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Buying a BusinessThere are many ways to buy a business. Choosing the best route for you to go requires one to understand the environment, the resources and the risks. When buying a business one needs to think about what they are buying:
- Stream of Cash Flow
- Customer lists
- Other items
Best of Luck in your Venture
Forming the Organization StructureThe most popular legal entity in the United States, today, is and LLC (Limited Liability Company). Why? 85% of the people I as this question say "because I am protected if something happens?" Are you sure? This lesson will help the entrepreneur learn the facts and see how it is applied in the real world of business. One entity does not fit all needs so due the homework to get the facts. This lesson will make you think and provide the information to ask more questions. The more you learn, the more you will want to know.
Lesson number 1-an LLC is a legal entity organize in a state. It is NOT a taxing entity. Sign up for the less to learn more
Good Luck in your future Venture
FranchisingFranchising has been around for a lot of years. You are buying a system, a process and a brand. In all of this it is still you running the business. It is still the location and the environment that provides the resources. When looking at options of going into business, don't be blindsided by expecting a franchise to be the ultimate solutions. You and your experience, knowledge and team are the real heros. This lesson helps the entrepreneur to get an unbiased view of franchising and to present the fact and views without something to gain. Be aware! Every business type requires the same due diligence process but each alternative or option will have its own uniqueness that has to be understood and worked out.
Good Luck in your Venture
In the Beginning-Turning your Dreams into RealityGoing into business may be easy. Staying in business is the hard thing. Not understanding the marketplace, the competition, the customer needs, the rules and regulations will certainly put you at the disadvantage. This lesson provides information to help you understand these issues and provides tools to use. What we want to deliver isn't necessary what the market wants. We should know this before we make the investment in time and money.
Learn more so you can do more and hopefully reduce your risk of failure
Good luck in your Venture!
People, Practices & PitfallsThis lesson discusses the law, rules, regulations and pitfalls (consequences) of the game. If you don't play the game according to the rules, be aware. Remember in Monopoly, if you fall on the wrong square you go to jail and it cost a lot of money to get out. Same thing happens in real life. This lesson help the entrepreneur to be aware of some major issues that may come up while being in business and the application of those issues in the workplace. This lesson provides a great deal of actual case, practical examples or what to do and the fines of doing it wrong.
Good Luck in your Venture!
Resource Toolkit: Compilation of the documents from each lesson/topicThis resource toolkit puts many valuable templates, models and check lists at the finger tips of the user. Each ties into one or several of the lessons but can be use as a stand alone. As the lessons expand more templates and guides will be developed and available.
Good Luck in your Venture!
Risk ManagementRisk Management introduces the concepts of protecting assets and being proactive to the risk of loss. It discusses different methods and provides tools to mitigate risks of loss and strategies to think about. It also focuses on the different types of risk that businesses might encounter such as cybersecurity, disaster issues and recovery, internal and external fraud and many other issues that ALL businesses need to be aware of and methods to reduce the risk of failure. We hope that this lesson will give you some ideas and aid in putting some thought into your planning before and after you enter the business world
Good Luck in your venture and think about the future and how to protect your personal possessions business assets
Are you up for the Challenge?
This is the beginning of the rest of your life. This lesson is all about your readiness to jump into the ring of entrepreneurship. Here you will be able to understand the challenges and look into yourself and reflect on the traits, characteristics and responsibilities of being in business.
Good Luck in your new Venture!
Family Owned BusinessFamily owned businesses can be very tricky. They have an element that does not exist within non-family owned businesses and that is RELATIVES and family togetherness. When in business with relatives, it may be difficult to keep the emotions out of the business but no one said it was easy to go into business, especially with relatives. Int he beginning it may sound like paradise. As the business progress, then issues may pop up:
- Who does what?
- Who gets paid what and why?
- How will it work during family events and activities?
- Who gets the bigger house/ auto and why?
Good Luck in your Venture!
Financing your VentureHave you tried to find money to finance your venture? Sometimes it is hard-like betting your head against the wall. Either your credit score is too low or you do not have enough assets or cash to secure a loan. This lesson give insight on different methods small business have used to finance their dream. There are resources, links, tooks and practical applications that can be applied to the entrepreneur's issues and situation. Take these ideas and run with them. They may make a difference and help in getting to where you want to go.
Good Luck in Your Venture!
Home Based BusinessWhat a great idea! Work from home at your own schedule at your own convenience and in whatever attire you want to wear. Sounds great and it all may be true. This lesson will bring to light some of the legal, tax, regulatory and social issues of working from home. Many questions will be answered such as can I deduct a home office expense on my taxes? Many of these issues will be discussed bringing in practical illustrations and some realistic discussion of the laws, regulations from a local, state and federal perspective. The more you learn the better you can make informed decisions.
Good Luck in your NEW Venture!