Expanding Business

Virtual office center may be the answer for you! The concept of virtual office is not new but with advancements in latest internet/communication technologies, the idea of virtual office has become far more appealing for a wide range of businesses. The reason for that is a marriage between computers, internet and telephone systems. Customer is assigned a dedicated phone line. When a call comes in, a computer screen pop-up tells the receptionist name of the business and how to answer and handle that call. In addition, the customer has ability to access their account with virtual office service through internet and give instructions on how to handle their calls, messages, mail or request extra services like reserving a conference room or e-mailing an important document.

Consider that for a fee of just few hundred dollars per month your business can establish a prestigious and professional address with secure mail service, professional receptionist service and “on-demand” use of furnished offices and conference rooms for those important business meetings! Additionally, most of the virtual office business centers provide variety of office services such as copying, faxing, secretarial services and even kitchen facility.

Of course, not every business owner finds the idea of virtual office attractive to their enterprise, but those who do, will undoubtedly realize tremendous savings and benefits!

Business Laws

If you’ve paid attention to the headlines lately, you probably know that employment law for business is one of the number one areas where you can get into trouble if you aren’t up on all the employment laws and regulations. There are numerous laws that govern the employment of both regular employees and contract employees. Just for a broad overview, take a look at all the employment business laws you must meet:

  • Civil Rights Act of 1966
  • The Equal Pay Act of 1963
  • Americans with Disabilities Act
  • The Immigration Reform and Control Act of 1986
  • The Age Discrimination in Employment Act
  • The Equal Employment Opportunity Act
  • The Bankruptcy Act
  • The Occupational Safety and Health Act
  • FMLA, the Family Medical Leave Act
  • Employee Polygraph Protection Act Labor Law
  • FLSA, the Fair Labor Standards Act

And that’s not even counting the various state employment business laws that might apply to your business! If you aren’t sure of whether you are meeting all the regulations, it’s a good idea to get a checkup for your HR department.

Do you happen to work in the international arena? If you have anything at all to do with international business, then you should be aware of the many ways in which international business law can affect you, your business and your bottom line. At a minimum, you need to make sure that you meet general international business laws, specialized export laws, import laws and any laws of the foreign country in which your business operates.

And what about the business law scene at home? Were you aware that in addition to Federal business law and international business law, you are probably required to meet State business law regulations? Do you know whether you need a business permit or license? Failure to obtain one can result in the shutdown of your business and hefty fines and penalties. This is just one of the ways that state business law, such as California business law, can affect the health of your business if you aren’t careful to stay on top of things.

Finally, what about Internet and online business laws? Were you even aware that there was such a thing? The Internet has exploded so much in the last decade that the government has found it necessary to institute Internet compliance laws. If you operate a website of any kind and do not meet the compliance regulations, that site could be shut down and you could face criminal prosecution and hefty fines.

Of course, no one should ever attempt to navigate the complexities of any type of business law alone and the best course of action is to always seek the qualified professional advice of a business law firm, but hopefully these tips will help you to understand a little bit more about business law requirements.

Summary: When operating a business, regardless of whether it is a small business or a large corporation, you need to be on top of business law compliance. Even if you hire a business law firm, it’s still a good idea to understand what regulations you must meet.

Incorporating Business

Corporations provide the ability for a business to raise capital through share offerings, to exist as their own entity and reduce the personal liability of its owners and shareholders. In addition, there are tax advantages that come with being a corporation – such as the ability to write off health and benefit plans of employees. It is often said that a corporation has a “life of its own” and as such, can exist well beyond the lifetime of the original owners.

However, there are also downfalls to incorporating: You may find that it results in higher taxes overall despite the increased write-offs; the cost of incorporating a business is considerable, and requires a lot of knowledge and legal planning; a corporation is overseen by both local, state and federal entities, which usually requires increased paperwork and compliancy on all levels.

Corporations generally fall under two distinct types: A “C” Corporation (typical) and a Limited Liability Company (LLC). There is also what is known as a Subchapter S Corporation, though this is strictly a tax election only where the earnings and profits are listed as distributions on a personal tax return.

“C” Corporation

A “C” Corporation is the typical model that most corporations follow. Under this model, stock can be sold in the company to raise capital, and is considered a separate taxable entity. After a corporation is formed it exists infinitely as long as yearly fees are maintained.

To form a corporation, you must file “Articles of Incorporation” with your state government. You must also establish a set of bylaws for your corporation. While bylaws do not have to be filed with the state, they are important because they set out the basic rules that govern the ongoing formalities and decisions of corporate life, such as how and when to hold regular and special meetings of directors and shareholders and the number of votes that are necessary to approve corporate decisions. While this may not seem important at first, its value will come into play when stock is issued outside the ownership of the original owners.

Limited Liability Company (LLC)

A Limited Liability Company (LLC) is a hybrid of a “C” Corporation and partnerships. It affords the same protections as a “C” Corporation but allows for the pass-through tax structure of partnerships. It is more difficult to setup an LLC, but it is often easier to run one than a corporation.

One of the biggest drawbacks to an LLC is that a court may treat the LLC as an extension of the owner’s personal affairs, rather than as a separate entity. In this case none of the protections afforded a corporation would apply and you would assume all liability. In order to prevent this from happening it is important that you act fairly and legally in all business transactions, keep the business well funded, keep the business funds separate from any personal funds, and create and maintain an operating agreement.

For taxing purposes, an LLC is taxes through the owner’s personal income taxes. The income and expenses of the business are listed as distributions on Schedule C for sole ownership businesses and IRS Form 1065 for businesses with multiple owners.

LLC and “C” Corporations Compared

Similarities

Both are considered legal entities and are filed with the state government.

Both provide limited liability protection; the owners are typically not personally responsible for the debts and liabilities of the business. However, the officers can be held personally responsible for their actions – such as failure to withhold and pay employment taxes.

Both entities have very few ownership restrictions.

Differences

Taxation:

  • The LLC is a pass-through tax entity – this means that the income or loss generated by the business is reflected on the personal income tax return of the owners.
  • A “C” Corporation is a separately taxable entity. The profits and losses are taxed directly to the corporation.

Formalities:

  • A “C” Corporation requires that certain formalities be followed. The corporation must hold annual meetings of shareholders and directors each year and meeting minutes must be kept with the corporation’s records.
  • A LLC is not required to hold annual meetings; however, it is a good idea to document major decisions of the company for legal purposes.

·Transferability of Interest:

  • Transferring stock in a corporation is typically easier than the transfer of ownership with an LLC. A shareholder of a corporation is not required to get approval of the other shareholders before selling stock.
  • With an LLC, the usual rule is that the owners must obtain approval of the other owners before ownership can be sold or transferred.

Where to Incorporate

When it comes to incorporating your business you are not restricted to the state you currently reside in. You can incorporate in any of the 50 states. Many people choose to incorporate in their home state where they currently are doing business. Doing so may save you money because corporations are required to register as a “foreign corporation” in each state where they do business outside of their state of incorporation.

However, if your home state has a high corporate income tax or high state incorporation fee it may be wise to incorporate elsewhere. In addition, certain states are more corporation friendly than others (pro-business). They offer added protections and further limit the liability of the corporation when it comes to legal matters, as well as offering less strict laws and regulations on what can and cannot be done within the corporation itself.

Delaware is a popular choice because of its pro-business climate. Over half of the companies listed on the New York Stock Exchange are incorporated in Delaware. Recently, Nevada has also gained popularity due to its pro-business environment and lack of a formal information-sharing agreement with the IRS. In addition, Nevada does not have corporate income taxes.

As you can imagine, states often compete for businesses to incorporate there. Take your time to research the benefits of each, and consult a business lawyer for advice if you are unsure of the advantages or disadvantages of a certain location.

Become an Online Teacher to Earn a Living

This has proven to be a great way of assisting out students in need be it kids with their technology and mathematical or students who have progressed to a foreign area and are wrestling with the rudiments of new terminology. It has also assisted individuals to make a few additional dollars to complement their earnings.

Often individuals don’t have the means to discover a stable career in educational institutions and this does not mean they cannot work good teachers. If you have the interest to show and are looking for that additional money, online teaching is the thing for you. It is one of the best and stable tasks available on the world wide web and it has taken the classroom into the houses of countless numbers of students across the world.

For those who do not have the choice of taking up educating as a fulltime 9-5 job at a college, teaching on the world wide web is the next best available option! It does not need one to have any professional credentials and all one needs to have are perfect basic principles in the areas you wish to show so that making clear questions and providing knowledge can be done in the right manner. If you are an excellent tutor, there is often a very popular need for you in the world wide web knowledge industry.

The key to finding the students to set out on the teaching business is to recognize which is your power point. Subjects which need the most help in our technology and mathematical and ‘languages’. Math can be generated very pleasant to learn if one has the ability teaching well. Being aware of the program in educational institutions and the themes being taught is very necessary to achieve success as an excellent tutor.

It is important to let individuals know of your objectives to wish to show. Getting the news out in your neighborhood through loved ones can often help set you up and once you have established yourself as an excellent online tutor, there will be students lining up for your classes! Getting a few catalogs created and sent out to close by educational institutions can be a wise idea to enhance you as well.

Business Lessons From History

The reason history is important is because we live in a cause-and-effect universe. Similar choices produce similar results at the individual (micro) level and at the national (macro) level. History is the story of choices made, and the results of those choices. LESSON ONE: Look For What Worked And What Didn’t Work, And Why You can use history like a case study in business school. Example: Mark Twain became a partner in a publishing company, Webster & Co., which published the ” Personal Memoirs of U. S. Grant.” Twain also obtained the rights to Pope Leo III’s authorized biography. The first book became a best seller. The second sold poorly. Both publications seemed like good ideas. Twain assumed that purchasing the Pope’s biography would be required reading for American Catholics. It wasn’t. At that time many working-class Irish and German Catholics couldn’t read and those who could had little discretionary income for purchasing books. Grant’s memoirs became a literary and financial triumph because it was written by a popular President who had just died, it provided an insider’s account of the Civil War, which was a fascinating topic for millions, and it was beautifully written. (See Fred Kaplan, “The Singular Mark Twain.” NY: 2003, Doubleday, pp. 422, 423)
LESSON TWO: There Is Magic In Thinking Big Ted Turner is the biggest-thinking individual I have ever known personally. He literally changed the world with CNN. Changing the world is exactly what he intended to do. I was an on-air host and producer at TBS when CNN was being planned. But I had no idea how big Ted was thinking. And where did Ted Turner get his inspiration? From history. One of Turner’s favorite characters as a youth was Alexander the Great, who is reported to have wept because there were no more worlds left for him to conquer. An in-depth study of history can raise your aspirations. When you discover what others have been able to accomplish under adverse conditions and often with few advantages, you may hear a voice inside that says to you, “I can do something significant too.” “Make no little plans; they have no magic to stir men’s blood.” The quote is from Daniel H. Burnham. Here’s a thumbnail sketch of the man behind the quote. Burnham, who’s the subject of Erik Larson’s beautifully written new book “The Devil In The White City,” was the man who made the Chicago World’s Fair happen. He was Director of Works, World’s Columbian Exposition, 1893. Burnham and his partner John Wellborn Root designed some of Chicago’s earliest skyscrapers. His plan for Chicago was used for many years, and is considered a classic example of city planning. The book “Time Tactics of Very Successful People” contains an entire section on how high achievers make plans. For information about obtaining this book, go to http://www.achievementdigest.com/timetacticsofverysuccessfulpeople.html LINCOLN’S LOG Lincoln still influences decisions. Christie Hefner, chairman and chief executive, Playboy Enterprises, recently told a New York Times writer that she had learned an invaluable leadership lesson from Lincoln. Here is a quote from that interview: “In leadership, it isn’t about what you say; it’s about what the other person hears. If you articulate well, like Lincoln, you have a tendency to think: ‘I’ve made myself clear.’ But the point is, Lincoln realizes, what did the other person hear?” Lincoln is generally thought of as a politician, which he was, but his vocation was the law. He served about 1500 days as President and 23 years as a lawyer. During that time he tried approximately 5000 cases, an average of about 200 a year. In the huge Eight Judicial Circuit of Central Illinois, Lincoln had the largest single caseload. During his career, Lincoln was involved in 15 murder cases. Of those, four men were found not guilty (one by reason of insanity), two were indicted but not prosecuted, one escaped during trial, six were convicted on the lesser charge of manslaughter, and only two were found guilty and sentenced to hang. (Lincoln Legal Briefs, July-September 1996, No. 39)

A quaint note has survived from one of Lincoln’s civil cases in the 1850s. “If you settle I will charge nothing for what I have done, and thank you to boot. By settling you will likely get your money sooner, and with much less trouble and expense.” (Journal of the Abraham Lincoln Assn., Vol 16, No. 2, pp. 4, 5) Lincoln understood that compromise is necessary in everyday life. “Persuade your neighbors to compromise whenever you can,” he wrote in a lecture for lawyers. “Point out to them how the nominal winner is often a real loser–in fees, and expenses, and waste of time.” Learn about how Lincoln communicated from the recently released DVD “Lincoln On Communication.” It is widely used as an instructional manual in leadership and communication programs, but it also is valuable for self-study. It comes with an instructor’s guide. For information about obtaining this valuable resource, go to http://www.achievementdigest.com/lincoln%20on%20communication.html Another Lincoln resource is the book “The Words Lincoln Lived By.” For information go to http://www.achievementdigest.com/thewordslincolnlivedby.html The book is available as a spoken-word audiocassette. For information, to http://www.achievementdigest.com/inspirationalwords.html Quantity prices are available. One of our readers ordered 200 copies to give to customers and prospects. This article is excerpts from The Achievement Digest www.achievementdigest.com
(For a complimentary subscription, go to www.achievementdigest.com and follow the prompts.)

Accounts Receivable Funding

What is Accounts Receivable Funding? It is the purchase of Accounts Receivable by private funding sources as opposed to obtaining a loan against them through traditional bank financing. Accounts Receivable Funding is similar to traditional bank financing but has many more advantages:

  • Offers immediate and dependable access to unlimited working capital.
  • Quickly strengthens your company’s financial statements and credit rating.
  • Makes it possible for you to obtain cash discounts for early payment of your accounts payable (or any other debt.)
  • Gives you the ability to offer better credit terms to your clients.
  • Increases your purchasing power and provides cash for marketing, expansion, and new equipment.
  • Can enable you to meet payroll, pay your taxes on time and eliminate the need to file bankruptcy.

With Accounts Receivable Funding, your invoices for goods or services rendered to your customers can be converted into immediate cash to better manage and expand your business… and utilizing a streamlined application and quick approval process (unlike bank loans that can take weeks to process and require volumes of paperwork, most applications are approved within 24-48 hours.)

How to Give Informative Talks

Informative talks to smaller groups allow you more intimacy with the audience. You will be able to more closely connect with their needs and their responses to your speech. You have something to say that is important not only to you but to the audience as well. They will take time to listen and not socialize as long as what you have to say is relevant to their pursuits. If you are not relevant, you must find a way to make your topic something they want to know. You must make them aware of the importance of your topic. Suggest books they can read, suggest ways they can use the content of your speech to their advantage to make improvements at work or at home. You want to make sure that you deliver something of value

The point of an informative speech is not to sell yourself and make it an infomercial. The point is to inform the audience of a salient topic and give them information that they can use immediately. Once you have accomplished that task, gaining additional bookings will be easy. I have sat in many audiences and really enjoyed the speeches except when it came to the end and they went into full commercial mode. A successful speaker that is making an informative speech does not do it; they simply let the audience know they will be available for questions at the end of the speech.

An informative talk should also have some supporting materials so that it is easier for the audience to follow along. Many speakers do not want to take the time or spend the money to provide unbiased hand-outs. The one thing I do is make sure they have a worksheet where they can jot down important information (which they keep for future reference). Be ready to dole out free information.

Good Manners Mean Good Business

How do you enter a room at a networking event? Do you look for a friend or acquaintance that you already know? Will you rush to the bar or head for the buffet table? Will you make the rounds and hand out your business card to everyone you see as quickly as possible? What plan do you have to make the most of your networking?

None of these aforementioned tactics will be very beneficial to you as a professional if you haven’t established any common ground or done anything to set yourself apart from the others at the event. What can you do that will make a lasting impression with everyone you meet? How can you set yourself apart from every other networker in the room?

I want you to enter every room as if it is your own personal party. You are the host or hostess. This must be firmly planted in your mind before you cross the threshold of a room and you cannot waiver. As the host or hostess, it is your job to make everyone in the room feel welcome, comfortable and accommodated.

You do this by following some basic, straightforward rules. Rule number one – as you enter a room, you must enter a circle of communication or start your own. Within this circle of communication, not only do you introduce yourself, you insure that everyone within the group has been introduced to the others within the circle. It is your job to do so as a host or hostess. As others pass by your circle of communication, take a small step back and open the walls of this group. You will bring others into this circle; do not forget to introduce them to the group.

When doing introductions, be clever and friendly. Use first and last names; for example, “John Smith of Smith’s Speedy Deliver, I would like you to meet Bob Jones of Jone’s Porta Potties. It looks like you both deal with emergency situations on a daily basis. You should have a lot to talk about.” Gently touch the arm of the person you are introducing. This will remind them to pay attention as well as help to create a more intimate relationship between the two of you. Don’t be concerned if your circle of communication becomes large. It only serves to create more conversation and have the others in the room want to enter, too. However, you do not stop at this successful group of networkers. You move on to others in the room and repeat this success. How else will everyone get to know how gracious you are as a person?

Rule number two – don’t be scared to touch. There is a huge difference between grabbing and gently steering. Gentlemen, offer your arm to a woman and escort her over to a group for networking. Women, take the hand or arm of a gentleman and steer him over to other attendees. Remember, you are the host. It is your job to introduce everyone in the room. You do this in an appropriate manner that is gentle and non-sexual in any fashion. Use your very best manners and show some poise. You can never go wrong if you consistently remind yourself of this. Be sure to let them know why and where you are guiding them. For example, “John, you need to meet Robert Smith of Successful Bank. He is very well connected within the business community and I know he will be a good contact for you.” Then take his arm or hand and transport him to his destiny of success and good contacts.

Rule number three – it is not your job to find out who can benefit by doing business with you at each contact. It is your job to offer your assistance to whomever you meet. There is nothing more offensive or unproductive than someone who attempts to make a sale with every contact they make. Do not approach others and say who you are, what you do and start listing all the ways you can change their lives. I promise you that you will be tuned out almost immediately. Those people will avoid you and not want to use your services in the future because you have been labeled a “wear out.” A “wear out” is a person who wears you down by going on and on about how awesome they are. Face it, people want you to know how amazing their business is. That is the bottom line.

What is the happy medium for rule number three? Again, good manners come into play. After exchanging introductions, it is your job to offer assistance to them in the future. You will have a brief introduction prepared that you use consistently, that sets you apart from others. After that introduction, you need to refrain from taking over the conversation. Your job is to stimulate but not dominate the conversation. Shake their hand. Make it a good firm handshake with two or three pumps. If it is in a noisy or crowded area, I suggest cupping the hand to insure a greater intimacy. Do a side cupping with your hand to prevent that “trapped” feeling for the recipient. Exchange business cards. Let the other person know that your only job is to help them be successful. Tune in to what their business is about and offer to help. For example, “Debra, it sounds like you’ve got an amazing talent for organizing, I come across others who need help organizing their files and offices on a weekly basis, may I share these leads with you in the future?” Do not ask for leads in return. The leads will happen in the future for several reasons. The main reason being that you will continue to keep in contact with everyone you’ve met this evening by personal notes, newsletters and emails. You are, again, exercising good manners.

About Small Business Survival

The most important thing today’s small businesses can do is expose their organizations to critical self-analysis. Small businesses survive not by competing head-on with global corporations, but by pursuing the market niches larger operators ignore. Such a strategy requires constant attention to detail, necessitating self-analysis well beyond the operational level; it is crucial that everything from the basic business model down to the operation of the mailroom is subject to rigorous study. This means determining what, precisely, the business is aiming to offer its customers, how this differentiates it from its competitors, and how well it is delivering on these core products and services.

Much of this analysis can be readily conducted by the business itself, but a substantial part of a company’s success is down to perception – how customers (existing or potential) view its products, services and overall performance. However, determining such perceptions is notoriously difficult for companies that typically lack personnel trained in the specifics of marketing, public relations and advertising.

The most obvious alternative, turning to outside experts – dedicated market research companies, for example – is often impossible when money is tight and budgets small, but this does not mean entrepreneurs can ignore the example set by the most successful corporations. What almost all business success stories have in common is a relentless commitment to factors that reinforce competitive advantage: product research and development; marketing, advertising and public relations activities; and customer relations.

What the most successful companies have recognized is that survival hinges on two separate, yet intertwined factors – being the best, and being recognized as being the best.

Being the best requires a commitment to excellence in all areas. That means small business leaders cannot shy away from hard decisions, where employment is concerned for example. Staff that consistently fail to perform must be replaced with those that will. The smaller the company, the more difficult such actions may be to take, but they are essential. Similarly, leaders need to ensure they have staff who are prepared to do what it takes to deliver results, no matter if that means asking for a commitment from staff far greater than business rivals demand of their employees.
Being the best also requires a company to recognize when it is lacking in excellence in key areas, and to identify whether that excellence can be delivered through hiring new employees, retraining existing staff, or seeking outside counsel. Money invested in improving core business competencies is never better spent than in tough times like today, because it directly impacts productivity, sales, and perceptions.

Making sure a company is recognized as being the best is often seen by small business entrepreneurs as secondary in importance to “real” issues such as production, distribution and sales. The common viewpoint is that if the product is “right” the customers will buy it. Yet it is precisely this attitude that dooms many businesses, regardless of the quality of their products or services. Small businesses need to give as much attention to their public relations, marketing and advertising strategies as large corporations.

Many entrepreneurs cry that this is simply beyond their means – they cannot contemplate spending tens of thousands of dollars on “fancy” market analyses from specialized researchers. The argument is valid, but consider this: if marketing, advertising and public relations dollars are in short supply, how critical is it that those dollars are well spent? A small business can far less afford just one marketing effort to miss its target than can a huge international corporation.

What small businesses must do is learn the core skills marketing experts take for granted. They need to take every opportunity to speak to customers, potential customers and vendors to uncover how well the company is perceived. Likewise, a simple analysis of publicly available materials (such as census data) can help a small business better identify key target markets, reducing the waste of valuable resources inherent in blindly blanketing an area with its advertising. Such an analysis might lack the sophistication of a professional market analysis, but it can make the difference between success and failure – and there is nothing to stop the company utilizing a more professional analysis in the future when it is growing strongly.

It comes back to the issue of self-analysis. If a company has a clear vision of where it wants to go, the task of identifying its market, and the optimal ways to attack that target, is much easier. This allows for a concentration of limited resources where they can best help deliver success. Such a focus of effort lies at the heart of corporate survival, no matter if the company is large or small.

Find a Hard Working Virtual Assistant

We are here to help you, even if you are away, we are the one who is reliable to work for your company. We are known as a virtual assistant.

Do you know why we are called virtual assistant? It is because we can work from time to time with or without supervision. We construct good communication with our clients and very resourceful by all means. We do our job from Monday through Friday. We can handle your business and manage it in time for you.

All through your hectic schedule, we can manage to reschedule at your most convenient time so that you can build good transaction to your partners with smile, modesty, and trust. Building a good rapport with our partner like you, we will develop self-confidence to work with you. I am proud to say that we, virtual assistant personnel are loaded with skills and talents that you will be satisfied with our services. If you don`t have time to answer your emails; we will do it for you so that your business transactions will flow smoothly, and that new clients and offers will go your way.

Being a virtual assistant, we can assure you, that all your documents are kept safe with confidentiality, because we value our client as a diamond that is precious to us, always well protected.

All of your business transactions, travel, calls are handled and arranged in such a way that will be finish during the scheduled time. Accounting jobs like bookkeeping and recording can be done outright the moment needed data collected so that renewal of licenses and taxes be a process in to avoid any penalties that might happen.

Being a Virtual assistant, we check all the task assigned to us to be of good quality. We are willing to take the challenge in every angle of activity that the clients given and also can approach all interactions. Most essential is that we have strong internet connections inside our home because if our tasks are very important and need some documents rush anytime, we can help our client’s immediately connecting to our job.

If you need some survey of a certain product, you can tap us to do it because we will do the survey and conduct it without bothering you. Just give us your data and product that you want us to conduct, and we will do it for you at your most convenient time as well. If you discovered something new and you want to have a concrete result, we can research that particular product and give you all the result incurred. In this process, we are both learning.