Business

Starting a New Business

October 20, 2009 By Sherry Tingley

More and more individuals have been venturing into the world of business and marketing. This is because there have been many available opportunities and avenues to start a new business. But before diving in to the business world, there are quite a few things you should consider and learn. Starting a business will become as stress-free as possible once you know all the dos and don’ts.

First things first, you must be very clear on the type of business you are to set up. Success begins when you have clear goals and know how to take actions to achieve these. Before starting, you must write down your business idea clearly. This is to help you with strategic planning. Different types of business have different types of strategic approaches and marketing strategies in order to become successful. You should also set your goals based on your skills. Let’s be realistic here. Being successful in business also depends on your skills and attitude. If you think your expertise is not adequate, then you can ask for help and assistance from business professionals. Furthermore, to have a booming business, ask for sufficient finance. And one thing more, choose a good spot to start your business. Upon considering all of these, things will go on smoothly.

There are other things you need to get started legally and officially. You cannot just put up a shop and sell products without having some permits. Above all, you need a business permit/license to start. This is a universal truth, whatever state or country you live in, a business permit must be obtained. In the US, business licenses are issued by the state, so expect some differences in requirements and guidelines per state. You can get a business license online or go directly to the county clerk’s office. It is suggested you go directly to the clerk’s office and Occupational License Department to get answers to your questions right away. Sometimes, there are areas or zones where certain business establishments are not allowed.

Another thing you need to do is to register your business name with the Internal Revenue Service. You may also need an Employee Information Number or a Federal Tax Identification Number. This can be obtained online at www.irs.gov. Also, you to have an estimate gross receipt to determine the approximate taxes and other business fees to be paid. These things may appear tedious but after getting everything done legally, you won’t be facing any more problems regarding your business.

A resale certificate or a wholesale license is also needed. Any business establishment that sell products need a reseller’s permit. Having this permit allows you to collect sales taxes. For more information on how to get a reseller’s permit, you can go to http://www.businessnameusa.com. You may also want to visit http://www.business.gov for more details on starting a business.

Here are some useful links you might want to visit to help you with your business plan and strategic planning:

http://www.themanager.org/pdf/Businessplan.PDF

http://www.sos.mo.gov/business/corporations/startBusiness.asp

http://www.state.nj.us/njbusiness/starting/

http://www.sba.gov/smallbusinessplanner/

Create a Business Plan

October 12, 2009 By Sherry Tingley

A business plan is a formal statement written when a person or a team in an organization wants to reach a goal and it states what your ambitions are for the company in the future. It is possible to hire a professional to do the business plan or you can write it all yourself. Describe what your business is about right now and what you want it to become in the future. All business owners have visions and ideas about their businesses. Creating a business plan will make those dreams become more concrete.

Some things that are essential to be included in your business plan:

Your business – Your business name, the business address, phone number, email address, and website name with the URL. Don’t forget to write your name as the owner and list other owners if there are any.

Business description – State here how you came up with the idea of creating your business. Describe each section of your business. Write a summary about your business and make it interesting so as to get the attention of prospective investors. You can site reasons why you need the money for your business. Mention your competitors as well. You can list supplies you use for your business and what you do on a daily basis.

Products or services offered – Be specific in writing how your business operates. Explain how you market your products or services.

Personnel – Who are the people working for you and how many employees are there? What are their roles and responsibilities in the company. The same thing applies if you are the only person running your business. State your role and how you run your business.

Your plan – If you want the financial aid of a lender or are planning to apply for a loan from the Small Business Administration, keep in mind that a business plan is required to acquire the financing. Your business plan is crucial for the success of your business.

Financial Data – Write down how much money you want to borrow for your business and how are you going to spend the money. An explanation of the expected profit and loss should be included. Also document how much money you earn monthly and your personal financial statement. Include your expected revenue in your business. Attach some supporting documents that you think will be helpful to the success of your business plan. For the investors, this data is the most important part of the business plan.

A business plan is the map of your journey to success. Coming up with a good business plan is not easily done overnight. It is a task that needs effort and time on your part. Some business owners neglect preparing a business plan until the night before their meeting with the bank. You can guess the results of those actions.

Be creative but make a realistic business plan. If you haven’t written one yet, now is the time to start.

Ten Empowering Thoughts for Your Internet Business

October 26, 2008 By Sherry Tingley

Last week, I listened to Brian Campbell, a successful Internet marketer, give a webinar on social media marketing. During that talk he had people think about the belief system they had and whether or not their beliefs where empowering them or limiting them. He pointed out that every action we take begins with a thought.

The audience was asked to identify thoughts that were either empowering or limiting in nature. Here are ten empowering thoughts that were selected.

There is an abundance of money.
People deserve to be compensated generously for the value they produce.
I can spend money freely to enjoy life.
I can make money very easily with very little effort.
Money flows to me easily.
I would like to compensate people for their value because I appreciate them.
Money is to be enjoyed.
You are priceless.
The past is not my future.
I can get many people to act on something.

It seems to be human nature to dwell on some very limiting beliefs, which guide our course of action. How often have you told yourself that there is scarcity in your life? Or lately, the economy is so bad, no one is making any money. Recognizing and replacing our limiting beliefs is crucial to our success in any field of business or any area of our lives.

Would you picture yourself as someone who could influence others to take action? And don’t think of the times you’ve asked your children to clean up their rooms. Think of the times that you’ve recommended a great movie to your friends.

Could you become a person that could influence 100 people to take the action you want them to take? A 100,000 or 100,000,000? How would you do it? What would you say? What could you write?

Mark Zuckerberg influenced over 100 million people to use his website application at www.facebook.com. He is now enjoying the billionaire status as noted in Forbes magazine, The 400 Richest People in America, 2008 edition.

Create your website business plan to get as many people as you can to take the action you would like them to take. There are approximately 6,732,600,000 people in this world to influence! Keep empowering beliefs in the forefront of your mind as you create a successful website business plan that can move people to take action!