Posting Videos to Boost Business Marketing

Small businesses in California can benefit from posting videos about their company on social media sites such as YouTube. This video for example, is an interview of Colleen McNamee of McNamee Mediations. It is posted on the company’s YouTube channel.

 Interview of Colleen McNamee of McNamee Mediations

Orange County Divorce Mediation Infidelity with Finances – Recommendations – Part Two

I run a mortgage company and obviously, I see everybody’s finances in the process of it. And it didn’t dawn until now but I actually had a client where after the conference call with him and his wife were done, he called me back separately. He asked me to keep a few things confidential. He actually had a different amount of money every month from his paycheck going to a separate bank account that she didn’t know anything about. And what I find as odd though is that I remember hanging up thinking, “well this is a bad situation for me to be in”, first, but then remember hanging up going, “how does she not know?” When they do their taxes at the end of the year – the W2, the paychecks? I don’t know how he’s pulled it off.

She may not even look at it. She might just sign her name if she’s not worried about checking it. A lot of people just sign.

How to Avoid Financial Infidelity in your Marriage?

Yeah, I guess so. So what do you recommend in a situation like that? Obviously, your business is divorce and getting it over with as easy as possible. But I’d like to say, “Don’t get divorced. Make an effort not to.” I would think that from somebody like you that’s pretty much heard it all, what’s some good advice you can give for people to not be in that situation? Is it, “don’t have separate accounts and maybe you should just have one” or is it “Have a financial date (as one of our TLPs says all the time) and talk about things.”

Well, I think I want to start off by saying that the show isn’t supposed to promote distrust on your spouse, first and foremost. We don’t want our listeners to take this, go home, and start doubting what their spouse is spending their money on. But I do think that you need to trust your instincts. If something feels like it’s a little bit off, look into it. Don’t just pretend like it’s not there because your instincts are oftentimes right. But as far as some practical advice, I would say that in my opinion it would be better to have one main account that all money goes into – whether it’s a dual income or single income. And then if you guys want to have separate operating expenses for your own personal enjoyment and going out – that you separate accounts and you decide on an allowance that you’ll give equal to each other. And that money gets taken out of the main one and given to you in your separate accounts. So if you each get 2500 dollars a month to spend on whatever you want, just discretionary expenses, and all the rest stays in that primary account, you’re going to be less likely to have situations where financial infidelity arise.

The Difference Between an S Corporation & C Corporation

S Corporations and C corporations are two of the most popular business entities when a company decides to incorporate. Once you have incorporated your business, you might want to be an S corp or a C corp. If you are choosing between the two, tax concerns are usually the major basis for making a decision.

Just like a partnership business structure, S Corporations do not pay any federal income taxes. The profits and losses of an S corp are passed through to the stockholders. These people will then report the income and losses on their personal tax return. This process is called single taxation.

C corporations, however, face double taxation. Double taxation means that the C corp pays federal income tax. All dividends paid to the stockholders are also taxed.

It is always best to have a corporate lawyer in California to assist you in deciding what business entity is most suited to your company.

Learn more of the differences between S Corps and C Corps by reading through this article:

Advantages of Being an S Corporation

A major advantage of being an S Corp is that income and losses are passed through to the shareholders of the company, and taxes are paid only once. Thus, double taxation is eliminated. It is important to check the laws and regulations of your state regarding this, because some states do not recognize S Corps and will tax the company just like a regular C corp. There are states that charge S Corps as state tax, even if the company will not have to pay federal income tax.

If your business becomes an S Corp, you as the owner are protected from liability. With S Corps, the personal assets of the owner and the shareholders are separate from the company’s assets.

Accounting is also easier with S corps, because you can simply use the cash method of accounting. It’s perfectly alright if you do not have any inventory. Moreover, with S corps you will have more room for investors. In fact, S corps can have up to 100 stockholders!

Disadvantages of Being an S Corporation

S Corps , just like other business entities, are required to file a number of official and federal documents, including the Articles of Incorporation. The company must also hold regular meeting with their stockholders, and the minutes of these meeting be filed. There are also a number of government fees that have to be met regularly.

There are also shareholder restrictions with S corps. In a C corp, shareholders are taxed only when they receive their dividends. But with S corps, the shareholders are taxed for any income that the company has, even if they have not received any portion of that income. Another restriction is that S corps shareholders are only allowed to issue one class of stack. Many investors can get discouraged by this.

Again, in order to know more about what you’re getting into when it comes to choosing a business entity for your company, it is always best to have a corporate attorney in Orange County, California to assist you.

You Need a Business Attorney to Handle Common Legal Issues in California

All businesses in California will face legal issues; if not now, then eventually. This is why all businesses, whether big or small, should have a corporate lawyer. Corporate lawyers make sure that your business is protected from various kinds of legal troubles. Here are a few of the most common legal issues faced by businesses in Orange County, California.

1. Complaining & Unsatisfied Customers

Dissatisfied customers is one of the most common legal issues faced by businesses in California, and this can be a huge problem, because they can file lawsuits against your company. What’s worse is that most complaining customers gather consumer groups and make a single issue larger than it is. They will sue you over almost anything, from incompetent service to faulty products. Moreover, dissatisfied customers tarnish your company’s reputation, especially if they approach media outlets for their complaints.

You need to have a corporate attorney to handle issues with unsatisfied customers. You are already busy running a company and you cannot overburden yourself by handling legal issues. Have a business attorney in California deal with issues like these, while you focus on running your business.

Wrongfully Terminated Employees

The law provides that you cannot let go of an employee without any final termination forms. Before you terminate incompetent employees, you need to make sure that he signs the necessary documents carefully drafted by your corporate lawyer in Orange County. Your corporate lawyer will make sure that the terms of his dismissal are communicated clearly.

Patent & Copyright Lawsuits

The business world is a very competitive environment. Sometimes it gets too competitive, because other companies will do anything they can to put down their competition. They will look for loop holes in your business and when you do make a mistake, they are quick to file a lawsuit, which will destroy your reputation and ultimately to shut you down. One of the common lawsuits that companies are quick to file are those regarding copyright and patent.

Besides having a business attorney in CA protect you if lawsuits do arise, you also need to make sure that your product development team researches the patents and copyrights of your products thoroughly, so that you can avoid unnecessary problems with your competitors.

The Need for A Corporate Lawyer

All companies, whether big or small, need to have a corporate attorney in California contracted. Not only will they be able to help you when legal issues arise, they also serve a lot of purpose in the company. Corporate lawyers in CA help in preparing contracts, keeping corporate records, and they assist in various legal aspects of a business. Having a corporate attorney in OC, CA contracted will protect your company form potential legal problems in the future.

 

Small Business Development: A Look at What is Successful Success in the Small Business Boom–Finding Your Niche

While the economy has entered a slump the small business market has been booming. Millions of unemployed workers are looking for work in any way possible–including self-employment. With so much competition it’s seems hard to start your own business. But there’s plenty of opportunity out there; all you need to do is focus on a strong business niche.

Success doesn’t only come from finding the right business niche, and if you want to compete with the unemployed who have nothing to lose, you’re going to have to act like you have nothing to lose. It’s all about taking risks and seeing where they take you.

Targeting Specific Business Niches: Custom Wine Cellars & Wine Refrigeration

Even though we’re in a recession, there is still plenty of money people are willing to move around, you just need to find out where. You can target the rich, like Los Angeles wine cellar builders have, and there are many successful companies who have found wine cellars to be a great market.

While there are not a lot of people who can afford a wine storage area, those who can find it well worth their money. Restaurants are a good example of companies who often need a place to store their wine, and are looking for a beautiful addition to their restaurant to add to the ambiance.

Examples of Custom Wine Cellar Builders:
Wine Cellar Specialists Custom Wine Cellars California
Coastal Custom Wine Cellars California
International Wine Accessories California

Custom wine cellar building can be a beautiful and unique experience for each owner. Wine lovers want to store their wine in the optimal environment.  This has led to more companies focusing on how to make the optimal wine environment using wine cellar refrigeration units, proper wine cellar doors, wine cabinets, wine racks, and other wine accessories. There’s a lot of money to be made in the wine storage industry.

Wine cabinets, although part of the wine storage industry, are another unique niche. These units are designed to keep wine safe and organized so that you can easily access a certain wine at any time. There are many different kinds of wine cabinets; some units have stemware racks and glass windows to show off wine collections and glasses, to ones with drawers for wine accessories. There are also active wine cabinets that come complete with refrigeration and humidity controls.

Wine cellar doors are another niche industry and are much more than just an entryway to a wine cellar. Because they provide insulation for the wine cellar beyond, and therefore must be able to handle the cold and humidity levels required by wine cellars, they have to be custom made.

With all these aspects of wine cellar construction, you can see how wine cellar builder companies have found success.

This list of companies either specialize in providing clients with complete custom wine cellars or supplying cellar builders with the required components necessary to build custom wine cellars.

Links to a few Wine Cellar Specialists:
http://www.arcticmetalworks.com/
http://www.winecellarspec.com/
http://www.winecellarsbycoastal.com/
http://www.winecellarrefrigerationsystems.com/
http://www.iwawine.com/

Targeting the Rise of Small Business Development

Another growing niche is helping entrepreneurs with their small business development. With more small businesses on the rise there are plenty of opportunities to help. Most small businesses will need help at some time in areas such as incorporation, marketing, SEO and a lot more.

If you happen to be an attorney then one niche that particularly targets small businesses is incorporation.  Helping a small business to incorporate helps them to remove their personal liability from their company.  Helping them to understand they could lose their house or personal assets if they do not incorporate for example, is a worthwhile niche to get into. Incorporation attorneys Gale and Vallance are a good example of a company that has decided to target just such a niche.

Another company that has capitalized on the small business boom is GreveCo and they have been selling trade show booths and displays to businesses large and small. However, as small businesses usually don’t have the marketing power that larger companies have, GreveCo have created trade show stands that small companies can afford.

This allows small businesses to head off to trade shows to show off their products and hopefully get their products seen by the public and investors. These custom made booths come in different varieties and sizes and seek to provide the best experience for small business owners. These custom made booths are re-usable which is really helpful for the budget conscious small business owner going to multiple trade shows.

Hiring a CEO For Scaling Small Businesses, Better Than Promoting the Founder?

As an Orange County California small business experiences business growth, the question that often comes up is: does the company need to hire a CEO?  Managing the company is important, so hiring the best man for the job is integral to a company’s success when you’re scaling small businesses.  The reason that many companies hire a new CEO, instead of making the founder into the CEO, is that the founder usually isn’t as good at managing and taking care of everything.However, there’s another way to get the best management and keep the passion and vision of the founder at the head. What you need to do is build a team around you that complements you. You don’t need to be the perfect CEO, you just need to acknowledge your weaknesses and strengths and build a team that will help you and make you into a better CEO yourself.Hire people with skills and experience in areas that you don’t have as much talent and experience in. If you don’t feel you have very many strengths in any aspect of a CEO then you might want to consider hiring one but remember, you have lots of room to grow.

Click Here For More Scaling Small Business Information

A Board of Directors isn’t necessary for a small business, but may become necessary as a company grows.

To be successful you have to know and criticize yourself and learn from those who have more experience than you. That doesn’t mean that you adopt the same strategies and thinking that they do, you still need to keep your creativity and passion for the company. Keeping an open mind is the important point to remember here.

H2: Assessing Yourself as a Small Business Owner and a Potential CEO

Honesty is important in your self-assessment. It’s also important that you get objective assessment from outside sources to help give you a clear understanding of your strengths and weaknesses.

Consider finding an experienced entrepreneur who has gone through CEO transitions and has an idea of what traits are necessary for a great CEO. Choose someone who will give you a brutally honest assessment rather than focus on being polite while still giving you support.

You should also build an experienced inner-circle that will also help you to determine what the company needs. Challenge your own view and hire people that will also challenge your view and make sure all members of the group add their own unique insight rather than just taking on the view of the group.

Reward your employees who give you constructive criticism and don’t necessarily reward employees who merely agree with everything you say. Creating open discussions and taking input from anywhere is important.  It’s very uncomfortable to be criticized and to spend long hours debating over the needs of the company but it’s important to push your company to new heights.

Ask yourself if you are really interested in being a CEO. Maybe you’d be a great CEO but you don’t want to spend all your time managing the company. CEOs spend tons of time with all of their responsibilities and you might want to spend your time working on other parts of the company. You might want to take a step back from your company so as to have some time to yourself. As a business grows, a CEO will have more and more responsibilities.

As a small business owner, you may not have a board within the company yet but you probably have people you can talk to about the needs and risks your company may face. Consider replacing people or building a board that can discuss every facet of the company with you or just hiring one person who can balance out opinions or who has the right perspective.

If you’re having trouble with members of your board, spending some time alone with them to discuss what they’re thinking and what’s bothering them is a great way to remove the political dynamics of a board and make your personal relationship with them better. Resolving a disagreement in your small business as quickly as possible is important so it doesn’t get out of hand.

A board should not be the one to make decisions, they should be a group who can assist the founders, or the CEO, and give them honest advice.

Have them push their point of view as far as they want, but don’t allow them to make any of the decisions because if they aren’t able to convince the managing staff of what is needed to ensure business growth and development, then their point of view may not be the right one.

The managing staff will be the one to actually follow out these orders, and if they are doing something they don’t agree with they won’t do it nearly as well.

Incorporating Your Scaling Small Business for Growth

When your small business goes through business growth you’ll want to prepared for the changes your company will have to make in order to grow it into a bigger business. One of the main things you need to do is incorporate your small business development so you aren’t held liable for it if it goes under or for its debt. Even if your company is still a small business you could benefit from incorporating it.

Growing into a Large Enterprise is the Dream of Many Small Businesses; Incorporating Can Help Make That Dream a Reality

Forming an LLC or a Limited Liability Corporation is a great plan to make your business last for the long haul. One major reason for you to form a corporation is to remove your liability. That means that if your company tanks you won’t have to take the hit in your personal assets such as your house, car or personal belongings.

Credibility is another big reason that companies incorporate. Rather than just having a simple name like ‘Bob’s Refrigeration’ it would become ‘Bob’s Refrigeration LLC’ or ‘Bob’s Refrigeration Inc.’ Not all customers prefer to do business with a corporation, but there are plenty who do.

If you’re planning on selling your business in the future incorporating your small business development is a great idea. If you don’t have your business incorporated when you leave your business or die, the business will just end. Scaling small businesses often end up being sold to larger corporations and making sure the company is transferred to the buyer is important.

Tax flexibility is another great part of incorporating. A corporation or LLC can avoid double taxes from corporate dividends and profits as well elect to be taxed as a corporation.

Choosing between whether to form a corporation or an LLC can be a difficult choice but luckily there are some clear cut differences that make it easier to decide. An LLC can choose whether or not to file as a corporation or an individual, which is a great flexibility that corporations don’t offer. To form a corporation you need to be a legal US resident but with an LLC you don’t need to be. An LLC doesn’t have to schedule an annual meeting or minute book. A disadvantage to an LLC is that they cannot issue stock, they aren’t able to engage in corporate splitting.

Some advantages to a corporation is that you can issue stock, and you can split the corporate tax liability. You’ll run into some double taxation of corporation profits and shareholder dividends. You have to hold annual meetings and record minutes. There’s a limit on number of owners you can have in an S Corporation.

Forming an S Corporation is a better idea over a C Corporation. With an S Corporation you won’t be doubly taxed on your profits and your shareholder dividends which can attract a lot more shareholders. Both S Corporations and C Corporations need to file their taxes yearly and pay taxes quarterly.

Another option if you are a non-profit organization is to apply for non-profit corporation status. There are a whole slew of advantages to this. The biggest advantage is that you can become tax-exempt and not have to pay any taxes on your profits. Another one is if someone donates money to your certified non-profit corporation they can write it off as tax deductible, a great way to encourage people to donate to your organization.

Some taxes on property will be exempt with your non profit corporation. Non-profits are exempt from paying property taxes under state law in all 50 states to help them accomplish their goals.  Applying for a non-profit corporation status helps appeal to donors who are unsure if they should donate.    A small plus is that you will pay less in postage, which can potentially save you a fair bit of money because USPS offers a discounted rate of postage for non profits. It doesn’t apply to all non profits, and checking with your local postal office is the best way to find out if you’re eligible.

Sometimes choosing which type of corporation you should apply for can be a little bit hazy. Working with a good California Small Business Attorney Services firm to help you understand every advantage and disadvantage to each corporation is a great way to decide. They can run the numbers for you and see what would benefit your small business the most.

Preparing for the Future: Scaling and Small Business Development

Scaling a Small Business is a lot of Hard Work but is Necessary for Business Growth

Having a scaling small business plan in place for your small business is important if you want to make the transition from small business to corporation or big business. Not many small businesses have scaling in mind, but when dealing with business growth, building your business around scaling is important.

It’s much easier said than done but small business scaling and business development generally is not impossible if you’re smart about it.

The first thing you should do is document everything. Whether you’re training an employee, or documenting a business procedure it should be done as soon as possible. This way you’ll have access to all the transactions and training you’ve ever done. When you become a large enterprise you can simply give access to the transactions to your accountants and the training to your new employees. Training can be done either through written documentation or by filming it. In the case of the procedures, you can review them and see what needs to be changed to streamline the procedures.

An Accountant Can Give You the Best Insight for Scaling Small Businesses

Hiring an accountant early on in your business is another great idea to help you scale your business. You don’t need to hire an accountant full time, but have one run your numbers and figure out how exactly to scale your business. Scaling small businesses is a lot easier with someone who can help you understand the numbers and give you the ability to make the best choices as you’re moving on. Basically, if you’re going to restructure or expand your company, discuss it with an accountant.

Finding out if your company is doing well will help you make the transition to a larger enterprise as you can modify your procedures and strategies, but figuring it out is a lot more than just sales numbers. There’s a lot of trial and error to determine what to measure. It might be the number of people who called or walked into your store, or an assortment of other factors.

 Incorporating Your Scaling Small Business to Protect Yourself

When you become a big business, you are going to have a lot more liability. When you’re making the transition you’ll probably want to incorporate your Los Angeles California small business. Protecting your business and yourself is important, and you can do it with many legal entities such as an LLC, corporation, or S Corp. It does cost a bit of money to incorporate but it’s very important to your scaling small business. Some partnerships will still make sense, but you don’t want to stay a sole proprietor or a partnership for too long.

What incorporating does is remove your personal liability from the company. That means you won’t lose money from your personal bank account or lose your home if your company fails. There are also some significant tax benefits and advantages when you become a corporation.

Information runs throughout your whole business and keeping as little information in your head as possible is the best strategy. You’re only human so you’ll likely forget things from time to time which means having it in a database where it’s not going to get lost is an important strategy. Have your employees keep their information written down or stored so they don’t lose it as well.

Remembering everything can make dealing with clients and firms a lot better and even bring in more sales. Even if you have an amazing memory, as you experience business growth you’ll have a harder and harder time keeping track of everything.

Find out what all of your responsibilities are, and create job positions along with detailed descriptions that take care of those responsibilities. That way, when you can no longer handle everything by yourself, you can hire someone easily and not have to worry about that responsibility anymore. It’s a lot better to plan ahead for jobs rather than hire someone and try to figure out which responsibilities they should take on.

In order to plan for all of these bumps in the road, plan some growth management meetings to figure out exactly how you’re going to handle your business growth. That way you’ll be completely prepared for scaling small businesses.

Doing-It-All-Yourself – Small Business Development California – The Myth

 

Multi-Tasking in Your Small Business Development

Orange County California small business owners often think that if they can do it their selves, it will save them money and help out business growth. Business owners don’t want to waste money outsourcing any of the work they need to do in marketing, delivery, incorporation attorneys, accounting, or sales. While some of the work you can do yourself and end up just fine, such as accounting and delivery, marketing and sales are an entirely different game.

You might have read a few books on marketing, or think that you know everything about marketing to be able to do it yourself, but there’s quite a bit of information that you don’t know that you don’t know. A qualified marketing team knows everything there is to know about marketing and can create a better marketing strategy than you could ever make if you did it yourself. There’s a reason that there are countless firms and people that specialize in marketing, because not everyone can do it easily.

You are Biased and Subjective About Your Business Development

Besides not being nearly as good as a specialist, you’ll also tend to be a lot more subjective. Great marketing strategies have always needed to come from unbiased, objective people. A business owner will usually be incredibly passionate about their business development, and while passion is a good thing in general, it will make a person subjective. You need to see everything that you’re doing wrong in your marketing, which a lot of business owners are unable to do–simply because they’re subjective. Great CEOs have benefited from having a marketing team instead of doing it their selves.

Even if you had all the know-how with marketing in the world, you’d be at a disadvantage to marketing specialists. Most of them have a knack for marketing, and know how to sell a product, something that you can’t hope to match no matter what classes you go to or what books you read.

Going along with the talent required to create great marketing, you need to remember that marketing is a lot more than just a formulaic process that you can follow to a tee and pull out great marketing. You’ll need a lot of creativity to make a great marketing strategy. Using the same marketing strategy of thousands of different companies might help bring in some sales, but it’s nothing compared to a unique and custom built strategy based on your product and company.

Specialists will also have a better grasp of what types of marketing strategies you should focus on, whether you should invest more into SEO content, or content marketing, or even just improve the design or readability of your sites or blogs. Be sure to avoid business development scams and don’t believe everything you hear from a ‘magic marketing company’.

Another thing to realize is that you physically cannot do everything yourself, business development is already very demanding. You are human, and have limited capabilities. There is only so much time in the day to get everything done, and as you have more business growth, you’re going to have to cram more and more things into your day. It’s a lot of hard work, and even if you’re able to squash everything into one day with a few hours of sleep, it’s definitely not sustainable, and at some point you’re going to crack.

It’s Not Only Wasting Your Time, but It’s Ruining Your Business Growth

Doing it all yourself is not as cost effective as you think. Sure you’ll save a few bucks on marketing, but you won’t get nearly as much money out of it as you would if you went to a professional marketing firm or hired a professional marketing team for your company. The key to making the best out of marketing is to find the right person for the job. There are great marketers that you can find to add to your company, and don’t just hire the first person you find for the job.

Don’t feel you are making enough revenue to hire a marketing person? Remember, there are options, there are a lot of good marketing people out there that are willing to work part time, as 1099 employees or work just on specific projects. Remember it’s about working smarter not harder!

And also remember to factor in what your time is worth. If you’re spending countless hours on a marketing project and can’t focus as well or put as much time into other projects, you’re going to make a lot less money.You’re going to create work that someone who’s taken a few courses or read a few books could make, and hiring someone like that is a lot cheaper than wasting your time–time that is worth a great deal of money for what you do.