Cathy Stucker, the Idea Lady, has helped thousands of people discover creative paths to success on their own terms. She is a frequent speaker and seminar leader on business topics and has appeared on many radio and television programs. Cathy has also been featured in The Houston Chronicle, The Houston Business Journal, Black Enterprise, Woman’s Day, Woman’s World. Visit her site for great success resources at www.IdeaLady.com. (more…)
Archive for the ‘Business and Tax’ Category
Solo-preneuring:Get Paid to Do What You Love to Do
Wednesday, October 21st, 2009
Wealthy Ways
Saturday, October 17th, 2009Most of us have been programmed from the beginning of our lives on this earth to become employees. We are taught to get a good education, so we can get a good job and then retire comfortably on our 401K. Well, we all know that formula isn’t working for about 95% of the population. The key to success in the new economy is getting out of that employee mindset and expanding our minds and our income streams. (more…)
The Right Stuff, Part 3
Saturday, October 10th, 2009Essential Qualities for Owners
Over the last few days we’ve been examining what it takes to be a successful small or home-based business owner. In our last article you had the opportunity to examine your strengths and weaknesses. It’s important to realize that you can still be successful even if you don’t possess every skill the “experts” say are needed to run a small business. There are, however, certain qualities that are more important to possess if you’re going to be successful. Let’s take a look at them: (more…)
The Right Stuff – Part 2
Thursday, October 8th, 2009Successful small and home-based business owners know their own strengths and weaknesses. They build their businesses around their strengths and they compensate for their weaknesses. If you’re to succeed, you’ll have to be able to identify what you do well and what you don’t do so well.
As you evaluate yourself, be honest. You’ll only hurt yourself if you’re not. Also, don’t panic if you discover that you have weaknesses. Every person has them, business owner or not. The key to success is not so much in having every skill (although that would help) as it is in finding ways to compensate for the weaknesses. (more…)
The Right Stuff – Part 1
Wednesday, October 7th, 2009Have you decided to start your own business? Generally, people who start their own businesses can be grouped into two broad categories. The first group consists of people who know exactly what they want to do and are merely looking for the opportunity or resources to do it. Usually, these people have already developed many of the skills necessary to succeed in their chosen field. They are also likely to be familiar with industry customs and practices, which can help during the startup phase of a new business.
The second group consists of people who want to start their own business, but don’t have any real definite ideas about what they’d like to do. While these people have developed skills in the course of their employment or education, they may not be interested in opening a business in the same field of endeavor. (more…)
I’m In Business, Now What?
Wednesday, October 7th, 2009In a recent survey, many of you stated that you could really use some help with Business Start Up, so this article is for all of you out there that have taken the plunge with a new business.
Remember don’t attempt to do it alone; surround yourself with experts! Tap into the wisdom of legal expertise in your particular field, accounting expertise, tax strategists for small business and other successful business owners to avoid some of the common pitfalls. (more…)
Is Your Home Business At Risk?
Tuesday, September 29th, 2009There are approximately 18 million home-based businesses in this country, and well over half of them are risking the future of their businesses but have no idea they are at risk. Many home based business owners simply do not have enough business insurance coverage.
You may be among the many entrepreneurs that mistakenly believe they’re covered by their homeowners insurance, but most homeowner’s policies limit loss of business property to $2,500, don’t cover losses away from the home, and exclude liability coverage for business-related activity.
Insurance policies do vary so you will want to find yours and read the fine print.
Even though your business is in your home, you still have the same risks as some of the bigger traditional businesses. Many work-from-home enterprises have lots of computer equipment, software, printers, office furniture, telephone equipment, products and irreplaceable files, paperwork and the list goes on. If you travel away from home on business you could be caught on the road with business checks you’ve collected, your expensive laptop, cell phone, products and other business supplies. If your rental car was broken into and you lost everything, would you be covered?
There are also the issues of liability. If you see clients in your home and they slip and fall on your icy sidewalk are you covered? Or what if something you produce and sell from home injures someone? All business owners should be asking these questions and getting answers. You could easily lose everything in one fell swoop if you find yourself without the proper business insurance.
Here are a few actions you should take to avoid unnecessary risk and loss:
1. Take an inventory of all your business equipment. Include photos of everything you have and a written statement of value. Include receipts of actual purchase with this file whenever possible.
2. Evaluate how often you see clients in your home? Are there any possible hazards?
3. Where would your business be run from in the event you lose your home to fire or other natural disaster? Develop a disaster recovery plan to minimize the interruption of business should disaster strike.
Home Office Tax Deductions: Do You Qualify?
Thursday, September 24th, 2009Are you part of the 44 million people that have a 30-second commute by working at home? Statistics show that in 2005 nearly a third of the U.S. workforce regularly worked at home. Yet the IRS reports that less than one fourth of these at-home workers claim home office deductions. This could be because many don’t meet the IRS’s strict criteria for claiming the home office deduction. Still others may qualify but choose not to take the deduction because they think it may increase their chances for an audit. (more…)
