Attention Bad Credit Car Buyers! Here’s How You Can Get an Auto Loan!
Buying a car is everyone’s sweetest dream. But for bad credit car buyers, the auto financing part is more of a nightmare. Bad credit might have occurred due to a variety of reasons. Late payments, missed payments and past financial behavior may lead to a poor credit score. But fret not. Bad credit individuals can avail an auto loan, although a little hard work is required. Applying for a loan involves many factors which finally lead to a ‘yes’ from the lender. Understanding the different factors of a bad credit auto loan will help you to get a grip on your current situation and throw light on areas that need your attention.
Important Factors to consider for a Bad Credit Auto Loan
The following factors are of prime importance in the process of getting loan approval.
1. Credit Score
Checking your credit score before applying for car financing is a wise decision. If you suffer from bad credit, you should check your credit score a couple of months before you start car shopping. This will ensure that you have enough time to rebuild it. A few ways to improve your score include reducing your debt to income ratio, clearing old debts and checking for any fallacies in the report. While lenders judge your creditworthiness primarily through your credit score, do not worry about your bad credit. Your focus should be on improving it. You must also consider other factors that will help you get a loan.
2. Down Payment
Another factor in getting an auto loan with bad credit is the down payment. Car buyers with a bad credit history and limited time to rebuild credit scores should be prepared to put a hefty amount of money down. With a big down payment amount, you borrow less. This will eventually lead to more savings. Without a down payment, the dealer will narrow down the car options available to you and your financing options will also be limited. This is because the lender will consider you a risky buyer. Therefore, making a down payment can instill a sense of creditworthiness in the lender and you can avail such a loan easily.
3. Apply for a Pre-approved Auto Loan
A pre-approved auto loan is an easy way to have an upper limit of the car that you wish to purchase. Additionally, a pre-approved car loan helps you to be prepared for the automobile purchasing process. The process helps you to understand the amount that you can qualify for a car loan depending on your credit score, income and expenses. Thinking one step ahead and submitting your documentation in advance for a pre-approved auto loan will help you to identify any fallacies and save you a lot of time in case you have to apply for a loan again.
Do Not Limit Yourself to the Credit Score
Credit scores make an important component of the auto loan process. However, it is not the only way to obtain financing for a new car. While a bad credit history may be difficult to erase, you can start by following the above-mentioned steps and work on getting auto loan approval easily. Remember to focus on different aspects of the deal and you will get approved at the click of a mouse.
Managed Services – The Secret Sauce For A Successful Managed Services Business
Just for the moment, consider yourself a moderately successful IT service provider who sees the growing opportunity in managed services, is quickly developing the technology to support this burgeoning market and knows the secret – has in fact the secret “sauce” – to managing a successful managed services business.Now liken yourself and your IT business to the owner of a fine dining establishment. The restaurant owner knows that his professional livelihood is built on the “meat and potatoes” of his operation, namely his fine selection of highly quality meats cooked to perfection. And he is convinced that his culinary success is due to the secret “sauce” he has created to adorn each entree. He even has a signature garnish that he places on top of each entree that makes it highly unique to him and a cut above his competition.This same analogy applies to your IT business. Your company is probably beginning to shift away from the technology and the tools that deliver services to a realization that the managed services business is the “meat and potatoes” upon which your future livelihood will rest. Your “culinary” success will be due, in large part, to the special “sauce” you create to adorn each managed service you offer. That special “sauce” is your marketing strategy. The garnish you place on each managed service is the one unique fact or feature about your business -and how you market it – that sets you apart from your competitors.So, what are the “meat and potatoes” of your business – the managed services you plan to offer your clients as you transition to a successful managed service business? How are you going to marketing those services – what “sauce” or “sauces” are you going to create to sell them? What “garnish” will you put on top – what fact or feature about your business is unique enough to separate and differentiate you from your competition?First, let’s talk about managed services. This is the “meat and potatoes” of your operation.To optimize your overall performance as a successful managed services business, here are five key elements of the business to master. Mastery of these “secrets of success” will determine how well you do in the marketplace and positively impact your success and survivability as a managed services provider (MSP).Core Technologies. The definition of managed services is expanding from infrastructure management and remote maintenance to the inclusion of software as a service. Selecting the right technology is one key piece of an effective MSP strategy. Successful MSPs typically use one of two types of software solutions – Professional Services Automation Software (PSA) and Remote Monitoring and Management Software (RMM). PSA blends such functions as customer relationship management (CRM), sales force automation, customer billing and troubleshooting into one single comprehensive platform. RMM allows the MSP to proactively maintain and troubleshoot customer systems and networks off-site.
Emerging Technologies. Up until now, MSPs were able to master basic PC and server administration. Today’s MSPs face new challenges as the landscape of managed services continues to evolve. Now these MSPs have to master cloud and SaaS managements and learn how to tap into systems like Amazon Web Services (AWS), Google Apps, Microsoft Windows Azure and Microsoft Business Productivity Online Suite (BPOS). Keeping pace with these options requires constant networking. Successful MSPs make this one of their biggest priorities.
Business Leadership. As you move from being a technology driven business to being a managed services provider, commitment from the CEO and top management is critical. Managed services will stall or fail completely without this commitment. CEOs don’t have to master the MSP technologies but what they do need to do is this:
Promote recurring revenue streams as much as possible instead of quick break fix project work.
Track and improve customer service levels rather than billable hours.
Schedule frequent meetings to advise customers on those service levels and to discuss technologies that can further improve overall business performance.
Hiring & Firing, Sales Training & Compensation. The jury is still out on whether MSPs need to fire or replace staff as they push into managed services or work with existing staff to generate more and more recurring revenue. Sometimes MSPs find it works better if they augment their staff with outside talent, though many times this talent can be found within their existing rank-and-file. In more traditional IT companies, sales teams are generally paid a one-time commission for special projects revenue. In the managed services market, however, recurring revenue models create new opportunities and new challenges. The biggest challenge is keeping salespeople focused on longer-term, ongoing contracts rather than quick-hit project work. Without the proper compensation plans in place, salespeople may make half-hearted managed services calls and end up pitching a new technology product instead of the managed services you hope to sell. The best MSP in the most successful managed services business has clearly communicated compensation plans with well-defined goals and priorities that motivate the sales professional to look for more business and more opportunities for managed services from either existing clients or new ones.
Service Level Agreements. Successful MSPs know that without a well-designed and understood service level agreement in place, the clients will be expecting one thing and the MSP another. Using a solid service level agreement shows the client that you know what you are doing and that you will put both your reputation and wallet behind your word.Now, let’s talk about how you are going to marketing these managed services. What “sauce” or “sauces” are you going to create to sell this business model and bring value to the customer. The signature “sauce” you create and the ingredients you use to make it is the key to your success. Here are the three ingredients you need:Marketing & Client Education. Managed services generates a significant amount of information about end users’ activities and needs. Successful MSPs use that information to anticipate those needs and recommend applications and value-added services to help clients run their businesses more effectively. Using that information as part of a marketing strategy to better educate the customer is paramount. Many MSPs believe the client’s lack of knowledge and understanding about the managed services business model is their greatest inhibitor to success. When the time comes to describe your managed services portfolio to clients, remember these three words – less is better. Skip the high-tech acronyms, the techie bells and whistles, and focus on the benefits to your client. Concentrate only on the services you offer that bring them real value, like customer satisfaction or service levels.Marketing Strategies. To date, managed services has been about the technology, but today’s successful MSPs are more focused on how to run their business well and deliver value to their customers. They know the importance of a successful business model, targeted sales strategies and value propositions and they are marketing all of that to their clients as part of their managing services portfolio. But the driving force behind the push to invest in a sales and marketing strategy is the company’s commitment to sell the customer on the value the MSP can provide.The New Marketing Model. Successful MSPs know that technology alone is not going to change their business. They know it’s all about creating a business model of managed services and equipping themselves with the skills to run their business and to market it to a targeted audience. To build a successful marketing model, you need to do three things:Define your product (managed services) from the client’s perspective and sell it that way. Let client’s know the advantages of this approach. Let them know you can provide them with software and spread costs over a number of clients. Tell them you can build more application experience than in-house staff. Assure them that your key software systems are kept up to date, available and managed for performance by experts. Let them know they will always have access to product and technology experts. Show them you can reduce their costs to a predictable monthly fee.
Know your client and let them know you know them. Let them know that you know it takes them six to 12 months to commit to a services program. Speak to them in their own language by speaking to the pains that you know that they have because they are common in the industry. Then show how you are uniquely qualified to resolve these pains and problems.
Use sales and marketing tools to your advantage to reach your client and, use only those with a proven return on investment. Schedule as many visits and meetings with the client as you can to advise them on service levels and to discuss new and emerging technologies to further improve business performance. Invite them to events like small business luncheons to get their thoughts and opinions on business trends or use of technology. Prepare hand-outs describing the benefits of predictable, flat-rate, proactive managed services programs. Create ongoing marketing and PR campaigns to announce new software products and technologies. Actively solicit customer endorsements.Now, once again, liken yourself and your IT business to the owner of a fine dining establishment. We have defined the “meat and potatoes” of your operations – all of the managed services upon which your business in now built. We have given you the key ingredients to make your special “sauce” or “sauces” – client education, key marketing strategies and the new marketing model. Now all you need is that signature garnish you place on each of your products that is unique to you and you alone and a cut above your competition.That garnish is a statement of who you are and how you present yourself. Are you ingenious? Are you creative? Are you capable of delivering the services required in a knowledgeable and innovative way? Do you communicate reliability and dependability? Are you empathic towards your client and their needs? What is it about you that makes the client want to do business with you and nobody but you? These are the intangible things that set you and your managed services business apart from your competitors. This is what your clients will remember.This is a concise overview of what it takes to succeed as an MSP. Know your product. Know the market. Know your customer. Then move ahead and capitalize on the opportunities in managed services.
Digital Marketing Lessons From Yoda, Luke, Princess Leia & Han Solo
Marketing inspiration can be gleaned from many sources, and in this case, we look to the famed characters of Star Wars to help us on our way. Let’s review a few pithy quotes from likes of Han Solo, Princess Leia and the great and wise Yoda, and see how they might apply to digital marketing.LESSONS FROM HAN SOLO”Punch it.” Take your content to the next level, make it relevant and continually review and refine. In other words, punch up your content!”Look, I ain’t in this for your revolution, and I’m not in it for you, princess. I expect to be well paid. I’m in it for the money.” Though most organizations are in it for the profit, the goal of many digital marketing campaigns is to establish credibility and to build an online rapport. This is especially true for considered purchase items. So… focus on educating and helping first, and selling second.”Great, kid. Don’t get cocky.” If your business is growing nicely, now is the time to invest in new ideas, technologies and resources to continue that growth. Don’t get cocky and think that you can continue to sell and market the same way you did a few years ago (or more).”Hokey religions and ancient weapons are no match for a good blaster at your side, kid.” Old school thinking may not appeal to your progressively younger buyers. Innovate and stay ahead of the curve. That said, we never want to use an email “blaster” mentality. Always follow email marketing opt-in best practices.”Traveling through hyperspace ain’t like dusting crops, farm boy.” Email marketing to thousands of prospects list is a giant leap from a modest list of a few hundred. Keep this in mind when creating new, aggressive email marketing initiatives.”Great shot kid, that was one in a million.” Any given campaign can prove to be a home run, but consistent, educational campaigns should be the goal for every business.”Laugh it up, Fuzz ball.” It’s great to have fun with your marketing initiatives, but many B2B businesses should err on the side of professionalism with educational and relevant content. Explaining the origin of Foosball, or the best recipe for New England clam chowder in your business blog is unlikely the best way to engage your audience.LESSONS FROM YODA”Patience you must have, my young Padawan.” Marketing, including digital marketing, takes time and patience. Execute, Measure, Refine. Execute, Measure, Refine. There is no substitute for an experienced digital marketing professional. Don’t trust your digital marketing to a novice or treat it as a part time job to be completed by a salesperson, producer or account manager when and if they have time.”Mmm. Lost a planet, Master Obi-Wan has. How embarrassing.” Though it must be very embarrassing to lose a planet, forgetting to include a working call to action link can be embarrassing too! Double check all your links before launching campaigns.”You must unlearn what you have learned.” Just because something has worked in the past doesn’t mean you should continuing doing it in the future. Sometimes you need to step back and assess marketing initiatives, even if they’ve been successful in prior years and for many years.LESSONS FROM LUKE SKYWALKER”It’s not impossible. I used to shoot womprats with my T16 back home.” Laser like focus can be invaluable for marketing campaigns. Defining a target market, determining a buyer persona, creating a prospect scorecard and ensuring that your company has a robust prospect list are all crucial to effective and efficient marketing. Whether you’re targeting womprats or trucking executives, make sure you have the data and methodology in place when embarking on your next campaign.I’m Luke Skywalker. I’m here to rescue you.” Are some of your marketing initiatives going so poorly they need to be rescued? How are you determining which plans need to be rescues versus those that need to be jettisoned? Marketing initiatives need to be reviewed on a regular basis, and culled when they are beyond rescue.”I am a Jedi, like my father before me.” My father founded this company, so I’m going to run it the way he did. As companies transition from fathers to sons and daughters, there are important elements to keep, and many to throw away. When it comes to marketing, look at what has produced recent ROI, and look at innovative approaches for future ROI. A simple example might be the website your father (Jedi or otherwise) created ten years ago. It might have been great then, but the time has come and gone to create a new, mobile responsive website.LESSONS FROM LUKE DARTH VADERThe force is strong with this one.” Once you earn a positive digital reputation, the force will be strong with your company, and can remain strong with high quality content and consistent communication.”It is your destiny. Join me, and together we can rule the galaxy as father and son.” Though ruling the galaxy may be beyond the scope of your business, you can dramatically increase your book of business with innovative marketing initiatives, leading edge tools and the talent to execute them. Considering outsourcing certain marketing initiatives to compliment any missing in house staffing or skills. Outsourcing can be a more effective solution than internal staffing for many organizations, especially smaller businesses.LESSONS FROM PRINCESS LEIA”Help me Obi-wan Kenobi, you’re my only hope.” Though marketing can often be daunting for many companies, particularly small businesses, it’s not as hopeless as it might initially seem. And there usually isn’t just one silver bullet that will solve a problem(s), but rather many options which can provide successful outcomes. When initiatives are going poorly, start with the basics such as market, profile, persona, delivery options, etc. Use A/B split testing (or multivariate split testing) to better optimize messaging and calls to action.”Aren’t you a little short for a storm trooper?” Just because your budget is small doesn’t mean it can’t be effective. For example, leverage less expensive tools and platforms to expand reach. Use LinkedIn long form publishing as opposed to paid press releases. Cross pollinate your digital content by using free or inexpensive social media platforms. Small businesses and startups can use sweat equity when they have insufficient capital available.”I have a bad feeling about this.” Well this one seemed quite obvious. If you don’t have a good feeling about your marketing campaign or initiative, think out of the box (or “poke the box”) and try something new. How about whiteboard videos, or a social media based referral program, infographics for digital content, on demand webinars, a new app, or pod casts. There are so many tools and technologies available today, there is something for companies both small and large. LESSONS FROM OBI-WANStrike me down, and I will become more powerful than you could possibly imagine.” If at first you don’t succeed, measure, refine (or overhaul), and execute. Repeat!Marketing inspiration can be gleaned from both traditional and innovative sources. Businesses need to embrace innovative marketing ideas and new technologies. And if your business is looking to “punch it” when it comes to marketing, you may wish to consider outsourcing some or all digital marketing to a professional and proficient marketing agency.