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5 Common Mistakes Small Business Owners Make On Start-up
Image by IRS EIN
irsein.org/blog/5-common-mistakes-small-business-owners-m…
Setting up a new business in whatever industry that you prefer is one opportunity most people go over. However, there may be challenges that lie ahead even before starting your business. One major challenge that you will encounter is having your business up and running and maintaining it in operation while dealing your trade accurately and reducing the problem. Getting the right strategy can be a useful way in order to directly hit your aim with just a single blow.
Below are simple tips you should consider to avoid common mistakes in having your setup smooth and solidified business:
1.Integrate first, and then do business
Make sure that your liabilities are insured before doing anything. It is much wiser to incorporate or have a LLC before your business comes into action. In this way, you are protecting your personal assets by setting up a line between your professional businesses from your personal affairs. This is making sure that when the worst case scenario is experience, you still have to keep your house, car, and other personal assets.
2.Ask and refer a tax professional
There will always be factors or areas in your business that will seem unclear to you. It is wise to consult with a CPA to address those issues. CPA’s can surely provide you with knowledge and clarifications about tax implications and how various structures can guide you in ensuring your assets as well as save you from unnecessary spending.
3.Be well knowledgeable with your market
It will always be wise to master your market. You should get to know and understand who will be opting for your business. Understand your customers and target them. One way of doing this is by following a company that you think is competitive in your area of industry. List down their unique characteristics and combine them with your own personal ideas. If your line of business is cars, reinvent the expertise of other entrepreneurs and business owners in the same files as what you are dealing.
4.Innovate your business
Whatever the industry you’re in, don’t stay immobile. Communicate with younger teens and be up to date with what’s new and coming. Move and invent your term of marketing and move to the next level. Try social networking. Innovate. Never stop even if you reached the top.
5.Be tight and wise in spending your resources
A lot of small business make the mistake of spending too fast with the resources that they have knowing that this can increase their sales and profit .It will either be spending what some people have spent in their business, or they apply everything that knocks on their doors. This can totally be helpful in the initial stages of growth but can become a tragedy for long term success. You have to make sure to invest your money more seriously in areas that can be a great opportunity to get a higher return.
Are you ready to get an EIN number for your business?
Don’t waste your money; before you consider paying for a third party service (most run over 0) and running the risk of releasing your personal information to some unknown website probably oversees. Let me show you a better way. And don’t waste your valuable time searching all over the internet by yourself to figure out the best way to apply for an EIN number. The homework and research has already been done for you. All you have to do is go to IrsEin.org and watch a free step by step video and learn how to get your own IRS number for your business within the next 15 minutes.
How To Launch a Citizen Journalism Website – The Ten Spot
Image by LevelTen_Colin
Licensed under a creative commons share-alike. Use freely but give attribution to LevelTen Interactive and link to www.leveltendesign.com
This week’s podcast is all about how to launch a citizen journalism website that actually gets read. Joining us this week are the creators of In This Economy, I Live in Dallas, and Five O’Clock Dallas. During the podcast, they all share their experiences, from the inspiration behind launching the sites, to the tools used for marketing and promotion, and even some unexpected results.
About In-This-Economy.com:
www.in-this-economy.com is a blog designed to take the ridiculousness of the economy and spin it into something that can entertain and even distract folks from their problems for a while. We cover everything from national news to free stuff to completely random Internet finds. We rant and rave about the economy, and when we’re not crying we’re laughing. ITE’s co-creators are art director Rondo Estrello (@rondostar) and copywriters Rachel Pinn (@rachcreative) and Derek Rundgren (@drocolate). Our other contributors include Stephanie Berlin (@sberlin), Logan Finklestein and Zack McLain (@SurlyZ). We’re also (clearly) passionate social media advocates. Follow ITE on Twitter at @inthiseconomy.
About FiveO’ClockDallas.com
Five O’Clock Dallas is a community website for Dallas bars and happy hour listings, that tries to take the work out of the after work drink. Five O’Clock Dallas goes beyond simple bar and happy hour listings by providing video reviews, news, events, and a new series called Happy Hour at Home. Five O’Clock Dallas focuses on showing people that it’s possible to have some classy fun in Dallas without breaking your budget. The website was founded at the end of 2008 when co-creators Colin Alsheimer (@levelten_colin and Alyssa Gardina (@agardina couldn’t find a good resource online for finding happy hours in Dallas. Five O’Clock Dallas can be found on Twitter (@dallashappyhour) and Facebook.
About ILiveInDallas.com
ILiveinDallas was launched in March 2008 to promote art and culture events in Dallas, Texas. Dallas is beginning to be recognized as a centerpiece in the US for hosting world-renowned artists, intellectuals, musicians and activists in the city. With many resources in the Dallas area for like events, ILiveinDallas stands out to be the go-to calendar for young thinking professionals interested in the ideas and culture of many. The goal is to get people out of their house and experience the world, without having to pay for the ticket around the world. The Creator of ILiveinDallas, Jennifer Conley, is an advocate for local arts and education. She believes the Arts promote creative and expansive growth in a community, and brings the thinker out in all of us.
@iliveindallas
@jenniferconley
Licensed under a creative commons share-alike. Use freely but give attribution to LevelTen Interactive and link to www.leveltendesign.com
