talkroute incorporate business

Why You Should Incorporate Your Business

“Having corporate status implies credit worthiness, reliability, and longevity.” In this day and age, when technology and information are readily available and accessible, the prospect of running a home-based business is well within reach. A growing number of small businesses are opening every day, and many of the people running them are deciding to operate out of their homes. You may be doing just fine as a sole proprietor, but incorporating your business offers advantages and protections which you may not even know are available to you. With the proper guidance, becoming a corporate entity can open the door to a new level of success and allow you to expand farther than you previously could. A Corporation Protects You from Personal Liability A “corporation”, as defined by Merriam Webster, is “a body formed and authorized by law to act as a single person”. No matter what sort of business you …

Business Mistakes

10 Mistakes to Avoid when Starting a New Business

“As an entrepreneur, you may have to completely rewire your brain until your process becomes deliberate, studious, and efficient.” #1 Don’t Fly Solo: The Value of a Partner First off, understand that you do not have to do this alone. Of course, we all want to take control (especially sole proprietor types) and do everything ourselves because we feel this is the only way things will be properly executed. Going it alone requires that you carry the full workload of your company, which means that you also must maintain the energy and charisma that is necessary for wearing all the different hats which could be worn by others who would probably do it better than you (this is discussed in the next point). Very few people can handle the daily grind of starting a business by themselves, which is why most investors, banks—even accelerators and incubators—consider solo entrepreneurs to be …

competition is good

Why Competition is Good News for Your Business

“First mover isn’t what’s important—it’s the last mover. Microsoft was the last operating system, and Google was the last search engine.” Contrary to the belief of the vast majority of those who seek to be successful in business, competition is actually a great benefit to any company. Average entrepreneurs value their competition about as much as they value their in-laws, while experienced entrepreneurs understand that the competition is not the enemy. If you have a viable business, then you can assume that you have one, if not multiple competitors. If you have a promising idea for a business, then someone else has probably already thought of it. When you find another company doing the same thing you are doing, don’t panic. This does not seal the fate of your ambitious venture—in fact, exactly the opposite is true. Competition is Market Validation The first thing to recognize is this: The fact …

customer service

3 Principles That Will Win Customers for Life

“70% of buying decisions are based on how a customer feels they were treated.”   It may sound obvious but if you treat a customer well, you will have a customer for life. So why do so many businesses fail at basic customer service? Sure, there are some truly terrible businesses out there that really don’t care about their customers. But I choose to believe that the majority of businesses that failed, did so unintentionally.    It’s easy as business owners to get wrapped up in the importance of your product or service. Don’t get me wrong, your product is extremely important. However, it is still not as important as how you take care of your customers. In fact, a recent study shows that 70% of buying decisions are based on how a customer feels they were treated. That is a staggering number and one that must not be ignored. …