All posts by Financial Independence Hub

6 ways you can start an Online Business with no outside capital

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By Melissa Page

(Sponsored Content)

People looking to start their own businesses often find themselves unable to do so because of budget limitations. They are usually unwilling to shell out so much money for something that comes with a lot of risks, even if the type of business they’re planning is an online venture.

Fortunately, there are ways to start an online business with little to no external capital.

Here’s how:

1.) Validate Your Business Idea

Look into your original business idea thoroughly, and ask yourself some important questions: what consumer needs are you trying to address, and how will your new company answer that need? How do you foresee your company functioning? What tools will you need in order to run your business the way you want it to run?

All these questions should be answered by a detailed plan and thoroughly outlined strategies. Chances are, you’ll be able to find several holes in your initial business outline that will require you to rethink several steps and recalculate possible costs. Be as thorough as you can in order to avoid spending needlessly.

2.) Consider Drop Shipping

Not everyone who starts a business produces their own products. If you’re one of those who don’t want to make anything, then you may want to consider drop shipping.

How it works is: you order the products directly from the manufacturer on an as needed basis. In this case, it is whenever a customer goes to your site to order the said product. The difference between drop shipping and the standard retail model is that you don’t really keep any products on stock, but rather, orders the products to be delivered directly to the customer.

3.) Skip the Logo for now

Your logo is the visual representation of your company, and is as important as the quality of the products that you sell. However, creating a logo can be costly, especially if you’re hiring someone to do it for you professionally. You can very well skip it initially to cut costs. After all, people rarely remember a logo unless it’s from an already established brand. Once your business is up and running, you can have it done and include it in the marketing of your online shop.

4.) Use Free Tools

There are many free platforms online that can help you create an online shop. Most e-commerce platforms have all the tools you need to create and manage your website. There are also free tools you can use to further improve the look and feel of your site. There’s no need to spend cash on building your own website when you’re just starting out and testing the waters, rather, make use of free tools on the internet that can help you get started.

5.) Monitor Your Cash Flow

Not only will this help you keep track of all your expenses and profit, you can also pinpoint any unnecessary expenses that you can avoid in the future, thereby keeping your initial costs and capital down.

6.) Try Free Marketing Options

Marketing strategies vary for different businesses, and in a lot of cases, these can be costly. When you’re just starting out, you’ll want to employ every type of marketing strategy you can in order to get your products known. Fortunately, there are plenty of free marketing options that you can use. Utilizing social media is a great example, and can also bring amazingly quick results.

It’s not easy to start anything, let alone a business with little to no capital. It takes passion, and a great deal of hard work to start and maintain a successful online business.

Melissa Page is a passionate writer and social media contributor who works with successful companies and brands. When she’s not writing, she plays bowling with her friends.

How to save money on TV, Phone and broadband packages

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By Jeremy Dawson

(Sponsored Content)

Many people have made the blunder of subscribing to TV, phone or broadband packages without due diligence about the kind of service they are paying for. This leads them to pay hefty bills on a monthly, quarterly or yearly basis without realising that they can actually save more on those subscriptions.

They only realise they have been getting a raw deal when a friend alerts them to a better service with which they have experimented. In most cases, these people still see adverts of cheaper subscriptions online or in the media, but they are skeptical to try new services with which they have no experience.

Before subscribing to any TV, phone or broadband services, it’s advisable to conduct thorough research, both online and offline. This will help you identify the service provider with the best yet affordable deal. Some people have the notion that a cheap service provider offers low-quality products and hence, they tend to stick to the overrated and sometimes inferior services. There are various factors to look for when shopping around for the best service provider for TV, phone and broadband, which can save you a considerable amount of money in the long-term.

Type of subscription

The first factor you may want to consider when choosing the best service provider for TV, phone and broadband packages is the kind of subscription. Different service providers have diverse types of subscriptions, depending on the kind of services they are offering. Continue Reading…

25 factors that impact Life Insurance premiums

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By Chantal Marr, LSM Insurance

Special to the Financial Independence Hub

Life insurance protects your family financially, but it can also be huge strain on your budget. Over the years, even a small savings in your premium can really add up. The following factors are used to determine the rate you will pay. Not all of these factors are controllable; however, there are some lifestyle changes you can make to lower your premium.

1. Age at Time of Purchase

The younger you are at the time of purchase, the lower your rate will be. Insurance experts say the sooner you buy a policy, the better. Chris Huntley, life insurance agent at Huntley Wealth and Insurance explains, “Age is the most important contributor to both term and whole life insurance rates. If the insured outlives the initial term, the insurance carrier must adjust the premium to reflect their new age.”

2. Your Health History

Insurance providers need to know of any health problems you may have had in the past to determine your risk factor. Chronic illnesses could result in higher premiums. According to Canada Protection Plan, “Generally, insurance underwriters review an applicant’s medical history, and assign a rating based on the presence (or lack there of) of common medical conditions.”

3. Current Health

Most insurance providers require a medical exam to determine how healthy you are. The doctor will look for signs of high blood pressure and other conditions that may lead to future problems. If you are in good health, you will typically qualify for lower rates. “Your health is a key indicator of the risk you pose to an insurer and will directly impact not only your ability to get a policy but how much you’ll pay for the policy.” Richard Laycock, senior insurance writer.

4. Your Weight

Obesity can lead to all types of health problems. Being overweight or obese can put you in a higher risk category for insurance purposes. “Life insurance premiums are also based on your weight, or at least the proportion of your weight to your height. There are ranges and a theoretical norm at the center, that indicate a “normal” proportion. To the degree your own height-to-weight ratio varies from the ideal range, you will pay more in premiums,” says Neal Frankle, CFP.

5. Hazardous Occupations

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Odds of outperformance in emerging markets stacked in favor of active managers

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By Caroline Grimont

(Sponsored Content)

When investing in emerging markets, the odds of outperformance are stacked in favor of active managers. That’s because, unlike developed markets, emerging markets are a heterogeneous and inefficient asset class.  Each individual market and region possesses unique characteristics, risks and opportunities, which can be best leveraged through active, on-the-ground management.

The underlying truth is that indices such as the MSCI Emerging Markets Index that are used by passive managers to invest in emerging markets are a poor representation of opportunities in these markets. Indices typically include only the largest stocks by market capitalization and exclude potentially faster growing small and medium cap stocks which can be accessed by active managers.

And the fact that roughly two thirds of emerging market stocks are excluded from the respective indices means that investors in passive index-based investments lose the opportunity to participate in the growth of the majority of emerging market equities.

On the other hand, active on-the-ground managers have the advantage of being “free to roam” in making their investment decisions, compared to passive managers who are restricted to investing in stocks in an index over which they have no control.

As well, “in certain niche markets, like emerging market and small company stocks … it is possible for an active manager to spot diamonds in the rough,” states a Wharton, University of Pennsylvania article.[i] Conversely, the performance of passive managers is dictated by the index.

To put this reality in perspective, one of the world’s largest index providers, S&P Dow Jones Indices, highlights the shortcomings of using a broad-based passive strategy to invest in emerging markets in its research paper, Emerging Markets: What’s in your Benchmark?  It surmises: “Numerous factors, including country and regional combinations, can create vast differences in performance and return patterns. If you’re looking to boost returns through exposure to international markets, you may want to dig deeper and consider looking beyond traditional broad-based benchmarks to truly assess the value of an allocation to any of the world’s emerging economies.”[ii]

Unconstrained by sector bias

Another benefit of using active managers in emerging markets results from the fact that they are not constrained by the dominant sector bias in EM indices.

Continue Reading…

Looking under the hood of a Guaranteed Universal Life Policy

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By Jessica Walter

Special to the Financial Independence Hub

Though it can be morbid and upsetting to think about, it’s important that seniors have life insurance in place so that their families don’t have to worry.

Despite this, 54% of Americans say they are unlikely to purchase life insurance. As well as this, according to research organization LIMRA, 51% of all households say they would rely on life insurance payouts to pay bills and maintain their lifestyle, in the event of the main breadwinner passing away. That’s why it’s so important to choose a life insurance policy that works for you, and brings you the best benefits and flexibility.

Understanding the different types of available insurance policies is vital, as it could make a big difference to the amount you pay in premiums, as well as how much the family will receive in the event of a death.

What Is a Guaranteed Universal Life Policy?

A guaranteed universal life policy is one of the best ways for seniors to get coverage for life, for the lowest possible cost. Whether you qualify will depend on your health, and your age. The main positive of a GUL plan is its ability to meet a wide range of budgets.

This type of plan is similar to a whole life insurance policy, but is made more affordable by gaining cash value in the initial years. This value is then used to offset an increase in premiums in the future. This is in contrast to a whole life insurance policy, which would continue to gain cash value, but requires higher premiums to be paid. A guaranteed life insurance policy is one of the most popular around, and will meet the needs of the majority of healthy people, but it isn’t the only insurance policy available.

The Benefits of a Guaranteed Universal Life Insurance Policy

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