Putting Together A Business Plan That Really Works

Posted on January 25, 2010 by Shane

When you get a business going it is generally something that you have been thinking about for some time. A lot of the time this idea is something that hasn’t been done yet. You might have to figure out new ideas the whole way to getting set up. You have to have some kind of a business plan when you go into business. The more careful you are about it and detailed that it is, the easier your business life will be.

Now at first this may sound like a very difficult task, but a business plan is simply a layout of your initial opening expenses, where you will open your business and how much it will cost you in living expenses and business expenses through the first year of business. One of the best ways to accurately plan for your business is to speak to others who have opened a business like yours and find out what expenses to expect.

When you have everything down on paper it will help you to keep track of everything that you need to take care of. You won’t forget anything if there is a list nor will you be surprised by something that you weren’t planning. You will want to have down the cost for advertising, promotional products, and if you need to do a tradeshow, that expense. You have to start getting business exposure and you want to budget for that.

When you are putting together your business plan you want to add all the details that you can. Even the smallest details will be a hassle if you forget them. Little things do add up too. So you don’t want to neglect listing all the small expenses that when added together are a lot. You have to have a budget for all of the things that you will need for daily business too. You need pens and pads of paper for business and you might as well have these customized to show your logo or business name and information.

For many people having a business is a long time dream that can finally come true. That is why you want to plan carefully and budget well. If you do tread lightly you will have a much greater chance of success. There are many factors that can make or break a business and the more careful you are and well informed the better off you will be.

There are wonderful promotional items that your customers will keep and use. There are thousands of things that can be used as imprinted products so you have plenty to choose from.

Article Source: http://www.articlealley.com/article_1363176_15.html
Author: JenB

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What is a registered agent and do I need one?

Posted on January 25, 2010 by Robert Montgomery

In every state, a registered agent is required for any corporation, LLC or other entity. A registered agent is a person or entity which has a street address (cannot be a post office box) in the state of filing who can accept service of legal papers for the entity or who receives important documents or mail on behalf of the corporation from the state Corporate Filing Office.

The purpose is simply to designate a person or business on the records of the secretary of state as the responsible party to receive information, legal papers, documents, etc., on behalf of the entity. The registered agent is most commonly the person who is forming the new entity. There are companies that act as registered agents and can be used for this purpose, but they charge annual fees ranging from $100 up to $300.

Larger companies who must register in many different states as a foreign corporation doing business in that state, often use one of the larger national registered agent companies for that purpose. A company, although more expensive, can be helpful if you are gone a lot or if you don’t have a physical address to receive legal service or mail.

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What type of person starts a business from home anyway?

Posted on January 25, 2010 by Shane

Well primarily, ambitious ones. People who don’t want to settle for average mostly. Now before we jump into into this post, let’s talk about some fundamentals here. I’ve worked with Physicians, Students, College Faculty, Baseball Coaches, Sales Representatives, Engineers, Mental Health Administrators, Fed Ex Drivers, Nurses, CPA’s, Attorneys, Police Officers, Firemen, Teachers, IT Geeks, Realtors, Loan Officers, Appraisers, Pharaceutical Reps… should I go on here?

Basically every type of profession on earth. See lots of people look at starting a small business from home on the side of their full-time career. For many reasons including more money, more free time, more control of their future, more long-term security, more freedom, more fullfillment, tax advantages, and perhaps just to be a part of something and meet new friends. Just because an Attorney or Physician makes $250K doesn’t mean they are content with their life. In fact, usually the more successful the person is in their primary line of work, the more likely they are to have success in a home business. But also, students and blue-collar workers have also had success in the industry so you really can’t pre-judge anyone.

What type of personalities start an internet business? I have seen it all! Choleric: This is the commander-type. Cholerics are dominant, strong, decisive, stubborn and even arrogant. Melancholy: This is the mental-type. Their typical action involves thinking, assessing, making lists, evaluating the positives and negatives, and general analysis of facts. Sanguine: This is the social-type. They enjoy fun, socializing, chatting, telling stories – and are fond of promising the world, because that’s the friendly thing to do. Phlegmatic: This is the flat-type. They are easy going, laid back, nonchalant, unexcitable and relaxed. Wanting a peaceful world above all else. No matter what type you are, you too can have success working for yourself from home.

Let’s talk lastly about some of the success traits that direct sales entrepreneurs often possess. They are hard workers. They get up early, stay up late, and are not afraid to take action. They realize that learning is key to their success, they don’t necessarily like school, or class, but if someone is willing to share tips or techniques with them that have already led to their success, they are willing to listen and take notes. They also are great dreamers. They are not happy where they are. Thankful yes. Content no. Thankful for what they have, but always dreaming and thinking about the possibilities for down the road. They have talks with their spouse that start with the words “what if”, or “oneday soon”. Lastly, they may not look forward to talking to people, but they are quick to get over that one. Owning a multi-level marketing company is all about networking, growing a team and helping others. They quickly learn that giving back and being generous with their time gives them a lot of satisfaction. A lot more than answering to their manager does.

After reading Chris’s What Type of Person Starts a Home Business Anyway? article, thousands of internet entrepreneurs have achieved success in their Home Business by visiting Chris Swope’s MLM-Lead-Prowebsite. When you visit the site, you’ll have an opportunity to get access to $347 in training bonuses, without spending a dime.

Article Source: http://www.articlealley.com/article_1363180_15.html

Author: Chris Swope

http://articles.mlm-lead-pro.com

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Grassroots Marketing 101: 4 Steps To Working With The Media

Posted on January 14, 2010 by Shane

When it comes to an interview with the media, always P.L.A.N.

Step 1: Preparation
- Know the interviewer and the context or subject of the interview
- Know your audience (i.e. business readers vs. soccer moms)
- Research the journalist and the publication (listen to the radio show or read previous articles).
- Consider and write down in advance your three key messages – the three main points you want to get across to the reporter, and then practice those.
- Anticipate questions.
- Review your business marketing materials.

Step 2: Levity, Laughter, and Lightness
- Let your personality shine through.
- Relax and have fun, but avoid jokes.
- Keep it conversational but factual.
- Remember, this is your chance to build a relationship with the journalist. Be yourself.

Step 3: Agenda
- Prepare key points in advance
- Bring your own agenda topics
- Avoid just answering questions – the the reporter does not ask questions that directly address things you want to talk about, bridge to your key points.

Step 4: Never…
- Say “No Comment” -instead offer “what I can tell you is…”.
- State unsubstantiated claims.
- Make disparaging comments about competitors products.
- State personal recommendations, stick to the facts.
- Argue with the reporter or lose your cool. If a reporter asks tough questions you have not prepared for, let the reporter know you can get back to him/her with more information.

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Five essential documents needed to organize a corporation.

Posted on January 14, 2010 by Shane

The essential documents required to fully organize a small corporation include the following:

  1. Articles of Incorporation. This document, which is also sometimes referred to as the Corporate Charter or Certificate of Incorporation, is the official document filed with the Corporate Filing Office (usually the secretary of state’s office). It sets out the basic organization and structure of the corporation. The required contents vary from state to state but usually include, at a minimum, the name of the corporation, the name and address of the incorporator, the name and address of the registered agent, and the stock structure of the corporation, that is, how many shares of stock are authorized to be issued.

    Optional provisions of the articles of incorporation may include such items as special stock structure for preferred shares of stock, the names of the initial directors, pre-emptive rights for shareholders and an indemnification clause for directors. Any changes made to the articles of incorporation must be approved by shareholders and filed with the state. Most Corporate Filing Offices have standard forms available for articles of incorporation.

  2. Bylaws. This document is not filed with the Corporate Filing Office but is an essential document for the organization of the corporation. Bylaws contain the regulations and rules adopted by a corporation to govern its internal affairs. Bylaws provide the framework for conducting corporate business such as: requirements for holding meeting, voting requirements, quorum requirements, qualifications and appointment procedures for directors and officers, etc. The state corporation law provides the requirements for bylaws. Most bylaws are fairly standard but are important and should be read and understood by the officers, directors, and shareholders of the corporation.
  3. Minutes of Organizational Meeting. Once Articles of Incorporation are filed with the Corporate Filing Office, the initial directors of the corporation should hold an organizational meeting. (If initial directors were not named in the Articles of Incorporation, then the incorporator can appoint initial directors by way of a Consent in Lieu of Corporate Meeting or by adopting a resolution for that purpose). The main business normally conducted at an organizational meeting includes the approval and ratification of the Articles of Incorporation, adoption of bylaws, the appointment of officers and the authorization for the issuance of shares of stock. Other business may also be conducted as needed.

    If all directors are in agreement, then the business of an organizational meeting can also be conducted by preparing a Consent in Lieu of Corporate Meeting document providing resolutions for the various items of business described in the paragraph above. The consent must be signed by all directors.

  4. Stock Certificates. Shareholders own a corporation and stock certificates are evidence of their stock ownership. Certificates are not required in most states, but it is still considered good practice to issue certificates to help provide evidence of the organization of the corporation. From a purely practical point of view, people like to have something to show ownership and shares of stock provide that. However, the real authority for ownership of shares is a board of director’s resolution authorizing shares to be issued to a certain individual or entity.
  5. Shareholder’s Agreement (optional). Some shareholders desire or need to enter into a more specific agreement concerning their relationship, especially with respect to the issues of what happens when a shareholder dies or decides to leave the business. Sometimes these issues are covered in the bylaws, but most often special provisions are set out in a separate agreement such as a Shareholder’s Agreement or a Buy-Sell Agreement. These documents may contain special procedures and requirements which must be followed if a shareholder dies or decides to leave the corporation and can also provide a formula or procedure for determining the value of shares.
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Grassroots Marketing 101: Write Your Own Biography

Posted on January 12, 2010 by Shane

News articles, feature stories and interviews with local reporters allow you to provide information regarding your business while simultaneously building your credibility as a reliable news source. Once you have established relationships with journalists the possibility of getting additional stories published greatly increases.

Your biography will help promote your image to customers and the community. Typically, a biography can be anywhere from a few paragraphs to a page in length. Your biography is a condensed version of your career history and is used to highlight your relevant experience to establish your credibility.

Your biography will inspire confidence in your abilities and differentiate you from your competitors. Unlike a resume, contact information, dates of employment and other specific information are omitted on a bio. Keep in mind your biography will be used for networking and for providing additional information to local media.

How To Write Your Own Bio

Before writing your BIO, answer a few of the following questions:

  • What is your business philosophy?
  • How did you start in your area of business?
  • What is your relevant experience?
  • What are your goals and/or successes?
  • Do you have any relevant training or education?
  • Can you provide background information on your business?
  • What sets you apart from your competitors?
  • What is your personal education, or what are your certifications?
  • What is something unique or personal about your background?

As you write, think about your audience. Who will be reading your biography? If you are writing the biography primarily for a journalist, the emphasis may be slightly different than if you are writing it to entice customers to your business.

Once you complete the biography, the last thing to do is verify the accuracy of your facts and information. Accuracy is a critical component to your credibility.

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Is it necessary or wise to reserve a corporate name in advance?

Posted on January 5, 2010 by Robert Montgomery

It is not necessary to reserve a corporate name in advance if you have checked the name and have found it available and are ready to file your corporation. Reserving a name in advance means you pay an extra fee. However, if you are not ready to file the corporation for a period of time, but want to make certain no one else takes the name, then it would be wise to reserve a corporate name. This can usually be done by filing a form with the Corporate Filing Office.

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What is the first step required to form a corporation?

Posted on January 4, 2010 by Robert Montgomery

Unless you are reserving a corporate name, the first step to filing a
corporation is to file articles of incorporation with the Corporate Filing Office of your state. Most state websites have a standard form of articles of incorporation online and you can just fill it in and print it off.
In most states, the effective or starting date of the corporation is when articles of incorporation are received and stamped by the Corporate Filing Office. Some states will expedite this process for a fee and other times it may take awhile.

The fastest way to get your articles of incorporation filed is usually by hand carrying the document to the Corporate Filing Office and paying the required filing fee. In most cases, your corporation will be stamped effective while you wait. Some states now have online filing or filing by fax. Check your the Corporate Filing Office website for details.

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Can I use a name to conduct business that is different than the corporate name?

Posted on December 31, 2009 by Robert Montgomery

A corporation can have an assumed business name (abn) (also sometimes referred to as a dba – which stands for – doing business as) just as an individual can. For example, your corporation name might be XYZ Landscaping, Inc.., but you want a division of your company to do business as Backyard Ponds. You can do this if you file an assumed business name form showing XYZ Landscaping as the registered owner of Backyard Ponds. Each state has its own procedure for filing an assumed business name, but it is usually done by filing a form with the Corporate Filing Office.

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What steps are required to complete the corporate organization?

Posted on December 29, 2009 by Robert Montgomery

Step 1. File Articles of Incorporation. The initial step in incorporating a business is to file articles of incorporation in the state Corporate Filing Office, which is usually the secretary of state’s office. This is done in the state where you choose to organize and/or do business.

Step 2. Conduct an Organizational Meeting. Once the articles of incorporation have been filed, the incorporator(s) or initial directors should hold an organizational meeting.
If no directors are named in the articles of incorporation, then the organizational meeting will generally be held by the initial incorporator(s).

If directors are named in the articles of incorporation, then the organizational meeting will usually be held by the directors. (An alternative to holding a meeting is to use a written consent in lieu of meeting if all participants agree on the action to be taken.)

There is no one required way to conduct such a meeting. Typical actions taken at the organizational meeting may include the following:

  • Appoint Directors. At the organizational meeting, the initial incorporator(s) generally appoint the directors of the corporation to serve until new directors are appointed or elected. These may be the same person or people who are also the shareholders and officers of the corporation.
  • Appoint Officers. The directors then normally appoint officers of the corporation. The typical offices are president, vice president, secretary, and treasurer. A CEO and chairman of the board of directors can also be appointed if desired.
  • Authorize Stock. At this meeting, it is also common to authorize the issuance of stock to the participants in the business according to their percentage of ownership.
  • Adopt Bylaws. The corporate bylaws also need to be prepared and adopted or approved. The bylaws contain the basic rules and procedures for operating the corporation. Most bylaws are fairly standard but they usually include requirements for holding meetings such as notices, number of directors and how they are selected, information about stock certificates, etc.
  • Set Up Corporate Bank Account. You should set up a new bank account for your corporation. It is considered a separate legal entity, apart from you as an individual. Banks differ on their requirements, but most want a copy of your Articles of Incorporation and your new Employer I.D. number to set up the account. You should avoid paying personal expenses from the corporate account. The proper way is to pay yourself a salary, draw, dividend, etc., and then deposit those funds in your personal account and then pay personal expenses from your personal account. Your accountant should be able to set this up. The corporate account should be reserved for paying business or corporate expenses. This helps maintain the separation of the corporation as a separate legal entity and may be an issue considered by a court if you are ever sued for personal liability.

Special Note. Instead of or in lieu of holding an actual meeting, the corporate law authorizes shareholders or directors to conduct corporate business without a meeting if all of the participants agree in writing to the action being taken. This procedure can be used in place of any corporate meeting including an organizational meeting or annual meeting.

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