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Feb
10

Clearing Your Debts

Getting Out of Debt

Debt is not intrinsically bad. Debt can enable a person to afford a house, a car, an education and a comfortable way of life. But when debts become excessive they can lead to a lot of problems, the worst of which is not being able to repay the debts which will make it very difficult to obtain credit in the future because an individual has completely damaged their credit history.

Of course the best advice for a person to get out of debt is to repay them. An individual has many options to do this, sell assets such as a second car, jewelry, shares and the like. Another option is to be frugal – limit spending and cut-back on unnecessary expenses.  Another alternative is for an individual to increase their income – get a second job or run a part-time business. Individuals should be open to all possibilities and opportunities and should not be scared to take a risk if they want to get out of debt fast and to experience long term financial freedom and security.

Running a part-time business does not have to involve a large investment. There are many people who have started businesses that became great successes on a small initial capital investment. Some part-time businesses can be operated from home; an example of this type of part-time business is a cleaning business. This is a good business to operate in your spare time if you need some extra money to help you get out of debt.

A cleaning business is a low-tech business that does not require a big start-up capital and has a huge potential to become a profitable business that can generate income very rapidly and can help settle debts faster.  It can be operated out of the home and can be done on either a full-time or part-time basis. It can be operated without hiring employees, with a do-it-yourself approach or if administration and management is your strength you can hire people do the cleaning for you while you focus on building and managing the business.

There are two market sectors for a cleaning business, the residential or consumer market and the commercial market. The residential market involves carpet and window cleaning and other residential cleaning services. Whereas the commercial market involves janitorial services and carpet and window cleaning services for buildings and other business structures.

An individual who wants to start a cleaning business should decide on what area of the cleaning service market they want to concentrate on. It is however, practical to make provision for the servicing of all kinds of markets. The bigger your target market the more clients that you will attract and the more profitable that your business will be, the more money that your business generates the faster you can get out of debt.

What does a person need, to build a cleaning business that will help them get out of debt?

Resolve to make the business work - just like any other type of service business; aim to make a success of the business by providing great service and quality work.

Eagerness to make the customers happy – the business depends entirely on the customer’s contentment and satisfaction. Recurring customers are where your profits will come from. A satisfied customer will use your services on a long term basis and will also recommend you to others.

Fundamental or basic business competence – A person needs to understand the basics of running a cleaning business, develop good working relationship with customers and employees, and of course, possess marketing skills to build a clientele.

A cleaning business is a great way to start your own business, and start generating revenue fast which will help you pay off your debts and help you experience financial freedom and stability faster.