How to Start a Limited Liability Company (LLC)

May 26, 2020 5 min read Opinions expressed by Entrepreneur contributors are their own. When choosing a small business structure, many owners go for a limited liability company (LLC) because of the protection from liabilities it provides. If you’ve thought about starting an LLC, follow this guide for step-by-step information.  What is a limited liability company? LLCs are a type of business entity that are similar to corporations in many ways. As the name suggests, LLCs provide personal liability protection to their owners. They also boast a lot of flexibility in management, taxation, and the allocation of profits and losses.  As a company, an LLC can own assets and bank accounts; sign leases, loans, and other contracts; and file a lawsuit or be sued. Since it’s legally a separate entity from its owners, no one person is liable for business obligations or debts. Related: Need a Business Idea? Here Are 55. A step-by-step guide […]

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8 Legal Requirements When You Start A Business

Here’s what entrepreneurs need to do to avoid costly mistakes down the line. February 25, 2020 7 min read Opinions expressed by Entrepreneur contributors are their own. Many people aspire to start their own business, but succeeding in the commercial marketplace is easier said than done. Companies led by inexperienced people unfamiliar with the legal requirements they need to fulfill are particularly susceptible to failure. Nevertheless, many business owners jump into the competitive marketplace without doing enough research when it comes to covering their legal bases. Don’t start a business without first thoroughly preparing yourself. Here are eight legal requirements you need to fulfill when you start a business, and the costs associated with letting these important concerns fall by the wayside.  1. Protect your personal assets The most important thing to consider when launching your own business is how you intend to protect your personal assets. No budding business owner […]

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The 4 Essential Components of Any Successful Side Hustle

Does your secondary gig satisfy these concerns? It should. January 3, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. Ah, the side hustle. From social-media giants like Twitter to cheeky party games such as Cards Against Humanity, there’s no shortage of business-success stories that started out as a secondary venture. But for every breakthrough, plenty more fizzle out within just a few short years.  While becoming a Fortune 500 company probably isn’t in the cards, there’s no reason that yours can’t thrive in the long run. So if you want to see your side hustle to transform into lucrative full-time career, you’ll need to examine it for these four essential components.  Related: 50 Ideas for a Lucrative Side Hustle Do you serve a need or want? Just like any successful business, if you plan on making any money with your side hustle, then it will need to address […]

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The Secret to a Successful Business Is Happy Customers

Have happy customers and you’ll increase your likelihood of success. January 2, 2020 4 min read Opinions expressed by Entrepreneur contributors are their own. There’s a reason why Yelp’s influence can make or break a restaurant in a matter of just a few reviews — customer service is the be-all and end-all of good business. Customers are the backbone of every business and while acquiring them is difficult, retaining them can be even trickier.  If a business is having to constantly find new customers, it’s going to struggle to create any long-lasting growth. Meanwhile, if another business can keep its customers happy, those customers will refer the business to new customers. A good referral from a happy customer is far more valuable to a business than the savviest marketing campaign.  Related: 4 New Year’s Resolutions That Should Result in Happy Customers The founder of Walmart, Sam Walton, was reportedly such […]

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Your Next Career Connection Might Come From a Dating App

Linkedin and Bizzabo remain popular, but more job seekers are turning to other social-networking apps. November 19, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. Whether it’s tracking your eating habits, finding locals in your community to hike with or looking for a date, there’s an app available for just about everything. What’s surprising is how many of these apps are doubling as networking opportunities that can lead people into new jobs and careers.  Apps specifically designed for career networking, such as Linkedin and Bizzabo, remain popular networking tools, but more people are turning to other social-networking apps that aren’t necessarily geared towards business- and career-building. Considering just how saturated many of the traditional business networking apps are becoming, it’s understandable that people are looking elsewhere for the right niche.  Platforms that may be intended to bring people together for a specific hobby, sport or even […]

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Does an MBA Make You a Better Entrepreneur?

The degree doesn’t hurt, but it’s not what makes or breaks successful business owners. November 5, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. For years, experts and business leaders have debated what makes a good entrepreneur more successful than his or her peers. More recently, the conversation has often focused on the educational attainment of the entrepreneur in question, with many arguing rather persuasively that an MBA is necessary if you want to strike out on your own and start a thriving small business that could one day evolve into an international corporate empire. Does an MBA really make you a better entrepreneur? The pros and cons are still hotly contested, but there are plenty of reasons to believe that a sound education can help propel you to greater commercial success than you’d otherwise enjoy without it. Let’s take a closer look. It’s Not About the […]

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Technology Is Changing Insurance for The Better

An entire industry has become both more efficient and secure. October 8, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. Presented by The days of customers calling an insurance company out of the blue and getting a quote over the phone are fading fast. Customers today are digital natives and want the best rates from every insurer out there at the tap of just a few clicks. If they can do so without ever having to dial a phone number, all the better.  Insurers are well aware of this and are rapidly investing millions in new startups and platforms that are already changing the industry for the better. Bye bye, mountains of paperwork. Technology’s impact on the insurance industry isn’t simply taking the headache out of the buying algorithm for customers, it’s also saving us money. (Not surprisingly, price is at the top of customers’s concerns when buying insurance.)  […]

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Don’t Let Digital Marketing Mistakes Derail Your Business

In this online-consumer age, it can make or break growth and survival. September 3, 2019 4 min read Opinions expressed by Entrepreneur contributors are their own. Let’s face it: We live in a technology-driven world, and digital marketing has in many ways surpassed traditional channels. With consumers now turning to the internet for every question they have, it’s easy to understand why thoughtful digital marketing can make or break a business. Without it, any company is as good as dead in the water.  This necessitates not only the implementation of savvy tactics, but a knowledge of what pitfalls to avoid ahead of time. Here’s how to avoid the kinds of digital marketing mistakes that can derail your brand faster than a mouse click.  You’ll Never Reach Your Goals You Don’t Set This might seem obvious, but it’s amazing how many brands out there look at digital marketing as something to just dip their toes […]

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How Fitness Companies Are Disrupting the Way We Work Out

Peloton and Beachbody are altering the landscape of the fitness industry. August 26, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. The 21st century is a strange place thanks to massive levels of technology—even something like going to the gym isn’t safe from the reaches of disruption. However, the thing to keep in mind is that technology, instead of making our lives more complicated, seeks instead to make our lives simpler. If anything, it might help to make us healthier people in the long run. According to Tech Target, as many as 40% of gym-goers lapse on their membership within the first year. By leveraging the social interactivity of internet connection with accountability in the form of groups for training, some companies are trying to bring about a disruption in the traditional field of fitness. For many, it’s a fresh take on a tedious practice, and […]

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4 Security Tips To Help Your Business Grow

Technology is the key to making sure no one unlocks your doors or data. August 9, 2019 5 min read Opinions expressed by Entrepreneur contributors are their own. The world of corporate security is a dangerous place. Small businesses in particular can find themselves on the back foot very quickly, especially when arrayed against criminals that have experience in breaking down much larger security systems. Small Business Trends noted that nearly 9 percent of small businesses were victims of theft or burglary in 2016. Despite this threat, there is hope, since a company can take steps to increase its security. The most common security issues involve computer systems and customer data, but many companies don’t realize the necessity of securing brick-and-mortar premises the same way they would their online presence. By increasing security to a physical location, the company can benefit from increased brand confidence and better job performance and satisfaction among its […]

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Can You Still Make Money Dropshipping in 2019?

The short answer is no. April 21, 2019 6 min read Opinions expressed by Entrepreneur contributors are their own. Ecommerce continues to grow at a breakneck pace, with virtually every business and aspiring entrepreneur trying to make a buck one way or another via digital salesmanship. Nonetheless, certain ecommerce strategies are sounder than others, and some tactics like dropshipping have become less popular over time, thanks to new constraints that make it less profitable. 2019 is a year as disruptive and confusing as ever, though, making it an open question as to whether dropshipping is entirely dead or not. Many continue to assert that dropshipping is a surefire way to earn a profit. Can you still make money dropshipping in 2019? Related: 6 Routine Mistakes People Make When Setting Up a Dropshipping Online Store Customers simply must be a priority. The truth of the matter is that dropshipping is only […]

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Why Time Is Your Most Important Business Resource

Make a personalized effort to better manage your time to more effectively prioritize your efforts toward what you most want. February 27, 2019 7 min read Opinions expressed by Entrepreneur contributors are their own. It’s no secret that proper time management is a crucial element of success regardless of who you are or what you do. Nonetheless, far too few business professionals appreciate time as one of the most important resources around, and precious little is being done in the average workplace to make better use of everyone’s most limited asset. Despite the heavy focus on profitability or the strength of your human capital, managing your time properly is by far the most important element of success in today’s market. And yet you’re likely wasting it. Here are some tactics to make better use of your working hours. You need a personalized approach. Most people are familiar with the fact that […]

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Human Tech Support Still Has a Future

Tech will empower, not replace, human beings. December 5, 2018 5 min read Opinions expressed by Entrepreneur contributors are their own. The brisk pace at which the digital era has redefined contemporary life has many people asking whether their jobs are secure in the future. A rapidly forthcoming tide of robots and automating software, we’re often told, is just around the corner from stealing our livelihoods and rendering most human employees obsolete. Is there any truth to these predictions of doom and gloom, especially when it comes to the IT sector? Despite the hubbub being raised over automation and the ongoing IT boom right now, it’s a simple matter of fact that humans will always be involved in tech support. Here are some of the ways that tech support is changing, but why it will always need human technicians no matter what the future holds. Related: AI Won’t Replace Us […]

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