Small Business

Archive for November, 2009

I am a small business owner and have been developing my company for the past year. Because I left my previous job to start this business I do not have a current income and because my company only recently officially "opened for business" we do not have a profit line. Do I need to file? What about the business expenses that I incur?

Definitely keep track of your expenses. Most start-up expenses should be capitalized until operations begin. This means that you cannot deduct certain expenses until the date the business started, even if you paid them last year. Some expenses should be amortized over a period of time.

Business start-up costs are the expenses you incur before you actually begin business operations. Your business start-up costs will depend on the type of business you are starting. They may include costs for advertising, travel, surveys, and training. These costs are generally capital expenses.

You usually recover costs for a particular asset (such as machinery or office equipment) through depreciation (discussed next). You can elect to deduct up to $5,000 of business start-up costs and $5,000 of organizational costs paid or incurred after October 22, 2004. The $5,000 deduction is reduced by the amount your total start-up or organizational costs exceed $50,000. Any remaining cost must be amortized.

For more information about amortizing start-up and organizational costs, see chapter 9 in Publication 535.

I am 18 years old. I am taking up BS Business Administration maj. International Management. I want to have an online business.
I am good in designing things such as jewelries and other things. I want to enchance my talent too.

[ also I want to help my father who is supporting my studies]

Can you help me how to start a business through internet?

Please give me some suggestions and advices for this kind of business.

Thank you.

Yes, I can help…

I use a step-by-step approach and it works all the time. Here you go:

1) First validate the demand (FREE keyword tool):

Are there people searching for what you want to offer?
https://adwords.google.com/select/KeywordToolExternal

2) Build your website with this FREE tool:
http://www.officialsitebuilder.com/

3) Select a URL and setup Hosting (not FREE but darn cheap and reliable – something like $4 per month…):
http://www.officialsitebuilder.com/domain-checker.php

4) Drive traffic (not FREE but you cannot do without):
https://adwords.google.com/

5) FREE Online Business Creator:

(http://www.sandrosalsi.com/tools/online-business-creator.html)
This is a list of tools and resources I use myself to build and market my websites.

Highly recommended. Hope this helps…

I work for a smaller bank in California. Right now we are being asked to do our part to bring in new business accounts and offer existing customers our business enhancing services. I’m finding it difficult to think of ways to do this without seeming pushy, or too salesperson-like. Any suggestions? Thanks!

You didn’t state in your question whether or not you have direct contact with current bank clients such as in a teller capacity.

If that is the case, when a client comes in to make a deposit to a checking, savings, account, etc. you might let them know about other services the bank provides.

If the bank offers a brochure about their services, give them one.

My bank keeps track of folks who have rather large balances in checking account that are not earning as much as other services they may offer and flag those accounts so when the customer comes in it pops up on the computer that they may wish to speak with a personal banker.

You might also have some brochures with you when you are out and about and should an opportunity present itself hand it out.

Always try to deliver the best possible service to the customers you see – to them many times, the teller is the bank.

I am new to the internet and after having tried a few HYIP schemes and lost money I am looking for recomended ligitimate home-based internet business to join up with to earn some good money from and hopefully be financially free in future?

A top 10 list of opportunities would be nice but any ideas would be appreciated.

Simon H

Simon~

Here is your answer. Click the link below and follow the steps to view an online presentation about the Company, Business Opportunity, and Services. This company made 60 millioniares in the past 5 years, listed on the New York Stock Exchange, regulated by the FTC (federal trade commision) and the best part is they are still under the RADAR! If you like what you see, hit me back…I can help you get started.

This is the financial vehicle you have been looking for!

I currently am running my business out of my home rather than out of my office because I have a toddler and my husband’s business is really busy. I need to be home during the day to take care of my daughter in addition to doing all of the house work. What works better for other home business owners: designating a day or two to just getting most of the house work done and leaving the rest to do mostly business OR splitting nearly every day up between doing house work and business?
I’ve recently tried splitting an entire week’s worth of housework between 7 days and have a long to-do list for my business that I would pick tasks from but I would still get disorganized and am being too inefficent. I cannot have a specific hour to hour schedule because of my toddler, I need to be flexible. Any suggestions?

I have found that as far as housework goes, the best thing to do is schedule that in the morning. First thing I do is put the coffee on, and while it’s brewing I quickly dust the living room and run the vacuum through, then I tidy the kitchen. I sneak the bathroom in whenever I have a spare 15 minutes or so, but if I don’t do it one day, it’s not the end of the world.
I find that sometimes when I just need a little break from work, I actually enjoy throwing a load of laundry in or quickly cleaning something. I use that time to think of my next move in business. Some days, I’m running around with a rag while talking on the phone! Some days, no housework gets done at all, other than the basics.
When you have a little toddler, schedules get messed up, and that’s okay…that’s why you chose to work at home in the first place.
Once your business is running fairly smooth, you will find that the other stuff just falls into place.
You will find that you aren’t as productive at a certain time of day, you see a pattern, so then you start to use that time for other things like getting groceries, Dr’s appts and so on.
Don’t try to be SuperMom/Super Business Woman/ Super Wife/ Super House Maid, or you will burn yourself out.
Just prioritize, do what you can when you can, and enjoy working from home and raising your child.
Keep focused on your goals, re-visit your "Why" and your goals every day, and go after them!

I recently started a home based business promoting a healthy energy drink. I am having a lot of fun and really enjoy the business. It’s free to join and you get a website along with markting materials and training. I have a lot of people who have goten involved to. I am looking to expand. Does anyone know the best place to find people that would be interested in having their own home business? What about people that have experience with this being interested? I appreciate your help.

Congrats on your passion for your business venture. The best way to attract people to your business is through target marketing techniques. I would be happy to share more about this topic if you would like. I personally enjoy using the techniques taught through the Renegade System found at http://www.renegademlmtools.com

Best Regards!

I am considering franchising my coffee shop. What questions should I ask the agencies beside price and fees? I want to make sure I ask the right questions about how to franchise. Starting a franchise is a challenging proposition in todays economy. Just wanting to make sure I choose the right franchise start up company to assist me.
Great advice 27sqr. Good ideas.
I meant 27ysq good advice.

If I were you, I would first speak with people who are involved in franchising. Maybe go to a franchising expo and ask head offices of franchises what they think of those who helped them franchise their operations. You may be able to find out by asking some local franchisees who may own a few franchises about who their head office used. Just some thoughts.

Other than that, a q for a franchise consultant may be about saturation. Franchisers hate when a franchising head office places too many of their franchises so close that they cannibalize the area operation. Keep your franchisees happy by not stacking them so close that they all want out.