Autor: Cionut12

Pros and Cons of a Startup

If you’re thinking of starting your own business, based on your idea for a needed product or service, there are a few things you need to know before you dive into the pool.

The Pros

You own the idea You’re the Creative Director You retain all of the equity You can run your business as you please You keep 100% of the profits

The Cons

Your total upfront investment is unpredictable You don’t have a clue as to when you’ll break-even You can’t get a good handle on your expenses at first Your risk is big, because you don’t know if your idea will work You’ll be under tremendous pressure to make your business profitable

Benefits Business Line of Credit

As a business owner, you probably already know access to working capital is the lifeblood of a business. Alexander Graham Bell said, “before anything else, preparation is the key to success.” So, it’s essential to be proactive and ready to deal with any unforeseen expenses in order to keep the business afloat. One way you can accomplish this is to get a line of credit for your business. When it comes to business credit, there are various options to consider. A business line of credit is a preferred choice among small business owners for obvious reasons.

Two Important Facts About Home-Based Businesses

1. It’s easy to get distracted.
Take it from me (I run my business from home), there are lots of things vying for my attention on a daily basis. My point is this; if you want to work from home, you need to realize that there are always things to do around the house. Ask yourself if you’ll be disciplined enough to focus on your work and avoid the distractions that all home-based business owners face.

2. You may not be at home that much.

The fact is, there aren’t many home businesses (especially in the franchise world) that allow you to stay at home and do your work all day. Sure, you’ll be in your home office to do paperwork, client follow up and the like. But the fact is, you’re going to have to make sales. And most of the sales activity needs to be done face-to-face.

Resolution #1: Resolve to integrate your marketing.

Far too many small business segregate their marketing into siloes and don’t cross-promote within their various channels. Instead connect your marketing methods (search engine marketing, mobile, email, content, voice, direct mail, public relations, advertising, social media, etc.) with one another—all leading back to your business and/or your website.

Resolution # 2: Resolve to broaden your definition of content marketing.

Content marketing today goes beyond words. It includes infographics, podcasts, video, etc. Essentially, if it involves media, it’s content. Effective content marketing puts your customer’s needs first. As the Content Marketing Institute’s B2B report shows, 90% of the most successful content marketers put their audience’s information needs ahead of their own promotional messages.

Resolution #3: Resolve to increase your commitment to video marketing.

Search Engine Journal says, “With the popularity of YouTube, dynamic imagery, and AR, video content and visual storytelling will continue to rise in 2020. According to HubSpot, 56% of 25-34-year-olds and 54% of 35-44-year-olds want to see more video content from brands they support

Tax Strategies 

Negotiate everything for the sale of a sole proprietorship Sell a partnership interest Decide on a corporate sale of stock or assets Make an S election Use an installment sale Sell to employees Reinvest gain in an Opportunity Zone

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