50 States of Incorporation: Tennessee

incorporate in tennesseeHome to the late, great Elvis Presley and The Great Smoky Mountains, this week we’re taking a look at what it means to incorporate in Tennessee.

If you’re planning to start a business in the agriculture, manufacturing, or tourism industries, Tennessee might just be the place for you! You have the Great Smoky Mountains to thank for that – being one of the nation’s most visited national parks makes Tennessee a great spot for all things tourism. Companies including Ruby Tuesday, Saturn Corporation, and Eastman Chemical Company all call the state home to their headquarters as well.

Forbes has the state ranked at 15 out of their best states for business list, noted for its excellence in having a pro-business regulatory climate. Thumbtack.com also has Tennessee ranked with a positive B+. The state scored high in ease of starting a business, hiring and regulations, health and safety, employment, tax code, licensing, environmental, zoning, and networking. With grades like that, Tennessee passes with flying colors!

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My Business Vision Coming to Life

My Business Vision Coming to LifeWhen my business partner and I started Guidant Financial back in 2003, we said we wanted to change the way people view retirement investing. Over a decade later, I believe we were a driving force behind the way self-directed IRA investing (or at least the marketplace) developed.

In August, we sold our real estate IRA (or more specifically, our self-directed IRA business unit) because our vision has changed drastically over the past five years. Up until that point we had helped thousands of entrepreneurs deploy billions into small business and franchising through rollovers for business startups, SBA loans and more. And, we want to double our efforts in small business so our broader vision has become to increase the number of entrepreneurs who succeed in small business. We’re approaching it in a number of ways:

  1. Our company culture. We’ve built a strong team of passionate employees who embrace the vision of helping entrepreneurs. So much so that some of them have even made the jump themselves. In fact, one of our former employees used our services to purchase an existing business and left his role in our company to pursue it. We were okay with that!
  2. Our presence in the alternative financing marketplace. We’re the leader in rollovers as business startups (ROBS) and undoubtedly the driving force behind the arrangements maturation. I liken it to HELOCs. In the ‘90s, people said “never risk your home to buy a business,” and then it became one of the most common ways people bought them. We brought ROBS to the masses and look at what we’ve done! Over 8500 clients have used our services, $3 billion in retirement funds have been invested and 60,000 U.S. jobs have been created by the businesses our clients have started.
  3. Our additional financing services. There are many ways to finance a small business and we work with entrepreneurs to determine how and where they can access the capital they need. Our programs include, but are not limited to, SBA loans, unsecured credit, rollovers for business startups, merchant cash advances, equipment leasing, and asset-based loans.
  4. Our ability and desire to expand. Really, we’re just getting started. As the leader of retirement fund financing, we’ve grown (and will continue to) into a full suite firm that offers more products and services. Put simply: We want to make entrepreneurs lives easier.

It’s exciting to start a business, full of ideas and dreams for what could be. It’s intoxicating to arrive at a place that far surpasses that vision, and realize that there is so much more to do.

David Nilssen is the CEO & Co-Founder of Guidant Financial. Read more tips about becoming a successful entrepreneur in his book, Making the Jump into Small Business Ownership. He can be found on Twitter at @DavidNilssen. The advice in this column should not be considered legal tax advice. 

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Celebrate Earth Day with Mycorp’s Best Posts on Benefit Corporations!

Happy Earth Day everyone! This year marks the 44th annual celebration of Earth Day, and we’ve all made a lot of progress towards becoming more environmentally friendly. In fact, according to Reader’s Digest, 1 out of every 3.3 Americans considers themselves environmentally conscious, and 1 out of every 2.3 Americans recycle. Benefit Corporation Though some have considered the environmental movement to be just a fad, it is clear that many more of us are concerned with the impact we have on the environment.

With the arrival and recognition of Benefit Corporations, even corporate law is changing to accommodate our growing environmental and social consciousness! Benefit Corporations are for-profit companies that wish to pursue a social and environmental mission, even if that mission cuts into their profit. We here at MyCorp are huge fans of B-Corporations, and to celebrate Earth Day we thought it’d be fun to take a look back at some of our blog’s most interesting, and informative, Benefit Corporation-related posts.

  • Never heard of a Benefit Corporation? MyCorp released a handy infographic to help explain the background of Benefit Corporations, and why they are such an important new entity.
  • If you’re looking for creative ways to further your environmental mission, our guest blogger Kristina Jackson was kind enough to give us her 7 tips on how to further your green agenda through social media.
  • Trying to figure out if your business can go green? Check out this post by guest writer Clint Robertson on the 6 unlikely industries entrepreneurs can go green in!
  • If a Benefit Corporation sounds like something you are interested in, we can help get you get it set up and running. Our CEO Deborah Sweeney even wrote a post on how to run a Benefit Corporation!
  • Even if you’re not ready to commit to running a Benefit Corporation, you can still work to do your part and reduce your impact on the environment. Our guest blogger Kandace Heller recommended six ways you can reduce your business’s waste.

Have any questions about Benefit Corporations? Thinking about forming your own? Leave a comment below, or give us a call at 1-877-692-6772, and we’ll be happy to help you out!

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Six Ways to Reduce Waste in the Workplace

Six Ways to Reduce Waste in the WorkplaceIn recent years, large corporations are becoming more aware of the dwindling natural resources and are doing their part to conserve energy and reduce the amount of waste they produce. Intel has become the largest purchaser of green power in the United States are the company has greatly reduced the amount of energy used to run the business. Other popular companies like Kohl’s deparment store and Starbucks coffee have followed suit. If you want your company to be part of this environmentally-conscious movement, then follow these six steps to reduce waste in the workplace.

1. Stop Printing So Much

One of the most wasteful things that many companies do is excessive printing of documents. Not only does this waste paper, but it also wastes a lot of energy and ink. If you want to take an instant step to reduce waste in your workplace, then encourage everyone in the office to transmit documents electronically whenever possible. Many people print documents, read over them, and immediately shred of recycle them. This is an unnecessary use of paper. Only print what you actually have to have in paper form.

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15 Essential Financial Planning Tips for Entrepreneurs

15 Essential Financial Planning Tips for EntrepreneursWhether you’re a new entrepreneur or an old hand, money occupies a prominent role in your business. Failing to get – and keep – your finances in order can doom your company or consulting practice in the long run. While each entrepreneur has their own set of unique financial challenges, there are several areas where nearly all entrepreneurs can draw from a general well of wisdom.

1. Pay yourself first, Uncle Sam second.

No doubt, you’ve heard the expression “pay yourself first.” That’s good advice for everyone. However, entrepreneurs must remember that with no employer-initiated tax deductions to count on, they must also make provisions to cover self-employment taxes.

2. Hire pros, but know what they’re doing.

You didn’t go into business to spend hours working on spreadsheets. That’s why you hired a Certified Public Accountant. However, you should still understand the basics of keeping the books, if for no other reason than to be able to answer your accountant’s questions at tax time.

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50 States of Incorporation: South Dakota

incorporate in south dakotaWhat does it mean to incorporate in South Dakota? For small businesses, the state offers an abundance of industries to get started in and plenty of sightseeing by way of national parks and monuments. The home to Mount Rushmore, Badlands National Park, and routes within the Lewis and Clark National Historic Trail, South Dakota is ranked by Forbes as #11 on the best states for business list.

The state’s biggest draw? Being #1 in the country for lowest business costs which are about 25% below the national average. Industries that perform well in South Dakota include retail, finance, healthcare, agriculture, tourism, and government spending. Ibp Hog Market Inc., Ellsworth Air Force Base, and Rapid City Regional Hospital round out the top three largest employers in the state, with anywhere between 4,000 to 4,800 employees. With additional low unemployment rates, it’s hardly any wonder that the state ranks as #6 in the nation for its economic climate.

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FREE Incorporation or LLC Formation! Today Only!*

If it’s April 15th, it must be Tax Day. Not exactly the most exciting day on the calendar. But what if we told you that, for today only, we would help you form your own LLC or incorporate FOR FREE!

incorporate for free

Today marks MyCorporation’s third year running offering new entrepreneurs the chance to form an LLC or incorporate for free! All you have to do is use the coupon code MYFREE at checkout, and you’ll get our basic $69 LLC or Corporate Formation package for free – all you have to pay are the state fees!

As many of you may know, incorporating your business or forming an LLC comes with plenty of benefits. Not only can the right business entity help you save on taxes, but incorporation and LLC formation both add an extra layer of protection to your personal and professional assets, and gives your business an added air of legitimacy.

Normally priced at $69, our basic bundle includes an incorporation or LLC with a name check, document preparation and filing, a free domain name, annual report and registered agent services, and QuickBooks Simple Start! So if you’ve ever thought about starting an LLC or corporation, now is your chance to form an LLC or incorporate for free!

Remember that the coupon code for the Free Day promotion is MYFREE. Visit MyCorporation.com between 12 AM PST to 11:59 PM PST on April 15th and get started by answering a few simple questions about your business. MyCorporation customer care representatives will also be available from 6 AM PST to 6 PM PST on April 15th. Just give us a call at 1 (877) 692-6772!

*’Free Day’ offer only redeemable on April 15th, 2014, between 12 AM PST and 11:59 PM PST. Offer is solely for MyCorporation’s Basic Incorporation or LLC formation package, normally priced at $69. One offer redeemable per customer. Customer retains responsibility for paying any applicable state and federal fees.

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Missing Leads? Tech Aids Can Help

Missing Leads? Tech Aids Can HelpOne of the most frustrating parts of small businesses is the knowledge that it’s nearly impossible to catch every lead. Anything from missing a phone call or an opportunity for easy sharing, to not catching what could be lucrative deals – or worse, losing business to a competitor – can have you scrambling for better customer service solutions.

Unfortunately, you can’t constantly be on the phone or online 24/7, so you’ll need a little help. That’s where tech aids, who can help turn your small business into a lead generating machine, enter the picture. Avoid missing lucrative deals and customer service opportunities by turning to net services and tech solutions to help you catch every lead that comes through.

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Thinking Outside of the “In” Box

marketingEach year, businesses all over the world push to find new ways of reaching new clients, making sales, and increasing revenue. While it appears that some marketing strategies have proven to be more effective than others, one thing is for certain: email will always be a part of any solid business marketing strategy, as it easily correlates to mass mailer marketing and other traditional business outreach methods.

However, because email is such a popular method used by nearly every industry, the positive effects begin to dwindle. Users who subscribe to e-newsletters and email marketing voluntarily will always be there, but those that businesses are attempting to reach for the first time have become numb to the mass mailing stimulus, and have learned to tune it out similar to the decreasing effectiveness of television commercials.

Fortunately, for businesses looking to reach out to new customers, part of the problem is also the ideal solution, and that comes in the form of social networking.

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