The VA Says

Self Employed? A Solo-preneur? You're a Pioneer

If you are self-employed, a SOHO business owner, a solo-preneur, slash careerist... you are a pioneer. In many ways you are blazing a path for cubicle dwellers and others who find themselves on the receiving end of a W-2. 

That is because as an independent, you are engaging in capitalism and free enterprise in its purist form. No Unemployment Insurance for you if the economy's downturn shrinks your paying customer base. And no TARP money for you either--unlike AIG and Goldman Sachs, you're not big enough and you don't have a strong lobby working on your behalf. That's right, no welfare for you.

No, you get to engage in capitalism in its purist form--you walk a tightrope with no safety net, except the one you build yourself. 

But it seems that the cubicle dwellers are not so far behind. Their supposed security gets more precarious by the day. Witness the case of Lou Carlozo, a reporter for the Chicago Tribune. He was asked to write about his family's finances for the paper's blog called “The Recession Diaries.” 

As Carlozo describes it, "it involved me telling very tough stories about my own family finances–stories that led me and my wife to squabble many times over which details to withhold, which to print, and which ones looked inappropriate in print after the fact."

His thanks for his thankless task? The paper took down his final post explaining that he had just been laid off due to the very recession he covered. You can read the story here http://tinyurl.com/cyhkpo

While he did land another job, for many of us, we land our jobs by creating them. Welcome to the New Economy.

Websites, Copy-writing, and Mercury Retrograde

Who doesn't want more results from their website, more opt-ins, more targeted traffic? The good news is that the next Mercury Retrograde period is right around the corner--and Mercury retrograde periods are a perfect time to rewrite the copy of your website, and revamp other projects, if you are not happy with your results. 

Perhaps, you equate the Mercury retrograde period with computer glitches and communication snafus, and, yes, these do happen. So back up your computer and double-check your scheduling--if you are on top of things you are probably doing that anyway.

But what you may not realize is that Mercury retrograde periods are the Universe's way of prodding us to go back and re-examine, re-do written materials and communications to spruce them up. (It's also a good time to check out old leads and, especially, old friends). 

But this time, May 7 to May 30th, is not the best time to initiate new projects or sign major contracts (but finishing up a transaction in progress is A-OK). (Give yourself a margin of a few days on either end if you want to play it safe).

So, such things as reworking your website copy, fits right into a positive use of Mercury retrograde energy. 

If you are a do-it yourself person (handy when dealing with internet copy writing which is VERY expensive if you source it out), you may want to take a copy-writing course. 

One class I recommend is Cathy Goodwin's Copywriting for More Opt-Ins and Clients Program which begins just on the eve of the upcoming Mercury retrograde period--Cathy is a savvy internet marketer, but she is also down-to-earth and delivers a lot of information. If nothing else, it is worth clicking on the link just to see how one very able copy writer delivers her offer. (Savvy copy-writers frequently use swipe files).  http://budurl.com/copystr And Cathy knows all about writing to add traffic and getting those people to add their name at your opt-in box.

The Web is very unforgiving

I suspect that if someone surveyed people who do the nitty-gritty work on the web, I refer to everyone from coders to web developers, web masters, VAs, and, last, but not least, the poor bloke who tries to figure things out on his or her own, one would find an unusually high number of bald-headed people...or anal-retentives. 

That's because in many ways, the web is very unforgiving. Type a URL and accidently skip a space, mis-type a character and your whole screen goes kerfluey (Is that a word?--You know what I mean.)

I just succeeded in mapping a domain for my TypePad blog. All in all, a fairly straightforward operation--if you follow the instructions exactly. I followed TypePad's excellent instructions--it wasn't the first time I've done this...but after more than one exchange with tech support, I still couldn't get it to work. 

 

I was only on my third go-round with tech support that I discovered the problem. The domain was not properly parked. It was just a click of a button, but that was enough to gum up the works and prevent the the blog from displaying upon entering the URL.

When working on the web or any such techie stuff, although you hardly have to be a nerd to map a domain name, it helps to have a clear head and a fresh set of eyes.

Business, the Venus Station and Astrology

For many people in the business world, the subject of astrology results in a show of raised eyebrows. But a wise use of astrology can be of great value to anyone managing a business. 

For example, Venus is stationary in the heavens, and it is about to resume its forward movement. For those who deal with cash in any form, that is good news. If you've used the retrograde period wisely, you've taken the past six weeks to take stock of your financial picture and prioritize that which is most important and eliminated that which is no longer useful.

Business astrologers have long warned against starting a business during Venus retrograde periods. Venus not only rules relationships, but it rules resources and entities begun then are likely to have difficulties having sufficient access to resources--can you say cash flow?

And this was true even before the current economic downturn.

But for those waiting for delayed payments, Venus moving direct will do much to get the cash moving as well.

Taxes, Taxes... the Subject Just Doesn't Go Away

Taxes... April 15th is gone. For those of you who are not filing an extension, it is easy to put the files away and the very thought of the subject back on the backburner.

But the savvy entrepreneur and business owner is thinking about taxes year 'round. After all, early in the tax year you have far more flexibility to devise and implement tax savings strategies than April 14th. So say business advisors and tax planners.

Joyce Rosenburg writes in The Salt Lake Tribune that it is easy to miss out on some of the new deductions or beneficial changes in tax legislation if your planning strategy doesn't accommodate them. And in this economy many of us need all the help we can get.

Ms. Rosenburg cites recent federal tax law changes that help cash flow such as: 

• Companies that incur net operating losses can carry them back five years instead of the usual two, applying those losses against taxes paid in the past and obtaining refunds.

• When making estimated tax payments, businesses are required to pay only 90 percent of their previous year's taxes, down from the usual 110 percent.

She suggests that small businesses not only use tax advisors, but that they should be business advisors as well. And don't wait until April to pay them a visit. You should touch base with your tax advisor at least every six months or more frequently than that. 

LLCs (Limited Liability Companies) Pitfalls

LLCs are a smart way to go if you are self-employed or part of a small company and want to protect lawyers and creditors from going after your personal assets like your house.

But after you pay an attorney to draw up and file the papers, you also need to take some steps to make sure that no one can "pierce the corporate veil."

For starters, you will need separate bank accounts for your business. It not only makes it easier to cash checks made out to the business name, but it keeps business assets separate. Same with credit cards.

And while you're at it, you need to ensure your bookkeeping separates your personal and business affairs. 

Banks and credit card issuers have gotten wise to this--you can expect your credit card issuer to ask you to personally guarantee your obligations to them. Be very aware that in your dealings with that institution, that your LLC status will NOT protect you.

This post is based on my personal experience--I am not an attorney and for specific advice, you'll want to speak to one. 

Nonetheless, I sleep a little better at night knowing I have taken some steps to protect myself by setting up an LLC.

LLCs (Limited Liability Companies) Continued

In the last ten or fifteen years, there have been some changes in the laws that make limited liability companies a practical choice for very small and single-owner businesses. 

I used to think that incorporating meant mountains of paperwork and bureaucratic rules at tax time. But now you can be self-employed, a single-owner business as it is called, set yourself up as an LLC and file the same Schedule C as you did when you were a sole-proprietorship. 

But what is even cooler is that you can set up your limited liability company to have as many businesses as you want under the LLC umbrella. This is particularly handy for many self-employed people who are slash people,ie. actor/waiter, VA/party entertainer/artist--you get the picture. 

And you can create and file business names for each entity under your LLC umbrella. For eg., I have a fictitious business registration for my party entertainment business that reads Ellen M Zucker, LLC d/b/a Faces & Fortunes. And I can have separate fictitious registrations for other businesses or just use Ellen M Zucker, LLC.

At any rate, you get the idea. For fine points, talk to your attorney. But if you are self-employed, in a partnership or owner of a small business, having a limited liability company is a smart way to go.

Limited Liability Companies (LLCs), Solo-preneurs, and Small Businesses

A limited liability company, or LLC, is a wise move if you are self-employed or a small business. 

In the US at least, I can't speak for the legal climates elsewhere, it is prudent to take steps to protect your assets. People sue for all kinds of reasons, reasonable or not, and even a fair and prudent business can be faced with a lawsuit. 

The first line of defense is to carry appropriate liability insurance. That protects the assets of the business. But that is not enough.

I am not a lawyer and this post isn't intended as legal advice per se, but it doesn't take a rocket scientist to conjure up a scenario where a plaintiff's attorney goes after the personal assets of a self-employed person or very small business, particularly if the business itself does not have the volume of assets the lawyer is looking for. That means your house, investments and personal property. 

Melissa Gordon writes about this topic and adds that your personal assets are protected if your business goes bankrupt or defaults on a loan. 

Your limited liability company filing is done through your state. You will need to create an EIN number with the IRS. You can find kits to help you, but when I set up my own LLC, I chose to use a local attorney. Imo, it was worth a few extra dollars to make sure it was done correctly.A limited liability company, or LLC, is a wise move if you are self-employed or a small business. 

In the US at least, I can't speak for the legal climates elsewhere, it is prudent to take steps to protect your assets. People sue for all kinds of reasons, reasonable or not, and even a fair and prudent business can be faced with a lawsuit. 

The first line of defense is to carry appropriate liability insurance. That protects the assets of the business. But that is not enough.

I am not a lawyer and this post isn't intended as legal advice per se, but it doesn't take a rocket scientist to conjure up a scenario where a plaintiff's attorney goes after the personal assets of a self-employed person or very small business, particularly if the business itself does not have the volume of assets the lawyer is looking for. That means your house, investments and personal property. 

Melissa Gordon writes about this topic and adds that your personal assets are protected if your business goes bankrupt or defaults on a loan. 

Your limited liability company filing is done through your state. You will need to create an EIN number with the IRS. You can find kits to help you, but when I set up my own LLC, I chose to use a local attorney. Imo, it was worth a few extra dollars to make sure it was done correctly.

Blogging Challenges

Blogging on a frequent and regular basis is a cornerstone to building a web presence, especially for those who have yet to establish themselves. So says internet educator and marketer Connie Ragen Green. To get our Inner Circle Mastermind group and her other friends, colleagues, and associates to get into the blogging mood, she began a 30 day blogging challenge. 

Blog for a consecutive 30 day period and at the close of May 5th, she will retweet your posts (Connie has over 11,000 followers so lots of people will see your posts). To learn more and to follow the Twitter conversation type in #powerblog.

It seems she isn't the only one in the fray. Darren Rowse also has a 30 day blogging challenge going. He calls his challenge '31 Days to a Better Blog' project. To get in, you sign into his opt-in list. Then he emails you every day for 30 days with a new suggestion to improve your blogging habits. 

Since both are happening simultaneously (is there something in the air in the month of April?) and they complement each other's goals, you can participate in both. By May, when they both end, you'll either be exhausted or a confirmed blogger. And the latter is what both Blog Challenge organizers are hoping for.

Choosing an Email List Manager

Tracy Lawton writes about the pitfalls of choosing the wrong email list manager.

The right email list manager will have flexibility to grow with your business, allow you to use autoresponders to enhance your marketing, doesn't hobble you as you add new income streams and products.

Making the right choice is particularly important because most email list managers require double opt-in where the subscriber not only clicks on your opt-in button, but then has to respond to an email link confirming his permission to opt in. 

In my experience, you lose many subscribers who do not receive the opt-in email or choose not to respond to it. 

Tracy recommends (and I agree) that the best approach is to sit down and do some serious thinking. Where do you want your business to be in 2 years--or more? What system will accommodate the growth that you will need? 

You ought to put your infrastructure in place and then grow into it. If you are an online business, your email list manager is an integral part of your infrastructure.