Earlier, the Obama Administration had proposed taxes on multinationals in order to help raise $200 billion in revenue. However, at the urging of big business, that plan has been shelved. Businesses have managed to dodge a tax bill that some were concerned would tax businesses at a time when the recession is causing problems for the economy. The fact that earnings news is improving apparently doesn’t provide enough of an incentive to change things.
The $200 billion proposal would have changed the way overseas profits would be taxed, resulting in higher taxes for large multinational companies doing business in other countries. …read more

Myth: Entrepreneurs are risk takers, like Evel Knievel.
The Truth: The derivation of the word “entrepreneur” includes the concept of ‘risk-taking.’ And many people assume that entrepreneurs (small business owners) are risk-takers. But look carefully at this assumption. What kind of risks does a new business owner take that the “average” person working for a company not take?
Which is more risky? Well, you could lose your company if you don’t do a good job of managing cash flow and getting in customers/clients. But, if you worked for a big company for 30 years, you could get laid off just before …read more

When starting a new business, it is always helpful to have a plan that will help guide the direction of your business. One of the tools that you can use to develop your plan is a mind map. More details about mind mapping can be found on this website.

Project Management Tool: MindMeister acquires MindMaker
Using Mind Mapping for Project Management

Below is a sample mind map that I have created as a way to get started with mind mapping.
click to view larger image
This is a very simple mind map that has three basic branches.

Branding: ways that you can start “advertising” your business …read more

Congress has appropriated $255 billion to the Small Business Administration for emergency loans to small businesses.  While the SBA is preparing its guidelines, it’s time for you to get ready, if you want one of these loans.  Certainly the SBA will attempt to “fast track” the loans, but the competition will be fierce, and you must be ready with all your paperwork in order.  I’m not a banker, but I know what banks traditionally require for small business loans, so if you want your request to be taken seriously, here is what you need:
Excellent Credit. If you have business credit …read more

Starting a small business is like juggling plates. In other words, it’s not easy, but what is?   Starting a business involves many different tasks and projects, and you will need to work on many of them at the same time. It’s kind of a chicken-and-egg thing, but there’s no way to tell for sure which comes first – the chicken? or the egg?
Here are some examples of what I mean by juggling:
Leasing and Financing Juggling Act: You must find a location for your business, so you’ll be running around looking at offices or buildings or warehouses. At the …read more

When I first started out in business over 10 years ago, I didn’t have a written business plan. Yes, I had ideas. Yes, I had connections, ways to market and a pretty good idea of how much money I wanted to make. But a business plan? Nope, didn’t have that. Primarily because, like many other new entrepreneurs, I didn’t think I needed one for such a small-time idea (I started out as a resume writer). Small time as in a one-person operation, low overhead, etc. But, I was wrong. Any business that you go into, even if it’s sweeping sidewalks, …read more