Entrepreneurs and business owners alike are some of the most driven people you could meet. The passion in their eyes is almost blinding. The goals they set for themselves are remarkable! And now with the economy in such turmoil, I can see the hesitation becoming overwhelming.
A National Small Business Association survey of 500 small business owners found that sales and profits had dropped and job growth was at the lowest point in 15 years, problems that could have a significant impact on an already shaky U.S. economy.
The survey also found that 71 percent of business owners have a “negative outlook” on the economy compared to 43 percent a year ago; confidence in their business’ success dropped from a high of 81 percent a year ago to 70 percent now.
To keep your business from being impacted by any of the challenges the economy is facing there are 4 key points all business owners need to address once they have incorporated to maintain the positive mindset you started your business with.
1. Life After Incorporation
2. Establish Asset Protection
3. Financial Planning
4. Developing an Action Plan
Today I want to talk about the very first steps you need to take once you have incorporated.
First, you need to understand your company’s roles and who will fill them. Understanding the need for leadership within the organization and how to provide that is the key to the success of the business owner.
Second you must meet the legal requirements of running a corporation.
Third, regain control of your corporate records.
Fourth, get your company in compliance. Some of the things you will need to focus on include:
1. Open a separate bank account for your corporation.
2. Start a minute book for your corporation’s meetings.
3. Hold your first board of directors’ meeting.
4. Issue certificates to your corporation’s initial stockholders (if applicable).
5. Obtain business licenses and permits for your corporation from:
6. Follow all legal requirements for running a corporation.
Incorporating can be a long-term benefit to your new business in the long run, but the process can be complicated. To ensure that your new business complies with your state’s legal requirements at all steps in the incorporation process consider retaining the services of professionals who are experts in these processes.
The companies that see through these times of turmoil are the companies who come out significantly ahead of the rest.
One way to gain clarity and see past these challenging times is to learn from people who have actually achieved success. We have four of the Nation’s top business experts meeting in the Philadelphia area for three days in November, offering invaluable business insights, proven strategies and techniques on raising capital, building corporate credit, separating personal and business finances and protecting your assets. Our trainers, David Gass, David Francis, Mark Del Guercio and Scott Fritz have been featured in INC 500, Entrepreneur Magazine, Inc., Kiplinger and Business Week as well as business experts on radio and television.
By attending the ‘It’s Only Business’ Workshop: Business Strategies for Today, you will
discover the insider secrets on how to succeed in an economy that has been said to be putting consumers in greater trouble with banking woes, rising debt levels, and unemployment.
Wanting success isn’t enough. You have to take ACTION and NOW is the TIME! Seating is limited so you need to RSVP to secure your spot so don’t delay!
Register Now by clicking here:
www.itsonlybusiness.com/seminar
