Finance

3 Worst Blunders When Selling Scrap Metal

Finance

Scrap MetalSelling scrap metal is a boon. Your junk car, broken tools, damaged balustrades, old PC towers and rusty pipes would be nothing but waste without this trade. Thanks to metal recyclers, practically any rubbish that is made of metal is a nugget. Instead of letting them rot in storage and dump them in landfills, you can turn your garbage to gold.

Indeed, metal scrapping is worth every drop of sweat—if you know what you’re doing. Most new scrappers don’t find the experience that worthwhile not because it is not, but rather they have no clue how exactly they can make the most money out of it.

Whether you’re a first-timer or an occasional scrapper that is yet to earn a decent amount from this endeavour, McCamish Metals noted what mistakes you should make:

Disregarding Preparation

Rule number one to get more cash for your items is to read them beforehand. By ready, this means scrapping them ahead to help save time for your scrap metal recycler. But it’s their job, you say? Well, not exactly. Their business is to recycle metal items for export, not to scrap your materials for you.

Certain items need some scrapping first, like copper wires. If you take the effort to prepare your material for recycling, your trader would most likely pay you much higher.

Discounting Metal Grades

Not all metals are equal. Wherever you go, the trader would first classify if you have a ferrous or non-ferrous item. Simply put, the former is magnetic and the latter is not. After identifying your metal, they would classify the grade to know its value.

Your basic know-how about metal grades makes a world of difference. As the industry deems non-ferrous metals more valuable, that alone can help set your expectations for the price you would get.

Failing to Shop Around

The amount you would get depends on the trader or metal parts recycler. Some are willing to offer you a good price, while others would try to rip you off. It’s highly advisable for you to get a couple of quotes to make the most money off your item.

Scrap metal trading isn’t rocket science, but knowing these common practices is key to receive what you can potentially earn.

Nail Polish Mistakes That Prevent You from Getting that Perfect Manicure

Finance

Nail Polish MistakesGetting that perfect manicure may seem easy, but only if they’re done correctly. Some visit nail salons, while others prefer to apply nail polish by themselves. Both options are good, but if you’re planning to do the latter, it’s best to read up and know what nail polish mistakes you should avoid.

With the help of glossandco.com.au and expert salons and manicurists, here’s a compiled list of the most common nail polish mistakes:

Mistake #1 – Applying nail polish when your nails are dirty

Any trace of dirt, dust and moisture can affect how the nail polish would stick onto your fingernails. Don’t clean by soaking your fingertips. You might think it’s a good idea because salons do it, but it’s only for pampering purposes.

Soaking your nails will make it absorb water and expand temporarily. When it dries, it will contract and go back to its normal shape. Not applying nail polish when the fingers are in their normal shape may lead to chipping, cracking and peeling. Use a manicure brush instead (or an old toothbrush) and wet it with diluted hand soap to remove oil from the tips.

Mistake #2 – Shaking the nail polish bottle

Don’t shake your nail polish bottle because it will only trap and create tiny pockets of air (bubbles) inside. The same goes if you keep on pumping the brush in and out of the bottle. Hold the bottle vertically with both palms and roll it as if you’re playing with playdough.

Mistake #3 – Cutting your cuticles

Cuticles are there for a reason and it’s a big mistake to remove them before applying nail polish. Experts say that it’s a health risk to cut your cuticles because you’re opening cuts on your fingers and putting yourself at risk of infection. Push them back instead of cutting them. After all, they get flaky when they grow back and you might not like how they look. It’s better to keep them intact.

The next time you give yourself a manicure, make sure to remember these common mistakes and avoid doing them to get the results you want.

Built to Last: Building a Successful Business

Finance

keyboardStarting a business may be a popular option for those who wish to stand up on their own, avoid dealing with a terrible boss or simply waking up early and trying not to be late in the office.

Putting up a business is also a great idea for those who takes their passion as their source of income. This move, however, especially if one is starting from scratch, may not be easy as some people think.

Here are a few strategies that can help you:

Step 1: Brainstorm your business idea

Every business starts with a good idea. One must consider the business partner’s interest, capability, and the amount of commitment he can give or sacrifice for the success of the company. You must not think of a sporting collectibles shop if you are not into sports. Another thing to take note of is the market behaviour and the demand for your product or service.

Step 2: Target your desired market

Targeting the right market is an important part of starting a business. Consider their age, gender, profession or interest. You may also focus on what type of customers your competitors are attracting.

If your product or service would compete against long-existing establishments, then think twice. If you are planning to put up a diner and your competitor’s target market are young adults, then why not consider having a children-themed diner?

Step 3: Test your location

As commented by CNBC, just because a local strip has a lot of foot traffic does not mean that it is the right location for your business. One must know who the buyers are and identify one’s target audience. One may also consider testing the waters by having a “pop-up” location, renting a small space for a short period and then observe.

Step 4: Project your success

It would be necessary to put your business to the test. It’s best to get some professional help for a feasibility study or for an income projection. Visit your target location and hand out survey questionnaires. It would be wise to base your investment, as well as your product or service from the survey results.

Step 5: Finance your business

A business would not be successful without having enough capital. Unless you have instant cash in hand, you must think of ways on how to finance your business. There are three reliable sources of capital: family and friends, investors and bank loans. When applying for a loan, industry professional Rapid Loans shares that it’s important to know the things to watch out for.

Step 6: Advertise and make your business known

If everything is set, then you are ready to go. Think about advertising your business before operating. Use the social media to your advantage, as it’s affordable, easy to use and effective way of attracting potential consumers. Hand out flyers or posters in the nearby communities as well.

Keep these things in mind to help you manage your business with ease. It pays to know how to properly create a strong business plan, what type of customer to target and how to finance the business.

Earning Your Advantages witha Level 3 Credit Card Data Processing System

Finance

As a merchant, you never want to waste a single opportunity that would benefit your business, especially when it comes to managing your payable accounts. With the revolutionary level 3 credit card data processing, you have nothing to lose and everything to gain with simply filling up the line item detail as found in the purchase invoice.

Level 3 credit card transactionsgive additional discounts to government agencies and businesses, unlike those of consumer-level credit cards. The way this works is that the merchant provides additional information from the purchase, which allows Visa and MasterCard to track consumer behavior.

Earn Those Special Interchange Rates

High profile credit card companies VISA and MasterCard offer special interchange rates for Level 3. In this system, they reduce transaction charges every time Level 3 line-item details, such as the invoice number, tax identification and transaction amount, among other details, are provided along with the credit card payment.

YourBottom Line on Your Fingertips

Level 3 processing comes with the latest virtual terminal feature that allows business owners to monitor their transactions anytime, anywhere. This technology facilitates faster and easier transactions compared to its predecessors, Higherstandards.net asserts.

Safety Issues

To protect the interest of card users,major card holding companies like Visa and MasterCard issue certain policies, thus assuring safe record keeping. They additionally utilizea virtual terminal feature in compliance with the Data Security Standard.

Financial Liability for Government Card Users

A government purchase is provided with a complete detail of each transaction made. These are all automated directly into its accounting system, making it easier to keep track of financial liabilities.

Level up now to the line-item detail card system for your commercial dealings and get a foolproofprintout of your benefits. Make it a habit starting today and see how far up it can lift the quality of your business.

Company Ventures 101: The Five Essentials to Ace to Land the Grand Slam

Finance

company meetingsIn this world where almost every field is saturated with new labourers, some just want to try something new and be their own bosses. Entrepreneurs are anyone who wants to start company for themselves. But these people rarely start out experienced. More often than not, their first ventures are like the maiden voyages of newly-commissioned sea vessels – faring into the unknown seas, not knowing one corner of the ocean from the other.

Whether you’re from Sydney, Melbourne or Brisbane, here is a quick guide for all you beginners out there on the five things you have to sort out before launching your maiden venture.

1. Service and Product

All companies offer either a service or a product. Think about what you would offer: is there a market for it? Is there a need or want for it? Does the current trend allow very good opportunities for these? Try to think of something new and novel, but more than that, something practical that people will turn to.

While it is said that ‘nothing is new under the sun’, you can always optimize your service or product. If your intended service or product has similarities to existing ones, there are two ways you can get people to buy it.

First is price; if the price is lower or more economical, people just might prefer it. The second is differentiation. Though your product is largely similar to the other ones already in the market, what is it about it that makes it slightly different from the others?

2. Target Market

Just who are you trying to sell your trade to? That is a question that needs answering. Depending on what your service or product will be, your demographic should be amenable to buying in. Aside from simply asking the question, you should also assess if this is feasible.

3. Business Model

This is where most companies make or break. The model is the template or the overall plan on how you plan to go about your venture. This defines how you will execute your operations from manufacturing or sourcing your product, to distribution and maintenance. Plan this step carefully, and do your homework on as many models as you can – selecting which is practical to use for your vision. You can assimilate multiple models and form one that will best suit your venture.

4. People and Investors

Fourth on the list is your people, Scolari Comerford notes. You cannot run the trade all by yourself. Not only do you need a team working for you to share the load and contribute to the main effort, you will need a good network of contacts that can help you coordinate everything. And most of all, ventures need investors. Find people who are not only willing, but interested in seeing your company grow, and to pour money into it.

5. Inside Infrastructure

Closely tied to that of the fourth item, is how your company actually works on the inside. Related to your model and personnel, is how you plan on running things on the inside. Who gets paid for what, who handles what. This is managing the inner workings of the entity like how would the payroll system work, rewards and benefits, quality assurance and standards regulation. You best tap into outside consulting like business accountants to set your ledgers straight.

A good company is founded on a great business model – and where people work as part of a team. Know these five points first before engaging on any venture.

Debunking Insurance Myths: Not Everything You Know about Insurance is True

Finance

Insurance coverage is more of a necessity than a luxury in modern society. A few of decades ago, only well-off Australians could afford coverage. But the insurance industry became more accessible to consumers as more providers entered the market to compete.

There’s no denying that insurance policies are lifesavers. Getting the right coverage for the right price is one way to put your money to good use. Here is the problem, though: despite all the information within reach of consumers, a lot of people still get insurance wrong. For example, there are still some who end up paying more for coverage that they do not need.

So how much do you really know about insurance? Here are some of the most common misconceptions about insurance coverage:

Insurance is just a waste of money

Insurance can be costly, yes, but it can be worth every cent (provided you choose the right coverage for your needs). Insurance advisors from Perth-based Reliance Partners explain that it doesn’t matter if you haven’t experienced loss or damage to your assets. The point of having insurance is to be protected from unforeseeable circumstances that could put you in a financially difficult position – one that could possibly end up in bankruptcy. Although the government provides assistance during such circumstance, chances are it may not be enough to recuperate possible losses.

All insurance providers are the same, offering the same products at the same price

No two insurance providers offer the same type of coverage. According to the Australian Prudential Regulatory Authority, there are more than 100 insurance providers operating in Australia. Each of them needs to offer something different if they want to gain a significant share of the market. This is the reason insurance products differ in pricing, coverage and terms.

It is the insurer’s fault for not knowing the conditions of my assets before providing coverage

Consumers need to be completely honest with their insurers. For example, questions regarding the age of a property and its conditions should be answered truthfully as it could affect claims in the future. While insurers do their own part to check the validity of the information provided to them, maintenance of a property remains solely as the client’s responsibility.

It should not be too difficult to find good insurance coverage these days. The market is teeming with competition, which means insurance providers will be fighting over your business. Insurance providers continue to step up their game by offering more choices to consumers. The same is true for the Australian government, who is putting up better efforts to protect consumers against fraudulent business practices. Taking all of these into consideration, there is no excuse for consumers not to know what they are getting themselves into when it comes to getting coverage.