The Small Business Blog

The Growth of Mobile Commerce

Chris — Thu, 09 Jul 2009 09:00:04 PDT

Practical eCommerce has an Article Posted that presents a good overview of the growing trends in mobile commerce:

In the evolution of modern shopping, consumers have very recently progressed from visiting a physical store every time they wanted to buy something to shopping online via a desktop or laptop computer, at least some of the time. The next evolutionary step will presumably have shoppers making more purchases online from mobile devices.

Of course, to take advantage of these new opportunites you will need to Start a Company and will need to Build a Website. MyNewCompany.com is your one-stop resource for getting your company set up properly so that it is ready to start making money for you!

Maintaining Your LLC Liability Protection

Chris — Thu, 02 Jul 2009 08:40:58 PDT

BusinessWeek has an Article Posted on who is responsible for settling an LLC’s debts after a Dissolution:

Creditors of a valid LLC can collect only from the assets of the company, not personal assets or wages, and garnishments cannot be used against wages unless a money judgment has been awarded in court.

However, this is contingent on the LLC having been properly maintained:

Unfortunately, it’s also possible that you took some action while your company was in business that removed the protection of your LLC, such as signing a personal guarantee with the landlord or mingling personal and company funds.

Fortunately for MyNewCompany.com clients, our LLC Formation Packages include access to the “New LLC Handbook”, which tells you everything you need to know about running your LLC properly so that you can maintain your Liability Protection.

Small Business Websites

Chris — Thu, 25 Jun 2009 08:41:57 PDT

Business Know-How has an Article Posted with helpful hints for launching a new website or redesigning an existing site:

Whether you want a small site with just a few pages of text or something a lot more complex, you can keep costs down and get your website up and running much more quickly by defining the purpose and scope of the project before you look for a web developer. Answering the questions that follow will help you accomplish that first, critical step in your website project.

MyNewCompany.com clients can get a web site and Domain Registration at the same time HERE

Taking the Hassle Out of Startups

Chris — Thu, 18 Jun 2009 10:43:41 PDT

The Washington Post’s Business Page has an Article Posted on how confusing licensing and certification can be when starting a new business:

Aside from questions about loans, grants, and generally getting started in small business, one of the most commonly asked questions on the Small Business Administration (SBA) Web site is “How do I get a business license?”

One of the many benefits of using MyNewCompany.com’s Formation Services is that all our clients receive access to a Startup Checklist specific to their state which includes built-in links to all the applicable state and federal agencies and step-by-step instructions on how to properly set up your new business!

Book Recommendation: Work the System

Matt — Mon, 15 Jun 2009 03:38:03 PDT

As many of our readers know, we’re obsessed with small business owners “automating” their business so they can focus on more important aspects of their business. The book, Work the System: The Simple Mechanics of Making More and Working Less is a great example of a book that shows you how to do it step-by-step.

The author, Sam Carpenter, shows how he went from 100 hour weeks to only 2 hour weeks while increasing his income 20 fold. Pretty impressive stuff and is a great companion to our other highly recommended book, The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It.

Either way, the lesson is that a small business should copy the successful strategies that make franchises much more likely to succeed: documenting and creating procedures for all aspects of your business.

Small Business and Local Online Advertising

Chris — Thu, 11 Jun 2009 08:23:03 PDT

SmallBizTrends has an Article Posted on local pay-per-click ad campaigns and small business:

A new study from Borrell Associates found that 90 percent of small business owners quit their local paid search campaigns within 6 months of starting, saying they are unhappy with the results and can no longer justify the costs.

More accurately, according to the study, up to 50 percent of SMBs will quit their paid local campaigns within 90 days of starting, while another 40 percent will join them by the 6 month mark.

The article has helpful hints for building an effective local online advertising campaign. Online advertising is just one facet of maintaining an effective Marketing Strategy.

Lessons Learned from Bootstrapping

Chris — Thu, 04 Jun 2009 08:40:05 PDT

Small Business Trends has an Article by Tim Berry on the lessons learned after 22 years of bootstrapping:

Last week a group of students interviewed me, as part of a class project, looking for secrets and keys to success. They were asking me because after 22 years of bootstrapping, my wife Vange and I own a business that has 45 employees now, multimillion dollar sales, market leadership in its segment, no outside investors, and no debt. And a second generation is running it now.

Bootstrapping (self-funding your startup) is just one method of Finding the Money to start your new venture. Of course, it always helpful to have a good Business Plan before looking for funding.

Entity Selection Hints for Tax Benefits

Chris — Thu, 28 May 2009 08:03:45 PDT

BusinessWeek has an Article Posted with helpful information regarding the tax implications of choosing S-Corporation or C-Corporation status when forming a new company:

The debate on proposed tax rate increases for the country’s wealthiest people has just begun, and the potential increases would not happen until 2011. Still, tax experts say it is not too early for small business owners to think about defensive strategies. Whether they’re contemplating moving from S-corporation to C-corporation status, accelerating income, or deferring compensation, their decisions should be thought through in the larger context of their business and personal goals, says Lester Law, senior vice president at U.S. Trust’s National Wealth Strategies Group(BAC), in Naples, Fla.

MyNewCompany.com can form a DBA, an S-Corporation, a C-Corporation or an LLC for you using our Company Formation Service. Many of our clients will consult with their tax advisor (CPA, Bookkeeper, etc.) to see which entity type will give them the maximum tax benefits for their individual tax situation before having us form their company. To see the benefits of using our Formation Service instead of an attorney or other filing service you can visit our page “Compare Us to the Competition”.

Perfect Time for Start-Ups!

Chris — Thu, 21 May 2009 08:56:37 PDT

Small Business Trends has an Article Posted on why now is the perfect time to start a new small business:

It may not seem so smart to start a business in a down economy, but according to Tim, this is actually the best time to do it. Costs are lower, you can get better talent for less, and people are a lot more receptive to entrepreneurs because of the fragile state of things. And don’t tell anyone, but the economy is actually looking up. (Switch that. Tell everyone you know. We need good news.). But even if it wasn’t, starting a business “now” is almost always better than starting it “later”.

Once you take your new idea and turn it into a Business Plan you’re ready to go! MyNewCompany.com’s Formation Services will make starting your new business as easy and hassle-free as possible. Don’t forget to check out our Free Tools and Resources Page for useful information on the process of starting and managing your small business.

Online Tools For Business

Matt — Thu, 14 May 2009 16:19:20 PDT

Mashable has an enormous list of 270 online tools for businesses. The list includes tools for project management, marketing, invoicing, collaboration and more. Highly recommended.

MyNewCompany.com uses BaseCamp for project management and we highly recommend that as well – there’s a free plan and paid plans start as low as $12/month.