By Trina Newby


Many women are so confused by the words - "Business Plan". What is it? Who do I show it to? Do I really need it? What is it really going to do for me?

A business plan is a written blueprint for your business. It describes a summary of what your business is about and it's goals. It also outlines how your business will function. The term "business plan" was first developed by bankers who wanted a detailed report of how a business would result in profits before they would make a decision on lending money. Today, no business banker will even entertain a business loan application without a business plan.

In a nutshell, the answer is yes, you really do need a business plan if you really want to build a solid foundation under your home-based business.

I guess the reason so many women procrastinate in doing a business plan is because they think they have to come up with some imaginary figures and statistics about their business which is of course very scary for anyone. This type of plan is known as an Executive Business Plan. This plan is shown to banks, SBA and other lenders who you may apply to for a substantial loan. Usually, this type of business plan must show a 3-5 year projection of how much money your business would make if they should lend you a specific sum of money. Although you will need this type of business plan should you wish to expand your business, the most important thing for you to know now is where you will be in the next 3,6,9 and 12 months. One of the best form of business plans to start out with is the "Working Business Plan". This plan answers the 5 "W's" - Who, What, Where, When and Why.

There is no pre-required length that a Working Business Plan should be. Just remember that you aren't writing to impress, you are writing to address the important issues of starting your business. This plan is just for your planning purposes and can be expanded later on into a full executive plan. The following outline will help you in processing your thoughts and writing your Working Business Plan.

1. Mission Statement - What is the goal of your business. What purpose does it serve.

2. Objective - What will the outcome be for your business as a result of your mission. (ex: K.G. enterprises will gross over $50,000 it's first year with a 5% error margin on its documents).

3. Management - Who will run the business and what qualifications does the person have. What additional skills or resources are needed? What are the names of others that might be able to serve as mentors or help you in grooming your business for success?

4. Service/Product - What products or services are being offered? How will they be produced. If you are selling a product, how much of the product will you need in stock? Do you have the start-up capital needed to purchase the produce? If no, how will you raise the capital needed?

5. Customers - Who are your customers? What area are they in? Is this a service or product they will want to buy? Do a typical profile of a repeat customer. 6. Competition - Who are your competitors? Where are they located? What are their prices? What services or products do they sell? How could you do better?

7. Marketing - How will you market your business? How much money will you need to market your business? How is your competition marketing their business? Do you need business cards, brochure, stationery, fliers etc.?

8. Office Set-up - What are your daily office procedures, what will you do each day that will result in the sale of your service or product? What bookkeeping system will you use and how often will you input your information in the system? Do you need a bookkeeper? What supplies do you need? What type of furniture do you need? What office equipment will you need? Where will your office be?

9. Finances - HOW MUCH MONEY WILL YOU NEED FOR THE FOLLOWING?

$ Your Income

$ Advertising/Promotion

$ Bank Fees

$ Business Insurance

$ Business Lease/Rent

$ Internet (include website, hosting etc.)

$ Supplies

$ Postage

$ Printing

$ Telephone

$ Training

$ Utilities

$ Marketing/Advertising

$ Equipment

$ Furniture

10. Networking - Who needs to know about your new venture and why? What contacts do you need to have? Why do you need to know them? What can they help you with?

Contact Management

Establish a good contact management system for yourself. Today, keeping a list of contacts on paper is not efficient. A good contact management software will be needed. If you currently use MS Office, you should have MS Outlook already installed and it will serve the purpose nicely. Other popular contact management software are ACT and Goldmine. Regardless of what contact system you have you must be willing to update your system at least twice per week.

Evaluate how you will manage you contact system. Make sure to schedule this in your planner or palm.

Establish a good contact management system for yourself. Today, keeping a list of contacts on paper is not efficient. A good contact management software will be needed. If you currently use MS Office, you should have MS Outlook already installed and it will serve the purpose nicely. Other popular contact management software are ACT and Goldmine. Regardless of what contact system you have you must be willing to update your system at least twice per week. Evaluate how you will manage you contact system. Make sure to schedule this in your planner or palm.

11. Sales - The number of clients you service or products you sale will give you a true picture as to whether or not you are having success with your business. But first, you must have a measurable sales goal in achieving this success. Start by evaluating where you want to be in sales for the first 3 months, 6, months, 9 months or one year. By doing this you will be able to re-evaluate your business plan every three months and determine if you need to improve in marketing etc.

12. Starting Date - Set a starting date for when you want to begin your business or put into place this working business plan. Make sure you have printed material available for all services or products offered. Also evaluate and follow-up with yourself daily for the first month to ensure that you are following your own plan. After 30 days, follow-up on a weekly basis and then monthly from that point on.

13. Remember, no plan will work unless you are willing to put it into action!

By Chris Le Roy


When many small business owners start out thinking about building a small business, they are often mislead into believing that the only document that they need to succeed is a Business Plan. In fact this plan is only one of seven documents every small business should have if they ever expect to survive let alone succeed.

Let me explain ...

Doc 1. Business Plan

The Business plan, which is what most accountants, lawyers and business coaches will say is the only document that you need is the first document you must complete. I certainly do disagree totally that this is the only document you need, because the actual roll of this document is to summarize the other six mandatory documents that you must have.

The size of your Business Plan document will vary depending on the size of your business that you are either buying or building. Your business plan should contain details on how your business will be run, how you will finance the business, what sort of profit you will make, how you will advertise and market your business, what your exit strategy will be from your business, what form you business will take, where it will be located etc.

If you are going to be buying a Business rather than starting up a new one from scratch, always ask the previous owner to see their business plan. This will give you a good insight into the inner workings of the business and how it got to where it is. One thing to note though, always make sure that regardless of whether you are buying an existing business or building your own, that you create your own business plan so you have a clear understanding of where you are going with this business.

Doc 2. Business Model

A Business Model is usually built using tools like Microsoft Excel or Microsoft Access. The model allows you to apply various scenarios to your business model to see what sort of outcome will occur. This is a fantastic tool for running scenarios and seeing what the outcome would be if certain conditions might occur, like your truck broke down or what would happen to your profit if a certain piece of machinery broke down for a period of time.

The Business Model is also very useful when dealing with organizations like banks or finance institutions. If your business model can show what impacts various factors might have on your business and that you can still survive, then the banks and finance institutions are more likely to give you the money you need.

Doc 3. Marketing Plan

The Marketing Plan document sets out how you are going to market your business. It includes information on the brochures you are going to use, the types of adverts you may use, the frequency of the campaign, the medium you will be using and so forth. The marketing plan provides an in depth look at how you will be marketing your business. Your marketing plan should represent 12 months of operations, that is, you should have developed all of your marketing strategies so that they flow on and build on each previous marketing campaign over a 12 month period.

Doc 4. Operations Plan

Your operations plan is designed to define exactly how your business is to be run. The operations plan should include how to do every task in your organization, checklists on what needs to be done every day, week, month and year. Essentially the Operations Plan defines how your business actually works.

The key advantage of your operations plan is that if at any time you lose a staff member, you can use the operations plan to teach your new staff members the tasks that they need to complete each day.

Doc 5. Sales Plan

The Sales Plan outlines how sales will be undertaken on a day to day basis. How you will be selling your products and services, who your target markets are, your approach techniques to new clients, any clients that you need to contact on a day-to-day basis and what your contact processes are. More so it should define what step-by-step process you follow to convert a prospect into a customer.

The Sales Plan should use flow charts and should also include any letters or marketing material that should be used for a particular sales process.

Doc 6. HR Plan

The HR Plan, sets out the Human Resource structure of your organization. It should include information such as position descriptions, who each person reports to, who they are responsible for, what tasks they are responsible for and any special duties they might have to do during the year.

The HR Plan should also have information in it such as Job Advertisement Templates, approved Position Descriptions and templates, Hourly Rates, Acceptable Work Practices and so forth. The HR Plan sets down how your staff must engage at work and what you define as being acceptable workplace behaviors in your workplace.

Doc 7. Style Manual

The Organizations Style manual sets out how you are going to present yourself to your customers. The style manual includes information on your logos, your business cards, the colors your business will use for its logos, banner layouts, how to place newspaper adverts and what colors must be used, what fonts must be used in Letters or Faxes. The style manual will also set out what information will go onto your business cards, where the logo will sit and what information must be contained.

The Organizations Style manual sets out how you are going to present yourself to the public and what standards you will use. If you have never seen a Style Manual before simply go to any large corporation's website and type in 'Style Manual' and you will generally find one available for review.

After 10 years in small business and a number of small businesses under my belt, the one thing I have learned is that if you do not have these 7 Plans and Documents done prior to creating or building your business, then they will never get done. The simple fact is that small business is incredibly demanding on the small business owner and once the business is up and going, it is highly unusual the owner will ever get the time to go back and create them. Without each and every one of these documents your business will lack focus on what you want to achieve and that is why 70% of all small businesses around the world fail in the first 12 months.

To finish off, I would like to take a moment to summarize the seven documents all small business owners should have before contemplating a small business...

1. Business Plan
2. Business Model
3. Marketing Plan
4. Operations Plan
5. Sales Plan
6. HR Plan
7. Style Manual

By Casey Gollan


Every one has heard of the term “Business Coach”. Do a search at Google, msn or yahoo on the internet and you will get over a million search results. They all say they can help you and your business. But what can they do for you?

And most importantly why do you need a business coach?

Listed below are 7 reasons why you, as a business owner, may need a business coach…

1. Not making enough profits
2. Give you some direction to marketing and selling your products
3. To keep you accountable
4. To fast track your success as a business owner
5. A shoulder to bounce things off
6. Hold your hand in the step-by-step process of growing your business
7. Finding the right people for your organisation

1. Not Making Enough Profit
Have you been in business for a few years and your business is now stagnant? Are you making a profit, but going nowhere? A business coach will teach you how to turn your business around and how to take your business to the next level.

What a business coach will teach you will apply not just to one business, but to all your businesses. You can apply the principles you learn to any business you own.

2. Give You Some Direction To Marketing And Selling Your Products
You have the ideal product, but as a result of advertising and marketing nothing is happening. So do you give up? No. Hire a business coach as he is an expert and will be able to help you.

A business coach will show you how to market your product and how to find the right target market. With the right audience you can market your products and/or services correctly. Once you understand the marketing procedures, you can apply them in the future to anything you wish to sell.

3. To Keep You Accountable
A business coach will keep you accountable for your business and what you should be doing to grow you business. He will be there to guide you each step of the way, while you put what you learn into practice. He will not do it for you. You will be. What you learn can be applied to any marketing campaign, now and in the future.

4. To Fast Track Your Success As A Business Owner
Just like a talented athlete you would use a business coach to give you structure and direction to guide you through the learning process of running a business.

A business coach will put you on track and show you what to do at the right times. He is your coach, mentor, consultant and advisor. He will make you and your business, the best. A world class champion business.

5. A Shoulder To Bounce Things Off
It can be lonely running your own business. You need someone that can answer your questions on all parts of your business and can help you bounce ideas and give you instructions and can look outside the square and give you a different perspective.

A business coach is like a silent partner. A partner who has a financial interest in the business, but you get to keep the rewards.

6. Hold Your Hand In The Step-By-Step Process Of Growing Your Business
Sometimes in business, you get to the point where you are a bit unsure of what to do next. You feel like you want to hit your head against a brick wall.

A business coach will give you the guidance and steps, on what is coming up and how you need to prepare things and what you need to do when you are doing it so that it can be more comfortable for you. A business coach is like a guardian angel. He is there for you every step of the way guiding you with a helping hand.

7. Finding The Right People For Your Organisation
A business coach will help you find the right people for you and your business. He will let you know the secrets of the correct way to recruit and how to attract the right people. You can use a recruitment agency, but they will hire the person they think would be suitable. And generally, they are not ideal.

A business coach will help you find the ideal person.

By Casey Gollan


Are you a small business owner ready to take your business to the next level? Would you like to increase your turnover? Would you like to go on holidays more often and know that your business is in good hands? Would you like to spend more time on the business rather than in it? If you answered yes to the above, Business Coaching is the answer.

So what does a business coach do? Here are 7 things a good business coach will do for you…

1. Teach you how to become a better business person.
2. Increase your business turnover.
3. Help you employ the right people for your business.
4. Systematise your business so that it can run without you being there.
5. Proven marketing and advertising skills to bring in a constant source of revenue.
6. Help you free up your time so that you can do what you enjoy.
7. How to keep your wealth.

1. Teach You How To Become A Better Business Person

A good business coach will help you become a better business person by showing you the right way of doing things. He will help you break old habits and create new ways of running your business successfully. He will not do things for you. You will. He will be there to guide and nurture you, so that you can successfully learn how to grow your business.

2. Increase Your Business Profit

Do you know what your hourly, daily, weekly or monthly breakeven point is? Are you working with your bookkeeper/accountant, or are they just giving you your final figures? Do you know how they came up with these figures?

You would be surprised at how many business owners do not know their financials. A good business coach will teach you how and where you need to increase sales and how and where to decrease costs. He will provide you with spreadsheets, etc to help you keep track of your business and watch your business grow.

3. Help You Employ The Right People For Your Business

Are your employees loyal to you? Do they enjoy their ‘job’ and do you enjoy working with them? Do you have concerns about them at all? Like most business owners you will have answered yes.

A business coach will help you recruit the right people for you and your business. He will let you know the secrets of the trade. You can hire the right person, without spending too much money or time using recruitment agencies, who hire the person they think, would be suitable. And generally they are not ideal.

4. Systematise Your Business So That It Can Run Without You Being There

If your number one salesperson or a key member of your admin team left today, what would you do? Most business owners would panic. But a business coach would show you how to systematise your business so if that ever happened you would be in complete control and know things will run smoothly, even if they are no longer there, and without you having to be there. He will show you the correct way of systematising your business and how to find the right person for you.

5. Proven marketing and advertising skills to bring in a constant source of revenue

Do you know who your target market is? Do you know the quick and easy way to get contact information from your leads, without realising how simple it is? Do you know how to get leads onto your web site? A business coach will show you how to get targeted leads, get information from them and keep them as long term loyal customers.

A business coach will also show you the correct way to write your ads and where to place them. He will show you the correct methods for all forms of media – online or off line.

6. Help You Free Up Your Time So That You Can Do What You Enjoy

Would you like to take more than 1 holiday a year and for as long as you want? Would you like to pay cash? Or perhaps you would like to spend more time with your family and watch your children grow up, with you, rather than suddenly realising, how quickly they have grown?

A business coach will help you. He will help you run your business so that you have the option of whether you want to be there or not. You take control and decide if and when you want to work.

7. Show You Safe, Proven ‘Short Cuts’

Business is simple, people complicate it!

There’s many paths you can take in business to be successful. A good business coach will explain many paths that you can take, and you can choose the ones that are right for you.

This will cut down on the time and money that you could possibly waste by learning from ‘trial and error’

By Ed Vegliante


Starting a small business without the aid of a credit card can be quite stressful. Since business expenditures can be add-up to significant tax deductions, it is imperative to separate personal expenses from work-related charges. Aside from the tax savings, a business credit card represents expanded options; particularly with the right card.

As with any financial product, not all business credit cards are the same. An annual statement is a popular feature of most business credit cards. Tallying up business related products and services are made simple with the convenience of recorded statements. Nevertheless, a good business credit card should have other features besides a balance sheet. Here are other features, to look for in a small business credit card:

· An exceptional credit line

· A low preferred business APR

· Extra business credit cards for employees

· Customizable business checks

· Custom cards with your business name

· Complimentary online account management

All of the above features can be mission critical to starting and conducting business. Review the following six benefits to finance a new company on a business credit card:

1. Easy Expenditure Tracking

Depending on the credit card company, a record of all transactions may be available annually or by request only. Small business credit cards offering free online account management is an important feature. The ability to check transactions and manage online payments simplifies bookkeeping. The same record can be used during tax-time to calculate profits and earnings.

2. Finance Business Needs With a Low APR

A low preferred business APR can ease the transition of being paid by new clients and covering unforeseen expenses. The financial stresses of starting a new small business can hinder productivity. Be it the cost of renting or buying new equipment, immediate expenditures can wreak costly distress on any business. A business credit card with a low APR can help offset the pangs of paying a balance over time versus right away. The best business credit cards offer a 0% introductory APR.

3. Control Employee Spending

To ensure that employees are conscientious about the company budget, additional business credit cards may control their spending. A business credit card with online management and additional credit cards enables a small business owner to track spending, maintain records and receipts. During conventions, Bill Amato’s sales representatives put in long hours. To compensate and track their meals, each of his employees has a company credit card. Bill uses Advanta business cards because it allows him the ability to control employee expenditures by tracking their spending transactions online.

4. Manage Client Expenses

For simple account management, small business owners can pay for products and services using a business credit card check. For instance, Jane Brody, proprietor of an event management company uses business credit card checks to pay for additional client expenditures. Since the checks are customized to her business and then made payable to the supplier for a specified job and client, she is able to track and tack on any additional fees to each customer’s invoice. Not to mention, each client is billed for late payment transaction fees.

5. Ensure Business Productivity

An exceptional credit line is useful for the fast growing small business that has to cover travel, new technology and other expenditures. A robust credit line can be the difference between staying in business and going out of business. The inability to access a line of credit without depending on a small business loan, can bring a growing company to a screeching halt.

In the case of new franchise owner, Jim Denko his new small business was just beginning to return an investment. On the down side, Jim required a line of credit so that he did not have to dip into the family’s money market account and emergency reserve. Because Jim was qualified for a small business credit card, he was approved with a generous line of credit. The availability allowed him the freedom to test out new inventory for his franchise.

6. Take Advantage of Extras

The ultimate business credit card can be found in the “extras.” For instance, certain business credit cards come with amazing discounts and special incentives. These advantages can add up to savings. Perfect example, Advanta business credit cards, not only come with a healthy credit line, the credit card is devised for small business owners to be successful. Many popular business credit cards feature generous cash back and travel rewards.

Small Business Advice: To minimize confusing your personal cost with the costs of starting a new business, apply for a business credit card that provides you with the tools to run a profitable business.

Copyright Ed Vegliante. Free online reprints of this article are allowed provided the resource box remains intact with a live link back to http://www.credit-card-surplus.com .

By Donald Lusan

• Have You Given Any Thought To Small Business Life Insurance?
• What Type Of Business Do You Own?
• Is your business a Sole Proprietorship?
• Are you part of a business Partnership?
• Is your business an S Corporation?
• What about a C Corporation? Is this how you incorporated?
• Have you taken advantage of the new Limited Liability Company laws?
• How about Key Employees?
• Do you have any employees that you can categorize them as Key Employees?

Small business life insurance as it applies to each type of business is different in many ways but there are also many similar features as well. What we are discussing here is not group life insurance but more specifically life insurance as it applies to the owners of each business and life insurance for the key employees. Let us take a look at each type of business and how life insurance could go a long way in protecting the business itself as well as the heirs of a deceased business owner.

The Sole Proprietorship.

Because the owner of a sole proprietorship and the business itself is considered one and the same one may think that the need for small business life insurance is limited. Nothing could be further from the truth. We put in a lot of time and effort building a business that has to be dissolved at our death. We do want to have this business transferred to a member of the family when we die. How can this be done?

The estate of the sole proprietor can sell the assets of the business upon his or her death. A small business life insurance policy can be bought during the lifetime of the owner the proceeds of which would be used to buy the business. A buy sell agreement, which would be binding, would determine the terms and the amount to be paid for the business.

Let us assume the proprietor is married and has a son or daughter who is interested in taking over the business upon his death. This young person has spent a lot of time learning the intricacies of operating the business from his or her father. So dad decides he wants to transfer this business to this child upon his death. He has a buy sell agreement drawn up by an attorney that would fulfill his desires. This agreement is funded buy a small business life insurance policy specially bought for that purpose.

The proprietors wife is not particularly interested in the business but if the business owner dies before her she will still need income. The proprietor dies. The proceeds of the small business life insurance policy is used to purchase the business from the estate and the wife has full value in cash. She can use this money to purchase an annuity that would pay her an income for a certain number of years or for a lifetime. Of course this decision will depend on the amount of money we are talking about here.

The Partnership.

The use of small business life insurance in a partnership is very simple and straightforward. The ownership of this partnership is in the hands of three partners. For the sake of easy explanation let us assume that that these partners own equal shares. A buy sell agreement would be set up that would state that the partnership would buy the shares of a deceased partner from his heirs. The buy sell agreement would be binding. The heirs cannot decide they don't want to sell. The partnership would buy a small business life insurance policy on the lives of each of the partners in the amount of the value of their shares. The proceeds would be used to fund the purchase. In some cases the policies can be owned by the partners themselves. The results are the same.

The Corporations.

Small business life insurance for c corporations, s corporations are limited liability companies is very similar to that of the partnership. The corporation usually owns the policies on the lives of the principals. Upon the death of a stockholder the corporation buys the stock from the heirs of the deceased. A small business life insurance policy is the least expensive way to fund the buy sell agreement. It is recommended that the insurance is updated on a regular basis and that the buy sell agreement is reviewed and updated from time to time...as it is binding.

Key Employee Life Insurance.

What state would your business be in if a key employee died? Have you given this any thought? In my 40 years in the life insurance business I have seen many interesting situations. Some businesses had no key employee life insurance on their valuable employees...much to their detriment. Others were prepared and things continued on smoothly after the death of the key employee. It is recommended that if a business has a very valuable key employee that they buy a small business life insurance policy on the life of that employee equal to about 5 years of that employees income. Upon his or her beath the proceeds of the policy is paid to the business and used to help keep the business going while the company finds a capable replacement.

By Blair Rhodes


What an exciting feeling you must be having at this time. You have finally made the choice to “chuck it all” and go into business for yourself. You dream of the freedom from your unreasonable boss and the wonderful feeling of writing your own paycheck. It’s a lifelong journey that has to start at the first step – the very beginning.

It is my goal to take everything all those books say and boil it down to a real action plan that is a simple as it can be. Basically making it like a recipe. You really don’t need all that filler; you just need to know how to get started. A bunch of fluff isn’t going to help; in fact it slows you down. Instead of reading, you should be doing!

This section will be those most difficult first steps of just getting started. Effectively launching your business and then growing it for success are their own unique steps in the future. For now, I’ll have to assume you have an idea already and have researched it enough to know that it is a good idea and has a bunch of customers clamoring for your product or service. Please be sure you have a good quality product and/or superior service. You are not trying to make a quick buck; you want to have a business that lasts.

I also have to assume that you already have some sort of support network in place, trusted friends, professional advisors like accountants and/or lawyers, and a maybe a mentor with excellent opinions. If you don’t have them, you can pick them up along the way. But you’ll need them all at some point.

You probably want to know what qualifies me for writing about this. Academically, I have an MBA in Entrepreneurship and Marketing. Professionally, I have been a consultant for many entrepreneurs, I worked at a home business franchise company for several years, and I have a few successful entrepreneurial ventures of my own. I even helped my own family launch a very successful online business selling premium pashmina and cashmere products. I’m not a super rich entrepreneur, but I’m successful and happy. My key expertise is online ecommerce, but the following ideas are relevant to starting any type of business.

How to Establish Your Business

This first part is really what most people don’t know how to do. It’s the fundamental process of actually setting up the business. All the good ideas in the world have to start at the beginning. It’s not the fun part, but it has to be done.

It may seem elementary to you, but why haven’t you done it yet?

So, let’s start from the start.

1) Giving Your Business a Name

Your business’ name is important. It is your customers’ first impression and your public identity. You probably want to choose a name that is professional, but also may hold some meaning to you and your potential customers. My personal and professional opinion is to not get too elaborate with your name. Make it simple and direct so you don’t have to waste a lot of time branding or explaining to your customer just what it is you do or sell.

For example, for my family’s business selling pashmina products, we decided to go with The Pashmina Store. There is no question what the business is. Simple and direct…and the URL was available (which is very important).

Most people have a desire to name their business after themselves, using something like their family name, their first name, or their initials. This is a perfectly acceptable; as long as you get the idea across about what it is you are selling. For example, if you are selling raincoats and your name is Smith, you may call your business Smith’s Raincoats or even Raincoats by Smith.

Take the time you need to select on a business name that you’re happy with, says what you do, and has a good URL for a website. You should run your name choices by your friends and family to gauge their reaction and to get their thoughts.

2) Register Your URL

I know, you just decided on a name and have nothing close to a legal business yet. But I suggest snapping up the best available URL (or web addresses) as soon as you can. In this day and age, your website and the URL will be a large part of you business identity. It will also be the source of your email addresses, so getting a good URL matters. We were lucky enough to get www.thepashminastore.com for the pashmina and cashmere business, I hope you are as fortunate for your venture.

It is best to investigate available URLs even as you decide on a company name. Try to get the URL of your exact business name, or as close as possible. I suggest getting a “.com” rather than “.net” or other since that is what most people know.

You can research names and register at websites such as Register.com and GoDaddy.com. There is a small fee, but it is worth it if you are serious about your business. These two services even will help you inexpensively set up and host a website and email service.

3) Your Business’ Legal Organization

Next, you will have to determine what legal structure is best for your new business. Early in a business’ life, a sole proprietorship is most common. However, it is beneficial to know the different types of legal business structures before you decide for certain. You’ll need to know all about them as you grow, in any event.

You’ll most likely want to discuss the options with your accountant and/or attorney as well. To get you started, here are the three most common forms of business.

1. Proprietorship. As mentioned earlier, this is the most popular structure when starting a new small business. It is also the easiest to start. In most states and cities, all it typically requires is a D.B.A. (“doing business as”) and a tax ID number, which would likely be your Social Security number.

A proprietorship provides you the maximum amount of control over your business…but it also leaves you the most potential liability. In short, you are personally accountable for your business and all of its debts and legal issues.

2. Partnership. This form of business is common if your business requires you to take on a business partner for expert knowledge or financial needs. A partnership is a legal definition of your business relationship and defines which party is responsible for what aspect of the business venture.

For example, you may be the engineering type who can make the product. Another person may be the talkative type who can sell sand in the desert. Yet another person may be the main financial backer. Whatever your circumstances, a partnership allows you to define each person’s part in the business and put it down on paper in a legal manner.

3. Corporation. This is the most official and potentially complicated legal form of business. This is also the most expensive type of business entity, but it does provide everyone involved the least amount of liability.

It is very common to start as a proprietorship or partnership and then change to a corporation after the business is established and growing.

4) Business Registration

Again, most likely you will start as a sole proprietorship. The process is very simple and inexpensive. But the process can vary a bit between states and even cities and counties.

The goal here is to get your business name registered as a D.B.A, or “doing business as”. You will need this in most areas to open a business checking account. The fees are typically minimal, but vary on your location. Your County Registrar is most likely to be the office you will need to contact to ask about what the process is to get your D.B.A. The methods will vary by location and in some rare instances you may not even have to register. Just be sure to ask about all of the steps to make sure you’re covered.

After you have made some calls or used the Internet to find out the steps in your area, you will most likely need to go fill out paperwork at the government office that handles the registration. The good news is that the paperwork is generally light and the wait is not too long. They or you will be responsible for checking to make sure the DBA name is not already taken, and in many cases you will be able to check on the Internet before you even go.

After the paperwork and name check, you will have to pay a fee, which is generally small. Once it is all done, be sure they give you a notarized copy of your registration as you will need it at the bank to open a business bank account and possibly for other things.

I wish to remind you that what I offer are general guidelines and information to help get you started. It is always a good idea to discuss your options with an accountant or lawyer to determine what is best for you and your individual circumstances.

5) Obtaining a Business Address

This is a step that you can skip if you simply plan to use your home address or an existing business location as your address. But in most cases, you’ll start working out of your home and probably wish to protect your privacy and create an aura of having a larger business by getting a new business address.

This process is as simple as going to the post office or a private mail box center (PMB) such as The UPS Store. I suggest a PMB over the post office because you can usually use a street address and list your box number as a “suite” to help create a more positive image versus having your address be a P.O. Box number.

6) Your Business Phone Numbers

Like the business address, you can skip this step if you plan on using an existing phone number. But you should consider adding a second phone number to your home or office to be used just for your new business. You can even get what is called an “overlay” and put a new phone number on top of your existing phone. It will go to the same phone as you have now, and in most cases you can assign a different ring tone so you know it is for the business.

A toll-free number is also an important item to have, but you don’t have to have it right out of the gate. But studies show that customers are more likely to contact you if you have a toll-free number. They are not that expensive to set up and the charges are based on usage, so if you use it a lot you should be getting more than enough business to cover the expense.

Remember that you phone voice is important. Talk with a smile – the customer can hear that smile. Be sure you have a pleasant and professional sounding message for your voice mail as well. And call back your customers who leave messages as fast as you can. Your competition probably isn’t taking care of them fast, so you should.

7) Business Banking Account Formation

Having a separate business banking account is advised since it will help you keep your financial records straight. It will save you a lot of time during tax season to keep your business and personal spending separate. I suggest using a larger bank, such as Bank of America or Wells Fargo, which serves the business community. They will offer a wider range of services and possibly be a good source of business loans to help fund your growth.

You may want to call several banks in your area to compare their small business service options and the associated fees. Once you decide on the right bank for your needs, make sure you know what paperwork to take when you open the account. In most cases they will require at least your notarized D.B.A certificate.

8) Logos, Business Cards, Letterhead and Such

Some people may tell you to invest lots of money upfront to develop a great logo and then put it on expensive letterhead. These people have never started a business on a budget. While you do want to appear professional, you can do just fine with your own computer and printer while you wait to grow big enough to afford such materials.

Most likely your word processing program or other such program already has a letterhead template. That is fine to use for now. Choose a nice font for your new “logo” and use some color for it, if you wish. Do purchase some nice paper to put it on. Then simply print out as needed.

On your letterhead, make sure you get all of your important information across in a professional way. In general, you’ll want to include your business name, mailing address, phone number, fax number and email address.

The same goes for business cards and envelopes. You can buy nice envelopes and business card stock and use your existing program templates to create professional materials as needed.

Having a designed logo or company motto on your letterhead is a personal choice. Make sure it looks good and reflects the business. Also make sure it looks good when it is made very big or very small since it will be used in various formats.

The Next Steps

Once you finish Step 8, you’re in basic business shape. It is difficult to tell you what to do next since there are so many types of business and different ways to go about it.

In general, you’ll need to start letting people know about your business and getting customers. This may mean developing a website that sells products or promotes your services. It can be as simple as handing out business cards to everyone you meet. Or maybe it is “pounding the pavement” and meeting people to tell them what you are doing.

But there are a few things to keep in mind that relate to any business. The Nike slogan has it right when they proclaim “Just Do It.” Nobody is coming to you, so you have to reach out to them. And it takes time and effort. Yes, you do have to “work” and “sell” no matter what those advertisements may promise for their wonderful business opportunity.

Here’s the “secret” to success: You will have to work harder than your competition, treat your customers better than your competition, offer a better product and or service than your competition, just plain be better than the rest. Yes, that is the secret!

My first job out of college was as an executive recruiter, a headhunter. I was successful at this job. In fact, I was one of the tops in the nation. It wasn’t because I was naturally better than anyone else, it was because I worked harder and I worked consistently. Have a plan for the day, the week, the month, the year…and do it consistently. Get into a routine and stick to it. You’ll get sidetracked along the way, of course, but keeping your efforts consistent will pay off. You’ll make you own “luck.”

Since you are your own boss, you do have a little luxury to make a schedule that fits your lifestyle. If you want to start at 10:00 AM, or play golf for lunch, or work late at night, that is fine. But stick to the schedule and make it your routine. This will help you get over the initial feelings of being scared and overwhelmed and start getting you comfortable with your new professional life and on your way to success.

Along the way, you’ll start to discover what your strengths and weaknesses are. You don’t have to be an expert at anything really; you just have to be average to above-average at a lot of things as an entrepreneur. If there are glaring weaknesses in you business skills, you simply have to work at them. You can read a book, take a class, whatever…but you’ll naturally get better each and every day just by doing your business.

Finally, do not get so frustrated in the beginning that you quit before you even get started. Depending on what you start with and what (or who) you already know it is going to take some time. Even minimal success is probably going to take several months and maybe a year or more. Make sure you are mentally and financially ready for at least a year.

If you’re not ready now, don’t worry. You now know the steps and what to expect to even get started. It is better to take you time and be well-prepared than to rush off and make a mistake that you will regret for years to come.

Launching and growing your business are the essential main steps 2 and 3. But those are whole other beasts that are best discussed at another time. Until then, I wish you the best of luck and hope that your new business is an incredible success.

By Stacie Leonard


Although it may seem like a new word, the term e-business was hatched back in 1997, making it no spring chicken. Considering the fact that it describes an entirely new way of conducting business, however, it is safe to say that it’s still in its early stages of use. With every turn of the page you’ll see the term defined in a different way, shape or form. Perhaps this is because it describes such a large scope of processes, ranging from sending out a newsletter to selling an Audi online. So, what exactly is e-business and what does it mean to the future of a business owner?

E-Business Defined

The United States Census Bureau defines e-business as "any process that a business organization conducts over a computer mediated network. Business organizations include any for profit, governmental, non-profit entity. Their processes include production-, customer-, and internal or management-focused business processes." In a shorter broader sense, e-business is the process of conducting business electronically or over the internet. Electronic mail is e-mail, electronic commerce is e-commerce, and following this formula, electronic business is e-business. Every time business is conducted over the internet, e-business takes place and as the internet grows, so grows e-business.

Where Does E-Business Take Place?

E-business is offered to all users via the internet, to internal users via an intranet (similar to the internet, an intranet is a smaller network of computers usually within a single organization), and to specified users via an extranet (an intranet partially accessible to specified users from outside an organization via a valid username and password).

Three Main Types of E-Business

1. Business to Consumer (B2C)

The most widely recognized form of e-business, B2C is the exchange of information, products or services taking place between a business and a consumer over the internet. As the internet develops, B2C is continually changing the way consumers acquire information, the way products are compared against one another and the way in which they are purchased.

An example of a B2C only site is amazon.com. Ae.com is an example of a B2C site housing a physical location as well.

2. Business to Business (B2B)

The largest form of e-business in terms of money spent is B2B. Business-to-business allows trading to take place between businesses, using a low-cost sales channel for the sale of goods and services and is responsible for constantly changing corporate buying habits.

An example of a B2B site would be a car part company selling parts to a car dealership, another company, rather than directly to consumers.

3. Business to Government (B2G)

B2G is the online exchange of information and transactions between businesses and government agencies, also known as e-government. B2G allows government agencies and businesses to use electronic means to conduct business and interact with each other over the internet.

An example of a B2G site would be one that offers electronic tax filing.

E-Commerce and its Relation to E-Business

The United States Census Bureau defines e-commerce as "any transaction completed over a computer mediated network that involves the transfer of ownership or rights to use goods and services. Transactions occur within selected e-business processes (eg. selling process) and are ‘completed’ when agreement is reached between buyer and seller to transfer ownership or rights to use goods or services." So while e-business covers the entire range of online business dealings (from customer service to selling), e-commerce refers specifically to one entity paying for goods or services from another entity via the internet. With this in mind, remember that e-commerce can relate to all types of e-business involved in the transfer of goods or services, including but not limited to B2C, B2B and B2G.

By Walt Gibson


Although challenging, it is possible to start a cleaning business within two weeks. If you have customers already waiting for your services you can start cleaning in a few days, then word of mouth and a direct mail campaign will increase your customer base. Keep in mind that obtaining new customers for a cleaning business can be time consuming and costly. In addition, your costs will rise considerably if you purchase liability and worker’s compensation insurance. If your goal is to earn a substantial living solely from your house cleaning business, then you must reinvest earnings into the business in order to increase customers and income. Growing your cleaning business into a professional operation that can compete with cleaning franchises is possible!

How to start a cleaning business with minimal investment and maximum return.

The article "Are You Ready” at MaidDocs.com tells you what to expect during your first year of running your own cleaning business. After reading the article if you are certain that you still want to start your own house cleaning business, then visit all of the websites listed at the end of this article to learn about government regulations, taxes and licensing, and professional cleaning business forms. You will also find information about how to establish ownership of your cleaning business (corporation, LLC, or sole proprietor.)

Decide on the fee you will charge for your cleaning services. Research the local market to determine what your competitors charge. You must remain within the local standards, and you can undercut your competition slightly; however, if you charge significantly less than the competition you may end up with low profits and a heavy workload -- defeating your business goals. Keep your prices within local standards so that as you add employees you will not need to raise prices and thereby lose customers. If you want to offer significantly lower cleaning fees than your competitors you should advertise time-sensitive discounts (i.e. $50 off a deep cleaning until the end of next month.)

The name and logo for your cleaning business require thought. Your cleaning service business should have a polished and professional image to compete in the marketplace. A professionally designed logo will help to brand your company in the public's mind. Your logo will be printed on business cards, marketing pieces, letterhead, car signs, etc., so carefully consider the image you want to present, and then choose a name and artwork which will best reflect that image. Be certain that the business name you’ve chosen is not already in use. At LogoYes.com you can create a logo online for only $99.

Before you start your own cleaning business be prepared with customized, professionally written cleaning business forms and letters. You should have: a sales script memorized to perfection whether you do in-home estimates or estimates by phone; cleaning fee estimate calculator; fee estimate letters; follow-up letters for quotes not booked; new customer letters stating hourly fees for cleaning services and payment policies; a customer database and accounting system set up and ready to accept information; customer information sheets listing vital details for account; cleaning service checklist form to leave with customers at every service; customer survey forms for every new customer to complete and return; and complaint response letters and forms ready for mailing just in case a customer is dissatisfied.

To obtain your first customers you can advertise under "services" in the classified section of your local newspapers. Keep it short and ad your logo if you can afford to. Your ad might read “Quality housecleaning with integrity. Call ###-#### for a free estimate.” $25 - $100 should cover running your ad for 2 weeks depending upon your location and size of the ad.

It is of utmost importance that you have a voice-mail system with a professional message which reflects your business image. Also, your phone system should capture incoming numbers as callers may not leave a message, or may forget to leave their phone number. Be certain to return calls within 2 to 3 business hours. Because most people have sufficient home or mobile phone systems the cost of this will not be included in our general start-up estimate.

Marketing pieces may be hand delivered or mailed. Your choices are door hangers, brochures or postcards. We prefer brochures or postcards rather than door hangers because they can be used as handouts and as mailing pieces. You can develop your own brochure or postcard using Microsoft Publisher software, or you can purchase a pre-designed template. The pieces can be printed in-house if you have a high quality printer, or printed at a local print shop or copy center. PIP, Staples and Office Depot all have high speed copiers that will produce professional quality marketing pieces at very reasonable prices. Insist on seeing a sample from the copier before you have the job completed. You MUST deliver high quality marketing pieces in order to make the best impression on your prospects. Flimsy paper with lopsided print, ink rubbing off and jagged edges is not the professional image that will make your prospects eager to call. $100 should cover your costs for 100 brochures, 200 postcards, or 250 door hangers.

Magnetic car signs are a great advertising tool which can be made by a local sign maker for $25 to $50 a set, plus an initial set-up fee of approximately $60. Be certain that your signs fit on both compact and full size cars and that you use no more than three colors. When designing your signs keep in mind that bold lettering and brief wording works best. Remember to include your logo for name branding.

For around $100 you can purchase cleaning supplies at your local discount center, grocery and dollar stores. Either store or brand name household cleaning products will work, however, compare the percentage of active cleaning ingredients. Avoid products containing bleach as it can cause damage to carpets and counters. Our preferred products are: Murphy’s Oil Soap; Pine-Sol; Soft Scrub (lemon or orange); Scrub-Free mildew remover; all purpose cleaner; furniture polish; toilet disinfectant/germicide; glass cleaner. Purchase mops with machine washable heads; both large and medium size sturdy buckets with handles; a large sturdy caddy; 40 white cotton washcloths for cleaning; medium and large scrub brushes (use old tooth brushes for detailing around sinks and in grout); toilet brush; teflon scrub pads; lambs wool dusters; extension wand; 13 gallon kitchen trash bags; and a 3-step ladder.

Commercial grade vacuums start at around $250 and are well worth the investment. We have found that Royal brand commercial vacuums, crafted with die-cast aluminum, are the longest lasting and they out clean the competition. Available in several models, Royal commercial vacuums are available through VacLand. Visit VacLand.com for the best prices, reputable salespeople and 2 - 5 day nationwide shipping.

When you’re ready to hire employees for your cleaning business be certain to have your employment application, employee policies handbook, cleaning procedures manual, warning certificates and all of the appropriate human resources paperwork. With strict policies and procedures to follow, your employees will know that they are working for a professionally run company, and therefore will be less likely to take advantage of you. Also, you will need to keep employee files containing tax paperwork and employment history including a record of verbal and written warnings. To obtain the appropriate tax documents for employees contact your accountant or local state employment office.

Start-up Costs

$100 - Bonding insurance

50 - Business license

175 - Cleaning Business start-up package

50 - Classified ad

100 - Logo

110 - Car signs

250 - Commercial grade vacuum

100 - Marketing pieces

100 - Cleaning supplies

$1035 - Minimum estimated costs to start a professionally run cleaning business*

*Minimum estimated costs exclude liability insurance, phone expense and marketing piece distribution as these costs are undetermined. Also, costs may vary slightly depending upon location.

Before You Start a Cleaning Business:

Obtain your local & state business licenses; bonding insurance, and liability insurance if needed. Prospective customers will ask if you are licensed and bonded. Bonding insurance can be obtained for about $100 which will cover $1,000 - $3,000 of anti-theft coverage. You business license is an annual expense and will cost approximately $50 - $150 depending upon your location and annual revenue. (When you hire employees you may also need worker's compensation insurance.) The Small Business Administration is a great source of information, start up paperwork, free business plan templates and links to other informative websites. http://sba.gov/starting_business/startup/guide.html

State tax information can be found at http://www.taxadmin.org/fta/link/forms.html which provides links to the Department of Revenue for every state.

Other Websites You Should Visit:

The Internal Revenue Service: http://www.irs.gov/businesses/small/index.html - the IRS website offers a wealth of information for small businesses. You'll find start-up guides, information on tax credits and business deductions, advice on record keeping and choosing an accounting method, employee tax issues, and more. The most up-to-date tax information is available through the site, as well as forms, publications and instructions for filing taxes.

Cleaning Business Forms and More: http://www.MaidDocs.com/shop - provides free information for cleaning service businesses, both start-up and established. You can purchase an entire cleaning business system, or an economical start up package which includes a cleaning fee estimate calculator; lists of resources; a full color tri-fold customizable brochure, and over a dozen customizable forms and customer letters. There is also a guide to hiring and managing cleaning business employees, an employee handbook and cleaning procedures manual; performance reviews and warnings; and a payroll template.

Business Law: http://www.businesslaw.gov - Complying with business laws and regulations can be a burden. To help small businesses overcome this, the Small Business Administration (sba.gov) in cooperation with multiple Federal agencies developed BusinessLaw.gov, an online resource designed to provide legal and regulatory information. Topics covered on this site range from choosing a business structure to hiring an attorney. The site also provides links to federal, state and local agencies.

Employment Law: http://www.dol.gov/asp/programs/EmpLawGuide - This guide describes the statutes and regulations administered by the Department of Labor (DOL) that affect businesses and workers. The guide is designed mainly for those needing "hands-on" information to develop wage, benefit, safety and health, and nondiscrimination policies for businesses in general industry.

By Rebecca Game


Working with a bank to obtain a small business loan can be an easy or difficult process, depending on how prepared you are to meet with the lender and discuss your business' situation and needs.

One of the leading causes of business failure is insufficient start-up capital. Ironically, though, lenders rarely approve loan requests for the businesses that have the highest need for a small business loan. Instead, lenders tend to prefer to offer small business loans to those businesses that have been in operation for two or more years.

According to All Business, it is estimated that 95 percent of all entrepreneurs opened their businesses with capital from their own pockets, or from money they borrowed from relatives, friends, or another person in their community. Lenders want to see business owners risk their own funds in the business venture, and often require that the business owner or owners provide a minimum of 25 percent of the capital needed to start a business, and at least that much equity in the business if the business is already in existence. Simply stated, lenders aren't as willing to take a risk when a business owner doesn't even risk their own money in the investment. Businesses with a history demonstrating success in paying their bills for two and a half to three years will have the easiest time obtaining a small business loan because they've proven their ability to meet financial obligations.

Preparing a Small Business Loan Proposal

When preparing to apply for a small business loan, be prepared to face the facts that are against you, and use them in your favor. Persistency is necessary if you want to land a small business loan. Lenders follow certain criteria to determine if the small business loan is a wise investment for the bank. Most importantly, the bank will determine if the small business loan is likely to be repaid. As with other businesses, banks and other lenders must answer to their investors and stockholders, and unpaid loans show instability in the bank or financial institution.

Items compiled into a small business loan request include the following:

- Amount of money requested

- Likeliness of business profitability and demonstration of cash flow needed to service a small business loan

- Collateral, if any is owned by the business

- A reasonable balance between debt and equity

Know Your Banker

Whether you have a start-up small business or an established small business, the first step in obtaining financing through a small business loan is to develop a business relationship with your banker. Consider asking your bank's manager to open a file for your business, and provide quarterly or yearly profit and loss statements. When your business is in need of financing, the bank will already have a file and will be at least somewhat familiar with your operations. When the time comes to apply for a small business loan, approach the banker with a solid business plan to inspire the lender's confidence in your business. Provide information on business operations, marketing efforts, management ability, and financial projections for three years, as well as a cash flow projection and personal balance sheet demonstrating the worthiness of the business.

To prove worthiness for a small business loan, prepare proper documentation. Keep your credit reports as clean as possible. A lender will assume that you operate your business in the same manner that you manage your personal finances. The lower your credit rating, the slimmer your chances are of obtaining a small business loan.

When applying for a small business loan, search for a lender by first approaching the bank or banks in which you currently do business. Since you'll need to share all of your personal and business financial information, it can be beneficial to apply with a financial institution that already has that information on file and is perhaps familiar with your profile and spending habits. If your credit rating is high, your changes are good of being approved for the small business loan.

If you are unable to work with a bank or credit union in which you currently do business, or if you'd prefer not to work with your bank or credit union for your small business loan, look for a lender who wants your business. Search the business section of your local newspapers for special financing offers on small business loans and other loans. These lenders are actively looking for people needing small business loans, and the process of obtaining a small business loan with these types of lenders may be easier and faster. Additionally, check into credit unions. Because credit unions tend to be smaller financial institutions, you may be able to speak directly with a loan decision maker. Larger banks and other types of large lenders may have more rigid rules for small business loans, and the processes that they employ may be more complicated for small business loans.

If, at First, You Don't Succeed

If your first attempt at obtaining a small business loan fails, don't be discouraged. Small business loans are often not approved with the first lender that you approach, and be assured that you're not alone. Especially if you have a start-up business, lenders don't always approve small business loans, even in the most ideal situations. Search for other lenders, or become resourceful and look into other sources for loans rather than a small business loan, including home equity loans and personal loans, both of which can be used for business purposes.

By Corey Pierce


If you are a business owner the task of obtaining business capital can be very daunting. Most businesses fail because they have never been taught how to obtain financing and therefore they have no clue where to begin. The Small Business Administration reports that 97% of business loan applications fail.

The importance of seeking expert assistance when setting up business credit has many business owners turning to a business finance coach to help them establish their business credit. One of the biggest mistakes made by business owners is that they attempt to obtain business financing using their personal credit. You should never use your social security number to obtain business financing. Personal credit has to be separated from your business credit.

Until your business has three separate business credit scores, any financing that your business receives will be based solely on your personal credit scores and your personal assets. A good example of this would be if you wanted to buy a home, but you had no personal credit scores. You would get declined, and funding a business is no different. You need to have business credit scores established to even get looked at for a business loan. Having business credit scores established are just a start in the finance process. There are 20 other items that must be in place before you apply for business loans.

The process of establishing business credit is much more complicated than setting up personal credit. There is one business credit agency that will try to charge you $500 just to open your credit file. You do not have to pay it, and a good business finance coach will show you why you don’t have to pay it. A good finance coach will set you up with all three reporting credit agencies as well.

A business finance coach instructs business owners in a step-by-step format on exactly what they must do to get their business ready to be approved for financing and how and why to build the business credit scores they need to get approved. A coach will show a business how to not only build business credit, but to build good business credit that the banks and other lending agencies will use to approve your loan request. A good finance coach will typically direct you to sources for business credit cards, vendor lines of credit and for other creative forms of financing.

To find a business finance coach to help your business build excellent business credit scores you might go to your favorite search engine Google, Yahoo, or MSN and do a search for the phrase “business finance coach”.