In our effort to protect the usefulness of the community, we are reviewing accounts as they are created to weed out spammers and bots. But sometimes they slip through the cracks.What Is Spam?Here are some examples of spam on this site:Any posts, discussions, or comments that are obscene or vulgar. Any posts, discussions, or comments that are not related to small business.Mass unsolicited sales messages.How to Handle SpamIf you suspect a member is a spammer, please send a message to our…Continue
Welcome to the Small Business Bonfire! Your first stop should be our Membership section. As a member of the Bonfire, you get free and unlimited access to some very useful tools for small business owners that aren't available anywhere else:The Spark NewsletterRed Hot Tool of the Week ArchiveSmall Business LibraryBonfire Member Discounts and Special OffersAnd a lot more...The…Continue
When most of us start businesses, we have conflicting ambitions. First-time entrepreneurs don't know that they conflict. Put together they seem perfectly reasonable. Alas, you cannot realize these ambitions simultaneously, at least as far as my knowledge and experience goes.
New entrepreneurs want to grow successful businesses. That should go without saying. It would, if it weren't for the conflicting ambition. New entrepreneurs also want control. Freed from the constraints of having a boss, they want to exert their new found authority.
This isn't some power play. Aspiring to control a business is perfectly natural. The first-time entrepreneur typically possess a technical skill. She has used that skill in serving another business, but feels she's better off using that skill for her own direct gain. The entire idea behind starting a business is to gain control over the use of a technical skill.
Yet this desire for control conflicts with our desire for growth.…Continue
Whenever you visit an exhibition, what catches your eyes first? The entire ambience of the place! Once the ambience appeals to your senses, you move forward to take a look at the various stalls and stands that line themselves up to display their products and services. You are generally selective in looking at these stalls as well. Instead of entering a shabby or ordinary looking stand, you find yourself automatically drawn towards a stall that has interesting exhibits presented in attractive display stands.
If this is true for you, the case remains same for your visitors as well; if not more. They would also see how you have presented your products and/or services, before consider entering your stand. That is why;…Continue
When you’re deciding to register your business, the legal vocabulary and tax options can be overwhelming, especially for a first time business owner.
Typically, a small business should consider one of two options: a sole proprietorship, or a limited liability company (LLC).
These structures are usually inexpensive to set up, easy to run, and allow for pass-through taxation.
However, there are key differences between the two that a business owner should understand.
A sole proprietorship is the easiest entity to set up. In fact, if your business contains your legal surname, you already ARE a sole proprietor (i.e. Scout Finch’s Birdhouses). If Scout Finch decides to operate under “Home Tweet Home Birdhouses,” she’d have to register a fictitious name with the state, whose costs vary. That name is not reserved for Scout, however. If Tweety Bird wants to form an LLC under the same name, she’ll be able to take it, much to Scout’s chagrin.
There are few…Continue
In the bestselling book, The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich, author Timothy Ferriss explains how entrepreneurs can master time. Ferriss shared how he changed his priorities, reformed his management strategy, and reduced the number of hours he worked each week. In the process, he learned how to work less hours and increase profitability.
It doesn’t matter how many hours a week you work now, the size of your business, or what type of business you have. What does matter is we can all learn to streamline our businesses. We can work less, and make more money. We can redesign our business, and change what isn’t working. Maybe we can’t get down to a 4-hour work week, but we can certainly learn how to be part-time entrepreneurs.
Change Your Priorities, Change Your Time
In The 4-Hour Workweek, Ferriss explains how he was working himself to death. He was headed towards a…Continue