People like creativity simply because it is fun. We reconnect with the pure pleasure of getting something that did not exist before. When we create we forget our problems, we are just being, the child comes out, we connect with ourselves and it simply feels good. Our energy pours from the inside to the outside and leaves our imprint, the object of our creation becomes an extended part of ourselves. Creativity also lives in a time and purpose vacuum. The worst enemy of creativity is a good idea.

People like innovation because it implies progress. When we innovate, we have a structure. Innovation becomes change. To change we need the reference, the constraints, the structure, the present, what is there. When we do things differently, we are also creating, but we create with a purpose, fun stops until we reach our goal. Thus, innovation has less power as a self-expression than creativity.

Then we come to the field of entrepreneurship, one of my favorite topics. Entrepreneurship is more about creating wealth than it is about creating a company. It is closely linked to creativity, entrepreneurs MUST have something NEW to offer. It is related to innovation, entrepreneurs MUST find new ways of getting in the market, making something new, doing things differently.

When we check most new businesses, they are me-too’s, and most so-called entrepreneurs are people who have bought themselves a job. They don’t create, innovate or add wealth. They shift what exists to a different person.

Entrepreneurship then is the process of exploring how to add value to others in a new or different way. Entrepreneurs capture that value in the form of wealth, and then that wealth with others: clients, users, employees, suppliers, community, governments, etc. To understand that being creative and being innovative is not enough and to be aware that there is a maximized value waiting to be discovered or created, is what entrepreneurs do best when they plan, then they take action, and finally, they evolve.

It is not a matter of luck as most people link entrepreneurship with creativity and innovation. If you don’t have anything, you create. If you have an unwanted present, you innovate. If you want to create wealth, you give that creation or innovation, the best chance. You don’t need money to create wealth, you need creativity and innovation.

It is by thinking and taking action, by consciously discovering where the creations or innovations have the highest perceived value that entrepreneurs build their wealth… and by doing so, create prosperity beyond themselves. It is not about becoming rich but building wealth.

Without the notion of creating wealth, creativity and innovation can’t find a place in the market. To be able to distinguish where the highest value is, who is the ideal customer or client is to bring prosperity to our communities, and to act upon that thought, is what entrepreneurs thrive at.

There are many tools and methods that capture how entrepreneurs create wealth. It is not an art, or a science. It is the conscious effort of making the best of a product or a service, to find those who value it best, and capture that value, what lies inside the entrepreneur.

Creating wealth escapes the obvious, and creates new valued propositions. Sometimes we use innovation to improve what is there, but most likely, the best results come from a free, playful, fun exercise of creating wealth. Whatever you do to create wealth will improve your skills and build up that wealthing muscle. Even if you compose a song in tribute to your wealth when you are showering!

Here is to your wealth and joy,

Alicia Castillo Holley is an international expert on entrepreneurship and innovation. She has started 9 companies and one not-for-profit, raised millions of dollars and trained thousands of people. She’s a recognized author, speaker and seminar leader.
http://www.wealthing.com

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Middle and high school Black students, especially those who find themselves struggling academically, too often complain that school seems irrelevant to both their present and future lives. The lack of understanding these students have about the workings of the market–and their place in it–systematically denies them opportunities for pursuing their dreams. Consequently, without dreams to pursue, many Black youth have little reason to invest in education and their own development.

Previous research has revealed that Black youth have the highest entrepreneurial expectations amongst Asian, Hispanic and White youth. However, research also shows that Black youth do not have access to enough entrepreneurial programs to convert their desire into achievement. Thus, there is need to create more entrepreneurial programs for Black youth with relevant vision, goals and objectives.

A 1999 study by the Office of Advocacy in the U.S. Small Business Administration estimates that between 1987 and 1997, the number of minority-owned businesses more than doubled. The revenues and number of employees nearly quadrupled.

Much of this growth, however, came from recently arrived Asian and Hispanic immigrants. Moreover, Asians produced more than half of the half billion dollars in revenue minority businesses generated in 1997.

To help counter this trend, youth entrepreneurial programs have sprung up that train youth in Black communities. Here are some examples:

* The National Foundation for Teaching Entrepreneurship (NFTE) teaches the fundamentals of business to more than 4,000 low-income kids a year. Its business model is typical of all the youth entrepreneurial programs.

* The NAACP recently launched its $1 million Reginald F. Lewis Youth Entrepreneurial Institute, which helps young entrepreneurs write and implement business plans.
* Under the slogan, “It’s dough money, not dope money,” Champs Cookies Youth Entrepreneurship Society trains 60 African-American children a year how to manufacture and market their edible products in the nation’s capital.
On the surface, these programs seem highly beneficial, but after a closer look, questions arise about the lessons being taught.

WHAT PRODUCTS AND SERVICES ARE CONSIDERED?

Are Black youth taught to produce items genuinely needed by the community, or Pet Rocks and Saturday Night Specials? The business product used by NFTE throughout its materials is T-shirt silk-screening. The only important product consideration, according to NFTE, is that the product “must satisfy a need of the consumer,” not the many needs of the community.

WHAT EMPLOYEE POLICY IS TAUGHT?

When you learn how to be an effective entrepreneur, you also learn the importance of paying livable wages and giving health-care coverage to your employees. The NFTE training program has a section on “ethical business behavior,” but the focus is on ensuring that customers feel you are punctual, reliable, courteous, and well dressed, and that employees do not feel “used” – no mention is made of the role of wages or benefits.

WHO OWNS THE EQUIPMENT AND MATERIALS?

Is the ownership local, or is it a branch of Starkest Inc. with little commitment to the community? The NFTE entrepreneurship materials teach that: “Businesses come in three basic legal structures: The sole proprietorship, the partnership, and the corporations.” However, the most popular business ownership structures in the community – cooperatives, municipally owned, and community stock-held companies – are not even mentioned.

Too many youth entrepreneurship programs measure success by the number of local companies that become publicly owned, stock trading companies and the number of entrepreneurs transformed into millionaires.

This is not good because when a company goes public the ownership link to a community is usually broken. A dozen thousandaires who keep ownership of their businesses local are far more important to the community’s well being than one millionaire.

Unless an enterprise is anchored to the community through dispersed ownership, its owners are likely – once successful – to move to the suburbs (or, if they are successful, locate offshore in Mexico, India, etc). When that happens, of course, the economic multiplier and tax payments no longer benefit the community.

On the other hand, businesses owned by community residents, can become long-term assets for local development. Unlike their global competitors with no ties to place, who tend to flee when labor and environmental standards rise.

One of the few National Football League teams that has not tried to extort a new stadium or other bribes from the community by threatening to move if its demands were not met is the Green Bay Packers – a community-owned nonprofit.

TIME FOR A NEW MODEL

With the widespread, poverty, homelessness, unemployment, underemployment, unhealthiness and criminality in the Black community, a new model of entrepreneurship needs to emerge. If we seriously want to improve our situation, we must strengthen our collective economic position.

This means working cooperatively. It also means the motive of men becomes increasing the quality of community instead of increasing profit in their pockets. Increased profit will come later from the more efficient production of literate, healthy and happier Black people in the community.

The new model is important for several reasons:
First, it comes from the united efforts of Streets University, Ikoja, Weed and Seed, local Black entrepreneurs, community-focused activists, and philanthropists.

Second, it addresses the What, How, and Who (quality of community attributes). The new model teaches Black youth that fulfilling unmet local needs is, by definition, going to be better for the community than exporting yo-yos. This new model uses the follows the powerful tactics and strategies laid out by a website like http://www.inside-secrets-for-black-business-development.com
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One such program is Urban SEED (Sustainable Economic and Environmental Development), based in Alameda, California, which encourages its trainees to focus on micro enterprises that grow organic food and generate renewable energy.

Another is the Detroit Farmers Cooperative, which operates seven community gardens and five neighborhood-based markets, all run by seven young African Americans, 14 to 16 years old. In addition, the Hope Takes Root program in Detroit employs homeless men to grow food for local meals programs for the poor.

Third, a community that moves toward self-reliance is often rewarded with a higher economic multiplier. Economists sometimes say that a community should be indifferent about whether a new business produces $100,000 worth of apples for export or $100,000 worth of apples for local consumption, since each injects $100,000 of productive activity into the local economy.

However, there is a difference. In both cases, the business realizes $100,000 of sales and re-spends it in the local economy. However, in the latter case, consumers also spend $100,000 locally that they otherwise would have had to spend outside the community to import apples.
Every time a community chooses to import an item it could just as easily make for itself, it is giving away another piece of its multiplier.

Finally, a self-reliant community enjoys greater tax receipts. Again, the business taxes from the $100,000 exporter and the $100,000 import-replacer are identical.

To satisfy the need for a new model of community-focused entrepreneurial education for Black youth, Rightbrain Initiative, Ikoja, and Weed and Seed launched Streets University.
Streets University is a youth entrepreneurial education program taught by experienced facilitators with both academic and industry experience. It consist of six weekly 4-hour classes, designed to transfer basic business know-how , as well as, teach Black youth about products genuinely needed by the Black community, treating employees properly and bringing economic control to the community. The series includes a business-learning workbook that gives practical, hands-on, how-to instructions and email address for each student. A typical class consists of the business lesson, cultural impact, and workshop and group breakout sessions.

This article has discussed the need for and lessons learned from youth entrepreneurship education for Black youth.

In conclusion, a new model of youth entrepreneurship education, Streets University, has been developed. It comes from the collaborative efforts of Rightbrain Initiative, Ikoja, Weed and Seed, Black entrepreneurs, community-focused activists, and philanthropists. The new model addresses the need for more entrepreneurial education for Black youth, the What, How and Who quality of community attributes and moves toward self -reliance.
Please help build a better tomorrow for our children and community by supporting Streets University with your encouragement, sponsorships, and resources.

Known for his keen insight and organizational skills, Lawrence Spearman has been a practicing problem solver in the Dallas/Fort Worth metroplex for over 10 years. An honored graduate of North Carolina A&T State University in Greensboro, North Carolina, where he received a bachelor of mechanical engineering degree, Lawrence has received numerous awards for his work in corporate and personal business.

In 1991 his work at LTV Aircraft Product Group was singled out for the book, “Practical Applications in Artificial Intelligence”, by Patricia Lindsey, In 1993 his clothing company, Fresh Active wear, was honored by Imprint magazine as being the best new screen print business in the state of Texas. Today as facilitator of Spearman Group, a team of Black business coaches, his work has earned him a loyal following among clients.

Engaged in a diversity of business disciplines, from marketing, to copy writing, to business planning, to database development, to contract identification and authoring, to financial analysis …. Lawrence’s nu

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Entrepreneurs are the people who start or organize commercial institutes, particularly those involving any kind of financial risk. You ask anybody today and he will get ready to become an entrepreneur. If we observe the economic activities going on all over the world, it seems that everybody has already become an entrepreneur. Entrepreneurship is not the privilege of the Chief Executive Officers of mega corporations only. A person playing three-card games at Times Square is also an entrepreneur. Entrepreneurship is a quality that is applicable in politicians, cab drivers, college presidents, and bookies.

Like in any other field for successful entrepreneurship, in the real estate business you need to understand the importance of location, location, and location. You cannot take it for granted when you buy any property for your business or sign any lease. Entrepreneurship in real estate business requires careful selection of the broker no matter whether you are buying the property or selling it. You also have to learn how to understand the present scenario of the real estate market and the current valuations of the properties. In addition, you should also need to master the art of strategic planning for both selling and buying the properties.

Keep Yourself Informed

No entrepreneur in the field of real estate ever knows too much about the market. They have to make constant efforts to gather information regarding the latest trends in the industry. They have to keep on thinking about the factors that can affect their investments, their clients, and their overall businesses. Some of the important factors are changes in the tax laws, development of new highway routes, changes in technology, and zoning.

Natural Instinct Required

To get success in the real estate business, you must possess a natural entrepreneurial instinct. Moreover, you also need to be process-oriented. You should have the capability of looking far into the future and identifying the good business opportunities. If you are successful in entrepreneurship in the real estate business, you can get success in any kind of venture. In addition to having a basic knowledge of this business, economy and other global factors, you must be comfortable using computers. Knowing the use of spreadsheets, word processors, databases, graphical analysis, and the geographic system of information is very useful for entrepreneurship in real estate business.

NO Quick Bucks

Finally, if you plan to start entrepreneurship in the real estate business, understand clearly that you are not going to get any quick buck, as it looks from outside. Like any other business, the real estate business also takes time before you cultivate the customers and start enjoying the inflow of money. However, the time, efforts and the attention given to the business never go in vain and sooner or later, you are going to get the positive results.

Alexander Gordon is a writer for http://www.smallbusinessconsulting.com – The Small Business Consulting Community. Sign-up for the free success steps newsletter and get our booklet valued at $24.95 for free as a special bonus. The newsletter provides daily strategies on starting and significantly growing a business.

Business Owners all across the country are joining “The Community of Small Business Owners” to receive and provide strategies, insight, tips, support and more on starting, managing, growing, and selling their businesses. As a member, you will have access to true Millionaire Business Owners who will provide strategies and tips from their real-life experiences.

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Social entrepreneurship initiatives are ventures that can serve as a method of increasing the social value of a community, organization or cause while enhancing the financial viability of a not-for-profit organization. With this being stated, social entrepreneurship has been defined in different ways by many different theorists. Gary McPherson, Executive Administrator of the Canada Centre for Social Entrepreneurship, states that social entrepreneurship involves various individuals working toward meeting social and economic goals simultaneously; while Bill Drayton, CEO of Ashoka, defines social entrepreneurship as a term coined to describe “individuals who combine the pragmatic and results oriented methods of a business entrepreneur with the goals of social reform.”

A more basic definition of social entrepreneurship states that it is “the process of using entrepreneurial and business skills to create innovative approaches to social problems.” Therefore, it is a methodology that is presently being used to resolve community and societal concerns globally. Social entrepreneurship as an area of specialized entrepreneurship is not defined by the same titling in every culture. For example, in Latin America countries social entrepreneurship initiatives are referred to as “Micro Enterprise.” In India the same program would be identified as a “Social Mission.” Though termed differently in various regions, social entrepreneurship initiatives are being implemented to solve specific societal and community concerns by focusing on the needs and resource availability within specific geographic regions.

Social Entrepreneurship in Education Throughout the United States, many top tertiary level academic institutions are enhancing their business programs by including a curriculum that caters to the study of social entrepreneurship. In 2003, the Center for Responsible Business was launched on the University of California Berkley Campus. This subsidiary of the Haas School of Business was implemented with the intent of training students to be more principled and socially responsible members of society through attending “the preeminent educational institution in area of Corporate Social Responsibility.” Stanford University also has established a Center for Social Innovation as a part of its graduate school of business. This center was founded with the mission to “build and strengthen the capacity of individuals and organizations to develop innovative solutions to social problems for a more just, sustainable and healthy world.”

In 1993, Harvard Business School started its social enterprise program with its mission of “generating and sharing knowledge to help individuals and organizations to create social value in the not-for-profit, private and public sectors,” and the University of Miami has refocused its business school curriculum to include coursework in the areas of ethical-decision making, social entrepreneurship and community engagement with the primary focus being to expose students to various areas of civic engagement while concurrently teaching them leadership and team building skills.

Tertiary level institutions, including Duke, which has established a Center for the Advancement of Social Entrepreneurship as part of its Fuqua School of Business, and Columbia University where the research initiative on social entrepreneurship is embedded in its school of business, have also made strides to enhance the study and education of those seeking to venture into areas of social entrepreneurship and social venture implementation. The Association to Advance Collegiate Schools of Business-International (AACSB – International) has identified over twenty-four tertiary level institutions that have included social entrepreneurship as a part of their business college and or business curriculums.

With social entrepreneurship being perceived by many as a new way of stimulating social change, Idee Winfield believes that the implementation of community-focused service learning projects is the first step in exposing youth to the various attributes associated with social entrepreneurship. Through community involvement, youth will begin to visualize and experience the various social issues within their community and envision ways to solve these problems. Winfield states that social entrepreneurship should be promoted in primary and secondary education, and coursework should be adjusted to allow students to “see how abstract socially focused concepts can have real world applicability.” Jeffrey Soderborg, a member of the Kauffman Center for Entrepreneurial Leadership Clearinghouse on Entrepreneurship Education, is also an ardent proponent of social venture education who believes that social entrepreneurship would be more readily accepted if youth were exposed to information expounding the laurels of these initiatives during their primary and secondary academic years.

As youth expand their horizons through the establishment of entrepreneurial efforts, knowledge and exposure to information about the process involved in the establishment of entrepreneurial business effectively plays a major role in the rate at which business entities are established. A study focusing on entrepreneurial interests among black youth ages 14 to 19 identified that 75% of the youth surveyed had interest in becoming entrepreneur. The study also found that these minority youth believed that more information about entrepreneurship should be presented through their schools. They also believed that entrepreneurs have a responsibility to reinvest in their community.

Corporate Social Responsibility

Personal values often serve as the justification for entrepreneurs to focus organizational efforts on socially focused ventures. The organizational decision to forgo pursuing financial gain with the intent of using the corporations’ profit resources to enhance a community is often referred to corporate social entrepreneurship. Corporate Social Entrepreneur (CSE) is a term used to describe corporate initiatives whose primary focus is to enhance a social concern and whose secondary focus is financial gain. The corporate social entrepreneur differs from the financial profit seeking entrepreneur in the area of decisions made that affect the community and environment in which their organization functions. Research identified that in corporate social entrepreneurship business acumen serves as a factor in the success or failure of social venture initiative implementation. Research identifies that success factors associated with the implementation of social responsibility initiatives were linked to whether the entrepreneur exhibits behavior that is moral, amoral or immoral.

The amoral entrepreneur would pursue initiatives only if they were deemed acceptable by the organization as a whole. The immoral entrepreneur implements initiatives based on what can be potentially gained for self as well as for the stakeholders, while the moral entrepreneur would pursue social responsibility initiatives based on what was in the best interest of the organization. Individuals identified as corporate social entrepreneurs are individuals who are more active in community activities and are actively involved in social responsibility efforts. Corporate social entrepreneurs also are more likely to implement social responsibility initiatives based on an organization’s long term objectives.

While many corporations are looking for ways to increase their social responsibility efforts, in some regions corporate responsibility efforts are not progressing. A policy paper, “Corporate Social Responsibility in Latin America and the Caribbean,” documented that corporate social responsibility activity in this region has “stalled.” The reason for stagnation in this region is “minimal government involvement” and the lack of “private sector involvement.” It was also identified that initiatives to implement programs focusing on social responsibility are often initiated outside of the market, and then subsequently not embraced by stakeholders who reside within this geographic region.

Corporations are continually looking for ways to increase corporate advantage through their social responsibility efforts. While proponents of corporate social responsibility believe that corporations are obligated morally to engage in efforts to enhance social, community and environmental concerns, many stakeholders believe that social involvement should only be initiated if the efforts are going to strengthen the organization’s image, brand, moral or stock value. With this in mind, corporations have separated social issues into specific categories.

These categories are social concerns that are general, social concerns that are value chain based and concerns that focus on social dimensions of competitive contrast. Generic social issues are identified as social concerns that do not directly affect the company’s operation and do not have an effect on a company’s competitive advantage. Corporations are least likely to get involved or invest in projects that focus in these areas because they will not receive a high value of return on their involvement. Value Chain Social Impact issues can significantly affect a company’s operation and can have an impact on the way a company conducts business. Corporations are more likely to be involved in value chain concerns, but only after conducting due diligence studies to ensure that a return on investment will be achieved over time.

Social issues that affect a company’s financial profitability or serve to enhance or increase a company’s competitive edge are likely to be areas that a company will invest in because of the direct impact that these initiatives will have on the company’s overall viability and stability. An example of a social dimension projects is General Electric’s investment in under-performing high schools throughout the country. General Electric believes that through investing financial and professional resources in under-performing high schools in areas where they have substantial financial investment, they are investing in enhancing a community, as well as directly increasing their future employment prospects.

Whole Foods Market is an organization that has taken control of its social value position through purchasing products from local farmers. Also, Whole Foods maintains strict controls over all of the products produced and sold in all of its locations. They even have extended their social and ecological efforts through offsetting the use of in-store electricity with the installation of wind conversion generators, converting their trucks to operate on bio-fuel and trucking spoiled produce to regionally located compost sites. Though the investments in these technologies may be costly at the onset, the long term financial, civic and market exposure benefits far exceed any initial costs incurred.

In the area of corporate philanthropy many corporations are at a loss. They continue to be involved in the conflict between philanthropic giving and investor requests for increased profits. For this reason many corporations engage in context-giving programs. Context-giving programs are programs that are defined as allotting resources to specific projects that will enhance the community while simultaneously enhancing the corporation.

Examples of context-giving initiatives include the Cisco System Networking Academy, which trains computer network administrators and provides job opportunities to those who complete the program; the DreamWorks SKG film production program that trains low-income individuals in occupations that are needed in the film and entertainment industry; and American Express Travel and Tourism Academy which trains high school youth for careers in the hospitality and tourism industry. Corporations that invest in corporate-giving social venture programs are concurrently gaining positive return on their social investment, improving the economic climate of the communities where they are located and gaining positive exposure for their organizations.

At times social ventures do not have the intended impact on the community. A study focusing on the impact of community focused business ventures found that businesses started with the intent of enhancing a community often lose focus by becoming focused on profitability and competition. Competition and self-focused motivators were identified to be factors that played an additional role in the impact and economic role that entrepreneurial ventures have in community settings.

While many foundations, trusts and philanthropic organizations, accumulate and distribute resources with the intent of providing services to enhance specific community or social causes, many of these organizations are looking for ways to gain public exposure for their efforts. Organizations also attempt to leverage their gifting efforts through seeking not-for-profit organizations that are willing match the funding received. The success of funded programs is evaluated through performance outcomes and indicators, and through promoting the organization’s work through success stories provided by program clients. These methods are viable ways for funding agencies to acquire value and exposure through their philanthropic efforts and simultaneously continue their efforts to enhance the communities in which they invest.

With the social philanthropic efforts of Warren Buffet and Bill Gates gaining a high degree of attention, and many leaders engaging in activities to promote social advocacy, corporations are seeking ways to also gain exposure with social entrepreneurship. Social entrepreneurship from the corporate perspective can be defined as corporate social initiatives used by a corporate entity as vehicle to show support for social causes. In recent years, many Fortune 500 companies have implemented social ventures with the intent of enhancing their corporate image through providing funding for various social causes.

McDonald’s is one such company that has funded social causes for many years. McDonald’s primary social venture is the Ronald McDonald House Charities. The Ronald McDonald House provides lodging for the families of adolescents, ranging in age from birth to 18, who are receiving critical care for illness in communities that are away from their community of residence. The Ronald McDonald House allows families to reside in these temporary living facilities throughout the child’s period of treatment at no charge.

The Federal Express Corporation also funds programs focused on the implementation of socially responsible programs. FedEx is a supporter of St. Jude’s Children’s Hospital and has been acknowledged by Reader’s Digest as one of “Americas Best Charity Minded Corporation.” Federal Express has also been recognized for providing funding for numerous community and civic organizations, including March of Dimes, Heart to Heart organization, an organization that focuses on delivering food and health resources globally, the United Way and the National Civil Rights Museum. These are just a few of the charitable initiatives that allow Federal Express to present itself as a socially conscious organization.

Virgin Mobile has partnered with Youth Noise, a not-for-profit organization that brings youth together for networking and brainstorming opportunities, and Stand Up for Kids, the largest all volunteer not-for-profit organizations in the United States, to implement an initiative to expand its corporate social responsibility activities. The project involves recording artists donating ring tones to Virgin Mobile and through partnership agreements, 5% of the proceeds received through ring tone sales are donated to various “Virgin Mobile Charity Partners.” This initiative, established in June 2006, is being positioned to raise over $250,000 annually.

For social ventures to gain global acceptance, corporations need to become involved in ventures that allow employees and consumers to see the social, community and external benefit of these ventures. This process is identified in countries south of the United States, where the concept of social responsibility is one that has been embraced by many but implemented by few. Many government organizations expect non-government, or private organizations to take responsibility for ensuring the stability and longevity of the resources throughout this region while the private sector is looking toward government agencies for intervention.

Paul Van Putten, is an educator, entrepreneur and business consultant in the areas of social entrepreneurship, entrepreneurial start-up, marketing, media management and leadership engagement. Dr. Van Putten has seamlessly transitioned between both academic and corporate environments having served as a College President and Corporate CEO. He has also served as a consultant with national and international organizations. http://www.nationaletc.com

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The Small Business Administration has offices in most parts of the country. Although getting face-to-face assistance has become a bit more difficult in recent years due to budget cuts ordered by the Bush administration, the Small Business Administration also has a website packed with helpful information, forms, tutorials and online courses. Small business owners can count on the Small Business Administration for accurate information on laws affecting small businesses, tax and social security information and small business statistics.

The Small Business Administration’s sister organization, the Service Corps of Retired Executives provides mentoring and in-person courses for small business owners. The Service Corps of Retired Executives was created by a group of retired executives from large corporations who wanted to continue using their business skills after retirement to mentor small business owners.

Local Chambers of Commerce are another excellent resource. Chambers of Commerce typically serve two functions: Promoting the business climate of the area to outside investors and serving as a networking hub for existing businesses. However, due to the rise in entrepreneurship, many Chambers of Commerce are beginning to offer seminars to start up business owners including marketing, bookkeeping and other topics. They may also offer special networking events geared toward new businesses just getting started.

Once you get your business started, there is no better resource for networking than your local Chamber of Commerce. The annual fee is typically modest and covers your attendance at more functions than you could possibly find the time to attend. For example, the Chamber of Commerce in West Palm Beach, Florida offers networking breakfasts, lunches, cocktail hours and dinners. They also offer special networking events targeted at certain business sectors, sponsorship of corporate events and a member directory with advertisements from their membership.

About The Author

Jonathon Hardcastle writes articles on many topics including Business, Real Estate, and Employment

It is every American’s dream. To own and operate their own business, to be their own boss, to be in charge of their life! Every new business is started by someone who gets an ‘entrepreneurial seizure’. That is, they believe they have an idea for a service or product that is better than, faster than and of better quality than what some others can do. In a fury, they quit a job and start their own business haphazardly and end up getting in a jam because they didn’t follow the natural order of beginning their own business. This article will explore what those steps are, and how, if they are done correctly will greatly benefit the one taking them.

•I. Check your State’s Business Website for possible conflicts in naming your business.

When you choose a name for your business it should be unique, and yet say something about what you do. Some have chosen the route of using humor to get their point across. “The System’s Down” for a computer repair business, “He’s Not Here” for a bar infamous for refusing to tell wives where their husbands’ are. What you don’t want to do is give your business the same or almost the same name as another company. Check the local sites and make sure you can legally use the name you choose.

•II. Get your EIN number.

It’s as easy as logging on to the IRS.gov website and filling out the online form to receive your EIN instantly, don’t check the box to wait for it to come in the mail, you want to get started ASAP, so make sure you get the number and print the page it appears on. You will need that number before you finish any of the next steps.

•III. Incorporate your business. (What forms you will need.)

In order to incorporate correctly, a lot of people have used online help. It’s not cheap, but it is far cheaper than the possibility of making a mistake and having to dissolve a new corporation and begin again. Unless you have done this before, you can leave it to the experts and skip a few of the next steps entirely. The next question is what kind of incorporation do you need? You have two choices for an incorporated business. There is the S-Corp, by far, the most popular option because of the taxation advantages. And then there is the C-Corp, which does have its own advantages which the double taxation drawback can sometimes more than makes up for. The other option is not incorporating at all and sticking with either a sole proprietorship or partnership. Both are easier to deal with at year end and cheaper to get taxes prepared but can leave the business owner open to getting personal property taken if there were a bankruptcy or lawsuit. In my humble opinion, the form of business with the most headaches is a partnership and the best form is the S-Corp. But that’s just my opinion.

•IV. Create your Article’s of Incorporation.

The cheap way to do this is to cut and paste another corporations’ Article’s of Incorporation and replace their name with yours. You can do this legally, but as I am not a lawyer, I would take the safe road mentioned previously and get an expert to do it for me.

•V. Create your company’s Charter.

Let’s face it; before I started my own business, I wasn’t sure what someone would be looking for in a Charter. It basically spells out the days for board meetings and who will succeed who should there ever be a vacancy. Again, I would prefer to put something like this in the hands of someone who does it regularly as they will know who to ask what and put it together for you professionally. A lot of online services have popped up; make sure you deal with a reliable one if you go that route.

•VI. Open your business bank account.

his is the step that most people START with. Then they learn that the business name they chose is taken, or that now they are incorporated, they need a different kind of bank account. The most important thing to remember with the business bank account is that it is supposed to forever be separate from your personal accounts. This is to protect the corporate veil, i.e. that layer of protection afforded to you in a potential lawsuit.

•VII. Register with the state to pay for unemployment taxes, sales taxes, etc.

Each state will have its own site to pay taxes online, in Florida; before you register you are given a brief quiz about the kind of collecting you will do in your business. Are there vending machines involved or fuel subsidies? Etc. Most businesses will only have to worry about the SUTA or State Unemployment Tax. Paying online is important as the states are usually stricter than the federal in collections. Fines and penalties are what build a lot of bridges in this state.

•VIII. Register with EFTPS to pay payroll taxes online.

Every pay day you have, you must set aside half of your employees’ payroll taxes out of your account and half deducted from your employee’s pay, along with the Federal Withholding. Using the online payment option at the EFTPS site means you won’t have to be sending checks that could get lost or late. Register now even if you don’t have employees yet and get your internet passwords written down.

•IX. Build your company’s website.

These days a company without a website is not a company. Simply put, if you cannot point potential customers to a site featuring your work and some information about your business, those potential customers will go elsewhere. The internet today is what the Yellow Pages were 20 years ago. Often, if you get email, your internet provider will give you internet space for free. For example, EarthLink will give you a certain amount of space for free, and using the Trellis builder allows you to build, change, and update your site easily. Go to a hosting site, such as Go Daddy and pay for a redirect to your email free site. (Don’t pay for the hosting, just the redirect!)

•X. READ articles on promoting your site through QuickBooks, Google, and Yahoo search engines.

I don’t know about you but my Yellow pages books are under my old couch, holding it up where the legs are uneven. When people are looking for services today, they use Google, Yahoo, or Craigslist. A lot of advertising can be done through your QuickBooks software by clicking on the Google Marketing Tools icon. Read all you can about successful people using these sites. It is not necessary to pay for a pay per click campaign when you use some FREE common sense steps to market your business to your clientele.

•XI. Start your marketing campaign. (Business cards, postcards, etc)

If you are struggling to put together the green after paying to incorporate, etc you may not exactly have the ability to market your business with essentials. (Business Cards, Post Cards, Brochures, etc.) All of these can be found for reasonable prices online, I use Vistaprint as the specials they have with 250 free cards, 500 free postcards, etc have filled out my marketing ammo for nothing but shipping. I prefer not to use the Office big box stores as they don’t sell quantities less than 5000 and I took a while to find a professional design that worked for me, you will too, don’t worry about that.

•XII. Build your clientele.

Remember that if you are following this step by step, you are still gainfully employed somewhere. You have to build a clientele slowly, possibly spending your first year as a part time corporate president, until you have enough regular clientele that you can comfortably ease up on your day job. Your clientele are more than just a source of immediate income, they have friends, relatives and neighbors that you don’t have. So on to the next step.

•XIII. Ask your satisfied clientele for referrals.

A satisfied client can gloat on you; just make sure that you deliver the goods when they do. Then, you have two satisfied clients. Ask them to fill out referral forms so you can tap into their market and do the same for them as well.

•XIV. Finally, as soon as the money is rolling in regularly quit your day job.

You didn’t start this business thinking that you want two jobs forever. As soon as you can pay your bills comfortably, and perhaps have somewhat of a surplus in your business account, fire your boss! Use the spare time you have now to promote your business and its’ services with the following tips.

•1. Join a local chamber of commerce. – My membership at the Kissimmee chamber has paid for itself a hundredfold and more. Become an active participant and join a leads group. You will get more clients out of the relationships you make than you will in making a hundred sales pitches.

•2. Join a BNI – like a chamber of commerce, just less formal.

•3. Volunteer time (or services) at the local YMCA; sponsor a team with shirts or equipment.

•4. Spend that extra time you have with family, because as busy as you may get, you want to have the joy of watching your kids grow. And if you don’t have any kids, spend that extra time in making yourself more successful by taking time OUT of business and reinvigorating yourself. Take classes, go to seminars and LEARN!

Conclusion

Success is not a goal for the future. It is a journey, doing something you love doing and getting paid for it. I’ve met many a wealthy person who would trade it all to take that risk they never took and enjoy their lives and work all the more. Good luck all of you.

About The Author

Homesoon Accounting, ten years experience in tax prep, bookkeeping and fraud prevention, located in Kissimmee and servicing St. Cloud and Orlando areas. Call David Roberts for help in Quickbooks, tax preparation or fraud prevention at 407-968-5241