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Most Recent Questions in Grow Your Business

Question added to topic Grow Your BusinessOctober 19, 2009

What are some alternatives to a bank loan?

The specific course of action you should take depends on several factors including but not limited to, the nature of your business (product/services, customer base, business location), the scale of... (more)
Question added to topic Grow Your BusinessSeptember 9, 2009

How can I separate my business and personal credit?

A few basics to ensure separation of business and personal credit are: 1. Establishing tax ID for business. 2. Establish separate bank and credit card accounts for the business using its tax... (more)
Question added to topic Grow Your BusinessJuly 23, 2009

What is the best way to reprimand female workers?

It depends. What is the relationship of the manager and the employee? Are other people within ear-shot? Does the female worker want another person in the room? It is good policy that if an... (more)
Question added to topic Grow Your BusinessJuly 8, 2009

What are the main benefits of businesses going online?

Here are a few reasons: - Lower operation costs (no need for a fancy office, you can work from your garage and nobody cares). - Internet marketing is a lot more affordable than traditional... (more)
Question added to topic Grow Your BusinessJune 19, 2009

What should I do about my business partner cheating me out of my money?

Whether or not you're actually being cheated by your business partner, there are several steps you can take: 1. Engage a qualified accountant to review the financial books and records--the... (more)
Question added to topic Grow Your BusinessMay 12, 2009

The small business I work for has management problems, how do I deal with it?

Since career planning has taken a back seat these days to simply keeping a good job for many employees, you just have to deal with reality and realize you are working for a company with severe... (more)
Question added to topic Grow Your BusinessMarch 29, 2009

Would I benefit from changing my LLC/sole proprietorship business to a corporation?

I am not an attorney, so take this as the best guess of somebody who's been in business for a lot of years -- definitely not legal advice. In my experience, the general idea that having the... (more)
Question added to topic Grow Your BusinessMarch 27, 2009

What is the best way to market a home-based office management business?

Start by reaching out to the businesses that are the most likely to have a need for your services and are large enough to pay for them. I recommend you target other home-based businesses, with an... (more)
Question added to topic Grow Your BusinessFebruary 17, 2009

Should I turn my for-profit business into a non-profit?

You would need to see the benefits for you in your particular locale and municipality, and talk to a good tax accountant or tax lawyer to see what advantages you may gain from this change.... (more)
Question added to topic Grow Your BusinessFebruary 17, 2009

How do I determine how much to sell my business for?

Usually you can determine this by multiplying the EBITDA (Earnings Before Interest Taxes, Depreciation and Amortization) by a multiple for your industry. Typically, for most businesses of this... (more)
Question added to topic Grow Your BusinessFebruary 17, 2009

How do I get permission from companies to sell their products?

Contact companies with whom you want to do business with and negotiate to buy a supply of their products so you can resell -- having everything you need in place administratively and legally to be... (more)
Question added to topic Grow Your BusinessFebruary 17, 2009

How do I find a reputable manufacturer for a particular product?

Yes, there are agents to help with this process. The challenge, however is that they need to see evidence of volume to "rep" your product. An alternative is to attend an expo or... (more)
Question added to topic Grow Your BusinessFebruary 17, 2009

Is it ethical to raise my prices after less than six months in business?

Yes, it is. When you are first in business, you may not know the prices you need to charge to cover your costs and overheads. Now you know, and you can adjust accordingly. Raise your prices on... (more)
Question added to topic Grow Your BusinessFebruary 17, 2009

How do I obtain a UPC code?

You really don't need a UPC code, however, if you are working with a re-seller or distributor, they may require you to have one. Check with your distributor or reseller to make sure you meet... (more)
Question added to topic Grow Your BusinessFebruary 17, 2009

Should we outsource to grow rapidly and sacrifice some quality or keep everything in-house and turn away new business?

You can outsource the very basics, and in the meantime develop a system for recruiting and training so you can eventually bring everything in-house. For that next step, you may want to consider... (more)
Question added to topic Grow Your BusinessFebruary 13, 2009

How should I divide profits in an LLC?

Run -- don't walk -- to the nearest business attorney who works with software start-ups. Your question shows that you are mixing up important legal entity concepts (you don't have stock in an LLC,... (more)
Question added to topic Grow Your BusinessFebruary 9, 2009

Which holidays should I give my employees off?

Federal offices (i.e. post offices and banks) are closed on specific days; but other businesses decide for themselves what they want and can afford to provide. There is no federal law requiring you... (more)
Question added to topic Grow Your BusinessFebruary 3, 2009

How do I start offering financing to my customers?

First, question your assumptions: do your larger competitors really offer financing, or do they have loan brokers they can recommend, quickly, so their customers can get the financing they need?... (more)
Question added to topic Grow Your BusinessFebruary 3, 2009

How soon should I get my EIN and tax information setup?

The EIN and tax information setup are relatively simple steps to take. More important is to have a working relationship with bookkeeping and accounting functions, either by having a bookkeeper or... (more)
Question added to topic Grow Your BusinessFebruary 3, 2009

Do I need a "license to assemble?"

Zoning ordinances and permits are very prickly things. Running a retail business that has some foot traffic is very different from running an event space where you can expect larger groups to... (more)
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