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Time To Startup!
Inspiration and Information for Starting Your Business

Archive for September, 2009

Business Owner’s Toolkit Premium Membership Unveiled: Big Services and High Value for Small Businesses

Posted on September 24th, 2009 by knathan
Category: Business Inspiration

It’s no secret that starting and running a business takes more than a healthy dose of moxie and ingenuity—you need forms, tools and a little guidance along the way doesn’t hurt—especially during these challenging economic times.

If you’re already a member of the Business Owner’s Toolkit, a site we sponsor and highly recommend, you know how valuable it is to have business resources online and ready to access whenever you need them.

But small business owners today need more than basic services. To compete with bigger businesses they need access to the same kinds of tools and services big companies utilize. The challenge is in being able to afford those services when you’re not a big company with deep pockets. The Business Owner’s Toolkit Premium Membership is designed to help small business owners meet that challenge.

Plain and simple, what the Premium Membership allows you to choose any three of the eight following business tools and services for only $39 a year.

  1. Business Book Library – Pick any three how-to business books on subjects including writing business plans, starting and growing your business and winning government contracts.
  2. Corporate Forms Library – Access 100 forms to help keep your business compliant.
  3. Financial Planning Toolkit – Personal and professional financial planning resources—including comprehensive information, calculators and tools.
  4. Government Forms Library – Access to 40,000 federal and state government forms in an easy to search format.
  5. Legal Forms Library – Access 49 legal forms and guides.
  6. Search Engine Optimization Audit – A customized SEO audit designed to show you how your website can work harder and convert more business.
  7. Toolkit 411—Small Business Assistance – Answers to your unique business questions within two business days from an expert with over 20 years experience.
  8. Toolkit Publicity Pack – A turnkey service that shows you how to draft and distribute an attention grabbing press release.

At the end of your annual membership term, you can keep your same three services or change them as your business needs change. The Premium Membership is designed to help you to meet the biggest challenge small businesses face today: keeping up with the competition while keeping down the cost of doing business.

Gain a competitive edge today and check out the Business Owner’s Toolkit Premium Membership.

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Registered Agent Q&A Part Two: I need one, Now how do I pick one?

Posted on September 17th, 2009 by Heather
Category: Form My Business, Work For Myself

So you’ve done your research, read our previous post, and realize you do need a Registered Agent.

Now that you know you need one, what should you look for in a “good” one? Our little Q&A below should help you answer that exact question.

Q.) Ok, so maybe I do need one, how do I choose a registered agent?

A.) Since you will be paying an annual fee to use a provider, look for professional and prompt handling of Service of Process. Also look for a firm that is authorized in every state, which is beneficial as you company grows, or if you ever relocate to another state.

Look for additional value for your money, a good registered agent should also provide compliance assistance, such as helping you gain access to an annual report filing service, or other forms necessary to meet internal compliance obligations.

If you are changing your registered agent, look for one that will file necessary change of registered agent forms on your behalf. Some will actually cover state filing fees if you are going to switch to them as your new agent.

Also look for convenient account access – As a business owner, your time is precious. Look for a registered agent provider that will allow you to access your account and important information online, when it is convenient for you, not them.

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Registered Agent Q&A Part One: Who or What is This, and Do I Need One?

Posted on September 10th, 2009 by Heather
Category: Form My Business, Work For Myself

So you’ve formed a new company and are ready to start or grow your business. One of the things you may have run across while forming was mention of a Registered Agent. If that was a new one for you, then this little Q&A will cover what that is, and why you should really think about getting one.

Q.) What does a registered agent do?

A.) A registered agent is responsible for receiving important legal and tax documents on behalf of your business; things like Service of Process, which is the document that initiates a lawsuit. A registered agent also receives important mail, correspondence and tax documents sent by the state.

The registered agent must have a physical address in the state of formation or qualification. Post office boxes or a private, rented mailbox are not allowed. The registered agent must also be available during normal business hours.

Q.) Why do I need a Registered Agent?

A.) Most states require corporations and LLCs that are formed or registered to transact business there to have a registered agent in that state.

Individuals are allowed to act as their own registered agents for a business. For example, if you have a physical address in the state where you form your corporation or LLC, you could name yourself as the agent. You could not, however, name your new company as its own registered agent. In order for a company to act as a registered agent, it must typically be approved to do so by the state in question.

You may be saying, “I’m a one-person company, why should I use a registered agent provider?” In reality these companies provide a lot of value to even the smallest of businesses; such as providing electronic notification and online access to Service of Process and providing tools to assist with the ongoing compliance requirements corporations and LLCs face.

Below are some items to keep in mind and some situations for which using a registered agent service provider may be the best choice for your business.

  • You’re forming your company in a state where you don’t have a physical location. You are legally required to have a registered agent with a physical address (no P.O. Box) in the state of formation.
  • You use a Post Office box as your business address. You cannot act as the registered agent for your business if you have only a P.O. Box as your only address.
  • Your address changes frequently. It is important to keep the registered agent address updated with the state, but changing it requires a formal state filing and may also require that a fee be paid to the state. If you name yourself as agent, you will be responsible for undertaking this process to keep your address current. By using a registered agent service provider, you never have to worry about this.
  • Your business is home-based. As previously mentioned, the registered agent address is a matter of public record. That means anyone, including marketers, can access it. It is not uncommon for the registered agent to receive a lot of “junk mail” for the business. Using a registered agent provider can reduce the amount of unsolicited mail your business receives.
  • You prefer to keep business activities private. When a company receives a Service of Process, this document is often delivered by local law enforcement. Most business owners do not want the sheriff to show up in front of customers, employees or neighbors (as in the case of home-based businesses) and serve them notice that their company is being sued. Using a professional registered agent ensures you receive any Service of Process discreetly.
  • You don’t maintain normal business hours. The registered agent for a business must be available during normal business hours to accept important documents as they are delivered. If you set your own hours, you may wish to consider using a professional provider, so that you never miss these important communications.
  • You do not have a permanent worksite. If your business requires you to move around frequently, for example an electrician who is making service calls all day, using a registered agent service provider ensures that important documents will still reach you and your business.
  • You want one less thing to worry about. Running your company is challenging enough without personally handling the necessary minutia. A professional registered agent can often help you by providing online access to your accounts and important documents and assisting with the annual filings states impose on corporations and LLCs.

In next weeks post, well give you some tips on how to select a registered agent that will meet your exact needs.

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Getting Started as a Consultant

Posted on September 3rd, 2009 by Heather
Category: Business Inspiration, Launch My Business, Work For Myself

Do you think you’ve got what it takes to be a consultant? If you’ve suffered from a layoff or corporate down-sizing, perhaps being a consultant is just for you.

There are two ways to look at being a consultant:

  1. As a “filler” job;
  2. As your new full time career.

The filler job is just that – a filler in between other full-time positions. Becoming a consultant while you continue to search for another full time position allows you to stay current in your field. It also helps to fill in any gaps on your resume. It can also show potential employers that you have great initiative, and you may have some client connections they are interested in as well.

If you’re approaching consulting as your new full time career there are a few things to consider.

Pros:
As a consultant you might be able to earn more per hour than you did as an employee. You often have a more flexible schedule and can work primarily from home. If you position yourself as a subject matter expert, you have the potential to earn income from writing and public speaking as well.

Cons, or at least things to think about:
Do you have a definable niche? Potential clients aren’t usually looking for a consultant that is a jack-of-all-trades. If you can’t narrowly define yourself, then you probably aren’t ready to go it alone.

Are you naturally outgoing? The main way you will find your first clients is through networking and good old-fashioned phone calls. If you don’t like small talk and cold calling perhaps your skills can be put to use in a way other than consulting.

Clients=Pay check. No clients, no pay. So, you need to make sure you will be ok financially while you’re drumming up that first client.

And finally, are you ready to be a small business owner? That’s exactly what you will be if you decide to become a full time consultant, working for yourself. You will need to really consider incorporating to protect your personal assets, setting up a web site for your “company” – even if it’s just you, and getting a marketing plan in place to help get clients. By creating a business entity you open the door to small business grants, business banking, and some other opportunities that could help you get your consulting business off the ground and growing.

So, if you’ve been laid off as a result of this economy and are considering being a consultant, remember to do your homework and make sure you’ve got what it takes.

Resources:
http://homebusinessmag.com/businesses/consulting/become-consultant
www.toolkit.com
www.bizfilings.com
http://unixwiz.net/techtips/be-consultant.html
Book: Breakthrough Consulting: So You Want to Be a Consultant? Turn Your Expertise into a Successful Consulting Business

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