For first time business owners, learning and implementing common practices could be over bearing.

However, understanding that sticking to these practices only helps refine and inflate the scale of the services provided to a wider range of clientele. Passion, Customer Experience and Organization, all these practices are particularly important in the mindset of a business owner so they may see it thrive. Most start-ups fail from a lack of implementation of proper business tactics. Tactics that are sometimes overlooked and have inconceivable repercussions which could lead businesses to their unwitting doom!

In business, there must be a want to provide a service or product! And in those services and products the business owner must be passionate! Passion greatly influences the chances a customer is willing to take with you as a business owner. Before a customer is keen on committing to your business, they’ll usually want to find a good reason to pick you, working passionately gives customers the sense that you will give them the best value for their dollar. Passion is in a way a force that business owners use to fuel their business forward.

Once the customer walks into or clicks into your store, the business must be ready to give the customer a great experience. What is a great experience? Greetings and salutations, attention to detail, standout product packaging and presentation are just a few of the ways business owners can go the extra mile for their customer. This will inherently bring repeated clientele. A single sale from a client is great, repeated business with that client is the goal. One bad interaction with the client could deter their business in the future. Bad interactions could be as simple as a wrongly scheduled appointment for a client.

Organization is one of the most important ways to be able to keep records of the crucial information that easily slips through the cracks. Businesses need to keep records of finances, deadlines, and need to plan in order to continue providing good service to its clientele. One cannot perform well within chaos and the unpredictable nature it causes. Consider organization for businesses as a service for its customers, as well as for itself. This goes a long way for many practices aside from business.

Practices that business owners apply to their business should be treated as respectably as the initiative they use to maintain their life. A good business tends to have an extension of a persons combined good habits and practices. Those practices, as simple as they are, become the customer experience that is sought and brings repeated clientele for any business. Which is just what any startup needs in order to do just that, Start going UP!

INDEMNIFICATION AGREEMENT
Don’t Take Chances: Protect Yourself from Personal Liability
We strongly recommend that you include special provisions in your Articles of Incorporation or Articles of Organization and additional Corporate agreements which trigger this important protection requiring the entity to indemnify and hold harmless it’s Directors and Officers or Managers and Members from any actions they take on behalf of the entity. If a Director, Office, Member or Manager is ever sued for actions taken on behalf of the entity, these provisions require that the entity be held responsible.

SERVICE AGREEMENT

A service agreement is the Foundation for a Successful Service Business – You are LOSING $$$ without it!

You are LOSING MONEY if you do not have a Service Agreement. Without a service agreement you are watching dollars walk away every day. Obtaining a first time customer is very expensive. Yet so many entrepreneurs let that customer walk away after the initial sale. This is a sure fire way to make your business fail. Successful entrepreneurs know that the key to starting a thriving enterprise is repeat business. It is far too costly and time consuming to build your business on first time customers alone. You MUST turn these first time customers into repeat customers. A service agreement is a solid investment in the future of your business and is a fast, easy, and cost effective way to make your business succeed. A service agreement works as a tool not only to secure repeat customers but also to market your business. The Service Agreement is a customized written agreement entered into with its customers and is the bedrock foundation of many service businesses. Many franchises sold for tens of thousands of dollars are business formats revolving around a successful Service Agreement. The key with a Service Agreement is to make it work as a marketing tool offering the business services in the widest variety of formats to your customers. For example, a one-time use customer needs to be converted to a monthly, quarterly or annual type repeat customer. At Spiegel & Utrera we want to help you get, and keep, your customers while looking professional and at the same time maximizing each sale with a friendly service agreement. A Service Agreement starts at $367.95 up to $897.95 depending upon its complexity if ordered at the time of forming your entity. We will prepare a draft of your Service Agreement and deliver the draft by fax or email to you for your review. Once you have had an opportunity to review the Service Agreement we will meet over the telephone to discuss the various aspects of the draft Service Agreement. Thereafter, Spiegel & Utrera will make changes to the Service Agreement to finalize it. Once the Service agreement has been finalized and delivered to you, you should take it to your printer to be printed and padded so it will always look professional and non-negotiable.

TRADEMARK YOUR COMPANY NAME OR LOGO
Intellectual property is a specialized field where an experienced attorney from Spiegel & Utrera, P.A. can assist you in avoiding Federal Trademark and Federal Servicemark registration pitfalls. Filing a Federal Trademark or Federal Servicemark yourself or using a document preparation service may look cheaper, but in the long run you may very well end up with needless delays and added costs. Although Spiegel & Utrera, P.A.’s filing of your Federal Trademark or Federal Servicemark application does not include representation if the application is rejected or requires amendment, if legal issues do arise, Spiegel & Utrera, P.A. stands ready to represent you in completing the registration process. Give us a call today to discuss protecting your enity name or logo from copycats.

AGREEMENTS PREPARED PROFESSIONALLY
Click here to view our agreements index.

Saving time and money on a legal document is prudent only if you get the job done right the first time. However, if your inexpensive, do it yourself “legal document” never gets completed or worse gets completed but does not hold up in court and costs you thousands of dollars in lost business, you’ve made a poor choice. Call us at (800) 603-3900 to get a free quote to prepare an agreement or submit your details online.

Get Valuable Insights on How to Build and Get More Out of Your Business
Lawrence J. Spiegel is the author of Detours and Contradictions: The Challenge of Being an Entrepreneur. A nuts and bolts resource for the boot strapping entrepreneur who wants to start or grow a business. Lawrence J. Spiegel is also the author of Charlie’s Entrepreneurial Journey: A Guide to Success Through Entrepreneurship. His latest book provides 416 pages of insight into the world of an aspiring entrepreneur named Charlie. Charlie’s journey leads him through topics never discussed in business books but essential to success. Pick up your copy here.

Spiegel & Utrera, P.A.’s YouTube Channel
View some of our videos on “Company Records Book and Seal 101“, “Creating a Membership Driven Business“, “Developing Your Business Model“, “Use of a Lead Generation Strategy&” and more.

AmeriLawyer YouTube Playlist (20 Videos)
Listen to our complete AmeriLawyer.com playlist on how to start, expand, buy, sell your business!Visit AmeriLawyer’s YouTube Channel to get valuable information on starting a business, business model development, building business credit, marketing and lead generation plan.

Learn more by reading some of our Entrepreneurial Posts or Business Posts on Spiegel & Utrera, P.A.’s blog.

CORPORATE FRUGALITY AND FINANCIAL SUCCESS

Frugality in business may be the most meaningful but largely undocumented characteristic of companies. Financial success is determined by how much you keep, not necessarily how much you made. Frugality in business is considered as a corporate trait of consistent and disciplined management of spending to achieve long-term strategic objectives and sustainable profits. This differs from budgetary control since companies control cost differently and make greater use of a broad range of cost management practices. Regardless of current economic challenges some choose to manage strict cost discipline and avoid waste as the standard in doing business; treating the assets with a sense of responsibility and stewardship throughout the business’s history and expansion.

One consideration when researching how to implement frugal practices in your enterprise is to consider investing in services over products. Services may provide resources beyond your capabilities taking your level to the next tier and will begin a history of professional relationships and networking that may provide an ROI through word-of-mouth and complimentary, rather than competitive, exposure. Products on the other hand often loose a large percentage of their value as soon as taken off the shelf or driven off the lot. The savings made and reinvested today has the potential to grow with compound interest to a sum that rivals the business’s profits in the future.

Visit AmeriLawyer’s YouTube Channel to get valuable information on starting a business, business model development, building business credit, marketing and lead generation plan.

Learn more by reading some of our Entrepreneurial Posts or Business Posts on Spiegel & Utrera, P.A.’s blog.

GET VALUABLE INSIGHTS ON HOW TO BUILD AND GET MORE OUT OF YOUR BUSINESS
Lawrence J. Spiegel is the author of Detours and Contradictions: The Challenge of Being an Entrepreneur. A nuts and bolts resource for the boot strapping entrepreneur who wants to start or grow a business. Lawrence J. Spiegel is also the author of Charlie’s Entrepreneurial Journey: A Guide to Success Through Entrepreneurship. His latest book provides 416 pages of insight into the world of an aspiring entrepreneur named Charlie. Charlie’s journey leads him through topics never discussed in business books but essential to success. Pick up your copy here.

IMPORTANT CONSIDERATIONS IN BUSINESS BANKING

One of the most over looked and undervalued steps in the venture of a new enterprise is establishing a solid financial ground and reputation for your business. A detailed business plan will set the foundation for the types of transactions and financial requirements your business will deal with regularly. Using those considerations in comparison to the following banking services and features available today, take the time to research with whom you’ll be taking your business to. Setting up the right account early will provide the opportunity to build credit, successfully apply for loans in the future, and provide necessary professionally prepared financial statements.

No Monthly Fees
Most banks will waive the monthly fees entirely if you meet certain requirements such as minimum balance, direct deposit, automatic bill pay, etc.

Signup Bonuses
New business require several purchases to get started, many banks will offer Cash back Rewards or introductory signup bonuses if you utilize the account frequently within the first days.

Online Banking Options
A must for doing business in the modern era. Double check that your selected bank is associated with any digital payment platforms you may use or wish to accept.

Credit and Investment Options
When expansion is part of your plan, consider utilizing banks that provide business lines of credit or money market accounts for larger purchases such as company vehicles or future initiatives and investments.

Visit AmeriLawyer’s YouTube Channel to get valuable information on starting a business, business model development, building business credit, marketing and lead generation plan.

Learn more by reading some of our Entrepreneurial Posts or Business Posts on Spiegel & Utrera, P.A.’s blog.

Spiegel & Utrera, P.A. is aware that being a successful entrepreneur is not an easy task. Within the first year of opening your business, 18.4% of private sector businesses in the U.S. fail and after five years, 49.7% have faltered.

Click on the 5 steps below to increase the chances of your business succeeding long term.

Step 1. Get Educated On Everything To Do With Your Industry

Step 2. Make A Business Plan

Step 3. Consider Efficiency And Specificity In All You Do

Step 4. The Secret To Surmounting Competition: Customization And Innovation

Step 5. Steady Growth – Don’t Over Do It!

STEP 1. GET EDUCATED ON EVERYTHING TO DO WITH YOUR INDUSTRY BACK TO TOP
Many businesses begin as a personal passion project without much consideration for current market trends. Is your business’s service or product something that only you need, want and derive satisfaction from, or does it have a much larger demand online or in your local community? This is the time to do a side-by-side comparison of your entrepreneurial desires vs. the economy, the market and the community. Take the time to reach out to your preferred customer base to consider, ask, and analyze their needs, questions and concerns. It is much easier to satisfy an existing need rather than create one and convince people to spend money on it. The first step to any successful business is research; research the current market, your competitors, the level of demand and saturation, and who and where your target audience are. Expand your inquiry beyond your specific domain to the larger industry in order to set yourself ahead of upcoming trends and innovations. As the saying goes “measure twice, cut once.” Take the time to collect your data in a specific and measurable format. This information will not only assist you in developing a business plan but support the development of you company down the road.

STEP 2. MAKE A BUSINESS PLAN BACK TO TOP
The goal is to make it as detailed and thought through as possible, so that once the work begins, your business is set on that pre-planned, professionally organized trajectory. A thorough business plan should contain the following (a) an outline of achievable goals for your business (b) how your business can meet these goals, including possible problems and solutions (c) quantifiable demand of business/service based on research and surveys (d) costs and inputs needed for the business (e) outline of strategies and timeline for short-term and long-term implementations for the company.
If you’re overwhelmed as to where to begin or what to consider, you may want to consider our General Counsel Club service. The service provides unlimited legal and business advice from an attorney over the phone. If you are currently a member, call (800) 734-9900 to get advice on having a successful business.
STEP 3. CONSIDER EFFICIENCY AND SPECIFICITY IN ALL YOU DO BACK TO TOP
Reduce expenses, losses and “busy-work” by targeting your business to the right customers in the right way. Businesses with predominant sales online aught to invest in updated servers and professionally designed websites to create a positive impression upon the customers. Businesses which rely on foot traffic should consider if they are in an ideal location for the type of customers sought. Consider in all ways where your target market is and how they would search or come across your service. Market and advertise your services through the medium your audience is most captivated by. Few businesses can grow or survive on word of mouth and referrals alone in the progressive and transitional markets of today. Technology, social media, and a professional digital media presence are a requirement for any business. Active and up-to date digital store-fronts provide customers with a sense of professionalism and security in doing business with you. Additionally, clients are offered a level of transparency and familiarity into the brand, services and current events of your business.

STEP 4. THE SECRET TO SURMOUNTING COMPETITION: CUSTOMIZATION AND INNOVATION BACK TO TOP
In a saturated and competitive market, a new business can gain notoriety and market share by customization and innovation. Customize the way you do business in comparison to your competitors in a mode that is an improvement and one of a kind. Moreover, new businesses who imitate established businesses – with their corporate funding, years of R&D and teams of specialists- will struggle to produce an equally competitive and curated product or service. Find an opening in the market by fulfilling an unmet need and innovate a new service or product that your competitors don’t have. This will give your business a reason to stand out from the rest. Innovation reduces competition!

STEP 5. STEADY GROWTH – DON’T OVER DO IT! BACK TO TOP
A thorough market analysis and detailed business plan will lay a solid foundation for a company to begin successfully. With customization and innovation companies do not necessarily need to compete with competitors but can focus on forging their own path and market share. Enormous energy and resources are devoted to beginning a company and expansion is no different. Growth exposes a business to new scopes and focuses that may not be fully understood. Planning for steady growth includes further research into untapped areas and markets of the business, building a larger team of professionals and resources, and assessing your finances. When a business expands too fast and doesn’t take care with research, strategy and planning, the financial drain of the overexerted business can sink the whole enterprise.

There’s more!

Visit AmeriLawyer’s YouTube Channel to get valuable information on starting a business, business model development, building business credit, marketing and lead generation plan.

Learn more by reading some of our Entrepreneurial Posts or Business Posts on Spiegel & Utrera, P.A.’s blog.