PAYSTUBMAKR.COM presenting the sixth part of the guide for successful startup
Your business license
There are different licenses and permits for different kind of businesses; you will need the correct one to operate legally. To make it easy for you to find witch permit or license you will need for your business go to SBA.gov website and pick the right one for your business field of operation and the state that you are going to operate your business.
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Small Business Taxation
Taxation is an important issue, failing to pay taxes may have a disastrous effect on you personally and your business too. Paying more taxes then you should, will be losing good money that you worked hard for it. You need to pay taxes according to the kind of entity structure you created. Partnerships will file with an information return. All other business structures have to file an annual income tax return.
Employer Identification Number (EIN) must be issued using the IRS website here.
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What tax you will have to pay as an employer:
Self-Employment Tax
Business owners that are employed by their own business, or self-employed people are required to file Schedule SE (Form 1040) Self-Employment Tax (Social Security and Medicare Taxes)
Employment Taxation
The employment taxes are Social Security, Medicare taxes, federal income tax withholding, and federal unemployment (FUTA) tax. Business Taxes IRS
As an employer, your responsibility is paying tax and withholding taxes on behalf of your employees. There are forms that you need to file to the IRS. Employer and Employee Responsibilities – Employment Tax Enforcement
Excise Taxation Excise tax in the United States, by Wikipedia
Fuel, Tobacco, and alcohol are the most common product to have an excise tax. Check about your obligation about this special tax.
Some tips for your marketing, sales, and services
How to gain customers and make them happy
You got it all set up; now you have to make business for real, acquiring clients, customers or users and have them repeatedly visiting and buying your products or services.
Take care of your clients so they will take care of your cash flow
These days the Internet became our marketplace, you could sell online or not, but you should not ignore the power of Internet marketing and online advertising. You-tube and other social networks will do great for your advertising while one of the online stores’ services like Shopify will let you open and manage an online store for you. If you are big enough, you may need an e-commerce people to build your store. You will need enough funds to cross the first stages and get your sales that high that it will be an investing venture for investors or lenders to put money into your growing business.
Creating enough customers and a good flow of dollar to be an attractive investment takes genuine wit and hard work and time.
Maintain the flow and keep your client coming, again and again, depends a lot on your customer service. Client considers the way you treat them when there is a problem before going to the competition. Read The ten guidelines for a successful customer service
WiFi is an example of a brand that became a term in the World of Internet
Marketing your small new business
A new business needs to make itself know in the market even before it starts the sales and delivery.
The days that we went to a marketplace and started shouting “Cheese for sale” are a long time gone but it is only the way we do it that was changed. We can use the News Papers, the TV, and the last and bigger one, The Internet with its so many way applications that creates the magic of passing the word about your offer to the public. Undoubtedly you will be asking yourself where on earth I should start?
No miracles only hard professional work
Narrow down your target customer
The first thing to do is answer the question, who is your potential client? Who needs my products or services, who like to have it even if he does not need it. By asking who we mean what kind of people are the potential clients? Where they live? What are they read? What are they studying and so many things that are characteristic to your target clients? By signalizing the personality and background of the group of people, you found to be potential clients you should find how to reach their attention and make them listen to your messages.
The list of topics to look for may include the flowing, backgrounds, interests, goals, and challenges, add to the above the age and how they spend their free time. What social network do they use more? Using the information mention above you should create the PERSONA of your expected clients. Know Your Customers: How to Build Buyer Personas for Your Retail Store
By having a clear buyers persona, you will save your efforts to the more probable people to become your clients.
Intelligent use of the personas is had the personas in-front of your eye before making any business decision. Using the persona will save you from trying to sell fridges to the Inuits in Canada or room heaters to the people in the jungles.
Your brand identities are your values and your way to communicate your concepts and the emotions your clients will have when they interact with your business (especially with your product and customer service).
By having a consistent brand identity that promotes your business, you will make yourself and your business look professional and more attractive to investors.
Branding is essential for your business
Build your online presence
With your knowledge about your target customer and you well-created brand identity, you can take one essential step ahead. Start building your small business main marketing elements, starting with a website with a blog and your email marketing application, a conversion tool or an online store. Do not forget the social media to rich more people with your accounts. 10 Free Online Marketing Tools Every Small Business Owner Needs MOZ
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Do not “go to sleep” waiting for the internet to make money for you while you are sleeping. Creating a presence on the Internet and maintenance, its growth can be done by working hard with writing blogs with good content and making good videos on you-tube. Your SEO service people should keep you updated on keywords and other important SEO issues.