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Getting
Partnering Right: How Market Leaders Are Creating Long-Term Competitive
Advantage by Neil Rackham, Lawrence Friedman,
Richard
Ruff
The bestselling author of S.P.I.N.
Selling is back with dynamic book that explains, demystifies and makes
sense of the sales revolution that is rapidly altering the business landscape.
Essential reading for marketing and customer service professionals, sales
and account managers.
How
to Form Your Own Corporation Without a
Lawyer
for Under $75.00 (3rd Ed) by Ted Nicholas
With more than a million copies
in print, this great blockbuster shows how quick, easy and inexpensive
the incorporation process can be. Corporation helps business
owners shield personal assets, limit personal liability and enjoy the most
powerful tax shelter.
Patent
Law Essentials:
A
Concise Guide
by
Alan L. Durham
This consise, up-to-date survey
of U.S. patent law uses examples, many from actual cases, to explain the
various aspects of the patent system, including issues of patent validity,
infringement the application process, and litigation.
Protecting
Your #1 Asset: Creating Fortunes from Your Ideas: An Intellectual Property
Handbook (Rich Dad's Advisors) by Michael A. Lechter, Robert T. Kiyosaki
(Introduction)
With an introduction by Robert
T. Kiyosaki Since failing to know the rules can lead to disaster, this
book will familiarize readers with the basics they need for protecting
their company's critically important rights involving copyright, patents,
trademarks, and all other aspects of intellectual property.
The
Self-Publishing Manual: How to Write, Print and Sell Your Own Book (Self
Publishing Manual, 13th Ed) by Dan Poynter
Stop
Selling, Start Partnering: The New Thinking About Finding and Keeping Customers
by Larry Wilson, Hersch Wilson
There's only one Larry Wilson
... number one when it comes to the art of selling. Start Partnering outlines
a fresh approach to finding & keeping customers through powerful, long-lasting
partnerships. Drawing on his extensive experience with companies such as
Kodak, US West, Saturn, and Baxter Healthcare, Larry Wilson shows managers,
executives, and salespeople how to design and nurture "customer-keeping"
organizations. Filled with smart advice and practical customer partnering
guidelines, it redefines the new success factors for every organization
that faces the daily challenge of finding and keeping customers. |
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HOW
TO BEGIN
When the
decision has been made to enter a business on your own, and the type of
the business has been chosen, it's worthwhile to analyze carefully the
form you want it to take and whom you want to involve. You have to determine
the ownership and the legal framework of your enterprise. Each has its
pluses and minuses.
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SOLE
PROPRIETORSHIP
It
is the simplest and most common form of ownership for small business.
A
sole proprietorship is owned by one person. The owner decides what
products to sell or what services to provide, how much to charge, when
the business will be open etc. If you choose this option nothing legally
separates you and your personal finances from those of your enterprise
and your business is taxed through the personal income tax you pay. There
is no limit to the amount of profit your business could make and the owner
also has unlimited liability.This means that the owner is responsible or
liable for all debts or losses that the business owes. If the business
owes more than it owns, the owner may have to sell personal property (
for example a car or house ) to pay the debts of the business. If the business
earns a profit, the owner gets to keep everything that is left over after
income taxes and other expenses have been paid. There are both advantages
and disadvantages to a sole proprietorship.
ADVANTAGES
Low start-up costs.
Greatest personal freedom and totally on your own. No one can tell you
what decisions to make or how to run your business.
You receive all the profits and that could increase your motivation.
Ability to change business direction or practices very quickly.
Few
legal restrictions.
Easy of starting or discontinuing business.
Losses incurred during your first few years can be claimed to reduce taxes
on other sources of your personal income.
You don't have to share the business secrets with anyone.
DISADVANTAGES
Totally on your own, no one to give you new ideas or help you with certain
decisions, except your chosen advisors.
You are the only liable if your business fails.
It is harder to borrow money because there's no partner to share the debt
load.
No one can easily take your place if something happened, and no one have
the same commitment to your company as you do.
Long hours of work.
When your business becomes more profitable and generate more income than
you currently require you will be taxed at higher personal tax rates.
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PARTNERSHIP
When
two or more people get together to form a business, this business is known
as a partnership. They share cost and/or other resources toward the operation
of a venture. Partners pay personal income tax on their share of the profits,
but the business itself is not subject to income tax. Nothing separates
the partners' personal finances from those of the business. There are two
forms of partnership:
GENERAL
- in which all partners share in the management of the business in agreed
portions, and in the liabilities and profits.
LIMITED
- partners who invest a specific amount of money and are liable for debts
up to that amount. Usually they are not involved in the day-to day operation
of the company.
ADVANTAGES
Partners usually invest cash in a business and that means that there's
more capital on hand.
Banks or suppliers will be more prepared to extend credit because more
than one person is assuming responsibility for the debt.
Partners can bring complementary talents to a business ( for example one
has excellent ideas and other is a very good salesperson )
Partners share the liabilities of a business.
Possible tax advantages.
DISADVANTAGES
Possible
difficulty in finding a suitable partner - one who supports your personality
and skills.
Different perspectives may result in disagreements and the partnership
may become hard to manage.
Each general partner has a say in the way the business is run.
Partners share profits, too.
General partners may have to sell their personal assets to meet debts.
There's nothing to stop partners from taking your idea and going into business
for themselves.
If you want to sell, you must have the approval of the other partners or
they must buy you out themselves. It can be long process and painful.
Partnership dissolve if any partner doesn't live up to the partnership
agreement (illness, insolvency, death, incompetence etc. ). Insurance can
cover some of these eventualities and allow the business to keep running.
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INCORPORATION
A corporation is a form
of business ownership that has an existence of its own, separate from its
owners. For this reason, corporations are considered to be more permanent
than other forms of business ownership. Corporations can be identified
by the inclusion of the words: LIMITED, INCORPORATED, or CORPORATION (
or appropriate abbreviations Ltd, Inc. ) after the company name. Because
a corporation has a legal existence of its own, it will not stop operating
when the people running it quit, retire or die.
Corporations are established
to conduct business, earn profits, and limit the personal liability of
their owners. The owners are only liable for their investment in the business.
If the business were to lose money they would not have to pay out of their
personal belongings. You may incorporate your company federally or provincially.
It's cheaper to do so provincially, but that may limit the ways you can
do business in other provinces. In order to incorporate, a business must
apply to the provincial or federal government for a charter. This charter
grants the business permission to operate and raise capital by selling
shares to investors (commonly referred to as shareholders). The investors
are the owners of the business. There are two kinds of business corporations
- private and public. A private corporation or company is one in which
shares can't be sold to the public, shares can be transferred only with
the permission of the shareholders. The shares of a public company can
be sold through the stock exchange to anyone who wants to buy them. Privately
owned corporations give their owners more control, but this also means
there is less capital available to use.
ADVANTAGES
Ease of raising capital.
Ease to expansion.
Limited liability for all owners, that means you can't be held personally
liable for debts if your company doesn't succeed unless you have personally
guaranteed the obligations of the corporation. You can lose only your investment.
Possible tax advantages depending on the type of capital. Owning a private
company makes you eligible for certain tax breaks.
Opportunity to choose a fiscal year-end that is most convenient for the
business.
Continuation of business, regardless of the ills that might befall the
owners or other things what happens to individual owners. A corporation
can only be ended when its charter expires, its shareholders elect to give
its charter up or bankruptcy is declared.
DISADVANTAGES
High start-up costs. You have to pay an incorporation fee to the government,
do a name search and you usually have to hire a lawyer.
Strict government regulations.
Accurate accounting and meeting records required. You'll be loaded down
with paperwork which various governments oblige you to fill out.
Double taxation ( profits of the business are taxed, and shareholders are
also taxed based on their income from the business ). If net income of
your business is to low, you may actually pay more in taxes than you would
if you were simply filing your personal income tax ( or if you have losses,
these will not be deductible against other sources of your income ).
Shareholders are by low, entitled to know the annual income and debts of
a company. If this information falls into the hands of competitors, they
may use it to their advantage.
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BACK
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“Women
In Small Business - Setting Up Your Business Right The First Time”
You need to realize that being
a small business owner brings with it many responsibilities. It is easy
to overlook them in your excitement. But they won’t go away if you ignore
them and they are, ultimately, your responsibility. |
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Project
Management Basics
Project Management Basics is
training that:
- Delivers the basics of
all Projects (Quality, Cost and Delivery) to speed your management skills.
- Shows you how to manage
and BALANCE your QCD deliverables to deliver first time on time.
- Trains you to RUN a Project
Team Meeting with precision that delivers RESULTS.
- Instructs you in the right
DECISION MAKING PROCESS to move your project forward. This is not some
pie in the sky course that takes 10 weeks to learn and costs you thousand
of dollars. Is is not written by some guy who never ran a project in his
life. This course is no nonsense and used daily by myself and others. |
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Office
Software Suite
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Excel & Powerpoint files
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files just like Adobe
All the features of MS
Office & much more...
Bonus Anti-virus program
8 weeks premium support
And
much much more ... |
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Registry
Toolkit
Increase system speed and stability
by removing
corrupted registry files with Registry
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SEO
Software Works!
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- Promotion Targeted Traffic - Popularity
Once you have traffic you can
turn it into a powerful profit producing machine. It'll make marketing
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how and who to promote your products to… you'll be able to beat every other
Internet marketer out there at their own game without having to resort
to shady programs or having to compete to be noticed and … |
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