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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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

MyCorp FAQs: What are Some Common Business Name Mistakes to Avoid?

One of the first steps to creating your own business is picking your name. You can LogoGardenPhotochange your name in the future, but almost every entrepreneur is set on getting it right the first time. Maintaining your business name can significantly help your brand consistency. Whether it’s your first business or one of many, you’ve probably spent a bit of time thinking of the perfect name, and have inevitably asked – what some common business name mistakes to avoid during this important choice? Continue reading

Experts Weigh In: How have you responded to Google’s algorithm change?

touchscreen interfaceIt’s no surprise that over 60 percent of all searches are now happening on mobile devices. To keep up with the times, Google has recently made changes to its search algorithm causing sites with mobile friendly experiences to be ranked higher when searched. MyCorporation recently debuted our new site to comply with the Google’s announcement and to create a more user-friendly experience. We asked our small business experts what their thoughts are on Google’s algorithm change, and how they’ve been adjusting…  Continue reading

Why a Tax Lien Will Harm Your Chances of Finding Funding

Stick_Out_Tounge_at_PhoneHave you ever wondered what happens if you don’t pay your business taxes in full (and on time)? For starters, you will receive a Demand for Payment notice from the IRS. After receiving this, you have 10 days to either pay the tax debt in full (that includes any fees you’ve incurred), or make arrangements to pay it over time. Continue reading

MyCorp FAQs: What is the MyCorporation Process?

Do you ever sit at your table in a restaurant and think about how your food got there? Why Knowing When to Step Back from Your Business is One of the Most Important Entrepreneurial Skills of AllYou probably wonder where the food came from and how it was prepared. As consumers, we love to know what are products have gone through to get to the final stages. Have you wondered what happens after you submit an order with MyCorporation? There are four key steps that occur to turn a phone call into a full legal filling.   Continue reading

Debunking the Myth of the Young Successful Entrepreneur

customerIt is always hard to dispute cold facts, especially when all odds are stacked against you. In business, this is even more pertinent because you are investing your hard earned money and you need to leverage numbers to evaluate your rate of success.

The Glaring Numbers

If you are a budding entrepreneur, the issue of age is one you can’t ignore. Take for instance some contemporary billionaires; Facebook’s Mark Zuckerberg started off at only 18 years, Google’s Larry Page and Sergey Brin were 23 years and Bill Gates was only 20 years when he set out to revolutionizing the computing world. Continue reading

MyCorp FAQs: How can I keep track of all my documents?

publishing industryBecoming a small business owner involves a lot of paperwork. And even when you’ve gotten through the paperwork to start your business, it doesn’t ever let up. Yes, the life of an entrepreneur is forever plagued by paperwork. That being the case, it can be pretty easy to become disorganized with all those papers. Customers often misplace copies of their documents and need to re order corporate records, costing them time and money.  Continue reading

6 Things I wish I’d Known Before Starting my own Business

Couple standing in front of organic food store smilingStarting your own business is hard. I knew that going in, but I didn’t know just how tough the first few months were going to be. The initial setting-up jobs – the phones, the internet, the space (my living room) were simple enough, but it was when the actual work started that things began to unravel. With hindsight, there were things I wish I’d known before I started which may have helped the business settle down and begin to succeed more quickly.

I wish I’d known… Continue reading