Skip to content

Posts from July 2015

Using Social Media As A Business Tool

Using Social Media As A Business Tool published on

As technology progresses and more people use social media as a tool for marketing, several businesses are adapting to this innovation by using social media outlets such as Twitter, Facebook and Instagram as a tool to increase brand recognition for their business. There are many effective strategies small business owners can undertake to effectively use social media and improve brand recognition for their business.

Social Media

For your business, consistency on all social media platforms is highly recommended. Using your company logo as the picture for your account and maintaining uniformity on all platforms will provide followers or users with one consistent image as it relates to your business. Additionally, in order to gain followers, it is important to identify your business’s target audience and post interesting and unique photos, articles and/or videos that your target audience can identify with. Using social media to promote special offers or giveaways will also engage users and encourage them to share some of your postings. It is important to keep your target audience engaged with your business’s postings.

Another effective strategy business owners can use is to interact with profiles of those who influence the business’s target audience. Using social media to interact and connect with users who have a large following may help in gaining exposure through the use of sharing posts or could even lead to someone with a vast following posting something about your business and/or product.

What To Do While Waiting For Lending To Improve

What To Do While Waiting For Lending To Improve published on

Small businesses feel the squeeze as banks are tightening their belts

As the economy improves, bankers are seeing a surge in credit applications. However, banks are not positioned to approve loans as quickly as they did in the past because of substantial regulatory hurdles in determining creditworthiness. Following the too-big-to-fail fiasco, much of the credit capacity has concentrated in a handful of large banks, and these banks are taking a more conservative approach. On the other hand, regional and commercial banks that are willing to lend to small businesses are left with little credit to give.

Small business strategies to offset the big-bank credit crunch

The most common alternative to bank lending is high-net-worth individuals. Lending from these individuals can be done through convertible debt or terms of credit. Convertible debt is a blend between debt and equity. It is secured through a convertible note and carries a per annum interest rate until some point in the future when it converts into equity. The conversion usually occurs during the next round of financing and is given warranty coverage or discounted based on the company’s valuation. Terms of credit are only usually given to companies with a solid track record. They come in the form of a senior secured loan with a high liquidation preference, meaning they must be repaid before all other debt or equity holders.

To better understand how convertible debt or terms of credit can help your business, speak to one of our attorneys by calling 800-743-9900 or visit our website today!

www.AmeriLawyer.com

3 Unconventional Ways To Fund New Businesses

3 Unconventional Ways To Fund New Businesses published on

There are many ways to fund a new business. Below are some methods that may not always come to mind right away.

1. Product Presales – With this method you would sell your products with the intention of raising the money that you need to fund your business. This method could also be used as a dry run for when your company is open to give you an idea of the type of customers who will be purchasing your product as well as what it takes to get the product to your client if your business is online (shipping, etc.).

2. Angel Investors – Angel investors usually will expect a 20 to 25 percent return on their money. However, the angel may have experience in the type of business, contacts, and possibly customers that could help grow your business. The angel investor provides an atmosphere that may be a great deal less intense than a regular investor. Angel investors also typically deal in smaller dollar amounts.

3. Renting your Residence – There are many websites that allow you to rent your home or apartment for days at a time or months. Potential issues that can arise would be making sure you have a place to stay during the rental time and a place to work if you usually use a home office.

Call us or visit our website today to learn more about funding your new business venture!

800-743-9900

www.AmeriLawyer.com

How Donating To A Good Cause Can Help Your Business

How Donating To A Good Cause Can Help Your Business published on

To which kind of charity should your business donate?

It is easier to create opportunity if the cause is related to your business, for example, a tutoring services company sending teachers to an under-privileged neighborhood and in turn receiving referrals. If you can’t think of any ideas, then ask your employees or customers. They may be close to certain charities and will return their gratitude when you donate. Using local charities will also help with your business’s visibility in the community.

Get involved; don’t just write a check

Hands-on, face-to-face involvement will create more goodwill than just a donation. Also, volunteering is more affordable than a large cash donation. However, don’t force employees to volunteer. Your employees should not feel stigmatized if they don’t want to help. Similarly, customers may disagree with some charities depending on the cause. If this happens, then business owners should simply say they feel strongly about the cause and leave it alone. Keep in mind that customers often want to “shop their values.”

Community

For more information about how your business can donate, speak to one of our attorneys by calling 800-743-9900 or visit our website www.AmeriLawyer.com today!  

Building In Financial Forecasts For Your Business Plan

Building In Financial Forecasts For Your Business Plan published on

To attract investors and build a line of credit you need to project business finances!

Essentially, you must make educated guesses about how much money will be spent and how much will be taken in. Then you can use these estimates to calculate whether your business will be sufficiently profitable to sustain a bottom line. Usually a business will start off operating lean until you start building a customer base. If your projections show your business losing money initially, then you must consider raising prices or cutting costs while still in the planning stage. This can help you avoid sinking money into a business that cannot be profitable. On the other hand, if your business model shows profitability, then you can start to invest more and build your enterprise.

FullSizeRender

Understanding projected financial situation through estimates and calculations.

Start off with a break-even analysis by estimating income and expenses over the first year. In theory you should be able to turn a profit by the end of the first year. If not, then you must reconsider the business model. After determining the business can turn a profit, then turn to a month-by-month projection of your business’s net profits for the first year. Keep in mind that some businesses will be more or less profitable during certain months due to seasonal turnover. Finally, determine a start-up cost estimate. These costs should be included in your business plan to give a true picture of how much money you will need to get off the ground.

To understand how financial forecasts affect your business plan, speak to one of our attorneys by calling 800-743-9900 or visit our website www.AmeriLawyer.com today!

Protect Your Business Name And Logo

Protect Your Business Name And Logo published on

With the U.S. Trademark Office receiving over 450,000 applications last year, the agency responsible for helping businesses protect their intellectual property has revamped its structure to better streamline the volume of work and more efficiently process applications. As of January 17, 2015, the Trademark Office has reduced its filing fees in hopes of saving entrepreneurs and small business owners over $5 million in trademark fees in the next year.

Fees for filing a trademark are now $275 per class of registration, down from $325. As part of the reduced fees, applicants must agree to communicate with the reviewing office via e-mail. Communication includes all responses and other specified documents that are routinely part of the trademark review and prosecution process.

The Trademark Office will also now be sending courtesy reminder notifications to trademark owners for their required renewal applications. Previously, trademark owners were responsible for keeping track of their renewals on their own. Now, owners who authorize e-mail communication will receive notifications and the option to file their renewals online. Fees for renewal applications will also be reduced from $400 to $300.

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have trademark related questions, call (800) 734-9900 or clubassist@amerilawyer.com for assistance. Remember, as a member of the  General Counsel Club, you receive unlimited legal, business, credit and tax advice all year long.

Spiegel & Utrera, P.A. is a corporate law firm with its main offices located in Miami, Florida with offices throughout the United States. As a law firm, we do more than just help you form your business entity. We stand ready to help with the maintenance of your legal business entity! We will assist you with Incorporation Service, Trademarks, Copyrights, Estate Planning, Legal Counsel, Wills,Trusts, Agreements & Leases, Corporate & Company

 

Page Footer

Document Footer