We easily understand that economics or poor business management can cause a business to fold. Let’s dig deeper and think about some of the past million dollar businesses that have failed. Why? What causes such a topple of one’s success. It really is one simple word – morals.
We all know right from wrong but whether we choose to follow the right instead of the wrong makes all the difference. A good business has a great, solid foundation of morals, ethics & integrity. Successful and blossoming businesses not only create the Code of Conduct for their business but they wear it, act it and follow it everyday. They set an example for all to follow and will tolerate nothing less. These my friend are sustaining, successful businesses.
Ethics – moral principles that govern a person’s or group’s behavior.
Integrity – the quality of being honest and having strong moral principles; moral uprightness.
Code of Conduct – a set of rules outlining the responsibilities of, or proper practices for, an individual, party or organization.
Writing a business plan is a must, starting a business is exciting, reminding yourself everyday who you are and what you stand for is winning!
According to the Small Business Chronicle, A sole proprietorship is a business that has a single owner who is responsible for making decisions for the company. A partnership consists of two or more individuals who share the responsibility of running the company. A corporation is one of the most recognizable business structures and has a separate identity from the owners of the company. One or more owners may participate as shareholders of a corporation.
Have you thought about how you would like to proceed? Some businesses are perfect for a sole proprietorship. A Sole Proprietor makes all the decisions and pays for all income tax on their personal taxes. Business plans that include growth, especially at a fast rate may want to consider having a partner to help make decisions when you are unavailable. They generally also invest Continue reading
Starting your own business can be an amazing and rewarding venture. Business has been male dominated for centuries. In the recent times, women have been making a name for themselves in the business world.
Women have several advantages over men when it comes to starting a business and keeping that business alive. Advantages include, but are not limited to;
1. Women know what women want: According to Harvard Business Review, “Women feel vastly underserved. Despite the remarkable strides in market power and social position that they have made in the past century, they still appear to be undervalued in the marketplace and underestimated in the workplace. They have too many demands on their time and constantly juggle conflicting priorities—work, home, and family. Few companies have responded to their Continue reading
As a new business owner, you have been busy laying out the foundation, acquiring funding, and reading local, state, and federal laws related to your business. We understand there have been many a sleepless night followed by excitement and anticipation. Now you must decide if your business is sole proprietorship, incorporated or a limited liability company. We are here to help you sort out the confusion.
Determining whether you should incorporate (INC) your business or go the Limited Liability (LLC) route can prove to be a daunting and confusing task for many small business owners. The first thing you need to know is to determine what INC is and what determines LLC. There are two common types of corporations; an S-corp and a C-corp. To make an informed decision, one needs to know some basic differences between Continue reading
Owning your own business is a dream for many and can launch you into great success. The first step to making your vision a reality is to create a business plan.
The purpose of a business plan is to help you understand the mission of the company, the financial needs of your potential business and even the structure of your new business. You may think you do not need a business plan but understand that assumption is incorrect, many legal services, financial advisers, investors and possible business mentors will want to see a business plan.
You may ask yourself, “ What is a business plan exactly?” This a valid and valuable question. A business plan is basically a description Continue reading
According to a report by the U.S. Department of Agriculture, 49 million people in the United States lived in households that barely have enough to eat and around 16 million are children. While yes, most of us are obese, others do not know where their next meal may come from.
There is real trend climbing higher and higher to help those in need. They are called Community Gardens and crowdfunding plays an extremely big role in financing these much needed gardens. Imagine sitting at the table with nothing more than a mere piece a bread, possibly some peanut butter, and not much else.
The worst part may be not knowing where the next piece of bread is coming from. Sound extreme? It is not as so many families today struggle to make it day to day. Where are the fresh fruits and vegetables that our bodies need so badly to stay healthy? Sure, there are government funded programs available but Continue reading