(Shared by Amanda Walter, Business Intern with OSU South Centers)
By Kali Geldis, Nav
Most business owners are familiar with their personal credit scores. You’ve probably used your personal credit score to get credit cards, buy a home, or to rent an apartment. But now that you’ve started your business, you can start building a credit history that shows lenders your business is a good bet.
Business credit scores are similar to personal credit scores in many ways. Your business’s history of applying for credit, paying suppliers on time, and how you handle lines of credit or loans all factor into your business credit scores. That data is reported to business credit bureaus like Dun & Bradstreet, Experian, and Equifax. (You can check your business credit data for free every month at Nav.)
Here are some reasons why a business credit score matters – the doors it can open can be game changing for your company.
1. You can’t get some SBA loans without it.
2. You have more loan options once you establish a business credit history.
3. Other businesses use it to check up on you.
4. It helps you protect your personal credit.
5. It can save you money on financing.
6. It can help with cash-flow problems.
7. It can save you money on insurance premiums.
8. You can’t get trade credit with some big players without one.
To read the full article, follow this link.
(Shared by Kelly O’Bryant, Business Advisor, OSU South Centers)
Life hacks are all the rage these days. Now Elle Kaplan of CNBC.com offers some work-specific hacks you can use to make your day more productive and pleasant:
- Email smarter.Make entering the recipient’s address the last thing you do so you can review what you write before you send it. The ability to reconsider a message written in haste or the heat of the moment can save you some regret.
- Keep a clean workspace.Kaplan cites a 2011 study published in the Journal of Neuroscience that found that multiple stimuli are taxing for your brain. Removing inessential or obsolete clutter from your immediate work environment can take a load off your brain. In other words, a clear and focused workspace might translate to a clear and focused mind.
- Arm yourself with healthy snack options.We all know that healthy snacks make more sense, but we also tend to go with what’s most easily available. Bring in some fruit, nuts, or energy bars at the beginning of each week so you’ll have them on hand when hunger hits.
- Learn to delegate.Taking on everything yourself will deplete your productivity. If you feel like you’re the only person who can handle a certain task, take the opportunity to teach someone else how to do it, too. You’ll increase your own productivity and protect the organization from being left in the lurch if you’re not available.
- Make yourself comfortable.Put ergonomic advances to work for you. Use back supports, wrist rests, and similar products to reduce the strain on your body.
- Ask questions.Kaplan notes that it can be impossible to solve some problems without asking the right questions, whether of an expert, a colleague, or even yourself. “What can I accomplish today that will have the biggest impact on my business?” “Who can I talk to today to help overcome the obstacle at hand?” Questions like these prepare you to have a clear intent and a resourceful perspective.
- Use colors.Scientists have found most people associate certain colors with certain qualities. For example, we usually connect green with growth and creativity. Incorporate color in your workspace to influence your moods and inspire yourself.
- Give your eyes a break.If your job requires you to spend a lot of time looking at a computer screen, follow the 20-20-20 Rule to reduce the resulting eye strain. Take a 20-second break every 20 minutes and look at an object 20 feet away.