From Entity to Enterprise in 90 Days

There are many ways to create a profitable online business ranging from free do-it-yourself instructions to the "business in a box" solutions. Which ever method you choose, there are proven methods of increasing the visibility of your company as well as the amount of income it generates for you.

Keywords:

niche marketing, online advertising

Article Body:

How do some online businesses go from relative obscurity to household name in a very short period of time? While the number one answer might be advertising, it is also the most expensive method of gaining recognition. It is also extremely important that every aspect of your business model from administration to product fulfillment is flawless as you must create credibility to match that sudden increase in visibility.

The internet is an environment where creative genius is a suitable substitute for cash when it comes to gaining visibility for your company. As a matter of fact, there are many individuals who have quickly become millionaires just by repeatedly applying one successful business model within different product markets. Occasionally these individuals will share the secrets to their success for a fee, so I was overwhelmed by the time-tested strategies and course material which I found for absolutely no charge while researching ways to improve my own online business.

One of the most important strategies discussed is changing your attitude towards your competitors and viewing your competitors as potential partners. It is important to have some service or product that you are willing to cross promote with them, for a commission of course, but even more importantly for the exposure to their customer base. Since there is no brick and mortar presence, your business can only grow by exposure to new potential clients. It may cost you a small percentage of your first sale, but a large percentage of satisfied customers will return. It is a difficult concept for a new online business owner to grasp, but the majority of your company’s value is determined by the size of your customer database. The faster you build your client base, the faster you will catapult your income to seven figures or more. I would guess that the thing to do would be to partner with as many companies as possible, as quickly as possible, and then position your self for total domination.

Marketing online is so much different than I would ever have imagined. The whole concept of the more you give, the more you get, is so foreign in the physical world, but a necessary tactic of online survival. Another way of increasing your customer base is through the use of viral marketing. I know that it sounds like you are spreading a contagion, but that is in fact the concept. In a nutshell, you create an information product for whatever your market happens to be. As you are writing it, think about how much it would be worth if you sold it. Once you are satisfied that you have created a premium product, make certain that your name and contact information appear in various conspicuous places, and give it away. Not only can you literally trade it for a prospect’s name and email address, but you can encourage them to pass it on to their friends. Ideally, a file which requires their name and email to unlock it would be something to consider.

Hopefully, this information will also help you with increasing your business.
Best of luck to you.

Joseph Napolitano

Entity Structuring

Entity structuring is the use of limited partnerships, limited liabilities, and corporations. These can help you accomplish three things:

Keywords:

tax deductions, tax tips, wealth building

Article Body:

Entity structuring is the use of limited partnerships, limited liabilities, and corporations. These can help you accomplish three things:
1. Bullet-proofing your assets so that the bad guys are worse of if they try and take them away from you.
2. Slashing your taxes so that they are within single digits.
3. Protecting your privacy and building lasting wealth.

Let me explain how this works with the following example:

A case study: My friend Patrick grew up with the family business. His family sold expensive boats. His business grew. He was a financially intelligent man so he wanted to add a stream of income. Therefore, he decided to start a Marina, a land storage facility, a parts shop and a show room. I wanted to make sure he was properly protected and that he had bullet-proofed his assets. However, he was too busy making money to focus on it at that time. This was his fatal flaw. One day, I got that dreaded call from Patrick. The sheriff deputy was there to shut down his businesses: the Marina, the parts shop, the storage facility, and the show room. His business was locked down with pad locks in a matter of hours. Within six months, he lost all of his personal assets and filed both personal and corporate bankruptcy. The tragedy here is beyond his loses but the fact that this situation was completely avoidable. You can prevent this from happening to your business by using two power tools:
1. Limited Partnerships: separate legal entities. They separate your personal assets from business investments.
2. Limited Liability: similar to Limited Partnerships as they form a wall between you and the creditors and predators.

These two power tools include a built-in charging order that does not apply to your typical “S” or “C” corporations. A charging order basically states that the “bad guys” can not go after your assets. They will be able to go after income but not after you employ the following strategy. We can set up a separate management company for you. Then, you can shift your money from your LLC or LP into your separate management company. The last step in your protection is called imputing income, and it finalizes the prevention of lawsuits. The IRS can step in and tax these bad guys for the money they are suing for (even when they are unable to collect this money.) This ensures the fact that suing you will not be worth the effort.

In summary: They can not touch your assets because you have protected them. They can not receive the income because you have shifted it out. They are left with heavy taxes imposed by the IRS. Therefore, the likelihood of you being sued is next to nothing.

Business Entity Options

Setting up the structure of your business is a project you need to research. Your decision should be based on knowledge and professional help.

Keywords:

business,

Article Body:

When forming your new business structure, you must consider the best possible alternative of the available business structures. While a sole proprietorship is the easiest type to create, there is no separate identity. Personal liability belongs to the owner. Should there be a lawsuit, accident or you incur debts that you can’t repay, your personal assets are at risk.

The type of entity you choose should be based on careful consideration. Each state has specific rules for the structure of each type of entity. You should investigate the type of entity, the rules and laws pertaining to each in your state and at a federal level.

The choices are – sole proprietorship, partnership, limited liability partnership, corporation, C corporation, S corporation, and LLCs. Sole proprietorship provides the least protection while corporations and LLCs offer limited personal liability for debts or judgments against the company.

When creating your entity, you should use an attorney to create written documentation of the entity’s organization and structure. Your attorney, accountant or CPA can advise you of the legal and all tax consequences of your choice. Doing a little research prior to contacting a professional will reduce the time spent with an expensive professional. Do your due diligence to protect yourself and your family.