Online Incorporation MaxBlog

Trying to figure out what to do for insurance with your newly formed corporation or LLC? MaxFilings has just published an overview of the three main types of insurance that small business owners need to be aware of here.

Even if you haven’t incorporated yet, be sure that your buisness has adequate insurance by consulting with a qualified buisness insurance professional. And be sure to keep in mind the added protection of limited liability provided by forming a corporation or LLC. You can learn more here: Should I Incorporate My Business?

If you’re ready to take this step, you can see costs to incorporate and then form your business easily at MaxFilings.com online incorporation service

MaxFilings now has available the Business Forms CD, which contains over 50 customizable forms that virtually every business needs. Now, whether you are starting a new business or trying to instill more administrative order in your current one, having easy access to a wide variety of business forms will be a tremendous convenience.

The CD includes 26 common business forms that provide an outline for hiring employess, collecting payments, and other common legal documents used in business such as a contractor agreement and power of attorney.

All forms are formatted in Microsoft Word and can easily be manipulated specifically for your business.

The Business Forms CD also includes 24 additional forms specific to corporations such as a proxy, stock purchase agreement, and certificate of corporate vote to name a few.

Along with online incorporation and business services, the Business Forms CD available now at MaxFilings is an additional tool in helping you effectively manage your company.

Incorporating your business may offer benefits over a sole proprietorship or partnership structure, especially since establishing a corporation or limited liability company provides protection of the personal assets of officers, directors, and shareholders.

However, its important to understand that there are limitations to this protection. A few actions that are not subject to the limited liability of corporate or LLC status include but are not limited to:

• Personal guarantee of loans
• Tax evasion
• Criminal activity

To find out more, check out Exceptions to the Limited Liability Protection of a Corporation, which discusses several situations when your status as a corporation may not give you limited liability. And while youre there, take a look at the MaxFilings Knowledge Center to get more important questions answered.

by Dave Lavinsky
Growthink

Angel investors are individuals who invest in emerging business ventures.  Angels typically provide both capital and know-how to companies who are in either their start-up or expansion phases, whether corporations, LLCs, or still a sole proprietorship. To reflect the increased risk of investing in such firms, angels seek a higher rate of return versus traditional public stock investments.

Angel investors fulfill the financing need that exists between capital provided by friends and family and capital provided by venture capitalists. Individual angel investors often write checks from $25,000 to $100,000. Recently, angel investing has become more organized, and angel groups often invest from $250,000 to $500,000 at a time to deserving ventures.

Angel investors often have similar financing criteria as venture capitalists. They want to see proprietary intellectual property, a large market size, management team members with expertise and experience and a current valuation that allows for a good return on investment.

In identifying and attracting an angel investor, companies should seek angel groups that are located in their region. For instance, the Tech Coast Angels have funded over 85 Southern California-based companies since 1997. When seeking individual angel investors, it is critical to network in order to create a personal connection between yourself and the angel. Also, ideally the individual has experience within your specific field so he/she can provide industry contacts and operational expertise in addition to capital.

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Growthink Business Plans has developed over 200 business plans for clients have collectively raised over $750 million in financing, launched numerous new product and service lines and gained competitive advantage and market share. For more information go to http://www.growthink.com

by Albert Streab

All business continuity analysis should be risk based, and risk prioritized to deal with the important business incorporation risks first. This means that any risks to your business need to be identified, examined and dealt with.

There are 4 options for dealing with each risk:

1. Reduce the risk. Reducing the risk falls into 2 categories - reducing the likelihood of the problem occurring and reducing the impact of the problem if it does happen. A simple example is that by having a fire alarm you are reducing the likelihood of a fire spreading unseen and by installing a sprinkler system you are reducing the impact of fire.

Reducing the risk is often referred to as mitigation. For example, data backups are a form of mitigation. They reduce the impact if a problem occurs which affects the primary data source. Any mitigating actions require testing to provide assurance they work when required.

2. Transfer the risk. This is an interesting option which may be seen as a get-out, but which is a perfectly valid thing to do. By transferring a risk it becomes someone else’s problem and you therefore have the risk covered. We are not talking about blaming someone else, or even transferring the risk to someone else in the company.

For example, there could be a risk that office space will not be available in the case of a disaster in the main location. Therefore the risk can be transferred to a third party company which organizes office space for disaster recovery and keeps offices available for companies who need such a recovery service.

3. Accept the risk. By accepting the risk of a potential problem you are at least aware of its existence and can plan for it happening. If it is a risk that would have no impact for an acceptable period of time it should still be noted but you may decide to take no action until it occurs.

Almost by definition, accepting a risk is also reducing the impact of the risk as you are aware of the potential problem and can write it into your business continuity plan.

4. Ignore the risk. This option should never be selected. There is never a reason for ignoring a risk once it has been identified. A risk can be accepted (acknowledged) but must never be ignored.

Once the actions for each risk have been identified, then anything put in place to help cope with a risk needs testing. However, many companies either test nothing at all or try testing every facet of a business continuity plan. Both methods are doomed to failure. The answer is to adopt a risk based testing approach from two perspectives: the business continuity plan is fit for purpose and it will work when invoked.

A health check (testing the plan is fit for purpose) needs to be performed by someone other than the authors of the business continuity plan. Ideally it’s performed by an independent third party that specializes in testing business continuity plans, but it could be a disinterested party from another part of the company. Independence is essential here for an objective assessment.

Testing the plan will work when invoked, must be viewed in a business context and the elements of the plan prioritized so that the risks with the most business impact and likelihood are tested first. This approach and the techniques to perform business continuity testing in a cost effective manner are the subject of other articles.

Copyright Acutest UK 2005

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A Streab is an experienced practitioner of business continuity testing at Acutest, an independent consultancy specializing in business continuity assurance and software testing services. For more information on this topic visit http://www.acutest.co.uk or send an email to enquires@acutest.co.uk

Deciding to incorporate was one of the most important business decisions youve had to make. You most likely chose the incorporation type that offered you the greatest limited liability protection and other advantages. But, did you know that courts can take away limited liability protection if it is determined you have not been operating your corporation properly? This is called piercing the corporate veil.

How strong is the veil of protection around your business? Not sure? Its not too late to protect your business. Here are some things you can do to get your corporate affairs in order.

1. Follow the rules and regulations closely. Adhere to state requirement regarding the organization and operating a corporation.

2. Hold regular corporate meetings with shareholders. Be sure to keep records of meeting activities, minutes and decisions made.

3. Keep good records in a corporate book. Use this book to keep incorporation records, maintain meeting minutes and shareholder information.

Protect the business advantages garnered through incorporation. Need a little help? Learn more about the corporate veil and protecting your corporate structure in the MaxFilings Incorporation Knowledge Center. Also, find out how MaxFilings Corporate Kits can help you secure your corporate status.

by Habiba Abubakar
Profit Diva

So how do you go about finding joint venture partners? The first question you should ask yourself is this: “Who already has influence and credibility with my target market?”

In answering this question, the best place to start is with “warm” contacts. Warm contacts are your existing network of friends, mentors, business associates and suppliers. It’s the best place to start because it’s easier to persuade someone you already have a relationship with to participate in a joint venture with you.

But what do you do if no one in your network is suitable? Then, you’ll have to work with “cold” contacts. In other words, you’ll have to go out and find partners.

Whether you’re partnering with warm contacts or cold contacts, there are common places and instances where you can network and build relationships that can lead to profitable joint ventures.

Here are some of those places and instances where you’ll find potential partners who have influence and credibility with your target market:

1. Seminars and Workshops

Seminars and workshops are the number 1 place for finding potential joint venture partners. This is because of the feast of networking opportunities provided by such events. Often, these type of events last for up to three days. This gives you a chance to make strong connections with the other delegates. You’ll also find that people who pay good money to attend seminars are often those who are serious about growing their business.

2. Trade Shows and Exhibitions

Sometimes, it can be more worthwhile to work the floor at trade shows and exhibitions, rather than having a booth. Why? Because you get to meet potential joint venture partners that may not necessarily visit your booth.

3. Membership Associations

Most membership associations provide a directory which lists all the members of that association. The directory usually provides the business name, web site and contact details of members. Some membership associations also host monthly or quarterly events which make a great platform for networking.

4. Through your business associates and suppliers

Introductions from people in your network is a very effective way of meeting potential joint venture partners. You’re likely to instantly trust a person you’ve just been introduced to, if the introduction is made by someone you respect and trust i.e. your business associate. This method of finding potential joint venture partners is a sort of third party endorsement that turns a “cold” contact into a “lukewarm” contact.

5. Participate in online discussion groups and forums within your industry

Here, you’ll find experts who are respected by your target market (and are therefore potential joint venture partners), giving advice by answering questions asked by forum members. Online discussion groups and forums are also good places to find out what your target market’s opinion or impression is, about potential joint venture partners. This will help you decide whether you want to be associated with the potential partner in question.

6. Subscribe to online and offline publications that serve your target market

Magazines, newsletters and newspapers often publish articles written by industry experts who target the same market as you. Sometimes, these publications also publish “success profile” type of stories about certain industry experts. Those industry experts could be your next joint venture partners.

Once you’ve made a list of potential joint venture partners, you need to examine their character, business ethics, and customer service standards. You must also review their products and services. These factors will help you determine whether they are really a good match for your business, and whether you’d like to be associated with them. If so, then go ahead and get the ball rolling.

Copyright © 2005 by Habiba Abubakar and Emprez. All rights reserved.

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Habiba Abubakar, a.k.a. The Profit Diva, specializes in helping small business owners who are struggling to increase their client base, and are tired of earning mediocre profits. Get your copy of her FREE 7-part mini eCourse, “The Easiest Way To Skyrocket Your Profits In 90 Days Or Less,” when you subscribe to her FREE business-building newsletter at http://www.profitdiva.com

by Anne Ahira
The Best Affiliate

When two or more people agree to form a partnership which will mutually benefit each of them they are entering into a Joint Venture (JV for short). Many online entrepreneurs are recognizing the value of combining forces with others online to create a stronger marketing force.

Following are just a few of the benefits to be found by forming Joint Ventures:

The more exposure you have online the more products and services you will sell. When you and your JV partners share each other’s built in audiences and email lists, you instantly acquire the opportunity to greatly broaden your potential buyer base which translates into greater sales.

Your new partners may possess knowledge and skills which you currently lack. By forming this type of relationship you allow for the opportunity to learn much from each other. By all means take advantage of that. The more you know, the greater your chance for success.

TIPS FOR BUILDING A SUCCESSFUL RELATIONSHIP

Joint Ventures are ’serious’ relationships! Don’t enter into them casually. You need to put out an honest effort to create a good, solid foundation built on trust and friendship. This will hopefully be a relationship that will last for many years and grow stronger with the passage of time. Like any stable relationship between people you need to cultivate an atmosphere of loyalty and faithfulness.

When you have found several potential JV partners and before you contact them, take the time to become familiar with their business, web site and ezine. If you can discuss their business with them they will appreciate that you are making an honest, sincere attempt to develop a partnership which will benefit the both of you. Not just you!

Your first approach to each prospect will decide the fate of your JV. You must write a strong, personalized proposal stating clearly what you feel you both could bring to a partnership and what you both could expect to achieve by joining forces. If you send an impersonal, hard sell letter you will turn your prospect off and the new JV will be “clicked” out of existence before it has the chance to get off the ground! So come from your heart when you approach a potential partner. Perhaps you would prefer to make your first contact by phone just to say hello and “meet” each other. That’s perfectly fine.

When you do make contact be certain to explain right away, how working together would be beneficial to both of you. If it is all about selfish you, no one in their right mind would consider becoming your partner! Know first how YOU could help your potential partner. Then be certain to clearly explain what those benefits are. Do you have a large subscriber list that they will gain instant access to? Will you endorse your partner’s products? How can you help grow your partner’s business?

I’m sure that you conduct your own business with integrity and professionalism; that you treat your customers with respect and offer outstanding customer service. Be sure to treat the customers of your new JV partner in exactly the same fashion! Act responsibly. Now it is not just your own reputation which is at stake but also that of your new JV partners as well.

WAYS TO WORK TOGETHER

Here are a few ideas on how partners can work together to promote each other:

When you cross promote each others products it is important that you have tried and do believe in the product. You are not being honest if you try to promote a product that you don’t believe in and that dishonesty will eventually come across in your advertising. Partner’s can agree to swap ads or articles in each other’s ezines or send promotional endorsements to each other’s email lists. Personal testimonials can be powerful sales tools so take the time to compose a good one.

Another JV idea is to bundle your packages together. Bundling works best when the product complements yours. But, be careful that their product doesn’t overshadow yours. Also, don’t pile on so many bonuses that the offer becomes unbelievable. An offer too good to be true may raise doubts in the consumer’s mind.

Agree to “swap” products with your partner and offer them as a prize. Give the prize away in a contest or do a random drawing to one lucky subscriber.

When your partner has a company which offers services related to yours, you can create a “Virtual Company”. Your customers will enjoy the convenience of one-stop shopping. By cross promoting each other, you’ll BOTH gain new customers. Don’t limit yourself to partners who are close to you geographically. Remember, with fax and email your associates can be located anywhere in the world.

IN SUMMARY

The Internet has made the world a very small place indeed. Which is wonderful for you, the Internet marketer! You could potentially partner with anyone, anywhere! Open your eyes to the possibilities, get excited and get to work. The world truly is “your oyster”! Have fun and have success.

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Anne Ahira
Editor The BEST Affiliate Newsletter