How to Start a Business:

10 Simple Steps To Get Started

1.    What is your business? Do some research on the type of business you want to start. This is very important since you will need to become an expert in this field or product.

2.    Create a Business Plan. Business plans are essential when applying for a banking loan or asking investor to invest in your business. Your business plan should detail your business in detail and include a mission and your goals. This plan will show how your business goals will be achieved and how you plan to develop your business, making it a success.

3.    Register your business. Before you can move forward you need to determine the legal structure of your business. The type of business you chose will determine the amount of regulatory paperwork you have to file to start the business, your personal liability in the business, and the taxes you have to pay. Decide whether you are going to form a sole proprietorship, Partnership, LLC, or a Corporation.

a.    Sole proprietor - someone who owns an unincorporated business by himself or herself. Taxes are filed with the individuals personal taxes and liability is the sole responsibility of the sole proprietor.

b.    Partnership - relationship existing between two or more persons who join to carry on a business or trade. Each individual contributes money, property, labor or skill. All parties involved share in the profits and losses of the business.

c.    Limited Liability Company - a business structure allowed by state statute. Similar to a corporation, owners have limited personal liability for the debts and actions of the Limited Liability Company.

d.    Corporation - association of individuals, created by law or under authority of law, having a continuous existence independent of the existences of its members, and powers and liabilities distinct from those of its members.

4.    Fictitious Name? Most businesses register under a fictitious name. This is an assumed name, trade name or DBA name. DBA is short for “Doing Business As”. For Example, If Anthony Smith is a sole proprietor of a dog training studio. Anthony Smith may not want to use his legal business name, Anthony Smith. He files for a fictitious name and runs his business under the name “K-9 Academy”.

5.    Getting a Tax Identification Number. This is also referred to as a Federal Identification Number (FEI).  All businesses are required to pay taxes (Federal, State, and in some cases, Local Taxes). Most businesses need to register with the IRS and receive a tax ID number. Your Tax ID can be used to open a business bank account.

6.    Business Licenses / Tax Receipt / Permits. You will have to find out what types of business permits, tax licenses and permits you will need for your state, county and in some cases, your city.  Regulations vary by industry, state and locality. It’s very important to understand the licensing regulations where your business is located. Not complying with licensing and permitting regulations can lead to expensive fines and put you out of business or sink your finances.

7.    Open a Bank Account. Your business needs a bank account. An account that can track your company’s finances independently of your personal finances. Banks usually require your ID, Social Security or Federal Identification Number (FEI), State Registration and local registration (Business Tax Receipt).

8.    Employees. If your company will have employees you must learn the legal steps that you will need to take in order to hire employees. This is very important because it involves Federal and State regulations.

9.    Build a Website. If you’re just starting out and don’t think you want or need a website, start small. MC Virtual Professionals will build a website for you at a very affordable cost to you. Websites give you an opportunity to tell your clients more than just a few words on a business card. You can tell your client all about your services, samples, and offer them a way to contact you for comments or questions.

10.  Advertising. Start now! Virtual companies like MC Virtual Professionals can help you design your logo or add it to just about anything. They will find the most affordable rates and explain everything to you in detail. They run around and get things done while you work on the other aspects of your business.

WWW.MCVIRTUALPROFESSIONALS.COM

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Actual Assistant vs Virtual Assistant

Is A Virtual Assistant A Smart Option For You?

The "virtual" world sounds so far from the "actual" world that we tend to dismiss it but let's take a look at what virtual really means and some of the things that we have all readily accepted into our actual world. According to the dictionary, the word virtual just means "having the essence or effect but not the appearance or form of". So here are two examples of virtual things that most people use and don’t think twice about.

Ever been in the market to buy a house? Have you ever taken a virtual tour of one? You see the same things you would have seen if you were there but you don't have to drive there (saves you time & gas) and if you don't like it you already know you don't need to see it in person (saves more time).

Ever sold anything on eBay? You say eBay, I say Virtual Yard Sale. It’s the same thing except you don't have to stand out in the sun hoping people come by to purchase something or sit there and haggle with them so you can make a decent profit.

Am I making my point here? Virtual isn't scary and in most cases can be a smart alternative that saves you time and money.

So..........Virtual Assistants.

Keep in mind that we just went over how Virtual isn't so "far-fetched", so please keep reading.

Virtual assistants are the same as virtual tours. You basically get the same thing whether you do an actual tour (hire an actual assistant) as if you were to do a virtual tour (hire a virtual assistant) but there are added benefits.

A full-time assistant means a professional helps you with your work and it costs you a salary, work benefits, liabilities, work space, office equipment, etc.

A Virtual assistant means a professional helps you with your work and it costs you an hourly rate for only the hours you use and nothing else.

Depending on which category you fall under, you have a different use for a virtual assistant. Here are a few examples:

·     Small Businesses - Maybe you don't have a need for someone to work 40 hours a week but could use the help of a professional for a couple of hours to help you get everything done. A Virtual Assistant would be an affordable way to get this accomplished.  

·     Mid-Size to Large Companies - It's likely you've felt the effects of this recession. If you've had to let go of an employee or two....hiring a virtual assistant may be a good way to counter-act that loss. You can save on office equipment and overhead costs of having an employee and just pay a virtual assistant for the hours you absolutely need.

·     Person Just Looking For a Personal Assistant - A Virtual Assistant might be a good place to start. Virtual Assistants can take care of all your personal stuff without you having to hire someone for 20 - 40 hours a week. Having a professional take care of your tedious to-do list might be a good option.

So what can Virtual Assistants do? Well, to be perfectly honest, it depends on the company. Virtual Professional/Assistant companies are all the same in the sense that they provide help when you need it but what they do and how they accomplish that will vary.

MC Virtual Professionals has virtual professionals and/or assistants that can handle a variety of tasks. They are experienced professionals. They are all capable of handling office/personal tasks. They also have professionals that specialize in specific areas such as accounting, database management, marketing, etc.

Here is a list of some of the services that MC Virtual Professionals handles:

1.  Data Entry

2.  Set-up Meetings/Appointments

3.  Accounting

4.  Travel Arrangements

5.  Database Management

6.  Marketing

7.  Website Management

8.  Filter and/or Respond to Emails

9.  Research (i.e. best price for printing business cards, brochures, etc)

10.  Keep Track of Your Calendar/Agenda

11.  Filing (Virtual Filing that is...)

12.  Mail-Outs

13.  Proof-Reading

14.  Gift Shopping

15.  Presentations

16.  Etcera

(If there is a service you are interested in, that you do not see listed here, please send MC Virtual Professionals an email to info@mcvirtualprofessionals.com inquiring about that specific service and someone on the staff will respond letting you know if the service is provided.)

So we agree that Virtual Assistants are not scary and may actually be pretty great right? Yes.

Now, keep in mind that a Virtual Assistant is not the equivalent of a full-time assistant and you may not want to just let go of your current assistant(s) and go hire a virtual one. However, if you are uncomfortable with the situation you are in, then yes, definitely consider a Virtual Assistant.

Whether you‘re starting a business and feel like you're killing yourself to do everything, you’re running a larger business that is going to have to let go of employee(s), or a just someone looking for a personal assistant, a virtual assistant can be a good option. At the end of the day, you are the only one who can determine if a Virtual Assistant is right for you, so weigh out your options and make a decision based on your needs.

If you have questions that you would like answered about Virtual Assistants, please feel free to contact MC Virtual Professionals at info@mcvirtualprofessionals.com. The staff will happily answer general and/or specific questions without any obligation on your part.

~Created by: Sara~