Glen Gould Online

Author: Glen

  • 5 Vendors Who Can Help You Build Business Credit

    Many companies learn the hard way when it comes to business credit scores and indexes (Dun & Bradstreet, Experian, Equifax, & more)– they don’t pay attention until it stands in the way of opportunities and some don’t even know they are losing partnerships and new business due to poor or less than competitive credit scores/indexes.

    On the other hand, business owners/managers who do consider their business credit scores may hit a wall when it comes to building them. Reason being many vendors do not report payment information at all to the business credit bureaus – you could be using a great vendor for 10 years and have no idea that they have never reported your excellent payment habits. To find vendors who do report you must go through the timely process of researching the vendor’s procedure toward reporting payment data.

    To help open the door for you, below are 5 starter vendors who will report your payment information.

    Before we go there, make sure to follow all the steps to business credit building and establishing. There is more to having strong business credit than paying on time.

    · Incorporate your business: To build credit your business much be a legal entity.

    · Set up your EIN and DUNs numbers.

    · Open business bank accounts.

    · Establish a location and toll-free number for your business.

    · Start a website and develop your online presence.

    · Have a business email address rather than a generic free email.

    Vendors and creditors often prefer doing business with companies that have a physical address – PO Boxes can increase the risk of fraud. They also like to see that a business has online exposure.

    It’s also important to understand that when you start building business credit your credit history will be very young, and it is crucial that you pay all the accounts at or before terms. You want to make sure that you’re building strong credit scores and if you fall delinquent on these immature accounts they will have a significant negative impact.

    1. Staples – An office supplies retailer, they provide multiple types of business accounts that are catered to the size, capacity, and region of the business. Wells Fargo underwrites and finances every line of credit for Staples – if you have business credit they will look at Dun & Bradstreet and check basic information like the company’s online presence, tax information, and location. For smaller companies with limited credit history, Staples will usually offer a $1000 Net 30 line of credit for starters. They report back to Dun & Bradstreet.

    2. Uline – A distributor of industrial goods and packaging supplies, you can establish Net-30 payment terms with Uline by filling out their Credit Application, it will ask for your DUNs number and business bank account information. They will check credit (if you have any) from Dun & Bradstreet. If they find that your credit history is too limited to determine the line amount – they may ask you to prepay for the first order or have their credit department work with you to get approved. They report back to Dun & Bradstreet.

    3. Quill – a retail supplier of office supplies, they pull credit information from Dun & Bradstreet. If your business has no or limited credit, they will request that you pre-pay for 90-days before establishing payment terms. After those 90-days they will review your credit again and set up Net 30 terms with a credit line based on your expenditure over those preliminary 90 days. They also offer an “Installment Payment Program” that allows you to pay your invoice in 6 payments with 0% interest. They report back to Dun & Bradstreet.

    4. Grainger – An industrial goods supplier, they sell products including but not limited to – paint, safety equipment, lighting, and plumbing. They offer an open line of credit to customers and report payment information automatically to one of the largest business credit bureaus. For new companies with limited credit history they will often offer a $1000 line of credit to start, then increase it upon request and with a demonstrated history of good payment habits. They report back to Dun & Bradstreet.

    5. Strategic Network Solutions – An information technology service company, they report credit information to two of the major credit bureaus and are another great vendor to start building credit with. They provide an online credit application for businesses (linked below) – create a username and provide company information including the legal structure of the business, the companies tax identification number (EIN), DUNs number, annual revenue, and number of employees. It will then ask personal information on the officer of the company.They report back to Dun & Bradstreet & Equifax.

    Keep your personal credit safe

    There are many advantages to having business credit, one being that you can eventually avoid using your personal credit to guarantee loans. Keeping your personal credit separate means, you can limit personal liability on business expenses – which should be of great concern to business owners. Business credit building will benefit you both professionally and as a consumer by separating transactions and accounts.

    The world of business credit reporting has a separate landscape from personal credit; it’s best to speak with a professional about your business credit. If you’ve been an active company for 10 years and have never paid attention or noticed your business credit we can help you find out whether you have scores and guide you on the best way to proceed. If you just started your company and are looking to be proactive we can also provide you with resources and services that can help to steer the new business by making you more attractive to partners, new accounts, lenders, vendors, and creditors.

  • MOBE on Fire Where Is Matt-Lloyd

    MOBE on Fire Where Is Matt-Lloyd

    According to the legal notice, everything will remain suspended until June 26th and they have a hearing to address the complaints.

    “We wish to put on record our dispute with recent actions taken by the FTC against MOBE Inc, including the takeover of all websites and a disruptive halt to business. We further claim and put on record our support for MOBE, Inc, its CEO Matt Lloyd and ask that a swift and timely resolve come upon this matter.”

    👨‍🏫I am an affiliate within the Super Affiliate Network where we offer similar training and programs but has more of a community feel.

    You can check it out here if you missed it on my blog: http://smarturl.it/super-affiliate

    🙅🏾‍♂️I sure you might be cautious with these types of programs so an alternative is using Affiliate Business in a Box Toolkit.

    This will help you start your own program and you can have more control over your business, products, and services.

    You can get a review copy here: http://smarturl.it/businessbox it’s free.👨‍🏫

    When you go to the #MOBE it leads to the legal receiver.

    This is the link to the formal complaint just released today:

    http://www.bernet-receiver.com/appointment/mobe/Complaint.PDF

     

  • John Chow Joins ClickFunnels

    John Chow Joins ClickFunnels

    John Chow switches over to promoting ClickFunnels. (Video Below) This pot started boiling last week and this is just more spill over as things develop. Just last week John Chow announced how much money he made using the MOBE program. He did a 20-minute video where showed his back office and talked about the money he made in May 2018 alone.

    John Chow made close to $90k in May 2018 alone in MOBE and now that the company is closed down he needs to supplement that income with another high ticket program. ClickFunnels is his vehicle of choice as of this post.

    John Chow Mobe Income

  • Mobe Closed and Under Investigation

    Mobe Closed and Under Investigation

    I just got confirmation from a valid source that Federal Trade Commission is investigating My Online Business Empire better known as MOBE. The investigation is directly responsible for the MOBE website being offline and suspension of business operations. Our first confirmation comes from a Canadian-based contractor, citing an official announcement by MOBE’s “tech team”.

    On Monday, June 4, 2018, the Federal Trade Commission, an agency of the United States of America (“FTC”), filed a civil lawsuit against the following persons and entities:
    MOBE Ltd., d/b/a MOBE, d/b/a My Online Business Education, d/b/a My Own Business Empire (Malaysia)
    MOBEProcessing.com, Inc. (US)
    MOBETraining.com, Inc. (US)
    Transaction Management USA, Inc. (US)
    MOBE Pro Limited (UK)
    MOBE Online Ltd. (Mauritius)
    9336-0311 Quebec, Inc., d/b/a Business Education Training (Canada)
    Matt Lloyd Publishing.com, Pty Ltd., d/b/a Matt Lloyd Publishing, d/b/a Home Business Builders (Australia)
    MOBE Inc. (Panama)
    Matthew Lloyd McPhee, a/k/a Matt Lloyd, a/k/a Matthew Lloyd
    Russell W. Whitney, Jr.; and
    Susan Zanghi

    According to the receiver, Mark Bernet

    In the lawsuit, the FTC alleged that the defendants operated a fraudulent internet business education program called “My Online Business Education,” or “MOBE,” through which the Defendants claimed they would reveal a “simple 21-step system that will show consumers how to quickly and easily start their own online business and make substantial income.” However, the FTC further alleged that, contrary to the Defendants’ representations, “the vast majority of consumers who join the MOBE program and purchase . . . costly MOBE memberships lose money.” According to the FTC, this “internet business” that consumers are taught to launch in Defendants’ program is nothing more than buying costly MOBE memberships for thousands of dollars and recruiting other consumers to pay thousands of dollars to purchase those same memberships. The FTC further alleged that by operating the business in the fashion they operated it, the Defendants violated Section 5(a) of the FTC Act, 15 U.S.C.A. §45(a).

    As part of the lawsuit, the FTC also filed a motion requesting that the Court enter a temporary restraining order and a preliminary injunction, to enjoin the Defendants from continuing to engage in the conduct that formed the basis for the lawsuit. At approximately 11:23 a.m. on Tuesday, June 5, 2018, United States District Judge Roy B. Dalton, Jr. entered an Ex Parte Temporary Restraining Order (hereafter the “TRO”), a copy of which is posted to this website. In the TRO the Court made the following specific finding: There is good cause to believe that Defendants have engaged in and are likely to engage in acts or practices that violate Section 5(a) of the FTC Act, 15 U.S.C. § 45(a), and that [the FTC] is therefore likely to prevail on the merits of this action. . . . {T}he FTC has established a likelihood of success in showing that Defendants have made material misrepresentations that purchasers of their program are likely to earn substantial income quickly and easily and that dissatisfied purchasers can get their money back.

    Among other things, the TRO:

    Enjoins the Defendants from making false representations concerning what consumers are likely to earn through the MOBE system, or concerning consumers ability to obtain refunds from Defendants without conditions;
    Enjoins the Defendants from making false representations concerning the Defendants’ refund policies;
    Enjoins the Defendants from selling, copying, releasing or disposing of any customer information, including customer names, addresses, telephone numbers, email addresses, etc.; and
    Freezes the assets of the Defendants and enjoins them from transferring, selling, or otherwise disposing of any of their assets.
    Additionally, in the TRO Judge Dalton appointed Mark J. Bernet as the Temporary Receiver for each of the nine companies identified in the first paragraph above (collectively, the “Receivership Defendants”). The TRO directed the Receiver to take control of the Receivership Defendants and their assets, but directed that the Receiver should “suspend business operations of the Receivership Entities if in the business judgment of the Receiver such operations cannot be continued legally and profitably.” TRO, Section XII. S., page 17. The Receiver presently has not been able to conclude that the business operations can be continued legally and profitably, and as a result, for the time being the business operations are suspended. Judge Dalton has scheduled a hearing for June 26, 2018, to determine whether the TRO should be terminated, extended or converted into a preliminary injunction. The outcome of that hearing will be provided on this website.

  • Grant Cardone – 5 Steps to Becoming a Millionaire

    Grant Cardone – 5 Steps to Becoming a Millionaire

    Grant Cardone does weekly sales training with his sales team to keep all his employees in sync with the mission. To help others reach succeed.

    Grant Cardone wants his company not only to serve others, and help them reach financial freedom. This week he talked about the 5 steps to becoming a millionaire. It is important to him that his employees are doing well, because it sells them even more on the idea of helping others reach the sales levels of success he had in his career.