Creating and Factoring. Structured Settlement Planners and Brokers assist injury victims and lawsuit winners in the process of structuring a financial settlement to pay out over time in a manner best suited to meeting future financial needs. Structured Settlement Factors assist individuals receiving payments over time from a structured settlement in the process of restructuring the payout, usually obtaining an immediate lump sum at a discounted rate.
Wherever you are in the process, there is a wealth of information available on the internet to help you on your way. www.settlementplanners.org is a great resource “to assist injury victims, claimants and attorneys in resolving their legal financial claims, and to advocate the injury victims' right to choose settlement planning advisors and financial and guarantee providers." Their efforts reach all the way to Washington DC, standing in the political and legal arena for the rights of claimants to have the best possible access to financial compensation. The NSSTA is also on the creation side of structured settlements advancing “the use of structured settlements as a means of using periodic payments to resolve personal injury claims, workers compensation, and other types of claims.”
The Factoring side is represented by a handful of funding companies and an army of factoring brokers. While there is a larger organization, referred to as NASP, considered to be the watchdog of the industry, there is very limited information on the organization itself. Structured Settlement factors provide “cash now” for future payments, in essence, restructuring or in some cases, dismantling, the previously approved payout in exchange for a lump sum of cash sooner. The services provided can be timely in the case of dire financial need, but the steep discount is a major drawback for those considering their options. Go to www.ProsperityPartners.com for more information.
Two very different industries, both offering a service to the same group of people, from opposite sides of the product. One group creates structured settlements in the best interests of claimants, the other group factors the current payout to meet immediate financial needs. Whichever service you need, there is plenty of information on the internet to help you along the way.
Jason Rigler "Settlement Advocate" and consultant for Prosperity Partners Customer Service Department.
Article Source: ezinearticles.comWhat are some of the main differences between products and services? And when are these relevant?
Tangibility versus Intangibility
Products are tangible. You can buy pork as a tangible product. You buy it, you ship it and sell it. In the same way as you buy stamps, cigarettes and cars. Financial service companies however, make it possible to exchange pork bellies Futures, on the Chicago Mercantile Exchange (CME). A future is (not the most simple example of) a service with which you can hedge your risk. In this last case, most of the people trading on the CME will never see or smell the pork bellies.
The ownership between products and services is different. A stock could be called a financial product that you own. You can place a stock order which might result in a transaction later on. You bank services a depot fee for saving you a lot of work. You cannot own a service.
Where the product is much more standardized, the service is tailor-made. Companies differentiate in offering products and services, but the variations between similar products of different producers are less prominent than the variations between services.
You can count products in the same way as you can count your money (or have your service you this information). A service is not countable, but is “leveled;” better than the best service is not possible. There is a limit in what a service can offer.
A product is produced by a manufacturing process. A service is offered by the utility element of companies; you subscribe to a service in the same way that you subscribe to your gas and electricity supplier.
And this brings us to the essential of these differences; changing from one (product approach) to the other (service offering) is very complex, because of the last mentioned differences. Not only the process is different but the style change you need to support this change… Good Luck.
© 2006 Hans Bool
Hans Bool is the founder of Astor White a traditional management consulting company that offers online management advice. Astor Online solves issues in hours what normally would take days. You can apply for a free demo account
Article Source: ezinearticles.com1. You need an idea, product or service. Put it down on paper. You're more likely to succeed if you plan. Put down things like name of the business, what resources you need, short and long term business and financial goals.
2. Chart your way to financial success. What price do you intend to sell your product or service for? How much will it cost you to produce? Work out a roughly estimated profit remembering to factor in fixed costs like rent, energy etc
3. Check out your competitors. How much are they selling a similar product for. Can you add something to it to make yours different and hence a better price?
4. Put down your Unique Selling Proposition. Also how are you going to market your product? Via newspapers, a website, through word of mouth?
5. What type of business would you like to be? An incorporation, LLC etc. This is important for tax purposes.
6. Now you've got your business plan together, think of how you're going to finance your business initially. The bank, venture capitalists, angel investors, SBA grants(government), your own savings are all options.
7. Once you've secured your finances, get the ball rolling by making your product(s) or service available to customers using your marketing strategy above.
8. Keep a close eye on your running costs and keep them in-line with your projections.
9. Get you accounts in order right from the start. Saves you tedious work later.
10. Don't be afraid to experiment with prices. All the best.
Self-confessed fan of the Home Internet Business Idea Visit The Home Internet Business Center For More Information
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