Jan22
So how can you tell if your amazing new product really is worth gambling on? The truth is, you can never be 100 percent certain that your idea will sell. No matter how enamoured you are of it or how much your friends rave about it, the success of a new idea depends on numerous factors, many of which are beyond your control.
The most important factors that can affect the success of a new product include:
The viability of the product idea: Is this really a valid product idea that has the potential to generate revenue or just an epiphany that would be best forgotten? This factor is very crucial as viability of the product forms the basis of its introduction.
The people behind the idea: The right team can make all the difference. With the right kind of people in the team, one can be sure of the product’s success.
The resources required to take the product from the drawing board to the first round of funding: Do you have the perseverance, the knowledge, the contacts, the capital (from family and friends) and a hundred other things required to take your idea from drawing board to delivery?
The demand for such a product in the marketplace: Will this product fill a need or satisfy an itch?
The competition: Is the market already crowded with competitors? If so, what will it take to move your product ahead of the pack?
The best advice when it comes to amazing new product ideas are, it’s best to follow your head and not your heart.
Jan22
Commercial property investment has long provided golden opportunities for large investors and corporations, but now small, savvy investors are in a strong position to snap up hot deals, thanks to the growth of online lending and previously inaccessible countries opening their doors for business!
However, potential investors need to take their time and not rush into buying property for all the wrong reasons – remember the old adage, if it sounds too good to be true, it probably is!
The first step any investors should take may sound obvious, but ignore it at your peril! That step is: Develop a sound investment strategy before even looking at the market.
Commercial real estate investment is a slow path to creating lasting wealth which requires patience, planning and persistence.
When developing an investment strategy you need to:
* Ensure your personal affairs are in order – get rid of consumer debt and start building wealth. Check your credit rating to ensure it is clear. Remember though, commercial financing will be decided on the deal, not your credit rating.
* Create a selection criteria list for property type, size, location, the what skills required to manage the property and whether these fit your skills – work to your strengths rather than try and change to fit a property.
* Study the market, learn to spot opportunities which match your requirements, get to understand the financing process, then be prepared to act quickly, if all your plans are in place. If it really is a good opportunity, other investors will also recognize this and it is usually the best prepared who wins.
*You must have a genuine interest in commercial property investment as it takes continuing study to stay on top of the market. You need to be able to accurately value a property based on its condition, your return expectation, and your borrowing power.
*The bottom line consideration is not the price of the property, or any perceived value, but what the property is worth to you, given your investment strategy.
The second key element to successful property investing is to select a good advisory team, which should include an experienced real estate agent, lawyer, tax advisor, and loan officer.
With this expertise on hand, you can move quickly – knowing which properties to ignore and which are worth considering. A good property deal will be fast moving and you want to be on top of it!
Of course, you need finance to close a deal. The online commercial finance lending industry is booming and if you have a sound proposal, investors have money to lend!
Increasingly, investor pools are prepared to underwrite commercial property ventures – worth many hundreds of millions of dollars - with no credit checks, no complicated documentation, and no income verification.
Basically, they will lend money based on the overall merits of the project and the Loan-to-Value ratio.
With non-conforming loans, typically up to 90% of the value of the project can be borrowed, depending on the project type