Business Tips Articles
Ten Considerations To Make When Forming a Business With a Partner
When you are forming a business partnership or an LLC, you’ll want to consider the following concerning the business agreement between you and your partner.
- How will ownership of the business be divided?
- How much capital or property should each partner contribute to the business?
- What will happen if a partner doesn’t fulfill their contribution requirements?
- How will major business decisions be voted on? Do you want to require a meeting to approve major business decisions or is written consent sufficient?
- Do you want to plan for the addition of additional partners? What procedures and requirements must be followed to add additional partners?
- What will happen if the business needs to raise more capital?
- Do you want to allow or prohibit a partner from transferring or selling their interest in the business?
- What happens if the partner wants to leave the business? Will it trigger the additional partners purchasing
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Simple Tips For Writing Your Elevator Pitch
Whether you’re an entrepreneur, business owner, or professional such as an attorney, you’ll want to develop an elevator pitch. An elevator pitch is a 30-60 second overview of a product, service, or person. Sometimes elevator pitches are used in the literal sense — to quickly pitch a business idea to a venture capitalist or angel investor, but they are also used in other ways such as including it in marketing materials, making sales, or as a way to get a job or promotion.
In Wall Street 2: Money Never Sleeps, Jacob Moore’s pitch is simple: “Mr. Gecko, my name is Jacob Moore. I’m going to marry your daughter.” Concise. Effective.
How To Write An Elevator Pitch
Brevity is key. It must be concise. The average person’s attention span is a mere 30 seconds. Anything after that point and you will begin to lose their attention. You must grab …
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How does someone crowdsource their career?
I recently attended a great networking event held by the Lehigh Valley Economic Development Corporation. I was able to discover this great opportunity by joining the LVED’s Linked In group, which I urge you to join.
A quick tip for everyone out there looking to increase their client base and make great connections is to sign up with Linked In and begin joining groups in your industry and location. I have been able to develop a lot of great relationships with people after connecting with them through Linked In.
This particular networking event was held at the Firehouse in Bethlehem, Pennsylvania, and was part of a national event being promoted by Brazen Careerist. It was known as the Brazen Careerist Crowdsource Your Career Meetup.
Brazen Careerist is a networking group for young professionals that help each other build a network of their peers to share ideas …
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10 Mistakes Entrepreneurs Make
If you are an entrepreneur or thinking of becoming an entrepreneur, here is a great checklist of 10 common mistakes that you’ll want to avoid before you decide to start your own business.
- Thinking You Can Do It On Your Own — It’s very difficult to build a scalable business with just one person. Although some businesses such as website design, public relations, and other service-based businesses can survive individually, most businesses will need to ensure that they’re profitable enough to acquire hired help. To ensure that your business will be profitable, be sure to determine that your business has sufficient profit margins to bring in hired help.
- Asking For Too Many Opinions — Everyone has an opinion when it comes to a business and it’s easy to become confused or misled by so many differing opinions. To resolve that issue, build an “advisory board,” two or three people who
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Productivity Tip That Boosts Your Bottom Line
I recently received an email from Mike Michalowicz with a great tip to be more productive and boost in your bottom line. It simply deals with creating effective to-do lists. I’m sure everyone has a to-do list, but a simple twist on how it’s organized can really help you focus on items that help you earn more money and satisfy your clients.
First, write a list of all of the things that you would like to accomplish. This doesn’t have to be arranged by priority — just a list of everything. Add tasks as they come along.
Next, for all of the tasks that will help you generate revenue in the next month, put a dollar sign next to it. For all of the tasks that help serve your client base, put a smiley face next to it. Start off each day with the items that boost your bottom line.…
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Key to Closing Prospects
The process of converting prospects to customers seems like it takes forever. It may seem like you’re making phone call after phone call, sending emails, and making personal visits, but the client just won’t take the ultimate step and purchase from you. It can take weeks, sometimes even months, to close a prospect.
If you feel like you’ve done absolutely everything you can, but the client just won’t budge, you’re probably asking yourself, “what am I doing wrong?”
Here’s a tip that you can use to close that prospect: treat them like they’re already a client of yours. Most times we are so focused on closing the sale that we forget to talk about anything else but the sale. People don’t want to be constantly bombarded with a sales message, it’s irritating and unwelcoming.
Rather than following up with the customer with the “are you ready to buy” approach, …
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