Your Questions About Successful Trading Business

Mark asks…

I want to be very successful in the advertising/marketing business in Atlanta. How do I start?

I want to move to Atlanta in the next year, and start working in advertising. I know that you have to start at the bottom, but I don’t know where and how to at least get in to the door of the business. I’m currently going for an associates in marketing and I have one in business and when I do move to Atlanta I want to finish and get my Bachelors in one or the other. Do anyone have any suggestions?

John answers:

So you’re good at marketing. I know of the perfect opp where you could put your skills to good use and empower yourself at the same time. I’m working with a 35 yr old company that has been experiencing tremedous growth in every quarter of doing business for the last 15 yrs of it’s existence. They are publicly traded on the highly respected NYSE and have been featured in top magazines such as Forbes, Money, Business Week, and many others. Not to many companies can say they have a track record like this. A few things that I love about the company I’m working with is it allows me the opportunity to Get Paid Daily, create Passive Income, and Residual Income. Best selling author of Rich Dad Poor Dad, Robert Kiyosaki openly stated “I should have started your business before starting my own…yours is the best compensation plan I have ever seen. Experts are saying our company will do more business in the next 35 months than we have in the last 35 years, and as of the end of 2006 revenues were at $445,000,000 if you would like more information on this this exciting business please email me at

jay@omnisuccessgroup.com

Linda asks…

How do I start my own business?

I am a student right now, majoring in Web Design. I want to be a freelance web designer, but I do eventually want to build a business out of it. After a few years I want to have a decent client base and I want to start hiring people on right out of school to help them get the experience they need sence it’s kinda hard to get a job without it.

I have big dreams for this, but I want to know what i need to do to make a business out of it. Do I need an IRS number? How do I get one? How do I know how much to take out for taxes? I need to know everything lol.

John answers:

The first thing you need to do is IGNORE the first answerer who said “…to open up a business, and that the Government will pay us, just one time (I do believe it is a One time Grant)” as there is NO SUCH THING in the United States. That is misinformation at its worst perpetuated by scammers targeting the gullible (see the Federal Trade Commission warning on these companies promising grant monies http://www.ftc.gov/opa/2004/03/grantresources.htm and http://www.ftc.gov/bcp/edu/pubs/consumer/alerts/alt134.htm )

There are no grants to help you start a business. From the SBA website http://www.sba.gov/mostrequesteditems/CON_FAQ2.html

“The U.S. Small Business Administration does not offer grants to start or expand small businesses, although it does offer a wide variety of loan programs. (See http://www.sba.gov/financing for more information) While SBA does offer some grant programs, these are generally designed to expand and enhance organizations that provide small business management, technical, or financial assistance. These grants generally support non-profit organizations, intermediary lending institutions, and state and local governments.”

As to your question on whether you need an IRS number —

Generally, businesses need an Employer Identification Number (EIN) or federal tax identification number. The EIN is used to identify a business entity such as a corporation, LLC, or partnership. Sole proprietorships that need to pay federal excise of employment taxes are required to get an EIN.

On the other hand, sole proprietors with no employees are not required to get an EIN, and can instead use their Social Security numbers.

The Internal Revenue Service (IRS) web site at http://www.irs.ustreas.gov/businesses/small/article/0,,id=98350,00.html contains all the information you need about EIN and how to apply for an EIN electronically.

If you need to know everything, I suggest you you go to the library or the bookstore and start reading these books

– What No One Ever Tells You About Starting Your Own Business: Real Life Start-Up Advice from 101 Successful Entrepreneurs http://www.amazon.com/exec/obidos/ASIN/1574101129/ref=nosim/powerhomebizguid
– If You’re Clueless About Starting Your Own Business and Want to Know More http://www.amazon.com/exec/obidos/ASIN/1574100939/ref=nosim/powerhomebizguid
– Start Your Own Business : The Only Start-Up Book You’ll Ever Need http://www.amazon.com/exec/obidos/ASIN/1891984217/ref=nosim/powerhomebizguid
– Steps to Small Business Start-Up : Everything You Need to Know to Turn Your Idea into a Successful Business http://www.amazon.com/exec/obidos/ASIN/1574101323/ref=nosim/powerhomebizguid

It may help you if you could talk with a small business expert or free mentors to give you ideas on how to make your dream of starting a business come true even without money. Here are some places where you can find a mentor:

– Government Mentoring Programs such as SBDCs, which works with community colleges and local business development councils to offer mentoring programs http://www.sba.gov/sbdc/sbdcnear.html ; or the Women’s Network for Entrepreneurial Training http://www.sba.gov/womeninbusiness/wnet_roundtables.html
– Volunteer programs such as SCORE http://www.score.org which is composed of mostly retired executives and entrepreneurs
– Formal mentoring programs such as Athena Foundation http://www.athenafoundation.org/programs/globallinks.html , Helzberg Entrepreneurial Mentoring Program http://www.helzbergmentoring.org/HEMP/ , or The Aspen Institute MicroMentor Program http://www.micromentor.org
– Professional organizations such as the National Women’s Business Council http://www.nwbc.gov/Mentoring/programs.html
– Industry and trade associations
– Local business groups, such as the chamber of commerce
– Local chapters of business groups

Robert asks…

How can a teenager get involved with trading real estate?

I’m 16 years old, and I currently have about $3000 saved up from various business ventures and saving money. From what I’ve found, $3000 isn’t enough to buy a foreclosed house, even of the lowest quality.

However, I realize that this is the perfect opportunity to start buying into real estate, and I don’t want to miss the boom when it comes.

Any suggestions?

John answers:

Start a newsletter. Find good investment opportunities, research them, and share them with your subscribers. Find out which ideas your subscribers found useful, develop a following. If you are successful, when you turn 18 you’ll already have a network of people that might be willing to work with you on real deals, or at least you will have honed your skills and knowledge.

The other poster is right, it’s hard for you to get involved directly at age 16, since you can’t enter a binding contract, and it’s also hard for people to hire you. (It’s a shame… I think there ought to be a way to pass a test and become an adult sooner.) However, you could sell a product/service related to real estate investment.

Drop me a note if you wish, you sound like an enterprising young man. At the very least your spelling and grammar is better than 90% of the people on this website. 🙂

Ken asks…

successful small business owners – what is your best advice for someone starting out only 2 years in?

I’d love to hear what has helped you the most to be successful in your field.
thanks!

John answers:

If you are starting in two years then you are best to do a course in running a small business. Learn about tax requirements. Banking facilities, Wages & Salaries, Insurance, sales & marketing.

A small business can vary from a retail shop to a trades person. You must determine your prduct viability within the market before you proceed. Perhaps do a survey, either online, door to door, or a mail-out.

Also, the goods and service you provide will need to be reputable and popular unless you are providing to a special market then you will need a high profit margin.

High volume sales are maintained by providing a low cost but the damages and faulty stock returns may impede some of your profits. Don’t spend excessively on fancy shop fittings till you know the goods or services will be successful for you.

Don’t start your business if you have no assets or savings. You can start a business on less than $5000 but, remember that your income will need to be derived from the profits and if there are no sales for the first few months, due to setting up processes, you will need income to support you till the businesses is fully operational.

Cost out the expected operational expenses for the day, week, month, year. Take into account that gas & electrictiy, rent, car expenses, phone & internet, wages, insurances, must be part of your costing.

James asks…

How much will i get if I trade in BattleField 2 Complete Edition?

I’ve been thinking about trading in my BattleField 2 Complete Edition PC Game i never used it and just bought it about 10 months. I never used it because my computer couldn’t handle the game.I can’t wait until next year though when im buying a new computer, because people might not play it any more thats what i’m worried about and if don’t sell it quick it might lower the price so please help me?

Also SHOULD I SELL or WAIT for next year?

John answers:

Honestly, keep it. Gamestop and the like are really cheap. They give $35 for a new 360 game that just came out. Plus, most dont take used pc games. They are successful because they buy cheap and sell high, just like the rest of business.

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