Thursday, August 28, 2008

Sole Proprietorship, LLC or INC ?

This can be a very complex question to answer. I know weeding through the legal terms and procedures was challenging for me, at first. There are definite advantages for each business entity. Choosing one over the other is certainly a personal choice, it just depends on what the needs are for your particular business.

I was talking to a friend of mine the other day who is in the process of starting a foundation for at-risk youth in Washington, DC. He shared an interesting gem with me. He said he's getting his business incorporated in Delaware. Turns out that Delaware is a very business friendly state. So much so, that it is home to some of the largest and most successful Fortune 500 companies in the world. I thought that was an interesting fact....something I will definitely keep in mind for the future.

Although it's best to consult your attorney or accountant before making your business law decision, there are lots of resources available if you want to research this on your own. I came across this helpful website the other day, it may provide some additional insight:

http://hubpages.com/hub/Sole_Proprietorship_vs_LLC-Know_the_Difference.

Good luck!

Thursday, August 21, 2008

Expanding Consumer Appeal

One of the challenges I've been facing lately is finding a way to expand my consumer appeal. Public Relations & Consulting can have such a focused approach that sometimes I feel I'm missing a larger audience. Event planners, for instance, have mass appeal. Everyone you know has a party, birthday party, anniversary or holiday party. So pitching planning services in this industry is easy. But providing pr consulting to small business owners is a little bit trickier. Sure everyone needs to grow their business...but finding those customers are the hard part. One suggestion I received is to find a vertical niche...like providing consulting services to only financial investment planners. Financial planning is a hot industry these days So, if I focus solely on financial planning...I can expand my focus by providing several different consulting options for this particular business type. So, that's one idea.

Does anyone have any other suggestions?

Friday, August 15, 2008

Second Guessing Your Customer Base

I make market and sell wicking sleepwear for women having night sweats. It is a niche market, but a growing and potentially big market. As the CEO of my company, I am always trying to get publicity for the company. If I have an article written about me, I get lots of sales. These customers then usually buy again because they want to have a spare pajama set or night gown while they launder the first. They are pleased with the product and that is wonderful, but my challenge is to get the next customer and the one after that. I can not depend on word of mouth because this is an intimate item that some women don’t feel comfortable talking about.

While my line of clothing travels well and feels great, I think women from all age groups should wear them, I am concentrating on my market niche.
I am wondering if this is a mistake.
Should I broaden my base and focus less on menopausal women and cancer patients but more on the general women population?

Menopause happens to all women, but many are in denial that it is happening to them. Night sweats is a very common side effect of menopause. Cancer treatments and medications also cause night sweats. The cotton industry has done a great job in convincing women that a cotton pajama set or night gown will help. Cotton does not retain its’ insulating qualities once wet. This means, you sweat, the cotton you are wearing gets wet, stays wet and you wake up cold and damp. So for my business, Haralee.com, I have to convince women that the sleepwear works, and to buy several and to tell their friends and family.

Does any one remember the television commercial, if you tell one person and they tell one person and so on? Well I need lots of those people telling! How to get women talking about something helpful but not very glamorous???


by Haralee Weintraub

Thursday, August 14, 2008

HERE I GO AGAIN

WE HERE I GO AGAIN, I'M STRETCHING MY SELF THIN AS USUALLY, RUNNING A BUSINESS AND TAKING ON MORE RESPONSIBILITY IS STRESSFUL, I'VE JUST RECENTLY BECOME A MENTOR TO SOME 4-8 YR OLD I THINK THAT IF YOU GET THEM YOUNG YOU CAN MOLD THEM INTO VERY SUCCESSFUL ADULTS, I COULDN'T SAY NO, I DIDN'T HAVE A MENTOR WHEN I GOT STARTED AND WOULD LOVE TO HAVE ONE NOW, BUT THE OPPORTUNITIES ARE ENDLESS. I LOVE WHAT I DO OR ELSE I COULDN'T DO IT, IT'S NOT A JOB IT'S A CAREER, AND I'LL DO THIS UNTIL I REALLY CAN'T DO IT ANY MORE AND THEN PASS THE DREAM ON TO MY CHILDREN, THEY HAVE BEEN MOLDED TO BE ABLE TO RUN THE RESTAURANT/CATERING COMPANY IF I CAN'T ANY MORE. BUT I'M PUSHING ON, WITH FAITH,PRAYER AND DETERMINATION, THERE ISN'T ANYTHING I CAN'T DO WITH OUT THE ONE ON HIGH.

Saturday, August 9, 2008

Surviving the Odds

As a business owner, I know the odds aren't in my favor. Most businesses fail within the first two years. I have heard that statistic over and over again. True, in my first year of business I have encountered my share of challenges: finding new clients, securing the start-up collateral and finding ways to market my message are just a few of my setbacks. But they were expected.

That is why I created this blog....because I know the challenges I face are shared by millions of business owners across the country. Not everyone is fortunate enough to have a business coach or a mentor to provide encouragement through these difficult times. If you do, consider yourself lucky...very lucky. The reality is...owning a business is a tough job and setbacks are inevitable. But it's how you deal with those setbacks that can define just what kind of leader and entrepreneur you are.

How do you deal ? Do you tackle your challenges head on or put them off for another day? Are you flexible to change or do you find it hard to bounce back from an unexpected turn?

One day at a time. That's my mantra for my business. What's yours? How do you encourage yourself and/or your employees? Please share. Someone else may benefit from your experiences.

Wednesday, August 6, 2008

HOW AM I DOING THIS?

YOU KNOW TRYING TO RUN A BUSINESS IS REALLY STRESSFUL, IN THE COMBINATION WITH YOUR FAMILY, AND I DON'T KNOW HOW I'M DEALING WITH IT BUT I AM, I THINK THAT ALL MY STRENGTH AND DETERMINATION COMES FROM THE ONE ON HIGH, BECAUSE WITHOUT PRAYER AND BLESSINGS I WOULD BE SITTING IN THE CORNER ASKING FOR A BAG OF MARBLES AND SOME GRAHAM CRACKERS, LADIES IT TAKES ALOT FROM US ON A DAILY TO DO WHAT WE DO, SO I COMMEND YOU, KEEP PUSHING ON AND I KNOW THAT EVERYONE OF YOU WILL BE THE SUCCESS THAT YOU WISH TO BE.