The Best Niches for Affiliate Marketing in 2020

Think back to last year in 2019 and ask yourself how you felt about the upcoming 2020 year. What were some of your goals?

Did those goals change as the new year arrived?

At this very moment, what do you desire to do the most in the world?

If you are constantly dreaming about traveling the world to explore fun countries full of culture and some of the world’s most exotic food, or simply desire to quit your job so that you can spend more time with your family, keep reading.

We are going to discuss the best niches for affiliate marketing, go over how to get started, and get you on the path to making those dreams your new reality.

What Is Affiliate Marketing?

In short, affiliate marketing is when brands pay you a small percentage of any sales that you help them make through your website. These sales are typically made through links (affiliate links) that are provided to you by the company.

Once you sign up to be an affiliate marketer for a brand, you can use the affiliate link they provide you with to share in blog posts or somewhere throughout your site as a clickable photo advertisement.

After a person clicks your link, you may get paid a small fee. If a person buys something after clicking your affiliate link, you will get compensated for leading that person to the brand and assisting in making that particular sale.

That was just a quick breakdown of what affiliate marketing is, but there is so much more to learn. Check out this beginner’s guide for more information on affiliate marketing and how to get started.

Get your Google Analytics Right

This year a new tool called We Can Track was launched. After easy installation they enable you to integrate all your affiliate commissions into Google Analytics, Ads, Data Studio or even Facebook Ads automatically. This will enable you to make more money and optimize for the right keywords, content, pages and traffic sources.

Best Niches for Affiliate Marketing

A niche is a chosen genre of topics you choose to discuss on your website.

You may be wondering how a small compensation fee from helping a brand make one sale could ever help you make those dreams of yours a reality. But, you have to think much bigger than just one person.

Think about all of the times you may have clicked a link you’ve seen on a website to purchase something because of how great a review was. Or, just because you realized that item could actually be beneficial to you.

Now, think about the thousands of people who have done that.

You get paid for every single purchase made from those clicks- from thousands of people! Each click and sale adds up, and that could mean a ton of money to support your dreams.

That’s why it is very important to choose the right niche so that you can drive more traffic to your affiliate links.

Here are just a few of the most popular niches for 2020.

Health and Fitness

Every year, some of the most popular new year’s resolutions come from people who wish to get healthy and fit.

And, with viruses such as the coronavirus spreading around the world, more and more people are searching for health-related topics on the internet.

If you have a niche in health and fitness, you are guaranteed to have traffic come to your website, and almost guaranteed to make sales from such traffic using your affiliate links.

Finance

Everyone wants to get rich right? Or, at least live a more comfortable life.

A niche in finances such as how to get out of debt, start your own business, or make money online is a sure-fire way to get the clicks you need on your affiliate links.

Self-Help

Self-help is a market that is very popular because people are always trying to improve themselves in some way.

You may not draw everyone in through the fitness route, but if you can assist them with their mental or emotional health in some way, you will definitely have tons of people flock to your site, and use your affiliate links.

Stop Dreaming and Act

Daydreaming has its emotional benefits, but its time to stop dreaming and start making decisions that will help you in the long-term.

Get started with one of these suggested best niches for affiliate marketing, or research other profitable niches.

Affiliate marketing has so much to offer you in terms of financial freedom, but nothing will happen overnight. That’s why its important to get started now so that you can set yourself up for long-term success in the future.

Act now!

Check out our site for more helpful articles like this one.

Your Business Needs Its Own Credit: Why Establishing Business Credit Is a Must

Are you planning to borrow money for your business in the future? You might be surprised by your terms if you haven’t worked on building the credit for your business yet.

Most people know about their personal credit score. Unfortunately, the same isn’t true for business. An estimated 45% of business owners don’t know that their company has a credit score.

If you think that establishing business credit doesn’t matter for your company, think again. Below are four reasons why building credit for your business is worth the effort.

Get Better Interest Rates

The last thing you want is to get a loan and end up paying a lot of money in interest. If you have poor credit, that’s what will happen to you. You might be stuck with short loan terms to get better rates.

Having excellent credit means you can get better interest rates for your loans. You can go for long-term loans and not have to worry about paying a ton of money because of interest.

Don’t Prepay for Items

If you don’t have solid credit, it’s hard for lenders and vendors to give you money without anything upfront. This can lead to large upfront payments that you might not be able to afford.

Having high credit for your business can help you avoid these upfront payments. You can get your loan or products ahead of time and pay for it in the future.

Get Better Payment Terms

A lot of vendors don’t require you to pay for your products right away. Many of them have net 15 and net 30 terms. These terms mean you have time before you need to pay for your product.

If you have bad credit, you won’t have great terms with your vendors. Having excellent business credit means that your business has proven that it can pay on time. If a vendor sees this, they’re more likely to give you better payment terms.

Doing this means you don’t need to tie up your money buying product. You can focus on purchasing other items and pay for them at a later date.

Avoid Personal Liability

It’s going to be hard to find someone to trust a business that has no credit. This can cause problems if you need more money to expand.

If you’re in this situation, you aren’t out of luck. The problem is that you’re going to be guaranteeing your lenders personally. By keeping your business credit high, you won’t need to mix your personal and business liabilities.

Establishing Business Credit Is Worth It

You need every advantage you can get when it comes to your business finances. Establishing business credit is one of the best things you can do if you’re looking to get better deals. Make sure you start working on it today, so it’s ready in the future when you need it.

Are you looking for ways to improve the finances of your business? Head back to our blog to read our latest tips that will help you get your budget under control.

Reasons to Use Technology Tools for Your Business

Technology is the key to success for any business. Technology gives businesses the opportunity to be more efficient with daily operations while expanding their market to reach different target audiences. The Internet gives people the ability to connect with anyone anywhere across the globe and is the perfect tool for growing businesses. For example, if you live in the United States you can showcase your products or services to people in Canada or Europe through your website. People all over the world use the Internet to find the products or services they need and either buy the product online or find a store in their local area. Successful businesses use websites to connect with their customers and use their expanded market to increase the growth of their business.

The biggest advantage a business can have is a website. Products and services can be viewed by potential customers and is cheaper than the traditional print media. Print advertisements and newspapers have only a small amount of space to promote businesses and can be considered a passive sales tool. Websites have no limits to the amount of information that a business can provide. They can gather information from every visit and tell you where the visitors are located and what their thoughts are about the products and services on your website. This information can be used to contact these visitors and provide them with information about new products and services and also a monthly newsletter. If you add a website address to any print media that you use you increase the effectiveness of your ad and also create additional opportunities for customers to stay in touch and even help to close a sale. Also don’t overlook SEO, social media and writing powerful blog posts to bring visitors to your site.

Websites can also be used to enhance customer service. Visitors can access information about your business such as hours of operation, your address, pricing, detailed product information, special events and even if you have a mobile phone card reader. When you add an FAQ or Frequently Asked Questions section to your website you can decrease the amount of calls your business may get about where you are located or when you are open. Websites can save time and money and gives you the opportunity to focus on other important aspects of your business.

Recent studies have proven that more businesses are creating websites because of the many advantages they present. Most people search online for anything they need including products and services and read as much as they can about that product or service before they make a decision to buy it. Competitors are already selling online and have been for years. You can get ahead of the competition by having a website that provides all the information your customers need and makes your business stand out in the crown. You need to get an edge on your competition in order for your business to be successful.

It can be very exciting creating a website because you get the opportunity to express yourself by deciding how you want your website to look and what you want it to say about your company. You have the opportunity to show all of your products or services and any offers or promotions you have.

What is Invoice Financing and is it the Right Choice for My Business?

Invoice financing may be an option for you if your business is in a cash crunch, yet a surprising number of people don’t know much about this financing option. There are some cases when invoice financing is a much better solution than traditional lending and should be considered if you have immediate needs. Let’s learn more about what invoice financing is along with its benefits. We’ll then share a few tips for determining whether or not invoice financing is the right choice for your business.

What Is Invoice Financing?

Invoice financing is when you borrow money against a customer invoice. You may sell the collection rights to the invoice altogether, or you may borrow money from the invoice financing firm while promising to repay the loan as the client pays you. Invoice financing is also called accounts receivable financing and A/R financing.

Invoice factoring is a form of invoice financing. With invoice factoring, you’re selling your invoices to the factoring company. You’ll sign a contract giving them the rights to pursue the money you’re owed. With invoice financing, you receive the loan from the invoice financing firm, but your clients continue to only deal with you. One of the benefits of invoice financing is that your clients don’t know that you’re experiencing revenue problems, though that’s not the only benefit.

The Benefits of Invoice Financing

Invoice financing doesn’t depend on your credit. Instead, it depends on the creditworthiness of your customers. That means a business on the edge of bankruptcy will pay the same fee for invoice financing as a business with good credit.

Invoice financing can give you capital that is currently locked up in payables so you can pay your own bills. Then your own cash flow isn’t crimped by big businesses taking their time to pay what they owe you.

You have greater flexibility with invoice financing than other options. For example, you can choose which invoices to borrow against. And you can choose when you borrow against the invoice’s value. This gives you more control over your cash flow.

Your personal and business credit isn’t affected if the customer doesn’t pay their bills. Furthermore, the rates you’re charged are not affected by your credit score or bill payment history.

You don’t have to mortgage your home or business to raise much needed money. And invoice financing is an option if you have slow-paying clients but no other assets. For example, invoice financing is an option for marketing firms, law firms and consultants who only sell their services.

What You Need to Know Before You Apply

With invoice financing, you can get anywhere from 50 to 95 percent of the invoice amount. This percentage will depend on how old the invoice is, the creditworthiness of the customer and the general odds of the invoice being paid in part or in full. However, costs and terms of invoice financing vary between service providers. For example, lenders like Advanced Point Capital offer a variety of options. They generally require you to have a set amount a month in accounts receivable, however, they might make an exception. So, don’t hesitate to try even if you don’t think your business meets the minimal requirements.

Conclusion

Invoice financing is an under-utilized financial option for small and mid-sized businesses, and It has a number of benefits that you can’t afford to ignore. Make sure that you consider it and see if it would be the best option for your situation.

Unsecured Business Loan Vs Secured Business Loan

If you are one of those smart people who have finally made it to the entrepreneur level, you must have found that it’s not easy. It requires a lot of tough decision making. From the type of business to production methods, hiring and firing there are a thousand matters to be resolved. In all the hype you cannot just forget finance. This is because it is the crux that holds your business together. You need it to keep your business running. But most businesses usually do not have enough capital to self-finance so they have to borrow. And the best and most common way to borrow is through loans.

However, borrowing itself is a complex decision. This is because the vast array of options makes it quite confusing especially for those new it. You can easily make the wrong choice and end up with a loan not suitable for you. So if you are thinking of applying for a loan to finance your business you must learn the basics. You have to at least contemplate the different options available such as unsecured business loans and secured business loans. That is why we have compiled a guide that can help you differentiate between these two major types. You can then easily decide the optimal one for your business.

What are secured business loans and unsecured business loans?

You must have often heard lenders and Funding Option teams mentioning ‘security’ for loans. You might not have understood it before. But it is a simple idea. It is a crucial thing that distinguishes between secured and unsecured business finance. So we will first look at what these loans truly are:

Secured business loans

These loans are backed by security. This in simple layman language means, that they are guaranteed by some valuable items belonging to your business. These lending are called are secured because the items that you have presented as collateral, act as a security if you fail to pay back. These loans are also known as asset-backed finance as they cannot occur without the support of business assets. These assets usually are tangible things such as property, vehicles, machinery, etc. But these loans can be complex as well. They can be secured through accounts receivable which are known as invoice financing. There are other lending options in it as well such as merchant cash advances that base security on terminal sales.

Unsecured loans

By contrast, unsecured financing has no backed asset. They have a high risk for lenders as they get no guarantee in cases when borrowers defraud them or get bankrupt. They cannot get their money back as they won’t have any collateral to assist it. But these generally have higher interest attached to them to make up for the higher risk. Moreover, these also tend to finance small sums and for a short period so that lenders can be relieved. This is common with mainstream banks who do offer unsecured loans but not above £40,000. Additionally, they are only given to a business with a good history! Gauging the profitability of the business and their payback history, lenders decide whether they should give such loans or not. Sometimes these loans are even based on multiples of turnover based on recent and anticipated financial performance. This acts as hypothetic security. Last but not least as there is more burden on the givers they don’t prefer such unsecured transaction thus you won’t find many willing lenders as well!

The differences between the two:

You can see the obvious difference between the definitions stated above. But there are other distinct features as well. We have formed a table to make it easier for you to compare them:

 

DifferenceUnsecured business loansSecured business loans
Backed byBusiness’s trading positionAssets
RiskHighLow
Time periodShort termLong run
AmountSmall sums of moneyLarge sums of money
RequirementsCredit checksGuaranteed Assets
FeasibilityLowHigh
Approval timeMoreLess
Legal requirementsLowHigh

 

The optimal choice for your business:

As we all know there is not a perfect finance solution for all businesses. As all businesses are different and have varying needs, they cannot expect to use the same type of finance. Even an individual organization cannot use the same type of finance to fulfill all their needs. So there has to be an optimal balance between the two. The right choice will depend not only on your preference but also on various factors. Sometimes you won’t even get the choice of unsecured loans because of your credit history. Most unsecured loans are only given to firms with good cash flow. So if you are a startup this would be very difficult to achieve. Your only remaining option will be secured loans then. In other cases, you won’t have any assets to give as a guarantee, so you will have to bear the high costs of unsecured loans. Moreover, you should also keep in mind the period, amount and purpose you require the loan for. This is necessary because even when you have both options available you will find on more superior over the other based on overall feasibility. For example, you already have too many secured loans on your profile, its best to balance the portfolio with an unsecured loan. If the amount is small and the purpose it is required is short-term then it will be easy to attain and repay them. Even though the cost may be high but it will free you from both the legal hassle and asset requirement.

However, if you require large amounts for longer periods, you will find it difficult and very expensive to find lenders willing to provide unsecured finance. Normally it will require a lot of time as well. No one is ready to take such high risk without background checks. You will have to provide business information like financial performance, and prospective financial statements. Credit checks will also be undertaken which can be bureaucratic and can lead to disapproval in the end. From the lenders’ point of view, the candidates for such loans are only limited. This is because they only prefer a business with extensive trading history, growth potential, and strong financial statements that reflect affordability to payback for such schemes. Unfortunately, this all makes it difficult for early-stage and medium enterprises to prove their worth to gain such loans. So in such cases, it is best to opt for secured loans if you have assets available.

Conclusion

The bottom line is with an increase in loan finance, it is necessary to be cautious. As small and medium-sized enterprise provides the banking sector with $70 billion worth of lending opportunities, they should also benefit from this lending themselves. For this, all business including yours, have to be perfectly knowledgeable to make the right decision. You cannot just rely on one type of finance. You will have to find the optimal one and for that, you have to compare your options. We hope we prove to be helpful here and now you would be able to weigh up the pros and cons of each loan according to the situation!

Tips for Improving Business Presentations

Most business professionals will find themselves giving a presentation at some point in their careers. For some, presentations are a routine experience. Whether it’s a one-off experience or done on a regular basis, giving a business presentation requires the ability to successfully share insights and information to an audience of people. Failing to do so can result in time wasted, lost sales, or worse.

With this in mind, let’s take a look at some of the best ways to improve the potential of business presentations: 

Tell a story

The best way to keep an audience engaged in what you’re saying is to tell them a story. More importantly, it’s got to be an interesting story. Take a look at the information you’re presenting and identify the main characters, the conflict, and how the two interact. Make that the focus of your presentation. What’s more, take the audience on a journey from point A to point B, wherein the characters have undergone change and transition. Introduce problems and provide solutions for solving them. Storytelling is a timeless method of making people interested in what you have to say, making it a go-to technique for transforming a presentation into an adventure.

Show instead of tell

Most people assume a good presentation hinges on what they have to say. However, more emphasis should be put on what they show their audience. For example, rather than explain how a competitor’s website is better optimized for sales, use a capture web page tool to have it available to view when you need it. By accessing the site pages during your presentation, you’re able to show your audience exactly what you’re trying to get across. The findings can be supplemented by your narration, rather than the other way around.

Take advantage of technology

Storytelling has often benefited from advances in technology. For example, the development of photography ushered in the age of motion pictures, which remains the premier method of telling stories to modern audiences. With this in mind, harness the power of technology for your presentation. While your budget probably doesn’t have room for movie production, consider whiteboard animation as a means of providing your audience with a fun little video showcasing the story you’re trying to tell them.

Know your audience

The best live performers are those who can read their audience and act accordingly. What works for one group of people might not succeed with another. Use this to your advantage when preparing your presentation. Does the audience consist of coworkers who know you personally? If so, feel free to insert inside jokes into your presentation. Is it going to be executives from out-of-town? If so, you might want to stick to family-friendly forms of breaking the ice.

Prepare to answer questions

Many people tasked with giving a business presentation make it their mission to explain everything they can, in order to prevent members of the audience from having to ask questions. Not only is this impractical, but it also inhibits an organic form of audience engagement that presenters can use to their advantage. Rather than try and cover every base, engineer your presentation to lead to specific questions, and prepare your answers ahead of time. In the event nobody asks the questions you planned to answer, include the information as a postscript afterthought before concluding your presentation.

Presentations are the fact of life for most business professionals. Even if they’re only an occasional responsibility of yours, the stakes involved typically call for giving it your best. By taking steps to improve the power of your presentation, you’re more likely to reach the goal you’ve set out to achieve.

4 Jobs that Allow You to Make Your Own Schedule

Sometimes you don’t want a typical 9-5 job. Even with modern HR departments and their fancy—and admittedly highly effective—HR platforms, you might not want to deal with the stress of the classic hiring process. All those phone calls, interviews, and drug tests. 

You would like the freedom to pursue your own passions and your life outside of work, but also want work that is fulfilling. Maybe you pursue another passion part-time and need job flexibility. No worries, there are many different kinds of work that allow you to create a schedule outside of the standard work-day that works for you. 

Here is a list of 4 jobs that allow you to make your own schedule. 

Freelance Writer

If you have strong writing skills, and a background in marketing or another specific field, you may want to consider being a freelance writer. Many marketing companies look for a content writer to help them write articles for their clients. Most articles are 500-700 words, and marketing companies typically pay per article. Or, you could even ghostwrite. People often look for others to help write articles, blogs, memoirs, or other content. 

Freelance writing is wonderful because you can write at any time, at any place so long as you meet the deadline. You can look up writing gigs on Craigslist under the writing category to find a gig that best suits your creative and financial needs. 

Eyelash Technician

If you are interested in aesthetics and helping people look their best, you might consider training to be an eyelash technician through an eyelash extension course. Many courses offer eyelash technician courses online, or in-person. Search for some eyelash technician classes near you. Typically, in-person courses will be available in most big cities. 

However, if there are no available in-person courses, considering looking at eyelash technician certification online. You have plenty of options for helping others feel their personal best. This is also true for those who are extremely detail-oriented and enjoy scheduling their own lives. 

Private Tutor

Consider private tutoring if you feel confident in a certain academic subject, music, and the like. You can become a private tutor through some kind of studio or academy, or you can freelance private tutor. The hours are extremely flexible, as you get to decide when, and how, you work. Try reaching out to people with children still in school, who need help in a particular subject such as history or math. Or, consider your own personal talents and see what niche markets there may be to educate others–all for pay. 

Dog Walker

If you have a love for animals and light exercise, why not consider being a dog walker? You can look at dog walking companies to see if there are any availabilities in getting a job. Dog walking is extremely fun if you particularly love dogs, and want to get some casual exercise in your day. If you don’t want to go through a company, reach out to friends and family who may work during the day, and need someone to check in on their pooch to make sure they get adequate exercise. You can make your own schedule, and find out what approach works best for you. 

These are just a few options to work while having freedom in your life. Look at these jobs that allow you to make your own schedule, and find whatever works best for you! 

The 1031 Exchange Timeframe: A Guide for Businesses

Investing in real estate seems like a great way to build wealth. There are dozens of stories that still tout real estate investing as the best way to make money.

At the same time, there are a lot of unknowns and a lot of risks. There are also capital gains taxes and other tax rules to navigate. Those taxes could eat up a good percentage of your profits.

You can use a 1031 exchange, but you have to do so within the rules and timeframe. Read on to learn more about this option and the 1031 exchange timeframe so your transactions are successful.

Why Use 1031 Exchange?

When you sell a real estate property, there’s a good chance that you’ll sell it for a price that’s higher than what you bought it for. Housing prices have been going up over the last few years, making it likely that you’ll see a profit.

That profit is called capital gains.

The IRS requires that you pay taxes on capital gains, whether it’s for a real estate investment, stocks, bonds, or artwork.

How much taxes you need to pay depends on how long you hold on to the asset and which income tax bracket you’re in.

If you only hold on to a property for a year, the capital gains will be higher, up to 37%. The capital gains maximum tax rate is 20% for assets held for over a year because it’s considered to be a long-term investment.

The IRS code has a section, called section 1031 that allows you to defer capital gains taxes for real estate sales. You roll the proceeds of the sale of your property into another property.

1031 Exchange Timeframe and Rules

A 1031 exchange might seem like a great way to avoid taxes. You only get to defer taxes, not avoid paying them altogether. You would have to keep buying replacement properties if you wanted to avoid paying taxes altogether.

Think of a 1031 exchange as a tool that you can use to lower your tax burden. You can be strategic about when to use it and when you should realize the capital gains and pay taxes on them.

In order to make a 1031 exchange work, you have to have the transactions meet the IRS’ requirements and all within their timelines. Here are the main rules and the 1031 timeframe.

Property Must Be Like-Kind

The first rule to know about 1031 exchanges is that the properties have to be like-kind. There is a lot of leeway around this. You can have an empty lot and exchange it for a multi-family home.

The value of the properties does need to have a similar value or the replacement property has to have a higher value.

You might be wondering why you haven’t heard of this option as a homeowner who’s bought and sold properties. A 1031 exchange only applies to properties that are for business or investment purposes only.

A residential property does not qualify, like your primary residence or vacation home.

1031 Exchange Timeframe

The 1031 timeline is often the most challenging part of the entire transaction. You need to make sure that you understand when properties need to be identified and purchased and file the paperwork with the IRS.

When you sell your property, the timeline begins. There are 45 calendar days to find a replacement property. You then have 180 calendar days from the sale of your property to close on the sale of the replacement property.

If you purchase sell a property and April 15th (or whichever day is Tax Day) falls within the 180 day period, you have to complete the purchase by April 15th.

If it’s impossible to close the deal in a shorter timeframe, you can file a tax extension. If you owe other taxes, you still have to pay what you owe by April 15th. If you file an extension and pay your taxes later, you will be charged penalties and interest.

You Can’t Do a 1031 Exchange by Yourself

As you can tell, there are a lot of potential issues with a 1031 exchange. If you miss any of the deadlines, you will have to pay capital gains taxes.

You have to use a firm, or a person called a qualified intermediary. They are the holders of the proceeds of the sale of your initial property and help you handle the paperwork required.

The thing to remember is that they handle the money. The moment any funds from the sale of the property are in your hands, you have to pay taxes on them.

What Happens When You Want to Exit Real Estate?

For many property owners, they’re doing the maintenance and management of the properties themselves. Being a landlord is challenging.

At some point, you’re going to want to get out of real estate. Do you sell your properties altogether and pay capital gains taxes?

There may be a way to realize the benefits of a 1031 exchange, retire as a landlord, and see regular real estate income. That’s through a Delaware Statutory Trust or DST. These reasons explain why you want to explore this option.

Understanding Capital Gains Deferments

Taxes are complicated. They’re even more complicated when you’re dealing with investments like real estate. You can defer your real estate capital gains by leveraging a 1031 exchange. This lets you sell one property and purchase another without paying capital gains taxes right away.

You have to understand the 1031 exchange timeframe. If you can remember 45 days and 180 days, that’s half the battle. If Tax Day, falls in the middle of 180 days, do everything you can to finalize the purchase by then.

Keep checking this site for more great business tips and articles.

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