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2. Table Of Contents
Wealth Creations.The American 1
A decision like this requires 2
And some just to help get the 3
Sole Proprietorships: 4
expenses orothermoney matter 5
When workingremotely, you’ll 6
You’ll need aprinterthat can 7
different advantages to LLC, S 8

3. Wealth Creations.
About
the
Author
It would be sel sh for me not to share this with the world.Hi how many of us have been
to entrepreneur seminars when some guru walks in the room maybe for a few days res
up the room then off to the next state. I know I been through that. Many people who
attend feel abandoned, skeptical etc. No more should that happen with this opportunity
that I am sharing there are coaches/mentors, community, special banking, contacts. I'm
talking about Real Estate Investing the way to create wealth and prosperity for
generations to come.
5 Signs that You are Ready to Open Your Own Business.
In today’s day and age, everyone has an idea for a business, but not everyone meant to
put these plans into action.
A decision like this requires a lot of careful consideration.
Nevertheless, the real question is how do you know if you are ready to open your own
business.
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4. Wealth Creations.
A decision like this requires a lot of careful consideration.
Nevertheless, the real question is how do you know if you are ready to open your own
business.
1. You Have a Product or Service You Are Passionate About
.For a business owner, passion should be everything. How can a business succeed if the
owner is not passionate about it?
Whatever your business idea is, be it for a product or service, you need to feel strongly
about it.
2. You Have a Plan
You cannot rely on passion alone when opening up a new business of your own. It is also
extremely important to have a plan in mind.
This plan needs to outline everything about your business, especially the following:
The product or service you are offering
The target audience, product pricing, pro t
How you intend to gain customers
How you plan to measure your success- by number of customers or net income.
Also, make note of concerns and potential obstacles, and possible ways to overcome
them, so that there is less of a chance of nding yourself caught off guard.
3. You Have the Funds
What does a person need to start a business besides an idea and a plan? Money, because
starting up a business is not cheap.
A new business needs money for many things:
Legal fees.
Product creation and associated costs
Marketing
Employee payment
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5. Wealth Creations.
And some just to help get the ball rolling.
While it is not cheap, the payoff can be immense.
Maybe you have been saving up just for this, or maybe you are willing to take out a loan
to make it happen.
Either way, if you have access to the funds, it is possible for your dream of having a
business of your own come true.
4 You Understand the Risks.
Opening a business is no easy feat.
Many people have tried and failed, even some of the great business owners we think of
today did not make it on their rst try. So, be prepared for that; understand all the
potential risks that come with starting a new business.
The better you understand the risks, the more prepared you are for running your own
business.
Wealth building education here.
5 You Have a Support System.
Support systems are important in and out of the business setting. Your support system
should be full of positive and encouraging people who love you, and support your
business ventures.
It should also include people who can give you advice when you have problems, or
provide insight on better ways to handle certain situations.
Ideal people for this situation would include family, friends, and mentors.
If you have been contemplating starting a business of your own, and exhibit all of the
above, what is holding you back?
With the right criteria and a drive to succeed, your dream can become reality.
Talk to your support system, go over everything, including the possible outcomes and ask
yourself, are you ready for a startup of your own?
WOW I just learned....
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6. Wealth Creations.
Sole Proprietorships: The Easy Way to Start your own business.
Did you know that a sole proprietorship is the least expensive and easiest way to start a
business? It is also one of the most popular ways to go when starting a home-based
business.
If you know about different types of businesses, you are aware there are other options,
like partnerships and limited liability companies (LLCs), and corporations.While these
are all choices for anyone starting a business, if you want to go the easy way, choose a
sole proprietorship, Here’s why!
Easy to Start
Your rst step in setting up a sole proprietorship is for you to start being business
minded. It’s simple once you know what type of service or products you’ll offer.
You don’t have to ll out any “of cial paperwork” to get started or pay any fees. You are
in business for yourself and by yourself.
When April rolls around, and taxes are due, you’ll need to ll out a Schedule C that shows
your business pro ts and expenses as well as your net income or loss.
Some types of businesses do need a special license, even if they are a sole
proprietorship. If you operate under a business name, then you may need to le that
name with your county or secretary of state for two reasons:
This helps to make sure you’re not using a business name already in use and keeps others
from stealing yours.
It’s also a good way for people to know exactly who they are doing business with.
You Have 100 % Control
A sole proprietor has full control over every part of his or her business. In the eyes of the
law, you and your business are one in the same. There are no employees or payroll to
deal with either!
Your personal debts are your business debts and you are personally liable for any
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7. Wealth Creations.
expenses or other money matters.
Drawbacks You Should Understand
Learn more here.
While being in control of an easy-to-start business may sound great, and for some it is,
there are some drawbacks.
Even though you and your business are one, you checking account shouldn’t be. You’ll
need a business account to help you prove expenses and revenue for tax purposes.
Getting a loan or nancing a sole proprietorship can be a problem if you don’t have good
credit. Your credit is your business credit. So, if you credit is damaged, getting nancing
for a growing business can be a real challenge.
You may need collateral to get the money you need to help keep your business running as
it grows.
Sole proprietorships aren’t for everyone. Sometimes it’s better to have a partner,
especially if you have damaged credit and need money for the business. A partner can
help when you are struggling nancially.But, if you plan to offer a service from your
home, like writing, editing, accounting, graphic design, or other services , you can easily
start up a business with little or no cost and keep it a oat.
Pay off you 30 year mortgage in 9 years in stead of 30... without changing your job
or doubling down $.... If you don't want to.
5 Must haves for Your home Of ce
Setting up a home of ce? It can be exciting as you see your home workspace coming
together and know this is your new job site. But, you also need to have the right
equipment.
You can’t get any work done, unless you have the essentials. To nd out the must-have
for your new home of ce, read on.
Computer
Anyone working from home is going to need a computer.
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8. Wealth Creations.
When working remotely, you’ll need to send and receive emails, documents, and maybe
even access certain website for your job.
The type of computer is up to you, but it’s best to have a separate computer for work than
for family use. You don’t want les being accidently erased or all you memory cluttered
with games and such.
A Comfortable Chair
If you’re planning to be sitting at your desk in your of ce for hours every day, you need a
comfortable chair. Choose the style and color you want, but look for one with an
ergonomic design.
Here are some things to keep in mind when shopping for a comfortable chair:
Make sure it has lumbar support that molds to the shape of your back
Make sure it is adjustable so you can keep your feet rmly on the oor while sitting
Look for armrests that allow you to relax your shoulders; you don’t want tension
Choose a chair with a 5-wheel base for more stability
Look for designs that have breathable upholstery
These tips should help you nd a comfortable chair, so you don’t have neck and back
pain.
A Paper Shredder
Identity theft happens every day, and you don’t want it to happen to you.
The paper shredder is not only to protect your personal information, but also personal
business information:
Client lists
Bank statements
Other business info you want to keep safe
To be extra cautious, buy a paper shredder that cross cuts the shreds and turns you
document into confetti.
All-In-One Printer
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9. Wealth Creations.
You’ll need a printer that can handle a variety of tasks:
Sending Faxes
Making copies
Making color copies and prints
Having a printer that can handle all these tasks can save you money and space. It also
makes it nice to send and receive a fax quickly instead of waiting on documents in the
mail.
Surge Protector
If you’ve just buy new of ce equipment and you don’t want electrical spikes frying you
new electronics, you need a surge protector.
Not all outlet strips are surge protectors, so you need to make sure you are getting that
protection when buying one. If you’re unsure, ask a sales associate to help you.
These are a few necessities you will need. Of course you’ll nd other gadgets that you
may want or that can come in handy, too. Like label makers, calculator and maybe even a
ling cabinet. But, you have time to get other of ce items as you nd a need for them.
I'm just learning. I don't have all the answers my mentor is having a class tag
along with me.
All in one platform. click to learn more.
What is an LLC?
If you are an entrepreneur, you may be wondering what type of business structure you
should go with. It more or less comes down to what size company you will be starting. If
you are going to have a smaller business and want to go with something that is simple
and not very complex than an LLC might be your best option. LLC stands for Limited
Liability Company.
Main Advantages of LLC
When choosing a business structure, you rst have to think of what you need. There are
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different advantages to LLC, S Corps, and C-Corps. You always need to look at what each
one offers before making your decision. With an LLC, you receive a few different
advantages. Pass-through taxes are one of the main bene ts of LLC. Since you are not a
corporation, you don't have to worry about ling a corporate tax return. You simply add
it to your personal return. Therefore, you don't have to deal with a double tax.
Your credibility will raise. When you have formed, an LLC people will nd you more
credible and trustworthy. If you have an LLC company, it will be easier for you to nd
partners, clients, and lenders. This will help get your company up and moving more
quickly.
The main disadvantages of forming an LLC is it puts a limit on your company's growth
potential. You won't be able to offer stocks to potential investors as well. Some states
also charge you a self-employment tax, even if your company did not make much pro t.
Choosing an LLC
When it comes down to if you really should choose an LLC, you need to consider your
company goals, both long term and short. If you plan on keeping your company small
than an LLC is for you. It may also be for you if you don't plan to expand for quite some
time. However, if you want rapid growth, you may consider going with a different route.
An LLC is not for everyone. However, if you want to get started on one, contact the
Secretary of State in your area.
The school system didn't teach this.
No GED or Diploma required.
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