Make Political Donations Part of Your Financial Plan

Do you make giving to politic47152wn6unnf73bal campaigns part of your overall financial plan? Government plays a critical role in our daily lives. The scope of that role can include monitoring the quality of the air that we breathe, maintaining the strength of the military that protects us or funding the care provided by Medicare and Medicaid. Government also strikes partnerships with the business community to help meet our collective needs.

What do You Want Government to Do?

For many Americans, the critical role of government and their relationship with business is a great association. They believe it’s a link that should continue into the future and evolve to meet the countless needs of our democracy. Others however think that role should be reduced as much as possible.

Whatever a voter’s belief in the role of government, it is a system that needs financial support. Support that is needed at the local, state and federal level.

Plan Political Donations like other Life Goals

Like planning for college, retirement or starting a business, political giving can fit in the financial planning of American voters. The giving can be done on a periodic basis or on an occasional basis. Regardless of how it’s done though putting together a plan with a financial advisor can go a long way in enhancing not only the lives of the giver but the efforts of the candidate they support.

Contributors can look for causes they care about. A strong business focus, caring for the homeless, reducing taxes or insuring that everyone is covered by medical insurance. Whatever the cause, supporting candidates that believe in those causes can add a lot to the overall satisfaction of the donor along with our democracy.

Choose How Much to Donate and When

Once donors have chosen the campaigns to contribute to they can decide on what the dollar amount will be on a regular or periodic basis. That amount of course should work within the overall financial budget. If not financial problems could develop down the line.

Again, this support can start at the school board level or it can go as far as a national campaign. The important part is to keep in mind that elected officials also respond to those who donate to their campaign. By giving on a consistent basis voters can let their voices be heard.

Political donors throughout the country care about a number of issues that affect our society in either a small or big way. The best way to have their voice heard is not only contacting their politicians but also giving to their campaigns. When it comes to having an overall financial plan to do that, once necessary bills are paid, giving to political campaigns can help enhance the life of not only the giver but the politician that is receiving the donation.

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Journey of a Business Startup

 

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Starting a business is a rewarding and challenging experience. It allows you to be very creative in the way you operate your business and the way you deliver value to your clients. Starting a business also allows you to take control of your life and determine how you will make your living. It does come with challenges, however.

Locating a Space for the Business

In starting my business I came across a number of hurdles I had to overcome. For starters, I had to search for the right location. Embarking on that process meant that I had to look at more than 100 locations in a number of cities to find the right place. I was looking for the area that had the right visibility, rent costs and potential customer income; all very hard criteria to match up. Yet it was work that had to be done as the cornerstone for building the business.

What is the Business Brand Identity?

Another challenge I had to overcome was brand name recognition. Now starting off I was working with a franchise company that had a number of brands under its direction. In starting out I had every intention of working with one of those brands. I did everything in the process up until actually sending the franchise fee to enter into the franchise as a franchisee.

Then one day the parent company decided to just simply discontinue the franchise I was considering. That was never in my business plans. Frankly I had never really thought about it and never even heard about something like that happening in the franchise world. Clearly I needed to do more research in that area.

So I had a decision to make: do something else or create my own brand name. That’s when I had a good conversation with a dear friend of mine. She had never believed in the overall franchise model in the first place, so she immediately said, “Go and do it with your own brand name.” That’s what I did.

Financing Challenges of a Business Startup

Still another hurdle was financing. After the mortgage meltdown, credit received from any bank is tough to get under the best of circumstances. For a startup business it’s just not going to happen. The banks have no cash flow history to go by so they are very hesitant to lend. They may make expectations if there is collateral to get if the business should go under. But those opportunities are few and far between. They want good credit, good cash flow and good collateral. Again, three things that a startup by its very nature doesn’t have.

So out came the credit cards, retirement savings and backup from family members. That’s when the feasibility of a marketing plan comes into stark focus. An owner will examine it a million times to see if there are any holes in it and look to plug them the best way they think. But it’ll never be 100% until the doors open.

These are just some of the challenges that a business startup will confront. Through these examples, you can see that starting a business is a series of challenging experiences which the owner or owners will need to overcome. Some of those obstacles will be obvious and anticipated, while others will be completely unforeseen. The best that a business owner can do is plan for both.

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