Growing Your Business in Today’s Market
Filed Under: Videos of Interest
Tags: U.S. Small Business Administration, Videos of Interest
Growing your business in today’s market will start with a fine-tuned business plan. Business plans and strategies can and will change along the way, however a strong business plan is the template for your business success. A business plan is a wonderful tool whether you are looking to start or grow your business. Picture this as the road map for your business.
As important as it is to know how to grow your business, it is just as important to know when. Whether you started off with the intentions of growing, or the demand for your product or service has increased dramatically, certain questions must be answered before this important business decision is made. Can you afford the growth? With growth, comes the need for more product, more employees, more insurance, etc.. The company’s financials will make up a big part in this decision. Do you plan on financing the growth, or using cash from the company’s funds? The answers to these questions will depend on your personal goals and business plan. We bring it up at this time to simply note that it must be addressed. Where you are versus where you want to be needs to be addressed on a quarterly basis at the minimum.
In their five minute “Strategies for Growth-Preparing for Growth” video, the Small Business Administration talked to Carey Wilson of the Maryland Small Business Development Center who offers five valuable tips for growth.
- Knowing when it’s time to grow your business
- Use and adjust your business plan to guide your growth
- Use available counseling resources
- Get help financing your business expansion
- Understand the difference between an Ops Plan and a Strategic Business Plan
In this video, he explains that “Strategy is really bout answering the fundamental questions of why you’re in business: What’s our business? Who’s our customer? Why are we special? Why are we better than our competition?”
The Boater Registration Myth
Filed Under: Delaware, Limited Liability Company, Videos of Interest
Tags: Articles of Interest, Delaware, Limited Liability Company
In a recent article Safe Boating: The Delaware LLC Way we discussed the benefits of placing your boat in a Delaware LLC and registering it here in Delaware. In this article we will go deeper into the registration myth.
I recently read a very interesting article from BoatU.S. Magazine called “The Boating Myth That Won’t Die”. With the economy still stagnating every state is revenue hungry and looking for uncollected taxes. Cruising boaters crossing state borders may find themselves in troubled waters if they linger too long in one area. The article was about a family who sailed their vessel on the eastern seaboard from Florida to Maryland. Along the way making stops in a few counties in North Carolina, when they arrived at their new home in Maryland they found mail from the state of North Carolina concluding they had personal property in North Carolina and therefore were subject to taxes in North Carolina.
I found the information below to be interesting in that typically clients will register their boat here in Delaware and cruise around the world docking in numerous parts of the world. Below is an excerpt:
A common misconception in recreational boating circles is that federal documentation of a privately owned boat by the USCG exempts the vessel from state registration, and thus taxation. This is NOT the case. In fact, most states require vessels kept in their waters for prescribed length of time, most commonly 60 to 90 days, to register and obtain a state sticker to indicate that the owner has paid the required taxes.”
So the message to take from all this is make sure that if you’re cruising your vessel from place to place and are registered in another state beware of the length of time that you are stationed in each location as you could be subject to taxes.
TED Talks: Let’s Raise Kids to be Entrepreneurs
Filed Under: Videos of Interest
Tags: Entrepreneur, TED Talks, Videos of Interest
Harvard Business Services has always believed that entrepreneurs are the true innovators of the world. They are the creative life blood of the economy that propels us forward. Imagine a future where the next generation is taught the skills to be an entrepreneur. Check it out!
TED Talks: How Great Leaders Inspire Action
Filed Under: Videos of Interest
Tags: TED Talks, Videos of Interest
An interesting TED Talks video with Simon Sinek explaining how great leaders inspire action using the Golden Circle.
Listen Up
Filed Under: Videos of Interest
Tags: Videos of Interest
Listen up and check out this Tom Peters video as he explains his theory on strategic listening.
