Thursday

Where Is My Money - Working For Others Or Myself.


Where Is My Money... Is what you're asking to yourself and even to your friends, day in day out. Because it seems like everything you do keeps turning into sand, and no matter how much you put your best food forward and keep coming up with new ideas, it always leaves you needing more money. So what is the problem? What is keeping you from making and getting money? Is it because you are working for somebody else, or is it because you don't know how to start and run your own business, or is it even because some Demonic forces are blocking your financial blessings?


Well let us look at where your money is, whether it is in working for somebody else or running your own Biz. When you work for somebody else you are given a steady paycheck as long as employment is still available. Also when you work for others, they have already agreed along with you, exactly how much money you are to get, and so if your bills have increased then you have no way of getting any extra money. As well when you work for somebody else, you can not just work as much as you want, or just come in on the weekends. Because they would have to pay you overtime. And if you have ideas to expand so you could bring in more money, then your idea may not be feasible for the company's resources.  But you take no real risk of not having enough sales, since if you work then the company has to pay, so for the most part your money is secured. Also you will only be able to retire on a basic pension that has already been agreed upon.


Now when you have your own company, you take all the risks to making sales all the time, just like when you are running a website. Also you now are the boss, and ethically you have to pay everyone who works for you, whether or not the money has come in. And you have to come up with new fresh ideas to bring in new money and to expand. Then you are responsible to pay all the bills, even if you don't get paid yourself. But when you have your own business you can make as much money as your heart desire, you can make money and others your slaves by having them work for you even you are sleeping or on vacation. And you can bring in investors and possibly multiply your money one hundred fold, also you can take in as much profits as you want.  You can be the decision maker, you can work extra all you want and you  can be as rich as possible.  And money will be available for you to buy all that you want, and nobody will give you a hand out of steady paycheck.


So Where Is My Money... Working For Somebody Else Or My Own Business? Well each one has it's advantage, but you can't leave a legacy behind working for someone else, you can't have your name as the company name slaving for other people, you can't take huge tax deductions for hiring other people working at other people place of business, you can't make decisions to  build a franchise, you can't retire and still have money coming in from other people's work. So having your own business is the way to go, just be prepared to work hard at it and do not give up.  



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How to start a business, 10 Docs. You need to start a Business, Best way to start a business, Where to find money 
 10 Docs. You Need To Start A Successful Business


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 Where is my money --- I need right now... SEE

Monday

How To Start A Business - Using These 10 Docs.


You have to have you own Business, by any and all means necessary. And I mean that in the most sincere way, because until you get to the point where you are really and truly tired of working for another person, or some huge corporation that plays with your life as if you are just a piece of string to be cut at will, played with at will and be twirled around, then you will not do any and everything by any means necessary to start your business. I mean let's face it, you are the life blood of every company you ever worked for, because you take things to heart and you always do your best, not for the company's sake, but for your own pride and integrity along with your great reputation. 

And I have to tell you that those 3 attributes, your good pride - your great integrity - your wonderful reputation .. Are all you need to be in business for yourself, and to be successful as well they will always help you to last and stay profitable. Because when you have good pride and not bad silly pride, you will never try to sell a crappy product to your customers who you know are your brothers and sisters, and on top of that because of your good pride you will not sell or present anything to anybody that you don't believe in yourself, or that you wouldn't use yourself or allow your family to use. And then comes your great integrity where you will not sell your soul to make a buck, nor will you ever sell poison to children and you definitely won't lie to your customers or try to avoid them. And finally your wonderful reputation, where you are known to be fair to one and all, where you hate injustice and refuse to take advantage of anyone, nor do you allow your suppliers or partners to rub your customers and sell them fake products. And these are the qualities that anyone must have to start and run a business. 


Because when you go into business, you are doing so to barter with other people, where they trade you money for your services or products. And in doing so you must show that you care about the people who you are dealing with, you must also demonstrate that you are a person of your word and you keep that word to show your integrity. As well you need to build a reputation with your partners, or friends, or customers where they know that you are caring, and you will always do your best to bring them the best and you appreciate them so much because you know that your partners are the lifeblood or your business. James Dazouloute

After Knowing All This, Now Here Are 10 Docs. That Your Business Absolutely Need For You To Get It On Its Way To Success.

Credit:  Docstoc.com
1. Non Disclosure Agreement (NDA) – these are over-hyped in my opinion and few angel or venture investors will sign them, but always helpful to have one handy to bust out at parties.
2. LLC Operating Agreement – I put my first LLC together myself using this agreement. My advice is to hire an attorney, but if you don’t listen to advice so well, knock yourself out.
3. Sample Convertible Note – A convertible note is a way to raise debt for your company that will convert into equity. When you are first raising money, if you can use a convertible note instead of having to give up shares/equity, you’ll usually be in a better position later on and own more of your company.
4. Board of Advisor Agreement – A good board of advisor can be worth their weight in gold, a bad one can be worth their weight in radioactive fluid.

5. Financial Projections Template – This document is “da bomb”. My good friend and previous business partner Mike Sheridan put this together in our prior consulting company Venature. This is a fantastic financial model template to build your basic Income Statement, Balance Sheet, and Cash Flow statement. Needless to say he paid a LOT more attention in accounting classes in our MBA program.
6. Financial Model Projections for an Internet Company – Big shout out to Brian Garrett ofCrosscut Ventures (site coming soon). This is a fantastic model/template for internet companies to use to project their growth.
7. Application for Employer Identification Number (EIN) – Basic government form you need to fill out to get set up with an Employer Identification Number (EIN) so that you too can hire folks and pretend to be a badass at cocktail parties (don’t forget to pull out the NDA).
8. Start Up Pitch Presentation – there are no graphical elements here, but this doc lays out how to describe your business in a presentation format. Business Plans are dead, use a PPT Deck, see graphic examples below.
9. 10 Questions to Consider When Start a New Business – I wrote this doc so I’m biased (hell, I’m writing this whole blog post) – but I do think this is a simple set of questions you can use to analyze any business you are thinking of starting. And once you decide to start, here are some mistakes to avoid.
10. Business Plan Presentation Template – This doc has a sample layout you can use to pitch investors/partners (plus its got a cool effect of color changing bars on the side – that only took me 4 hours to figure out one law school class)



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Tags: How to start a business, 10 Docs. You need to start a Business, Best way to start a business, Where to find money 
 10 Docs. You Need To Start A Successful Business

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