CPA|CFO. Attentive, Objective Problem Solver
You can fund your new Corporation bank account by depositing personal funds into that Corporation account for initial capital for the business. That investment can be classified as a loan to the Corporation or may be for issued stock shares of the Corporation (a needed conversation). I can help you set up ta chart of accounts, based on your specific business, which can be used by any accounting system but I mostly work with QuickBooks Online. (Message me for a referral to a Xero bookkeeper if Xero is imperative.) Best wishes!
Growth Consultant & Founder of Upreports
Hey, Wordpress is a good choice if you only want to display products, videos, and blogs. Wordpress is pretty fast. So, it will certainly help you in scoring high in terms of speed. Mobile and desktop experience can also be balanced. That said, almost everything depends on finding a Wordpress theme that: 1) Fits your design vision 2) Is fast 3) Offers impeccable mobile and desktop experience Though the task look simple, it isn't. You can judge the visual appeal of a theme on your own but you will need help of a developer to see its technical strengths which will determine whether it will performance as fast as you want it. Also, you will need a developer to deploy the theme correctly, secure it from hacks, and also make design & programming tweaks. My team takes care of theme selection, deployment, and updates for the websites we manage for our clients at nominal fee. I can get the same done for you. Email me at varun@upreports.com to discuss further. Or simply call :) Further reading: https://www.upreports.com/blog/small-business-website-design-wordpress/ Chao!
International Tax Attorney and U.S. CPA
Your company is required to file Form 1099-MISC for each person you paid rents of at least $600 during the year. There are, however, certain exceptions where some payments do not have to be reported on Form 1099-MISC. Generally, any payments made to a C corporation, S corporation, or an LLC treated as either a C or S corporation, are exempt from reporting. In addition, payments to a tax exempt organization are also exempt from reporting. You should request the non-profit organization complete and sign a Form W-9 which certifies its tax exempt status. You can certainly report the rents if you wish, but you are not obligated to report rents or other payments to tax exempt organizations.
International Tax Attorney and U.S. CPA
When you open a bank account for your corporation, you'll need to make an initial deposit with your personal funds. A shareholder's initial contribution can be recorded as either debt or equity. If you want to record the initial contribution as equity, you would debit cash for the amount deposited into the bank account, and credit an equity account, such as “shareholder’s equity” or “capital stock”. Alternatively, you can record the deposit as a shareholder loan. Debit cash for the amount deposited, and credit a liability account, such as “Loans from Shareholder”. There are also methods to bifurcate the contribution by recording a contribution as a combination of debt or equity.
Product Marketing
5
Answers
Sales training and consulting for the complex sale
You answered your own question when you said "I built it for me, but feel that it has commercial viability for many others." Other than what you said, what problem did you design it to solve? Who are "many others"? What problem do they have? Why not cruise the Excel forums on the MS support site and see if others have that problem? Enlist some of them to help you find how to market it?
Online Marketing
3
Answers
I am a photographer based in the Netherlands
If you're in marketing, a great way to attract people to your website is through blogs writing. There are so many topics you can write about. Teach people something and they will come vack for more. The important thing when writing a blog is not selling your product. You have to write something usefull for your potential users to create awareness. Slowly lead them further down your tunnel. At the end of your blog you could send them to a landing page related to your blog post. After a few blogs and after you have enough people reading your blogs, you have to write one blog talking about your product/service and refer them to a landing page that explains more about what you have to offer. If you have any questions. Call me. I can tell you more about what's important for your blog posts. What to inclide and what not to and help you gain loyal potential customers for your platform.
Management Consulting
Let others do the heavy work: use a software solution. There are many out there, so start with exactly what you need to know (the information you need to have available comes first, then you determine what and how to track). Do some research on the available software and then call up a few companies and explain what you need, asking how they solve that problem. Think of your priorities here: the right solution should be simple to manage, give quick access to information, not require a lot of interpretation, etc. Beyond the software, think about what you can plan for to help give you the information you need. Build certain budgets to help manage how you categorize and view different invoices and areas of cashflow. Remember, the key is to have immediate information, not just data.
CTO & Scrum Master @ Oval Money
Hey! If you are US-based the cheaper and faster option is to use a service like clerky.com, they provide little to none customization but it's good enough for anything before a series A. After that I strongly suggest to use an international law firm, I've had good experiences with Bird&Bird and Orrick
Digital Business Consultant
Gig economy is taking over industries and consulting is no exception. Global management consulting industry is said to be worth around USD 260 - 300+ billion, depending on how much we blur the line between management and technology consulting. Another research says that 20% of the industry works in micro-consulting firms (freelancers included). If we ponder it by the difference in average contract size, we get approximately USD 20-50 billion. Of course, the trend can be easily observed in a rapid growth of freelancing consulting sites (e.g. as this one). My personal opinion is that it's not really an opinion, but rather a fact. However, the question can be observed and discussed from multiple angles. If you want to get more info, feel free to contact me. :)
Venture Capital & Business Development Consultant
The best method to facilitate funding transactions for an accredited investor on the Fundable platform is to use the platform's built-in investment management tools. These tools allow for easy communication and documentation sharing between the issuer and investors, and also provide a secure and compliant way for investors to complete their investment transactions. In addition, Fundable's platform also allows for the use of electronic signatures and electronic funds transfer for added convenience and security. It's also advisable to consult with a legal advisor to ensure compliance with the regulations.
Book Publishing
3
Answers
Photography and Marketing Consultant
Hello there could be many ways to publish your own book with a small cost. About the editing, you can edit the book yourself or hire a graphic designer that will do for you. About publishing, I can suggest platforms like amazon or blurb that have their own publishing platforms that allow you to publish and sell on the biggest book platforms and even bookstrore around the world, but your book has to have certain criterias based on the platform you want to use. The copyright is yours untill you decide to sell it to someone.
Entrepreneur
Licensing allows you to give suppliers, competitors or complementary businesses certain rights over your patent, while receiving royalty income and still retaining ownership of your asset. To be successful, a licensing arrangement should benefit all the parties involved. By acquiring rights to a patent, a licensee can: create new products, services and market opportunities for themselves reduce costs to acquire new technologies, without having to develop their own save time getting a new product to market gain competitive advantage over rivals, especially if their licence is exclusive If put into place correctly, licensing can be lucrative and mutually beneficial to both the patent and the licence holder. However, licensing can also increase potential competition and risks for both parties, so it's important to consider potential pitfalls. Disadvantages of licensing patents It can take a lot of effort and determination to find the right licensee. To give your product the greatest chances of success, you should put a lot of thought into evaluating potential licensees and structuring your licensing agreement. Other potential risks and downsides to patent licensing include: loss of control (partially or fully) over your invention relying on the licensee's ability to effectively commercialise your patent risk of poor strategy or execution damaging the product success poor quality management damaging your brand or product reputation In addition, by licensing out your product, you are effectively creating competition for yourself. You may try to limit the scope of the license as much as possible to avoid giving your competitors unnecessary advantage in the marketplace. Keep in mind that you will need to manage your relationship with the licensee carefully. If things go wrong, you may find yourself in disputes or needing to cover legal costs. Before you sign over any rights to your patent, it's worth doing due diligence checks on any potential licensees to assess their suitability and track record. If you decide to sell or license your patent, you should keep detailed records of any contracts or agreements you have made. Seek legal advice if in doubt.
Hands On Social Media Strategist & Consultant
Hey! So if you just need it for purely scheduling, Buffer is no-fuss and I would 100% recommend them. BUT if you want to manage comments/engagements, have in-depth reporting and analytics, I would recommend Sprout Social. I haven't tried Hubspot before, but I've used Sendible and Planable. If you need clients or a "higher up" to approve posts, Planable can do it, but they can't auto post to IG (you have to schedule it, then the phone app notifies you) which is one of the main blockers. If Sprout Social is out of your budget, I recommend checking out Social Report! It's what I use when I need complete management but I use Buffer for when I need just scheduling. Hope this helps, LMK if you have questions.
Contract Management
5
Answers
Business Strategist & Conversion Expert
Disclaimer: I am not a lawyer nor an accountant, and this is not "professional advice." I have, however, set up a few businesses and had partners. What you need to do is incorporate and then write up an Operating Agreement that lays out the terms of your partnership. Who owns what. How the new partner will "buy into" the organization with their sweat equity. What happens when revenue targets are reached. And how exactly you separate when it's time to move on. Lay these details out and more in your operating agreement. You'll be so happy you did, later. When you incorporate, you may do this on your own...or you may want an attorney or accountant to help. They will know how to set up an operating agreement, but now that you know the term it's likely you can google a template. There'll be a lot of technical mumbo jumbo in there you probably won't need, but the section headers will guide you in the right direction.
Startups/Troubleshooting Expert; Business Sales
A great concept is to trust no one! But it depends on your idea, as to what can be stolen and how to safeguard it. We are dealing with an extremely delicate situation right now, where we are selling the "concept", without giving away the technical details that would compromise the sensitive information. If your concept is that sensitive, I would get an attorney to provide you with a Non-Disclosure/Non-Compete Agreement for your consultant to sign, before sharing information with him/her. Contact us for further clarification, if you wish.
Entrepreneur
A company can issue common stock through an initial public offering (IPO) or by issuing additional shares into the capital markets. Either way, the money that is provided by investors that purchase the shares are used to fund capital initiatives. In return for providing capital, investors demand a return on their investment (ROI) which is a cost of equity to a business. The return on investment can usually be provided to stock investors by paying dividends or by effectively managing the company’s resources so as to increase the value of the shares held by these investors. One drawback for this source of capital funding is that issuing additional funds in the markets dilutes the holdings of existing shareholders as their proportional ownership and voting influence within the company will be reduced. Capital funding can also be gotten by issuing corporate bonds to retail and institutional investors. When companies issue bonds, they are in effect, borrowing from investors who are compensated with semi-annual coupon payments until the bond matures. The coupon rate on a bond represents the cost of debt to the issuing company. In addition, bond investors may be able to purchase a bond at a discount, and the face value of the bond will be repaid when it matures. For example, an investor who purchases a bond for $910, will receive a payment of $1,000 when the bond matures. Capital funding through debt can also be raised by taking out loans from banks or other commercial lending institutions. These loans are recorded as long-term liabilities on a company’s balance sheet, and decrease as the loan is gradually paid off. The cost of borrowing the loan is the interest rate that the bank charges the company. The interest payments that the company makes to its lenders is considered an expense in the income statement, which means pre-tax profits will be lower. While a company is not obligated to make payments to its shareholders, it must fulfill its interest and coupon payment obligations to its bondholders and lenders, making capital funding through debt a more expensive alternative than through equity. However, in the event that a company goes bankrupt and has its assets liquidated, its creditors will be paid off first before shareholders are considered. There are companies that exist for the sole purpose of providing capital funding to businesses. Such a company might specialize in funding a specific category of companies, such as healthcare companies, or a specific type of company, such as assisted living facilities. The capital funding company might also operate to only provide short-term financing and/or long-term financing to a business. These companies, such as venture capitalists, could also choose to focus on funding a certain stage of the business, such as a business that is just starting up.
Strategic thinker and communicator, author
Hi: Sounds like some great progress, especially since there's been interaction with potential customers. Frankly, the best route for pre-seed funding would be friends and family. The team will learn how to develop a pitch and give that pitch in a somewhat "safer" environment. Plus, after they land the investments, they'll be able to point to fundraising success when they do eventually go to angel investors, who will be more receptive to a more advanced business. Another option is getting into an accelerator program, which will ideally teach as much about building the business as it does in providing $, but that will take a separate commitment of time and resources to apply, get in and complete the program. If you wish to discuss, send me a PM through Clarity for 15 free minutes. Cheers, Kerby
Angel Investment, Venture Capital, Idea Validation
Evaluating a prospective investment requires getting to know a company over time. There are four main stages of evaluation: a) The “first read” (which can be an instant reaction to determine whether the deal matches the firm’s strategy), b) The first meeting (in which the team can be evaluated in person or over the phone, and questions can be asked about the company’s resources and business plan), c) Preliminary due diligence (which includes assessing whether there is a market for the company’s solution, competition, basic financial analysis, and initial customer and management references), and d) Full due diligence (a deeper dive into all aspects of the company’s operations and plan, culminating in an “investment memo” or “investment decision” presentation for approval by the partnership). It’s normal to identify possible deal terms, including valuation, to complete an investment memorandum. Feel free to setup a call if you wish to learn more.
Fractional CTO
For home services, Fridge Magnets are hands down the best marketing tool. US average is every person in a household visits their fridge 13x times daily, so 13x * 365 days/year == 4745 impressions for <$5 one time fee to have magnet manufactured + mailed to homes. Talk with people familiar with copy writing for magnets. Once you get this system working, you'll likely put me on your Christmas list, because of all the marketing money you'll save.
Affiliate Marketing expert
You can't do that with bemob , you will have to use analytics or other 3rd party tools ..
Business Lawyer
On possible solution is to set up a joint venture company in Australia in which the US Co is a shareholder so you can maintain and parent subsidiary relationship and keep accounts separately as well. Let me know if you want to discuss further. Regards Umar
Experienced manager and startup founder in GCC.
You've already received a lot of good ideas and suggestions and I've looked at your website. I suggest you add a "How it works" one minute video. Also I clicked the samples section and I still couldn't get it. If you are looking for people who would sell your product on a commission basis, that is possible but not easy. Feel free to get in touch.
Clarity Expert
Let's first of all position who are the audiences for an Immigration Firm. If we classified immigration into: 1- Skilled immigration (Employees), and 2- Business Immigration (Investors) Skilled Immigration fees are affordable and due to the high competition the Professional Fees are competitive and payment plans are there to attract more clients. HINT: Despite that, Applicants have to conduct an overall check up about the credibility of their meant immigration consultants. On the other hand, Business Immigration which involves a bigger amounts of fees and investment are treated somehow different. As per the country of destination and the route of immigration which is almost limited between Property Investment, Financial Instruments Investment and Donation varieties of payments plans are offered to attract Investors. In other words, Legal Fees and Processing Fees are considered as a small portion of the Deal which doesn't shape a concern to Migrant Investors rather than the tool used for immigration and the success rate of that firm. HINT: When choosing an immigration program it is preferable not to pick Immigration firms relying only on RCBI programs (Residency & Citizenship by Investment) as the risk lies in the project continuity as per the demand which to some extent can delay the whole immigration files under that project.
CEO/CTO, SaaS Marketing, Business and R&D
As the business or product is not described, I will answer it for a general SaaS product. Think from the reseller's point of view. Why will you try to sell it to your community (users/clients/followers). Don't think only about revenue opportunities, but opportunities at all. 1. Commissions, first line of support (any professional task, they can do themselves) - yes, when talking about revenue, if you are thinking of other opportunities, going further should be quite business specific. You already have the general stuff. 2. Value to community - they want to be seen as giving value. So you will need to provide an intensive like a further discount (for the 1st year). Or make a split discount/commission offer, and the reseller can decide on the amounts. 3. Freebies - related to above, you can provide some free stuff, just for their community (e.g. eBooks, free pro advice, tailored to the business). 4. Tailored offers - you can provide offers, tailored to the community of the reseller. Have a landing page, just for them. Tailoring needs to be cost effective, until the channel proves traction! The reseller will be happy to present content, tailored to his community.