Many people dream and talk about starting their own business for years if they ever get around to doing it. It's important to take a lot of things into consideration before starting your business, whether you'd like to start an L.L.C. or start a corporation.
Make sure there is a demand for your product or service. You may have a great idea and a great product at hand, but if you're planning on opening up an ice cream shop in the south pole, you wouldn't do to good, because there is no demand for it. Also consider your competitors, if there were a barber shop on every block in a certain neighborhood, you probably wouldn't want to open another one in that same neighborhood, even if you did have the superior service, sometimes it's just too hard to convince people to stray away from their regular spots.
Have a marketing plan. If you're opening a business, plan on what type of marketing strategies you want to take to ensure people know about your business. You may have the best product or service, but if no one knows about it.
Learn about what filings you need to complete before starting your business. A lot of people are under the assumption that they can just get a business license or file for a corporation and they're ready to go, but depending on your county and city and the type of business you're running you may need additional documentation to be filed in order to be in compliance with the your local government.
The reason you start your own business is to be your own boss and have fun doing what you do, so while it's important to keep an active part of starting and running your business, it's also important to not stress too much. Good Luck!
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When you start a buisness too often there are people in each ear telling you how to run your business. The truth is, in a successful business, you follow your business plan but often times you have to make changes to what you're doing and outsiders will be quick to tell you how to improve or fix a problem. Most of the time they're giving you tips to help you but sometimes there is no right or wrong way to go. What worked for your friend's business might not work for yours, and what works for you might not be the best for your friend's business. It's important not just to take someone's word and dive into changes or new ventures, but do your own reasearch to see what would be best for your business. If something works for you be sure not to change it too much, for example, constantly changing your website, for one, it doesn't build a strong brand for your company and it confuses clients. It's important for your business to stay consistant but if you must make changes, make them subtle. There is no right or wrong way to run your business, but as long as you make good choices for your business, you can count on success.
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When I was a teenager, I worked for a small store that sold mailing materials and offered post mailboxes as well as shipping services. It was a well run store, but the reason the business owner even decided to open up shop was so that his dental practice next door could utilize the services of the mailbox store. It may have not been the best business move, especially since the owner didn't pay much attention to trying to market himself to get outside business. The business closed up after about a year, but it wasn't just because of his lack of commitment to the business, but because he had no clue of how to run the business, once I am the one other employee left our positions he wasn't sure what to do. It's important as a small business owner that you understand the duties of all employees, you may not know how to do all of the duties, but since the business is very small, you should know how to perform certain tasks in the even that one of your employees is out for the day or even has an emergency and has to leave for an extended period of time. There are basic tasks that small business owners sometimes forget to learn and it's important to have some sort of understanding on what duties are delegated where and what the task at hand requires. Obviously you're busy yourself so maybe during slow times you can ask your employees to write a manual or a list of their duties for the day and how to perform the tasks, that way if they're ever gone, you can do it yourself or hire a temp agency to send you someone to do these tasks while your employee is out. If you want to open a small business or have questions about filing how to form an L.L.C. or how to form a corporation in any state, give us a call at 866-999-8200.
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Networking is an important tool that shouldn't be forgotten about when you're outside of the office. There are a few things you should consider when networking and it'll make your experience, as well as others around you more pleasurable.
There's thin line between networking and just being plain pushy, if you're too pushy you can easily come off as a sleazy salesperson just looking to make the quick buck, when networking you're trying to build relationships and not trying to make quick sales. Being pushy is a way you can guarantee that the person you're talking to will never call on you for work, who likes to work with a pushy person?
Another important aspect of networking is to be clear about what you or your business does. Sometimes I'll have friends call me and say "hey I know a guy who needs you do to...." and while I appreciate the thought, it will be something that I know nothing about. If you specialize in cupcakes, state that instead of saying "pastries" because you will get requests for other pastries that you may not provide, and though it might be clear to you, your potential clients may be slightly confused.
When networking also give the other person a chance to speak. Listen to what they do, and be genuine, you have to be interested in other people's business if you want them to be interested in yours. People can sense if you're not genuinely interested in what they have to say, also give them an opportunity to ask questions about your business and ask question about theirs.
If you're interested in starting a business by forming a Limited Liability Company or filing for a corporation please contact us at 866-999-8200.
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The oil spill is going on two months not. There are numerous reports that BP purposely avoided safety protocols in order to save money. The result of these decisions have caused the worst oil diaster in U.S. history far exceeding the leak by Exxon.
Leaders of BP met with President Obama to discuss the oil spill. Discussion revolved around the suspension of BP dividend payment and a committment of $20 billion for clean up and damages to local business who have suffered in the crisis. Experts are now saying that the liabilty of the company could even exceed $20 billion. It is uncertain on what the final tally will be after the company pays out all legitimate claims. Experts are even speculating that BP won't be able to survive after all is done. Clean up of the Gulf of Mexico can run in to years if not decades. There are still pockets of problems with Prince William Sound where the Exxon Valdez oil spill occured.
Although the employees of BP aren't financially responsible for the incident because of the liability protection of personal assets in forming a corporation. The company however is vulnerable to lawsuits due to its negligence in the matter. Although people are not usually liable, the CEO and leaders who made these decisions to avoid safety protocols may be criminally liable for their actions. So therefore liability protection may protect personal assets, individuals are still responsible for their actions.
To find out more about corporate liability protection, you can visit our information page.
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We've talked endlessly about having a strong web presence, but it's also important that your web presence is the correct one. If you go with a professional web designer it's important to be clear with what your business does and how you want to be portrayed, the possibilities are endless when it comes to web design, and sometimes it's ok to let your designer run free with their ideas. Often times when starting up, you want to include too many bells and whistles on a site that aren't necessary, and your designer should inform you of that. It's important to remember this because you want your website to look professional, if you have a flashy site, many clients will dismiss your company solely based on that. The best advise is to stay simple and stay professional, you can add on to your site later as your company grows, but there are certain things that should always be included and easy to find on your site. The contact information is one of the most important features of a website, it should be easy to find. If you're starting an e-commerce site it's important that your shopping cart and checkout process is fast and easy, people are too quick to go to another site if yours isn't easy to figure out.
If you need help starting a small business or starting your own website please contact us at 866-999-8200.
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Welcome to another addition of our small business tips. When you start out a business you have an idea of all you're going to spend on, it's important to not spend on what is not needed when you're opening a small business, for example, it's common for small business owners to outsource when it's really not necessary. You don't need a fancy PR firm when you first start, most advertising should be done word of mouth, when you launch a major advertising campaign it's something that needs to be around for a while in order to make an impact on your sales, and most start ups do not have that kind of funding. It's important to utilize free services such as Twitter and Facebook, another important part of marketing without breaking your budget is to have a website built. An online presence is necessary in this day in age, and we've written about it before, but it's just something that should not be cut back on while trying to start your business.
The main thing is to not go overboard, have a budget and stick to it, cut back on things you don't need. If you have any business questions, or are interested in a starting an LLC or corporation give us a call.
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When you start a business you'll have a lot of people telling you what to do and what not to do, it's important to realize where this advise is coming from, if the person telling you not to start the business, because most small businesses fail, has never tried to start a business, who are they to tell you what you should or shouldn't do? The main thing is to focus on what you set out to do and try not to steer far from that goal. A lot of people will also tell you not to worry about anything and everything will work out, while you shouldn't kill yourself by overworking, part of owning your own business is worrying about things, that's what makes it yours, and when you're focusing on the right areas of the business your business should succeed.
If you're looking to start a new business, whether that be a corporation, limited liability company or file for a DBA, we can help.
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When you're starting a business with someone it's important to know that your partner or partners are just as passionate about making the business work as you are. If one person is less thrilled about the business than others, chances are that they're not going to put as much effort into the business as you or others, this can cause conflict in the business. When you're choosing partners to go into business with it's important to not push the idea of the business to anyone and make them feel pressured into joining your venture. Sometimes friends or family members may convince someone to join their business without thought of the outcome, not only strained business relationships but possibly strained personal relationships too. A good tip is if someone is interested in the business but not interested in running the business ask them if they can invest as a silent partner, this gives you the freedom to run the business yet it establishes that you will be doing the work. Whenever starting a business, whether it be a corporation or an LLC or even just a partnership, it's important to have roles delegated so that everyone in the business knows what they are responsible for.
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We've been notified that a lot of our clients in certain states are receiving mail requesting payment for services that are required by the state. Our policy is to never sell any of your information though some states do provide your information to marketers.
California is one of the biggest states that has marketers targeting new business owners. The marketers will send out a document that looks very official requesting payment for the Statement of information. The statement of information in California only costs about $25 to file, while the solicitors ask for up to $100 over that fee. If you receive any suspicious documents be sure to read them thoroughly as the these companies are required to have "THIS IS NOT A GOVERNMENT DOCUMENT" on the document as well as the envelope, if you're still unsure, give the company a call and find out if they're just proving a service or if they are actually the state corporation office, they will tell you if they are an actual state office or just a company soliciting business.
Florida has also issued a statement on their website regarding the same kinds of solicitations in their state.
Because the documents look official many new business owners get tricked into paying these extra fees. If you have any questions about California LLC, California Corporations or any other state business filings, please give us a call at 866-999-8200.
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