LinkedIn Series Part 1: Setting Up Your Small Business Presence

The core of your LinkedIn success comes from your profile. Without a reputable and social media buttonstrong presence, it is virtually impossible to gain real traction on the website. But where do you start? Your company’s LinkedIn page will be different from any other social media outlet, and your personal and company profiles require different approaches.

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Making Sense of a Personal Guarantee

underwriterIf you’re in the process of applying for a bank loan for your small business, you may have been asked by your lender to make a personal guarantee for your loan. While making a personal guarantee can help you qualify for the loan or even get a better interest rate, there are a multitude of risks involved.

Just what is a personal guarantee, and how do you know whether it’s the right choice for your business financing needs?

Let’s break down what you need to know before making a personal guarantee for your small business loan. Continue reading

Should You Hire A Social Media Pro?

touchscreen interfaceSocial media has become a critical aspect of every successful business. It allows a more direct and casual form of interaction with customers and enables real-time updates on products, information and services. Social media outlets like Facebook, Twitter and Instagram aren’t just something we do on occasion; they’re woven into the very fabric of our lives.

Social media can make or break a business, especially one that’s just starting out. By now, nearly every business entity has a position that is responsible for social media management. And while you may wonder who will be a good fit for such a position, there’s another question you may want to ask yourself: should I hire someone in-house, or should I look for a social media pro?

There are many things to consider when deciding who will handle social media duties for your company. Let’s take a look at the pros and cons of both options. Continue reading

MyCorp FAQs: Does my Online Business Have to Collect Sales Tax?

All businesses pay a federal income tax, whether its as its own entity or through the income tax of the owner. But, sales tax is a completely different story. Sales tax is determined by each individual state and the requirements for multiple state businesses are often complicated. sales taxThose requirements get further complex when you are an online business as you may not have any physical presence in the state itself. Whether or not your online business has to pay sales tax all depends on the states’ definition of one word: nexus.

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Experts Weigh In: What do you look for in a vacation spot?

SONY DSCOwning a small business is exhausting. Ask any entrepreneur and they’ll tell you that the CEO never really gets a “day off,” but it’s still nice to get away every now and then. We asked our small business experts what they look for in a vacation spot. From the fastest WIFI available to fine dining, here’s what they had to say… Continue reading

How to Successfully Start Your Own Business in 6 Steps

Come_In_Were_OpenAccording to Bloomberg, 8 out of 10 new small businesses will fail within the first 18 months. In other words, it’s not easy being your own boss. To make it as a company involves planning, making sound financial decisions and carrying out what seems to be an endless list of legal activities.

Of course, that’s just the beginning. Even after all your paperwork has been completed and you’ve given the first down payment to secure that business location you had your eye on; there are other things you need to figure out: Will you limit your online presence to a “simple” website or will you have some sort of social media presence? Will you buy a phone system or settle for a softphone? Will you hire any remote workers or you plan to keep your staff local?

Here are the key obstacles an entrepreneur must overcome to successfully start a new business: Continue reading

6 Tips That Will Help You Come Up With a Great Business Budget

income taxAs an entrepreneur starting out in business, you might know a lot of things about how to penetrate your market, but you can’t know everything. One of the areas that most start up business people find themselves lacking is in bookkeeping.

Budgeting is an aspect of bookkeeping that most people think comes naturally, but it doesn’t. Even though you are very good at maintaining a healthy personal budget, when it comes to a business, the principles change.

With a little training, though, you can learn tips that will get you started in creating a good business budget. Continue reading

MyCorp FAQs: How Do I Know the Value of My Business?

If you have ever watched the TV show, Shark Tank, you know just how aloof business estimated tax paymentevaluations can be. The mere fact that a valuation can be negotiated shows just how much subjectivity business evaluations hold. But regardless of how you come up with the number, the valuation of your business is vital. The value of your business can help you determine your company’s financial and competitive standing. For larger public corporations, a valuation is typically created through the stock price. What about private corporations? There are three easy ways to find the value of your business regardless of size.

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8 Effective Tools for Powerful Social Media

Social media signsAs of last year, 72% of all internet users are now active on social media. Though, if you’re taking full advantage of each and every social platform you can get your hands on, , it can become difficult to monitor and stay on top of your entire social presence.

If you’re feeling overwhelmed keeping all of your social channels up-to-date, these 8 social tools may be able to help you out:  Continue reading

6 Surprising Secrets to Startup Success

Idea_Thinking_Woman2Let’s imagine you’re finally getting off that couch and building that company you’ve always dreamed of. One that sells non-embarrassing gym clothing to people who desperately need the gym. (Like me. Probably you too.) You’ve been smart about this and wasted no time in setting up a great looking DIY website. You have a couple of co-founders who share your passion for gym wear (and loathing for exercise). You even have a small seed fund that helps you get the basics in place – a small office, suppliers, a few employees, the works.

So you’re all set to beat the Lululemons of the world?

Maybe not. Because, as every entrepreneur knows, a successful startup is not about getting all the pieces of a puzzle together. It’s about getting all those disparate pieces to work together in a creative yet efficient manner. Continue reading