The Right Business Structure? Starting a Sole Proprietorship

Starting a business requires you to complete a number of steps and make some key decisions. Though part of your overall plan, you’ll need to decide on a business structure, and obtain the necessary licenses and permits. In addition, determining which financing options will meet your short-term needs and long-term goals is crucial.

When you are starting a new business, one of the first decisions you must make is what kind of business you wish to start. The kind of business you choose depends largely on your personal assets, and when you make this decision it effects how your business will be viewed by the IRS and by investors. A popular option for first-time business owners is a sole proprietorship. There are both advantages and disadvantages to this type of business, so research all the different kinds before choosing the one that is best for you and your business situation.

Most businesses start as a sole proprietorship. This kind of company is owned only by you and run only by you, so you are responsible for all of the actions of the company. To the public, you are the company. Sole proprietorships work well for CPAs, freelance artists, craftsmen, and medical professionals who see no need in the future to expand their business to include more employees or to sell stocks to investors. Many sole proprietorship businesses are run from the home.

In starting a small business you should never think you can do it alone! One of the best ways to insulate yourself against business failure is to find and work with a mentor, someone with business experience who can guide and assist you.

A good resource is the Service Corps Of Retired Executives (SCORE) which can link you to retired professionals who are available to give you advice.

The advantages to starting a sole proprietorship are great. First, there is less start-up cost, and it is very possible that you will not need a business loan from a financial institution to begin. In many cases you are taking a hobby and selling the service or resulting product. In this case, you probably have everything you need already to get started and simply need to find advertising for your new business. Secondly, you are 100% your own boss. You get to make all of the business decisions and you take home all of the business’s profits at the end of the day. Because of this, it is easy to reinvest that money back into the company to help it grow. Taxes become simple for a sole proprietorship business, since they are easily done on the owner’s personal tax return, and, if the business unfortunately fails or you lose interest, it can be easily dissolved without affecting other employees or investors.

However, sole proprietorships have a number of disadvantages as well. Because you are using your own money to start the business, you will lose it all if your business fails. You will be legally responsible for the actions of your business, and if you take out loans, you must pay them back regardless of how the business succeeds or fails. Loans, however, may be difficult to get in the first place since you have only your personal assets on which to rely. Lastly, it is possible to have employees or to outsource some of your business, but until your company has been in operation for a few years and has proven itself stable, you may have trouble attracting other workers, who see the business as a risk. Employee benefits for yourself and others are also more expensive in this case.

Before you choose the type of business you want to start, remember that you ultimately need the best kind for your company. Look at the disadvantages and advantages of sole proprietorships to find out if it is right for you.

About Forex Investing

There are 3 types of Forex investing, which are long term, mid term and also short term. Long term forex trading is also called as position trading while swing trading refers to mid term investing and lastly day trading for short term investing (the most risky).

Short term Forex investing is not appropriate or advisable for practiced investors. The key to long term investing is by learning how to keep pace with the long term trend. You might lose a large amount of money if you chose the wrong trend. Forex investing gives the best result for those who have done their homework.

Nevertheless, this market can too be ideal for short term investing. Some traders invest using short term investment, and yet they managed to climb up to the top. And that is the reason why when short term investors have a considerable experience, they are able to proceed to long term investments. Anyway, as long as it is an investment, it does not really matter on what type of trading style you are using.

Forex investing is done by various methods. One of them is to make your own trading decisions. Besides that, do consider trading as a group too. This is because the group members will help one another on how to trade at times, rather than depending on oneself and messing the whole thing up. Other than that, you can try having both ways, get a group that is able to help you to invest and then you will place your own trade individually. Soon, you will learn to be independent as experience gives you more confidence.

The forex market is known as a serious market globally. It is not something that you could make fun of as it involves a lot of money. Take it seriously if you are investing in it.

7 Reasons Why 99% Of Online Businesses Fail

This document is of incalculable value. It will help you to UNDERSTAND why 99% of the people who undertake a business on the Internet FAIL. This document has been issued by a team of experts whom together have more than 10 years of experience in the industry. I recommend you to read it and study it and you’ll avoid committing the mistakes we made:

7 reasons why 99% of Online Businesses FAIL

1. Unreal expectations. (Thinking you will become millionaires within one month).

This is the main reason why the rate of failures is so high. It is true that the websites that promise an astronomical amount of money in a short period of time are to blame. Many times we are tempted by eye-catching statements like: “Make $2,000 per day starting today (with no experience)” and that obviously NEVER, EVER happens.

We have to learn to separate things. There’s nothing wrong in the following sentence; “You could earn a lot of money on the Internet”, but all in due course. It is almost impossible to become a millionaire in one year, and even less in one month.

You have to bear in mind that a business on the Internet is very similar to a traditional business. You have to be humble and modest to start off. If someone tells you that you will earn large amounts of money in 4 days, run terrified. That may be a scam.

2. Patience & Commitment

I could have named these two requirements separately, but I believe you, the reader, will appreciate if I do it in this way in order not to sound too redundant.

You have to reach a certain level of commitment with your business. Be aware that you will have to dedicate time, at least 6 months, if you want to make a profit. Patience is also a decisive factor… according to my experience, it is almost as important as the know-how.

Why do things, if we don’t take our time to do them properly?

3. The product/Company

You can buy and sell everything on the Internet. All you need to do is to look at the portal http://www.ebay.com and see it for yourself. Businesses, and/or the business opportunities are also for sale. According to a recent study, every 11 seconds a business is launched on the Internet. Almost 8.000 businesses are created every day on the Internet (only in USA)!

You have to know how to choose in order to avoid becoming a victim of fraud. Please always consider the following before purchasing a business opportunity:

o The Company should have a street address and visible telephone number.

o It should have a product which is easy to understand and assimilate. Many of these business opportunities promise you a large amount of money only if you invest a certain amount, but it remains unclear what you are actually buying for such amount. Make sure you know where your investment goes.

o What are the advantages of the main product? In which ways is different than the competitor’s? Is it a unique product, or is it only a collection of e-books that you can easily acquire in other places (and for free)?

o If we talk about a business opportunity like MLM or Marketing Network, are there any testimonials? How much money are they making? And how much money is your sponsor earning?

Make sure you join a winning team. It is of vital importance that your team supports and educates you on this new adventure.

4. Lack of investment

Most likely, many could now feel uncertain (the word “investment” has these effects) thinking that you have to invest millions. No worries, no large investments need to be made, but you do need to realise that your business on the Internet, just like a traditional business, will need a small investment to get on its feet.

You have many possibilities at your disposal. As in a Clint Eastwood film, the internet is also filled with the good, the bad and the ugly. Trust me, if you launch your online business, you will get to know all three… Either way, you have to invest in your business. Move away from everything you see with the word “Free”. There is no free method for promotion on Internet, well, actually there is, the “mouth to mouth method” and “Marketing Viral” but this only works once your business is established and has a high number of clients.

5. Traffic.

The Internet traffic is known as the inflow of users to our site. There is an erroneous concept, very common amongst all the Internet beginners, who believe that as soon as they publish a webpage, we’ll receive a flood of users wanting to visit our site. Unfortunately, it doesn’t work like that. It is estimated that there are one thousand million pages on Internet. Yours is only one of them. It’s a big, big world out there.

How is the traffic generated? There are plenty of ways, paying or not paying … I want to repeat what I said earlier, free advertising DOES NOT WORK.

6. Guarantees.

Do you want your investment to be guaranteed? If you find a business opportunity that guarantees a minimum income, there’s a red flag there. You may be set up for a scam or fraud. In business, there are ALWAYS risks. No business is “sort out assured”. It is obvious that there are some riskier than others, but all (I underline this once again) in ALL businesses there’s always an element of risk. Have that in mind.

7. Reinvestment and recycling

If you keep in mind all what has been said up till now, the possibility of making your business profitable is high. This is the dream of everyone who starts a business on Internet; when we receive that first email or notification (you have made your first sale), the heart starts beating really fast, your hands sweat, you can feel the blood running through your veins… If you generate profits, you should reinvest part of this money in order to generate even more profits. YOU SHOULD NEVER AIM FOR LESS… if something works, keep on doing it.

Keep your eyes open for other opportunities. Is strongly recommended that you don’t rely on just one stream of income, look for more business opportunities and diversify your income sources.

That’s it. Now print this document and use it whenever you wish. If you allow me, I will give you a few advices to finish off.

If you are looking for “fast” money (by fast money we assume that you need a large amount of money in a month), we recommend that you buy the lottery, go to the casino, play bingo… but DO not open an Internet business. We don’t want to discourage you, but those who believe that an Internet business can generate lots of money in a short period of time.

On the other hand, despite what I’ve mentioned in the previous paragraph, if you are a person who is looking for a serious business and an extra income source and is willing to do what’s necessary to succeed, Internet is an infinitive source of opportunities.

The people responsible for this document found their main source of income on the Internet and recommend you, the upright and serious user, if you wish to start a business on Internet, act now.