Q. I would like to start and run an IT consultancy software development and Hardware company...
A. As a small business owner, I can tell you to start first with your local Chamber of Commerce, and register your business with them. They have lists of all businesses in your town, and can help you network. This usually has costs associated, so decide whether your company will need this initially or not. The Corporation Commission will need to be contacted in your state to register your business, and they will give you a TIN, or tax number. This number, usually starting with 86- is also registered with the Federal Government...taxes, you know. The State will need to know you, so you can get a license and registration with them, too. Your actual license to do business will be created by contacting the city in which you live, and they will issue you a little blue piece of paper stating you are a legal entity and can do business in your city. Then you will need an bookkeeper to help you set up your accounts and manage your money. No one manages your money better than you will, so educate yourself with something simple, like QuickBooks. QB can take your start-up company, and give you the basic package of expense accounts, income accounts and credit accounts, and you can extrapolate from there to personalize your particular company.
I have learned from experience that in a software business especially, what you have is intellectual property, and can be easily stolen. Put into place UP FRONT security, and check everyone and everything should they try to walk out the door with anything besides paperclips, because THEY WILL. With computers, nothing is easier to steal than your client list, your company list and/or your ideas. GUARD them. We had a trusted employee of more than eight years begin doing business with our clients behind our back, and having payments for services he rendered sent to his house. I discovered it accidently, as the secretary was helping him, and left the invoice with our customer's name on my desk. I am the CFO, my husband is the President, and my son-in-law does our tech support. We confronted this person, and he admitted his fraudulent behavior, which is nothing short of larceny, fraud and embezzelment of funds. We had a good case, and should have pursued it, but our company is small, and like family. We allowed this person to work an additional three months with us, while he found another job. BIG MISTAKE. In that time, what he had not already stolen, he completed. When you fire someone, walk them to their desk, watch them collect their personal items, and walk them to the door. Change the locks, the key codes, everything. We should have fired the secretary as well, but she tearfully implored us she was innocent. It was a line, and we knew it, but our customer list was already out the door, along with a drop in revenue of over $100,000.00 in a year's time. Why wasn't someone watching? My husband is also an entrepeneur, and our software company was a sidelight to his taking an IPO public and making $565,000.00 for our family.
As things stand now, our independent consultant consults directly to our customers, bills them for his time and receives payment, and we are helpless. Our company is simply too small to try and make the changes we should have made 15 years ago when revenues of over a million dollars were flowing. We tried years ago to install a system in the software to make it stop working if the yearly M & E's were not paid, but our programmer dug in his feet. He was probably in on the whole thing too.
The end of this tale is simple and cautionary: Trust no one. Handle your own money. Do not hire family, as they can become dependent upon you, and are worse than a ball and chain in the long run.
Be ruthless when it comes to protecting your assets. Find a shark for an attorney, but do not ask his advise in business. All he wants is to run up fees. Use him to find out how to accomplish what you want to do legally...and do the same with accountants. Use them, and tell them how to get what you want done in a legal way. But never forget YOU are the boss.
Do not become friends with the staff, do not interact with them to the point where you are replacing hot water heaters for them, or doing payroll in advance so they can make car payments or rent. Our secretary knew she was leaving, so two days before, she asked for a check in advance. I had done this before, so it seemed harmless. I had no idea she was packing up and moving in two days to another city, and she owed us money I was allowing her to pay in installments, free of interest.
Next time, I will do things differently. The ride was fun and we had parties for birthdays with champagne and cake, Christmas parties that cost over $5,000, and two trips to Europe, first class all the way, and twice to Maui.
But next time, I will husband the money, keep my personal life out of business, and trust no one.
Good luck.
I have learned from experience that in a software business especially, what you have is intellectual property, and can be easily stolen. Put into place UP FRONT security, and check everyone and everything should they try to walk out the door with anything besides paperclips, because THEY WILL. With computers, nothing is easier to steal than your client list, your company list and/or your ideas. GUARD them. We had a trusted employee of more than eight years begin doing business with our clients behind our back, and having payments for services he rendered sent to his house. I discovered it accidently, as the secretary was helping him, and left the invoice with our customer's name on my desk. I am the CFO, my husband is the President, and my son-in-law does our tech support. We confronted this person, and he admitted his fraudulent behavior, which is nothing short of larceny, fraud and embezzelment of funds. We had a good case, and should have pursued it, but our company is small, and like family. We allowed this person to work an additional three months with us, while he found another job. BIG MISTAKE. In that time, what he had not already stolen, he completed. When you fire someone, walk them to their desk, watch them collect their personal items, and walk them to the door. Change the locks, the key codes, everything. We should have fired the secretary as well, but she tearfully implored us she was innocent. It was a line, and we knew it, but our customer list was already out the door, along with a drop in revenue of over $100,000.00 in a year's time. Why wasn't someone watching? My husband is also an entrepeneur, and our software company was a sidelight to his taking an IPO public and making $565,000.00 for our family.
As things stand now, our independent consultant consults directly to our customers, bills them for his time and receives payment, and we are helpless. Our company is simply too small to try and make the changes we should have made 15 years ago when revenues of over a million dollars were flowing. We tried years ago to install a system in the software to make it stop working if the yearly M & E's were not paid, but our programmer dug in his feet. He was probably in on the whole thing too.
The end of this tale is simple and cautionary: Trust no one. Handle your own money. Do not hire family, as they can become dependent upon you, and are worse than a ball and chain in the long run.
Be ruthless when it comes to protecting your assets. Find a shark for an attorney, but do not ask his advise in business. All he wants is to run up fees. Use him to find out how to accomplish what you want to do legally...and do the same with accountants. Use them, and tell them how to get what you want done in a legal way. But never forget YOU are the boss.
Do not become friends with the staff, do not interact with them to the point where you are replacing hot water heaters for them, or doing payroll in advance so they can make car payments or rent. Our secretary knew she was leaving, so two days before, she asked for a check in advance. I had done this before, so it seemed harmless. I had no idea she was packing up and moving in two days to another city, and she owed us money I was allowing her to pay in installments, free of interest.
Next time, I will do things differently. The ride was fun and we had parties for birthdays with champagne and cake, Christmas parties that cost over $5,000, and two trips to Europe, first class all the way, and twice to Maui.
But next time, I will husband the money, keep my personal life out of business, and trust no one.
Good luck.
The quickbooks can I install in 1 computer & uninstall & used in a other computer ?
Q.
A. You don't necessarily need to uninstall.
When install it on second (third, etc) computer it will ask you information you created when first installed and activated software.
If I'm not wrong there is a number generated on installation plus your phone and zip code asked when you reinstall. Some cases you need to contact their Help Desk, so they can provide an activation code for you.
IGS
When install it on second (third, etc) computer it will ask you information you created when first installed and activated software.
If I'm not wrong there is a number generated on installation plus your phone and zip code asked when you reinstall. Some cases you need to contact their Help Desk, so they can provide an activation code for you.
IGS
Marketing Assistant for realtors freelance option?
Q. I currently work for a broker with 15 realtors. I assist them with computer organization, troubelshooting, custom direct mail, ad layouts, mailing lists etc. My broker allows me to help them to a point but then they are on their own. I'm limited which has made me bored and can't get upgraded software for my work computer to even learn more. Lately some realtors have been asking if I can freelance for them and said I could make alot doing this on my own. Does anyone else out there do this kind of work rather than in-office? I'm curious how successful it can be.
A. You are perfectly suited to doing this for all kinds of businesses. I do this for a living, only more focused on high end builders and contractors. By setting up your own home office, you become an independent contractor. Ask your boss about the option of keeping that account as an independent contractor, and he will probably jump at it, because it costs them less in taxes, unemployment, benefits. Purchase upgraded computers, software, and start gaining as many clients as you can handle.
To start without a lot of overhead, advertise your business through direct mail postcards, (get 100 free from Vistaprint.com) and going out and getting accounts in person.
The tax advantages of a home based office are great. Plus, working from home has greatly improved our quality of life. My schedule is flexible, and what I make is directly up to me. However, you need to be a self starter, someone who works well without supervision. Have regular office hours, and use a cellphone as your business line, so you are always accessible.
If you are already good at graphic design, have your printing done full color at one of the online printers. Printplace.com or printograph.com are both good sources for everything from brochures to business cards to postcards and folders. In addition, get a working relationship with a couple of local print companies for smaller jobs. Invest in an all in one printer, flatbed scanner, fax, copier, I love my new HP from Staples...just $150 and the cartridges are inexpensive, but the quality is great. For more than 50 pages though, its usually worth heading to a commercial printer to have them copied.
Think of all the other businesses related to real estate, and all the home inspectors, appraisers, builders, etc who you have met in the office. They would be good potential clients, as well as all the other realtors out there.
Get a couple of books from your library on starting a home based business, on graphic design specifically, and have a professional looking office or space to meet with customers in your home. You don't need to spend a lot of money on this, lots of small businesses start out making deals at the dining room table. I started my business three years ago with a computer, desk, and a few good contacts, and learned along the way.
Once you get established, you can become a representative/distributor for list brokers, promotional products, print products, etc. and get a cut on all you sell. One company that has great stuff for realtors is Tradenet Publishing of Kansas. They do full color laminated or magnetic business cards, magnets, calendars, dry erase boards, etc, and that gives you a product to sell. You will have to get a sales tax license, but thats just a form to fill out. Once established with them, Distributor Central is a great one stop place for custom promotional products for resale.
Consult an accountant to get your initial bookkeeping setup, and make sure you have everything filed correctly, and do your own billing with Quickbooks Simple Start.
Best wishes! You will have a fun and rewarding career if you freelance. Scheduling vacations is easy, just don't take on as much work on about a month before, and take your cell and laptop with you so you can stay in touch and not lose on potential jobs.
One word of advice....try to start your business without borrowing any money. Get a couple of paying clients, then buy stuff as you can afford it. That way, if it doesn't turn out to be your idea of a dream job, then you aren't out any money. Using vistaprint for your own marketing materials to get started will help greatly.
To start without a lot of overhead, advertise your business through direct mail postcards, (get 100 free from Vistaprint.com) and going out and getting accounts in person.
The tax advantages of a home based office are great. Plus, working from home has greatly improved our quality of life. My schedule is flexible, and what I make is directly up to me. However, you need to be a self starter, someone who works well without supervision. Have regular office hours, and use a cellphone as your business line, so you are always accessible.
If you are already good at graphic design, have your printing done full color at one of the online printers. Printplace.com or printograph.com are both good sources for everything from brochures to business cards to postcards and folders. In addition, get a working relationship with a couple of local print companies for smaller jobs. Invest in an all in one printer, flatbed scanner, fax, copier, I love my new HP from Staples...just $150 and the cartridges are inexpensive, but the quality is great. For more than 50 pages though, its usually worth heading to a commercial printer to have them copied.
Think of all the other businesses related to real estate, and all the home inspectors, appraisers, builders, etc who you have met in the office. They would be good potential clients, as well as all the other realtors out there.
Get a couple of books from your library on starting a home based business, on graphic design specifically, and have a professional looking office or space to meet with customers in your home. You don't need to spend a lot of money on this, lots of small businesses start out making deals at the dining room table. I started my business three years ago with a computer, desk, and a few good contacts, and learned along the way.
Once you get established, you can become a representative/distributor for list brokers, promotional products, print products, etc. and get a cut on all you sell. One company that has great stuff for realtors is Tradenet Publishing of Kansas. They do full color laminated or magnetic business cards, magnets, calendars, dry erase boards, etc, and that gives you a product to sell. You will have to get a sales tax license, but thats just a form to fill out. Once established with them, Distributor Central is a great one stop place for custom promotional products for resale.
Consult an accountant to get your initial bookkeeping setup, and make sure you have everything filed correctly, and do your own billing with Quickbooks Simple Start.
Best wishes! You will have a fun and rewarding career if you freelance. Scheduling vacations is easy, just don't take on as much work on about a month before, and take your cell and laptop with you so you can stay in touch and not lose on potential jobs.
One word of advice....try to start your business without borrowing any money. Get a couple of paying clients, then buy stuff as you can afford it. That way, if it doesn't turn out to be your idea of a dream job, then you aren't out any money. Using vistaprint for your own marketing materials to get started will help greatly.
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