Facebook Page Posts for the week of July 25th

This is a summary of posts for the weeks of July 25th to the Arocho Law Office Facebook Page:

With Squeeze on Credit, Microlending Blossoms: http://www.nytimes.com/2010/07/29/business/smallbusiness/29sbiz.html?_r=1&ref=todayspaper

Business Tip: Marketing Your Business Online – to Get the Biggest ROI- http://community2.business.gov/t5/The-Industry-Word/5-Tips-for-Marketing-Your-Business-Online-to-Get-the-Biggest-ROI/ba-p/26693?cm_mmc=GovDelivery-_-072110-_-weekly-_-community

Starting a Trucking Business: http://community2.business.gov/t5/Business-Law-Advisor/Starting-a-Trucking-Business/ba-p/26211?cm_mmc=GovDelivery-_-072110-_-weekly-_-community

From Bus.gov: How to Legally Sell Your Goods at Fairs, Garage Sales, Flea Markets, and Craft Shows - http://community2.business.gov/t5/Business-Law-Advisor/How-to-Legally-Sell-Your-Goods-at-Fairs-Garage-Sales-Flea/ba-p/26883?cm_mmc=GovDelivery-_-072110-_-weekly-_-community

Business Tip: 4 Tips for Giving Your Business Retirement Plan a Check-Up – Before the IRS Does! http://community2.business.gov/t5/Small-Business-Matters/4-Tips-for-Giving-Your-Business-Retirement-Plan-a-Check-Up/ba-p/26637?cm_mmc=GovDelivery-_-072110-_-weekly-_-community

Location, Location, Location: Where You Run Your Business Matters - http://community2.business.gov/t5/The-Industry-Word/Location-Location-Location-Where-You-Run-Your-Business-Matters/ba-p/27529?cm_mmc=GovDelivery-_-072810-_-weekly-_-community

10 Signs You Need to Revise Your Business Plan - http://community2.business.gov/t5/The-Industry-Word/10-Signs-You-Need-to-Revise-Your-Business-Plan/ba-p/28679?cm_mmc=GovDelivery-_-072810-_-weekly-_-community

Laid Off and Looking to Start Your Own Business? Understand Your Unemployment Benefits First - http://community2.business.gov/t5/Small-Business-Cents/Laid-Off-and-Looking-to-Start-Your-Own-Business-Understand-Your/ba-p/27723?cm_mmc=GovDelivery-_-072810-_-weekly-_-community

Starting a Travel Business - http://community2.business.gov/t5/Business-Law-Advisor/Starting-a-Travel-Business/ba-p/27613?cm_mmc=GovDelivery-_-072810-_-weekly-_-community

Starting a Home-Based Franchise Business – 6 Steps to Help You Find the Right Opportunity at http://community2.business.gov/t5/Small-Business-Matters/Starting-a-Home-Based-Franchise-Business-6-Steps-to-Help-You/ba-p/27523?cm_mmc=GovDelivery-_-072810-_-weekly-_-community

Business Tip: Tips for Finding Small Business Friendly Banks at http://community2.business.gov/t5/Small-Business-Matters/Five-Tips-for-Finding-Small-Business-Friendly-Banks/ba-p/27755?cm_mmc=GovDelivery-_-072810-_-weekly-_-community

Business Tip: Putting the “Social” into Social Media Marketing – Tips for Interacting with your Customers at http://community2.business.gov/t5/Small-Business-Matters/Putting-the-Social-into-Social-Media-Marketing-3-Tips-for/ba-p/28719?cm_mmc=GovDelivery-_-072810-_-weekly-_-community

Checklist for Starting a Business from IRS

From the IRS website (July 27, 2010)

The checklist below provides the basic steps you should follow to start a business. This list should not be construed as all-inclusive. Other steps may be appropriate for your specific type of business.

Information about specific industries can be found at the Industries/Professions Web page.

Each state has additional requirements for starting and operating a business. For information regarding state-level requirements for starting a business, please refer to your state's Web site.

Refer also to the Small Business Administration's Checklist for Starting a Business.

• Apply for an Employer Identification Number (EIN) if applicable.
• Select a business structure.
• Choose a tax year.
• Choose your accounting method.
• If you have employees have them fill out Form I-9 and Form W-4 (PDF). If your employees qualify for and want to receive advanced earned income credit payments, they must give you a completed Form W-5 (PDF).
• Pay your business taxes.
  

References/Related Topics

• Business.gov
• Starting a Business
• Tax Calendar for Small Businesses and Self-Employed

Know Your Market by Determining Your SWOT: Guest Blog by Douglas C. Dobson, President, Competition Analysis, LLC

Business is slow. With the economy in recession and unemployment high, most businesses today are struggling to survive, much less to prosper. The time is now – more than ever – to get to “know your market.”

Start by thinking about your present customers. Why have they chosen you to be their supplier or service provider? Have your prices attracted them? How about the quality of your merchandise or service? Who are your competitors? What differentiates the product and service that you provide from that offered by your rivals? There are no easy answers to these important questions, but there is an organized way to think about them called SWOT analysis. Essentially, the exercise is to determine the Strengths, Weaknesses, Opportunities, and Threats faced by your business.

How do you proceed to determine your company’s SWOT? You might begin by conducting a survey of your current customers (and perhaps some former customers that have not bought from you recently). Understand why buyers purchase from you and what you could do better to gain/retain customers. Evaluate the threats from possible substitute products or increased foreign competition. Recognize opportunities that may be presented by possible new product applications. Assess the likelihood of new government regulation (both pro and con). Consider conditions in the labor and materials markets on which you rely. Interview your customer support reps and salesmen. Read the trade press and internet business blogs. Attend meetings and seminars. Go to trade shows and network with others in your industry (but do NOT talk about establishing prices).

Once you have a feel for the right questions to determine your company’s SWOT, you may want to consider working with a business consultant that specializes in marketing strategy and competitive effects analysis. These specialists can often provide in-depth market research and competitive positioning to help your company better know your market – its Strengths, Weaknesses, Opportunities, and Threats – now and in the not-so-distant future. Whatever course you take, begin your SWOT analysis today for better results tomorrow.

Douglas C. Dobson is the President of Competition Analysis, LLC (http://www.competitionanalysisllc.com).