Hello

Please I need some help here

I tried booking Ielts exams under general training and I saw the colomn asking for VAT/NIP number.

Who else knows what this means

Happy Independence day

Wishing our dear Nation a really true independence.

We pray for a Nation where peace and justice shall reign.

#newmonthwishes
#October1st
#happyindependenceday2022
#eleyiofrealestateinvestment
#smartinvestorsguide
#honeycrownproperties

WEDNESDAY DIGEST

In 93 days we shall be bidding year 2022 farewell.

How prepared are you to having a fulfilled last quarter of the year?

Here are six tips that’ll help you achieve this.

1. Practice daily gratitude .

2. Say goodbye to people and places that bring you down.

3. Pick a new skill and learn—it’ll keep your mind sharp as your body gets older!

4. Save for a down payment—you’ll be amazed at how quickly the cash adds up when you start thinking about it this way: “What can I save today?” instead of “How much do I have left?”

5. Invest in real estate— why not put that money you have into something that will pay off big time later on?

(Bonus: it also gives you something physical to point to when someone asks what your retirement plan is.)

6. Fail forward—learn from every mistake and keep pushing yourself harder than yesterday!

*PeeCee*

Note: Attached image has no correlation with the post.just digest the food first then you will be able to digest the writeup.

Thank you

#midweekmotivation
#wednesdaydigest
#eleyiofrealestateinvestment
#smartinvestorsguide
#honeycrownproperties

WEDNESDAY DIGEST

THE POWER OF F.O.C.U.S - (FOLLOW ONE CAUSE UNTIL SUCCESSFUL)

Focus is a very important subject that you must work into your life if you will make it in life and destiny.

✅Focus means concentrating and bringing all your attention to one issue.

✅It means channelling your energy in one direction to achieve a specific goal.

��There is little that anyone without focus can do.

��No one can maximize himself if he spreads himself out in many directions.

��Lack of focus can lead to time wasting and a waste of life.

The devil even wants to scatter your energy and resources so that little or no impact is made, but the power of focus is what makes a life impactful.

I want you to take time to seek God’s face for the most important things in your life that you need to focus on.

Don’t focus on the wrong things; that will be disastrous! There is a major stream of God in your life that if focused on, can affect generations positively.

Most people spread out their energy and resources and end up being mediocres. But if you bring focus into everything you do, you will emit great strenght.

To be a great leader you need focus.

There are three kinds of people that are guaranteed to fail:
1. a fearful person,
2. an undecided person and
3. an unfocused person.

Even if your strength or grace is small, you can maximize it and bring the world to notice you through focus.

Get focused on the most important things your life.

�Zero in on one thing and your life will become powerful.

�Employ the power of focus today and you will be astonished at the fruits your life will produce.

#massivesales
#wednesdaydigest
#focusedonmygoals

Epe is becoming a force to reckon with in the Real Estate investment circle today.

Epe is a link between ibeju-lekki in lagos state and Ijebu - ode in Ogun state.

It’s of no doubt that the industrialization in ibeju lekki will rub off on Epe.

And with the massive and amazing developments in Epe, it has been forecasted that over five thousand new families will be relocating to Epe within the next few years.

The newest of the developments are

LAGOS STATE FOOD SECURITY HUB AT KETU-EJIRIN AND THE PSYCHIATRIC HOSPITAL

Now with the commencement of these massive projects marshaled by the Lagos state govt in Epe town.

The Lagos state food hub is a first of its kind in the whole of West Africa.

This food hub is sitting on 1.2 million square meters of land and can accommodate storage facilities for more than 1,500 trucks that will help service the need of the people.

These facilities will attract experts, increase population and physical transactions among people and the use of heavy duty machineries and create jobs in Epe.

The present governor of Lagos state Mr. Babajide Sanwa Olu
recently flagged off the construction of the state-owned new psychiatric hospital in the same Ketu Ejerin.

These developments and many others will attract one thing, the influx of *PEOPLE* from all parts of the world, and when there is the migration of people from one place to another the need for accommodation is not negotiable and this is when your Real Estate investment will start paying off.

There is a wise saying that the best time to plant a tree was yesterday, while the second best time to plant a tree is today.

So if you have the privilege to know Epe in all its glitz and its endless possibilities now, this is an opportunity for you to start investing.

For more information on how to start your real estate investment journey in Epe , send us a mail via honeycrownproperties@gmail.com otherwise call 0 9 0 9 8 8 4 4 3 5 1 or click on the link here https:///jdwi57 to chat with us directly.

THREE AMAZING FACTS ABOUT THE DANGOTE REFINERY

Ibeju-Lekki is about to house the largest oil refinery in Africa at completion.

The project site is larger than Victoria Island.

It is located on 2135 hectares of land in Epe, Lagos near the Lekki Free Zone.

It is the largest single train grass roots refinery in the world with a processing capacity of 650,000 BPSD.

This facility is also poised to provide employment for over 30,000 people.

you sure knows what that means.

Increased demand for accomodation in that axis.

Ibeju-Lekki isn't called 'The New Lagos' for the fun of it, as just as some of our fathers are regretting not owning lands and properties in Lekki phase i, Ikoyi, Victoria Island when they had the opportunity to because they saw those areas as bushes/forest, so will some of us regret missing out on Ibeju-Lekki .

In addition to the Dangote refinery, Ibeju-Lekki also boast of mouth watering projects such as Lekki Tourist Centre, proposed 38km 4th Mainland Bridge, Pan African University, Lekki Free Trade Zone, Lekki International Airport, Lekki Deep Seaport and many more.

Demands for real estate is about to triple , prices are about to sky rocket...

What are you waiting for, buy the future now that it is still affordable, very soon IBEJU Lekki too will slip out of the reach of the average income earner.

Let's help you get a piece of the NEW LAGOS

We can be reached on 0 9 0 9 8 8 4 4 3 5 1

Or click on the link here

https:///jdwi57

#winningmindset
#dangoterefinery
#ibejulekkilands
#smartinvestorsguide
#honeycrownproperties

WEDNESDAY DIGEST

1. “Beware of the naked person who offers you clothes!

2. “When one’s goat get missing, the aroma of a neighbor’s soup get suspicious”.

3. “The future belongs to the Risk takers, Not the Comfort seekers!"

4. “A deaf husband and a blind wife are always a happy couple!"

5. “The first person you think of in the morning, or last person you think of at night, is either the cause of your happiness or your pain!"

6. “Be careful who you trust! Salt and Sugar are both white!"

7. “Kindness is like butter, it works best when you spread it around!"

8. “The walls don’t only have ears, they now see!"

9. “Sometimes, you have to play the role of a fool to fool the fools who thinks they are fooling you!"

10. “If you have a mom, there is nowhere you are likely to go where her prayer has not already been!"

11. “A harsh man tells a woman to stop talking, but a wise man tells her that her mouth is extremely beautiful, when her lips are closed!"

12. “No matter how long the night, the day is sure to come!"

13. “A woman’s greatest perfume is the fragrance of her man’s success, so also man !"

14. “A wise person knows that there is something to be learned from everyone!"

15. “It requires wisdom to understand wisdom".

16. The music is nothing, if the audience are deaf”!

17. “None of us is as smart as all of us. Let's work together to achieve!!!

Have a pleasant midweek

#togetherwecan
#wordsonmarble
#wisesayings
#wednesdaydigest
#smartinvestorsguide
#honeycrownproperties

Happy new week

WEDNESDAY DIGEST

6 Things you must never stop doing as a business owner!

1. Never stop delivering value!

Don't just be concerned about selling your products/service alone, ensure to add enough
Value to your audience.

This positions you as an authority in your field and in turn makes your customers trust you more.

2. Never stop your business publicity!

Major brands like apple, coca Cola never stop publicising their brands, why should you stop yours?

Add creativity to your publicity.

3. Never stop marketing!

What you do after making the first sale to a client determines
the growth of your business, therefore, prioritize marketing and be aggressive and shameless about it.

4.You should never stop innovating.

Innovation involves introducing new processes, services, or products to effect positive change .

This can include improving existing methods or practices, or starting from scratch.

5.You should never stop brainstorming new ideas for your business.

6.You should never stop improving your business.

Continuously improving in your business brings about ;

Improved product quality.

Increased efficiency and productivity.

Decreased cost.

Reduced waste.

Employee satisfaction and teamwork.

Customer satisfaction.

Thanks for reading �

Got value ? Hit the share button.

#wednesdaydigest
#smartinvestorsguide
#honeycrownproperties
#testedandproven

WEDNESDAY DIGEST

DON’T BE DISCOURAGED

I have this lesson from the bees, which I want to share with you today.

Research has made it known that to produce one pound of honey, the bee must visit 56,000 clover heads. Since each head has 60 flower tubes - a total of 3,360,000 visits are necessary to give us enough quantity of honey for breakfast table.
Meanwhile, by implication, that worker bee has flown the equivalent of 3 times around the world to produce a tablespoon of honey for medicine or meals, the little bee makes 4,200 trips to flowers! It makes about ten trips a day to the fields, each trip lasting 20 minutes on the average, and 400 flowers!

A worker bee will fly as far as 1 kilometer just to find a ripe flower.
This is incredible!
This is real work!

This means the mystery of the bee is that of hardworking, diligence and persistence.
If an ordinary tiny bee can endure and go through this rigour to produce a spoonful of honey.

Three things are suggested:

1. There is no alternative to hardworking and diligence.

2. The fact that a thing is hard does not mean it cannot be done.

3. To scale through life successfully, persistence and endurance are required.

Therefore, when you are feeling discouraged or feeling lazy or low, always remember the bee.
� To fly high in business you will need the wings of persistence.
� To climb higher in your career, you will need the ladder of determination.

Always remember the bee anytime you feel like giving up.

A little extra effort can turn that venture into a profit making one.

Do not give up��‍♀

Peecee

The earlier you buy real estate the better for you.

It's more affordable when it's still bush.

The more you delay till development comes there, it would have become very expensive and probably out of your reach.

Let's help you get started now

Click the link in the comments section to connect with us

© Olubusayo Akin-Akinbode
Real Estate and Investment Consultant

#makemoremoney

Happy new week

Being good with money is more than just making ends meet.

Are you struggling with money management issues such as living paycheck to paycheck despite making more than enough money, then here are some tips to improve your financial habits.

Cheers to your financial wellness.

#fridayfinancialwellness
#Nigerianbusinesses
#smartinvestorsguide
#honeycrownproperties

Happy new week

Wishing you an abundance filled week

It has been confirmed that up coming rains will be heavier than what we have experienced so far for the remaining days in July and part of August with accompaning severe cold.

let us embrace prevention rather than control.

1. Do not sleep under the fan or AC henceforth,to avoid clogging of lipids in your aortal cycles that could lead to blocking of blood flows into and out of the heart.

The result of which is ..... arrest(God forbid).

2. If you live in a house with tiled floor, always put on foot wears(slippers) to avoid cold entering your body via the feet and at bed time, put on thick stockings till the day is warm enough because humans by nature are poikeletomous.

3. Avoid cold drinks of any sort, go warm.

4. Do not leave your body(especially the chest region) bare because our body is porous and the hair strands attract cold waves.

5. Kainkain and cigarettes does not drive cold rather the smoke block your arteries inhibiting the flow of blood molecules.

Extend same to our children.

6.Avoid red meat and saturated fatty foods.

Cheers to a healthier you.

N B : The food picture has no correlation with the post, it's just to tantalize your virtual taste bud, kindly resist the urge to lick your screen.

#socialmediamarketing
#ThoughtfulThursday
#healthtips

SEVEN PRINCIPLES OF THE EAGLE

PRINCIPLE 1

Eagles fly alone at high altitude and not with sparrows or other small birds.

No other bird can get to the height of the eagle. Stay away from sparrows and ravens.

Eagles fly with Eagles.

PRINCIPLE 2

Eagles have strong vision. They have the ability to focus on something up to five kilometers away.

When an eagle sites his prey, he narrows his focus on it and set out to get it.

No matter the obstacles, the eagle will not move his focus from the prey until he grabs it.

Have a vision and remain focused no matter what the obstacle and you will succeed.

PRINCIPLE 3

Eagles do not eat dead things.

They feed only on fresh prey.

Vultures eat dead animals, but eagles will not.

Be careful with what you feed your eyes and ears with, especially in movies and on TV.

Steer clear of outdated and old information. Always do your research well.

PRINCIPLE 4

Eagles love the storm.

When clouds gather, the eagles get excited.

The eagle uses the storm’s wind to lift it higher.

Once it finds the wind of the storm, the eagles uses the raging storm to lift him above the clouds. This gives the eagle an opportunity to glide and rest its wings.

In the meantime, all the other birds hide in the leaves and branches of the trees.

We can use the storms of life to rise to greater heights.

Achievers relish challenges and use them profitably

PRINCIPLE 5

The Eagle tests before it trusts.

When a female eagle meets a male and they want to mate, she flies down to earth with the male pursuing her and she picks a twig.

She flies back into the air with the male pursuing her.

Once she has reached a height high enough for her, she lets the twig fall to the ground and watches it as it falls.

The male chases after the twig. The faster it falls, the faster he chases it. He has to catch it before it falls to the ground.

He then brings it back to the female eagle.

The female eagle grabs the twig and flies to a higher altitude and then drops the twig for the male to chase.

This goes on for hours, with the height increasing until the female eagle is assured that the male eagle has mastered the art of catching the twig which shows commitment.

Then and only then, will she allow him to mate with her.

Whether in private life or in business, one should test commitment of people intended for partnership.

PRINCIPLE 6

When ready to lay eggs, the female and male eagle identify a place very high on a cliff where no predators can reach.

The male flies to earth and picks thorns and lays them on the crevice of the cliff, then flies to earth again to collect twigs which he lays in the intended nest.

He flies back to earth and picks thorns laying them on top of the twigs.

He flies back to earth and picks soft grass to cover the thorns.

When this first layering is complete the male eagle runs back to earth and picks more thorns, lays them on the nest; runs back to get grass to put on top of the thorns, then plucks his feathers to complete the nest.

The thorns on the outside of the nest protect it from possible intruders.

Both male and female eagles participate in raising the eagle family. She lays the eggs and protects them; he builds the nest and hunts. During the time of training the young ones to fly, the mother eagle throws the eaglets out of the nest.

Because they are scared, they jump into the nest again.

Next, she throws them out and then takes off the soft layers of the nest, leaving the thorns bare When the scared eaglets again jump into the nest, they are pricked by thorns.

Shrieking and bleeding they jump out again this time wondering why the mother and father who love them so much are torturing them.

Next, mother eagle pushes them off the cliff into the air. As they shriek in fear, father eagle flies out and catches them up on his back before they fall and brings them back to the cliff.

This goes on for sometime until they start flapping their wings.

They get excited at this new found knowledge that they can fly.

The preparation of the nest teaches us to prepare for changes.

The preparation for the family teaches us that active participation of both partners leads to success.

The being pricked by the thorns tells us that sometimes being too comfortable where we are may result into our not experiencing life, not progressing and not learning at all.

The thorns of life come to teach us that we need to grow, get out of the nest and live on.

We may not know it but the seemingly comfortable and safe haven may have thorns.

The people who love us do not let us languish in sloth but push us hard to grow and prosper.

Even in their seemingly bad actions they have good intentions for us.

PRINCIPLE 7

When an Eagle grows old, his feathers become weak and cannot take him as fast as he should.

When he feels weak and about to die, he retires to a place far away in the rocks. While there, he plucks out every feather on his body until he is completely bare.

He stays in this hiding place until he has grown new feathers, then he can come out

Learn to keep your plans to yourself. Build in silence and let your results announce you in public.

Let us study the ways of the eagle and be willing to apply this principles in our lives.

Good Morning And Have A Blessed Wednesday��

PeeCee

#openforbusiness
#wednesdaydigest
#smartinvestorsguide
#honeycrownproperties

Happy new week

Happy new week

WEDNESDAY DIGEST

UNDERSTANDING PROSPECTING

"Selling to your mother is not prospecting" Mark Hunter

A prospect is a person or organization that has the financial ability to pay for your product, service or idea but has not made a financial commitment yet.

Since making sales is about two parties exchanging value,it means that the lifeblood of a salesperson or sales organization is in the number and quality of prospect they have.

The more prospect you are engaging, talking to or having meeting with,the higher your probability of converting some of them into paying customers.

Like the legendary real estate sales coach, Tom Ferris, put it: " It's better to have ten lousy sales meetings than no meetings at all because you just might sell one".

Sales is about numbers

Selling is mathematics. The reality is that not everyone you talk to about your product will buy from you during the first conversation and some won't even buy from you at all.

To get YES customers, you will go through a couple of NO customers

Knowing this , it's important to determine from the onset how many products and services you want to sell then determine the number of people you will have to talk to achieve your sales target.

For example, if you spoke to or presented your product/service to one hundred people in one week and twenty paid, that means you have a sales conversation or convincing rate of 20percent.

Therefore,if you want forty people to buy your products, how many people will you talk to or make presentations to? Two hundred!

To achieve this,you need to focus and invest your effort on prospect-generating activities because more prospecting increases your possibilities of success in sales.

*Thanks for your time�*

*Hope you got value, do well to hit the share button.

*PeeCee*

Epe Is fast appreciating in value because several companies are investing due to the proposed and ongoing development.

Also, Epe is favorably situated close to the city center,

The Alaro city which covers more than 2000 hectares of land in the Lekki free trade zone. The Alaro city has areas for warehousing, schools, hotels, offices, and healthcare facilities


Epe boasts of colleges and universities which gives investors an idea of what they can do with the property. This has led to the construction of educational-related infrastructures like hostels, restaurants, and many more by investors.


Epe also boasts of good road networks: Epe road network is known to connect to Ikorodu and Itokin, also to Ijebu Ode. You can see that owning a property in Epe is a keystone to wealth creation.
Land in Epe is cheap:

Since Epe is a developing area of Lagos state with good road networks, landed property is fast appreciating.

If you are a middle class and looking for a more habitable and serene location to invest in Lagos state,

Epe is your best bet. Cost of labour is relatively cheap than other part of the state. Unlike Lekki and Ajah axis which are sometimes affected by flood when rain falls, Epe boasts of land with dry topography.

Owning more than a landed property in Epe is a good investment because the development in this location is still positively affecting properties. So, if you have already had multiple investment in Epe, then you are to be among one of the investors that will be enjoying a high return in the future.

So do not snooze because the best time to Invest is now.


Contact us at HoneyCrown properties and Investment via honeycrownproperties@gmail.com otherwise call 09098844351, let's help you get a piece of Epe

WEDNESDAY DIGEST

STOP MARKETING TO THE WRONG PEOPLE

You want to sell cream for people with bald head , you need to look for their association Instead of talking to the people with plenty hair and they don’t know what to do with it .

Focus on the WHO before the HOW.

Who got the money.

Who got the problem that my solution can help?

Target market is a question of WHO not HOW .

Your marketing may be failing because you are marketing to the wrong people .

Imagine using ice cream to catch fish. That is wrong targeting.

If you know what you want to catch , you would know the bait for attracting it .

Check your business . WHO are you targeting ?

You can’t say everybody . That is a failing answer .

Narrow is the way that leads to profit . Broad is the way that leads to loss.

In a generalized market , the specialist win.

Find your niche and dominate it.

Peecee

5 REASONS PEOPLE NEVER BECOME RICH

SCARCITY MENTALITY

TIME CONSTRAINT

DOUBT

OVER ANALYSIS PARALYSIS

IT'S A SCAM MENTALITY

Cheers to your financial wellness

#fridayfinancialwellness
#visibilityhub
#smartinvestorsguide
#honeycrownproperties

WEDNESDAY DIGEST

STRATEGY TO INCREASE SALES

*� Increase Sales by Investing in Yourself*

Improving your ability to sell and convert interested prospects into paying customers is one of the most important things you can do to boost sales.

There are many parts of the selling process and improving in even one of them can have a dramatic impact on your results.

*� Attend Sales Trainings*

Some people are naturally good at selling; they can easily connect with a customer, find common ground, understand their desires, and persuade them to purchase their product.

These skills don’t come easily to everyone, though.

In fact, the majority of salespeople have to learn, practice, and hone these skills over time to become successful.

Even if you’ve worked hard to become the salesperson you are today, you’re never done learning.

Sales training can open your mind to new opportunities others have seen success with, allow you a chance to network with other creative salespeople, and even generate new leads or partnerships.

*� Learn How to Negotiate*

At some point in your sales journey, you’re going to run into someone who wants a lower price or additional benefit, or a situation where you’ll have to compromise.

Learning how to negotiate can not only help you improve your relationship with your customers but can also help you drive more sales.

The best negotiators look out for their customer’s best interests and find a solution that works for both parties.

*� Develop a Prospecting Strategy*

The best salespeople have a plan to develop the highest quality and quantity of prospects that can and will buy within a reasonable period of time.

Prospecting is an essential part of successful sales strategies and something you need to prioritize if you want to increase sales.

*With these sales strategies, you will be well on your way to growing sales and increasing profits.*

*Thanks for reading�*

Do well to hit the share button if you got value.

#wednesdaydigest
#smartinvestorsguide
#honeycrownproperties

Happy new week

FRIDAY FINANCIAL WELLNESS

SOME OF THE BIGGEST MONEY MISTAKES YOU SHOULD AVOID

❌Never Loan Money to Friends and Family You Can’t Trust

“It is hard to say ‘no’ to friends and family who ask to ‘borrow’ money, but there is very little upside to doing this,” said Kirk Chisholm, a wealth manager with Innovative Advisory Group.

“Sure, you might get your money back, but do you really want to pester them to get it?

The bigger question is, what if they don’t pay you back? Are you OK with saying goodbye to that money?”

Think long and hard before you give your money away to a friend or family member.

Otherwise, in the event that you don’t get your money back, your relationship with them might suffer.

❌ Never Spend Money on Things You Don’t Really Use

“It’s mind-boggling the amount of money people waste on things they neither need nor use,” said Elledge.

“Whether it’s buying a fancy phone they have no idea how to use, buying an extended warranty on a product that already comes with a warranty, or even purchasing groceries they forgot are sitting in the cupboard at home, it’s wasteful spending.”

Instead, Elledge suggested you should stick to buying items you actually need and use on a daily basis, and “you may find a lot more money in your monthly budget.”

❌Never Invest Money You Can’t Afford to Lose

“Every investment carries a level of risk, and you should be prepared to face the worst-case scenario every time,” said Pauline Paquin, personal finance expert and founder of ReachFinancialIndependence.com.

“Do not invest money that would compromise your financial well-being if you lost it … One financial mistake can be devastating.”

❌Never Buy an Investment That Sounds Too Good to Be True

“You should never purchase an investment you do not understand or sounds too good be true,” said Joseph Carbone, a certified financial planner with Focus Planning Group.

“If it sounds boring, then it’s probably a good investment.”

Often times, those too-good-to-be-true investments are expensive and illiquid, he said.

Staple investments — such as stocks, bonds and certificates of deposit — might be better performers.

❌Never Sign a Contract You Don’t Understand

“You can commit yourself financially for a very long time, and at a very high cost, by signing a contract you don’t understand,” said Elledge. “If you don’t understand what you’re committing to, don’t sign.”

It’s a good idea to have an attorney review any contract you’re considering.

And the excuse of wanting your lawyer to review the agreement is always a good way to escape a high-pressure pitch to sign something.


Cheers to your financial wellness

Got value?, Do well to hit the share button.


© Olubusayo Akin-Akinbode
Real estate and Investment Consultant

It's a June to Jubilate!!!!

A New Month and the last in this second quarter. May You Never Have A Reason Not to jubilate This Month.

Welcome to your best month so far.

From allofus @ Honey crown properties and Investment.

© Olubusayo Akin-Akinbode
Real Estate and Investment Consultant

Happy new week

FRIDAY FINANCIAL WELLNESS

7 STRATEGIES TO CONSIDER WHEN LENDING MONEY TO FAMILY AND FRIENDS

1. LEND ONLY WHAT’S NEEDED

Before you seriously consider lending money to friends and family, first find out how badly they need the loan. Never lend a buddy more than the price of a meal for something that’s not essential. If they lack the financial discipline to save for whatever it is they want money for, it’s a huge red flag indicating that they’re unlikely to pay you back as promised.

This rule doesn’t just apply to whether or not they need the thing they want to buy. It’s a good idea to help your friend or family member brainstorm ways they can accomplish their goals without borrowing money. Maybe you have skills or time you can lend them instead of cash. For instance, you could help them come up with less expensive ways to get what they want. Maybe all they need is a second set of eyes on their situation to help find a plan that works, without going into debt.

Bottom line: Don’t lend them money unless it’s necessary.

2. START WITH A PLAN

Friends and family loans are the loans people are the most likely to default on, in part because friends and family won’t slash your credit rating — but also because most friends and family loans are informal. The lender hands over some cash and the borrower promises to pay it back, but nothing else is set up to keep the borrower accountable. This can lead to slower payments or no payments at all, dulling the edge of your relationship as one party gets embarrassed and the other gets resentful.

Instead, start the loan with a detailed arrangement of how it will be repaid. When is the repayment due? Will there be installments? If so, when? When you’re making the plan, find out what will change in the borrower’s financial situation to allow them to make those payments on time.

Bottom line: If you set up the loan like a regular business transaction, the borrower will be more likely to treat it with the importance and urgency of a traditional loan.

3. CHARGE INTEREST

Not every person feels comfortable lending money at interest to friends and family, but even a small interest rate can keep things feeling businesslike, add urgency to the borrower’s repayment schedule, and help the lender feel a little better about the whole situation. Before lending money, make a reasonable interest rate part of the plan you set for the loan repayment.

“Reasonable” varies from person to person. You don’t want to gouge the borrower, but you don’t want to charge too little interest, making it an ineffective motivator. Two of the most common and useful ways to set the rate include:

Set the interest rate to match what the money would be earning in your investment accounts. For example, if you took it out of funds for a 2.5% CD, charge 2.5%.

Give a discount compared to what the borrower would pay by borrowing the money from a bank. For instance, if their best offer was a line of credit at 12%, cut it in half and charge 6%.

It’s also reasonable to increase the interest rate after a certain date, raising it by 1% to 2% if the promised payoff date passes and the loan isn’t repaid.

4. SET UP A DEFAULT

This strategy comes in two parts. First, before you even consider lending the money, run the numbers, and see what will happen to your financial situation if you never see that money again. Second, come up with a plan if the lender defaults on the loan.

For the first part, just run your personal budget for the coming year and make sure you can afford to lose the loan entirely (more on that later). Do this on your own before the conversation even begins with your friend or family member.

For the second part, sit down with the person asking for money and ask what they will do if they can’t repay you. Don’t take “I’ll pay you” for an answer. Things could change. Come up with a mutually agreeable plan for what will happen if they can’t pay you back. Can they offer collateral? Can they come “work off” the debt by mowing your lawn or babysitting? Get creative.

5. GET PAID FIRST

If you’re setting up an installment plan for repayment, set the due dates for each payment as close to the borrower’s payday as you can. It’s easy for people to get paid, cover their bills, have a little fun, then not have enough money left to pay you back.

By contrast, if you make sure they’re paying you as soon as they get their check, it will be their luxuries and discretionary spending that takes the hit. They might buy fewer beers or miss that one concert, but your loan — and your relationship — will be safer.

6. WRITE IT DOWN

None of what we’ve talked about so far does much good if it’s all a verbal contract. People often remember things (especially details like dates and interest rates) differently. Worse, if one person’s memory is different, things could get stressful, and the relationship could suffer tremendously as a result. Misunderstandings related to money can escalate an already tricky situation into seriously bad blood.

You don’t need a formal contract, but a bullet list in a Word document or Google document — where people can look up changes by date and who made them — can cover all the bases. Make sure the document includes at least the following:

The original loan amount

The rate of interest

When interest accrues

Each expected pay date

The amount expected at each pay date

What happens if a payment date is missed

What happens if they default on the loan

This gives you a written record of your agreement, and you can reference it any time there are issues with the loan.

7. KEEP YOUR DISTANCE

With a loan in place, it can be tempting to watch the borrower’s spending and buying habits until you get your money back. This is never a good idea. It builds resentment on both sides, with you getting mad if the borrower spends money on optional extras, and the borrower getting resentful that you’re in their business.

Step back and remember to treat this loan as a business transaction. Your bank and credit card company don’t try to shame you because you had two beers with dinner or bought a new car. They just collect their money and remind you if you miss a due date.

It’s fine to ask about payments when they’re late or even to check in and make sure they can make the first few payments on time, but otherwise, don’t mention it. Keep that part of your relationship separate.

FINAL THOUGHTS

One last thing to keep in mind: never lend money you can’t afford to walk away from. There’s an old saying: “If you lend somebody $100 and never see them again — that’s money well spent.”

Losing a loan of some spare funds you had lying around is disappointing, but doesn’t harm you. However, losing money that you were counting on for later, or counting on a loan repayment by a specific date, sets you up for serious harm both to your financial situation and your relationship with the borrower.

If you do decide lending your money to your friend is not something you want to do, you guys have options. First, you can just give your friend the money – call it a gift. You can also provide them other options, for example they could have to get a car title loan in San Diego, borrow against their credit cards, sell some of their stuff or otherwise raise short term cash.

Finally, if you can’t afford to lose the money, you can’t afford to lend it.

Have you ever loaned money to a friend or family member?

What has been your experience?

Cheers to your financial wellness

© Olubusayo Akin-Akinbode
Real Estate and Investment Consultant

#enterprisefriday
#visibilitytrain
#fridayfinancialwellness
#smartinvestorsguide
#honeycrownproperties

Happy new week

Friday financial wellness


You want to boost your financial wellness? then start investing in these 4 assets.



Cheers to your financial wellness


© Olubusayo Akin-Akinbode
Real Estate and Investment Consultant

WEDNESDAY DIGEST

STRATEGIES TO INCREASE SALES CONTD

On our today'episode of Wednesday Digest, we will continue.on strategies to increase sales.

�Increase Sales by Connecting with Your Customers

Establishing trust with your customers is key to ultimately persuading them to purchase what you’re selling.

Even in an increasingly virtual world, there are many ways to connect with your customers, establish trust, and gain influence.

Here are three ways to improve sales by connecting with your customers.

�Utilize Social Media

Social media is a free space where you can connect with your customers daily.

If your customer is using social media, you need to be using social media.

This will keep you top of mind when they consider what they want or need to buy.

As you use social media posts, such as photos, videos, and captions, be sure to provide valuable information; avoid talking “at” your customers and instead try to teach them or explain something to them that is in line with what your product or service is all about.

You can also use social media as a space to show proof that your product or service actually works, such as before and after statistics, photos, or testimonials as well as videos of the product or service at work.

Don’t forget to respond to comments and answer questions.

This is an amazing way to help sell to new leads.

Remember to be friendly and conversational as you approach your customers and potential customers in this space.

If you use it correctly, you can establish trust and increase your leads.

�Promote “Insider Information”

Everyone loves a good deal, and when they feel like they have the inside scoop on an upcoming sale, or receive early access, your customers will develop greater trust in and loyalty to your business.

They may even buy more because of it.

This doesn’t only go for sales and special offers.

Keep current and repeat customers in the loop with upcoming launches and business news too, and soon, they’ll develop a vested interest in the business. ​​

�Maintain Relationships

“Once a customer, always a customer” — this should be your motto if you want to learn how to increase sales in business.

Once a customer has purchased your product, it should not be the end of your interaction with them.

Focus on maintaining a strong relationship with your customer by making them feel valued so that they stick around, and get others to become customers as well.

A forever customer will do more for your business than 10 one-time customers.

�Implement a Referral Program.

Everyone wants to feel appreciated, and a great way to make your customers feel valued is to reward them for referring their friends and family members.

Use future discounts, rewards points, freebies, special access, etc. to incentivize current customers to hold the flag for you.

Not only will this help maintain your relationship with your customers but it will also help you gain new leads who are more likely to purchase because they received a direct referral, all without any additional effort on your part.

�Increase Sales by Providing Value

At the end of the day, you’re selling something that provides value to someone else in some way, shape, or form.

If your potential customers don’t know what that value is, they won’t buy from you.

By highlighting why and how your product offers value, you can boost sales and also inspire confidence.

This is how to sell a product.

�Sell the Benefit, Not the Product

People don’t buy products, they buy the results that the product will give.

Remembering the “help” not “sell” mentality when marketing and selling your product or service will help you focus on its benefits.

When you seek to first help others, it comes across as more genuine rather than pushy and just looking to make a quick buck.

Plus, it reminds your customers of the value your product or service provides.

�Increase Sales by Presenting the Product Effectively

Presenting your product effectively will help you increase sales by increasing conversion rates, the rate at which you convert leads into paying customers.

Your conversion rate is the measure of the effectiveness of your sales efforts.

In order to help drive conversion rates, you need to work on developing your pitch in a clear and effective way.

To enjoy the concluding part of this piece, keep tabs on my next episode of Wednesday Digest.

#saleshacks
#visibilitytrain
#werisebyliftingothers
#smartinvestorsguide
#honeycrownproperties

Happy new week