Once upon a time there lived a king who carried the burden of raising funds for his business. He sought the advice of investors, and urged his circle of subjects to contribute to his business. Yet, no one was eager to bestow such a gift. Then from the dark ages emerged the almighty internet, which allowed the king to reach across the vast kingdom and solicit funds from a plethora of subjects through crowdfunding.

Crowdfunding is a method of raising capital via social media and crowdfunding platforms. Crowdfunding platforms such as Kickstarter, Indiegogo, and RocketHub, allows you to create a fundraising campaign for your business and safely request donations from thousands of investors. This centralize method allows you to streamline your fundraising efforts in one location and eliminates the need to pursue each investor individually. But beware, the money you earn must be used to fund your campaign or you risk being dethroned and ruled by the Federal Trade Commission (“FTC”).

The FTC took legal action against the deceptive tactics of a project creator who raised money to produce a board game through a Kickstarter campaign. The project creator promised his investors great rewards upon completion of his board game, and raised more than $12,000.00 from hopeful investors. But instead of bestowing such gifts of gratitude as promised, the project creator spent most of the money on rent moving to Oregon, personal equipment, and licenses for different projects. In the end the project creator agreed to a settlement that prohibits him from deceptive representations related to any crowdfunding campaigns in the future and requires to honor any stated refund policy. While crowdfunding may be a great way to fund your empire, if you abuse such platforms, you may be the subject of a FTC beheading.

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have business 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

All businesses start with a great idea, but a business needs the right funding to truly launch a business venture. However, obtaining the right kind of funding is an obstacle in itself for many small business owners. Some of the more popular funding options for entrepreneurs include:

1. Self-Financing
2. Friends and Family
3. Credit Cards
4. Bank Loans
5. Business/trade credit
6. Venture capitalists and angel investors

Another alternative form of funding is the Small Business Administration (SBA) loan program. The SBA offers several types of loans including the SBA 7(a) Loan, the SBA 504 Loan, and the MicroLoan Program.

SBA 7(a) Loan. The 7(a) loan is the SBA’s most common loan program. This loan is for both start-ups and existing businesses who use the money to finance purchase of real estate, equipment, furniture, inventory, cover accounts payable, and other short-term working capital needs. The loan amount can be up to $2 million. The length of the loan is up to 25 years maximum for real estate or seven years maximum for working capital.

SBA 504 Loan. The 504 term loan finances long-term fixed assets and is a zero subsidy program. Additionally, this loan typically is applied toward investments in real estate assets and machinery. The loan amount can be up to $1 million for general purposes or up to $1.3 million for public policy goals. The length of the loan is 10 to 20 years.

MicroLoan Program. This loan is specifically for start-ups that couldn’t obtain other means of funding due to poor credit and lack of assets. The MicroLoan typically goes to small businesses with five employees or fewer. The loan amount can be up to $35,000 and the length of the loan is a maximum of six years.

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have business 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

The U.S. Small Business Administration has implemented the 8(a) Business Development Program, which provides business assistance to small disadvantaged firms/businesses that are 1) At least 51% owned and controlled by individuals belonging to a social minority group and 2) businesses that can prove economic disadvantage in their ability to compete in their industry.

The goal of the SBA’s 8(a) Business Development Program is to help socially and economically disadvantaged entrepreneurs gain access to the economic mainstream of American society. Some of the benefits of the program involve receiving sole-source contracts of up to $4 million for goods and services and $6.5 million for manufacturing. The Program provides managerial, technical and contractual assistance to ready you and your business for success in the private industry.

Please note that the SBA also provides special certifications for Service-Disabled Veteran-Owned Businesses as well as Women-Owned Businesses, which includes the benefit of obtaining federal contracts for eligible women-owned small business.

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and interested in obtaining  a Minority-Owned Business Certification, 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

How much business do you lose as a result of poor sales and customer service skills? If all your management, employees, and sales force work on some simple techniques, the returns in sales and customer satisfaction will amaze you!

FOCUSING ON THE CLIENT: A successful business must take the wants and needs of its clients into consideration. If you are able to listen and tailor the way you present your services or products to match each client’s individual needs or wants, it will result in a much more powerful and successful sales strategy than simply delivering a general, all-purpose pitch about a particular service or product that you are offering. Your message should highlight exactly how that particular service or product fits and suits this unique client. Personalize and focus on them.

1. Remember to accentuate the benefits, emphasize the points where you have a competitive advantage and the benefits the services or your products offer the customer.

2. At the same time, remember the more you know about your products or services and what they will do for the customer, the more likely you can prove to them its a valuable item for them.

DEALING WITH OBJECTIONS: Good customer services and sales skills require that you anticipate and deal with any reason the client may choose to challenge or not buy the particular service or product. Try to anticipate what the objections might be and have a response for those objections ready; you will be surprised at the results.

Also, a “no” today may very well mean a “yes” tomorrow. Often, when presented with new concepts and options, the customer will not be ready to make the decision at that time. You go over the products or services, the benefits, what the services and products can do for the customer, and you will be surprised as to how you may very well receive a telephone call in the near future to take advantage of your previous offer.

If you are focusing on the customer, you know your products or services, deal with the decision maker and deal with any possible objections, you stand a great chance of being successful in your efforts.

If your client believe that you are working with their best interest at heart as well as your own, they are more likely to be honest about what they view as their alternatives, and more able to listen to what you have to say. This will, overall, make for a more positive business relationship environment and assist you in developing good business working relationships.

If you are a member of Spiegel & Utrera, P.A.’s General Counsel Club and have business 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