How Do I Start A Business?

How Do I Start A Business?

Business Consulting, Finance
Have you ever been watching films like The Social Network and Jobs and were inspired to start your own business? You’ve thought of a great idea but didn’t know where to start? I know I’ve come up with 20 ideas but didn’t follow through with any of them because I didn’t know whether they would be successful or how to go about it. Through reading different websites and different articles, I have come up with what I think would be the most important steps when starting a business. Who knows, you might be the next Mark Zuckerberg or Steve Jobs. Choose a Business Idea Do you have an idea you are passionate about? The first step in any business is to have a great concept. This could stem from an…
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Shopping or Networking?

Shopping or Networking?

Business Consulting, Finance
At the start of this month ECON Business Solutions ditched the office and went to Dandenong Plaza to talk to the public about our business. This wasn’t an ordinary event, we wanted to educate potential clients about their finances and offer advice to help their current situation. We attracted their attention through gimmicks like our spinning wheel and marketing material. We recommend doing this for all businesses because it was a direct method to talk to our target audience and market our business. Our goal of the event was to create brand awareness for our business and to gain potential clients. We had our credit management department and our brokers ready to give guidance to anyone that needed it. We also provided marketing material such as flyers and a banner…
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The Process of Removing a Default

The Process of Removing a Default

Credit File Repair, Finance
What Is A Default? A default statement is an amount owed to a creditor that an individual has failed to pay overtime. This statement is recorded in your credit file and can affect your credit score. What Is the Default Listing Process? The process of getting a default is outlined in the Privacy Act 1988. This legislation specifies all the requirements and procedures towards credit such as how the listing is placed. For a default to be listed, the individual must have an overdue payment towards a credit lender.  The lender is then under legal obligation to notify the individual that there is an amount that is owed and unpaid in their agreement. A creditor would then send out Section 6Q and a Section 21D notices of the Privacy Act…
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Beginners Guide: Where Should I Invest?

Beginners Guide: Where Should I Invest?

Finance, Investment, Real Estate
"Higher the risk, higher the reward" This is the main thing everyone knows about investment. However, when it comes to investment, it is important to reiterate "Don’t invest more than you are willing to lose" Here is a guide into some of the places where you can invest and what the advantages and disadvantages could be. Savings Account Savings account is a guaranteed way of getting a return on your investment, however, it doesn’t yield a high return. Advantages Having a savings account is low risk, whatever money you put into your account will generate interest overtime.Savings account is one of the most secure ways you can invest in due to the stability of banks and there is little possibility that you would lose the savings account. Disadvantages A savings…
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