How Does An LLC Business Structure Limit Liability?
One of the main reasons why a limited liability company (LLC) is a desirable business structure is clearly because it “limits liability;” but in what way and to what extent does it limit it? Understanding the answer to this question will be a big factor in determining whether you want to upgrade your sole proprietorship to an LLC. There are 10 times as many sole proprietorships that file a DBA compared to LLC filings in the US, and the reason is
How An Ecommerce Business Consultant Works For Startups
Ecommerce startups often need help and advice to establish themselves. With a crowded market and limited capital, startups constantly risk failure in their first few years. To solve this, many of these startups turn to ecommerce business consultants. As the owner of ecommerce startup, you might wonder if these consultants are worth the cost. However, these consultants can provide you with services that you might not be able to access without them. Here are five ways that an ecommerce business consultant
How To Start A Podcasting Business With Consistency
Podcasts are an exciting new medium in the entertainment industry. Podcast listenership continues to rapidly expand. In response, many podcasters have turned a profit by monetizing their podcasts. For the new entrepreneur with a personal podcast, this new industry can be a great chance to make money by being creative. However, having a podcast and having a podcast business are two very different things. If you want your podcast to profit, you need to navigate the market carefully. These five steps
How To Form Legal Startups In The Growing Cannabis Industry
As states continue to legalize marijuana, there is an increase in demand with a shortage of supply. This makes for a great environment to start a cannabis business. Millions are attracted to these startups to buy cannabis. Since the business model is highly profitable, many startups are entering the space. To help entrepreneurs who are starting out in the cannabis space, we got some tips from MJ Freeway on what startups in cannabis should be doing to build a successful business.
How To Get The Most Out Of Your Business Secured Credit Card
A business secured credit card is an important tool for building or rebuilding a business’ credit score. When business funding is hard to acquire, a business secured credit card uses the card holders saving account as collateral for the card’s line of credit. This means the bank will not need a credit score from the cardholder, since the deposit covers their risk. For first time business owners, these cards can be a great way to establish business credit. Without this credit,
How To Create An Effective Rewards Program For Repeat Customers
A rewards program can be a useful marketing tool for any retail company. By rewarding purchases, these programs help retain customers and encourage them to buy more. This is also cost effective for popular business companies. It costs, on average, a business 5 times more to acquire a new customer than it costs to retain an old one. As a result, rewards programs have become common throughout the retail sector. The problem is the average consumer only uses around 6 of
6 Popular Ways To Make Your Business Website Stand Out From The Rest
During the early days of the internet, it really felt like every business had its own unique website. Everywhere you went – even if it was to different competitors offering the same basic service – there was a strong sense of identity there, and a sense of who you were dealing with as both an individual and an entity. These days, much of that uniqueness is gone. The success of services like WordPress has left a number of sites looking almost
How To Analyze Your Competition For Market Opportunities
The biggest concern of a business owner is their competition. No matter what field you’re in, there is someone out there who could potentially take your customers. Businesses have to work hard to stay ahead of the competition, paying attention to what is going on in the market. Competitor analysis tools have been created, but for those who want to do their own research, there are a few simple steps to follow. Business owners should be able to conduct their own
5 Franchise Financing Solutions To Start Your Business
Franchise financing can be difficult, but there are many funding options available for the potential franchiser. If you own a business and are looking for a way to expand your operations, franchising is a possible opportunity. There are several solutions for franchise funding. Read on to find the one that works best for your business. The Franchisor Company It may sound obvious, but one of the most common sources of franchise financing is a franchisor or franchisor financing company. Many U.S.
How Obtaining Car Loans Is Beneficial To Limited Credit Buyers
No one can deny that a vehicle or an automobile is one of the most indispensable amenity/asset of an individual. In modern day of professionalism and mobility, one would not be able to survive in absence of this lucrative amenity. However, acquiring a vehicle would never be easy. Why? This is because it always demand immense spending of dollars. Yes, acquiring a personal or company car is capital expenditure which one usually make only few times in its life. But with
5 Steps To Business Succession Planning For A Smooth Transition
One of the toughest management challenges for a small business is successful succession from one owner to another. It is so challenging that most small businesses don’t survive it. For the owner of a small business, it’s important to treat your succession as a process, not an event. It’s also important to plan for your succession early. A business succession will take several years. It will also involve an array of issues both personal and professional for you and your business.
How To Turn Your Small Business Into A Lead Generator Machine
The success or failure of many small businesses is dependent on finding individuals likely to become customers, also known as “Generating Leads.” However, traditional lead generators have proven more and more ineffective as the marketing space becomes saturated and consumers grow more media savvy. For brand-new small business owners, this quest for lead generators is essential to grow your business. By using the 5 tips below, you can build lead generators that will ensure a steady stream of new customers. Know
These Essential Business Services Cost Less And Do More Than You Realize
Are you a micromanager? You’re not alone. Many entrepreneurs, perhaps most, struggle to delegate effectively. Micromanagement has all sorts of unintended consequences, such as poor resource utilization. When you micromanage, you’re “constantly putting out fires, rather than focusing on the larger tasks that only you can perform,” says the Forbes Coaches Council. Unlearning hands-on management habits is especially tough when the time comes to delegate to outside contractors and third-party service providers. How can you trust someone with whom you have
5 Client Onboarding Best Practices For A Rewarding Business Partnership
Finding clients should be the hard part of business, not onboarding them. Unfortunately however, there are many business owners that simply do not have the client onboarding processes in place
How To Start A Medical Device Business In The Healthcare Market
Innovative technologies are transforming patients’ lives for the better. Often necessity causes innovation and invention, and people can combine their knowledge and business acumen to provide a healthcare solution by
5 Ways Leadership Development Programs Benefit Business Success
Professional development is always a talked about topic in business. Recently, leadership development programs have come into the conversation among employers. Many top companies have leadership development programs in place
How To Create Financial Reports That Stakeholders Find Value In
Finances are complicated, particularly when you are talking about business finances. Unlike business finance, you do not have to create financial reports for personal finance management. Producing financial reports that
5 Reasons To Move Your Business To A Different City
When it comes to moving, most people will move houses before their company’s office moves locations, but putting your business in a new location can be extremely beneficial. From harnessing
Little-Known Ways Learnerships Benefit Employers In South Africa
Learnerships help young South Africans develop work skills that can help them have a long, lucrative career in their chosen industry. These apprenticeship programs benefit future members of the workforce,
Must Have Idea Management Software Features For Business Innovation
5 The idea management process is one many business owners are familiar with, including the owners of mobile shredding companies. However, many idea management strategies are just not as effective
How To Use Life Experiences To Benefit Your Business
Life is something that’s naturally made up of a diverse roller coaster of experiences. While some of the things that happen to you will be incredible, others will be more
5 Popular Business Transformation Strategies To Keep Startups Relevant
Business transformations are a huge undertaking for any business. It is a time of uncertainty and stress for everyone involved. But, a business transformation may be the only way to
How Co-Employment Transfers Risks Away From Small Business Owners
Co-employment is a highly-debated topic in the human resources field. Many believe that companies who use contingent staffing offered by professional employer organizations, or PEOs, are taking too much risk
7 Common Cash Flow Problems And How To Solve Them
Your business can’t operate without cash – except when it must. Most businesses, especially in their early years, endure cash flow troubles, but the best business leaders know how to
How Robotic Process Automation Software Delivers 100% Data Accuracy
In business, there are always new shortcuts and workarounds being developed to maximize workplace efficiency. The latest shortcut to be developed is called Robotic Process Automation, or RPA for short.
How Online Bookkeeping Services Help Small Business Scale For Growth
Contrary to popular belief, not all business owners have innate finance management skills. In fact, this is probably one of the most common struggles of business ownership for many women