Form an LLC as a Small Business Owner
December 1, 2008
If you have your own small business, or are considering beginning one, you need to consider the legal issues of doing so. When you are a business owner, you are possibly subjecting yourself to more legal liability than you had before you owned a business.
Another thing that you have to think about when you have your own business is taxes. Business taxes are handled much differently than personal taxes, so you have to be aware of what is happening with your company taxes. This is a great time to consult with an accountant.
Operating as a sole proprietor is an option, though in most cases it is not the best decision. There are many liability and tax reasons why you might not want to operate as a sole proprietor. Talking to a professional regarding these issues is highly recommended.
So what should the average business owner do? Wise entrepreneurs create a business structure to protect themselves from personal liability and to take advantage of corporate tax laws.
A very common business structure, and probably the best solution for most small business owners, is to think about starting an LLC. Set up and run properly, a limited liability company (LLC) can give you liability protection personally. And with an LLC, you have the ability to choose how you should be taxed.
Setting up an LLC is very simple. The more expensive option is paying a lawyer to form your LLC. Or, you can use one of the reputable Internet business formation services for limited liability company LLC. With prices as low as $115, there is no excuse to not form an LLC for your business.
Always consult with a professional to make sure forming an LLC is the right structure for your small business. It is important to make sure that you have your business set up correctly to reduce personal liability and to take advantage of the tax benefits given to companies.
Do Franchises Really Increase Your Chances Of Business Success?
November 24, 2008
Franchise opportunities in the UK are on the up and every day as awareness of the market grows and more people choose to opt out of the traditional 9-5 work routine and work for themselves. Being employed seems less secure year on year so developing your own stable income seems more attractive.
Due to this expansion, there is now a broad range of franchise business ventures becoming available on the market and profitable opportunities with realistic and provable income opportunities are in high demand as eager potential business owner look for the right Franchise opportunity.
But a question often asked will be is the franchise business right for me?
Suddenly putting your life savings or even your property on the line in the form of collateral or initial franchise deposit can seem like the edge of a massive abyss for some budding business people, especially if they are not endowed with a reap and sow mentality right from the outset. But this is the beginning of the path one must go down if they are to change from employee to employer.
When deciding on a business franchise, select the type of business that fits your interests, skills and financial needs. Everyone has a different lifetime skill set so it is far easier to slot into what you are comfortable doing or a business that you can adapt your existing skill set to meet the needs of the franchise.
An often asked question is will I be successful running a business if I have no previous business experience? Whilst nobody can really guarantee business success franchises do have the advantage here in that they are often grown out of existing successful businesses and quite often the franchisor will have a vested interest in your success as well.
As with any pursuit in life your mental attitude will separate you from the masses so if you have an “it always happens to me” mentality or are easily knocked down and take a while to get back up again, then in reality you need to ask yourself if you should even begin to consider running a business. A positive attitude will always prevail.
As to what types of franchise to choose in a recession? Well, choosing a franchise will depend on you, but in difficult climates often personel franchises do well as both partners may need to work to meet the monthly bills.
Reading About Creative Bussiness Communications
November 20, 2008
Communication lies at the heart of any business. In fact I would even go so far as to say that without communication there can be no business. This did not mean believing they were stupid (something business people often wrongly assume about those who read their communications) but that they just knew nothing about what I was trying to get across. Believe me if it is possible to misunderstand something then people will.
You should never write as though you were having a conversation. When you have a conversation it usually means that part of the message is assumed. You should be conversational (e.g. write using the kind of words you might use if you were having a conversation) but not as though you were having a conversation. Writing is far more complex than this.
A little while ago I was involved in a project where we had to redevelop part of a web site. I had assumed from the beginning that we were working on one part of the site (the part I thought needed the most work) but the person employing me thought it was another part of the site. This continued for about two weeks. This is not an uncommon problem in business.
The real trick is to write in such a way that you communicate your message without overdoing the detail. This is a problem about 90% of web site suffer with. Many entrepreneurs and leaders will admit that some information needs to be available on a need to know basis to prevent that information from slipping into the hands of the media, competition or enemy. Any communication expert who studies business communication will tell you that such things need to be handled very carefully to keep employees and team members fully engaged.
Is it true that not everyone can be trusted with information? Many people would agree, some would go so far as to say that humans cannot be trusted with information, but why? For instance, many folks have a lot of knowledge, experience, observations, insight and original thoughts.
But, like water it does flow, information, like living organisms want to be free. Sometimes, even the folks who have the information do not even trust themselves with the information they have because it’s too easy to make a mistake. As the saying goes; lose lips sink ships.
There is little doubt that the business world locally, nationally and globally has been forever changed by the information age. The future of communication will show us more of the same, just as “The Road Ahead” predicted over a decade ago. But, what will these new technologies be that increase business communication speed of transmission and bandwidth be like? Remember it was not long ago you were chugging along on your dial-up access on your 286 IBM Clone computer and you were quite amazed at its abilities when it first came out.
Soon, we will have super small devices that operate by voice and eventually by thought. So, I guess the question you should be asking since all this is coming fast is; Have you considered how you will use this technology to do all you do better in your business? Well, think about it for a second, you can collaborate on designs. You will be able to see a miniature of whoever you are talking too, watch the body language and get a much better feel for the conversation.
Wringing every dollar out of your Computer
November 13, 2008
Times are tough
The news is depressing, your budget is shot, and your computers are younger than dirt but not by alot. So, what are you gonna do when you need new systems?When your computers get slower and slower while the fear of them dying (and killing your budget with it) grows daily?
There is an answer and it costs little but pays huge dividends.Do basic maintenance on a routine schedule along with backing up your data.It’s just that simple.And the upside is huge.
Think about it.And you save a ton of money if you can keep your computer running, and running longer.Your ROI increases with every day you get additional work out of your existing computers (with a little maintenance assist). The downtime for changeover of systems is reduced saving labor cost. Just build a schedule of simple and quick tasks to keep your computers running longer and faster along with having the “insurance policy” of a quality offsite backup and your money ahead.
So here’s what you need to do:
Keep your Antivirus up to date
Updating your virus scanner is the most important thing you can do for your computer. New viruses are discovered daily. If you don’t update your antivirus program, you are taking a big risk.A virus scanner can’t prevent what it doesn’t know about. Daily updating is the only way to keep damaging viruses at bay. Most virus scanners will automatically update themselves with no intervention on your part. Having a antivirus program with this capability is a must.
Keep your Operating System Up to Date
You not only need to keep your antivirus updated, but also your Operating System (Windows,Linux, MAC). Windows update center for your Windows machines. YUM, DEB, or APT for Linux. And Apple has the aptly named Software Update. You should set whichever system you have to update itself at least weekly. Folks who neglect this are leaving their computers vulnerable for hackers and other attacks.
Do a Little, Save a Lot
If you have a car, you follow a maintenance schedule. You should do the same for your computer. Once a week delete your Temporary Internet files.Check for updates to your antivirus software daily. Keep your computer safe from spills (soda is NOT good for keyboards).And don’t be afraid to get the vacume cleaner out and get all the dust off your computer and keyboard. Dirt makes computers run hotter and that shortens the life of your computer.Just follow this schedule and your computer should last longer.
Back up your Data
Even with all the preventative maintenance in the world the inevitable will occur.Your computer will fail. The fear of this is the number one reason people buy new computers even if their current system is perfectly good.But take a moment to think about this. You can invest a small amount of money for remote online backup of your data and large part of that fear can be elimenated. The newer Internet Attached Storage services are much like antivirus software. Inexpensive, easy to use, and they update your backups automatically.
How much longer can you keep a computer running fast and efficiently with a little maintenance and prevention? I have a system built in 1996 that I’m writing this article on right now. Every day I look to make sure the virus scanner is up and running. I make sure the icon for my remote online backup software is there. I keep the keyboard clean, and clean the computer itself every week.I’ve only upgraded the hard disk and replaced a power supply. That’s it. Now that’s what I call ROI.
Searching For Creative Bussiness Communications
November 12, 2008
Communication lies at the heart of any business. There is a simple thing that can be done to improve any businesses communications and yet few businesses ever pay any attention to it. This simple thing is to never assume anyone knows anything. Believe me if it is possible to misunderstand something then people will.
You should never write as though you were having a conversation. When so much of communication is usually down to visual clues in a conversation when those visual clues are not available communication becomes much harder. I’ve often read in books about writing that you should think of yourself having a conversation. Writing is a tool of communication; it is not simply a way of conveying a conversation.
A little while ago I was involved in a project where we had to redevelop part of a web site. We were both very clear in our minds about which part this was and so never bothered to clear this up. This continued for about two weeks. This is not an uncommon problem in business.
The real trick is to write in such a way that you communicate your message without overdoing the detail. There is nothing more annoying than having to read a simple message with a lot of other words in the way. Many entrepreneurs and leaders will admit that some information needs to be available on a need to know basis to prevent that information from slipping into the hands of the media, competition or enemy. Indeed, this can be a catch-22.
Is it true that not everyone can be trusted with information? Well, information is power and if you power-up those who cannot control their integrity levels or choose not to, then in a way giving them the information makes you an accessory to their actions. For instance, many folks have a lot of knowledge, experience, observations, insight and original thoughts.
But, like water it does flow, information, like living organisms want to be free. Thus, the information just like water stopped in the river by beavers, well, eventually it will find a way, it always does. As the saying goes; lose lips sink ships.
There is little doubt that the business world locally, nationally and globally has been forever changed by the information age. Today, the world is closer together than ever before and an economic crisis in any one country has far-reaching effects elsewhere around the world. But, what will these new technologies be that increase business communications speed of transmission and bandwidth be like? Remember it was not long ago you were chugging along on your dial-up access on your 286 IBM Clone computer and you were quite amazed at its abilities when it first came out.
Soon, we will have super small devices that operate by voice and eventually by thought. The storage capacity will be better than the library of congress even for a device the size of a mini-cell phone. Well, think about it for a second, you can collaborate on designs. You will be able to see a miniature of whoever you are talking too, watch the body language and get a much better feel for the conversation.
Small Business Entrepreneur Phone System
November 3, 2008
As a business owner, you have to have a way for your customers to communicate with you. Phones are still the most common and convenient form of communication in the world today. Can your current small business telephone service do more for your small business?
Allowing your existing business phone service to do more for you is all that a small business PBX service is about. Working with your existing small business phone service, a virtual PBX phone system greatly enhances your most basic form of communication.
Making your existing phone service behave like a bigger company’s telephone service is what a small business PBX service specializes in. If you have ever called a larger company that has an virtual telephone system that greets you and lets you pick an employee or department to talk to, then you know exactly what a business PBX will do for your company.
Utilizing your existing telephone lines, a small business PBX gives you either a local or toll-free phone number that serves as your company’s main phone number. When a customer calls your telephone number, they are greeted by your auto attendant and given the choice of where their call should be directed.
Call routing choices are completely in your control. The beauty of a business PBX service is that inbound calls can be routed to any phone in the world, all it needs is a dial tone. This means that you can be vacationing in Maui and receive business phone calls on your cell phone.
With plans beginning at under $10 per month, you have to have a small business PBX service for your small business. Two of the biggest providers are RingCentral and GotVmail. Our testing shows RingCentral to be the best choice, offering the best feature set with comparable pricing and an absolutely free 30-day trial.
From powerful virtual auto attendant features, to ACD call queuing ability, to online voicemail, a small business PBX service really brings tremendous value to your existing small business phone service.
The bottom line is that if your business relies on the telephone to conduct business (and just about all businesses do), then you really owe it to yourself to give business PBX services a look. You will be amazed at how much one of these communication services can change your current business phone system.
Millionaire Mind Intensive Seminar Review
October 16, 2008
When I first signed on for the Millionaire Mind Intensive Seminar, I was a little
sceptical. “This will take up my whole weekend,” I thought. “I read the ‘Secrets
of the Millionaire Mind’ book already. Sure, it was great, but do I really need
to sit in a room for three days to hear all that stuff again?”
“Must I do a bunch of hokey exercises to prove I get the point? Do I honestly have to jump through all the hoops to prove that I’m serious about making money?”
T. Harv Eker showed me the truth: yes, I needed to do all of that! And I’m happy to say that not only was it worth the time, it was worth the money. Peak Potentials Training asked for 3 days of my time and gave me immeasurable skills in return, showing me exactly what I needed to do to attain my financial goals.
I did already understand the basics, thanks to reading T. Harv Eker’s amazing book. But until I participated in the Millionaire Mind Intensive I didn’t ‘get it.’ But as I did the exercises and listened to the speaker’s words I began to understand the concepts in a brand new way.
The Millionaire Mind Intensive doesn’t only teach you proven strategies for the creation and maintenance of wealth. It goes far beyond that, giving you the actual experience of putting these techniques to work through proven exercise examples. You learn how to:
*How to speed your path to financial freedom - up to 4 times faster!
*5 financial habits the wealthy live by
*Avoiding the main cause of nearly all financial troubles
*12 different ways you can earn passive income - even while you sleep!
Besides that, the exercises are a ton of fun. In my group we did a lot of great things - we sang, we made a gorgeous pictures, and we came awfully close to setting a reall $100 on fire. With each new exercise or activity T. Harv Eker taught us valuable lessons about our financies and attitudes toward wealth and money.
Thankfully, Peak Potentials Training provides all the amterials you need. No previous training required - just bring your brain and a great attitude. Oh, and it wouldn’t hurt to bring a pen and some extra paper. You’ll want to take a lot of notes!
By the end of this course I had an utterly new and different attitude towards money and success. Before I attended, I had the mindset of someone who hopes they might, maybe, be a millionaire some day. After the course, I had the mindset of a millionaire - full stop.
T. Harv Eker teaches you to be truly “rich” in every part of your life, not just financially. All the same principles that teach you about wealth creation can be used to create true peace and happiness throughout your life.
For me, the Millionaire Mind Seminar experience was one of intense breakthrough learning—and yet, it was easy at the same time. Being in the room felt comfortable, talking to the other participants was fun, and paying attention to the material was effortless. I actually found myself looking forward to each new exercise and the experience of learning.
What’s more, the intensive worked well for everyone in the room. I was surrounded by rich people who wanted to increase their investments, poor people who wanted to get out of debt, young couples who wanted to learn the best way to start their financial lives together, and mid-level earners looking to break out of a rut.
We all got what we needed from this seminar. I didn’t talk to a single person who felt dissatisfied with what we experienced—and I talked to an awful lot of people. Heck, I didn’t talk to anyone who wasn’t absolutely elated with what they got from the intensive!
And they should be happy. What we learned can start to work within 24 hours, if you take action right away and follow the strategies taught in the program. We each received a “90 Day Wealth Conditioning Program” work book that did wonders for keeping me on target months after the training.
You will definitely see the best results if you do the worksheets everyday for the whole 90 days. It’s a very small time commitment - just 10 min or so each day - to ensure you continue on your path to success.
I appreciated that they didn’t pressure anyone to buy other Peak Potentials Training products. They told us a bit about them but it was completely up to each of us to decide if we would benefit from them.
But, knowing that, I probably will take another course soon. I know there’s so much more T. Harv Eker can teach me! I would really love to learn more about the passive income idea. They gave us 12 different strategies, but I want to know more! Thankfully, that’s one of the courses they offer.
I highly recommend you make time to attend this seminar. If you’re not sure you have the time, try the book - and then make time! This seminar turned out to be the most eye-opening learning experience I’ve had in years.
Instead of the typical “get rich quick without lifting a finger” presentation I expected, T. Harv Eker’s Millionaire Mind Intensive showed me how to create wealth for myself, my business, and my future. With the secrets of the millionaire mind at my fingertips, I can’t lose!
My recommendation? The Millionaire Mind Intensive seminar is absolutely worth it. The skills I learned have given me the tools I need to ensure life-long financial success.
About Article Marketing Online - Can Article Marketing Online Help Your Business?
October 13, 2008
To read an updated version about how things work in article marketing also check out Free Article Marketing Information.
Can article marketing help your business? The answer is yes because not only are you able to post your articles for free but you get to reach a specific audience that is interested in your product or service.
Article marketing can help your business the minute you submit these to different article directories. If these are approved for posting, people will be able to visit your site or may want to get in touch with you as they click the link or look at the resource box.
The resource box is usually found at the bottom of the web page. Here, writers can put their name, website and email.
If your article had a significant impact on the reader and they would like to post your article on their websites, they can do so which means more people will be able to see your work without you having to do anything.
Articles that are posted in the directories usually ask you for keywords so this can easily be found when someone visits the site. These keywords are also given to search engines so if people type it in, your article will also appear and they will be able to view it.
Another way of getting people to visit your site is giving this in the form of a report or e-book to potential customers. With all the information there, that person will surely want to know more and get in touch with you in the future.
People who are serious about article marketing have to venues where the articles can be displayed. The first is high traffic distribution sites while the second is submitted to highly relevant niche publishers. The difference between the two is that although the second will not be read by many, it will be easy for those who run this site to refer qualified visitors to the author.
It doesn’t matter if the article you are writing about is for a small, medium or large business because there are several ways to promote it. For instance, if your article is for a small restaurant, you should put in the title something related to the location of the establishment. The same goes for the medium and large scale business. The key here is to come up with a catchy title that your audience can relate to.
Of course there are also other ways of promoting your business online such as paying for pop up ads and expensive Google Adwords campaigns. But why would you spend when you can get this for free? So, take advantage of this free marketing tool and see what it can do as it has done for others. You surely wouldn’t want to pass up on the chance so write something about your business or get someone to do it for you.
Is article marketing better than conventional print publications? The answer is yes because people will easily find your article by typing in some keywords. Print publication on the other hand is difficult because you will have to browse through how many back issues of newspapers and magazines just to find it.
Also, conventional publication is only relevant to the time it was written. The online form will be there for many years ahead as this information is stored somewhere in the cyber space. Just make sure this is updated if something new comes along so you are sure that article marketing is able to help your business.
10 Things to Look for When Choosing a Website Designer
October 3, 2008
10 Things to Look for When Choosing a Website Designer
Choosing someone to design and develop your website may seem overwhelming at the least. With more and more people getting into the web design business, your options grow more by the day. And not all designers are equal in price or services. You can pay as much or as little as you want for a website, and get as many or as few features as you want. So how do you know who to choose for your website designer and what services to go with?
There are a few basic things you can look for, and questions you can ask when choosing a designer to do your website.
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Remember who is in control. It is your website and your business. Ultimate, it is you who must be happy with it, not the designer. This does not mean you shouldn’t listen to their suggestions, but it does mean that you make the decision about who will design your website. If you are overwhelmed and don’t know where to start, or how it all works, it may be tempting to just go with the first person you find, or to let someone convince you that they are the ones who should do your site, but be careful and take your time. It will be well worth the extra consideration to get a website that you are happy with and works well for your business.
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Ask to see the designers portfolio. Any designer who is experienced enough to charge for their services, will have examples of other work they have done for you to see. If it is not readily available on their website, ask to see it. Look over what they have done and see if you like their overall style. Take note of designs and features that you would like to see on your own website.
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Look for customer testimonials. Find out what their previous customers are saying about their work! If you want to take it a step further, visit some of the sites they have done for other companies, and email the site owner and ask for their feedback. If they were happy with the work and the service, they will likely be more than glad to tell you about it!
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Visit the designer's site. How does their own site look? Are their layouts broken, do they have typos or broken links? Do they present their own site in a professional and attractive manner? If not, beware. If they can’t take the time and effort to make their own site good, how much effort do you think they will spend on yours?
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Look at their prices. While price shouldn’t be the only deciding factor, it can shed a fair bit of light on the design company. Does the price seem reasonable to you? Is it too high? Too low? You don’t have to pay huge amounts of money for a website, but you also should be wary of companies that only charge a very small amount – you get what you pay for! You may not know much about how a website is built or what is involved, but you may have a fairly good idea of what you want on your website. Is it ecommerce? You can generally expect it to cost a little more. Do you just want something simple, with some text, photos, contact form? Then it shouldn’t cost you over $1000 – if that! Think about the kind of features you want, the size of your site, and guess your costs accordingly. If the price seems to high or too low, ask them why they are charging that. It may be that they are charging less because they are new in business themselves, in which case, if their work is good and they seem trustworthy and good to deal with, it may be an excellent way to save some money, and help them build their portfolio. If they are charging a lot and it seems expensive, it may be because they are a big company and have several employees working for them, have been in business for years and are at the top of the field. In this case, you are paying for their experience.
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Find out what is included. Many web design companies will offer you a package – you get the website designed, along with a domain name, email address and web hosting for a certain period of time. They may have other benefits and features that they offer with a package as well. This can take a lot of the hassle out of the process for you. If the domain name, email and hosting are all included, it means you don’t have to try to set it up yourself or find it somewhere else.
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Do they do website updates? Updating your website on a regular basis is important, as it keeps it fresh and new, and gives your customers a reason to keep visiting! I recommend that you find a web designer who can do the updates for you, at a reasonable monthly/yearly fee. Some will even include the first weeks, months or year of website updates with the package. This is another way to take the hassle out of it for you, so that you can focus on your business.
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How fast do they respond to your emails and messages? Be reasonable, and remember they are busy people as well, but at the same time, if they value your business, they should respond quickly, within a day or two at the most. If they take a long time getting back to you, consider it a warning. You don’t want to be stuck with a web designer who does not pay attention to your concerns about your own website. You want someone who will respond quickly and have the work done quickly.
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Beware of templates. While they are quick and easy to use, and usually cheaper, they are still templates, which means that anyone else can also use them. It is far better to get a custom design, one that is unique and created for your business and brand.
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Look at their overall attitude and professionalism. Pay attention to your first impression. Do they seem shifty and untrustworthy? Is their appearance shabby or rough? Do they seem to know what they are talking about, or doing? Do they talk down at you, or do they treat you with respect and explain things in everyday language? You want a designer who respects you and your business and is going to put their very best effort into your website and ensuring that you are happy with it.
If you keep these tips in mind, you will be more likely to find a web designer that you will be happy with and that will create a website that will compliment and work for your business.
About the author: Advantage Website Solutions is a web design company that specializes in custom web design and development for small businesses. For more tips on developing, perfecting and promoting your professional online image, from building a website to marketing online, visit Tips by Advantage, where you will find more articles and practical advice.
Merchant Account Comparison - A Quick Way To Compare Credit Card Processing Accounts
September 29, 2008
Being able to take credit cards is very important to any business that wants to actively sell goods and services on the web. When businesses started selling online it was thought that accepting plastic was a bad idea, because it applying a real world technology to the digital world. Startup companies offered e-currencies eg “flooz”, but the web-based currencies didn’t flourish. The truth is, ten years on from the launch of businesses online, still typing in credit card numbers to buy online and accepting credit cards when offering goods online is still hugely important.
There are basically two different ways to accept credit cards online. Let’s compare merchant accounts. A business can either sign up for a merchant account, which allows them to process credit cards via a bank gateway, or the business can sign up with a third party payment service, who actually processed the credit card orders for the business selling the products. Obtaining a full merchant account costs more initially, but has smaller per transaction costs. Using the services of a third party solution costs less initially, but has higher per item costs.
The decision as to whether or not to get a full merchant card processing account or use a third party payment service is only a question of crunching the numbers. Let’s look at two different business types and compare merchant account benefits…
In most cases, established businesses who are already trading locally and simply want to expand online will be more suited to getting a merchant account. Most likely, It’s most likely that they will already have an offline credit card processing account and will expand the remit of that account to also do “MOTO”, which is “Mail Order Telephone Order” processing and simply means that the cardholder isn’t there at the time of purchase.
For micro businesses starting to sell products online, it’s think about testing their marketing using a third-party payment service. The advantage is that there’s very little initial cost so they can test their market cheaply and easily. If the market is profitable, they can eventually look to decrease the per-sale fees by obtaining their own merchant account. If sales are poor, they can at least exit the market without having spent a lot of cash to get a merchant account.