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Growing Your Business Through Others

Whether you are a seasoned business owner, a startup or even in the pre-startup phase; you will benefit from growing your business with the help of others and through others. Using Others? Not Exactly… Now I am not telling you to go use people, no absolutely do not do that. But what I am telling you to do, is use other’s knowledge, experience, and even products and services that they have to offer to help grow your business. And in the meantime, offer your knowledge, experience and products and services to others to help them grow their business. Grow Your Team You have heard me tell you before, grow your team of wonderful people, whether that includes accountants, web designers, organizers or anyone else that will make your business life better. Having a solid team that you can rely on, even if it isn’t employees will allow you to focus on what matters most to you and your business, which also helps your business grow. Networking I am sure you have heard it a thousand times: network, network, and network. Yep, networking still helps you grow your business. The more people that know who you are and what you do, the better. Networking is the easiest way to do just that. If you need some guidance or are ready to meet with me, I am here!

Contracts for Business 101

Contracts are Part of Business Alright in case you haven’t figured out, contracts and business go together, end of story.  Why you may ask, well it’s simple, it is to help keep you and your business protected. There are some different types of contracts that will be beneficial for anyone really. Employment Contracts – When you are going to hire your employees you will want some sort of agreement between you and them outlining the basics, like pay, duration of employment and how you can terminate them. Sales Contracts – Whether you are selling stuff or buying stuff, you will likely run into a sales contract, or sales agreement form more than once. It specifies the important terms, like price, delivery, and who the parties are. Leases – Even a lease, something I am sure you have signed for your apartment or even car, but now you have something else in the mix, your business. As a start-up, chances are you will have to have a lease for space to operate out of. If you need some guidance on contracts or are ready to meet with me, I am here!

Keeping Your Energy Up

Alright I am a horrible person when it comes to having a good energy, OK that might be an exaggeration. But I do need to be better. So why is your energy so important to your business, well your business stems from you already so the energy you have will just feed your business. How can you feed your business the good energy it needs? Well by feeding you good energy you need. Whether it be food that makes you feel good, music that just makes you smile or even working out; any and all of them are good places to start. For me personally, music has always been my driving energy. When I first competed in Miss Minnesota locals, I had music education as my platform; mind you it changed to something more near and dear to my heart, Ovarian Cancer Awareness. But singing and listening to music always puts me in a good mood; it instantly turns my energy around. I make sure when I want to be productive I have music going. Now if eating healthy or working out gives you that energy, then you need to make that part of your habit to make sure your energy is at its highest. How will that good energy help your business? You will have the focus and drive to out your business on the track it needs to be on. Don’t let any failures drain your energy use them to push through and increase your driving energy. In...
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Maintaining Your Business

Alright, so you got your business all set up with the right entity for you and you got all of your other ducks in a row, like trademarks and copyrights. Well now you get to play the maintaining game. The State of Minnesota requires you to file annual reports for your business. What those reports entail depend greatly on the business entity you chose. In addition to the reports your have of course taxes. When you first start out it may make sense for you to only file your taxes once a year during tax time, however once you get some money rolling in, you may want to think about changing your tax payments to a little more frequently. For instance if you are a retail business you may want to file your sales tax payments quarterly or monthly even. Heck you might be required to by your state to do that.  As far as income taxes, there is an option to pay your taxes quarterly so the payment stings a little less. Another maintenance item might be hiring your first employee, or even firing your first employee. While I will be discussing that in more detail fairly soon, I will touch on it. So your first employee hiring and firing. You will want to be sure you know if you are classifying them as an employee or an independent contractor. Whichever one you decided is fine, just know the differences. Also, is an employee contract a good idea? Depending...
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Business Entities 101 – Real Estate Agents

Got your real estate license? Congrats! Now you get to figure out all of the stuff that goes along with being an agent. Independent Contractor In case you missed my post about employees versus independent contractor, here it is again.  Just a friendly reminder, you as an agent are an independent contractor. In case you forgot when you signed all your paperwork. So what does that actually mean? Well you are a sole proprietor in the eyes of the government. I get it, you don’t want to add another piece to your already messy puzzle. Which is fine…for now. I am not going to tell you that you HAVE to go create a business. But I am going to tell you that you should consider it, either for now or down the road once all your puzzle pieces are a little less messy. Benefits of a Business Entity OK, since the real reason anyone would think they may want to form some sort of business entity as a real estate agent is for the benefits to them. I will give you the benefits so you can make your well informed decision. Down the road, when you have a team, you will want a business entity, plain and simple. The moment you bring others into your puzzle you need to make sure they realize they are part of your puzzle and in what capacity. Errors & Omissions insurance held by your broker will only go so far if something problematic comes...
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Business on a Stick

If anyone knows me, they know I LOVE the MN State Fair! To pay tribute to what I really call my birthday party, I wanted to talk about the State Fair and the businesses that call it home. You can find all sorts of food on a stick, political booths, home improvement stands and more. Did you know you could become a vendor at the fair with your business!?! Heck Yea! I mean sure, not everything will be a good fit at the fair, but if you are looking at getting your name out there, I can’t think of a better one if it is something that interests you.   On a more serious note, let’s talk about creation of your business more. Business on a Stick. You have the basics of your food on a stick, your business is no different. The Stick – Your heart and soul. Your dreams and passions. Your systems. Without the stick, you won’t have a very good Pronto Pup or whatever else has been concocted up this year. The Filling – You need the hot dog for a good Pronto Pup. So we are looking at your product or your service. What do you want to deep fry up and serve to your customers? I am giving you a wealth of knowledge and passion for helping people. The Batter – Think of the batter as your signature. Each batter tastes a little different and makes a Pronto Pup SO much different from your...
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What the… are Home Occupation Laws?

Alright I will be honest with you, I had no idea that a home occupation was a thing until I helped James with his business Defensive Resources LLC. No clue whatsoever. I know I cannot be alone with not knowing that this was a thing or even what it meant. So I wanted to share with you about some home occupation considerations for your business. So in basic terms I wanted to define “Home Occupation” for you. It is the use of your home that is not customary or ordinary to a home. Many local ordinances require that the business is basically part of the home but not the activity taking place in the majority of the home. I know really helpful. But I am going to try to make it easier for you to understand. Incidental use is the part of the local ordinances that might trip some people up. In general, the use of the home for the business must be minor in comparison to the rest of the home. Also, a home occupation usually is only for those living in the home. So don’t expect to hire others to meet you at the “office” on a regular basis. Most home occupation laws also require no external changes be made to the home in order to have the business. Think about days of old with in-home salons that expanded to having a separate entrance and parking spaces for the clients coming to them. Furthermore, some cities even go...
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Dreams & Passions

So dreams and passions are what feeds your soul, whether it is spiritual, family, or business, you need someone good on your team to help protect them. Where I come in is for your business and real estate. I want you to have your dreams and passions in business and real estate protected to feed your soul. When you decide to create a life you deserve, you may come to the decision based on financial reasons or other non-financial reasons, either way is perfect! Only you will be able to make that decision. Mindset is an excellent way to get you on the right path. Whatever you decide is your dream or passion, have the mindset to make them wonderful and your own. When you go down the path of creating your own business, I want you to think about it as an extension of your family. You have to love, protect, and nurture it just like any other member of your family. The “love it” part is understanding it is yours and that you are now responsible for that relationship. The “protect it” part begins with deciding on a business entity, creating agreements with any business partners you may have, or any other contracts that need to be put into place to protect you and your new business. The “nurture it” part is how to run your new business in order to protect it down the road. If you haven’t figured it out, I can help you with all...
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From time to time, I will post about various legal topics, including Small Business Planning, Real Estate Law and other topics as necessary, in this blog. For updates, be sure to sign-up for my newsletter.

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