Loan

Questions about Student Loans...?

Apr 05, 2010 by Jamie | Posted in Financial Aid

I'm 25 and usually college for the first time. The school I chose was $ 36,000, so I will obviously need to pay support. I am meeting the financial adviser in a few days.

Well you must be informed if you got reserve. Just because you ask for financial assistance does not mean you can not apply for scholarships as well.

| Apr 05, 2010

Well you must have knowledge of the subject if you got. Just because you ask for financial assistance does not mean you can not apply for scholarships as well.
Katy | Apr 05, 2010

Questions on Student Loans...?

Apr 05, 2010 by Jamie | Posted in Lesbian, Gay, Bisexual, and Transgendered

I asked this suspicions about in the financial aid section and no one answered it...so maybe you guys can help me out.

I'm 25 and going to college for the first formerly. The school that I chose is $36,000, so I'm obviously going to need

Frankly, the monetary aid given for paying tuition usually isn't even enough for that, especially if you're just trying to get a government credit like FAFSA. I'm guessing you haven't been given a financial aid package from your college potent you how

wolverine4life | Apr 05, 2010

Frankly, the fiscal aid given for paying tuition usually isn't even enough for that, especially if you're just trying to get a government lend like FAFSA. I'm guessing you haven't been given a financial aid package from your college telling you how
wolverine4life | Apr 05, 2010

Alternatives to Federal Student loans

For even more details along with {above|no cost|cost- free|zero expense} aid in turning your educational {dreams|desires|goals|ambition s| aspirations ...

For profit colleges: Do your homework, says attorney general

20.05.12

Reporter Note: The following information was provided by the Office of Minnesota Lori Swanson ordinary:

Higher education has long been the way many Americans continued monetary greater opportunity and increased revenue potential. In recent years more students have turned to for-profit colleges - whose investors ahead of money when students enroll in schools - certificates and diplomas, some involving online courses. Registration for-profit colleges has increased by over 225 percent since 1998.

For-profit college advertisements are everywhere--on the Internet, video receiver and radio, in newspapers, in your mailbox and over the phone. The advertisements--often aimed at students without much moolah or who are the first in their family to go to college or who don’t have much experience with higher education--may tell about success stories of students who have graduated, how much rake-off rich a student will make upon graduation, or the ease with which their online programs will fit the student’s lifestyle. Because the investors of for-profit colleges choose money when students enroll, their recruiters sometimes relentlessly pursue students who have expressed an interest in receiving more info. In the last few years, the tactics of some for-profit colleges have come under scrutiny. In some cases, such colleges have familiar deceptive sales practices to entice students to enroll in expensive programs that are at at a state college or university at a fraction of the cost. In other cases, students have paid thousands of dollars to enroll in such programs, only to come by a worthless degree.

If you or your child are considering enrollment in a for-profit college, do your homework to be convinced that you get the best value for your money and avoid problems:

Industry Facts and Figures. The for-profit college enterprise is profitable. In 2009, the 16 largest for-profit college corporations poised profits of about $2.7 billion. Over 75 percent of students who attend for-profit colleges are enrolled at colleges owned by Divider Street investors, according to U.S. Senate data.

About 2,000 for-profit colleges nationwide enroll about 11 percent of all higher schooling students, but they receive nearly 25 percent of all federal financial aid--totaling about $32.1 billion each year--and account for exactly 50 percent of all loan defaults. On average, the largest 15 for-profit colleges received about 86 percent of their funding from federal, taxpayer-backed student loans and aid programs. If students lapse on federal loans, taxpayers--not the for-profit colleges--pick up the tab. In other words, taxpayers bankroll the private equity funds and investors who own the for-profit colleges when students who follow them default on their federal student loans.

Recent Government Reports. The U.S. Government Accountability Responsibility (“GAO”) has issued several reports about for-profit colleges since 2009. The Harmonious States Department of Education has also released data about for-profit colleges. The following are some of the findings from these reports:

• Fallacious Sales Practices. An August, 2010 GAO investigation found that 15 of 15 for-profit colleges investigated made illusory or questionable statements to undercover applicants as part of the enrollment process, such as providing inexact information about the college’s accreditation, graduation rates, prospective employment or earnings, duration and cost of the program, or financial aid. The GAO found that some schools employed “intensely-sell sales and marketing techniques” to encourage students to enroll.

• Bold Recruiting Practices. Many students use the Internet as a research tool. The GAO found that some websites that affirm to match students with colleges are really “lead generators” that pass on the data from students who enter their contact information to for-profit colleges, whose recruiters then conduct the prospective student. The GAO found that within minutes of filling out forms online, some prospective students received a barrage of phone calls from colleges. One nearing student received a phone call about enrollment within five minutes of registering and another five phone calls within the first hour. Another received 182 phone calls in the first month of using the websites.

• Costs. According to a GAO story, “most certificate or associate’s degree programs at the for-profit colleges we tested rate more than similar degrees at public or private nonprofit colleges.” Indeed, the GAO found that “schooling for certificates at for-profit colleges were often significantly more expensive than at a nearby public college.” The GAO reports that, at one for-profit college, an applicant would have paid $13,945 for a certificate in computer-aided drafting, compared to $520 at a accessible public college. The GAO report noted that an associate’s degree in respiratory psychoanalysis at another for-profit college cost $38,995, compared to $2,952 at the nearest Dick college.

• Graduation Rates. The nationwide average graduation rate for first-moment students in bachelor-level programs is 25 percent at for-profit colleges, compared to 55 percent at openly colleges, according to a 2010 U.S. Department of Education report. Some for-profit colleges have been found to misstate their graduation rates.

• Allow Default Rates. Federal law prohibits colleges from receiving more than 90 percent of their funding from federal student loans and aid for two consecutive pecuniary years. Many for-profit colleges receive federal student loan and aid funding at or within easy reach this limit. If a student does not make payments on their federal loans and the loans default, the federal guidance and taxpayers pick up the tab, meaning that the taxpayers essentially subsidize the private neutrality funds and investors who own the college. According to the GAO, four years after borrowers started to give back their federal loans, 23.3 percent at for-profit schools defaulted, compared to 9.5 percent at viewable schools.

People may access these GAO reports online: (1) “Undercover Testing Finds Colleges Encouraged Flimflammer and Engaged In Deceptive and Questionable Marketing Practices,” August 4, 2010; (2) “Stronger Hinge on of Education Oversight Needed to Help Ensure Only Eligible Students Be given Federal Student Aid,” August, 2009; (3) “Stronger Federal Oversight Needed to On Ban on Incentive Payments to School Recruiters,” October, 2010.

Do Your Homework Before You Enroll. Students and their families may require to consider the following suggestions to avoid problems:

• Question the marketing pitches. For-profit colleges are owned by investors who decide on money when the colleges enroll new students. Their recruiters may be very aggressive in calling students and pressuring them to enroll, sometimes by falsely touting graduation rates or exaggerating job organization rates or a student’s likely earnings upon graduation. Never rely on the word of mouth of the recruiter; rather, look behind the recruiter’s figures and promises and heed:

• Graduation rates. Federal law requires for-profit colleges to disclose their graduation rates to applicants upon call for. Ask for this information in writing. If an institution refuses to comply, report it to the Minnesota Division of Higher Education and the U.S. Department of Education.

• Job placement rates. Some for-profit colleges may inflate a student’s employability after graduation. Ask for written proof of the college’s post-graduation charge in your field of study.

• Future earning potential. Some for-profit colleges may expand a student’s future earnings upon graduation. You can independently check the projected earnings of a following career by accessing U.S. Department of Labor statistics online at http://www.bls.gov/oco/ooh_index.htm.

• Does the accreditation drive at anything? For-profit colleges can usually claim some type of “accreditation,” but some somewhat or certificate programs may cost thousands of dollars and not be the type of “accreditation” that meets the standards for the vocation in which you plan to work. The Attorney General’s Office has heard from students who have send forth thousands of dollars to obtain a certificate offered by a for-profit program, only to find that employers will not lease people based on this certificate. Find out whether employers in the area hire students with the keyboard of degree offered by the for-profit college, perhaps by speaking with employers or local community or technological colleges or public universities in the area.

• Will the credits transfer? Some credits earned at for-profit colleges will not remove to other institutions. If you are thinking of taking a few courses at a for-profit college and then transferring to another school, be foolproof to ask both the for-profit college and the school to which you plan to transfer whether the credits will transfer.

• What are the withdrawal periods? Some for-profit colleges have severe withdrawal deadlines, in which to receive a full refund for the courses you began to take. If you withdraw after the deadline, the college may be required to indemnification a portion of your student loans to the lender, leaving you potentially personally liable to pay back the college for a assignment of the classes you attended. Ask for a copy of the withdrawal policy in writing.

• Compare costs. In some cases, you may be masterly to get the same or better degree elsewhere, such as at a community or technical college or state university, for a fraction of the price. The recruiters at for-profit colleges may pressure you to enroll, but take time to comparison research. Make sure the cost quoted by the for-profit college aligns with the at long last of time you plan to attend courses; for example, if you plan to attend school 12 months out of the year, prosper sure the college quotes you the cost for attending 12 months of classes. Also, standstill by or call your local public college to find out what it charges for the same or similar program.

Source: Alexandria Echo Press

Classrooms May Change, Rigorous Education Should Not

20.05.12

 

The present-day trend of many businesses, including newspapers, gravitating toward the Internet has recently brought prominence to the idea of virtual campuses or "distributed" learning, where college courses can be taken online, at a student's convenience and often at a much cheaper valuation.  As a result, many community colleges have already adopted this online education approach. The doubt is whether or not online education will change our nation's top universities.

This tough economy makes affording a acclaimed private university's tuition an unrealistic possibility for many students. Student loans and scholarships can be superior financial options, but in many cases they are not enough for students and their families. Online courses offer a cheaper upbringing for such students.

By taking classes on a so-called "virtual campus," students can take home degrees and achieve social mobility, thus improving an economy that desperately needs people to effort and spend money.

The use of online courses can also benefit students living outside of the United States, mainly those residing in developing countries, who don't have the option of attending a distinguished American university. This concept of "distributed" erudition holds great value and could provide the means for many undereducated people in the set to socially advance.

There is no substitute for the real university campus experience, however. Here at Fordham, we are blessed to have a beautiful, diverse campus that serves as a vibrant community for students. Being part of a campus allows students to interact, cut ideas, discuss academic topics and learn from each other. This kind of place and the opportunities it presents are together in the world and should not be replaced by the online courses of a virtual campus.

Rev. Joseph M. McShane, S.J., president of the University, has vocal extensively about Fordham's unique Jesuit tradition.

"From the very beginnings, Jesuit learning has been characterized by a number of different qualities," he said. "We have a great emphasis on trouble for the individual student; we have a great desire to introduce excellence and rigor into the classroom and every cause we teach."

This individual care for and challenging of the student cannot be replicated on a virtual campus. Online courses bid no face-to-face interaction between students and professors. Fordham focuses on minute seminar classes based on the belief that the best way to learn is through discussion, and that the classroom allows students to participate in lectures and mind to professors in person. This type of interaction gives students a distinctive scholarship experience that is much more likely to stick with them later in life than lifeless text on computer screens.

Students who go to an institution such as Fordham also have the benefit of guidance from academic advisors. College can be a period when a student is unsure about his or her path in life or is uncertain about what he or she wants to pursue as a career. Although parents and the students themselves engage an equally important role in determining a student's future career path, unrealistic advisors can offer a unique kind of assistance. Students seeking a bit by bit online are often left without such an advantage and without luxuries such as Career Services or on-campus career and internship fairs.

Online classes also imply that there is no viable way to prevent cheating. Students could essentially look up answers on the Internet or have a room-mate take exams for them. This brings the value and legitimacy of online education into question.

Despite its drawbacks, however, online drilling is an excellent option for many students and adults who are balancing providing for themselves financially and working toward receiving a stage.

"I took an online course with a community college one summer and it allowed me to earn some extra college credits while working full-heretofore," Tim Deering, GSB '13, said.

Even though the technological revolution is in full swing, I don't believe that higher information will change that dramatically in the years to come. The university, as a structure in our society, represents unwritten law and opportunity.

In the United States, the long history and prominence of prestigious institutions in providing bigger opportunities and social advancement has ingrained in us a belief in the value of higher learning. The great schools that we have in this country play a significant role in keeping the U.S. competitive in the pandemic market. If higher education were to be disrupted by the Internet, we would lose advantages we have as a country.

Declan Murphy, FCRH '13, is a political science major from Parkland, Fla.

Source: The Ram

online courses that should not be allowed student loans - Bookshelf


Web-based training
599 pages 		Web-based training

Creator: Badrul Huda Khan | Business & Economics - 2001
It is not uncommon for students to imagine lower fees for online courses. ... Can students audition for the financial aids/loans online? ...
Publisher: Educational Technology Pubns
Solve Your Money Troubles, Debt, Credit & Bankruptcy
558 pages 		Solve Your Money Troubles, Debt, Credit & Bankruptcy

Creator: Robin Leonard, Margaret Reiter | Business & Economics - 2011-04-27
These schools typically come forward vocational courses, degrees, or online courses. ... Many former students were lulled into charming out student loans to attend ...
Publisher: Nolo
Network World
68 pages 		Network World

2002-03-25
IDC estimates the edition of students getting their IT training online should increase 35% to 40% by 2005^ According to the Intercontinental Association for IT ...

College Registration FAQs

How can I see a counselor?

How can I register for a Winter Intersession course?

My daughter wants to register, but she is in South America right now. How can I register her for next semester?

Can high school students register for courses?

Why does Passport say there is a hold on my registration?

I definitely need a course to transfer, but it’s already full. Can I get on a waiting list?

How much does it cost to attend College of Alameda?

How do I pay the tuition fees?

How can I get financial aid?

Do I qualify for financial aid?

I drive to school. Why should I have to pay the bus pass fee?

Can I audit a course?

How do I drop and add courses?

 

How do I register for courses?

Registration is a two-step process: you first apply for admission to the college (if you have not attended one of the Peralta colleges in the past year), then enroll in courses. New full-time students and those returning after at least a year’s absence must make an appointment for assessment, orientation, counseling and program approval before receiving an appointment to enroll in classes.

The college uses the Passport system for online registration. You may register from home at www.peralta.edu , or come to the Welcome Center in Room A-101 where you will have access to computers and help with online registration.

What is the registration deadline for spring term?

The last day to add regular classes for Spring semester 2010 is February 6. Short-term and open-entry classes may have later deadlines; for these you should check with the instructor or a counselor. You should be aware, however, that with the current budget crisis California colleges and universities have been forced to cut the number of classes they offer, so it is to your advantage to register as soon as possible to ensure that you get the courses you need.

Do I have to see a counselor before registering?

New full-time students and those returning after at least a year’s absence must make an appointment for assessment, orientation, counseling and program approval before receiving an appointment to enroll in classes.

How can I see a counselor?

Go to the Welcome Center in Room A-101 or call (510) 748-2209 to make an appointment.

How can I register for a Winter Intersession course?

You register for Winter Intersession courses under Fall semester. At this time, nearly all Winter Intersession courses are full. However, registration changes from day to day, so if you really need the course you can try two options, with the hope but no guarantee that there will be a space opening up for you in the course. (1) You can apply for admission to the college, if you have not been admitted previously, then check the Passport listings daily in the hope that someone will drop the course and you can register for it immediately. To check listings, click on Enroll Now , then Schedule of Classes ( the pdf schedule), then under Fall term 2009 click Go . On the search page, click Alameda , uncheck Show Open Classes Only , go to the bottom of the page and under Session click Intersession 1 , then Search . (2) As a second option, you can get an Add card from Admissions & Records and show up on the first day of class in the hope that some people will not attend and space will open up.

My daughter wants to register, but she is in South America right now. How can I register her for next semester?

For reasons of confidentiality, we cannot allow someone other than the student to register. We will send registration documents to the person’s non-California address upon request. Contact the Admissions & Records office, (510) 748-2228.

Can high school students register for courses?

The California Education Code allows high school students to enroll as special part-time students. Enrollment must be recommended by their high school principal, have parental consent and be approved by the Peralta Colleges Associate Vice Chancellor for Admissions & Records and Student Services. Units earned will be granted as college credit. Contact the Admissions & Records office, (510) 748-2228, for more information.

A public, early college high school, Alameda Science & Technology Institute (ASTI), is located on the College of Alameda campus. ASTI students take college courses during their junior and senior years, and some are able graduate with both a high school and a college diploma. Go to www.astischool.com/ for further information.

Why does Passport say there is a hold on my registration?

This usually happens because you have money owing to the college. You may not have forgotten to pay a library fine, or may not have paid the new $31 AC Transit EasyPass fee, which is now required of all students enrolled in nine or more units in a semester. Contact the Admissions & Records office, Room A-101 or phone (510) 748-2228, for more information.

I definitely need a course to transfer, but it’s already full. Can I get on a waiting list?

There are no waiting lists for classes. You might check all four Peralta colleges, to see whether the course you need is offered at another college. If not, you have two options, neither of which guarantees that you will be admitted to the class. (1) You can apply for admission to the college, if you have not been admitted previously, then check the Passport listings daily in the hope that someone will drop the course and you can register for it immediately. To check listings, click on Enroll Now , then Schedule of Classes ( the pdf schedule), then under Spring term 2010 click Go . (2) As a second option, you can get an Add card from Admissions & Records and show up on the first day of class in the hope that some people will not attend and space will open up.

How much does it cost to attend College of Alameda?

Fees for California residents include $26 per unit California community college enrollment fee, $2 per semester campus center use fee, $31 per semester AC Transit EasyPass fee (all students with 9 or more units), and a $1 per semester student government fee.

Nonresident and foreign students pay nonresident tuition of $216 per semester unit and a nonresident capital outlay fee of $6 per semester in addition to other campus fees above. All fees are subject to legislative changes and all fees are payable at time of enrollment.

How do I pay the tuition fees?

Tuition may be paid by mail or at the college Cashier’s Office, Room A-150. The college accepts checks, credit and ATM cards, and cash.

How can I get financial aid?

Financial aid is available for students from both low- and middle-income families, but to qualify for most financial aid, a student must have “financial need.” Contact the Financial Aid Office in Room A-101, or phone (510) 748-2391, as soon as possible for information about available aid and to apply. The Financial Aid Office holds informational workshops every Tuesday from 12 to 2 p.m. in the Cyber Café in the F Building cafeteria.

Do I qualify for financial aid?

Financial aid is available for students from both low- and middle-income families, but to qualify for most financial aid, a student must have “financial need.” In addition, the student must have a high school diploma or a General Education Development (GED) certificate, or pass a test approved by the U.S. Department of Education; be enrolled or accepted for enrollment as a regular student working toward a degree or certificate in an eligible program; be a U.S. citizen or eligible non-citizen; have a valid social security number; make satisfactory academic progress; sign a statement of educational purpose, and a certification statement on overpayment and default; and register with the selective service, if required. Financial aid is usually a combination of grants, loans and work study. For more information, contact the Financial Aid Office in Room A-101, phone (510) 748-2391.

I drive to school. Why should I have to pay the bus pass fee?

Peralta Colleges students voted in Spring 2009 that all students enrolled in 9 or more units would be required to pay an AC Transit EasyPass fee of $31 per semester. This fee will be collected at the time of enrollment, and is non-refundable. With EasyPass, students can ride all AC Transit bus lines, including local and Transbay service, at all times, saving over 94% off the transit rate.

Can I audit a course?

Auditing of classes is not permitted. No person is allowed to attend a class unless enrolled in that class.

How do I drop and add courses?

You drop or add a course using the Passport online system, just as you did when you first registered for courses. You must drop the course in Passport by the official deadline (check the course schedule for deadlines) or the course will continue to appear on your transcript; to stop attending the course is not the same as dropping the course.

After classes begin you have 10 days at the beginning of the semester to add a class for all classes except short-term classes that meet later in the semester. If the class is closed, you will be able to add the course only with the instructor’s permission. Print out and complete an Add Card ( http://www.peralta.edu/Projects/322/Add%20Card.pdf ), have the instructor sign it and take it to the Admissions & Records Office, Room A-101.

What penalty is there for dropping a course?

If you drop a course during the first four weeks of instruction, the course will not be noted on your academic record. If you drop between the end of the fourth week and the end of the ninth week of the semester, a “W” will appear on your transcript. After the ninth week, you will receive a grade for the course. Stopping attending the course does not count as dropping it; you are responsible for dropping the course online.

To receive a refund for the course, you must drop it online by the designated last day, which in Spring semester 2010 is February 4, 2010. You must fill out a refund form at the Cashier’s Office. No fee is charged for a change in the number of units carried, but a $10 processing fee will be charged for complete withdrawal from all classes.

How do I take a course pass/fail?

You can take on a pass/no pass basis only those courses that have a “P/NP” notation in the course catalog. You must notify the instructor prior to the fourth week of class if you intend to take the course on a P/NP basis.

If you complete the course successfully (with a “C” grade or better), you will earn the specified number of units and your transcript will show a “P.” The course will be counted in satisfaction of your community college curriculum requirements, but will not be included in computation of your GPA. If you are planning to transfer to a four-year university, you should be aware that in most cases courses in which you earned a “P” will not be counted toward your major requirements, and there may be limits on the number of units of “P” that will be counted toward a Bachelor’s degree.

I am interested in taking a class at another Peralta campus. What do I need to do?

You can register for courses at any of the four Peralta colleges (College of Alameda, Berkeley City College, Laney College and Merritt College) once you have been admitted to one of the colleges. Log on to the Passport system just as you would to register for a course at College of Alameda.

Source: Shirleen's Blog

Joshua Levitt, UsedCisco.com Founder shares His Entrepreneurial Experience

Hi Fellow Young Entrepreneurs!

Today we have an interview with a wonderful Young Entrepreneur – Joshua Levitt of usedcisco.com , a company he started aged 29.

Founded in 2005, UsedCisco.com is the world’s largest online network hardware outlet, offering thousands of network hardware products at significant savings off list price.

Joshua is a seasoned entrepreneur – and having gone through the trials and tribulations of starting his own business he has many great insights such as:

Enjoy the interview and as always let us have your comments.

To Our Success

Michael

Joshua Levitt Interview

1) Hi Joshua, thank you for agreeing to this interview,

You are the Co-founder of usedcisco.com . What made you set up that site? Get involved in that industry?

The decision to build usedcisco.com was predicated on the desire to align our business model with 3 emerging trends, therefore increasing our probability of success.

The first trend being the demand for bandwidth. I recognized the potential impact of the computer revolution while in high school. I wasn’t the best student, but I always had the ability to find relevance between my studies and the environment. I was learning about the industrial revolution in my history courses and I was simultaneously taking basic computer electives. I quickly realized that computers and the internet would account for a revolution greater than that of the industrial revolution. I figured, a career in networking technology would be akin to choosing a career in the manufacturing or the railroad back in late 1800’s. The demand for bandwidth is ever increasing. The growth is and will continue to be exponential and usedcisco.com is selling the equipment necessary to be a part of it

The second trend is that of e-commerce. Studies show that more and more people are doing their shopping online every day. Frankly, I believe with the advent of the internet and e-commerce, most anything can and will become a commodity in the next 10 years. E-commerce affords customers better access to product pricing and product research than ever before. This trend is going to continue growing exponentially as well.

The third trend is the environment. Green IT and environmentally friendly corporate philosophies are on the rise globally. Driven by the necessity to minimize our impact on the environment this trend is not going anywhere soon (or ever). Our ethics have evolved in the past few years to consider the environment on a scale never before known by the human race. At UsedCsico.com we are selling pre-owned network hardware and therefore reducing the impact of e-waste. E-waste accounts for more than 3% of the global carbon output, which is equal to that of the airline industry. Reuse and recycling will continue to be part of the mainstream in the years to come both socially and legislatively.

2) You mentioned starting a business was an emotional rollercoaster. “It’s a Rollercoaster in the sense of the emotional constitution required to build a start-up with limited resources”  Tell us a bit more about how you dealt with this and what gave you the strength to persevere?

The strength comes from my desire to succeed and my passion to win. I am a competitive person and I think it carries over to my career as well. I draw strength daily form my team. We are all overworked and under-paid; it’s the nature of any start-up business. My team continues to be highly motivated and committed to the success of UsedCisco.com regardless of our ups and downs. Finding the right people to build your core team is tantamount to the success of any entrepreneur. It’s imperative that you surround yourself with individuals who buy into your business model. These people need to be driven, hungry and willing to make a sacrifice. These people are not your typical 9-5ers and I could not do it without them.

3) Can you share some of the biggest lessons you have learned personally and as a business as UsedCisco.com has grown? If you were to start again, what might you do differently?

My biggest lesson has been the management of cash flow. Any business needs capital to succeed. This business was started on a modest bootstrap and therefore resources have always been limited. I regret not working harder towards raising additional capital to grow the business. I thought we would grow organically and therefore have no debt. We have done just that. However, looking back, I now realize that we could have grown markedly faster with the assistance of outside capital. Faster growth is essential to staying ahead of the competition.

Regarding cash flow there is a very delicate balance between re-capitalizing profits back into the business and dedicating cash for operating capital. Start-up businesses are less likely to secure loans and lines of credit from a traditional bank due limited history and less than 3 years of financials. So be very careful not to screw up the balance even once because you will have little or nothing to fall back on. At a start-up you have to carefully re-invest in your businesses to reach its goals. This balance is rather difficult to budget because there are no historic trends to assist in budgeting. Revenues can fluctuate drastically with no benchmark to call upon. A few consecutive slow months in sales can sink your shiny new ship before it ever gets out of the harbor.

4) Do you have any recommended strategies for getting customers who buy once to come back and use your service again – other than of course good service?

Well that’s just it, good service! Our philosophy here has always been to exceed our customer’s expectations. I try to drill in the philosophy of under promising and over delivering. A customer of ours should be pleasantly surprised after ordering a small part from us and hopefully next time she will come back to make bigger consecutive purchases. My definition of over delivering can include; an early arrival of your order by a day or two, professional packaging, friendly and knowledgeable sales rep’s and terrific post sales support.

I try to push our sales team towards providing business solutions to their customers. I tell them, “you are not here to quote people on hardware; you are here to solve their business problems.” Hardware itself is a solution to a business problem, and we try to understand the bigger picture of what our customers are trying to accomplish. If we can fully understand them, then we can suggest out-side of the box solutions or configurations. Sometimes even at the expense of losing the deal if hardware is not the appropriate solution. I believe when we can get a customer to consider an option that they had never previously thought about, is when you truly begin to add value and stand out form our competitors. These are the customers who will award us with the most lucrative long term relationships.

5) Do you have any suggestions for coping with set-backs, negative experiences?

Yes, my grandmother once told me when I was running my first business in 2003. “You better learn how to roll with the blows.” This advice was imparted on me after I had just finished complaining to her how I was having a spell of bad luck with equipment break downs and bad help. I said my life will be a lot easier when everything is running smoothly and I don’t have to put out fires so often. I soon realized that the days of “smooth running” are often fewer in numbers than those of fire extinguishing. It’s the nature of being in business. If you want stable, repetitive, and thoughtless tasks to work on daily then stay as far away from a start-up business as you can get. I learned to expect the unexpected and to make the best decisions I can with the most information I have. I commit to those decisions quickly and move forward with tenacity. It’s simply the best I can do. At the end of the day you can’t beat yourself up for doing your best.

6) How do you keep your business focus – Do you have any suggestions for entrepreneurs who are experiencing challenging times?

It’s very easy to get caught up in the day to day operations of any business. It’s imperative that you take a step back every so often and consider the bigger picture. This also included celebrating milestones. There are always more goals to achieve and deadlines to work towards, but you need to make a concerted effort to document these milestones and pat yourself and your team on the back after reaching each one. Sometimes, talking about your business to a perfect stranger helps you stay in touch with the bigger picture of where you are trying to go. If you experience tough times, fall back on that broader goal and draw strength from where you have come so far and the milestones from your past.

7) Is there anyone that you look up to and model yourself on?

I look up to My Dad and grandfather who were both successful entrepreneurs and who taught me early on about what it means to succeed in small business and most importantly how to control costs. More recently I have looked up to Joe Asady my co-founder and angel investor for UsedCisco.com. Joe owns and manages several businesses in the network hardware arena and was a mentor to me in the early stages of development. He pushed me to grow and become the best I could be. I call upon both Joe and my Dad for my toughest business questions. They always have the right answers.

8 ) Do you have any favorite business related or web design related books that you can recommend to other entrepreneurs?

I highly recommend a book by Jessica Livingston called Founders at Work. It is a collection of in depth interviews and stories of start-ups’ early days during the dot com bubble. The case studies found in that book are invaluable to anyone who is thinking of starting or exiting from any business.

9) What is the best advice you have ever been given?

You will never be the cheapest guy out there and remember, people buy form people they like.

10) As someone who has achieved success so young, what advice would you give to a Young Entrepreneur starting their first business today?

The devil is in the details. Having a good idea is the easy part. There is another good idea every 30 seconds in this country. The difference between those of us who succeed and the majority who fail is EXECUTION. Execution is 98% of the equation. There s no short cut to success and substitute for hard work and diligence. Everyone I know thinks they have a good business idea. They talk about their product and or service, and its superior advantages. However, if you cannot manage cash flows and you cannot motivate a team of the right people you will get nowhere fast. Understanding of basic accounting principles and the intricacies of running a business financially are equally as important as your great idea, if not more so.

11) What do you like best about the Internet?

I like how the internet brings people together. It is shrinking the world at a rate faster than the railroad, automobile and airplanes combined. I love the collaboration this affords. When you can you combine so many minds and information in one place the potential for advancement is insurmountable. This is all afforded by the ability to upload. Historic mediums like newspapers and television always projected information in one direction. Never before has any other medium allowed people to contributed in real time.

12) What do you like least about the Internet?

I dislike all the unscrupulous behavior. The hackers, the phishing scams, certain  unethical marketing platforms etc…

13) Any advice for how young entrepreneurs can bootstrap? (Not spending a ton to get something off the ground)?

Yes, in the words of Joe Asady, one of my mentors previously mentioned. “Beg, Borrow and steal,” all kidding aside, you need to remain humble and keep your costs to an absolute minimum.

““You will never be the cheapest guy out there and remember, people buy form people they like.”” Totally agree.. there’s always someone out there cheaper but if you become OBSESSED with price and forget about marketing it doesn’t work. In my collectibles business, we do not have the lowest consignment fees around, but we do a tremendous job, get great prices, and make the experience easy. It lands more collections than dirt cheap pricing that would put us immediately out of business!

Source: Making Money Online With Young Entrepreneur Michael Dunlop