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Answer Upon - Are You Ready To Kick Self-Employment To The Curb Today?
Forming A Corporation In AlabamaIt is a better option to keep your business separate from your personal life, and the first step towards that is forming a business entity such as a corporation. Various states have various rules and Alabama is no exception regarding incorporation.How to Incorporate In Alabama:- Once you have decided on the kind of corporation you want to form, the next important step is to decide on a name for your corporation, which has to be unique and not a copy of any other registered business’s name or any name that has been reserved. Certain words and phrases are restricted, and it is better to choose a name in compliance with applicable state laws and it is mandatory for the name to have an ending such as “incorporated” or “Corporation.” tart working on her first system -- her company's business and marketing plans. Eventually, 4 others in her company created plans for their departments, and 9 months later Angela was working 1 day a month (yes, per month), and the income for her company was $14 million. So, just because you're making money doesn't mean you're running a well-oiled business machine! Those who "shift" to the business owner's frame of mind take steps to start doing what successful and practical business owners do:
- They create plans for business, marketing and finances. And they use them to monitor everything important about their business.
- They find alliances to bring in extra income.
- They network at least twice a
Payroll Management - Start Planning NowPayroll management is an issue that is never too early to start considering. Obviously, in the early stages of your business, your payroll management will consist of paying yourself. As your business grows you will have to concern yourself with compensation for you and your employees.Payroll management in a business that has employees requires planning for salaries and hourly wages. There will also be payments to subcontractors for technical and sales related services to consider. You will eventually become too busy to do it all yourself and you will need help.Before you get to the stage where you need to hire additional help, it is a wise strategic move to think about your payroll management needs and plan accordingly.Payro Here's the thing. If you started your company to have a little extra money and work a "little" weekly, this article isn't for you. If you started your company or became an independent agent to work 70-hour weeks and make just enough money to live by, this article isn't for you. However, if you're in either situation and Uncle Sam is letting you deduct business expenses from your taxes, then you're self-employed, not a business owner.Let me explain. The self-employed have done one thing for themselves -- created a job with a paycheck, a job with the burden of a lot of extra jobs and taxes. On the plus side, they've created a system that includes tax deductions -- Whoopy! But what they've done is go from working for a company to creating a job for themselves AND added the stress of being the boss! Face it -- the self-employed are slaves to their businesses, because no one is working for or with them. Many go from one client to another, or they have only one big client and a few little ones. As they work, they keep reinventing the wheel because they don't have long-term plans or systems in place. They can't take days off, let alone take a vacation! The words they use -- often, and to anyone who will listen -- are "overwhelmed," "tired" and "have no time for that." (For more on the self-employed versus the business owner, read the book my clients all read -- "Rich Dad, Poor Dad" by Robert T. Kiyosaki and Sharon L. Lechter.) Go All the Way -- to Business Owner! Business owners, on the other hand, give themselves the gifts of time and self-value, while they give others one of the most important gifts they can give -- paychecks for doing what they love! And when the business is situated like they have dreamed of, they're then able to give the gift of philanthropy. Business owners learn the importance of strategic, tactical and operational planning. They monitor their marketing activities. They know exactly what is unique about their business and what they bring to it that adds to its uniqueness, and they know who their ideal client is. They run their business like the "big corporate boys," but without all the hassle -- or lawsuits! If you've been in business a while, you might think you're no longer self-employed or running a hobby. Beware. Over the years, only 2 out of more than 100 of my clients were really "running" a business. The rest had businesses stuck in "infancy." And the amount of money you make doesn't determine whether it's a business. I remember Angela (not her real name), owner of a company, with 19 employees, and making $8 million. After an hour's consultation, she asked me what I thought was keeping her company from making as much money as she knew it could. My answer: She was running a hobby. That didn't go over well, and I asked her to read "The E-Myth Revisited" (another must-read business book). Two weeks later, Angela called to start working on her first system -- her company's business and marketing plans. Eventually, 4 others in her company created plans for their departments, and 9 months later Angela was working 1 day a month (yes, per month), and the income for her company was $14 million. So, just because you're making money doesn't mean you're running a well-oiled business machine! Those who "shift" to the business owner's frame of mind take steps to start doing what successful and practical business owners do:
- They create plans for business, marketing and finances. And they use them to monitor everything important about their business.
- They find alliances to bring in extra income.
- They network at least twice a
Brand Extension; Going from Consumer to CommercialAs more and more home pressure washers are sold at leading retailers such as Wal-Mart, Sears, Home Depot, Cosco, etc. We are seeing companies offer products in brand line extension to service this niche. Armor All is the newest company to offer it's brand name customer loyalty to sell these products. They of course have been heavy into the Car Wash Industry with National Networks of Distributors in Canada and The US and Europe for tire cleaners and protectants, now they are offering a concrete cleaner for home pressure washer do-it-yourselfers.http://armorallhomecare.com/products/concretecleanerpw.htmlMany homeowners are finding this works very well for small clean-up jobs around the home. Armor All Homecare also has a new deck wash a company to creating a job for themselves AND added the stress of being the boss!Face it -- the self-employed are slaves to their businesses, because no one is working for or with them. Many go from one client to another, or they have only one big client and a few little ones. As they work, they keep reinventing the wheel because they don't have long-term plans or systems in place. They can't take days off, let alone take a vacation! The words they use -- often, and to anyone who will listen -- are "overwhelmed," "tired" and "have no time for that." (For more on the self-employed versus the business owner, read the book my clients all read -- "Rich Dad, Poor Dad" by Robert T. Kiyosaki and Sharon L. Lechter.) Go All the Way -- to Business Owner! Business owners, on the other hand, give themselves the gifts of time and self-value, while they give others one of the most important gifts they can give -- paychecks for doing what they love! And when the business is situated like they have dreamed of, they're then able to give the gift of philanthropy. Business owners learn the importance of strategic, tactical and operational planning. They monitor their marketing activities. They know exactly what is unique about their business and what they bring to it that adds to its uniqueness, and they know who their ideal client is. They run their business like the "big corporate boys," but without all the hassle -- or lawsuits! If you've been in business a while, you might think you're no longer self-employed or running a hobby. Beware. Over the years, only 2 out of more than 100 of my clients were really "running" a business. The rest had businesses stuck in "infancy." And the amount of money you make doesn't determine whether it's a business. I remember Angela (not her real name), owner of a company, with 19 employees, and making $8 million. After an hour's consultation, she asked me what I thought was keeping her company from making as much money as she knew it could. My answer: She was running a hobby. That didn't go over well, and I asked her to read "The E-Myth Revisited" (another must-read business book). Two weeks later, Angela called to start working on her first system -- her company's business and marketing plans. Eventually, 4 others in her company created plans for their departments, and 9 months later Angela was working 1 day a month (yes, per month), and the income for her company was $14 million. So, just because you're making money doesn't mean you're running a well-oiled business machine! Those who "shift" to the business owner's frame of mind take steps to start doing what successful and practical business owners do:
- They create plans for business, marketing and finances. And they use them to monitor everything important about their business.
- They find alliances to bring in extra income.
- They network at least twice a
Building Business - The Old Fashion WayIn today’s global economy everyone is searching for a niche to make more money. We have become so specific about how we do business that we have forgotten how to make money the old fashion way.As a speaker and business coach I found myself stuck doing the same types of workshops and keynotes all the time. I had real estate one on one bleeding out of my veins. Everyone wanted to know how to buy property with no money down. This seemed great at first but it did not allow me display my other areas of expertise.I began to feel like I was stuck in a box. That is when I remembered what had gotten me in this position in the first place. I used good old fashion hard work to build my reputation as a real estate guru oppose to a successful busin g>Go All the Way -- to Business Owner!Business owners, on the other hand, give themselves the gifts of time and self-value, while they give others one of the most important gifts they can give -- paychecks for doing what they love! And when the business is situated like they have dreamed of, they're then able to give the gift of philanthropy. Business owners learn the importance of strategic, tactical and operational planning. They monitor their marketing activities. They know exactly what is unique about their business and what they bring to it that adds to its uniqueness, and they know who their ideal client is. They run their business like the "big corporate boys," but without all the hassle -- or lawsuits! If you've been in business a while, you might think you're no longer self-employed or running a hobby. Beware. Over the years, only 2 out of more than 100 of my clients were really "running" a business. The rest had businesses stuck in "infancy." And the amount of money you make doesn't determine whether it's a business. I remember Angela (not her real name), owner of a company, with 19 employees, and making $8 million. After an hour's consultation, she asked me what I thought was keeping her company from making as much money as she knew it could. My answer: She was running a hobby. That didn't go over well, and I asked her to read "The E-Myth Revisited" (another must-read business book). Two weeks later, Angela called to start working on her first system -- her company's business and marketing plans. Eventually, 4 others in her company created plans for their departments, and 9 months later Angela was working 1 day a month (yes, per month), and the income for her company was $14 million. So, just because you're making money doesn't mean you're running a well-oiled business machine! Those who "shift" to the business owner's frame of mind take steps to start doing what successful and practical business owners do:
- They create plans for business, marketing and finances. And they use them to monitor everything important about their business.
- They find alliances to bring in extra income.
- They network at least twice a
Is the Customer Really King?We often hear ‘the customer is king’. I don’t believe it.First, many customers do not behave like kings. Some act more like ruffians than royalty. You might want to disregard this kind of customer altogether. But it’s tough to disregard a king.Second, in certain cultures, the king was revered but also feared. Hardly the best metaphor to bring closeness between your customers and your staff.Third, the idea of a king implies that everyone else is not. I don’t see the benefit of putting your customers on a throne if it means you and your team must live below them.Perhaps it makes more sense to say ‘the service provider is king’. I mean this in the most responsible way.A benevolent king once traveled his realm in the d >If you've been in business a while, you might think you're no longer self-employed or running a hobby. Beware. Over the years, only 2 out of more than 100 of my clients were really "running" a business. The rest had businesses stuck in "infancy." And the amount of money you make doesn't determine whether it's a business. I remember Angela (not her real name), owner of a company, with 19 employees, and making $8 million. After an hour's consultation, she asked me what I thought was keeping her company from making as much money as she knew it could. My answer: She was running a hobby. That didn't go over well, and I asked her to read "The E-Myth Revisited" (another must-read business book). Two weeks later, Angela called to start working on her first system -- her company's business and marketing plans. Eventually, 4 others in her company created plans for their departments, and 9 months later Angela was working 1 day a month (yes, per month), and the income for her company was $14 million. So, just because you're making money doesn't mean you're running a well-oiled business machine! Those who "shift" to the business owner's frame of mind take steps to start doing what successful and practical business owners do:
- They create plans for business, marketing and finances. And they use them to monitor everything important about their business.
- They find alliances to bring in extra income.
- They network at least twice a
Utilizing Technical Resources in Candidate RecruitingLet’s face it: we all remember our first home computer--it wasn’t that long ago. My dad brought home one of his old computers from work; the screen was approximately 8 x 8 inches, and it was certainly not the flat screens we see today. Behind the screen, I’m certain there were mice running in wheels—there was definitely enough space for them and the speed of that computer was slower than it takes to make Thanksgiving dinner. We used it initially as a word processor and could never imagine that our computer would change so much in the next 15 years.Now think back to your first cell phone. Mine was shaped like (and probably weighed as much as) a brick. It did not fold, the antenna had to be extended to even dream about hearing the other p tart working on her first system -- her company's business and marketing plans. Eventually, 4 others in her company created plans for their departments, and 9 months later Angela was working 1 day a month (yes, per month), and the income for her company was $14 million. So, just because you're making money doesn't mean you're running a well-oiled business machine!Those who "shift" to the business owner's frame of mind take steps to start doing what successful and practical business owners do:
- They create plans for business, marketing and finances. And they use them to monitor everything important about their business.
- They find alliances to bring in extra income.
- They network at least twice a week.
- They create their ideal client profile and market only to their ideal clients.
- They package their knowledge -- turning it into classes, articles, CDs, etc., that bring extra income and recognition.
- They know their "rack rate" and stop giving away time and business.
AND they hire employees, contractors or consultants to do what they don't enjoy doing, eventually handing over even the tasks they do enjoy. Why? Because they want the time to pursue other goals. So, if necessary, they barter to get the process started.. Why do they hire help? Take a really good look at the list on page 4. You will see that there is NO WAY you can do everything yourself. Who in their right minds (or left ones, for that matter) could do ALL these jobs correctly and accurately -- day in and day out? But most people who call themselves business owners sure do try! Which of these are you doing that you need to find someone else to do?
- President/CEO
- Salesperson
- Purchasing Manager
- Office Manager
- Technology Specialist
- Internet Guru
- Human Services Manager
- Marketing Director
- Accounting/Finance Manager
- Compliance/Legal Manager
- Desktop Publisher/Designer
- Customer Service Rep
- Inventory Person
- Quality Control Manager
- Insurance Manager
- R & D Team
- Unbiased Business Advisor
- Organizer
- Trainer
- Writer
- Janitor
- CEO Assistant
- At a minimum, assistants to all the managers and specialists above
If you think that you can't yet afford to hire consultants or employees to help you, consider this. What is your usual hourly rate? Let's say it's $100. What tasks are you currently doing where you can hire someone at less than $50 per hour. Book keeping? Filing? House cleaning? Database management? What else? Well those are the tasks that you could be outsourcing. Still think you're unable to hire help? Chances are that you're unfocused. Look at the critical initiatives that will help your business grow. Seriously consider creating your one-year business and marketing plan now so you'll be able to hire some much needed help soon.
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