How Do I Go About Forming a Corporation?

Forming a corporation can be a daunting prospect for a new business owner, but it is fundamentally an easy process. You can choose to go it alone, using tutorials and self-help guides; or you can opt to ask the professionals to help you with the process.

The first step in forming a corporation is to pick a company name. Conducting a detailed search on the internet will give you an idea of names that are already taken. The name must also end with words such as Corporation and Limited. Once you have picked a name you are then ready to move on to the next step.

After picking the name, you then need to appoint the Members of the Board and the Directors of you company. Depending on where you do business there may be a stipulated amount of directors or board members needed in the company. These positions will need to be decided before you can fill out any registration paperwork.

After this stage, you can fill out the paperwork which can be obtained from the corporation filing office. The details you need to provide will include the name of your business, the address of your company and sometimes the names of the elected directors and board members. You may also need to provide the name of the registered agent. This is the person who is the public face of your company; someone who the public can contact in the event of a legal wrangle.

The next stage in forming a corporation requires you to create corporation bylaws. These usually set out the rules that the company will follow, as well as details of any shareholder annual meetings. It is then recommended that the directors hold a meeting to establish rules and authorize the release of stocks and shares.

This then leaves the final stages of forming a corporation which are the issuing the stocks of shares and obtaining an EIN (Employee Identification Number). Once this is complete you are more or less ready to start trading as a corporation.

If this all seems a bit too much, there is the option of purchasing ready made companies. There are providers out there who have already registered companies and are willing to sell them to you for a reasonable price. The price that you will pay for ready made companies is usually determined by the age and name of that company.

If forming a corporation is something you would like to do it has a range of benefits such as lower tax rates and protection from creditors for shareholders. This is applicable as long as you uphold the rules of the corporation and do not break the law.

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The A-Z Of Making Money On The Internet – A – Affiliate Marketing

What is “affiliate marketing”?

Before all else let us consult the Compact Oxford English Dictionary for Students. According to this source “an affiliate is a person or group linked to a larger organisation”. Marketing, according to the same dictionary is “the promotion and selling of products or services”. In the universe of internet marketing then, affiliate marketing occurs when an individual promotes and sells the products or services of someone else and gets paid a commission for this.

Commission – How much commission?

Depending on the product or service that the affiliate marketer chooses to promote the payment of commissions could range from 25% up to as much as 75%. A quick search of most of the products sold on a very popular market place for example, seems to indicate an average of 50% commission. This growing company seems to be the preferred market place for most internet entrepreneurs to sell their products. Earning commission from promoting the products of internet vendors is an ideal way of gaining experience as an emerging internet entrepreneur until you are ready to promote your own.

What does one need to succeed?

There competition is truly fierce as far as internet marketing is concerned and one’s attitude and appetite will be determining factors. As far as attitude is concerned there would be the aspect of commitment. How much money do you want to make? How much money are you willing to put in initially? In other words what is your appetite for risk? Do you simply want to supplement your present income or are you looking to build your own internet business and become financially independent, even very wealthy?

Where does one find willing buyers?

There are multiple millions of people who use the internet every day – twenty four hours out of every twenty four. And there are many ways to find them. As mentioned before the matter of “initial investment” is an important one. Investing in a professionally designed website that draws traffic is one way and should be a great help – it should not be too costly as far as purchasing a domain name and the hosting of the site are concerned. There is also the possibility of marketing through direct email if you can obtain a free database or gain access to one at a cost.

What about advertising?

As mentioned earlier if the emerging internet entrepreneur (affiliate marketer) is in a position to make significant provision for advertising in the budget, there are a variety of ways to place advertisements in many strategic places on the internet. This would obviously depend on the amount of money you are willing to set aside as seed capital and again, it would depend on how committed you are to becoming a successful internet marketer.

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Reasons Why You Should Take Your Chances With PhlexProfits

Do you know a system that can literally make money without all the hassles such as tons of guides, software and online marketing training? If no, then you are absolutely missing a big opportunity. With PhlexProfits, your business can already make money as early as possible without the need to do all the work. You can have the best support with this program which can make your business a major source of revenue.

About PhlexProfits

PhlexProfits is an income generating system created by Jonathan Attopie who is a master in the craft. He is not just the guy who will tell you he knows the secret to making money online and will be sharing it with you. He will be doing all the work for your business using the best strategies. In as early as one month after your business is setup, you will have a steady stream of targeted clients, tons of email subscribers and most especially, great amount of sales that will guarantee profits for your business.

Jonathan is a marketing expert and enterpreneur himself and have earned serious revenues using his cutting edge schemes. Upon signing up with PhlexProfits, he together with his team of skilled pessonels will utilize the same strategies that he used to earn a great income online. They will take care of the business idea, branding, website creation and development as well as all the marketing efforts.

In short, all you have to do is to register your domain name and they will do the rest.

Why Go With PhlexPofits?

It is beyond doubt that there are really tons of income generating system out there on the market but why would you choose PhlexProfits over all these? Well, there are a lot of reasons such as the following:

PhlexProfits is unique and offers a fresh concept in the history of online marketing

It is guaranteed to provide income for the business with the aid of the experts

Cost effective because doing all marketing efforts will cost you around $15,000 or more. With PhlexProfits, you will only have to pay $1397

Simple process with strong results
It can make you earn genuine passive income which is what your online business need to succeed and earn profit

These are just a few of the good reasons to take on PhlexProfits and you will know the difference once you finally sign up. However, the seats are limited so hurry and do not miss this unique chance.

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Entrepreneurship – The Path To Paradise

Years ago, judging from an average Nigerian’s view point of change, which is government/governance the only tool of socio-economic reconstruction. Recently I have come to note that most young minds have come to see that real power lies within the mental exercise that shows each person’s psychological capability. This mental strength can be properly harnessed through an organized private and personal effort…these I would say is called ENTREPRENEURSHIP.

Most outstanding entrepreneurs of our time have received the baptism of fire, with the wave of crime and violence that sweep through Nigeria, these a lot of young creative minds have feared to face, they go into recession when the battle is just beginning. Success they say doesn’t mean one would not fall, but the refusal to stay down.

The concrete solution to the upheaval in some difficult regions such as the Niger delta is the power of honesty, sincerity, transparency and the will to do good right. Most young entrepreneurs do not have good, well thought out panacea for the prosperity of the region in which they are situated, their services are limited, also no prospective principles have been backed with a commensurate political will that is crucial to making such young entrepreneurs have a change In mind and bring good will into reality for the benefit of a striving economy.

Let us face these facts on most entrepreneurial tales bruited around the country, the tariff structure, taxes and domestic incentives helps crush 80% of young small scale establishments in Nigeria. The question of wealth generated within an economy ought to be shared between the government and private sector, this problem with tariffs and taxes is also seen at another level, the design of fines and penalties for errant conduct, these should be structured in a manner that they are not so low that they do not discourage the conduct that they are meant to, conversely, they ought not to be so high that they encourage persons who fall afoul of the relevant statutes to seek ways of avoiding payment.

A lot in our striving economy can really discourage one, and leave all ideas a paper work. Opportunities are everywhere and lots of needs need to be met, notwithstanding the political tremor and insecurity; entrepreneurship still seems to be the only way out of the economic Turmoil.

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5 Truths Savvy Entrepreneurs Learned the Hard Way

Today a successful career is like a rollercoaster with ups, downs, twists, and turns, whether you’re an employee or an entrepreneur. Gaining the ability to understand how to maintain your successful trajectory and move past your failures will allow you a more productive and fulfilling career.

1. Welcome detours and failures with open arms

It is a common perception when things get bad that this is “worst thing to ever happen to you” and more often than not when your no longer in the moment it actually turns out to be the best thing that ever happened to you.

Successful people, especially people with an entrepreneurial streak, welcome detours and failures as a natural part of the journey. So first and foremost never question your passion and your ability to get things done. If you have the confidence in yourself, in where you are going, and what you are trying to build, this is what will get you through tough times. And that is all it’ll be – tough times.
Just don’t stare at the closed door too long.

2. “No” is just one step closer to “yes”

If you aren’t being told “no” on a daily basis, you aren’t pushing yourself hard enough or taking enough risks. Develop a thick skin and smile all over because the “no” is one step closer to “yes”.

3. Success is not the natural state of things

One of the most important lessons is that without failure, you do not truly understand success. So worry when success comes too easily or too early in the process, as it will lull you to believe it is the natural state of things, and when failure comes at a later date in some form or another you are most often utterly unprepared.

4. The worst decision is indecision

Learn this lesson above all others: *the worst decision is indecision*. When you’re an entrepreneur, you must move quickly and act from your gut. If you don’t, you will miss out on opportunities that can help your business immensely.

Also, at the end of the day there is no right way or one way to run a business. When you start a company, you think there is a road map or holy grail to success. There isn’t. Ask questions, acquire mentors, gather knowledge and then make an educated decision and do what’s best for your business.

5. There are no shortcuts

Look at the story of a butterfly. A good-hearted man saw a butterfly struggling to emerge from its cocoon, and he very gently took scissors and cut open the cocoon, “so the butterfly could get out easier.” Well, it ends up that although he had the best of intentions, a butterfly actually NEEDS to struggle to break its cocoon so it can develop the strength to fly.

Don’t always take the easy path, because you too are developing your skills to become wildly successful.

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Company Formations – How Does it Work?

Company formations are basically the processes involved in incorporating your company so that it is treated as a separate entity from you, the owner. This rule applies in many countries around the world. The formations can be made by you, attorneys, specialised companies or accountants. Many attorneys will contract this kind of work out to company formation agents, so it is worthwhile approaching these companies directly.

Paperwork must be filled in to give as much detail as possible about your corporation and it is a legal requirement. You will be asked to outline the main purpose of your business, the trading headquarters address and provide the name of your company. It is worthwhile doing your homework before you fill in the registration forms to ensure that you chosen name is not already taken.

Depending on the country you may also be required to submit details about the rules that have been set by the owner in relation to the internal running of the business. Directors, board members and secretaries must also be picked beforehand and the appropriate form filled out with these details also.

Once all the relevant paperwork has been completed fully, it must be returned with the registration fee to the correct office. It is possible nowadays to complete the forms electronically by accessing the relevant office’s computer. Many company formations agents have direct access to this electronic method, which may explain why they are able to process company registrations much quicker.

Before or as soon as your company is registered, you need to calculate your business start up costs, as you may wish to approach a bank to see about a business loan. Start up costs can mount up before you even start trading. These costs are items such as legal fees, logo designs, company formation agent fees and website design.

If you need to see about a loan, you need to sit down and work out a rough figure for your business start up costs. You should also take into account any running costs such as rental fees, staff wages and utility bills, as well as the costs already incurred before you start trading. Once this is all in order you can go to the bank manager with a detailed business plan.

You will be given a decision based on your plan and whether you have any previous knowledge of the trade (which is useful); another point that will be considered is whether you are able to make the loan repayments each month.

Company formations are a popular choice with many people starting up their own business. This is because the company may benefit from lower tax rates and can be protected by limited liability. Company formations may also mean that your business is taken more seriously and you may receive more clients than you would as just a partnership.

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Entrepreneur’s Coaching Center – 5 Steps to Being a Good Boss

Recently, while with a group of engineers, we used an inclusion exercise we call the “Good Boss-Bad Boss exercise. We use it frequently and it is always popular. We ask participants to think of the Best Boss and the Worst Boss they have ever had and then ask them to identify the attributes they liked or disliked about that boss. We follow that with two more questions about those attributes; “How did that make you feel? and What did that make you want to do?”

As you might expect, attributes of the Good Boss were things like, good leader, caring, inspirational, visionary, etc. Those attributes made the people feel like they were important, wanted, competent, going somewhere, etc. and made them want to work hard, be loyal, be a teammate, etc.

On the other hand, the attributes of the Bad Boss were poor leader, self-centered, untrustworthy, etc. Those attributes made the people feel insecure, angry, confused, etc. All of these feelings made them want to quit, put there resume on Career Builder, disengage, etc.

I tell you this story because it is my belief that the key to getting most things done in any organization is having strong Middle Managers. For the most part middle managers are underserved in the way of tools they have been given to do their very important work and the charge to do it.

The most important work of a manager, middle or otherwise, is to develop his/her people and get the goals of the organization achieved through them. We could spend days or even weeks talking about the needs of managers to do that job but I want to give you 5 simple steps that won’t make you a perfect manager, but will make you a better manager.

Five Steps to Being a Good Boss

1. Think of yourself as a coach- It is not your job to run the break the tackle, hold the block or throw the pass. You job is to find people with the talent to do those things and coach them in how to best use their talents. You will know you have arrived when your people refer to you as “coach” versus “Mr.”

2. Know the goal and communicate it – The goal of a football coach is to win games. Not to win them himself but through his team. I have seen many mangers that know the goal but fail in the communication part. Help people clearly understand the goals and how they contribute to achieving them.

3. Give them one-on-one time – Make your style one of “High-Touch” rather than “High-Tech.” Your people need individual coaching and recognition. Give them lots or personal, private time. Help them understand and use their strengths, everyone has them.

4. Hold the accountable – I believe that the greatest challenge among today’s managers is insisting on accountability from their people. Help them know their strengths, their goals and hold them accountable to use their strengths and achieve their goals.

5. Celebrate the victories – Your people need to know that someone else beside themselves cares. They need to know that someone is watching and anxious to see them win, no matter how small the win.

Even bosses need coaches, the key to achieving corporate goals rests with the success of the Middle Manager, who for the most part are often ill-prepared and poorly trained to do their job. All too often, I see middle managers thinking that their job is to be the best technical person, the most knowledgeable person in their field or some other non-person task. But it is not, their number one job is to get things done through people and to do that they need to be skillful coaches focused on getting out what is in their people.

Stephen J. Blakesley, Managing Patner, GMS Talent L P is an author and a speaker. His two, most recent books, “The Target-The Secret to Superior Performance” ( [] ) and Strategic Hiring – Tomorrow’s Benefits today ( one of the top 50 business books of 2006 according to Business Book Review ) are top resources for business owners, mangers and C-Level executives. The latest productivity tool for organizations is a full-day workshop “The Superior Performer Workshop” is delivering accelerated performance to individuals and organizations alike. Contact Stephen and GMS at281-444-5050

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The Creative Minds of the Market

The best way to define entrepreneur is to describe what he does and what makes him an entrepreneur. To define entrepreneur is to understand his characteristics and his qualities and how these makes him an entrepreneur.

The literal meaning of entrepreneur is to undertake. It came from the French verb entrepedre. There are different definitions of entrepreneur. There are different perspectives used to give the meaning of entrepreneur. According to JB Say, a French economist, an entrepreneur is an organizer who combines various resources to produce a marketable product. For Joseph Schumpeter, an Austrian-Hungarian-American economist, an entrepreneur in an advanced economy is an individual who introduces something new in the economy. It may be a new product, method of production, new market or new raw materials, and making changes. For Richard Cantillon, an Irish-French economist, an entrepreneur is an agent who buys resources at certain prices in order to create or develop products with the intention of selling it in the future.

One thing similar with all of these definitions of entrepreneurship is developing or innovating products, combining resources, and generating income from these products. To take into consideration all of the definitions mentioned, an entrepreneur is someone who takes the risk to combine various resources, exploit opportunities to create a demand, employment and eventually contribute to the economic wealth of a society.

To understand more what an entrepreneur is, it is important to take a look at their characteristics and qualities. Entrepreneurs are action-oriented and highly motivated. They are always seeking for opportunities and are challenged by hurdles and problems. They don’t like to be stagnant. He does not see failure as a negative thing instead he sees it as an opportunity to develop and improve. He does not easily feel disappointed or depressed. Entrepreneurs have a high energy level and they don’t like stopping. They are determined to achieve their goals and they don’t let anything stop them.

Entrepreneurs are confident about themselves. They understand their strengths and weaknesses, and they use them to their advantage. They are flexible and risk takers. They make decisions based on current situations but they don’t forget to plan ahead. They understand risks and they are not scared of diving into unfamiliar but interesting situations.

Most of all, entrepreneurs are creative and loves to explore ideas. They can identify opportunities and use them to pursue their goals. They can even create opportunities for themselves and other people. They love to take initiative. They are not mere followers. Their creativity leads to the innovations and developments that they discover and rediscover.

The characteristics of an entrepreneur allow them to become successful in the business world. They do not study to become entrepreneurs. They already have it in them. They are born with it.

The list of entrepreneurs is growing as years go by. Why? Because there are people who are meant not to stop creating new ideas and developing new things. So if you want to become part of the list of entrepreneurs, you must be willing to take on the challenge of innovating, creating and molding resources, markets, products and processes. We don’t know; you might be the next John Rockefeller (Standard Oil Company), Henry Ford (Ford Motors), Bill Gates (Microsoft), Steve Jobs (Apple), Larry Page and Sergey Brin (Google), and Mark Zuckerberg (Facebook).

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Starting Your Consulting Business – Some Tips

Starting anything on your own can be a daunting task. There are no schools for enterpreneurs, no night classes you can take. The so called “Experts” are not very helpful since they don’t know you as an individual and are likely to put you into a slot, depending upon demographics of that slot.

So what do you do?

Here are a few tips.


Absolutely the first thing needed to start your own business, including consulting, is a commitment to give it all you have got. Many people take the attitude that they will do it “between searching for jobs”. You have to decide at some point, whether you are employed or not, that you will not entertain opportunities to go work for someone, but will devote all your resources, time, network and energy in starting your own business.


Use your network in the right fashion. While you are in a “dual” mode, i.e. looking for a job as well as trying to initiate your own business, separate the network you have. Do not ask the same person for help with a job and help with starting your own business. You will be frustrated, since that person is confused and may not use all of his resources in helping you do either.


You will need to figure out revenues expected and expenses. Be conservative, and consult with your friends and professionals. Most start ups lose money for 6 to 12 months. You may not be able to take a salary, and in fact may need to fund such expenses as advertising, entertainment etc.


Many of us who start new businesses with high hopes soon get discouraged. The world is competitive and competition can sometimes be vicious. Remember if you are committed and go about it the right way, you have a much better chance of success. Most businesses start out with a struggle, unless you have inherited the business.


Do not be afraid to reach out to referrals, friends, contacts and even strangers. In advising many new entrepreneurs, I am constantly amazed at their stories about help coming from a totally unexpected source. In fact, they had a common theme–so many of their “trusted” sources let them down. So be bold and ask for help. Most of us feel good about helping someone. Take advantage of that emotion.


What does that mean? Simply that you need to keep up with trends and events in your business and in all businesses that impact your business. A good example: let us say you are starting a tax business. Know what is going on in FASB’s that will impact your taxes, pending bills in Congress etc. Even if they do not impact you immediately, they become good talking points and you score points when you bring them up with your prospects.

Good luck.

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Key Business Take Off Points

Starting your own business can be a lot like a plane on a runway. You have chosen your course. You have done careful preparation taking on all the fuel and supplies you think you will need. You may have even fastened your seat belt in anticipation for a bumpy ride. And there you sit at the start of the runway. (Ready to commit to do what it takes to start your own business.)

With engines blaring you start to move down the runway. You notice you are moving quite slowly at first but the speed is increasing. It’s exciting. (This is the early stage in your business building where you are full of hope and expectation but you haven’t really accomplished anything yet.)

Halfway down the runway, engines still roaring, you notice things are speeding up, there is a lot of activity but you haven’t gained any altitude. (This is the stage of your business when you have been quite active running around telling people of your business and even though it has not translated into much business yet, you remain hopeful.)

Three quarters of the way down the runway, you have expended a ton of energy, the engines on the plane continue to roar, you are moving faster than ever, and yet, you have still not gained one inch of altitude. (This is the stage in your business building when you may start to wonder, “Am I ever going to make it? Am I cut out to be in business for myself? I have put a huge amount of time and energy into this so far. I am really running around doing everything I can think of but I still have no clients. Maybe this is a really bad idea.”)

While the particulars of this experience are as diverse as the individuals involved, this is an incredibly common and problematic moment in your journey into the entrepreneurial atmosphere. In truth, there are some planes (business ideas, professionals and would be business owners) who despite all their best efforts will never get off the ground, this time. If this is you, the kindest thing that can happen is for someone to point out that it doesn’t look like you are going to make it this time. (So you can cut your losses, learn your lessons, adjust your plans, build up new reserves and try again later.)

However, even for the really well-prepared, high potential, future business owners who have done everything right, this is a critical moment in their takeoff. Because if you falter, if you do not fully commit to going the extra mile, putting in the last bit of energy, finding the way past your mounting anxiety – you will not get off the ground.

Making this critical call, whether to cut the engines and lean on the brakes before you crash and burn or keep your engines blaring and go for broke – is never easy. It is not a decision you ever want to make rashly or simply on your emotions. (Because everyone is scared at this point and if you let your fear make the decision, you will never get off the ground. And if you let blind ambition make the call, you may be risking far too much.)

Pilots call this point on a runway V1, the agonizing point after which you are fully committed to take off because you don’t have enough runway to safely slow down. In launching your business, this point when you are three-quarters of the way down your launching runway is definitely the time to check your fuel (how much reserves do you have left), check your speed (what you have learned to date, what is working for you so far, does it look like you are going to make it, etc.). Most importantly, it is a critical time to check in with another experienced co-pilot (fellow business owner, entrepreneur, business coach, etc.) who has been down this runway many, many times before and can help you make a great call.

As someone who has worked with hundreds and hundreds of people trying to get ventures off the ground, it is exceedingly hard when a client has to put the brakes on a dream they have. However, if they do it right, they will survive to try again another day and they will be much wiser. (Most successful entrepreneurs have many failure-to-launch stories. Wisdom comes from experience and experience in business is just another word for many past mistakes.)

However, the biggest sadness I encounter is when I see someone who definitely has what it takes, who has done enough of the right things and who you just know can succeed – give up on their dream, just because they ran out of faith. (Usually right before they are about to take flight.)

It is only in the last little bit of the runway that you get enough wind under your wings to begin to gain appreciable altitude. And once you are off the ground, the sky is the limit.

Bottom line is, getting a business off the ground is rarely easy. It will usually test everything you have. You don’t want to give up prematurely and you also don’t want to ride a losing venture right into the ground.

Don’t try to be a proud, lonely hero. Reach out and learn from a few others who have come down this runway before. (They are all around you and are usually happy to help.)

Steve Mitten CPCC, MCC, of ACOACH4U.COM was the 2005 President of the International Coach Federation, and 2007 Coach of The Year. He is a Master Certified Coach and an expert on human potential and change. Steve has helped thousands of leaders; entrepreneurs and independent professionals find the fastest and most enjoyable route to more meaningful success.

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