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Yes, We’re The little things you need to know to better run your own business! By Yeni Gutierrez.

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Presentation on theme: "Yes, We’re The little things you need to know to better run your own business! By Yeni Gutierrez."— Presentation transcript:

1 Yes, We’re The little things you need to know to better run your own business! By Yeni Gutierrez

2 1. Opening Your Doors Brand Yourself Register Your Business Get a Tax ID Opening a Business Checking Account

3 Branding Yourself Select a Name (Have 5 options) Create Templates of your marketing materials: Website, Brochures, Business cards, Stationary, Portfolio/work samples, etc… Answer your phone professionally! –If you use your home phone – forward to your cell –On-line answering machine –Fax-thru-email ng.asp?app%5Fhdr=&prog%5Fid=admaso2 ng.asp?app%5Fhdr=&prog%5Fid=admaso2 Promote yourself –Volunteer to work for non-for-profit organizations –Let everyone you know about your skills/work –Provide discounts & NEVER start with low prices

4 Registering Your Business Go to the Dallas County Web site – assumed.html assumed.html Instructions for Doing Business As (DBA) – ame_procedures.html ame_procedures.html Process: –Decide on the name, search it, fill form, pay (starting $14 + $.50 per partner), renew in 10 years! Request your Tax ID – –Phone (972) 644-4300, –Address 9241 LBJ Freeway Ste. 200 Dallas, TX 75243

5 Tax ID and Checking Account It is a good idea to register your business as follows: –MyBusinessName/MyName D/B/A A business checking account usually has a charge of at least $5 per month –To open a business account you need Driver’s License Money DBA receipt (yellow form) Other requirements may apply depending on Bank

6 2. Making it for Real! Make it official –Once you have registered your business, put your site up and print your marketing materials Network and send your resume at least 300 times! You will get a 1:100 response –Internet Craig’s List: –Temporary Agencies:, Remember that intermediaries get a 40% mark up average of your salary, but they also find jobs for you! –Don’t forget friends and family they also need you NEVER PAY A SUBSCRIPTION FEE TO GET A JOB! –You should never pay a registration (or one-time fee) for assignments, even if they say it's just for shipping & handling of materials.

7 3. Freelancing! A freelancer or freelance worker is a person who pursues a profession without a long-term commitment to any one employer. Fields where freelancing is especially common include journalism and other forms of writing, copywriting, computer programming and graphic design, consulting, and many other professional and creative services. journalism writingcopywritingcomputer programminggraphic designconsulting

8 Pros & Cons Freelancers generally enjoy a greater variety of assignments than in regular employment, and almost always have more freedom to choose their work schedule. The experience also allows the opportunity to build up a portfolio of work and cultivate a network of clients in hopes of obtaining a permanent position. Sometimes a freelancer will work with one or more other freelancers and/or vendors to form a "virtual agency" to serve a particular client's needs for short-term and permanent project work. This versatile agency model can help a freelancer land jobs which require targeted, specific experience and skills outside the scope of one individual. As the clients change, so too may the players chosen for a virtual agency's talent base. A major drawback is the uncertainty of work — and thus income — and lack of company benefits such as health insurance or retirement pay. However, many freelancers, journalists specifically, have found security in a new option. Many periodicals and newspapers have recently offered the option of ghost signing. Ghost signing occurs when a freelance writer signs with an editor, but their name is not listed on the byline of their article(s). This allows the writer to receive benefits, while still being classified as a freelancer, and independent of any set insurance

9 4. Options and More Options According to recent studies about 20 percent of contracted websites, software development and graphic designs worldwide are made by freelancers. Customers choose and stay with freelancers because their rate can go as low as 70 percent compared to industry standards. Work from Home –Local Companies –Out-of-State Companies Work On-Site –Commute to work it can be one or more locations

10 The Dark Side of Working at Home Distractions at home especially among workers that leave the office to be better able to care for small children and the infirm. Socially isolated and further job advancement is difficult to achieve. Fellow employees resent home telecommuters. Risk of confidential data loss and risks to data integrity resulting from the increased geographical diversity of their network and loss of direct corporate control over the telecommuter's physical work environment. The cost of technology becomes greater. Requirements for remote access through laptops, personal digital assistants, and home computers. Use of non-standard software can create problems. Setting up security and virtual private networks increase the demands for IT. Traditional line managers manage by observation and not necessarily by results. Liability and workers' compensation can become serious issues as well, they should check on local legal issues, union issues, and zoning laws. Information sharing should be considered synchronous in a virtual office and building processes to handle conflicts should be developed.

11 Work From Home Terms Telecommuting, e-commuting, e-work, telework, or working from home (WFH) is a work arrangement in which employees enjoy limited flexibility in working location and hours. In other words, the daily commute to a central place of work is replaced by telecommunication links.workcommutetelecommunication Telework is a broader term, referring to substituting telecommunications for any form of work-related travel, thereby eliminating the distance restrictions of telecommuting. All telecommuters are teleworkers but not all teleworkers are telecommuters. A frequently repeated motto is that "work is something you do, not something you travel to". A successful telecommuting program requires a management style which is based on results and not on close scrutiny of individual employees. This is referred to as 'managing by objective' as opposed to 'managing by observation'.managementmanaging by objective Long distance telework is facilitated by such tools as virtual private networks, videoconferencing, and Voice over IP. It can be efficient and useful for companies as it allows staff and workers to communicate over a large distance, saving significant amounts of travel time and cost. As broadband Internet connections become more commonplace, more and more workers have enough bandwidth at home to use these tools to link their home office to their corporate intranet and internal phone networks.virtual private networksvideoconferencingVoice over IP broadbandInternetintranet

12 Who Is In Control? If a client calls “just to check on the progress of the work” constantly… Charge client for the call time. But do advise client that “calls like such will incur a charge”. Explain that if you have promised a due date, that you are professional enough to deliver. That you will call as soon as the job is ready. E-mail client with samples if you deem necessary. Define all services in the contract, client will always have extras for you to do with out pay if it is not defined at the beginning.

13 Working On-Site You can not be in business independently if a client request for you to work on site most of your time. You become part of his/her staff Use proper attire dress one notch more than expected Be on time (15-20 min. before requested) Pack a snack, for the first day it might be a long one Do not rush your work, or they will expect you to work at that pace all time Avoid socializing at the “water cooler”. Avoid getting involve in “issues” Keep busy, look busy! Do not personalize your work area. No picture, plants or junk! You are there temporarily. Do not discuss your salary with anyone. State “My company/agency does not allow me to discuss that information with others” Most agencies does not allow you to return to work to the company with out their knowledge for at least one year. If a client requests your presence, ask them to call your contact person or call the company or agency directly with the information and ask permission to proceed.

14 5. Cost of Virtual Office Virtual offices please management because they reduce overheads, reduce office space needs, increase productivity, and reduce staff turnover. However, managers (whose roles are varied and not well defined) in telecommuting roles typically receive fewer promotions due to the lack of direct contact they need. From that aspect, telecommuting seems to work best for professionals such as engineers. The cost of doing business stats bin/article.cgi?f=/g/a/2005/07/11/wastingtime.TMP bin/article.cgi?f=/g/a/2005/07/11/wastingtime.TMP

15 Setting Your Office Office equipment is necessary if you are going to work from home –Computer, Printer, Scanner, Hard Drive –Telephone/Fax, Internet (High Speed) –Software (If not available for a specific job – download the trail version, usually good for 30 days) –Office supplies (stapler, cds, folders, labels, etc…) Most equipment is tax deductible and certain equipment can be depreciated such as computers and printers…) Your home office space is also tax deductible as well as electricity and your car if it is dedicated to your business or just apply mileage

16 On A Shoestring Budget? Office Furniture: Dallas Morning News “The Week” has a section called “Pass it On” where people give away surplus, Garage sales, refurbished equipment stores (Fry’s), company surplus sales - bids Office supplies: Garage sales, dollar stores, clearance items, coupon purchases Equipment: Garage sales, refurbished equipment stores (Fry’s), company surplus sales – bids, Ebay

17 Cover Your Back! It is highly recommended an insurance for errors and omissions usually referred as EO insurance. Your auto insurance can provide you with a quote Your renters/home insurance does not cover office equipment, please ask details to cover your equipment If you subcontract a job, you are responsible before the client. All problems will be directed to you When you quote a job add 2 additional days for delivery, if the job is completed before the due date, do not deliver it until the due date. Client will expect prompt response all times If it is a rush job, have someone proofread it or at least rest and revise again. Do not spend your money until you receive it. Freelance payments can be from a week to six months normally

18 Sometimes… I Need Help I am not a financial expert so I get help from the best. Joan Volpi, H&R Block assist me with information to make sure that I get the best refund each year. (972- 485-5881) I also subcontract some jobs. Sometimes because there is a lack of time or sometimes lack of practice/knowledge. When I subcontract I usually keep about a 20-40% for referral fee, liaison services and EO insurance Or, I will pass the job directly to someone and would like for that person to reciprocate as well I make sure to keep a service directory with the information of people that I feel comfortable to work with and trust, based on previous experiences

19 6. New Client Kit Most of my new clients get a kit that includes: –A Personalized pen with my company information on it –A Calendar with my business information on it –A "Working with ME (my business name)" packet that includes forms, copy of the agreement, brochure, W-9, business card and other project information –Client Account information sheet –Thank you card (mailed the next day to them) –Personalized Post-It Notes and a few other things You don't give W-9's to clients to fill out, you give them to vendors. You are the client's vendor and by giving them the W-9 with your info you are saving them the step of having to ask you for it, and therefore you get paid faster!

20 7. Keep in Touch! Personally, every year I save a 10% of each invoice and use that money for Christmas presents for my clients. From cards, chocolates, fruits, cookies to gift certificates. Some companies do not allow this kind of presents, but when permissible I provide an appreciation gift to the whole small company or to the department that I am servicing. Never exceed $50 in your gifts, do smaller gifts through out the year Remember dates, do courtesy calls at least every 2-3 months if needed. Use promotional packages and discounts

21 7. Beware of Scams!

22 Other Resources Buy your domains/hosting and other services at Reseller cost &prog%5Fid=admaso2 or &prog%5Fid=admaso2 Texas Site Create Surveys Cost of Business Stats bin/article.cgi?f=/g/a/2005/07/11/wastingtime.TMP bin/article.cgi?f=/g/a/2005/07/11/wastingtime.TMP Publicity resources Copyright and Fair Use – Educational dex.html dex.html Lookup information Forms, templates and samples for your small business

23 Other Resources (Cont…) Quality, Affordable Web Design (Check other people’s work) FREE Worldwide Listing of Virtual Office Assistants! Tax Deductions Compare Salaries Small Business Administration – Great Information to read to start a business Free Project Management service Free antivirus for your computer Free on line web calendar hosting Local calendar activities – Free calendar by Zip Code Search for illegal copies of your web sites

24 References Terminology –

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