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The next 3 ways are being in business and keep in mind to be in business you need:

  • Business idea, plan, corporate set up, financing. (sole proprietorship, partnership, llc, incorporated, etc) (speak to an accountant and to a lawyer)
  • You can operate a small business under your name (depending on your jurisdiction)in most places in North America but you are not protected against liability
  • Once you figured all that out, it’s time to promote your services
    • You can and or will use word of mouth (telling your friends and family and other people that, that’s what you’re doing). You are becoming that expert go to person in your field.
    • You might use business cards
    • Set up a website
    • Get flyers
    • Post on billboards,
    • And there’s over another 100 methods available in my other e-book
  • You’ll need to fill out the appropriate taxation forms, deduct your business expenses, remit collected sales taxes, etc.
  • To scale this, if you get so busy, you might hire an admin assistant to answer your phone, or a book keeper, a lawyer or other employees as the business grows to meet your client’s demand and your needs.

Helpful Resources

Government Contact for all your questions

  • Canada 1-800-0-Canada (622-6232)
  • USA 1-800-FED-INFO (333-4636) 1-800-First-Gov (347-7846)

http://www.BusinessStartupInfo.us

http://www.sba.gov/category/navigation-structure/starting-managing-business

 

Self-Employed contractor/small business owner/sales person

  • These types of jobs establish you as a contractor: plumber, realtor, actor, doctor, lawyer, life insurance agent, etc.
  • A small business owner could be: convenience store owner, a garage owner, an internet marketing store, etc.
      • Pros
        • You control your own time
        • You have the pride of owning your own business
        • You have huge tax advantages that employees do not get
        • Usually your hourly rate is way higher because you establish your prices and is sold to clients by contract rate
        • You can hire employees to work for you
        • Examples
          • Selling real estate is one of the largest commissions based type of job
          • Selling life insurance offers residual income for a limited time
      • Cons
        • You think you control your own time but really, instead of one employer, every new contract is a new employer
        • Usually no benefits nor pension plan
        • You’re responsible to handle all business related activities from marketing, product creation, service rendered, admin work, accounting, sales, marketing, book keeping, etc. Either you do all that yourself to save money or hire by contract someone else and pay them a fee so you can leverage your time on your skill or craft.
        • Taking time off costs you money
        • If you’re sick and can’t work, no income comes in (unless you’re covered by an income replacement insurance) but in my experience, people try to save money so they don’t like to spend on extra coverage, especially start ups. The insurance also usually have a clause that says you have to be out of work for more than 90 days or for extra premium 60 days.
        • You have your very best interest at heart, for every employee you get, it’s a new headache.
        • Every time you take some time off, you’ll feel like you could be doing something related to your business, get another contract or doing this or that.
        • Figuring out which type of corporate structure or entity to register your business can be confusing. Registered, partnership, limited liability, inc, etc.
        • If you have licences you are bound to the state/province in which you can operate and usually incur renewal fees.
        • Here are places, if you have a specific skill set, that you can promote and offer your services to work from home as a contractor. These site offer a safe way for contractors and people looking for service to meet and work. They have mediator service which helps to solve any conflicts until a resolution is done. Think of it as eBay and PayPal but instead of selling goods and products, your selling services and skill set. These are the most popular and most well known out there.
    • http://www.odesk.com
    • http://www.elance.com
    • http://www.guru.com
    • http://www.vworker.com
    • http://www.scriptlance.com
    • http://www.freelancer.com
    • http://workaholics4hire.com
    • http://www.99design.com
    • http://www.fiverr.com

 

  • Here is just an overview of other topics related to internet marketing that you can research:
    • Affiliate marketing
      • Selling other people’s products
    • Selling information or products (dropship)
      • Owning an online store
    • Ad revenue on your blog
      • Creating great content on a daily basis related to a specific niche and offering paid advertising on your site. Google has a great program called AdSense that you can look into.
    • Filling out online surveys
    • PTC (paid to click)
    • PTR (paid to read)

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