10 Awesome Up-And-Coming Companies To Work For
For me, one of the most important aspects of an awesome job is the potential for upward mobility — both for myself and the company as a whole. I want to know that my employer is as passionate about their success as I am about mine.
Landing a job at a relatively small, up-and-coming company can lead to really exciting career prospects and allow for greater interaction with high-level management. The following companies are all exhibiting signs of rapid growth in the near future, making them excellent places to get in on the ground floor!
10 Side-Hustle Ideas For Millennials
Millennials, more than any previous generation, are frequently job-hopping and opting for multiple part-time gigs over full-time careers -- in fact, I’m doing so myself! This lifestyle definitely involves some financial ebb and flow, but the ability to diversify your life and seek career fulfillment makes it all worthwhile. In addition, starting a side-hustle can be a great way to set aside money for launching your own business. Who knows, your side job may even grow to the point of becoming your full-time career! That said, if you find yourself strapped for cash, there are tons of ways to monetize skills or assets you already have at your disposal. In this article, we’ll dive into our top 10 recommended side-hustles for millennials to help you figure out the best way to supplement your income!
13 Ways Startups Are Influencing Corporate Culture
The modern workplace is adopting more elements of startup culture each day. From greater interaction with upper management to more casual communication styles, it’s impossible to ignore that startup culture has been steadily infiltrating the corporate landscape.
When people hear the phrase “startup culture,” they typically picture casual clothing and ping-pong tables — but in reality, the phrase encapsulates much more than that. In this article, we’ll go over 13 specific ways startups are influencing today’s workplace!
7 Solid Reasons To Write A Business Plan
(And How To Get Started)
The term “business plan” is used a lot like sugar-- it can make anything sound tastier. "Strategy" is also so overused and over-marketed that it’s become hard to nail down a useful definition.
Strategy, in this context, refers to the what-to-do and how-to-do-it of achieving your business goals. And while using the lingo is one thing, actually doing the planning and strategizing is another. Many startups today suffer because their plan isn’t clear or thorough enough to guide the business. Instead their team’s too busy creating products, rallying troops and hunting for clients-- and creating a winning strategy sounds like a lot of fluff when there’s “real” work to be done, right?
Without a clear strategy even the savviest solopreneur gets tossed around and distracted from what really leads to success. That said, let’s get to what you clicked for – brain food & actionable steps. Here are seven reasons to write a business plan and some guidance on getting started. Enjoy!
A Comprehensive Guide To Content Marketing (Tips, Tricks & Resources)
Content marketing is on the rise—no doubt about that. Yet somehow, despite the increasing number of brands that understand the premise, very few startups actually know how to implement a content marketing strategy.
In this guide we’re going to dig into the basics of content marketing to get you started on solid ground!
Advantages And Disadvantages Of Forming An LLC
If you’re looking to form an LLC, you should know that there are plenty of points to be made both for and against the limited liability company as a business structure, depending on your priorities. In this article, we’ll discuss some of the pros and cons of forming an LLC to help you decide whether or not it’s the right business structure for you.
B2B Marketing 101 Everything You Need To Know
Effective business-based marketing takes time to master, but you’ve come to the right place to start! We’re here to to walk you through the three most important methods of B2B marketing: inbound, social media and content marketing.
By the time you’re done reading through this guide you’ll be well on your way. Enjoy!
Bookkeeping 101: Everything You Need To Know
Most entrepreneurs hate the idea of bookkeeping. In fact, TD Bank surveyed over 500 small-biz owners to find out what they liked least about running their own businesses, and bookkeeping won, hands-down.
However with the help of modern software and a knowledgeable professional it doesn't have to be all that bad. In this article we'll cover some bookkeeping-basics and give you the information you need to keep your brand in tip-top shape. Enjoy!
Business Casual In The Modern Workplace
We hear the phrase “business casual” all the time, but many people struggle with what that really means. I myself have wasted too much time trying to figure out if I’m appropriately dressed for professional occasions, so I figured I’d do the research to help you avoid that same issue.
In short, business casual is a form of office-appropriate dress without the formality of the traditional suit and tie. In this guide, I’ll discuss what business casual looks like for men and women, and share some information about how business casual is changing in the modern business landscape.
Business Credit Cards: Everything You Need To Know
Considering a business credit card for your shiny new company? Well, you’re on the right track. Statistics show that 65% of small businesses use credit cards on a regular basis, but less than 50% of those cards are in the business’s name.
There are a number of reasons to why using a business credit card instead of a personal credit card is a better approach to your business expenses. That said, let’s go over what you need to know!
Can My Accountant Be My Registered Agent?
If you’re starting your own business, whether it’s a limited liability company (LLC) or a corporation, you’ll need to designate a registered agent. With a registered agent, your state government knows that there’s a reliable way to contact an official representative of your business, which is especially important if your business is sued.
If you already have an accountant for your business, you may be wondering if he or she can be designated as your registered agent as well. The short answer is yes, but it's important to review the pros and cons of doing so before making your final decision.
Can You Be Your Own Registered Agent?
Many entrepreneurs consider serving as their own registered agent. While this can save you some money over hiring a professional service, there are a number of factors to consider before making the decision.
Commercial Insurance For Home-Based Businesses
With the rise of the internet making telecommuting easier than ever, we’re currently in the midst of a home-based business boom. More and more entrepreneurs are choosing to start their new businesses in the comfort of their own homes, not only because it’s convenient, but also because it’s a way to save a tremendous amount of money in the startup phase, when every business is always pinching pennies.
Possibly because of this increasing popularity, we encounter more confusion among entrepreneurs than ever before when it comes to the issue of acquiring commercial insurance for a home-based business. While your typical homeowners or renters policy does have some protections for your home-based business assets, it seems that too many entrepreneurs severely overestimate the level of protection this provides.
In this article, we’ll address these common misconceptions about commercial insurance for home-based businesses and many more. Who really needs insurance for their home-based businesses? Which kinds of insurance do they need? And how much will it cost? Read on to discover the answers to these questions.
Corporation Vs LLC Comparison:
Which Is Better For You?
If you are starting your own company or looking to turn an existing sole proprietorship or general partnership to a business structure that offers personal asset protection, you’ve likely come across both corporations and limited liability companies (LLCs) as two excellent options.
The corporation is America’s oldest and most trusted business structure, and it’s a great fit for a wide variety of business types. The LLC is a more recent development on the American business landscape, but it’s become highly popular over the years because of its flexible format and user-friendly attributes.
It’s important to understand the specifics of each of these structures before determining which one is best for you particular business.
Dealing With Imposter Syndrome As A Millennial
As millennials, we all want to accomplish something important and make a real difference in the world. We all want to become wildly successful. We all want to be remembered for our achievements. Right?
But wait -- if that’s the case, why is it that oftentimes the closer we get to our goals, the more discomfort we experience? Why is it that for many of us, our accomplishments are accompanied by the sinking feeling that we don’t deserve them?
Decide & Change: The Two Essential Risks For Ultimate Success
Risk is everywhere, and while common sense and many business consultants tell you to minimize risk, I suggest the opposite. I maintain that embracing what I call the “two essential risks” is necessary to achieve your ultimate success in business.
Sure, you hope to avoid liability, investment, and market risks as you pursue your entrepreneurial dream, so you take steps to mitigate exposure. But an entrepreneur or business leader must embrace and leverage these two essential risks to achieve ultimate success:
1) Decide: Choose a direction and jump.
2) Change: Make both internal adjustments and external innovations to keep going and growing.
With all the potential risks present in business, how could I narrow it down to two essential risks? In my thirty years of experience, I recognized that successful businesses were always moving forward. As the business environment changed, they adapted.
As the competitive landscape became more intense, they decided to meet the challenges head-on rather than defer making a move until later.
Successful leaders have the courage to make decisions and to welcome change. So it was obvious that these two essential risks were necessary to maintain the forward motion for long-term entrepreneurial success. Here is a detailed look at why these two essential risks provide you with an unexpected edge.
The Traits It Takes To Succeed
Here at Startup Savant, entrepreneurs are our specialty. We know what traits an entrepreneur needs to succeed, and we’ll let you in on a secret: everyone has them. Most people just need to spend time nurturing these traits in order to be successful—and yes, it’ll probably take some trial and error to find out where you’re lacking.
In this guides we’re going to dig into the ideal entrepreneur anatomy! We’ll cover the major characteristics you need, some ways to gain authority and deal with failure, and much more.
Entrepreneurs And Failure: A Symbiotic Relationship?
One statistic I always find sobering is the fact 90% of start-ups fail within the first five years.
When I put this fact to Pete Bailey, the co-founder of Fail Forward, and asked whether such stats prevent people from starting a business, he didn’t hesitate in his reply: “100%.”
Hope Is A Deceptive Reality That Can Trap The Most Savvy Entrepreneur
I hope. Two words that seemingly evoke a vision of a glorious future filled with certainty and success. Heck, the word hope was the lynch pin concept that an entire presidential campaign was built upon. Yet basing ones entrepreneurial quest on such a hollow concept will not yield the desired results, success. Hope, in the rough and tumble world of business, is a false reality. In the real business community, success can only come to those who DO through execution rather than hope for success.
How I Discovered Entrepreneurship Within
I migrated with two pieces of luggage to the United States after graduating from college in Southeast Asia. The destination was the sunny San Diego with its famous Coronado Hotel and The Sea World. I was as sunny as this sunny and vibrant city.
For those who have read about this, please bear with me a little. I’ve told this story so many times that I lost count. I haven’t, however, told anyone how I discovered entrepreneurship within myself after experiencing an excruciating period as a new immigrant in California.
Despite San Diego’s sunshine and beautiful beaches, I experienced clinical depression. I went to countless of therapy sessions, contemplated on the true meaning of life, dropped out from graduate school (which I eventually finished in San Francisco Bay Area, but it’s another story) and, eventually, found a new me. An entrepreneurial me.
How Is An LLC Taxed?
So you’ve decided to form a new limited liability company (LLC), and you want to make sure you understand how they’re taxed — or, you already started your business and you’re scrambling to play catch-up. Either way, I’m here to help you understand your options well enough to make an informed decision for your LLC.
One of the most popular reasons to form an LLC in the first place is to take advantage of the structure’s “pass-through” taxation model, but what does that even mean? And is it the right form of taxation for your unique LLC? Read on to find out.
How To Balance A Full Time Job While Starting A Business
Perhaps you dream of running your own business one day. Maybe you already have an idea and you want to get going, but you’re just not sure where to find the time. You do, after all, already work a full time job and maybe even have a family. Does this sound familiar?
How To Balance School While Starting A Business: 5 Solid Tips
There are many students who want to start their business early on; however, they are prevented by the fact that they’re still in school.
Funding, resources and time are just some of the biggest issues that an entrepreneur in school has, but if you look closely, you can actually create multiple ways to find a balance between school and business.
How To Be A Great Leader When Starting A Business
Now that you’ve built your star-studded team, it’s time to figure out what you can do to lead them to victory! I hate to break it to you, but ultimately your leadership will determine the fate of your business.
Luckily, you’ve come to the right place to find out how to be the best leader you can be for your team. So let's get to it!
How To Build A Brand (The Right Way) For Your Business
When you think about branding, I'm not sure what comes to mind. For many years, I thought branding was one of those "corporate" marketing concepts that had nothing to do with my small business.
And I was wrong. Branding is absolutely essential. If you're a business owner, you are your brand. Everything you do and everything you say, connects to that brand. Both good and bad - even if you just made recently registered with the state.
How To Build A Successful Startup In A Saturated Market
What was a successful business before it was, well, a successful business? Everything has to start somewhere, and the thriving companies of today are no different. While there are as many pathways to success as there are successful (and unsuccessful) businesses, there are a number of key pillars, mantras, and checkpoints that most (if not all) successful brands have in common.
How To Choose A Registered Agent
When nominating a registered agent for your LLC or corporation, there are two common choices: either serve as your own agent or hire a professional registered agent service.
How To Create A Successful Kickstarter Campaign
Do you have a great idea for a creative project, but lack the funds to make it happen?
Whether you’re a programmer with a genius tech concept, or an artist looking to put your life’s work into print, Kickstarter could be the perfect fit for you. With Kickstarter, you can crowdsource funding from backers around the world, allowing you to achieve your dreams without generating all of the seed money yourself.
How To Deal With Stressful Clients 101
Sure, you adore your clients, but they can be a tremendous source of stress. Difficult customers eat up tons of time without much return, and can turn your company inside-out if you aren’t prepared.
A couple of our contributing authors/specialists put together this action plan to help you get through the thick of it and navigate those tense situations with a bit more ease. In time, your business plan will naturally evolve to include dealing with stressors -- but for now, this is a great place to start. Enjoy!
How To Double Your Sales In One Year Without Spending A Cent On Marketing
As entrepreneurs we are often attracted to the newest, latest and greatest ideas for everything, not just as part of our own businesses and this often includes our marketing. We may fall in love with new trends like content marketing, Facebook ads, podcasting or viral videos to promote sales growth.
In reality, however, sometimes the old tried and true techniques can often work just as well, or better, and cost less. Slack, an online communications company, grew at 5% per week for over 70 weeks using this exact same idea. In fact, they grew 33X in one year! While you probably won’t get to that pace, you can double your sales if you apply these same ideas. And customers are willing to switch brands and even spend more if they think they are getting better service. Or in other words, better service pays better.
How To Estimate Startup Expenses
& Stay On Budget
Being aware of your startup expenses is super important while you're building your new brand, but getting an accurate estimation can be tricky. You can’t estimate every single expense you’re going to have. That said, it’s still necessary for you to do your research and make well-educated assumptions—and plan accordingly.
How To Generate Revenue From Non-Sales Web Leads
Not all website inquiries are sales leads. Most newly registered companies focus all of their attention on isolating the best sales leads and following up on them with everything they have.
While this is good, better still is to supplement that effort by reviewing all of those non-leads and turning them into leads!
How To Get The Perfect Logo For Your New Business
A logo isn’t just a random symbol— it’s a way of visually encapsulating the essence of your brand. Your logo actually has a significant stake in producing emotional connection and brand loyalty in your customers.
Color plays a massive role in how a logo is received by consumers, so choosing the right color is as important as choosing a good design. Have you ever noticed the peaceful feeling you get when you walk into a room painted green, or how yellow can make you a little hyper? Different colors are linked with different emotions, and knowing how to leverage them will help tremendously in the marketing of your newly established brand.
How To Hire Employees
(The Right Way)
Along the road to business success, you’ll come upon the realization that you can't do everything on your own. It’s come time to hire some trustworthy employees to share the weight and help you expand!
How To Lead Millennials - The Comprehensive Guide
Although millennials have become the most populous demographic in the American workplace, there’s still some uncertainty around how to best leverage their unique skills and characteristics in a professional setting. It’s no secret that millennials were raised differently than any previous generation, but it’s a lesser-known fact that they need to be led differently, too.
How To Market A New Business
The Definitive Guide
All startups are as unique as their founders-- there’s no one-size-fits-all marketing approach. However, there are definitely some things every business owner should be aware of before they jump into their marketing journey.
With the help of some of the best marketers we know, we've developed this 6-step guide to help you start marketing your business the right way! We'll give you some solid tips and tools for your marketing plan, budget, and customer acquisition, and eliminate some common marketing myths. Speaking of which, let’s start there!
How To Name A Corporation
When you’re starting a new corporation, one of the most important considerations is what to name your company. While this may seem like the easy part, there are legal and practical elements to take into account before settling on the perfect name for your corporation.
How To Name An LLC
Everything You Need To Consider
If you’re starting a new limited liability company (LLC), you’ve likely at least begun thinking about a name for your business. All too often, entrepreneurs don’t spend enough quality time considering options for their business name. Many become attached to one idea, only to discover it’s not available for use. They are then forced to choose a new idea at the last minute, without enough time to find something truly meaningful and effective.
How To Pick The Right Business Domain Name
One of the most important steps when starting a new business is to choose the ideal domain name.
Your name needs to be memorable, brief, and gives users a good idea of what exactly your company does. However, this can sometimes be much more difficult than it sounds. Read on as we cover some tips and tricks — as well as plenty of misconceptions — about domain names.
How To Separate Your Personal Assets From Your LLC
If you’re starting your own limited liability company (LLC), one of your main reasons for doing so is likely the LLC’s ability to provide personal asset protection. Much like a corporation in this way, an LLC shields your own personal property and money from creditors in the case of a lawsuit filed against your company.
How To Shop For Business Insurance
If you’re a business owner, we probably don’t need to tell you that acquiring insurance can be an extremely stressful situation. Sometimes it’s hard to tell which types of coverage your business even needs, not to mention how much coverage to acquire or where to purchase it. In short, it’s really hard to figure out how exactly you’re supposed to shop for business insurance.
How To Stay Motivated & Inspired While Starting A Business
Maintaining your motivation, inspiration, and to be honest, your sanity, are among the hardest parts of starting a new business. Once the grind sets in, day-to-day challenges will become the new norm, but for now sustainable inspiration might seem unattainable.
How To Write A One Page Business Plan: The Simple Guide
Planning your business is important. Actually, it’s critical. Yogi Berra once said, "If you don’t know where you are going, you’ll end up someplace else."
To avoid ending up somewhere else, you’ve got to plan for success when starting your business. The interesting thing is that contrary to popular belief, there are multiple ways you can plan your business.
But in this guide we’re going to talk about how to write a business plan in the most simple and highly effective options we recommend you look into.
Important & Overlooked: SaaS Startup Retention
When a SaaS startup is founded, the team is typically concerned about two things: product development and sales. Money is raised and poured into these two initiatives—any why wouldn’t it be? You can’t sell without a product and you can’t stay alive without revenue. But even the most well-run startups overlook a crucial piece of the puzzle—retention.
Incorporating In Wyoming: Sometimes Money Saver, Sometimes Waste Of Time
Wyoming has during past years been established as the most easiest and cheapest state to incorporate, whether you choose a C Corporation or LLC. Whole company-making process will probably take under one week. Wyoming is trying to make doing business attractive for entrepreneurs in all regards.
But even when we would like to establish our company in Wyoming, we can't always take full advantage of that. Let’s look at Wyoming closer, focusing on LLC and C Corporations.
Leadership For Startups: The Definitive Guide
There are many difficult tasks along the road to becoming a successful entrepreneur, and figuring out how to be an effective leader is one of them. While leadership skills come naturally to many folks, leading a startup is a whole different game. In this article, we’ll go over a few essential things to keep in mind as a startup leader!
LLC Annual Reports:
If you’ve just completed the formation process to start your new limited liability company, there is reason to celebrate. However, it’s important to remember that after the initial paperwork is filed, most states will require some ongoing reporting to maintain your LLC status.
While there is some variation from state to state, in most locations you will need to file an annual report that keeps your state government updated on a few crucial aspects of your business. This article will help you determine whether you need to file an annual report, how to file it, and how much it will cost.
LLC Management 101:
If you’re starting a new limited liability company (LLC), you’ll need to decide if you want your company to be managed by its members, or a designated manager. There are objective pros and cons to each option, and depending on your LLC’s unique characteristics, one or the other will align more closer with your goals.
LLC Vs Corporation
If you’re looking to form a new company in the United States, you may be wondering which business type is the right choice for you. Limited liability companies (LLCs) and corporations are both very popular business structures, and while there are some similarities between them, there are also quite a few differences that set them apart.
Depending on your company’s unique needs, one of these business types may be considerably better suited to your situation. Read on to determine which one is the best fit for your business.
LLC Vs Sole Proprietor
If you are starting a new one-person business you may be wondering whether you should classify your business as a single-member limited liability company (LLC) or as a sole proprietorship. There are several advantages and disadvantages to each option, and depending on what your plans are for the company, one or the other may be a significantly better option for you.
This guide will look at the pros and cons of a single-member LLC and a sole proprietorship and help you determine which option is right for you and your business.
Marketing For Startups: Can Marketing Replace Sales?
A few days ago, I was sitting in a coffee shop talking to a founder of The Commons, an amazing Milwaukee organization that accepts students from 23 area universities, has them work on real-world projects and teaches them to be entrepreneurs. There is no shortage of mentors to work with these students, except in one area: marketing.
Marketing For Startups: Targeted Lead Generation Vs. Awareness Marketing
Everyone wants to know the ROI of marketing…from new business owners to marketers themselves. In my mind, there are two kinds of marketing: marketing that generates leads, and marketing that doesn’t. The latter isn’t bad; it’s a necessary part of marketing strategy at most companies. But today, I’m arguing that marketing that doesn’t generate leads has no place in a startup.
I know what you’re thinking—it’s a strong position to take, and you’re right. But hear me out:
Social Media Guide 101:
In today’s marketplace, completely ignoring social media simply isn’t an option. Why? Because everyone is online—including your competition.
Some brand new businesses are hesitant to invest time and money in social media marketing because they realize it’s a major commitment, while others go about it totally wrong, not realizing the importance of the endeavor.
The 10 Most Overrated Cities For Startups
There are many reasons why a city may be a mediocre location for startups. Some are oversaturated with startup activity, while others are simply too expensive. Some don’t provide enough educated labor, while others have problematic taxation laws.
Below we’ll discuss the 10 most overrated cities for startups based on the factors above and many more. While these cities might be a decent spot for some startups, they’ll pose major disadvantages for most. Let’s dig in!
The 11 Best Cities For Startups
Most discussions of great startup locations center around the same few cities, like Seattle, New York, Toronto and the Bay Area. However, these locations have grown in popularity to the point that the markets are overcrowded and costs are sky-high.
Luckily, there are plenty of other cities that are able to support the startup lifestyle. Let’s take a look at some up-and-coming startup cultures popping up across the country!
The 7 BIGGEST Business Plan Mistakes To Avoid
You're here to learn about common business plan mistakes so you can avoid them and increase the odds of knocking your plan out of the park. For you, right now a better plan might mean improving your management skills, fostering better collaboration within your team, or perhaps to gain access to funding.
Regardless, may this content be a catalyst for your next amazing growth period. Let's dig in.
The Momtrepreneur: Can You Have It All?
I recently read an article by Rhea Drysdale of Outspoken Media that really hit me in the gut. It is a brutally honest account of the triumphs and failures of her time as both a pregnant CEO of a media company, and as a new mother upon her return from maternity leave.
She brings up two points I think are really important for any woman who has ever wondered how she is going to balance home and work life:
The Reality About Failure: Just A Rationalization?
Why do so many business leaders tout the benefits of failure? To listen to some of these motivational and inspirational words of wisdom you’d think that a couple of trips through bankruptcy is as prestigious as a Nobel Peace Prize. If you step back and think about it, embracing failure is akin to leaning into a left hook to the side of your face. Logic tells us it just doesn’t make sense, there cannot be nobility in failure, only misery.
Top 10 Best Practices & 13 Mistakes When Starting A Business
Every new business has its own timeline, but it feels like every day we hear about another startup that was something like an overnight success. Why can’t all great business ideas work this way?
There are concrete reasons why your business may continue to struggle well beyond its first couple years in operation—and fortunately, there’s plenty you can do to get going on the right course. In this article we’ll get you up to date on some of the best business practices as well as the most common mistakes. Enjoy!
What Are DBA Publishing Requirements?
Are you in the process of acquiring a doing business as (DBA) name for your business? Getting an alternate name for your company is a fairly straightforward process, but there can be some additional red tape to deal with depending on your state of formation.
Specifically, some states require that you publish proof of your new DBA name in a local newspaper according to a specific schedule.
Failure to meet your state’s publishing requirements can result in your DBA being revoked, fines, or a suspension or revocation of your business license. Thankfully, most states do not have this requirement. However, if you do business in one of the few that does, it’s important to know the requirements and how to properly meet them.
What Can And What Cannot Be Trademarked
In my previous article, The Secret of Thriving in a Competitive Industry, you learned a strategy that uses trademarking to create and maintain an important advantage over your competition.
Now, it’s time to get into what trademarks actually are, so that you can understand what can and what cannot be trademarked.
A trademark is a feature unrelated to the characteristics of your products or services which allows your new business to help customers and consumers distinguish your products and services from identical or similar products and services of everyone else.
What Does It Mean To Be An Entrepreneur Today?
The entrepreneurship experience has changed dramatically over the last couple decades. Social media and other technological innovations have made the startup sphere easier to enter than ever before, but finding success requires just as much hard work and dedication as ever.
In this article, we’ll discuss the many ways modern technology has changed the game for startups, and what it means to be an entrepreneur in today’s business landscape. Let’s dig in!
What Is A Business Owner’s Policy (BOP)?
Acquiring proper insurance coverage is one of the most important things to do early in a company’s life cycle. However, it can also be a source of stress and confusion, as entrepreneurs try to navigate the policies they need to purchase.
If you’re starting your own business, you may be wondering what a business owner’s policy (BOP) is, who should acquire one, and how it compares to other types of insurance. This article will explore the details of BOPs so that you can make an informed decision on whether or not you need to invest in one for your business.
What Is A Commercial Package Policy (CPP)?
No matter the size, scope, or nature of your business, obtaining the right insurance policies is an incredibly important step for any entrepreneur. If you plan to purchase both commercial property insurance and general liability insurance, then you may be interested in a commercial package policy, or CPP.
Before making this decision, it’s important to understand a few things about CPPs, such as what coverages they provide, why they may or may not be recommended over individual policies, and how they differ from a business owner’s policy.
This article will review all the relevant details of commercial package policies so that you can make an informed decision for your business.
What Is A Corporation?
The corporation is America’s oldest and most respected business structure, with hundreds of years of history as the business type of choice for all types of entrepreneurs. Even today, with as many alternatives as there are available, the corporation remains the gold standard of American business formation.
Despite their popularity, the intricacies of corporations, how they compare to other business structures, and their two potential tax structures - C corporations and S corporations - can cause some confusion. Before deciding if this is the right business structure for you, it’s important to understand what a corporation is, how it’s formed, and how it operates.
What Is A DBA?
If you’re starting a business for the first time, or if you already are a sole proprietorship or general partnership under your own personal name, you may be wondering what a “doing business as” (DBA) name can do for your company.
When you acquire a DBA, you can operate your business under an assumed name. You may even choose to use more than one if it suits your business needs.
What Is A Foreign LLC?
If you’ve decided to expand your business beyond its current state lines, the prospect of reaching new markets and larger customer bases can be very exciting. However, there are certain steps you must follow and requirements you must meet to remain compliant throughout your expansion. In order to do business in a new state, you’ll need to first file as a foreign LLC in that state.
While each state has its own legal variations regarding how to form and maintain a foreign LLC, there are some common elements that apply across the board.
What Is A Series LLC?
While the limited liability company (LLC) is a highly popular business structure, for some larger or more complex businesses it may not be viable to operate the entire company as a single LLC. In recent years, several states have welcomed the arrival of a new twist on the limited liability company, the Series LLC.
What Is A Startup?
These days, we hear the word ‘startup’ all the time, but many folks don’t actually understand what a startup is. To be fair, the term is a bit nebulous -- largely because it’s so overused.
In this article we’ll outline what exactly a startup is, how startups are typically funded, and how they differ from other types of businesses. Let’s dig in!
What Is An EIN?
The vast majority of partnerships, corporations, and LLCs require an Employer Identification Number or EIN.
An EIN enables your business to hire employees, open a business bank account, and conduct a number of other business activities.
What Is An LLC Corporate Veil?
What You Need To Know
If you’re an owner or member of a limited liability company (LLC), it’s likely that one of the main reasons you chose this business structure is the personal asset protection it provides. However, the ability of an LLC to protect your assets is limited to your ability to maintain what’s known as “the corporate veil.”
The corporate veil is another term for your company’s limited liability status, and if it isn’t maintained correctly, it can be “pierced” — leaving your personal assets exposed to creditors in potential lawsuits. This is a thoroughly undesirable situation for any LLC to be in, so it is vital to know how you can avoid your corporate veil being pierced.
What Is An LLC Kit?
If you’ve looked around at different options for forming your new limited liability company (LLC), you’ve probably seen the term “LLC kit” or “LLC kit and seal” on a number of websites. What you may not have found is an unbiased take on whether this feature is actually necessary — or, for that matter, any indication of what exactly the LLC kit includes.
This guide to LLC kits will discuss what you get when you order one of these kits, the significance of the seal, and whether or not you need an LLC kit at all.
What Is An LLC Organizer?
If you’re starting a new limited liability company (LLC), you may be wondering what an LLC organizer is, or perhaps what the difference is between an organizer and a member.
To form your own LLC, it’s important to know exactly what is involved and what the correct formation process looks like. While the role of an organizer is not terribly complicated, there are some details that you should understand before starting your new company.
What Is An LLC?
Are you considering starting a limited liability company (LLC), but you need more information before doing so?
There are a lot of great benefits to owning an LLC, but it’s important to have a full understanding of both the advantages and disadvantages of this business structure before deciding if it’s right for you.
What Is An Operating Agreement?
If you want to start a limited liability company, one of the most important steps in the process is drafting an operating agreement.
While this document is only legally required in a few states, an operating agreement is crucial for outlining the ownership structure and management style of any LLC. By drafting an operating agreement, you can avoid confusion and even legal issues down the road.
What Is Business Interruption Insurance?
When you’re starting a new business, it’s vital that you protect your company with the right insurance policies to cover any potential claims against you. While most entrepreneurs have at least some knowledge about general liability insurance and workers’ compensation insurance, business interruption insurance can often be neglected.
Business interruption coverage protects your company in the face of an unexpected temporary closure due to disasters and other perils covered by your commercial property insurance. With this type of insurance, you can keep paying bills, covering payroll, and even have your lost income replaced while your business is closed. But does your company really need business interruption insurance? How much coverage do you need? And is there anything excluded from your policy?
This article will cover everything you need to know about business interruption insurance and if it’s something your business needs.
What Is Business Property Insurance?
Business property insurance protects your business in the event of a loss caused by circumstances outside of your control. Without it, you the business owner are financially responsible for repairing any damages to your commercial property on your own — regardless of the cause.
What Is Business Vehicle Insurance?
If your company uses automobiles in any capacity, you’ll need to acquire business vehicle insurance. Even if you already have business property insurance or any other type of professional coverage, you’ll need a separate policy to cover your employees when they’re on the road.
What Is Commercial Crime Insurance?
When you’re starting a new business, it can seem like there are a million different choices for insurance policies to cover your company. While most businesses do a good job acquiring the basics like general liability insurance and workers’ compensation insurance, there are some coverages, such as commercial crime insurance, that can go a bit overlooked.
If you’re operating a small or mid-sized business, it might not seem like crime insurance coverage is a high priority, but you would be surprised at how many exclusions there are in other forms of insurance regarding criminal acts. If you want your company protected from a variety of potential crimes, committed by a wide range of people and entities, you need to look into commercial crime coverage.
What Is Commercial Umbrella Insurance?
Commercial umbrella insurance is a type of policy that a business can acquire to supplement existing liability insurance policies. The purpose of an umbrella policy is to protect your business in the event of a lawsuit that exceeds the limits of your primary liability insurance policies.
What Is Content Marketing?
Although the idea has existed for many years, content marketing has experienced a fairly recent popularity surge. For the beginning business, however, the concept of content marketing can prove to be a mystery.
In this guide, you will find the basics of content marketing as well as some examples of how major companies have made it an important part of their campaigns.
What Is Contingent Business Interruption Insurance?
There are so many insurance options available to business owners these days that it can be hard to keep track of them all. Some coverages, like general liability insurance, apply to a wide variety of business types and sizes.
Others, like business interruption insurance, and by extension contingent business interruption (CBI) insurance, are reserved for companies with some level of risk of their business being unable to operate for a period of time.
What Is Cyber Insurance?
In today’s business landscape, nearly every conceivable business type of any size is at least connected to the internet, and some companies operate entirely online. Regardless of your company’s exact relationship with the internet and information technology, cyber insurance is an increasingly popular form of coverage that protects your business from some perils that get more common by the day.
But how exactly does cyber insurance work? What does it cover, and what does it exclude? Most importantly, should you acquire a cyber policy for your business? In this article, we’ll take aim at these questions and more in an effort to determine whether you really need this type of coverage or not.
What Is Cyber Liability Insurance?
Cyber liability insurance safeguards businesses against internet-based perils and risk factors regarding information technology. With the right cyber liability insurance policy under your belt, your company will be protected against data breaches and other tech-based risks.
What Is Directors And Officers Insurance?
Once a small business grows enough to have company directors and/or officers, the question of whether to acquire directors and officers (D&O) insurance arises. Many businesses in this position are unsure if they need to acquire this coverage.
This article will discuss the details of D&O insurance, what it does and does not cover, and who should add it to their business insurance portfolio.
What Is Employment Practice Liability Insurance?
Employment practice liability insurance, or EPLI, covers your business in the event of an employee lawsuit. Whether a lawsuit is filed by a current, former or prospective employee, an EPLI policy will protect the company, as well as its current/former directors, officers and other employees.
What Is General Liability Insurance?
If you operate a business, you may be wondering if you should obtain general liability insurance. Perhaps you’re trying to determine if your business has enough risk to make it worth the investment, or maybe you just want to know if it’s legally required for you to have coverage.
This guide will discuss the ways in which general liability insurance can protect your business, what exactly general liability insurance covers, how much coverage you should pursue, and more.
What Is Key Person Insurance?
Most companies have one or two primary individuals whose work accounts for a significant portion of overall profits, or whose contributions are otherwise indispensable to the business.
Key person insurance is a type of coverage that companies like these acquire in case of the loss of a vital income generator.
What Is Market Research?
The reason many top businesses are so successful is that they are able to stay in tune with their target audiences and their competitors.
By using market research, you can not only decide who your target audience is but also what they are looking for in your product. These can be simple methods that your business can take on without help, or you can outsource to a market research firm for more complex tactics.
What Is Marketing?
You’ve got your business, you’ve got your budget, and you’ve got your product, but how are you going to attract consumers? The answer comes in the form of marketing.
Simply put, marketing is the process of how your business connects with its target audience. The Oxford English Dictionary divides marketing into three categories: placing a product on the market, seeking to increase sales of said product, and promoting the product’s public image. We can categorize this even further into the four Ps of marketing: product, price, place, and promotion.
What Is Professional Liability Insurance?
If you’re a business owner, it can be difficult to navigate the complicated world of business insurance. One item that many business owners have questions about is professional liability insurance.
Is it required, what does it cost, and how does it differ from general liability insurance?
This article will discuss who needs professional liability insurance, what types of claims these policies cover, and much more.
What Is The Best Business Plan Software For Mac?
Truth is, not all business plan software tools out there are Mac-friendly, it just so happens that our absolute favorite here at Startup Savant is 100% compatible with Mac, iPhone, or pretty much any other device - LivePlan! In terms of value, features and pricing - they're heard to beat.
That said, let's dive a little deeper into the 5 reasons Mac users adore LivePlan. Come on, it'll be fun, adventurous, and this article might just be the catalyst you've been searching for. Enjoy!
What Is Workers' Compensation Insurance?
If you’re a business owner of any kind and plan to hire employees, you’ll almost certainly need to acquire workers’ compensation insurance. This can be a highly complicated form of insurance, leaving many entrepreneurs with a number of questions about how it works.
Who needs workers’ compensation insurance? What exactly does it cover? Why do the requirements vary from state to state? How expensive will workers’ comp coverage be for your business? This article will discuss everything you need to know about workers’ comp, from the basics to the details.
When Is The Right Time To Form An LLC?
Whether you are currently operating a sole proprietorship or just thinking about starting a business, forming a limited liability company is a good option to explore. There are many reasons to form an LLC, but depending on factors like the nature of your business, the size of your company, and your goals for growing your business, it may or may not be the best time to do so.
When To Get Insurance For Your New Business
One of the most commonly asked questions from new business owners is when to acquire insurance for their company. There are several factors to consider when making this decision, including which types of insurance your company needs to acquire and the risks of running an uninsured or underinsured business.
This article will discuss all the details you’ll need to determine what policies your business will need and when you should acquire them for your new company.
When You Should & Shouldn't File A DBA
If you want to operate your business under an assumed name, you’ve probably looked into acquiring a “doing business as” (DBA) name.
Getting a DBA is the easiest way to acquire a new business name that you can legally use to represent your company. Because you can get as many of them as you’d like, you can use a different DBA for each branch of your business or each product line you sell.
Why & How To Find A Niche For Your Business (3 Simple Steps)
The term ‘niche’ has become such a cliché that new entrepreneurs either misunderstand the word or underestimate its importance in effective business marketing, positioning and planning.
We’re here to clarify what a niche actually is and explain why having one is so important. Don’t worry, it’s not as dense or complex as you might think. Let’s dig in!
Why & How To Start A Digital Business (Tips, Tricks & Resources)
Welcome, and congrats! The fact that you’re researching how to start a digital business means you’ve caught on to the fact that economics are changing, and changing fast.
Within the next decade roughly 70% of human-centric jobs will be outsourced to tech, so setting up shop and building revenue streams digitally is a really smart hedge! In this guide we’ll explain why starting a digital business is a great idea, and teach you about great digital products and online platforms—and don’t worry, it won’t take long. Enjoy!
Why Your Business Needs A Registered Agent
A registered agent is a person or business that sends and receives important legal papers on your behalf.
All LLCs are required to obtain a registered agent. While you are legally allowed to act as your own registered agent — or nominate one of your employees — this option isn’t widely recommended.