Tag Archive: business


The Bank Said No! Now What?

Currently banks and financial institutions are not giving out loans as freely as in years past. If you have not saved your own money to start a business you will need help. If the bank turns you down, what is next?

  1. Get a current copy of your credit report. Review the report thoroughly.  Dispute incorrect information. Check www.annualcreditreport.com for a credit report from Experian, Equifax and Transunion. The reports are free from this site. There is a fee if you want your FICO score.
  2. Catch up all past due accounts.
  3. If your debt is overwhelming, get help.  Call your local credit counseling agency or the credit company directly. Creditors want your business and are open to making arrangements to help get your debt reduced.
  4. Stop charging. If you cannot afford to pay cash for an item, then save for it. While starting a business, every penny counts. Make a budget and stick to it.

This is a personal choice and should be researched in-depth before a decision is made.

Sole Proprietorship -Using your legal name. In some cases you can choose a business name and file a DBA or Doing Business As. You are personally responsible for the liabilities of the business

LLC (Limited Liability Company) -Your personal assets are protected. It is basically a mix of a corporation and sole proprietorship.  Your business income is filed along with your personal. When taxes are filed, include a Schedule C

Corporation– Dictionary.com describes a corporation as an association of individuals, created by law or  under authority  of law, having a continuous existence independent of the existences of its members, and powers and liabilities distinct from those of its members.

In my opinion, a sole proprietorship or LLC is easiest for a small business. Before making a decision, weigh the pros and cons of each entity. Also consult and advisor, mentor, lawyer and/or accountant to find out which structure may be best for you.

Accounting  http://www.yoursimplebookkeeper.com/

Legal http://www.legalzoom.com/

Mentor http://www.score.org/

Start Up Costs

An entrepreneur should not go broke starting a business. Make sure you buy only the essentials for your business. Look for deals and discounts wherever possible.  This is a list of expenses may apply to your home business

  1. Legal fees -Local business licenses and trademarks.  Do your research and find what licenses are required for your business type. Register your business name. You may also want to trademark your name. Check www.legalzoom.com for online legal services
  2. Website and Logo- If you are not a designer, hire a professional.  Your website and logo attract customers and represent your image. Check out www.diva-designz.net. The company offers a full range of web and graphic designs at reasonable prices.
  3. Advertising – Use social media in the beginning to keep costs down (Twitter, Facebook, Myspace…). Do an internet search for free online ads. Tell family and friends. Make flyers and business cards or use www.vistaprint.com. They sell a range of low-cost advertising and promotional products for business and personal use.
  4. Office supplies- Purchase the basics such as pens, computer paper, paper clips and even file folders to keep records organized.
  5. Accounting- It is imperative you keep accounting and tax information in order.  Accountants make sure your business starts out in a good financial position. Consult a professional before you launch. Check out www.yoursimplebookkeeper.com. The company provides affordable virtual bookkeeping and accounting services for small businesses.

Cash is the last key. Make sure you have money in savings for unexpected expenses. A successful business woman will have all of these in place.

Recently I was asked the question, “What are the most important things in your life”?  I did not think long.

1. God is number one. ALWAYS. I awaken daily thankful for my life. I pray my life is pleasing in his eyes and I am doing the job He placed me here to do.

2. Family and friends play a major role in my life. I have 2 beautiful children that keep me on my toes. My family and friends keep me grounded. It is gratifying to know I have people in my corner supporting and loving me unconditionally. My Bestie makes me laugh, listens to my struggles and is an all-around Ride or Die Chick.

3. My Blackberry is a sick obsession. Is there counseling for Blackberry abuse? It sleeps beside me every night. Seriously! It has all 7 of my e-mail accounts, WordPress, Twitter, Facebook, MySpace, LinkedIn and much more. My Berry is helpful for my business and personal life. I graduated from sticky notes to my Blackberry memo pad and trust me, it is full.

4. My calculator is an item I did not realize I used so much. I use it for school. I have 2 Math classes this semester. Not happy about them! I would not make it without my trusty Texas Instrument Wal-Mart special. I keep my calculator in my bag. I use it weekly when I am going over bills. I also use it to make sure I stay within my household budget.

5. My dreams make me who I am. My dreams can only be accomplished with hard work. My dreams make me look toward the future. All I see is good times and success. FAILURE IS NOT AN OPTION!

What is most important in your life?

Easy Home Based Business

Tired of waiting for the economy to get better? Why not take control of your future and learn how to make extra income online and become a La Bella Baskets Consultant? With the kids back in school, La Bella is perfect for stay at home moms

With La Bella Baskets, it’s easy to start, and market our gift baskets, flowers and cookie bouquets. After all who doesn’t like to receive a beautiful gift baskets, flowers or delicious cookie bouquets delivered to their front door!

The best part of La Bella Baskets is that anyone can start today.

* No need to create a website
* No delivering of gifts
* No products to buy
* No quotas
* No parties are required
* No stocking of inventory

How Does Our Program Work?
1. La Bella provides you with a beautiful website with over 400 gourmet and specialty gift baskets.
These gifts are loaded on your gifting store with your own shopping cart. No need to figure out all the details. Within minutes you can start taking orders.

2. Customers visit your gifting store.
They can shop for affordable beautiful gifts and receive all their gifting needs and place orders. No more running around trying to find out what to buy for birthdays, holidays and special occasions.

3. La Bella ships to your customer within 24-48 hours.
They work behind the scenes in the warehouse taking the shipping, assembly of gifts and other burdens off your shoulders. The company also makes sure all packages are professionally prepared.
You DO NOT have to stock any inventory
You DO NOT have to buy any products
You DO NOT have to deal with shipping
You DO NOT have to collect money

4. You generate a nice income!
That’s it! Pretty simple!

You Enjoy:

* Bi-monthly payout checks
* Flexible Hours (work at home anytime)
* Earn 20-35% Commission
* Leadership Positions, Bonuses & Referral Bonuses
* Free Prescript and Pet Card

You can start your own La Bella Baskets online today by signing up for our 7 day jump start program of only $1.97.

The 7 days jump start program gives you full access to our membership. You will receive your own online store, training and support. There are no contracts or quotas. It’s a simple business and you can work as much or little as you want.

After the 7 days, if you wish to continue with your gift basket and flower career at home, there is a small membership fee of just 19.95 a month and that’s it!

The low monthly fee of $19.95 covers:
* Live Training Calls & Archived Audios Available 24/7
* Professional customer service support 8 am to 7
pm EST, Mon – Fri
* Support Toll-free numbers for you, the owner, and your
customers
* Full website hosting and maintenance
* Professionally-designed marketing materials
* On-going marketing tips
Join my team today when you click on the link below :

http://www.mylabellabaskets.com/daphniem.html

Feel free to ask me any other questions you may have about owning your
own La Bella Basket business.

E-mail: labellabasketsnc@yahoo.com

Your own store is just a click away!

I have not made many recent updates to my blog. School is in session again and I loaded with homework daily. Education is an important part of becoming an entrepreneur. I understand formal education is not for everyone, but please make an attempt.

1. http://www.score.org-They provide great information for entrepreneurs.
2. Online education-Life is hectic with work and family, but many community colleges and 4 year universities now offer online courses.
3. Read! Educate yourself. Whatever business you want to start, read everything and anything you can find out the subject.
4. Search the internet Bookmark sites that provide information on your industry
5. Trade magazine-There is a trade magazine for every industry.
6. NETWORK!-Network with women in the same industry. Find a knowledgeable mentor.

As an entrepreneur, being aware of your industry is crucial. Educate yourself,then sell yourself.

25 Ways to Save Money in Your Home-Based Business – Entrepreneur.com.

Recycler.com : Pajama Job

Recycler.com : Pajama Job.

Network! Network! Network! This is my personal list of social networking site for women. Network will provide great friendships and possible customers. This is my personal list of social networking sites. Not all are business related, but they feature extraordinary women

1. http://mlmblackwoman.ning.com/ -Join our Social Network for Women of Color in Direct Sales. Explore and Share!

2. http://mybbwo.com/ A Social Network for Women in Business, Women Entrepreneurs, and Bloggers

3. http://nawomenrise.com/ To bring smart business related strategies, support and tips to aspiring & existing women entrepreneurs.

4. http://womenentrepreneurs.shepreneur.com/ Magazine for Women in Business

5. http://womenspeernetwork.com/ Internet Marketing and Personal Development

6. http://diversitywoman.ning.com/ Executive network for women of all races culture and backgrounds

7. http://divas101.ning.com/ DIVAS are Spirit-led, purpose driven & mission focused individuals.We are Strong Independent people who have a great appetite for success.

8. http://nbwenorg.ning.com/ We are a diverse, innovative, emergent organization seeking enthusiastic members and alliances with organizations who cater to womenpreneurs

9. http://workathomedivas.ning.com This site was created to support work at home divas and those seeking legitmate work at home or business opportunities.

10. http://sweethorn.ning.com/ We collectively share an arsenal of marketing strategies. This is a community where businesses and community connect!

11. http://divahype.ning.com/ A community where women support each other, through networking,building relationships,gain resources to grow in their business

12. http://theceomamma.ning.com/ social network for women entrepreneurs

13. http://www.homebasedpreneurs.com This Network is for Serious, Inspired, Motivated. Homebased Business Owners. Joining Together Makes a Difference.

14. http://fabbygirl.com/ A community where fabulous women voice the latest on beauty, fashion, celebrity news, lifestyle, relationships, and more.

15. http://www.astonishingwoman.com/ The place for the woman entrepreneur, her business and every other aspect of her life!

You have an idea. Now what? You need a business plan. Your business plan is your dream, idea, plan, product or service on paper. Not all business owners have them, but to be a success your vision should be in print. If you are looking for funding from a financial institution, a business plan is a must. The lender will need to know if concept is valuable and profitable. There is no standard content for a plan, however there are a few topics the plan should cover.

*Executive Summary–The basics. What is your vision?
*Company Summary–A detailed description of the company. Include a short history of your industry
*Business Description–What do you offer? What makes your idea stand out?
*Market Analysis-This is your market size, how the business will grow, your profits and more
*Strategy and Implementation-How will you make money with your product or service?
*Management Summary-Who are you? What is your background
*Financial Plan-Your budget and financial statements.

I know this seems like a lot, but the internet has an abundance of beneficial information. Sites such as http://www.score.org offer business plan templates for several business types in PDF, Word and Excel versions. Bookmark SCORE.org. SCORE offers free online and in-person advice to entrepreneurs.

A business plan takes time, but this is essential for your business even if you are not seeking financial help.

The reason most people never reach their goals is that they don’t define them, or ever seriously consider them as believable or achievable. Winners can tell you where they are going, what they plan to do along the way, and who will be sharing the adventure with them.
–Denis Watley

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