Archive for November, 2010

Unreasonable Institute offers entrepreneurs exposure to seasoned executives

Wednesday, November 24th, 2010

As it enters its second year, the Unreasonable Institute remains committed to supporting entrepreneurs who are determined to do the "unreasonable" – taking on the task of changing the world. The Unreasonable Institute was started by Daniel Epstein, Teju Ravilochan, Tyler Hartung and Vladimir Dubovsky, all in their twenties, who found inspiration in the George [...]

How to set up a internship program

Tuesday, November 23rd, 2010

Internship programs are a great way to get additional employee support and groom future workers. Richard Bottner, founder of Intern Bridge, and Mark Babbit, founder of YouTern, shared tips for startups who want to hire interns in a talk entitled, "Building Successful Internship Programs for Startups." Audrey Waters of Read Write Start summarized some of [...]

Finding a way into the media spotlight

Tuesday, November 23rd, 2010

Startups can utilize the media to gain free publicity. The trick is knowing how to market the company as a newsworthy topic. Many small businesses manage to tap into a trending topic and end up on the couches of major national daytime shows such as Oprah or Good Morning America, notes Charlotte Jensen of Entrepreneur [...]

Netflix founder Reed Hastings tops Fortune’s Businessperson of the Year list

Tuesday, November 23rd, 2010

Reed Hastings, founder of Netflix, was not expected to build his once fledgling company into a multi-million dollar enterprise. But in an exciting new development, Hastings has been chosen as the No. 1 Businessperson of the Year by Fortune magazine. Streaming movies and television online has transformed the film industry's approach to business. CNN reports [...]

Mastering the art of communication

Tuesday, November 23rd, 2010

Business owners can boost employee morale by making an effort to communicate their requests politely and maintaining a positive attitude. When delivering bad news, such as layoffs or pay cuts, address the issue plainly instead of talking around the issues, advises Karen Friedman, the author of "Shut Up and Say Something: Business Communication Strategies to [...]

Rural outsourcing positions itself as a financially viable option for small businesses

Monday, November 22nd, 2010

Small businesses looking to find outside talent at an affordable price may no longer have to look abroad. The growing phenomenon of "rural outsourcing" may in fact offer more benefits than outsourcing overseas. Over the past few years, many businesses have outsourced areas such as IT to companies overseas. BusinessWeek reports that outsourcing to rural [...]

Richard Branson lauds value of mentors for entrepreneurs

Monday, November 22nd, 2010

Many companies offer mentoring programs to help younger employees develop their skills. Entrepreneurs can benefit from the same guidance, Richard Branson recently emphasized in a column. Entrepreneur magazine ran a column written by Richard Branson in which tears down the image of entrepeneurs as one person who can succeed without help. "People tend to think [...]

Reaching new customers with a branded application

Monday, November 22nd, 2010

Small businesses interested in expanding their interactions with customers should consider developing an application for their business, according to many industry experts. Mobile and internet users have increasingly integrated applications into their daily routine, offering businesses a new platform to reach their target customers. Small businesses interested in creating an application can do it on [...]

Entrepreneurs forming a company in Maryland may not have to face combined reporting

Monday, November 22nd, 2010

The Maryland Business Tax Reform Commission recently voted against a proposed method of taxing corporate profits. Combined reporting, a system that aims to stop businesses from filtering Maryland revenue to corporations in states with lower tax rates, has been highlighted by some as a way to increase state revenue. But, the Tax Reform Commission voted [...]

Entrepreneurs filing an LLC in Arizona could benefit from corporate tax cuts

Monday, November 22nd, 2010

Entrepreneurs who are interested in starting a corporation might be able to benefit from the lower business taxes that Republican legislative leaders are lobbying for in Arizona. The Arizona Tax Research Association recently held a forum for business leaders and lobbyists where state Senate majority whip Steve Pierce called for a decrease in business property [...]

Annual reports required for LLCs in Mississippi in 2011

Friday, November 19th, 2010

Entrepreneurs interested in filing an LLC in Mississippi will be required to file an annual report with the secretary of state starting in 2011. The Mississippi state legislature passed a bill earlier this year that created a new section 79-29-215 to the Mississippi Code of 1972. The new LLC annual forms will be available online [...]

Benefits of filing incorporation forms early

Thursday, November 18th, 2010

The benefits of starting a corporation are many, including copyright protection, which can save thousands of dollars in legal fees that trademark lawsuits can incur. One entrepreneur, Kori Stanton, who began an online cookie business, recently discovered the importance of filing incorporation papers when she faced the possibility of an unexpected lawsuit, the Wall Street [...]

Following corporation rules and regulations

Wednesday, November 17th, 2010

Entrepreneurs who decide to start a corporation as opposed to a looser structure such as a sole proprietorship, need to carefully follow all of the practices and mandates that come along with it in order to avoid trouble with the IRS. In Entrepreneur magazine, Bonnie Lee notes that corporations come with the responsibility to hold [...]

Shareholder litigation should be held in state of incorporation, law professor advises

Tuesday, November 16th, 2010

William A. Franke, a Stanford law professor, recently gave the annual Widener University School of Law Pileggi lecture in which he advised public corporations to institute provisions that require the advanced selection of shareholder litigation forums. Entrepreneurs who start a corporation that eventually goes public could eventually have two options at their disposal. They can [...]

Financing a C-corporation with a 401(k)

Tuesday, November 16th, 2010

Entrepreneurs who are interested in using their 401(k) to finance their startup must file a C-corporation in order to leverage their retirement funds. Business owners must start a corporation in order to set up a retirement plan, notes Matt Quinn of Inc. magazine. "The first action is to establish a C-corporation that has created but [...]

The benefits of filing a C-corporation

Monday, November 15th, 2010

When deciding whether or not to convert a company to a C-corporation, entrepreneurs should consider whether the level of paperwork and taxation structure is the right fit for the business. Incorporation adds legal protections that can help keep personal assets secure and possibly reduce taxes. There are several options, including C-corporations. "Among the different types [...]

Protecting personal finances with an LLC or S-Corp

Friday, November 12th, 2010

In order to protect their personal finances after forming a company, entrepreneurs should consider filing an LLC or an S-Corporation and keep business and personal money separate. In an article for Entrepreneur magazine, Karin Price Mueller, a personal finance expert, offered some suggestions for small business owners. In order to protect personal finances from business [...]

Avoiding backlogs when filing an LLC

Thursday, November 11th, 2010

Entrepreneurs interested in filing an LLC, should consider when would be the best time to do so. The rewards of incorporation can only be received after the forms have been filed, but as 2010 comes to a close, there may be some benefits to waiting a few months to file. When considering tax reporting, January [...]

Constructing a powerful brand

Wednesday, November 10th, 2010

Good branding is always important, and especially for entrepreneurs who have recently started a corporation. A brand message that is poignantly conveyed is an important way to attract new customers. In an article for StartUpNation, marketing expert Stacy Karacostas, offers entrepreneurs website design advice. Karacostas emphasizes that a logo and website are not the epitome [...]

Factors that deter investors

Wednesday, November 10th, 2010

After finishing the process of filing an LLC, entrepreneurs need to line up funding for their new venture. Entrepreneurs should be aware of the red flags, which will discourage investors from supporting a company. Martin Zwilling, the CEO and founder of Startup Professionals, offers seven factors that investors consider high risk. First, is an inexperienced [...]