logging in or signing up Approach Starting Up A Business Carefully DanCavalli Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 42 Category: Business & Fin.. License: All Rights Reserved Like it (0) Dislike it (0) Added: November 21, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... By: saheemakareem (15 month(s) ago) very good presentation. please send me a copy to saheem.abdulkareem.pgp11@iilm.edu... Saving..... Post Reply Close Saving..... Edit Comment Close By: rammoi2002 (15 month(s) ago) nice Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Slide 1: Approach Starting Up A Business Carefully by: Dan Cavalli Business and Money Strategist Slide 2: When starting up a business you have to keep many things in mind. Do not just focus on the product or the services you are offering (although they are important). You have to make sure all your details are kept in line especially when dealing with licenses and taxes in your municipality. Research, as always, is a good way to determine how you should approach starting up a business. Slide 3: The legal entity you are creating is the banner your business will be behind. You have to determine how you are going to represent your business. Different legal entities offer advantages compared to others. Entities that you can explore are individual proprietorship, partnership, incorporation and limited liability company. How to Dominate Your Target Market in any Economic Climate: http://www.recessionproofmaster.com Slide 4: An individual proprietorship is the form of entity used most often when starting up a business. Capital and partnership are most easily gained in this form. This also leaves you an opportunity to incorporate if your business gets bigger in the future. Slide 5: A partnership is two or more individual proprietorship companies joining into a stronger, but still private entity. This still offers the same amount of privacy, but it also takes into account all of the partners' personal assets. It can be a good way to go for a business that is successful, but unable to crest over the next level or the next tax bracket. www.freeofmoneyworries.com Slide 6: Incorporating will allow you further tax breaks and better protect your investment. There is limited liability with your personal assets when using a corporate entity, so if you are to get outside funding or misused funding you can still be held liable. When you go public you hold less personal liability, but you also lose more control of your company. Slide 7: Running your business as a corporation will subject you to higher scrutiny from state income tax laws. Also, if your corporation for some reason folds, you will be subjected to a mountain of paper work that may turn out to be more trouble than the company was to begin with. This will also require the services of an attorney versed in these methods which will hurt you on the way out of the business as well. Money tips here Slide 8: When interest rates are high, incorporating your business may be practical to get the money you need to start up a business and run it. When you go public with your corporation you are looking at more legal paper work that will require an attorney to deal with and an investment company to sell your stock. Bringing the public in on your business venture is not a bad idea, but it will require some flexibility. Slide 9: When starting up a business, you should keep in mind an LLC, Limited Liability Company. An LLC combines the benefits of a private partnership as well as a corporate entity. It is simple to form, easy to run, it has tax advantages, personal liability protection, and instant credibility. An LLC allows a person to separate their personal assets from the assets of the business allowing for a greater peace of mind. FREE ABC's of Success at http://www.commandobusiness.com Slide 10: You can learn all about how to build businesses, make money, get rid of debt and turn money worries into infinite sources of cash but its all a waste of time unless you get the real secrets of how to get it done. www.the-richest-man-in-babylon.com Get his famous introductory 20 FREE lessons eCourse about Making Money that over 179,000 people have studied and applied at: Slide 11: DAN CAVALLI’s noted by the “Financial Review” as one of Australia’s “Internet’s Untold Millionaires”. He is also the author of the internationally sold financial book, "Blueprint for Making Millions." Get your FREE chapters here: www.blueprintformakingmillions.com About The Author You do not have the permission to view this presentation. In order to view it, please contact the author of the presentation.
Approach Starting Up A Business Carefully DanCavalli Download Post to : URL : Related Presentations : Share Add to Flag Embed Email Send to Blogs and Networks Add to Channel Uploaded from authorPOINT lite Insert YouTube videos in PowerPont slides with aS Desktop Copy embed code: (To copy code, click on the text box) Embed: URL: Thumbnail: WordPress Embed Customize Embed The presentation is successfully added In Your Favorites. Views: 42 Category: Business & Fin.. License: All Rights Reserved Like it (0) Dislike it (0) Added: November 21, 2010 This Presentation is Public Favorites: 0 Presentation Description No description available. Comments Posting comment... By: saheemakareem (15 month(s) ago) very good presentation. please send me a copy to saheem.abdulkareem.pgp11@iilm.edu... Saving..... Post Reply Close Saving..... Edit Comment Close By: rammoi2002 (15 month(s) ago) nice Saving..... Post Reply Close Saving..... Edit Comment Close Premium member Presentation Transcript Slide 1: Approach Starting Up A Business Carefully by: Dan Cavalli Business and Money Strategist Slide 2: When starting up a business you have to keep many things in mind. Do not just focus on the product or the services you are offering (although they are important). You have to make sure all your details are kept in line especially when dealing with licenses and taxes in your municipality. Research, as always, is a good way to determine how you should approach starting up a business. Slide 3: The legal entity you are creating is the banner your business will be behind. You have to determine how you are going to represent your business. Different legal entities offer advantages compared to others. Entities that you can explore are individual proprietorship, partnership, incorporation and limited liability company. How to Dominate Your Target Market in any Economic Climate: http://www.recessionproofmaster.com Slide 4: An individual proprietorship is the form of entity used most often when starting up a business. Capital and partnership are most easily gained in this form. This also leaves you an opportunity to incorporate if your business gets bigger in the future. Slide 5: A partnership is two or more individual proprietorship companies joining into a stronger, but still private entity. This still offers the same amount of privacy, but it also takes into account all of the partners' personal assets. It can be a good way to go for a business that is successful, but unable to crest over the next level or the next tax bracket. www.freeofmoneyworries.com Slide 6: Incorporating will allow you further tax breaks and better protect your investment. There is limited liability with your personal assets when using a corporate entity, so if you are to get outside funding or misused funding you can still be held liable. When you go public you hold less personal liability, but you also lose more control of your company. Slide 7: Running your business as a corporation will subject you to higher scrutiny from state income tax laws. Also, if your corporation for some reason folds, you will be subjected to a mountain of paper work that may turn out to be more trouble than the company was to begin with. This will also require the services of an attorney versed in these methods which will hurt you on the way out of the business as well. Money tips here Slide 8: When interest rates are high, incorporating your business may be practical to get the money you need to start up a business and run it. When you go public with your corporation you are looking at more legal paper work that will require an attorney to deal with and an investment company to sell your stock. Bringing the public in on your business venture is not a bad idea, but it will require some flexibility. Slide 9: When starting up a business, you should keep in mind an LLC, Limited Liability Company. An LLC combines the benefits of a private partnership as well as a corporate entity. It is simple to form, easy to run, it has tax advantages, personal liability protection, and instant credibility. An LLC allows a person to separate their personal assets from the assets of the business allowing for a greater peace of mind. FREE ABC's of Success at http://www.commandobusiness.com Slide 10: You can learn all about how to build businesses, make money, get rid of debt and turn money worries into infinite sources of cash but its all a waste of time unless you get the real secrets of how to get it done. www.the-richest-man-in-babylon.com Get his famous introductory 20 FREE lessons eCourse about Making Money that over 179,000 people have studied and applied at: Slide 11: DAN CAVALLI’s noted by the “Financial Review” as one of Australia’s “Internet’s Untold Millionaires”. He is also the author of the internationally sold financial book, "Blueprint for Making Millions." Get your FREE chapters here: www.blueprintformakingmillions.com About The Author