Making Money Online, Start a $500k Business Step by Step Online Course
http://trafficcoleman.com/ams/home.html Making Money Online, Start a $500k Business Today Step by Step Online Course I will teach you how to make a lot of money by being an supper affiliate by using sites like ClickBank, PayPal and more.
Duration : 0:5:5
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Common Business Mistakes to Avoid
Video from our FREE Online Business Course
http://www.myownbusiness.org
Session 4 – Business Organization
Question:
“What are some of the most common mistakes you see with people going into small business?”
Stan Henslee
Certified Public Accountant (C.P.A.)
Topics covered in this video:
Business mistakes, capital, planning, separation, bank accounts, organization
Transcript:
Basically I think there are three. The first one is that they’re going into the business under-capitalized. They put everything they’ve got into the business at the very start and they don’t have anything to fall back on. If they just had some high limit credit cards that were fairly clean to have something to fall back on to pay the bills when the business takes off a little slower than expected.
The second problem I see is co-mingling funds: paying personal expenses out of the business bank account and paying the business bills out of the personal bank account. You have to keep them separate and you have to treat the business as a separate entity and let it stand on its own.
The third biggest mistake I see, and this cripples most young businesses, is that owners take too much money out of the business in the early stages; where they leave the business under capitalized and no longer have the money needed to replace the product on the shelf or to expand into new areas. That is the kiss of death to a young business.
Duration : 0:1:32
How to Finance Your Start-Up Business
Video from our FREE Online Business Course
http://www.myownbusiness.org
Session 9 How to Finance Your Business
Question:
“Raising start-up money is one of the great hurdles in starting a business. Would you have any recommendations or some basic do’s and don’ts as to how people should go about this great challenge?”
Rod Banks
Executive Vice President, Small Business Market
Bank of America
Topics covered in this video:
Starting a business, financing, loans, writing a business plan
Transcript:
First off, before you begin to think about getting your start-up money together, you need to have a business plan. And once you put the business plan together it will help you to determine how much money you need to start your business. Once you determine the amount, then you’ve got to decide: where is the best place to get it? In today’s world it is very difficult to go to a commercial bank–the typical bank you see on the street– for a start-up business type of loan.
A lot of first time entrepreneurs will start off by using their own personal savings or look to a friend or a relative to see if they can get a friendly partner in with them. Some people will look at putting a lien to some degree on their home. Because of the credit card boom, a lot of people today will take credit card solicitations that come out. And it’s perfectly okay to take one of these low interest rate credit card offers if you manage it in a very responsible manner.
Duration : 0:1:23