members

Tip | Use your free Flash Sessions if you have any added to your account.

Wed, 27 Dec 2023 20:35:35 GMT

Getting a professional perspective is not as easy to get as you may think and can be expensive.

Many businesses, be it small or large suffer from a wide variety of issues that limit their growth and most importantly their income. It’s common for everyone from entrepreneurs, new and existing business owners to keep their ideas, issues and planning to themselves. So much so, that can be the main reason for their business and brands becoming stale and ineffective. Membership with ENTR. gives an individual access to get Flash Sessions for their business, services or projects. These consultation sessions are intense and can shine a light on solutions that may be holding your business success back. If you have any free Flash Sessions available in your membership benefits, use them. If not, occasionally check back in the membership portal to see if any are being offered as a perk. Stay on top of what you need!

Remember! These sessions are consultations that can help connect the dots and push your growth in various areas such as:

Strategic Planning
Target Marketing
Public Relations
Sales Training
Negotiations
Promotion
Brand Development
Concept Development
Service Monetization
Event Development
Fundraising
Public Speaking

Tip By: Chance Wilson

Tip | When to shut up and when to sell.

Wed, 27 Dec 2023 20:12:20 GMT

Being aggressive with your sales can put your revenue goals through the roof.

Having a strong ability in sales is the spark that can take a business from zero revenue to millions of dollars. However, knowing when is the right time is appropriate is everything. There must be a balance from when it’s time to sell, time to listen, time to pitch and when it’s time to just meet people and be yourself. Not knowing these things can be really annoying. If you don’t know when the timing is right, you better hope your service is undeniable. If not, people will run away from you like the plague.

Tip By: Chance Wilson

Tip | When you have resources and just sit there.

Wed, 27 Dec 2023 20:09:14 GMT

You can be overloaded with resources when you’re just sitting there.

Having business resources is an essential part of business growth. So why don’t people use them? Well, one good reason is because resources typically don’t have quick outcomes. Normally, you have to increase your knowledge before anything can happen and the average person has an attention cut off unless the information is juggling in front of them and on fire. Pretty much like a small child or a jittery squirrel. It’s happens to us all as we get older and/or have a heavy workload. However, don’t let good resources sit on the shelf because just like vegetables; you may hate them, but they have the ability to make you and your business very powerful.

Tip By: Chance Wilson

Tip | I'm not getting business capital. Why?

Tue, 26 Dec 2023 15:28:20 GMT

There are reasons that may be behind your ability to obtain business financing.

Business capital is the life of a business. It doesn't matter if you are self-funded or looking for capital from a third party. Many new and preexisting owners are unsure why they may be getting blocked from obtaining third party capital. Check out a resourceful article that we found from americassbdc.org that can shine a light on the possible roadblocks between your business and getting the capital it needs to grow.

Access Article

Tip | Improving Your Business Focus

Tue, 26 Dec 2023 15:03:41 GMT

Avoid putting your business in a failing position by increasing your focus.

We all know focus is among the top reasons why businesses fail of all shapes and sizes. However, this can be widely overlooked and not taken seriously because of its simplicity. Do not fall for the trick. We found a resourceful article by actitime.com that will share 10 tips in helping you build your business focus.

Access Article

Resource | I not sure what a registered agent is? Do I need one?

Mon, 25 Dec 2023 00:07:51 GMT

I’m about to register my business with the secretary of state. Do I have to have a registered agent?

If you're forming an LLC or corporation, you’re probably going to hear the word “registered agent” when forming your company. Depending on the state in which you start your business, you're probably going to need a registered agent when registering your business with the state. Well, I guess before you can use a registered agent, you need to know what they do! They are either a person or company that is appointed to receive legal correspondence on your company's behalf, and they are able to relay important messages to you, such as notices from the government, tax information, and legal correspondence.

Research your state's laws and requirements for registered agents, but generally, your agent needs a physical address (not a post office box). Decide if you want to be your own registered agent or if you want to hire a company that specializes in this service.

Read this article to learn more: View Here!

Resource | Do I need to hire an accountant or bookkeeper for my small business?

Sat, 23 Dec 2023 18:09:12 GMT

Do I need to hire an accountant or bookkeeper for my small business?

Whether you're a sole proprietorship, LLC, corporation, or non-profit, keeping financial records is an essential part of your business. As a business owner, there are so many tasks to keep track of that hiring an accountant, bookkeeper, or both can be an essential asset to maintaining your compliance with taxes, business operations, and your company’s future growth.

Bookkeepers are good at performing day-to-day accounting tasks like collecting payments, sending invoices, preparing bank deposit statements, employee payroll, etc. Also, having an accountant or bookkeeper helps prepare financial statements to know if you are on track to reaching your financial goals and making profits or losses. Keeping up with recent changes in tax laws and maximizing tax-saving deductions saves you time to focus on running your business services instead of accounting tasks or even assisting you if your business is audited. So weighting all those factors is necessary in choosing the right accountant or bookkeeper for your business.

Read this article to learn more: View Here!

Resource | Do I need a business plan to get started with my small business?

Sat, 23 Dec 2023 18:07:25 GMT

Is having a business plan the first step to getting my business off the ground?

First, to understand how your business is going to operate, be successful, and service a need in the market, you may want to create a business plan to flush out all the pros and cons of starting your business before you invest a lot of time and money into it.

A business plan is designed to help you outline your perspective on business goals and services offered and how exactly you aim at achieving them by clearly defining your product or services, start-up expenses, employees if needed, financial objectives, growth potential, competition in the market, and marketing strategies. Business plans are also often requested when businesses are trying to obtain financing.

Read this article to learn more: View Here!

Resource | Is it really necessary to get business insurance for my LLC?

Sat, 23 Dec 2023 18:05:23 GMT

Obtaining business insurance can help protect your business from unforeseen circumstances.

As a business owner who may offer a business service, you might think I don’t need insurance; it's not necessary, but what happens if you give someone incorrect information, you have a breach of a client's information, or a client sues you for a contract agreement dispute? When thinking about obtaining insurance, you want to think of something that may go wrong within your business and wonder: How can I cover my business for the future? If you don’t have money to pay for a long court battle or equipment breaks that can affect running your business, insurance may be the way to go.

There are several types of insurance you can get for your business: general liability, business owner's policy, professional liability (errors and omissions), or even product liability insurance. To understand what type of insurance you need, you should consider things such as the type of business you operate, your estimated business revenue, employee costs, your business location, and your expenses. And of course, as your business grows every year or two years, reevaluate your insurance business needs to increase or decrease coverage or even add additional protection insurance coverage.

Read this article to learn more. View Here!

Resource | What can I do to build credit for my business?

Sat, 23 Dec 2023 18:03:52 GMT

Building your business credit can help your business continue to build and grow.

We have all heard and may have learned that having “good credit” is important when it comes to buying a home, that shiny new car you want, and getting that high credit card limit, well having and establishing business credit is just as important. As a growing business owner, at some point you may need a loan to expand your business, purchase new equipment, or invest in another business venture, and you're going to need capital to make it happen!

There are several ways to establish and maintain business credit for your company.

Read this article to learn more. View Here!

Resource | Do I really need a business checking account for my business transactions?

Sat, 23 Dec 2023 18:02:37 GMT

I started my business is having a business checking account necessary?

Is a business checking account necessary? The short answer is probably yes! Business checking accounts are an essential fundamental tool for most business operations, so you're able to separate your business’s legal entity from you as the business owner's personal affairs. Having a business checking account come tax time is going to be a crucial part of tracking your expenses.

The basic principle of a business and personal checking account may be the same: making check deposits, ACH payments, using your debit card, etc., but there are some benefits you may want to consider with having a business checking account. As such, the IRS recommends that small business owners have a separate account from their personal accounts, liability protection if their business is an LLC, and professional credibility with their clients. I mean, wouldn’t it look more professional if you told your client to make the check out to “Johnson & Son LLC" rather than make that out to me, John Johnson?

Read this article to learn more. View Here!

Resource | How do I get paid from my LLC

Sat, 23 Dec 2023 18:01:00 GMT

Can you pay yourself from your LLC?

Most business owners, I would probably assume, are in business to do something they love while making money from their business. The benefit of running a business for yourself is being able to pay yourself, whether it’s a little extra cash or a yearly salary.

There are several ways to pay yourself from your LLC business. You can pay yourself as a W-2 employee, you can take an owner’s draw, or maybe even as a 1099 independent contractor. You can even hire a payroll service company to distribute a pay check to you and deduct FICA, Medicare, and Social Security taxes. The options are up to you, and of course, consult with your accountant.

Read this article to learn more. View Here!

Resource | What exactly is a DBA and should my business have one?

Sat, 23 Dec 2023 17:59:32 GMT

Is using an assumed name something you should consider for your business?

You may have heard of the term DBA but never understood what it means! It stands for 'Doing Business As’. This designation is considered a fictitious, assumed, or trade name used for your business. Some businesses establish DBA names for marketing purposes. If you want to use a DBA name for your business, you are required to register this name with your state, county, or city. There are advantages and disadvantages to using a DBA, so you have to be selective in choosing your name.

Read this article to learn more. View Here!

Resource | What items can I deduct through my business?

Sat, 23 Dec 2023 17:57:57 GMT

What items can I deduct through my business?

At the end of the day, who doesn’t want to save money on taxes at the end of the year? Well, of course, you need to work with your accountant to verify, but wouldn’t it be great to know what items are tax-deductible for your small business? Some common items you may be eligible to deduct include business supplies, startup expenses like obtaining licenses and permits, and more. Click the link to learn more about deductions you may be eligible to deduct for your business.

Always maintain detailed financial records, as tax laws can be complex. Also, staying organized throughout the year can help make tax season a lot easier for you. Learning how to track deductions can assist you in keeping more money within your business.

Read this article to learn more. View Here!

What is an EIN number and why do I need a separate number from my SSN?

Sat, 23 Dec 2023 17:55:38 GMT

What's an EIN and where do I get one?

When starting a business, it’s important to keep your business tax information, banking and accounting, and credit separate from your personal endeavors. Think of them as two totally unique individual entities that have to operate on their own. That being said, your SSN (Social Security Number) is used for your personal life, and your EIN (Employer Identification Number) is used for your business.

Obtaining your free EIN from the IRS can be completed online and normally received the same day. Once you have your number, you can open a business account with the bank, apply for a business credit card or business loan, use it for your business license and permits, and more without exposing your personal SSN.

Read this article to learn more. View Here!

Resource | An unexpected venue that you can conduct business functions

support@binchmark.co (Support Team) — Wed, 20 Dec 2023 20:57:08 GMT

You may not be aware of their venue space, but consider Dave & Buster's for your next event.

ENTR. and ENTR. Members have hosted a variety of special events utilizing the event space found at Dave & Buster's . We found the event space to be more then sufficient for our event needs. The venue provided a professional staff and atmosphere that was enjoyed by our event attendees and of course added an element of fun when the event was over.

Contact them today and tell them ENTR. sent you. Here is there website: View Now

Resource | Understanding how to use The HIVE, a City of Virginia Beach business resource

Wed, 20 Dec 2023 17:09:48 GMT

This is a real hidden treasure that has been attracting new and preexisting business owners from across the state of Virginia for its resources.

The HIVE is part of the City of Virginia Beach Economic Development.

The HIVE is perfect for:

- Companies in the infancy through
maturity phase of their business

- New entrants into the Virginia Beach
business community

- International businesses new to the
U.S. and/or the City

- Individuals looking to expand their skill
with continuing education opportunities

- Existing businesses wanting to grow
and expand

ENTR. is resource partner of The HIVE alongside other entities such as:

- Virginia Department of Small Business
& Supplier Diversity agency (SBSD)

- Women's Business Center (WBC) at
Old Dominion University (ODU)

- Hampton Roads Workforce Council

- Hampton Roads Small Business
Development Center

- Veterans Business Outreach
Centers (VBOC)

- Virginia Beach City Public Schools -
Entrepreneurship and Business Academy

- Virginia PTAC

- Urban League of Hampton Roads

- Educational support at VWU and TCC

- Legal partners: Poole Brooke Plumlee PC

- Banking partners: Fulton Bank, Langley
Federal Credit Union

- Business Development Center at ODU

- SCORE - Hampton Roads Chapter

- Virginia Beach Public Library

The HIVE offers:
- Business start upIndustry-related
certifications
- Business plan development
- Grant and loan application assistance
- Guidance and connections for financing
- Hiring, training and managing staffCity
permitting and processes
- Vocational education
- Zoning-related questions

For more information about The Hive, Click Here

Resource | Forming a Limited Liability Corporation with this online service.

Tue, 19 Dec 2023 13:20:56 GMT

For those that was want assistance for this process. Consider this option...

Consider checking out the service called Ink Authority. The mention being the fastest and easiest way to set up a corporation if you’re looking for a service to help you verses doing it yourself. This service has over a 4-star rating and 29,000+ reviews on Trust Pilot. The website is: www.incauthority.com

Research all the services they offer and for their pricing as it may have changed. Here is a video on the company and its services: View Now