Q: well am thinking about starting my on business any ideas on how i can get started and wat should my business be
A: you've got it back to front. First you look for a niche in the market that needs to be addressed or you note a shortage of demand. If you are not addressing these keep your money in your pocket. Business opportunities come from hobbies expanded, new technology (e.g. become the Blue Ray expert), niche markets e.g. something a cultural group wants or needs, changes in law create opportunities for experts to emerge, changes in demographics e,g, more children in the area. Look around. Ask people around you. How to start will depend on the idea - some businesses start part time until they get enough customers to move on - some start as web based businesses and others just have to bite the bullet and go bigtime. Whatever you do please do a business plan before you start - work out the details on profitability, time needed to make it work etc before you commit any money to the idea. Need a great business plan format try. http://www.australiansmallbusiness.com.au/Easy-Business-Plan-Pack-p-16143.html
Q: I am opening an online business for website design. (set up as a LLC, I'm the sole owner) Should I start keeping receipts of all business related expenses? Or would my business qualify as a hobby if I don't make a certain amount of money in the year that I'm filing. What types of things can I write off onto my business? (dinners, gasoline, etc.) Do I need a seperate business credit card/bank account for the expenses? Do I have to accept payments towards the business's services through a corporate account, or can they make the check/payment directly to me?
A: You need to keep accurate records when running a business. This will be your best defense if you ever get audited. For IRS purposes, you need to make a profit every 3 out of 5 years to have the IRS prove that you are not running a business. Otherwise, it is up to you to prove that you are running a business and not doing a hobby. You can prove that you are running a business by keeping your business accounts and personal accounts separate.You can write off any legitimate business expense including dinners with clients, car expenses, equipment, etc.Having a separate checking account and credit card is a good idea. However, it isn't necessary. You can comingle your business and personal expenses using your personal accounts. But, if you do this, then it will be harder for you to prove that you are running a business.For your revenues, you don't need a corporate account to make you deposits. You just need to make the deposits in your separate account that you use for business.You can read Publication 334 for more information.
Q: I have my own wedding and event planning business and I am interested in selling in it. I really want to know the format of a business proposal for selling a business and I would really like to see an example of a business proposal for selling a business (comes with existing advertising and a website). I want a sample so that I can get an idea. Please do not tell me tips. I really would like to see a sample of a proposal for selling a business.
A: You can't post a Proposal for Sale of Business here. It is a comprehensive document similar to a business plan with dozens to hundreds of pages. Contact a broker like VR Business Brokers and see if you can get help. Yours is a unique business driven by personal contacts and is not easily sold.
Q: How do business owners, that have businesses that experience very exceptional growth figures, keep on top of the necessary business knowledge to help deal with their growth. And to assess whether or not a business should expand operations?? Is their courses, or a series of business books that aid with this type of thing!Any advise from people who have led rapidly growing businesses is most welcome. Thank you for your time and help.
A: You build a team of people around you, each of them having knowledge and insight that you don't have. These team members can't just be friends or other people you happen to know. You will have to select each team member actively and based on what they bring to the table.Then, you meet with your team on a regular basis to discuss relevant issues:-what's happening with the technology?-what are competitors doing?-what do customers think? - etc, etcAlso, find a mentor (someone you admire, or who has done something similar to what you want to do).The best part? People will most often volunteer to give advice and be a mentor for free!
Q: I want to start a web design business and marketing products online. I would be selling digital products internationally and designing web sites for companies and individuals. What kind of business structure (sole proprietorship, incorporated...etc) would suit both business? Which one would protect me the most?
A: If you are looking for protetction you will need to set up a corporation. This is basically a seperate legal entity which files its own taxes and can sue or be sued by other individuals or corporations.A corporation does add cost: initial set up, you will need a corporate address (usually not a PO box), annual record keeping, reporting, and taxes. When done correctly it will protect your personal assets from being taken in the event the corporation is sucessfully sued.A word of caution in setting the corporation up. There are process and procedures you need to adhere to to ensure your assets are properly protected behind the corporation.These include (but are not limited to) personal guarantees, maintaining your minutes book, bylaws, proper shareholder designations, etc. If you do not set the corporation up properly you could be inadequately protected.The safest way (but most expensive) is to see a lawyer to set something up but you can use your own discretion.-Dustin
Q: I'm taking a college online business telecommunications class. I have to write a 20 page business recommendation paper. We first just have to come up with a topic. It states, "Specifically, you will be providing background information on a technical topic, presenting alternatives to solve a business problem related to this topic, and then recommending one of these alternatives to a business audience. In short, you are writing a business recommendation!"It's going to be hard to start writing this, because I don't even know what a business recommendation paper is lol. Any help would be much appreciated! Also any good topics you recommend?
A: Your task is to identify some business problem related to technology, research possible solutions to that problem, and ultimately evaluate those possible solutions and recommend which one would be most effective at solving that problem.Here is a question but I don't know if anyone has done any research on this topic and whether it would matter. Many people have computers but not all people do. Should businesses band together to put internet-access kiosks in public places (malls, libraries) that would allow people without computers to place online orders for products? Should a company that only sells its products online advocate such a system?
Q: The business is located on the border of Los Angeles and Beverly Hills. I am receiving statements from both cities about business tax registration. Do I need to renew my business tax license in both cities? Do I need to provide gross receipts generated to both cities? Do I need to pay business taxes in both Los Angeles and Beverly Hills? Any advice is appreciated.
A: You can't be on the border. You are in one or the other. For example I'm told a property tax case happened because the house property had a city line go through the house. The court decided the city that had the main bedroom on their site was due the taxes. I'm not sure of the accuracy of it but only one city has authority on you for sure. Check with the property owner where the business operates on who pays the taxes and to who. I'd say that says where the business is.
Q: As a psych major I am well aware that my major is useless on its own so I am going to get some background in business by majoring in human resource management. My college also offers seven other business minors, accounting, business administration, economics, international business, management, management information systems, marketing, and personal financial planning. Which of these would be beneficial along with my HRM minor?
A: Hiiiiiii..I think you have to choose the Marketing section in Human Resource Management(HRM) because in marketing you get the nice job in the good reputed company on a high post..
Q: I came across a chart showing the avarage salaries of business analysts in IT/Computer software/Computer hardware. I do not know what a business analyst does exactly. What course should I take in college to become a business analyst. Currently I'm planing on getting a degree in Business with IT in college, will that enable me to become a business analyst?
A: Yes, the courses you speak of will help you to become a Business Analyst.A BA can be on the client side or the IT side. If on the client side, they are interfacing with work group domains that process the work and review what they need. They generate requirements and then work with the IT side to update or generate processes and applications to fullfil the business needs.If you're a BA on the IT side of the house, then you're taking all the requirements and developing processes and application solutions. Your job is to work with the client to generate a business solutions document (there are many names for it) and get signoff. Then, you need to make sure that solution becomes reality by working with systems analysts, programmers, and testers. You're generally responsible for the delivery of the solution. Although, if the solution revolves around process changes with other work group domains, you normally work with a PM (Project Manager). Never the less, you have end to end responsibilities for the IT delivery to insure the client gets what they need (and paying for).With the offshoring of work to cheap labor, to remain associated with software development, the BA role is a good profession.
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