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Whats up Young Boss, Picking a business structure is an important part of your business planning. Depending on how many business partners will be involved in the business to how you intend to protect your assets in case you are sued by a client, your business structure can help or hinder you if caught in a jam. The following article will help you decide what business structure is right for you. YoungBossEconomicClub.com Copyright 2017
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What's Up, Young Boss! Is your business on social media? Are you having a hard time keeping a consistent schedule to make posts, build your following and keep them engaged? If you are having a hard time managing your social media accounts while also running your business, you may want to hire someone to handle your social media pages for you. In this new era of technology, a new job title has emerged that will handle all of your social media needs. It's called Social Media Marketing. The role of a social media marketer is to help businesses promote their brand, build their following, and most importantly increase sales. How to increase sales with social media marketing The power of social media allows a marketer to target your ideal customer base, something print and radio ad
What's Up, Young Boss! Being a first-generation entrepreneur is hard. Your family either thinks that you should have a lot of money already OR that you actually don't work and don't have a legitimate business, especially if it's an online business or a multi-level marketing business. You will probably get scammed like the rest of us and have rough days mentally and financially. As a first-generation entrepreneur, the following are the most painful lessons to learn and will determine whether you are fit to be an entrepreneur. Your family does not understand why you can't just get a job and be happy When you are the first to start a business in your family, there will be plenty of days that you feel lost and unsupported. To most people, starting a business is a scary idea
What's Up, Young Boss! Being clear about what you want from your business is going to be vital to your success as an entrepreneur. We all have something that we are passionate about but will our passion business generate the type of revenue that we want and need to pay for bills, debt and desired lifestyle. Maybe you want to pay down student loans or maybe you want to save up for a family trip to Disney Land. No matter what your financial goals are, you need to be clear about what it is that you want to accomplish because if it's not going to make you the money that you need, you should try doing something else. Is My Business Real or Is it just a Hobby? A passion that does not make you any money is a hobby. The first year, or two, for most businesses are challenging.
How often do you think about money? Do you think about it ALL ThE TIME? I think it is my God-given right to live well and free. You may call it rich because of the money I call it rich from the potential of being my own person, with my own income. With My Own Income. If you really want to change the world, change your relationship to it. If you continue to stay where you're at, what change can be expected?
What's Up, Young Boss! Let's be real for a moment! Starting a business is hard and staying in business is even harder. There are days when you will feel like your business is failing and will never hit the goals that you set in your business plan (I am assuming that you have a business plan). We are all entitled to have our bad days. This is the nature of being human. What I want to focus on are ways that we can overcome these temporary moments to prevent us from having unproductive days and fall into entrepreneur depression. Being a business owner requires you to be persistent and flexible because nothing ever turns out the way that you see it in your mind. Because I too have days when it's difficult to jump out of bed and get started, I wanted to share with you a few way
What's Up, Young Boss! Having a business account is a great way to keep your personal money and business money separate, even if you are running a sole proprietorship. A business account is absolutely necessary when your business has partners and staff. At this point, the business is its own entity and the account does not belong to one person, but to the stakeholders of the business. Below are 5 things that you will need to set up your small business account: 2 forms of ID: Driver's License, Passport, Bank Card, etc. A Tax ID (EIN): Go to IRS.gov site and apply for an Employer Identification Number (EIN). It takes 5 minutes to apply for an EIN and receive your number. Registration Documents from your State: When you register your business, (sole proprietor, partnership or c
What's Up, Young Boss! As a first-generation entrepreneur, having a business mentor is vital to your longevity. We need business advisors that will give us honest information that is helpful to our business and personal journey. A business mentor is any person that owns a business, that you would like to learn from, who is also willing to help you achieve your business goals. Having a mentor will help you avoid common pitfalls that many entrepreneurs experience. A mentor will teach you practical information that will allow you to skip steps on your success path and help you get to your destination quicker. How to find a Mentor Here are 3 quick ways to find a business mentor: People that you already know. Maybe you know a successful entrepreneur who you would like to be your m