Every business has to start somewhere.

What’s interesting is that with all of the doom and gloom news of layoffs by large conglomerates, there actually is a silver lining in this dark cloud. And that’s the creation of many small businesses. While skilled individuals are getting beaten down and told that they’re not part of some corporate family anymore, they have to drag themselves out of that depression. If not just to put food on the table for their own families.

It’s more risk, but also a necessary economic move. People cannot just depend on the government nor can they just disappear because they have no jobs. So with that comes the creation of consultancies and other small businesses. And by law in the United States, every business must account for their financials. Be it through small business accounting or other means.

So if your life has been affected by a layoff, it’s okay to stop and fuss over it for a little while. But pick yourself up and look around. Perhaps it’s time for you to seek out owning your own business.

I’ve noticed something that is of interest to probably most small business owners. And that’s where you don’t get much of the one-stop shop anymore. Starting back in the 1990s, there were many tools on the Internet that tried to be the all-in-one from web design portals to content systems. By and by, you found that tools started to go back to a single use-single function point of view.

Which don’t get me wrong, that’s a great thing. But having owned several small businesses, I can say that the outside of open-source where you couldn’t complain about the price, those that you paid for were mediocre at best. The reasoning was that while the function that it served was perhaps the best in its field, the subscription models added up. As you pushed your business growth, you add more and more products together and thereby making it less affordable to run your business due to a subscription for this, and a subscription for that, for all of them to interact together.

Fortunately, we heard that call too. Why should a business look at their accounting broken up into pieces? Financials should be kept under one roof and provided for in one arena. And that’s what we strive to do for our small business clientele. Don’t forget that I definitely have felt your pains. It’s not easy and you have to count every single penny to make your business fly. So let us be your one stop shop and help you soar.

Photo Credit: (sylvar)

Most SMBs are usually just looking to get off the ground.

Incorporated? Check.
Bank account? Check.
Customers? Check.

But as you get started, and even as you move forward, you’ll want to cut a few of the corners to help make your dream of owning a business come true. And that’s where optimizing your workflow can become crucial. Anywhere that you don’t have to spend much time in learning the ins and outs of the tools but can use right out of the gate can help increase your efficiency. And increased efficiency means that you’ll be able to do more work, and hopefully bring in more cash.

In that sense, you have to pick the right tools. And with small business accounting, you can’t afford to go wrong. Don’t forget that you’re the one that’s running the business and you don’t have the luxury of sitting down in a class trying to figure out how to make your software work for you. As professionals, that’s what we’re here to do and to help with while you’re running your business. The goals are to maximize your time so you can concentrate on what you care about most: how to make your business more profitable.

And we’re here to help push that dream forward.

The new and improved? Most definitely.

In fact, there’s so much to talk about, that it would just be easier for you to run over to Merchant’s Mirror and take a looksie. If you have questions, feel free! That’s what we’re here for. We’re extremely happy with the progress that we’ve made and we believe whole-heartedly that you will too.

Like so many, I was laid-off last year and started freelancing while looking for a job, but unexpectedly, I was getting so much work that I decided to start my own business and became an LLC (Limited Liability Corporation).

Now nearly every week, someone asks me one of these questions: “How did you start your business?” “What steps do I need to take?” “How do I get an EIN number?”

Launching your own business can be one of the most exciting and rewarding things you’ll ever do. It certainly has been for me. Of course, it does take some serious thought and planning.

So, here are some key steps (the way I see it) to take your business idea from fantasy to reality:

• Brainstorm your idea. First, make sure that you’re truly excited about your business idea. I believe deeply in this. The more passionate you are about your company, the more likely you are to succeed. Next, do your homework. Is there a growing need for the product or service you want to sell? How can you set yourself apart from the competition?

• Protect your idea. Have you come up with a great new name for your company? A revolutionary idea for a unique product that will change people’s lives? First, pat yourself on the back. Then, visit the U.S. Patent Office to register—and protect—your idea.

• Choose your business structure. Will you be a sole proprietor? Form a partnership with a friend or colleague? Create a corporation or limited liability company? Investigate your options.

• Get an employer identification number (EIN). This unique number—also known as a Federal Tax Identification Number—will be used by the IRS to identify your business. If you’re a sole proprietor, your social security number may suffice. Take this short quiz to determine whether you need to apply for an EIN.

• Open a business checking account. You’ll need to show proof that you own a business, so check with your bank to see what paperwork they require.

• Create a business plan. You need a roadmap to get to your destination, so don’t skip this important step. A business plan details your business idea, your target market, your team, key milestones, how much money you’ll need, and more. Not sure how to start? Watch the Small Business Administration’s 30-minute business plan webinar.

• Secure funding. Funding options range from personal savings or money borrowed from friends and relatives, to bank loans and venture capitalist funding. Fully investigate your options.

• Market your product or service. If you have a big budget, there are endless marketing options available, from billboards to television advertising. But even small startups can gain visibility, thanks to the Internet, which is leveling the playing field. Building your website is key, but bolstering that with a presence on social networking sites—such as Facebook, Twitter, and LinkedIn—can generate even more buzz.

• Accounting Software. And, of course, [ =) ] you’ll need an accounting system software to help you keep track of your expenses.

Lastly, I would like to recommend everyone thinking about starting a business to go see the great people at SCORE (Service Corps of Retired Executives). They have been a tremendous support. They offer free business coaching, and they have local offices all over the United States!