Archive for October, 2010

Transitioning from employee to entrepreneur

Wednesday, October 20th, 2010

Leaving a job at a large corporation to start an LLC can be a scary decision. But many have found greater happiness by running their own businesses. Pamela Slim, author of Escape From Cubicle Nation: From Corporate Prisoner to Thriving Entrepreneur, offers advice on how to make the transition. In an interview with Entrepreneur magazine, [...]

Maximizing a consultant’s expertise

Wednesday, October 20th, 2010

When forming a business, there are going to be times when entrepreneurs need help. Consultants can offer invaluable expertise, and it is important to know how to make the most of their assistance. Consultants can provide startups with support in a number of ways. An entrepreneur can seek assistance early and hire an advisor who [...]

How to convince venture capitalists to invest

Tuesday, October 19th, 2010

When preparing to file an LLC, entrepreneurs are also looking for funding, often from venture capitalists. Here is some insight into what investors are looking for in a business. Mark Sutter of Entrepreneur magazine finds that management, market, money and momentum are key. Sutter notes that almost all investors will only contribute funds to a [...]

Resources for woman-run businesses

Tuesday, October 19th, 2010

The Wall Street Journal reports that although more women than men are starting businesses, woman-run businesses tend to be smaller. Here are some resources to help conquer the challenge of forming a company that are geared toward women business owners, but also helpful for all entrepreneurs. Martha Pineda, a priority banking manager for Union Bank, [...]

Owning a franchise a great option for retirees

Monday, October 18th, 2010

Retirees who are interested in forming an LLC, but who don't want to go through the process on their own, should consider running a franchise. Michelle Rafter of Entrepreneur magazine recommends five industries that would make a great post-retirement business investment: senior care, business training and coaching, staffing or recruiting, tutoring and business services. Senior [...]

Deter copycats by filing a patent

Friday, October 15th, 2010

When forming an LLC, it is important for entrepreneurs to protect their ideas from copycats. From well-known startups such as the Snuggie and the Slanket, which feature similar designs, to competition between large corporations and small businesses, ideas often overlap or are deliberately copied. Experts agree that after developing a new product, the first step [...]

Mistakes that could be detrimental to a startup

Thursday, October 14th, 2010

As entrepreneurs prepare to form an LLC startup, it is important to avoid mistakes that could jeopardize the longevity of the company. In Forbes magazine, Shaun Rein, founder of the China Market Research Group, offers advice that helped keep his company going strong past the critical five year mark. While product development is important for [...]

Entrepreneurs should hire professionals in the areas they lack expertise

Wednesday, October 13th, 2010

Jackie Davies, the founder and owner of Eat Out In, recently sat down with Women Entrepreneur to talk about how she began her business and to give advice for entrepreneurs interested in forming a company. Davies pioneered the restaurant delivery services industry by pursuing an idea that came to her more than 25 years ago. [...]

Self-employed receive healthcare tax breaks this year

Wednesday, October 13th, 2010

Entrepreneurs who have a single-member LLC, sole proprietorship or sole-owner S-corporation can deduct their health insurance under a one-year provision in the Small Business Jobs and Credit Act that President Barack Obama recently signed into law. Previously, the self-employed had to pay the employer and employee portions of the payroll tax for a total of [...]

Using sustainability to give a growing LLC longevity

Tuesday, October 12th, 2010

Building a sustainable business is key to business strategy for those seeking to form an LLC during these economically challenging times. Aron Cramer and Zachary Karabell recently offered a summary of their book Sustainable Excellence: The Future of Business in a Fast-Changing World to the Huffington Post in order to help entrepreneurs learn how to [...]

How to prepare for the possible end of Bush-era tax cuts

Monday, October 11th, 2010

Entrepreneurs who decided to start a corporation underneath the Bush administration's tax cuts were subject to no more than a 15 percent income tax on dividends earned from company stock. After this year, the maximum federal tax rate could increase greatly. Bill Bischoff of Entrepreneur magazine offers advice on how stockholders in successful C-corporations can [...]

Important leadership skills for business owners

Friday, October 8th, 2010

For entrepreneurs who form an LLC, it can be difficult to step away from the work they are attached to and review their leadership methods. Toddi Gutner addresses five common leadership mistakes and how they can be fixed in an article for Entrepreneur magazine. In order to have time to create a strategic business plan, [...]

Breaks from work can increase productivity

Friday, October 8th, 2010

After filing an LLC and doing the legwork to get a new company on its feet, a business owner might need a break to get refreshed and re-energized. Beth Goldstein, president of the Marketing Edge Consulting Group, advises that vacations can help business leaders maintain high productivity. Goldstein acknowledges that there is work to be [...]

The importance of brand protection

Friday, October 8th, 2010

Those who want to start an LLC should also take time to build and protect their brands. When building a brand, it is important to construct it in a way that also contributes to building intellectual property assets. Anne H. Chasser and Jennifer C. Wolfe discuss brand protection in their book Brand Rewired, and sat [...]

Established LLCs should stay on top of records to maintain protection

Thursday, October 7th, 2010

After starting an LLC, business owners must ensure that they maintain liability protection. Nina Kaufman offers a strategy to help owners secure their corporations in her small business legal series on Startup Nation. Kaufman advises that entrepreneurs must treat their corporations as independent entities in order to protect their personal liability. A corporation also needs [...]