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Archive for February, 2010
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Quickbooks or Accountants
Reading time: 4 – 6 minutes First, I hate accountants they are as unnecessary to me as half the shows on Bravo. But, when you start a business it’s best if you get a recommendation from someone else who runs a small business. Taxes are a MOFO in this game and you need someone to present them properly so you don’t end up getting audited. So what does Quickbooks have to do with all of ...
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Office Setup for Cheap
Reading time: 4 – 7 minutes Usually when someone starts a business they spend too much money buying everything new. Realistically everyone knows you just started a business and unless you are interviewing the queen of England no one really cares. A great office is a functioning office, not a beautiful office. You can spend time making it beautiful when you get a lot of clients but in the mean time here’s exactly what I ...
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Cheap Office Space
Reading time: 3 – 4 minutes When I started my company I did it in the bedroom of my apartment. I knew I didn’t need a office because of the type of business I ran but even if I did I would’ve done it the exact same way. Signing a lease for a office is a unnecessary expense in the beginning of your hustle as it makes you buy all kinds of stuff to make ...
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LLC or Limited Liability Company
Reading time: 2 – 4 minutes A LLC or Limited Liability Company combines the features of a corporation and a partnership. Should not be called a corporation although a lot of people make the mistake. The LLC is best described as a new company formed between members. So you might have a corporation as one member, John Doe as a member and even a Church as a third member. It is the structure that allows ...
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Integrity Podcast (In the Black Series)
Reading time: 1 – 2 minutes The cornerstone of all business and money is Integrity. It’s just the way most of us come into making any kind of money is maneuvering through a minefield full of people who don’t. We have bad examples of Men and Women who translate them being a victim into victimizing others and saying they have Come Up. It’s never too late to right a wrong but if you don’t learn ...
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Sellers Permit aka Game Changer
Reading time: 3 – 5 minutes In different states it’s called different things but this is the best permit ever created. In some states it’s called a wholesale, resale certificate, reseller permit, state id or sales id! This is the permit that allows you to buy from places at WHOLESALE PRICES! This is the key permit that is missing in everyone’s street hustle. See most people are happy to find a CONNECT but that’s just ...
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Interacting with the Bank
Reading time: 3 – 5 minutes When you come into the bank to set up your business account remember one thing “THIS IS YOUR BUSINESS” not your personal checking account. The difference is humongous because you are setting up a relationship where it is beneficial for both of you. You as the business owner are bringing in money that they the Bank may never have seen. See most make the mistake of treating their business ...
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Tax ID aka Business Social Security #
Reading time: 3 – 4 minutes Getting a Tax ID# is the most simple thing to get when it comes to business but since most folks don’t know what it is they usually pay someone to do it. A Tax ID# is like your business Social Security #. This number proves to the banks, credit card companies and to the state that you exist. When they slap the baby’s ass to check if it’s alive ...
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What type of company should I form?
Reading time: 2 – 3 minutes Picking the type of company structure you want to start with is usually what trips a lot of people up. Many first time businesses are setup under the owners name and social security # and can cause them to lose everything later. Every tuesday I will highlight a different company structure and identify their strengths and weaknesses… Sole Proprietorship - This is the most common business structure. This is ...
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