Browsing articles tagged with " business growth"

7 Steps to Start Your Own Corporation ….

Sep 19, 2012   //   by Kevin Jimeno   //   Blog  //  No Comments

How do I open a corporation? Do I need to have a corporation? How do I even begin ??…….

Here are a few steps to follow:

7 Steps to Start Your Own Corporation

 

1: Choose a Corporate Name & Address: Have a corporate name search performed to ensure you are unique and have no trade mark problems in the future.

2: Select A State to Incorporate:Setting up a corporation will be easier and cheaper in your home state than out of state.

3: Select A Corporation Type: Determine the best type of corporation for your business–LLC, S corporation or C corporation.

4: Determine Company Directors: Directors of the company and positions will have to be filed within the Articles of Incorporation and By-laws.

5: Choose Your Share Type: Corporations can issue common and preferred stock. Select the best for your situation.

6: Obtain Certificate of Incorporation: Available from local State office or business retailer.

7: Process & File Incorporation: Your incorporation can be completed by a lawyer or a do-it-yourself kit. Finally, file your incorporation with a Registered Agent.

 

The decision to start your own corporation an important one. Work with us to determine if the time is right for you and which kind of corporation is best for your business venture. Don’t wait until it’s too late and you have lost money!

Why Start A Business?

Sep 11, 2012   //   by Kevin Jimeno   //   Blog  //  No Comments

Benefits of Starting Your Own Corporation …

  • Liability:A corporation exists as a separate legal entity from your personal life. Any debts or lawsuits are incurred by the company, not the owner. Any business with potential for lawsuits should consult with a lawyer and consider incorporation. Incorporating will offer an added layer of protection but it is still adviseable to obtain business liability insurance.

    The bad debts will often be the responsibility of the corporation. In the case of bank financing, more and more banks require business owners to sign a personal guarantee; making your personal assets collectible on a defaulted loan. Consider your options before signing.

  • Taxation:Another main benefit to incorporating is the taxation of a company. Corporations are often taxed at a lower rate and have better taxable benefits. Talk to your accountant about the tax advantages.
     
  • Raising Money:Financing a small business as a sole proprietorship or partnership can be difficult. A corporation can sell shares of the company and raise money easier than other business structure types.
     
  • Selling the Business: A non-corporate business is hard to valuate properly. A business corporation value will be based on the business, not the owner, therefore making it easy to sell the company.

Still asking “Why start a business?” …didn’t think so 🙂

If you are considering starting a business give us a call and let us open your corporation and guide you through the steps to make your business financially successful! 

4 Steps to Attract and Track Revenue

Mar 1, 2012   //   by Kevin Jimeno   //   Blog  //  No Comments

To receive the first 2 steps to attracting and tracking revenue you first need to read Business Accounting to understand the profit & wealth strategy.

There should be a new kind of tenacity about measuring revenue that results from marketing, and viewing all marketing, operation, accounting and sales activity as equal parts of a greater revenue cycle. This is a new way of thinking that will transform your company in an incredible way.

3. Form a revenue team. A “revenue cycle” means more than just tacking marketing onto the front of an existing sales process with a few new metrics and calling it a day. Rather, it requires sales, operations, accounting and marketing to work together and collaborate around important activities from one point to the next.

For example, start by establishing common definitions for critical terminology, terms that marketing and sales might be using completely differently to the detriment of their own revenue performance. Even terms like “lead,” “suspect,” and “sales-ready” can mean one thing for a high-energy marketer and another for a stressed-out sales rep just trying to reach quota.

Reporting together is equally as important. Work with your sales peers and accounting to decide on dashboards and metrics that will matter most when you’re in front of your Financial Report Card. While “feel-good” metrics like number of leads collected at trade shows, Twitter followers, or webinar attendees are important for marketers to track, they lack impact at the executive level. You should be thinking “opportunities” rather than “leads” and “investment and return” instead of “cost and spend.” Above all, you should frame all activity, even from marketing, in terms of revenue, cash, profit, and growth. Deciding together on performance terms and metrics that clearly show each team’s impact on the top-line numbers is a huge step forward.

Finally, have at least a monthly check in with accounting to review the finanical reports card and weekly check-in with your sales process to see how your own demand generation efforts are going. Are leads being passed to sales actually ready for outreach, or is sales frustrated and instead spending time searching out names to add to their databases? Is there any feedback from prospective buyers? Viewing these “little things” as important as the big agenda items will go a long way in creating mutual respect, collaboration, and a sense that everyone is part of “The Revenue Team” in your business.

4. Streamline your revenue toolbelt. With so many activity demands for marketing, the number of tools competing for use has exploded. From multi-client social media platforms to Google Analytics, email-marketing systems, targeted direct mailing, search-engine marketing (SEM/SEO) and more, the solutions available for marketers are as fragmented in nature as the audience types themselves. But for marketers today, getting a clean read on how much demand is being generated at a high level, knowing which leads are most ready to purchase, and associating this data with actual sales that have closed are the big-picture metrics that matter most.

And thankfully, a new set of broader solutions that help support better revenue performance management are becoming available, in addition to innovative developments from Accounting leaders on the best way to measure the success of your revenue cylce.

While it’s not quite completely “set it and forget it,” these systems enable companies to communicate with their accounting team and answer those key revenue-impact questions.

We know this stuff works because we’ve seen it in our own networks. In fact, we’ve seen companies grow by more than 400% in the last three years buy aligning sales and marketing, and measuring the revenue impact to make changes that helped growth.

Intelligent and revenue-minded systems is more important than ever for any company looking to grow in 2012. Our research and experience show 80% of your business should be touched by marketing in some way (that’s compared to a norm of 20%) and that half of closed booked business is from so-called “slow leads,” the kind that take time and nourishment, which supports the new type of buyer laid out above.

Now more then ever presents a massive opportunity for companies to reinvent themselves as a core part of a revenue cycle machine. It’s time for owners to step up to the plate and make their organizations key contributors (Accounting, Marketing, Operations, and Sales) to your growth.

We know we can be a part of your companies Revenue cycle to generate the return on investment you need.

Contact us no for a free wealth strategy session customized to your business.

Discover How Hiring Your Child Pays For College and Saves You Taxes….

Feb 23, 2012   //   by Kevin Jimeno   //   Blog  //  No Comments

A parent who owns a family business can hire his or her child to work for the business and shift income from the parent over to the child at a lower tax rate.  If the child makes deductible IRA contributions with wages earned, the parent and child can convert contributions to a college savings plan into a current tax deduction.  Future withdrawals from the IRA used for college avoid the 10% early withdrawal penalty and are generally subject to the child’s lower tax rate. Tax on the IRA withdrawals may also be offset by an education tax credit or deduction. 

Example #1:  John owns a lawn care service and employs his 16 year old daughter Mary to help.  She operates lawn mowing equipment and other legitimate services as an employee.  During her summer vacation in 2011, she earned $10,800 helping her dad in his business. Assume John is in a combined 30% federal and state income tax bracket.  The $10,800 in wages reduces his income tax liability by $3,240 and his self employment tax by $1,327, for a tax savings of $4,567.  Mary’s wages are not subject  to FICA of FUTA.  If Mary contributes $5,000 to an IRA, she pays zero income tax. 

      Mary’s wages………………………………………….……..$  10,800

      IRA contribution……………………………………………..$ ( 5,000)

      Standard deduction………………………………………….$ (5,800)

      Taxable income………………………………………………$       0 

Do you see the beauty of it,.  John saves $4,567 in taxes and  Mary already has a savings of $5,000 to pay for college education.

Is your business going Social? [Video]

Jan 24, 2012   //   by Kevin Jimeno   //   Blog  //  No Comments

Piers Morgan Tonight interviews Social Media Thought Leader Gary Vaynerchuk on his book the “Thank You Economy”
 
This video will give you the insight you need to know if your business is moving with the new Social Economy.
 
With all the different tools and new things coming out in the social media business world I know it can seem overwhelming and completely foreign sometimes.
 
Our suggestion is to pick one that seems the most relevant to your perfect target market and just master it before worrying about anything else.
 
Let me know what Social Media strategy you are using in your business by leaving me a comment….
 
Thanks

Aim for a 1% Improvement Every Single Day

Jan 6, 2012   //   by Kevin Jimeno   //   Blog  //  No Comments

I read this post about improving yourself a couple times in 2011

Funny part is I wrote it down because it connected with me since it reminds me of
something I always tell our clients, “Baby steps count too.”

The first day of the 2012 year I found it while I was organizing my files and thought it would be
the perfect post to start off the year right!

“Well, the power of this is that if you do this every single day,
then you will completely transform yourself and your
life in less than 1 year.

In fact, you will be 3,700 times better by the end
of this year.  This is also why Einstein used to say
that “the power of compounding is one of the most powerful
forces in the world.”

If I could do that, perhaps I could fly.  🙂  The key idea that
I am trying to communicate is this:

Aim to be better today than you were yesterday!”

If that doesn’t get you going, you might have to check your pulse.

Share this if your inspired…

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