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How to Finance

There are many creative ways to finance your business. Here are some common and creative ways to finance your business venture. Family and Friends 1. Write a business proposal as if you were going to write one to obtain a loan from a banker. Discuss what the business does, the market demand for the product or service, how you intend to market your product or service, include financial projections: in what time frame do you anticipate the business will be making a profit. Include financial statements and tax returns. 2. State how much money you need, what the money will be used for and the terms of the loan such as the interest rate, how you intend to pay the loan back whether this be in a lump sum or in scheduled payments. You should also state whether the loan is secure, that in the event you are unable to pay the loan the lender will have a percentage of ownership in the business. In making your proposal more attractive to the lender you may consider having a promissory note or ag...
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Starting a Business

Starting a business can be both exciting and stressful to any business owner. Many businesses who do not have the proper funding and appropriate planning frequently fail within their first year. This statement can either frighten a business owner or push them to plan better for the rough times ahead. Often the most successful businesses have good business plans and are prepared for any complications that may arise. One way of preparing is by deciding which type of business entity you will own. There are different types of legal structures or entities available for business owners in Texas. Here is a list and overview of each entity: Sole Proprietorship This type of business entity exists when one individuals owns the business and all the business assets are under the business owners sole ownership. In Texas, a sole proprietor is liable for all debts of the business. The business owner is also liable for any debts incurred by the business, meaning there are no personal debts and there...
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Four Key Pointers For Success

All businesses, of whatever size or stage in its development, need to have formal business plans in place, prepared by the management and not their accountants, and fortunately there are many now many free business plan templates available on the web to help you in business planning. Why Prepare A Business Plan? There are four main reasons why you should prepare a business plan. These are not mutually exclusive, and as the business changes and grows the business plan should be regularly revisited and reviewed since these issues will apply equally well to an established business as to a start up. The first is to plan in the widest sense. In preparing a business plan you are preparing first and foremost a plan and the process is one of thinking through what you are going to do in the business, how you are going to do it, what are the separate projects that will have to be completed to reach the end goal and when by, what resources you will need to have in place and when, what the risk...
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Business Owner

I am in the business of helping people buy and sell businesses. So many future business owners currently work for someone else. Very often the thought process is that one would enjoy their professional career if they "worked for themselves". During my professional business career after college I have been an employee of others for about 5 years and have been a business owner with as few as 1 employee to 25 plus employees for approximately 25 years. I feel I do have some perspective from both sides of the coin. Is it better to be an employee or be a business owner. I think you could talk with business owners and find that there are several that feel being employee has many benefits, and if one talks with employees you can find many that would like to be their own boss. And of course there are the group of those that are happy or satisfied being either an employee or a business owner. But so often we are tugged by the concept that the grass is greener on the other side of the ...
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dcslocalbranch

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Conduct a Digital Business

A digital 'audit' can seem a daunting task but once broken down into stages the process becomes quickly achievable. This first planning step to take involves reviewing the digital health of your business and analysing your business' current situation in terms of: • Your business' ability to handle change • The online market place • Your online and offline market position • The external environment your are operating in This is an opportunity to spot weaknesses in your business profile and marketing power online, so you can then build a marketing strategy based on your strengths as well as any opportunities to sell. discountaushopping discountaushopping discountaushopping discountaushopping discountaushopping discountaushopping discountaushopping discountaushopping discountaushopping discountaushopping discountaushopping discountaushopping discountaushopping discountaushopping discountaushopping discountaushopping discountaushopping discountaushopp...
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matching set

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