Sitemaps

Questions

CPA

Is there an advantage to fund your company with a personal loan vs equity?

3

Answers

Michael Johnson

Clarity Expert

There can be. Debt is generally 'cheaper' than equity and also allows for flexibility in the event of default. Further, tying up equity precludes other investments.

View Answer

Fendy Sutji

www.palmoilproduct.com

Do u know Sensational Marketing Campaign? that's what i called it ! Example: Build The Largest Handbags on Guinness worlds Record or the most Valueable Handbags with diamond/sapphire/diamond on it .....etc Result: your Brands will get covered up by media around the Worlds!!! You can Boost your campaign with PR to expanded Your Brands

Gregory Jenkins

Entrepreneur and Finance Operations Specialist.

You can simply divide equally among the three companies or divide the fee based on usage. Count the volume of mail received for each company. Each individual company's share would be Individual Company divided by the Total.

Yishan Lin

Clarity Expert

Use company card for any mileage that you are driving for business purposes. It'll make tracking and end-of-year reporting much simpler. You may not, however, use the mileage you drive to and from your office (the IRS labels that as commute mileage) as a tax-deductible business expense.

Stoney deGeyter

Author, Speaker, CEO

That sounds right, but in my experience it's a good idea to get the W9 before you pay them anything. Vendors have a tendency not to get you that information when you need it, especially if you only use them periodically. I have found the best way to be sure you get the W9 is to have them submit it before you send the first payment.

Sara Greasley

Custom Packaging Expert. Howtobuypackaging.com

Shipping components are expensive and unless you have the volume to buy in quantity vs small bundles is when you'll be able to shop around for a better deal. For example, Uline offers packaging in bundles of 8 or 25 as their minimum, this is stock item for which they order several thousands units of to keep the cost down. For you it fits because you can buy in small amounts at a time. However, if you have a need for 1000 at least or more units then buying from Uline is really expensive compared to what you could buy them for. Uline is a major distributor with a 45-50% markup on their items (give or take) as they have large warehousing and infrastructures. If you are ready to move to the next level, first find the correct material name for each packaging component, and look for suppliers of that particular item. Search websites likehttp://www.thomasnet.com/ for suppliers. Or go through a packaging broker instead of a distributor, like Landsberg Orora, or Ernest Packaging, and they can do all the leg work for you and still save money. Additionally, I know your drawing is not to scale, but there seems to be excess empty air space, if that is true then you can customize your packaging per exactly your needs, which will help to further bring the cost down. An engineer should take a look at your current situation because there is more at play than just shipping components - method of shipping, weight, weather condition, materials thickness etc all play a roll and can all contribute to cost saving while making the whole thing function better. This question is common enough that I've written tutorials on it http://howtobuypackaging.com/how-to-buy-packaging-part-1-determining-your-packaging-needs/.

Joseph Peterson

Names, Domains, Sentences and Strategies

I'd strongly advise splitting into 2 brands with separate websites and names. Both can advertise and link to one another; so you'd be losing none of the benefit of cross-promotion. Obviously, you're offering 2 services that barely overlap. Installing stadium bleachers is very different from producing video ads for dentists and jewelers. Today the overlap seems like a real connection because those dentists and jewelers had seen your earlier sports-themed videos. But once you begin promoting the video service itself, you will be marketing to people who don't know about your bleachers. Those new customers will have seen your later videos – the ones about dentistry and earrings. Coming from that angle, they'll find the connection to sports and bleachers to be bizarre, confusing, distracting. Here are a few disadvantages to keeping 1 brand with 1 site: 1. If Jack or Jill wants to hire you for video, then finding "sports" in the brand name will harm your conversion rate online and offline. Don't give anybody an excuse to click away from your site, forget your name, or deem you less professional than the competition. 2. Some day, you might want to separate the 2 businesses – keeping 1 and selling the other. If you brand them separately and market distinct websites, then they're easier to disentangle. That way, each can thrive on its own. 3. Position yourself so that neither service gets in the way of the other. Suppose you get a negative review for the video service. (Disgruntled customers don't need to be right to make a stink.) If you've only got the 1 brand, then this negative review affects your stadium business. Better if they can be separated. 4. So you're dividing the screen. That may look OK on a laptop. However, more and more, consumers are viewing the internet on tiny mobile devices. Half of a tiny screen doesn't give you enough space to pitch EITHER of your services adequately. A phone is barely enough room for a small picture or video. Don't throw half of that away. Your competitors won't. My own professional specialty is naming and domains, in case you'd like advice or feedback. Good luck!

I really like the idea of specific benefits. "Have more time" is vague, but "get to your daughter's dance concert" is specific. Generally, if you can make the value proposition specific and something that your prospective clients can relate to, you've got a much stronger position than if you offer them the opportunity to: "gain control of your life", or "have more freedom."

Stoney deGeyter

Author, Speaker, CEO

Basically, any money you put into the business with personal funds is a loan into the business to be paid back. Lets say you put in $10. At the end of the year you profit $100 dollars. That $100 goes back to you as owner, however only $90 of it is considered taxable money since the 10 is just a payback of the loan. That's the simplified version, assuming you're an LLC or S-Corp. Talk to an accountant to get advice relevant specifically to you.

Is there some area of your SAP experience that would really resonate with a particular business and a particular problem? For example, if you're a SAP BW expert, you may be able to identify large retail clients who need to use analytics to identify which products and locations are doing best (or worst). If you're looking to help existing SAP clients move to HANA, are you able to create a roadmap to help them overcome the very first hurdle in making the move? Or you could aim at a particular position within a particular industry. For instance, you may be great at implementation of SAP HR for manufacturing businesses with over 300 staff. Of course, you're not bound to go into a business centred around SAP, but if you draw on your existing experience to know who you work with best (and who you'd rather avoid), that can be an easier step than starting all over. I wish you all the best as you head into a new business. It can be very helpful calling on the help of online communities (such as Clarity.fm), mentors or local meetup groups.

Taylor Barr

Affiliate/Referral/Partner Program Expert.

At the foundation: Affiliate marketing can be termed as marketing a product or service better than the merchant itself. But what I have seen (from the Affiliate Management side) on what distinguishes high performing affiliates from lower ones: They show a different side of the product or service, incoporate it into a larger service offering, and/or push for real value to their audience. That, in turn, builds a loyal audience base because of their unique or specialized position on these products or services. My suggestion, take a look at Zac Johnson: http://zacjohnson.com/ He has some great tips; from starting out picking a niche to scaling your current, successful affiliate marketing tactics. Good luck! If there is anything else I can help with, I am only a call away:)

Ryan BeMiller

Expert & Actionable Advice on Ecommerce Marketing

Statista is a good source. For example, one of their reports states that for global internet users, the largest percentage people of who have made online purchases (58 %) were in the fashion-related category. Here's a good start on all ecommerce stats for apparel. https://www.statista.com/search/?q=apparel

Jason Kanigan

Business Strategist & Conversion Expert

Upwork is a terrible idea. Everyone there is broke. They're struggling to find clients themselves, and have no money left over after they possibly keep their heads above water to invest in your services. Find a better class of freelancer for your clientele. I don't think the startup/VC people are going to care, even though your idea makes some sense (in that helping their fundees market better = more customers = faster payback/growth), because people don't connect the dots. You should niche down, not be 'for everyone', and focus on one kind of customer for now. Eg. Ghostwriters. You can always branch out later. But to keep yourself sane, it's a good idea to learn one niche and work it over and over again, quickly re-using what you've learned, rather than having to slowly learn a new niche with every new customer. Good marketers do this: a bizdev pro who helps plumbers uses their experience about that industry repeatedly, getting through the projects with ease, rather than the grinding of gears trying to learn, say, the landscaping, then the homebuilding, then the paving industries. I haven't seen your financial info but I doubt you're in a position to go after paid advertising yet. You need at least US $3000 to literally throw away and not be crippled by the loss of in order to be able to risk on paid ads and 'figure it out' as you go. Pick a niche, market yourself as the clear and obvious choice to help them get more and larger clients, and repeat, repeat, repeat. Do not reinvent the wheel. Do not look for 'challenges'. Look for work that is easy for you. Otherwise, you will exhaust and frustrate yourself. Might be time to go get a Dan S. Kennedy book on your marketing plan...if you have Kindle Unlimited, you can get it for $0. This, by the way, is the #1 thing I see missing from service providers and their marketing plan: FOCUS.

Chalmers Brown

Techstars-backed Founder & Engineer

If you have a business you should really have a business savings account. Although they may offer very similar features, it is better for your own internal accounting to separate the 2. Also if you have a business savings then the name on the account is your businesses name, which is definitely a better route if people are paying your business. Specifically in terms of pros/cons of actual features, at a high level they are more or less the same.

Kevin Yanger

Clarity Expert

If you have an idea of ​​creating a great online betting platform and are looking for software for your startup website, you can turn your attention to these products https://nuxgame.com/products . This company is exclusively engaged in the development of software individually for each online casino. They have a lot of reviews and suggestions that you can read, as well as chat online.

Lee von

Unique Insights, Creative Solutions

How to best market your product will depend largely on what your product is, and how far along you are in having a 'minimum viable product' (MVP: https://en.wikipedia.org/wiki/Minimum_viable_product). For instance, word of mouth advertising at your college may be the best route, but below is a general description of the lean startup approach: 1) If it's a web-based startup, generally the cheapest way to start marketing is to set up a 'landing page', which is a simple page which shows the key features of your service, and gets people to sign up. Here are some services which make it easy to make a landing page: https://www.weebly.com/ http://cindr.com/ https://www.squarespace.com/ https://webflow.com/ https://www.leadpages.net/ http://unbounce.com/ https://www.launchrock.com/ http://themeforest.net Free photo resources: https://unsplash.com/ 2) Once you have your landing page set up, set up tracking analytics for it. You can use: - Google Analytics - Mixpanel + Popcorn Metrics (easier than google analytics) - Piwik, etc. 3) Once you have your landing page and analytics set up, start advertising on relevant platforms, e.g. Facebook (allows you to target very specific demographics), Google Adwords, etc. Look closely at your analytics to see how many people are going to your site, are they signing up, how deep down your sale / sign-up 'funnel' are they getting. To advertise on Facebook you'll need to make a little banner image to use as an ad. To advertise on google you just need a text description. If you set up a lot of different ads, it would be good to use UTM codes ("urchin tracking monitors") which will allow your analytics to track each individual from each different ad through your funnel. In addition to Facebook and Google advertising there are lots of other cheap ways to advertise, including getting press (e.g. use HARO), and sending emails to blogs as you mentioned. If you'd like more in depth or specific advice relevant to your specific product let me know, best, Lee

Lee von

Unique Insights, Creative Solutions

Here are some tips: 1) Start with a short 1 sentence intro. 2) Get right to the point quickly in a clear and easy to understand way. Eliminate all long winded and/or confusing language. 3) Most people will be very wary of clicking links in a cold-call email. Partially because it would take time, and partially because of scam wariness. To get around that negative bias, include a professional looking screenshot of your SaaS and anything else that would convince them that you're legit and that they'd want to use it (1-2 screenshots, 1-3 main features, 1-3 positive reviews, logos of any online news/blog coverage). Have all of this be in-line, not as attachments. To facilitate their demo call booking, use YouCanBookMe (https://youcanbook.me/). They'll see a simple calendar with times they can book for a demo, without any need to email or call you back to set up a time. 4) If allowed in this project, look into other routes other than emails. For instance: A) Post it to relevant subreddits (https://www.reddit.com/r/doctors/, etc.). B) If possible, mail a small gift (e.g. a small chocolate) to your potential leads, and have a note on the chocolate with an intro and a link (use an URL shortener) and/or QR code. Even if they don't go to the link on the note, you could do a follow up email in which you mention that you previously sent them the gift, which will increase your success. If you'd like to discuss other techniques more tailored to your specific product let me know, best, Lee

Charles Voltron

Blockchain-DeFi-NFT-DAO-Solidity Mentor

If you are conducting business then definitely open a business bank account for that. The primary reason is simply to have a separation of concerns. It's a huge hassle to have to have sort through a personal bank account to find all your business items when you need any kind of financial reporting. I don't have 4 distinct reasons to give you aside from the one big reason and that is that it just makes keeping track of business revenue and spend a lot easier. As far as tax deductions go you basically have a categories you can file expenditures under that qualify for deductions. Just add those all up for each category at tax time and deduct. Of course you will want to discuss the finer details of that with a business tax professional/CPA.

Shaun Nestor

Content Marketing Advisor & Agency Consultant

Your question is very thin on details. You will have greater success of experts answering if you include more detail in our specific about what you're looking for.

Jason Knott

International Tax Attorney

Yes it is possible. It is not uncommon for an LLC to have a managing member that owns a nominal interest of 1% while the remainder of the LLC units are owned by limited members that do not have management authority or actively participate in the operations of the company. If the LLC member is authorized under the LLC operating agreement to manage the affairs of the company, then they should be able to open a business account on behalf of the LLC. The bank may request a copy of the LLC operating agreement to verify that you have the authority to act on behalf of the company.

David Favor

Fractional CTO

Work with your Tax Preparer. I'd suggest H&R Block Executive Tax Services to ensure all your filings are correct.

Humberto Valle

Get Advice On Growing Your Real Estate Business

There is a thing called big data and small data and you gather these type of demographic information from research on competition, neighborhood demographics, lifestyle, family routines in and out of a home, sometimes jargon and slang can be key identifiers of niche groups, there is no single way of doing this but you do need to have a process in place that you can track your own work and see yourself getting to small demo each time. Look into Blue Ocean strategy practices, at Unthink, we use this to create campaigns for our clients even if we don't achieve blue ocean we get off the beaten path typically used by competitors and this has helped us achieve competitive advantage for our clients.

Dr. Shishir

Angel Investment, Venture Capital, Idea Validation

Disruption is your answer. You have to make the product disruptive or the product be competitive with disruptive pricing. Some entrepreneurs have this myth that if they convince the potential investors to use their products then they can get the investment, however this is wrong. If you make cigarettes and your investors don't smoke then they will still invest in it, if it sells. I can help you in making it disrupting, generating traction and hacking growth and then raising funds from the investors. Let' set up a call.

guy spriggs

Founder/CEO turned business consultant

AdsML http://www.adsml.org could be relevant. Their website looks like there's nobody home but the xml tech behind it would still be valid, however and is described on the site. As CEO of an online advertising software company, we contributed expertise, defining concepts and working out methods with industry partners. Call me for more info.

Load More