With Self-Employment comes certain RESPONSIBILITIES!

Posted on Sunday, December 14, 2014 at 09:04AM by Registered CommenterEarl L. Sigmund | CommentsPost a Comment | EmailEmail | PrintPrint

     

 

Your business will more than likely fail if:

1) You attend networking events & don't bother to follow-up on potential prospects

2) You say you will contact someone & you don't do it

3) You say you will call someone on such & such a date and you don't

4) You join networking organizations, but don't really try to get others any leads

5) You put off doing any tax planning that will save you taxes

6) You never properly register your business and you get caught

7) You lie or fail to tell all the facts to other business associates

8) You always do everything to benefit yourself, but never give anyone else a break

9) You partner up with another business without fully checking out their past and current business practices

 

Expanding into other States + Localities -THE TAX TRAP!

Posted on Friday, December 5, 2014 at 06:11AM by Registered CommenterEarl L. Sigmund | CommentsPost a Comment | EmailEmail | PrintPrint

 

Are you expanding your business into new states and localities? Congratulation! But be careful, you may now be liable for new taxes, new registration requirements, ETC. If you do not research the tax laws, registration requirements, etc. yourself or even better tell your accountant, you probably in a couple of years or sooner most likely will receive a letter in the mail assessing you taxes and penalties and interest for violating your new business territory's laws. In the Delaware Valley area, New Jersey and the City of Philadelphia are very aggressive in persuing businesses who do business i(have NEXUS) in their jurisdiction who are not complying with their laws. Better to be safe and do the right thing now and avoid this tax trap.           

Networking Events are NOT Selling Events!

Posted on Saturday, August 23, 2014 at 10:19AM by Registered CommenterEarl L. Sigmund | CommentsPost a Comment | EmailEmail | PrintPrint

   I have attended hundreds of networking events in my business life and nothing gets me more annoyed is people attending these events trying only to sell me their products or services. Forget the fact that the purpose of these groups, meetings, etc. is to meet people that will be become ADVOCATES for your product or service AFTER they get to know & trust you. I am not buying anything at these events PERIOD. I am only interested in learning about you and what makes you tick. Are you only interested in selling & making dollars or are you a good, knowledgable business person whom I think would be a good referral for someone that I know and like? That's all I care about - PLEASE get with the program if you attend one of these events. 

Learning means making mistakes..........but only small ones!

Posted on Friday, June 6, 2014 at 08:35PM by Registered CommenterEarl L. Sigmund | CommentsPost a Comment | EmailEmail | PrintPrint

 

 

 It remains an amazing mystery to me how conservative new businesses are in general. "The Sales will come .....it's early", the newbies say to me with confidence when I notice that I am the only customer in their store.  "Not true", I sayto the smiling owner....if you really did any real good pre-opening marketing, sales WILL start right out of the shute on day 1.. if just from your old contacts, friends, & relatives.   Think hard outside the box, give those early walk-in customers an offer that makes a buying decision a truly no-brainer for them so that these customers spread the word about you from the get-go. Create that buzz around town ASAP.

Opening a mom & pop retail NOW? - think again...........

Posted on Monday, April 21, 2014 at 06:15AM by Registered CommenterEarl L. Sigmund | CommentsPost a Comment | EmailEmail | PrintPrint

 Unless it's a well-known franchise - you may just want to rethink it before you sign that lease! Selling any type of goods whatever quality ..........online competition may defeat you before you start....More people than not will come in just to tourch your wares and hear your sales pitch, but they will buy online unless you provide world - class service or other services that the on- line giants just can't provide.  Or you have an online business that generates sales.

   I hate to be a bearer of bad news but that's reality plain and simple. Look at the make up of our local non-mall shopping centers and strip retail centers - they are dominated these days more and more by franchises. Only mom and pops operations for the most part are usually the hair salons, nail shops, and a local food shop of some type.     

   Do a lot of research, test the market area on a temporary basis if possible ( 1 yr lease that's it.......)  and pray that you are the exception in today's business world.