Online Incorporation MaxBlog

Whether you are a new entrepreneur or a more experienced business owner, taking control of your finances can feel like a part-time job. Some simple tips can help you streamline your time, organize your finances and reduce the stress of business money matters.

1. Keep Your Bills in One Place

When the mail comes, make sure it goes in one place. Misplaced bills can be the cause of unwanted late fees and can damage your credit rating. Whether it’s a drawer, a box, or a file, be consistent. Size is also important. If you get a lot of mail, use an area that won’t get filled up too quickly.

2. Pay Your Bills on Schedule

Bill paying can be simplified if it’s done at scheduled times during the month. Depending on how many bills you receive, you can establish set times each month when none of your bills will be late. If you’re paying bills as you receive them, chances are you’re spending too much time in front of the checkbook. Although bills may state “Payable Upon Receipt”, there’s always a grace period. Call the creditor to find out when they need to receive payment before the bill is considered late.

3. Read Your Credit Card Statements

Most people take advantage of low interest credit card offers but never read their statements when paying the bill. Credit cards are notorious for using low interest as bait for new customers then switching to higher rates after a few months. Make a habit of looking at your statement carefully to see what interest rate you are paying each month and if any transaction fees have been applied. If the rate increases or a transaction fee appears on your statement, a simple call to the credit card company can oftentimes be beneficial in resolving the matter. If not, try to switch your money to a more favorable rate.

4. Take Advantage of Automatic Payments

Most banks offer a way to automatically deduct money from your account to pay creditors. In addition, the creditors usually offer a lower interest rate when you sign up for this payment option because they get their money faster and on-time. Consider it as one fewer check to write, envelope to lick and stamp to buy. Just make sure you record the deduction when the automatic payment is scheduled or you run the risk of bouncing other checks.

5. Computerize Your Checkbook

Using a software program is a handy way to organize your finances. Whether it’s Quicken(r), Microsoft Money(r) or another package, these easy-to-use programs make bill paying and bank reconciliation a cinch. Computer checks can be ordered almost anywhere and fit right into most printers. Once the checks are printed, all of the information is automatically recorded in your electronic checkbook. Furthermore, many banks have direct downloads into these software packages so when money is deposited or withdrawn, the transaction is entered immediately onto your computer. And, when it comes time to do taxes, it couldn’t be easier.

6. Get Overdraft Protection

Most banks have a service where, if you run the risk of bouncing a check, the money will come from another source. For a nominal fee, the bank will link your checking account to either a savings, money market, or credit card so the embarrassment of bouncing a check will be avoided. Call or visit your bank to learn about this convenient feature.

7. Cancel Unused Accounts

Whether it’s a credit card or bank account, write a letter requesting that the account is formally closed. Not only will this improve your credit score, it is a useful way to avoid money from being scattered all over the place. Don’t let department stores and credit card companies lure you into opening new accounts by offering favorable interest rates and purchase discounts. It’s easy for credit to get out of hand by taking advantage of every credit offer that comes your way.

8. Consolidate Your Accounts

If you have several credit card accounts with outstanding balances, try to consolidate them into one. Be careful and check the balance transfer interest rates and one-time fees. Also, make a list of all your open Money Markets, Savings, CDs, IRAs, Mutual Funds, and other accounts to see if any consolidation can be done. Keeping your money in fewer places eliminates all of the guesswork involved and reduces errors.

9. Establish Automatic Savings

Create a link from your checking account into a savings account that will not be touched. This can usually be done through the banks and automatic amounts will be transferred over each month. Most people will not put money into a savings account on a regular basis. They may wait until a large tax refund check arrives or some other event to actually deposit money into savings, retirement or other accounts. If you establish an automatic savings deposit every month, your accounts will begin accumulating money faster than you think.

10. Clean up Your Files

Make sure your paid bills are organized in a filing cabinet. Keep individual files for paid bills. Go through your files at the end of each year and throw out bills and receipts no longer needed for auditing purposes. Contact your local IRS office to see how long records need to be kept for audits. Usually federal tax return audits can be done three years back but cancelled checks may need to be kept for seven. Consult the Internet for auditing and records-keeping procedures for your state or region.

(c) 2005 DebtGuru.com(r). Michael G. Peterson is the Vice President of American Credit Foundation, an IRS 501 (c)(3) non-profit consumer credit counseling organization that has assisted thousands of individuals and families with their financial situations through seminars, education, counseling services, and, debt management plans. For more information and free consumer resources visit http://www.debtguru.com

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 Michael Harrison

The highly successful Pineapple Dance Studios in London has been transformed from a privately owned dance studio to a Publicly Owned Corporation quoted on the London Stock Exchange.

The company chairman, entrepreneur Debbie Moore became the first female Chairman of a London quoted company in 1982. She attributes her success in business to the following;

* Work with what you know. In the tough world of business it’s easier to find success if you care about what you do.

* Don’t make money your sole motivation. Never turn your greatest interest into a business because you want to make millions. Status and money may follow, but they are only a by-product of your success.

* Learn about Finance. In the early days you may not be able to afford an accountant. Enrol in a small business course and get familiar with accounting. You will also need it when you can afford an accountant.

* Know when to spend and when to save. While you can save money on some things like office furniture there are others where you must always be professional. Stationary, promotional materials etc., are good examples.

* Organise your private life. You must be able to keep a balance and not be pulled in too many directions. Treat your private life with the same care and seriousness that you treat your business life.

* Engineer your own good fortune. Gary Player, the South African golfer once said, “the harder I practice, the luckier I seem to get because the more I seem to win”. So the harder you work the more successful you will be.

Clearly there is more to it than just these points but as the highly successful entrepreneur, Debbie Moore explained it’s good sense and worth keeping these 6 points at the front of your thinking as you seek success in your business.

Tip: Success lies in everyone in some form. Will you be guided by it or deny it?

Article by Michael Harrison, Author, Publisher and Business Consultant. Learn from an expert: Go to: http://www.be-your-own-business-expert.com/Entrepreneur.html

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Article Source: http://EzineArticles.com/?expert=Michael_Harrison

by Matt Bacak

The Powerful Promoter

Copyright 2005 The Powerful Promoter

Use this comprehensive checklist to plan each step of your new business incorporation and transform your dream of entrepreneurship into reality. These steps may not necessarily be completed in the order listed; however, you can use them as a guideline for completing all of the necessary business startup tasks.

- Determine what kind of business you want to start.

- Learn about the industry for your business.

- Analyze the market for your business.

- Study your competition.

- Educate yourself on running a business.

- Join trade associations.

- Name your business.

- Perform a trademark search.

- Register a domain name.

- Design a website.

- Obtain a logo.

- Determine business structure (sole proprietor, partnership, or corporation).

- Evaluate your personal budget.

- Write a business plan.

- Write a marketing plan.

- Locate financing.

- Create a list of start-up supplies with budget.

- Set up a system for accounting and payroll.

- Apply for business license, fed tax ID, fictitious business name.

- Select a location and set up shop.

- Order signage.

- Obtain business tools (computer, printer, fax, postage, office supplies, and fixtures).

- Order business stationery (business cards, letterhead, brochures).

- Obtain inventory.

- Create an operations and employee manual.

- Hire employees.

- Set a launch date.

- Plan a grand opening event.

- Send announcements to everyone you know.

- Send press releases.

- Turn on the OPEN sign!

- Revisit your business plan and update often.

- Evaluate your marketing strategy often.

- Prepare a realistic business plan.

Think of this as your business road map. Define exactly where you want to get to with your business and then you can effectively map out your path towards achieving your goals!

By creating a detailed business plan you should cover all options and eventualities and have a clear future vision that will guide you through the rest of the start-up processes.

- Your business plan should encompass the financial considerations of starting your small or home based business:

Do you have the capital required?

Do you need to raise additional funds?

Who are you going to approach for finance?

Who do you trust for advice?

And don’t forget to open a business bank account…

- Consider the legal implications of becoming a business owner and proprietor.

Are you better off as a sole trader, a limited company or are you considering a partnership?

Make sure you consider all the angles and protect yourself and your assets personally from the outset.

Anything you bring to the business has to be itemized, valued… even if you’re a sole trader.

And make sure you are professionally covered with the appropriate business indemnity insurances.

- Get your family and friends behind you from the get-go.

Make sure your family and friends are fully understanding and supportive of your ideas to venture into small business start-up.

Do they understand the level of commitment you will have to show for on-going and long term success?

Their belief in you and continued support of you will work wonders towards your on-going success, so don’t forget to look out for them too.

- Protect your family, protect your business.

If, God forbid, something were to happen to your health, how would your business survive, how would your family cope?

Consider insurances - from health, critical illness and income protection insurance to life insurance ? and consider your pension and long term financial security.

- Face those ‘taxing’ questions from the start.

Your small or home based business has to consider its taxation situation.

Do you need to register your business for sales tax purposes; have you informed your tax office of your business’s inauguration?

Do you have a good tax professional lined up to guide and assist you?

The bottom line when it comes to taxation is that from the outset you need to make sure your papers and books are in order, this will save you time, money and heart ache in the long run.

- Prepare realistic and achievable goals and targets for your first year.

Do not expect to conquer the world with your first year’s business returns.

Starting a business is a life changing undertaking and one you must be patient with. The rewards are there, but make sure you set yourself achievable targets ? when you reach them they will give you the confidence and satisfaction to set new goals and to continue building your business’ success.

—

Matt Bacak, The Powerful Promoter and Entrepreneur Magazine e-Biz radio show host, became a “#1 Best Selling Author” in just a few short hours. He has helped a number of clients target his specialty, opt-in e-mail direct marketing systems. The Powerful Promoter is not only a sought-after Internet marketer but has also marketed for some of the world’s top experts whose reputations would shrivel if their followers ever found out someone else coached them on their online marketing strategies. For more information, visit Bacak’s site at http://www.powerfulpromoter.com or sign up for his Powerful Promoting Tips at http://www.promotingtips.com

Online incorporation service MaxFilings has officially launched its interactive, easy-to-use

Fees chart showing the cost to incorporate online in each state.

Many online incorporation services create confusion for companies wishing to incorporate online by presenting only their service fees and not showing additional costs such as state fees required to form a corporation.

But now with MaxFilings, you can easily view complete cost to incorporate or form an LLC in the state you’re interested in, including all necessary state fees and the cost to prepare and file articles of incorporation.

It’s also easy to save any service options you’ve selected while you continue to research your online incorporation choices… or choose to form your corporation or LLC right away.

You can compare incorporation costs across different types of business entities, including C corporations, S corporations and LLCs, and see how much it costs to form that entity in different states.

There are no unexpected fees – you can see exactly what it will cost to incorporate upfront.

You can also view pricing for additional services and materials that come in handy when forming an LLC or corporation, such as obtaining a Federal Tax ID Number (EIN) or a kitand seal to assist in compliance with any state rules and regulations for documentation and record keeping.

After viewing the cost to incorporate, users can click directly into the MaxFilings online incorporation service system, to complete an order right away or just explore the system and start organizing your information.

Check out costs to incorporate online right now: https://www.maxfilings.com/order-system/quick_quote_setup.php

Considering Incorporation in Delware? Think Delaware South and Delaware West

Delaware incorporation has long enjoyed a reputation as the choice for many businesses, but that is changing as other states make efforts to foster a business-friendly environment for incorporation, says a new article released by MaxFilings Online Incorporation Service.

The Delaware incorporation article looks at points that businesses should consider when deciding where to incorporate, helping you compare and contrast incorporation in Delaware, Nevada and Florida.

You may also be interested to learn when none of these states may be the best choice for incorporation. Check out the article here: Where to Incorporate: The 3-Man Fight between Delaware, Delaware West and Delaware South

In some states, only professionals (required to have licenses to do business) are allowed to form a Limited Liability Partnership and, in addition, some states have special insurance requirements. Limited Liability Partnerships are similar to LLC’s ….Incorporation Knowledge Center

by Laura Orsini

In What Subject Are You An Expert?

If you’re a small business owner, presumably you are an expert in your industry or profession - or you would not be in that industry or profession.

Expertise does not mean being the best in the world at something - like Lance Armstrong or Bill Gates. Can you imagine being ranked #1 IN THE WORLD at a particular skill or talent?? It sure would be nice - but it doesn’t happen for most of us. And yet many more of us are experts than we may realize.

With more than 6 billion people in the world, good thing it’s utterly unnecessary to be the best in the world at something to qualify as an expert. All expert means is that you know your subject BETTER THAN MOST people. American Heritage Dictionary defines an expert as “a person with a high degree of skill in or knowledge of a certain subject.” Given those more relaxed standards, chances are pretty good you know a great deal about at least one particular subject, meaning that you are an expert in some area.

So you’ve given it some thought and have acknowledged that you really are very good at something. Canvas pool covers. History of birdhouses in America. Ways to help college freshmen succeed. The subjects are limitless - but you ARE an expert at one of them.

Question: What are you doing with that knowledge and expertise? If “using it to build credibility in my area of specialization” is not your answer, it should be!

Why Credibility?

Simple. Credibility is the thing that makes people respect you as an expert. It’s the thing that gives you an edge because it causes people to seek you out for your knowledge. Credibility means the quality of being logically or apparently valid. And with credibility comes authenticity, believability, genuineness, legitimacy, visibility, trust, plausibility, reputation, and word of mouth.

Are those qualities helpful in building a successful business? You’d better believe they are!

Benefits Of Creating Credibility For Yourself / Your Business

Perception of Trust - Credibility creates an implied trust that decreases your need to work as hard to prove yourself. People trust you if you have credibility.

Knowledge Showcase - Credibility allows you to share useful and/or entertaining information about your area of specialization that draws added attention to you/your business but is not confused with advertising.

Implied Quality - Credibility carries with it an assumption of due diligence. For example, if Oprah recommends a book, do people bother to read other reviews or do they run out and buy the book? Deserved or not, Oprah’s opinion carries some of the highest credibility in the world.

Increased Exposure - Credibility enables you to reach potential customers who fall beyond the reach of your traditional marketing efforts.

Improved Recall & Recognition - Credibility reduces your audience’s resistance to your marketing message. With traditional advertising, a customer must hear your message as many as 21 times before they recognize your message as your message, remember the contents of your message, and are moved to take action.

Heightened Demand - The more credibility you have, the more likely someone is to want to pay for your product or service.

Brighter Visibility - The more your credibility increases, the more likely people are to seek you out to suggest joint ventures and other opportunities.

How Can You Build Expert Credibility?

There are many ways to increase your credibility, some of them more instant in nature, while others require a more plodding, long-term effort.

Get interviewed by the mass media. PRO: Provides immediate visibility. CON: Is inordinately difficult to accomplish. KEY: The old 80/20 rule - put the large majority of your efforts into more realistic goals, but never neglect the attempt for widespread coverage entirely.

Contribute to mass media publications. PRO: Offers virtually instant credibility. CON: This market is neither specialized nor particularly focused on your industry. KEY: Regular appearances, like a featured column.

Get interviewed by or contribute to niche media outlets. PRO: Is easier to achieve than national exposure. CON: Offers less exposure than national outlets. KEY: Write or speak as THE expert in your field.

Get a blog. PROS: Easy to do, very inexpensive, and most blog providers have syndication technology built right in. CONS: Everybody’s doing it, and just because you write does not mean anyone will read. KEYS: Write more than one blog on hyper-niche topics, cross-link them, and promote them just like you do your Web site.

Try Podcasting. PROS: Almost as easy as blogging, but with audio - once you learn how; new listeners are seeking Podcasts daily. CONS: Finding the resources to learn how to Podcast is still a challenge; attempting to produce a quality show is more difficult than it seems. KEYS: Commit to a niche topic, have fun, and experiment until you find your own unique show format.

Write! Articles, media releases, books, info products, etc. PRO: It’s the easiest way to create visibility. CONS: It takes time, effort, and research; may require you to hire an editor. KEYS: Test various markets; develop a system.

The trick to creating expert credibility and its subsequent increased publicity - even notoriety - in your field is to GET OUT THERE! No matter how good you are at what you do, no one’s likely to stumble over your genius as you quietly plod away at your desk or in a corner of your shop. You must draw attention to yourself like a beacon. However, with some directed and dedicated effort, you can achieve expert credibility in your industry and race to the forefront of your profession.

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Laura Orsini is an editorial consultant, helping small business owners use words to build credibility and enlarge their client bases. For further information regarding a viable alternative to the credibility-building methods mentioned in this article, join Laura and fellow credibility expert Allan Sabo, of Alti Success Strategies, for their next tele-class, “Credibility-Building Secrets Revealed.” Visit http://www.credibilityexpertspublishing.com/telsem-landing.html for dates and times.

Using sample business plans and their structure, along with studying as many business plan examples as you can, will provide you with the necessary framework to consider your business from every possible angle, whether you’ll be taking advantage of incorporation or LLC Formation .

Starting or running your business without a business plan is akin to being a human without a skeleton!

Not only will using a sample structure highlight any areas you haven’t fully thought through, but it will also provide you with a good idea of what makes a good business plan, and what doesn’t.

The importance of your business plan as a motivational factor in running or starting your business cannot be underestimated. You will find that your commitment continues to build as you collect information, research and write each section.

Your business plan should always accompany requests for Small Business Loans , and lenders or any kind of angel investor will simply refuse to consider your business proposal without one.

Lenders and investors want to see your plan with the aim of satisfying key questions before they make their decision to grant funding or not.

Once you’ve commenced trading your small business plan will act as a steak in the ground, and help you measure where you expected to be against where you actually are. It will help you take corrective action as necessary.

Sample Business Plan Structure

All plans should include at least the elements listed below, and perhaps additional sections depending on the type of industry.

* Executive Summary

* Company Background

* Products or Service Overview

* Unique Selling Proposition and competitive advantages

* The Marketplace

* Operations

* Leadership and management profiles including professional competencies

* Professional Support

* Risks and Threats assessment

* Financial forecasts including key assumptions

* Relevant appendices

Collecting the information for all the sections is time consuming and sometimes difficult. The business section of your local library is always a good place to start research. Ask your friendly librarian about how to look up market research reports, and how to investigate competitors.

If you are not familiar with spreadsheet software, constructing the necessary financial forecasts represents a significant hurdle. You have 2 choices:

Pay someone to put part or all of the plan together for you, or a small investment in some business planning software.

The advantage of using a professional is you will receive the benefits of their experience, combined with a professional looking plan.

The disadvantage is that it won’t be easy to make changes, and more importantly, because you will not have been as involved in its preparation, you won’t be as familiar with its contents as you should be. Make sure to learn the contents well.

One final tip though, remember it’s the quality of the information you put into it that determines what comes out.

—

by Neil Best

Neil Best has over 15 years experience in business finance. For successfully funded sample business plans, tips and advice, visit http://www.smallbusinessfinancetips.com

Florida Division of Corporations serves as the central agency for registering and incorporating your choice of business entities. You can incorporate with the Divisions yourself or or shop various online business incorporation services. The filing fees for these services vary. Form an LLC - So do your comparison shopping to find the best prices. But if you’d rather incorporate by yourself, the best place to start is: Florida Divisions of Corporations.

At the Florida Divisions of Corporations web site, you will find resources for starting and registering your business. The site will also give you information on self-incorporation. There may be a minimal service charge to incorporate with the Divisions.

Types of Business Entities and Other Incorporation Terms:

Florida Divisions of Corporations: Business Entities

The following summary of the Division of Corporations’ role, and descriptive list of the type of filings and registrations for which it is responsible, will help you determine if the Division provides the particular type of information or service you desire.

The Division of Corporations is a ministerial filing agency which serves as the statewide central repository for business entity filings and annual reports, the statewide central filing office for judgment lien filings, and the statewide central registration office for fictitious names, trademarks and service marks. The Division is also the resource for information contained in these records.

A corporation is a legal entity, created by statute (i.e. the state) with all the rights, privileges and responsibilities of a natural person; possessing the attributes of limited liability, centralized management, continuity of life and fee transferability of interest.

A for-profit corporation is a corporation created for the purpose of conducting business in the widest sense of the term. In Florida, such a corporation may be organized generally under Chapter 607 but may take on special attributes as prescribed by other subservient chapters.

A not-for-profit corporation is a corporation created for religious, charitable, or educational purposes which are generally formed under Chapter 617 but may take on special attributes as prescribed by subservient chapters.

A foreign corporation is a corporation authorized by any jurisdiction other than Florida, to transact business.

An alien corporation is any corporation authorized by any jurisdiction other than; the United States, any state, the District of Columbia, Puerto Rico, Guam or any possession or territory of the United States, to transact business.

A partnership is an association of two or more persons to carry on a business for profit as co-owners. General Partnership: An association of two or more partners each as a general partner with full status of unlimited personal liability and managerial control. Limited Partnership: An association of one or more general partners and one or more limited partners with limited liability and little or no managerial control (i.e. investors only).

A fictitious name is any name other than an individual’s legal name. Registration of that name is required if it is used in business in order to inform the public of who is actually conducting business.

A limited liability company is a hybrid form of entity combining some of the attributes of a corporation with the association tax status of a partnership.

A Trademark or Service Mark is a name or logo adopted by a person or entity to identify the source of a particular product or service provided in commerce. It is distinguished from a fictitious or corporate name in that it must meet a high standard of creativity and originality than do such trade names.

Federal Tax Liens, as authorized by federal law, are required to be filed in the state or local office designated for lien filings. The Division is responsible for filing liens against business entities, estates and trust. The counties record personal real estate liens.