Skip to main content
UploadLanguage (EN)Support
BusinessMobileSocial MediaMarketingTechnologyArt & PhotosCareerDesignEducationPresentations & Public SpeakingGovernment & NonprofitHealthcareInternetLawLeadership & ManagementAutomotiveEngineeringSoftwareRecruiting & HRRetailSalesServicesScienceSmall Business & EntrepreneurshipFoodEnvironmentEconomy & FinanceData & AnalyticsInvestor RelationsSportsSpiritualNews & PoliticsTravelSelf ImprovementReal EstateEntertainment & HumorHealth & MedicineDevices & HardwareLifestyle
Whitney Hoffman, profile picture
Uploaded byWhitney Hoffman
KEY, PPTX736 views

Dedo december legal

This document provides an overview of key business and legal topics for those starting an e-commerce business, including: 1) It discusses getting started such as having a business plan, understanding your cash flow needs, and preparing for both success and challenges. 2) It covers common business structures like LLCs and corporations, taxes, copyright, CAN-SPAM laws, and FTC disclosure requirements. 3) Throughout it emphasizes the importance of planning, having sufficient capital, managing risks, and separating personal and business finances.

Business◦Technology◦
Download as KEY, PPTX
Business And Legal Information for E-Commerce An Ounce of Prevention is worth a pound of cure
You’re Passionate
You’ve Got Ideas
I can start my own Business!
Awesome! Let’s Get Started!
We’re covering • Getting Started • Business Models (Corp, LLC, etc.) • Taxes • Copyright • CAN SPAM • The FTC and Disclosure
• “The problem with the Internet startup craze isn’t that too many people are starting companies; it’s that too many people aren’t sticking with it. That’s somewhat understandable, because there are many moments that are filled with despair and agony, when you have to fire people and cancel things and deal with very difficult situations. That’s when you find out who you are and what your values are. • “So when these people sell out, even though they get fabulously rich, they’re gypping themselves out of one of the potentially most rewarding experiences of their unfolding lives. Without it, they may never know their values or how to keep their newfound wealth in perspective.” [Fortune, Jan. 24, 2000]
Most People... • Just start working • Hand-shake deals • No written agreements • No plans to scale • Outsourcing? • Cash flow?
Preparing for the Best and the Worst
SBA Business Facts • 7 out of 10 businesses survive 2 years • 51% last 5 years • Small businesses employ about 1/ 2 the private sector employees • 40% high tech workers • 52% are home-based and 2% are franchises
Reasons for Success • Great Leadership/management • Attract and Attain Quality People • Disciplined Approach • Strategic use of Tech • Use of Trusted relationships (network) • Teamwork and Quality
Reasons for Failure • Lack of Experience • Mixing Personal and Business funds • Insufficient Capital • Poor Credit • Location issues • Competition • Poor Management • Low sales • Lack of a Plan • Unexpected growth
The Plan is a Map for your Business
The Business of Dorian Gray?
Who Wants to feel like this?
Or This?
Can you form a “Guild?”
Ten Things Everyone Forgets • State Business License • City Business License • Insurance - business, health, worker’s comp, etc. • Payment and Work Schedule: what’s due when • Taxes- Fill out the forms • Taxes- Deposits to avoid Surprises
10 Things Cont. • Keep track of expenses, deductables (mileage, parking, business meals, phone, gear, internet fees, hotels, etc.) • Separate Personal and Professional money • Business Correspondence- keep it organized, and easily retrieved • Contracts: Get it in Writing • You will get sick and/or need vacation. Plan accordingly.
How Locked In are You? Fully? Combination lock? Cheap plastic luggage lock?
First Steps: • Need to be a good accountant; separate business from personal. • Separate business account (EIN?) • Track business expenses
“Formal” Business • With an LLC or Inc., you separate personal from business • “Limits of Liability”- business does not bankrupt You • You are the caretaker of the “strawman”- Fiduciary responsibility
What Does Your Org Chart Look Like?
LLC, Incorporate, or... • Is this you alone, or will you have partners? • Will you have employees, or independent contractors? • What is your liability/growth potential?
If you incorporate: • The Company Corporation- fast, efficient and cheap. (works for LLC as well- please let them know I sent you) • Consider incorp in Delaware (favorable laws and tax rules)
Example: consulting • Project work income; freelance assignments • If income exceeds approx $10K per year, or you anticipate it will exceed 10K, you should consider treating it like a business other than “side income”
Consulting • Time needed to generate business; marketing yourself to ensure steady and reliable income stream (Atty model) • Ability to scale and outsource- you can’t do it all, but when can you afford help?
Example- Retail • Selling stuff online- more than a few E- Bay transactions a month • Reliability is a key- reputation management • Scalability- how much business can you take? Supply/Demand • Liability higher on specific deliverables
Decide on a Goal, Then Measure It
What Do You Want? Web Based Goals Goal Metrics Friends, Fans, Attention Followers, Visits Contact Information, New Leads Data New Customers Conversions Downloads for White Leadership in the field papers, ebooks, etc.
Other Legal Issues and Emerging Issues
Taxation
The Tax Man • Keep it all separate means also filing taxes for business, paying quarterly deposits, etc. • It also means shielding your assets if things go belly up. • The Tax Man is cranky if you don’t follow the rules.
The Tax Man
Copyright
The FTC and Disclosure
CAN SPAM
CAN SPAM in a nutshell • Applies to email, not just bulk mail • Applies if primary purpose is commercial advertisement or promotion of a product or service • No exceptions for B to B • Penalties of up to $16,000, so be careful!
• Don’t use false or misleading header information • Don’t use deceptive subject lines • Identify message as an ad (disclosure) • Tell recipients where you’re located • Tell recipients how to opt out of future email from you
• Honor Opt out requests promptly • Monitor what others are doing on your behalf- including any company you hire to do email marketing for you. • Create your own list and database- buying lists may not be worth the penalty
Avoiding Problems with e-mail • Provide value to your customer • Watch the frequency- no one likes a full inbox • Watch open rates, do A/B Testing • Video email like Talk Fusion- The Jury is Out • Understand mobile platforms
e-mail resources • What Counts Blog • Marketing over Coffee podcast • Blue Sky Factory e-books • Build your email marketing list • Ultimate Guide to Email Marketing
Privacy
Recommended • The Knack: How Street Smart Entrepreneurs learn how to handle whatever comes up - Norm Burlingham, Bo Brodsky • Lost & Found - Geneen Roth • SBA Podcasts; Available Free Courses (The tech one is REALLY basic)
Resources • Freelance Calculator www.freelanceswitch.com/rates/ • Fun Project Quote Calculator http:// devgrow.com/freelance-project-quote-estimator/ • Freelance Writing http://allfreelancewriting.com/ freelance-writing-rate-calculator/ • Wage Calculator http://us.thesalarycalculator.co.uk/ hourly.php
Questions? Whitney Hoffman ldpodcast@gmail.com twitter:@ldpodcast, @whitneyhoffman skype: Whitney.Hoffman
Contact Info: Whitney Hoffman Hoffmandigitalmedia@gmail.com Twitter: @whitneyhoffman, @ldpodcast Facebook: Whitney Hoffman Google Voice: (302) 482-4599 Mobile: (302) 562-6507 URL: www.whitneyhoffman.com
The End
“In the long history of humankind those who learned to collaborate and improvise most effectively have prevailed.” ~ Charles Darwin
“If you make customers unhappy in the physical world, they might each tell 6 friends. If you make customers unhappy on the Internet, they can each tell 6,000 friends.” -Jeff Bezos, CEO of Amazon.com
Income /2080 = Hourly Rate
$40,000/ yr = $19.23/hr
Do The Math Cost Per Lead* = (Total Ad Costs) / (# Leads Generated) Total Ad Costs = Direct Ad Costs + Indirect Ad Costs Direct Ad Costs = All Ad Fees + Design Costs + Tracking Costs + Agency Fees Indirect Ad Costs = Administrative Overhead = ($/hr) x (# hrs) Marketing ROI = (Revenue – Marketing Cost) / Marketing Cost
Consider Cost of a lost customer in terms of lost revenue and- Loss of additional customers due to word of mouth Cost of Retention- what do you have to do to keep existing customers happy? Churn rate- how many customers leave? And what does it cost to replace them?
Lifetime Value of a Customer Formula includes: Average number of years a customer does business with you Average revenue per customer per year Estimated costs to deliver products/services
“Social media changes the relationship between companies and customers from master and servant, to peer to peer.”
What’s Your Time Worth?
An Ounce of Prevention... • Most small businesses fail because they were undercapitalized (keep the day job) • Be clear up front when mixing friends/family and $$$ • Put it in writing (freedom of Contract)
Summary • Write a Plan • Use Freelance Calculators; know your “Burn rate” • Understand Money • READ
Dedo december legal
Dedo december legal