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Debt Management

Getting debt in check is actually a combination of debt reduction, controlling spending, and decreasing expenses.
What exactly is the point of getting your current credit cards within one brand-new credit card,
if you’re only preparing to begin spending unnecessarily only given that it’s available? Credit card debt consolidation is pointless if this is the plan.

Debt Relief Plan

If you wish to be debt free, you might want to look for debt help (Ex. credit counseling, financial advice, debt management services, etc).
The majority of debt relief companies present experienced debt advice and quite often can draft a debt settlement letter.
They provide debt negotiation in order to satisfy debt collection companies.
This allows the time to collect yourself and also accomplish other sorts of money saving strategies.
You do not need to worry about spending money on debt counseling.
There are non profit debt counselors available that provide consumer credit counseling and can help answer any of your debt inquiries.
You shouldn’t feel alone with this.

How to get out of debt-freedom is not easy

Besides lowering current debt in check, you seriously ought to lower bills.
Phone bill expenses, gas bills and other utility bills definitely make things challenging to save or perhaps pay down that house loan.
Occasionally sacrifices in luxuries are needed.
(Look at this information for how to Lower Bills which offers quite a underground technique that the majority of people don’t know.
You’ll also have the ability to decrease that phone bill while not dropping any features).
Play it smart, and you might not need to eliminate too much.

Debt Solutions

Stick with the above tips, and you may be able to steer clear of insolvency.
Make certain you begin bad credit repair, and prevent future debt problems by keeping away from debt altogether (credit card debt, personal loans, bad debt, etc).

Generally, some form of earnings is needed for just about any debt consolidation negotiations.
Normally, any type of income helps – even if it is seemingly low; therefore don’t surrender high hopes.

The following pattern seems really bizarre to me, even crazy, but I see it present at quite a few expansion stage software organizations:  Spend tons of cash on sales and marketing like it’s the company’s one and only objective and avoid “costly” luxuries like a User Experience / Interaction designer, a GUI artist, and possibly even a genuine Product Manager.

And still, employing one single, good UX designer, even to support an existing Product Manager for just a year, can have an effect on sales and profits that a full sales and marketing team wouldn’t achieve in five years (or ever).  This is especially true for B2C businesses and any B2B business targeting SMB’s or enterprise departments complete with down-loadable, trial-able and SaaS products.

One way to view sales and marketing (and possibly even customer support), is as a complete waste.  Sales and marketing do for the product what it cannot do for itself.  The trouble is, once a product is out there, and it never markets or sells itself, you must proceed to scale those functions to build a business.

But what if the product marketed and sold itself?  What if you built the product and you just simply sent it out into the wild, and only maintained it with highly targeted expenditures to give it a lift from time to time? What if every marketing dollar you invested on the product led to out-sized ROI simply because every single person who chanced upon it, downloaded and took it on in 10 minutes, fell in love with it and spread the news to all his or her colleagues and friends about it, and then they went and did the same? What if sales people were simply educators and enablers who assisted prospects in achieving their goals? Is this because its UI wasn’t merely sleek and cool but developed carefully with an interaction model for your exact prospects in mind?

What if instead of reaching this fantastic end result you achieved only a quarter of your goal?  Or 50%?  What if you increased your conversion from trial to purchase by just 50%?  How many sales and marketing dollars have you spent attempting to achieve that in the past year and failed ?

The only way to build such a product is to have the following features (in combination with good engineering):

• Product Management
• UX / Interaction design
• Graphic design 

That’s generally anywhere from 2-3 additional hires to your current engineering team.

And yet, astonishingly, most software companies, especially B2B, don’t even bother with these hires, even though they invest millions on sales and marketing. 

And the less a product can promote itself, the more marketing and sales shoves it down somebody else’s throat, creating a worse ROI scenario. 

So stop wasting sales and marketing dollars and as an alternative make investments in:

• A superior product management process
• UX and graphic designers
• Creating competitive advantage through better product interface rather than lead generation service

Igor Altman is a Senior Associate at OpenView Venture Partners.