General Business

Accounting

Accounting Accounting is a very important part of running a business that trips up many entrepreneurs. It is important to get an accountant and do that early in the business planning stages. Requirements If audited by the IRS you need records to prove: Income Deductions Profit or loss for each year We cannot provide an exhaustive list so make sure to check with your accountant More Record Keeping Daily transaction records: Keep 7 years Cancelled checks Invoices Purchase orders Etc. (we can’t provide an exhaustive list) Keep payroll records: Forever Original Tax Returns: Forever We cannot provide an exhaustive list Read more

What is a Startup?

What is a Startup? Someone told me that a startup was a business that if you went away for six months and came back it was in ruins because not enough stability and management was there. A business will be there and profiting while you are gone. [psCode: PostAdvisorFormBlock]

Should You Drop Out of School?

Should You Drop Out Of School? No. Don’t drop out of school. Why? Because the real world and various other factors. The Real World You haven’t seen the real world yet. It is much different than any of us ever could have imagined. There are bills, you have to cook and clean for yourself, etc. You don’t want to be learning life right out of the gate with a startup around your neck. Your startup will suffer or your life will. Get a job with your degree so you have something to fall back on. Nobody is going to financially Read more

Niche Website

Niche Website Niche websites are pretty easy to do. They rely on the vigilant updates and research of a niche hobby or interest. You gather as much information together in one place as you can. You become an expert on this niche thing. It is hard to find enough good information on a niche hobby so once someone finds the authority and commanding expert of that niche field of interest, they are going to come there for the information. They come there so they don’t have to look at the tons of other websites that won’t give them as much Read more

Small Business Ideas

Small Business Ideas A lot of people ask about finding a good idea to start with. Some people have huge expectations and overlook the businesses with lower cost entry. To bootstrap a project you are going to need a low cost entry business. There are so many people on this planet and so many things needing done that there isn’t an end to the work or opportunities. Some ideas are one offs that saturate the market fairly quick and then there are things that almost every town could handle. Some are cheap and some aren’t. Some are hard working type Read more

Patents, Trademarks, Copyrights, and International IP Law

Patents, Trademarks, Copyrights, and International IP Law There are some resources online for this. View them below. Government Operated US Patent and Trademark Office Inventor Resources Patents Trademarks Intellectual Property information Copyright office Other Legalzoom: Legal documents and information. [psCode: PostAdvisorFormBlock]

Sources for Business Information

Sources for Business Information There are a lot of blogs and stuff out there but there are some very large communities as well as excellent resources. We want to only list the best here. No small blogs or small websites. Only the largest that have the best information. Government Operated Business USA US Patent and Trademark Office Inventor Resources Patents Trademarks Intellectual Property information Copyright office Other Score.org: Information Legalzoom: Legal stuff Communities Hacker News Reddit – /r/entrepreneur Reddit – /r/startups Reddit – /r/hwstartups [psCode: PostAdvisorFormBlock]

Patents

Patents Patents are great for protecting your ideas in various formats. (dictionary.com result of idea) More information about patents can be found on the USA Patent Offices patent page. INVENTORS: If you are an inventor you should check out the patent office’s inventor page. They have created this to aid inventors in the patenting process as well as scam prevention and numerous other topics. Find the inventors help page on the patent office. What they have listed Patents for Inventors: Tools, FAQs, Downloads Trademarks for Inventors: Tools, FAQs Inventors Assistance: Local assistance, Customer service Education and Information: Online chat transcripts, Read more

When a Large Company Becomes Your Competitor

When a Large Company Becomes Your Competitor Most people will give up when a competitor comes along. Don’t do this. There are competitors for a reason. Why shouldn’t you be affraid? Because someone can always be beat. Look at some of our examples. Example of Takeovers Hotmail -> Gmail Mapquest -> Google Maps Photobucket -> Flickr -> Imgur Citysearch -> Yelp Yahoo -> Google Friendster -> MySpace -> Facebook You just have to have a better product. Generally startups or smaller businesses are more agile and capable compared to large companies. Large companies have a lot of bureaucracies to deal Read more

Payment Methods

Payment Methods There are so many things we want to do and so many reasons for having different payment methods. We will go over some methods. Online Setting up your own gateway Setting up your own gateway is difficult. It involves a lot of programming, setting things up with a bank, getting your own gateway, etc. It just is a huge hassle. On top of that, people don’t want to give their credit card number to a website they have never seen before. Now when your website gets big and popular, you can pay someone to build you a really Read more