities and obstacles you may face while getting this particular cash advance to help you figure out whether it’s right for you.

What is a Merchant Cash Advance?

A merchant cash advance is a type of funding for small businesses (aka “merchants”) that accept credit/debit card payments from their customers. After a small business applies and is approved for this advance, it can receive advances from merchant cash advance companies (e.g. Greenbox Capital, Rapid Finance, and OnDeck).

The merchant then has the option of repaying the credit in two ways: with the merchant’s consent, the advance company can take a percent of the merchant’s credit and debit card profits daily. Or, the company can withdraw funds from the merchant’s bank account on an agreed-upon schedule until the credit is repaid.

Cons

We’ll first start with the cons of merchant cash advances to help speed up your decision.

May Hurt Your Credit Score

You may think you got lucky by qualifying for this cash advance despite your less than stellar credit score; however, you may wish you didn’t once you check your score the next day. MCAs usually requires a background credit check, so if the inquiry results in a hard credit check, it may hurt your score.

No Federal Regulations

MCAs were created as commercial transactions, so they’re largely unregulated. Due to the lack of regulations, many lenders charge hefty interest fees.

So in the game of MCAs, nobody is looking out for you.

Loss of Autonomy Over Your Business

Although MCAs don’t use the same usury laws as other small business loans, some MCA lenders require business owners to agree to operate under their guidelines. For instance, they may authorize borrowers to give up vacation time until the loan is repaid.

Not Intended for New Businesses

Merchant cash advances are great for business owners who have on average $5,000 in credit card sales and have been running for at least 6 months. For instance, according to Nav, an app that helps business owners leverage and manage their financials, “businesses with $4,500 in monthly credit card sales and six months in business” can qualify for their merchant cash advance.

Thus, these cash advances aren’t intended for entrepreneurs who hope to use this advance to start their businesses.

Short-Term Solution That May Result In a Lengthy Issue

Most business owners are wary of merchant cash advances because of their notoriously high annual percentage rates (APRs). With annual borrowing cost and fees and interest included, expect to pay off around 40% to 350% depending on the lender, additional fees, amount of advance, how long it takes to pay off, and strength of business credit card payment history.

Paying off this loan may just worsen the financial position that your business is in by feeding your daily profits to advance companies and potentially putting your business into further debt.

However, just because cash advances aren’t right for you does not mean there aren’t alternatives. Check out our listicle on business loans for people with bad credit, and you might find just what you to need.

Pros

If you’re still here after reading through all the negatives of cash advances, then it may be the solution to all of your problems. To help you know for sure, here are all the great qualities of this short-term loan.

Qualify Even With Bad Credit

If you’ve been denied by every lender you can think of and have no other reasonable options, an MCA may be your saving grace. Credit requirements are pretty lenient with these types of advances, with many companies approving merchants with scores as low as 600.

Quick Access

Unlike a traditional loan, the turnaround time for merchant cash advances on average is 24-48 hours, so expect to receive the funds that your business needs almost immediately.

(Tip: For the application, you’ll need a few months’ worths of credit and bank statements, so gather those in preparation.)

Physical Collateral Isn’t Required

Quite a few small business funding companies require merchants to put up some sort of collateral, whether property or equipment, in the off chance that merchants can’t repay the loan.

However, MCAs allows small businesses to receive the funding they need without worrying about losing their prized possessions if things go downhill.

Flexible Repayment Options

As mentioned previously, merchant cash advances give a borrower the decision between when and how to repay their debt. While, at the same time, the repayment structure of these “loans” gives further breathing room to a merchant since it’s based upon the success of their business.

The repayment period usually last 3-12 months, so the more credit card sales a merchant has, the faster their debt will be repaid.

Avoid Firing Honest Employees

Nobody likes to fire a dedicated, well-to-do employee, and with an MCA, a small business owner won’t be forced to let go of any of their salespeople, customer service agents, etc. due to limited funds.

Herb’N Eden, an all-natural bath and beauty company, based in the Metro Atlanta area, has closed a $1.2M investment for business growth. Quinton and Terran Lewis founded Herb’N Eden in 2015 to bring natural skincare products to the forefront of the market. Mercantile Venture Capital led the investment with participation from The Core Venture Studio.

This new funding will amplify their efforts, enabling them to efficiently meet the demands of their rapidly growing clientele without sacrificing what makes them so successful: their all-natural therapeutic products.

“Through our tremendous growth, we still maintained the same formula and process of making our products,” says Terran Lewis. “We know Black-owned businesses face challenges around funding and equitable partnerships. For us, it was important we remain the majority owners and stay faithful to the tried-and-true process our supporters count on us for.”

Before receiving this funding, Herb’N Eden received remarkable success through grassroots efforts such as in-house marketing, hiring local workers for their warehouse and store, and maintaining the direction of the product development. Investors were attracted by their ability to sustain growth beyond the pandemic year while remaining risk-averse and prioritizing customer communications.

“From $260,000 in 2020 to $2.6M closing out 2021, during the pandemic, is remarkable,” said co-founder and managing partner at The Core Venture Studio James Harris, one of the lead investors. “Their ability to scale their company while strengthening their relationship with their loyal customers drove Core’s decision to invest in the Herb’N Eden team.”

Quinton Lewis notes that the pandemic tested their resiliency. Rather than stop business when orders were backed up for months, they overly communicated updates to customers. As a result, they were able to see sustainable growth.

“It’s amazing to see what we could accomplish in such a short amount of time,” says Quinton. “In two to five years, we hope to continue to scale our business with the resources and connections made while also investing into the dreams of other Black entrepreneurs.”  

Getting The IRS Phone Number and 6 Other Surefire Methods to Reach The IRS As a Small Business Owner

If you’re looking for the IRS phone number, it’s probably that time again.

Tax season, aka quarterly taxes for entrepreneurs, is the time we all dread: gathering our 1065s, 1040-ES, and other financial documents to answer questions that the government already knows. More than likely you’ll probably have some questions and concerns of your own and grow increasingly frustrated trying to reach the IRS.

But before you start ruminating about this tedious task, we have six simple and sure-fire tips to help you get your questions answered immediately.

Calling The IRS

“How often do I need to pay income taxes for my new business?” or “Do I need to keep receipts if I pay for things with my business account? These are just some of the most commonly asked questions by small business owners and calling the IRS may be the best chance you’ll get at having them answered.

Be sure to call the IRS at 800-829-1040 to reach a customer service representative. They’ll be available between the hours of 7 am and 7 pm local time Monday – Friday to help you resolve any issues you may have while filing your quarterly taxes.

(Warning: IRS wait times are higher than normal on Mondays and Tuesdays and during the end of regular tax season around April, so try to call on other days and get your taxes prepared weeks ahead of the deadline.)

Downloading the IRS2Go App

This app has been a godsend for me and my freelance writing peers who are waiting in anticipation to get our tax refunds. Knowing your refund status can with monthly budgeting, being up-to-date on processing delays, and also just mitigating any anxiety you have about receiving your refund.

All you’ll need is your SSN (Social Security Number), filing status (e.g. single, head of household, etc.), your exact refund amount.

The app is available for both IOS and Android users as well.

Check Your IRS Account

Pretty obvious, but when you’re running around and floundering, this idea can escape you. Accessing your IRS account can make countless information relevant to your taxes available to you, including your balance, your tax records, your previous addresses, your 5 years of payment history, and more.

The IRS has also partnered with ID.me to keep your information as secure as possible and to make creating an account as simple as possible, especially for those not as technologically inclined (i.e. myself). All you’ll need to do is enter an email address, create a strong password (check out our last listicle for tips on creating hacker-proof passwords), and check the terms of service and privacy policy boxes.

Follow The IRS on Social Media

Sometimes you need to get creative when trying to reach the IRS. Following the revenue service on social media is a great way to keep updated on new tax tips, deadlines, and even get your questions answered.

And if all else fails, tweeting or DMing them might be the best method to get answers to your questions. Nevertheless, do not share your personal information on public social media platforms.

Below is a list of all the IRS social media accounts:

Twitter – The IRS tweets daily through different social media accounts, geared towards their specific audiences.

• @IRSNews provides tax-related announcements and tax tips in English.
• @IRSenEspañol provides tax-related announcements and tax tips in Spanish.
• @IRStaxpros offers news and support for tax professionals.
• @RecruitmentIRS provides current leads on IRS employment opportunities.

Youtube – The IRS’s Youtube channel offers tax tips in English, Spanish, and American Sign Language.

Making an Appointment at Your Local IRS Office

Making an appointment at an IRS Taxpayer Assistance Center can save you time and effort of Googling your queries with no results.

You can call the IRS at  844-545-5640 to make an appointment and find a nearby center with this Contact Your Local Office tool.

When visiting a center, please come prepared with these items:

• Current government-issued photo identification,
• Social Security cards and/or ITIN numbers for members of their household, including spouse and dependents (if applicable) and
• Any IRS letters or notices received and related documents.
• A current mailing address,
• An email address and
• Bank account information, to receive payments or refunds by direct deposit.

Intuit Turbo Tax

Free and easy is the name of the game.

Intuit Turbo Tax has you covered for all your tax filing needs. Chat online with a tax representative or check out Turbo Tax’s blog to resolve any concerns you may have about the IRS, learn more about what you may need for filing quarterly taxes, and be reassured that you’ll have all the support you need with the click of a button.

Reaching out To Your Accountant

As a business owner, you may be your own accountant; however, having an actual accountant in this instance may be the thing to solve all your issues. When you need to get answers to your tax questions within a moment’s notice and are having trouble reaching an IRS representative, hiring an accountant will be the most efficient way to file your taxes.

And unlike contacting the IRS via social media, you can receive answers to all of your personal questions.

Miners: 6 Great Facts About Mining Cryptocurrency

Every wonder how to become a miner?

And no, not a miner that searches for precious jewels on land, but a miner that solves complex mathematical problems and is rewarded with free crypto gold? If so, you’re in the right place!

The Mining Practice

Though land mining and crypto mining share very few similarities, the comparison still holds. Crypto mining involves a lot of luck, being at the right place at the right time. While the machinery used by crypto miners, the rig, also shares the same name as those used by forty-niners.

However, we’re getting a little ahead of ourselves. Now, what is mining?

Mining is the practice of computers solving mathematical formulas to create new Bitcoin and other cryptocurrencies. The first coder to decipher each formula can authorize a transaction between a buyer and seller of crypto. In exchange for your hard work, you’ll be given a few tokens of this digital currency.

This practice also verifies transactions on the cryptocurrency network and adds them to the public ledger, known as the blockchain.

Blockchains

To understand a blockchain better, you can compare it to a database. A database is just a collection of information supporting a larger task. For instance, a payroll database keeps track of all the employees, their hours accrued, and their salaries. Likewise, a blockchain consists of large amounts of information under categories called blocks. These blocks are connected to more blocks, hence the name “blockchain.”

However, unlike an actual database, the information in a crypto ledger is not centralized. When Satoshi Nakamoto created Bitcoin (the first cryptocurrency), he wanted the network to be democratic, so the information is accessible to anyone who uses it.

Thus, once a miner completes and verifies a transaction, anyone within the crypto ecosystem can view his work.

….However, before completing a transaction, a miner must first complete a proof of work.

Proof of Work

Proof of Work (POW) is a consensus mechanism that prevents nefarious conduct within the network (e.g. “double-spending” or spending any crypto, including Ethereum, Bitcoin, and Dogecoin, twice.)

During the creation process for crypto, Nakamoto needed to develop a means of verifying transactions without involving a third party. He later utilized POW to help miners and other users come to a consensus on which transactions are valid.

How Does Proof of Work Work?

Every 10 minutes in the network, miners expend computational resources to submit valid blocks that are within the network’s regulations. To do so, miners need to first find a nonce (i.e. numbers used only once) before a block can be added to the chain.

(Little known fact: Proof of Work was originally created as a solution to spam email.)

The Cost of Mining

Mining is so expensive because competition has increased exponentially since the creation of Bitcoin in 2008 and high-performance computers are required to mine crypto.

At the same time, the amount of energy used to mine is huge, so you’ll see the cost immediately once you start mining, as well as at the end of each month on your energy bill.

Still, don’t let the cost deter you because the profit can potentially outweigh the cost. Look at Ishaan Thakur and his sister, Aanya, they both earn $30,000 a month mining crypto, and they’re not even out of highschool.

How You Can Start Mining

All you’ll need to mine crypto is a high-performance computer or a rig, a wallet to mine various types of cryptocurrencies, and once you’ve completed that, join a mining pool to increase your profit.

Mining Pools

Mining pools are groups of miners that maximize their mining capacity by combining resources. Profits accrued are usually distributed evenly amongst miners. Thus, these pools can allow for more money to be made with less effort.

5 Great Ways to Sell Photo Prints

After reading that title, you’re probably thinking, “who wants photo prints nowadays; print is dead!”

However, print is not dead, rather it’s a well-respected and cherished art form. For many having a physical, tangible piece of art is superior to that of digital. So selling your work can be an exciting and lucrative business venture. If you’ve been wondering how to sell prints as a photographer, then you’re in luck because I have all the advice you need to start your new business, including several platforms to sell your prints.

Words of Motivation

Types of Prints to Sell

………

Open vs. Limited Edition

Description of each

Pros and cons of each

Pricing Your Prints

Methods of Distribution

Where to Sell Your Prints

screenshot taken at 1:48am or 1:49am of Etsy photo prints

Leaders & Their 10 Best Qualities

Leaders aren’t born but made.

You’ve probably heard of a “born leader,” or someone who seems to have always possessed the qualities of a leader: magnetism, empathy, and modesty. However, a research study on twins has found that only one-third of the variance of leadership qualities is inherited.

Thus, you can gain leadership qualities over time or even improve upon the ones you already have, such as active listening skills, effective communication, and innovation.

Successful Leaders

Great leaders show these qualities daily to maintain their character and to set a standard for others in their lives:

Remain Focused

Through rain or shine, these individuals remain diligent and focused on their goals. If they somehow end up deviating from their goals, they always return to them and exceed their expectations when completing them.

Prioritize Personal Development

People like this see the value in change and try to change themselves for the better. This quality makes them more resilient, flexible, and open to feedback.

Consider Their Words

A quality like this greatly impacts a leader’s personal and professional life. Thus, leaders take effective communication seriously and often use active listening skills, and consider their choice of words and the effect they may have before speaking them.

Support Others

Successful leaders truly care about the people around them. They want their community to thrive and flourish, so they take their time to understand the issues at hand to make better decisions when trying to resolve them.

These people are also sounding boards, mentors, coaches, and support systems to the underprivileged individuals in their society. Leaders wear many hats, and they do so happily.

Foster Creativity

Rob Austin, a Harvard Business professor, and Lee Devin, a theater actor, and playwright said, “Whenever you have no blueprint to tell you in detail what to do, you must work artfully.”

Simply, leaders think outside of the box. When there is no plan, they develop one at a moment’s notice because they’re creatives: they’re ingenious, artful, and use what little they may have to make something great.

They’re Morally Sound

Leaders may not follow the status quo and may not believe in ethics (i.e. rules provided by society), but they believe in themselves and their understanding of what’s right and what’s wrong.

They govern themselves in a way that others recognize their morally sound character and use it as a standard to model their own behavior.

Recognize Unproductive Behaviors

Leaders are not taskmasters. However, they do prioritize productivity, so when they notice a pattern of inefficiency, they stop it immediately to remain on a path of progress.

Work Towards Innovation

Former President, Barack Obama once said, “The future rewards those who press on.”

This is to say that your present actions will have a positive effect on your future. Thus, to create a better world for posterity, leaders take advantage of the present moment to build and create amazing ideas, art, buildings, and more for coming generations.

Overcome Adversity

Leaders do not falter at the sight of pain or tragedy, instead, they learn from it and make themselves better as a result of it.

Take Their Role Seriously

These people do what they do because they take their jobs seriously. They don’t flounder when the time calls for them to act, but rather, they remain prepared for anything and everything that may come their way.

Stereotypes and stigmas are pervasive in many countries, including the U.S. The expected behaviors of black men are often fueled by these stereotypes, making it more difficult for black men to achieve success in education and the job market.

Throughout history, the stigmatizing of the black community, particularly men, has led to discrimination and deeply hurt black families. To fight racism, we must be aware of these stereotypes and how they harm American society as a whole. Here is a list of ten stigmas black men regularly face. A lot of these stereotypes have been portrayed by commercial media and news outlets. Since the inception of social media and many other options for people to get news, it has helped tremendously with the black male image.
 

1. Poverty 

Black men are disproportionately represented in media stories about unemployment and poverty. These images depict black men and women living in poor, urban areas rather than middle-class suburbs or more affluent communities.

These media stories portraying black men as living in poverty reinforce stereotypes and make it hard for the general public to identify with black males. Poverty is often depicted as a black family headed by an unemployed black male or a single mother struggling to make ends meet. While these images do not portray the reality of poverty in America, they dominate the media. 

2. Welfare Recipients

Another stereotype that permeates the media is a black man or woman who lives on public welfare, defrauding American taxpayers while remaining idle at home. While many people on welfare are blamed for their disadvantaged position, black men and women are portrayed more negatively.

Studies have continually proven that the media overestimates the number of black men living in poverty and receiving welfare. These miscalculations perpetuate the image of the idle black male sitting on the street corner, making it more difficult for those seeking legitimate employment and training opportunities. 

3. Drug Dealers and Users

 
Experts agree that the media perpetuates stereotypes of black men as drug dealers and users. Statistics show that black men are more likely than white men to be portrayed in drug stories in the network news.

These stigmas started in the 1980s and the 1990s. During this time, black men were described as drug dealers, crack victims and impoverished drug users. There is no correlation between these images and accurate data, and these images are harmful. 

4. Athletes

 
Black men are often stigmatized as being more athletic than people of other races. While there is some validity to this stereotype, the image it perpetuates can be harmful. While black people make up only about 13% of the population, approximately 75% of professional basketball players and 65% of professional football players are black.

The athlete stereotype may spread the negative image of blacks getting into college solely based on their sports ability and not on their academic merit. The stereotype can also harm black children as they are told that playing sports is the only way they can succeed in life. 

5. Criminals

 
The association between black males and the prison population or criminality is one of the most pervasive stigmas in the media. Black men are often disproportionally portrayed in films and television shows as criminals or prison inmates.

Unfortunately, individuals in society, including law enforcement officers, accept these stereotypes, and these beliefs influence how they treat black men and women. These stigmas often make it difficult for black men to receive equal treatment during the legal process.

6. Aggressive

 
Black men are overrepresented as aggressors and people of other races are underrepresented. White females are often portrayed as the victims of black males. Music videos and other entertainment forms may be showing untrue stereotypes of aggressive black men and mistreated white women.

These stigmas are harmful to children as it gives them unrealistic expectations regarding conflict resolution and intimate relationships. This stigma also makes individuals of other races unduly afraid of black men, leading to inappropriate treatment of black males in public.

7. Thugs/N Words

 
Many films and television shows portray black men as drug dealers, criminals, and con artists. These films often provide no social background and do not provide enough information on why black men are being portrayed in such a manner.

The depiction of black men as thugs fuels the stigma that black men are more aggressive and more likely to participate in illegal activities. This stigma can also influence the behavior of young black men, causing them to exhibit behaviors they see in the media. 

8. Absentee Fathers

Black men are often portrayed in the media as absent fathers. Black women are often depicted as single mothers with a bevy of children fathered by different men.

These stereotypes are not based on facts and may provide an unrealistic expectation that black women are prepared or able to handle parenthood alone. This stigma can also negatively impact the behavior of young black men, causing them to abandon their childcare responsibilities. 
 
The absent father stereotype is particularly harmful because it impacts future generations. Single motherhood is becoming normalized, and young men are being taught that being a good father is not important. 

9. Hip-Hop Culture

 
While there is a high percentage of black males in the hip hop industry, they are often overrepresented in media depictions of hip hop culture. This portrayal is ingrained in young people’s minds, which signals to them that the only chance they have to make money or be successful is as a rapper or hip hop artist. 

10. Uneducated

Black men are disproportionally portrayed in the media as uneducated. These stigmas are not only factually inaccurate, but they can also make it harder for the black community to attain educational achievement. Teachers and academic administrators may treat black students differently due to these stereotypes, making it harder for them to succeed in and out of the classroom. 

 
Check Out Black Top 10s
 
There are several stereotypes regarding black men that are portrayed in television, movies, literature and the media. Most of these stigmas are not based on reality and make it difficult for black men to experience equality in the workplace, education, and society.

Most of these stigmas are negative and fuel unhealthy stereotypes about the black community. If you want to view other information pertinent to the black community, visit blacktop10s.com. We have lists on a number of topics of interest to the black community, including money, music and politics. 

Gold Prices: 5 Best Steps to Sell Your Gold

Gold prices will always be volatile.

However, there is no doubt that gold will always be one of the most valuable things you can sell. It’s enticing, luxurious, and relatively scarce. To ensure that you don’t undersell this hot commodity, I’ll guide you on the best ways to sell your gold for a pretty penny.

Determine The Right Time to Sell For You

Selling your gold can be an emotional decision. If you’ve just inherited a prized family heirloom or been gifted gold from a beloved relative, consider whether the financial value is worth more than the sentimental value of your precious metal.

However, if your only reason for selling gold is to liquidate an investment, check out Monex’s spot prices to keep up-to-date on the value of your gold.

Whatever your reason for parting with this item, the right time to give up your gold is only when You deem it is.

Be Aware of The Types of Gold

When you’re selling gold, you’re likely going to come across a few unsavory types. They’ll deceive you into thinking your gold is worth less than it is, so they’ll gain more of a profit from the transaction.

This is where knowing your gold comes in.

Below are some of the few different types of gold:

• Bullion is a type of gold that comes in various shapes and sizes from both private and public mints. There’s a lot you can learn about bullion, but simply put, its value is inherent in the countless options investors can choose from in buying bullion. From coins to bars big or smile, bullion appeals to every buyer

• Numismatic (collectibles) and bullion golds are often used interchangeably, but it’s important to know the difference. While they both hold equal value, a numismatic is valuable due to the popularity of gold collecting that has arisen during inflation and political turmoil and the important history held in ancient coins.

• Sovereign mints also known as government mints often are legal tender and have an official value placed on them by a political entity.

• Private mints, on the other hand, are privately owned and made with their own branding, design, and metal content.

• Coins and rounds usually have a higher price point than bars.
• Bars are still worth a pretty penny since gold is measured by weight and bars are usually bought in larger weights.

Get a Quote

If you remember anything from this article, it’s GET A QUOTE. Please do this; it’ll save you time and effort that could be used elsewhere, like deciding where you want to invest your capital after selling your gold.

First, take it to a gold testing lab to have your gold tested for its purity.

The lab will then give you a report stating: the weight of your sample and its purity in percentage or karats.

Finally, here’s the fun part, you can determine the value of your own gold from the results with this quick and easy method provided by the Gem Society.

Or

If you rather someone do the work for you, you can find a trusted gold representative in-person or online. We recommend APMEX. This business is accredited by the Better Business Bureau (BBB) and has a quality A- rating.

Find a Trusted Buyer

As mentioned previously, there are many shady types in the gold buying game, finding a reputable buyer that you can trust is crucial in getting the money you deserve for your goal.

Here are the best ways to determine whether the person you’re working with is honest:

• Check if they’re accredited by the BBB. If they are, they’re probably in a good standing with the law.

• Look at reviews on them. Are the reviews good or bad? And most importantly, are the reviews legitimate. It’s easy for someone to write fake reviews to present themselves as reputable. One surefire way that shows whether the reviews are real is if all of them sound too good to be true, “X is amazing. I always work with him!” or “No matter what, X will give you the money you deserve for your gold jewelry.” Remember the saying that ‘you can’t please everyone,’ well if everyone’s satisfied in their reviews, then more than likely something is a bit off.

• Trust your gut, if something seems off about the buyer or their shop, be okay with walking away.

Learn How to Negotiate

First things first, know when to hold your ground. Always have a number (i.e. your walkaway number) that you won’t go below when selling your gold.

And with a walkaway number comes concessions, be willing to give up the number you hoped your gold would be sold for to ensure reciprocity. Meaning that to get something as a seller, you must be willing to give something up, so the buyer is willing to do the same for you.

And finally to get what you want from the other party, know who they are. If possible, research the buyer to understand their motives for buying your gold, so you both can reach an agreement.

7 Amazing Benefits of Riding An E-Bike As an Entrepreneur

The e-bike is the future, but…

But only if we, as entrepreneurs, establish it as the next best thing. The nature of an entrepreneur means that you’re usually a step ahead of the crowd and leading that crowd towards top-tier products. This job usually isn’t easy; you have to show your peers your unwavering belief in something before it has even landed.

However, e-bikes have made your job a whole lot easier since it’s easy to believe in a product such as this.

Increased Endorphins

E-bikes, like any exercise, increase your endorphins (i.e. your “happy feelings”) and as a hard-working, multi-tasking entrepreneur, you need all the positivity you can get to motivate you to do better and be better every day.

Enhanced Physical Health

It’s of the utmost importance to be in good physical shape to meet your goals as an entrepreneur. Look at Tyler Perry, he consistently produces great films, and I can bet that being in shape and incorporating an hour-long workout regime into his daily routine has helped him with his current success.

Being an entrepreneur means being at the top of the game, not just in business, but also in regards to your health.

Improved Mental Health

Not only does exercise give you that positive rush of endorphins, but it provides you with much-needed self-care to get your day started off right.

Louise Delagran, a writer, researcher, and former editor of Taking Charge of Your Health and Whole Systems Healing says that “Being in nature or even viewing scenes of nature, reduces anger, fear, and stress and increases pleasant feelings.”

Riding your e-bike to work or even recreationally in a park can prove to be one of the best things you can do to improve your mental health and have you feeling rejuvenated.

More Savings

If you’re a small business owner or just starting out as an entrepreneur, you, more than anybody else, know how important it is to save your money. Using an e-bike as a mode of transportation, not even as your sole mode of transportation, can help you save exponentially what you may have lost in the cost of gas (e.g. “most bikes cost less than a penny per mile to charge”) or the cost of public transportation.

Faster

Time is money. And being stuck in traffic, while commuting to work, is probably one of the worst things that can happen to you as an entrepreneur. You have meetings to attend and work to complete, so riding an e-bike will be a godsend will help you manage your time wisely and get what you need to get done.

An e-bike makes you both a driver and a pedestrian, so when traffic is heavy, you can switch into pedestrian mode and easily navigate out of the congested roadways and guarantee a fast and easy commute to work.

Alternative to Regular Bikes

You know that feeling you get when you’re riding a bike and you’re confronted with a massive hill? The feeling of insurmountable anxiety that rushes through you? Well, you can kiss that feeling goodbye, since e-bikes make climbing those hills and other tasks that are difficult on a regular bike a breeze.

E-bikes essentially have three additional parts: a motor, a display, and a battery. When you pedal, you choose the amount of assistance you want, ranging from eco to sport to turbo. Based on your decision, the motor increases from 125% to 300% without you having to put in any extra effort.

Environmental Benefits

We’ve all heard the horrors of greenhouse gases and how car emissions are slowly killing our planet. E-bikes support a better tomorrow since they “emit 40 to 140 times fewer pounds of greenhouse gases than a 30 mpg gas car.”

Discord Server: 5 Great Ways to Use Discord As a Free Marketing Tool

A Discord server can change the game for your business.

If you’re a millennial or a part of gen-z, then it’s true that the first thing that pops into your head when you think of Discord is gaming. Discord was made for gamers. However, over the past few years, this platform has served artists, musicians, business teams, political groups, and more, so Discord is more than a playground for gamers; it’s a platform to nurture various communities.

Today, I’ll be showing you how you can use a Discord server to market your business.

Discord In a Nutshell

Discord is a chat platform where anyone that has built a community (i.e. a channel) can engage. Once users have received an invite, they can join countless servers and interact with server members.

For instance, your employees can chat with one another and build stronger relationships or use the server to collaborate on company projects using Discord’s video and voice calling system.

Building Your Audience

You can use Discord for your business as a social platform to discuss various topics related to your brand and your target audience’s interests such as books, movies, games, or whatever you like.

And if you want to discuss more than one topic, just create a text channel, so your server can host a variety of discussions.

As word spreads and your Disorder server grows, so will your audience-base.

Interacting With a Company

Never before has a customer or fan had an opportunity to interact with those who shared similar interests with a company and with the company, itself. Customers will be allowed to share their thoughts, feelings, and ideas with their desired organization, so it’ll bring a whole new meaning to ‘building a relationship with your customers.’

While, as the owner, you will be gifted the opportunity to directly hear personal reviews and resolve any issues before they snowball into something worse, as with using slower systems like email.

Sharing Your Story

Putting a face to the company doesn’t only give your business character, but it gives your audience somebody to identify with and sympathize with when your business is going through hard times.

You can tell them:

• The history of your business and what motivated you to start it
• Who you are and any relevant details related to your brand
• Why you love doing what you do

However, be mindful not to share too many details of your life to your audience. Separating your personal life and business is crucial in succeeding as a business owner.

Giving Tips n’ Tricks to Your Audience

Are you a gumbo-making Creole chef in Louisiana, then share your best tips to making your recipes sumptuous. Are you a vegan animal activist in the Pacific North West, then educate your audience on rallies they can join and cruelty-free corporations they could buy from.

Interacting with your audience doesn’t just mean growing your audience, but it can mean supporting them and teaching them how to make their lives and the lives of others better.

Discovering Opportunities to Collaborate

While interacting with your channel members, you can also use your account to join other servers and meet like-minded individuals.

Finding these servers is as easy as just a Google search of black-owned business Discord servers or even chatting with members of your own servers.

From there you’ll meet people you can relate to, share your products with, and collaborate with for future business opportunities.

Success with Livestream gives some great tips on how to collaborate with other businesses: