Quick Tips to Stay Cool, Calm and Collected While Stock Trading

Love it or hate it… the stock market is continually making (and losing) money for people on a daily basis. It’s not just about jumping in and out of stocks, or investing in a 401K for 20 or 30 years… it’s about coming up with an investment plan and strategy that works for you.

With all of that being said, stock market traders can lead one of the most highly charged and stressful careers imaginable. Full of non-stop action and major ups and downs, it can be easy to feel overwhelmed and become agitated by factors that are out of your control when riding the stock market wave.

Sound familiar? Are you new to trading?

Take a moment to read through our latest reference guide on how to stay cool, calm and collected, even when Pompei is burning around you. The stock market is a crazy place, so be sure to prepare yourself before you enter.

Over-preparation

There is a psychological phenomenon where some believe that over studying a subject can lead to a blank when it comes to putting the theory into practice.

For example, aspiring traders run around from book to classroom to teacher to try and find the best trading strategies but overthinking and second guessing takes over when the time comes to actually put in a buy or sell order with real money. In this situation, a trader has learned the theory over and over but that doesn’t do anything to prevent the body and mind from freezing over.

So, remember that while you do need to put hours into learning about the stock market and different strategies, don’t forget to dedicate some time to using a trading simulator where you can put what you learn into practice. This strategy is referred to as paper trading and the best part is you don’t have to risk a cent of your own money so it’s a win-win. 

Emotional Intelligence

Knowing how to react in a simulator can be a bit different to a real-life market as there are different scenarios to take into account. Making sure to give yourself allowance for emotional control is a good way of being able to keep yourself in check.

The first step to this is making sure you know what makes up an emotion: stimulation, feeling, motivation, belief and temperament. Once you have understood the concepts of what they mean, you can better understand how you can make your emotional state work for you as opposed to against you. 

Timing Your Trades

Market timing is used to maximize profits and balance the associated risks with high gains. It’s essential that you educate yourself on the importance of market timing and what that can mean for your own trading strategies.

What times of day see the greatest volume of action?

When does volatility spike and is there a way you can leverage that knowledge to set buy and sell orders? Is there a small window where you won’t be able to be online and ready for action? These are all questions you need to consider when it comes to timing your trades. 

Be Realistic

You are not going to win every single trade so be real with yourself. A successful trader will be right about 60% of the time (and sometimes less) so rather than dwelling on your defeats, you should focus on your wins.

Keeping this in mind or repeating it as a mantra is a good way of stopping yourself from over-stressing and being your own worst critic.

How to Keep It Together When Your Trading is in Chaos

At the end of the day, no one know what the stock market is going to do tomorrow. Some people might think they do, but it’s really all a toss up.

The important thing to remember is that you need to have a strategy in place. Know your limits, what your goals are, and when to enter and exit a trade.

With more attention on the stock market, cryptocurrency and investing than ever before, now is a great time to get started — but make sure you prepare yourself… as it might just end up being a wild ride!

If you enjoyed this article, be sure to check out my other stock market related articles by using the search box on the right side of the page. And of course… this is all just useful information and resources for you to read through. In no way am I a financial advisor, or recommending any trading advice.

Don’t Overlook These Considerations Before Launching Your New Business

Starting a business on the internet is easier than ever before, but don’t for a second let that make you think it’s going to be easy! With more businesses and brands on the internet than ever before, and more people joining with their own ideas and sites daily, it’s a very competitive space – and yet, there’s still enough money to be made that we can all play along nicely.

Taking your new business idea or concept and bringing it into fruition is one thing, and taking it seriously and knowing how to test, scale and turn it into something profitable is another.

With all of that being said, there are several factors to consider when starting a business, and we will be covering a few of the most important ones in this article today.

Let’s get started!

Building the Foundation for Your New Business

Before starting any type of business or brand, it’s important to make sure a lot of time and effort is spent on the preparation process. During this time you should be asking yourself a lot of questions, such as:

  • Why is this business better than what’s currently out there?
  • How will the business target new customers and make money?
  • What are the best ways to bring traffic to my site?
  • Where are my top competitors and what are they doing?

By asking and answering each of these questions before launching your business idea, it will help you have a better understanding of what your business is, who your customers are, and what needs to be done in order to bring those customers in and make money on a daily basis.

Along with asking and answering such questions, it’s also a good idea to read up on some of the latest business and marketing cases available through top websites and blogs in the industry. This can prove extremely useful, as they often break down different business models and marketing methods.

A great example of this can be seen on Convince and Convert, in their recent B2B user internet case study. This is just one of the many different case studies available on the site and through online marketing blogs, and it’s relevant whether you’re starting a social media marketing agency, an ecommerce company, a web design consultancy or anything else.

In addition to this example mentioned here, it’s also a good idea to look for recent case studies on how to grow a business and brand through a variety of methods such as organic SEO, paid marketing and social media.

Focusing on a Content Creation and Marketing Strategy that Works

With a business on the internet, there needs to be some form of content or value provided. And when you break down the many different reasons why someone might be using the internet, it ultimately comes down to one of the following:

  • To find information
  • To buy something
  • To be entertained

This means, in order for a business to survive, it needs to cater to these needs — while also doing it better than the competition that is already out there. And when it comes down to the type of content creation and marketing that’s going to be used, this is usually through written content, visual social media content, or having a site where people can click and buy products or services.

For most businesses and brands, content creation through the use of a blog and published articles is the best option. However, once an article is published, the work has only just started. Then it’s time to start with the article promotion and getting users back to your site.

If your efforts are going to be focused on content creation and getting traffic through the search results, it’s important to understand the basics of SEO and building backlinks to your site.

To learn more about this process, we recommend reading through any of the latest trending SEO topics in Google, while also downloading this content marketing template. The better control and management you have over your site content and it’s promotions, the more likely you are to see improved rankings and traffic back to your site.

Growing Your Business with a Focus on Social Media

As important as written content creation and marketing is, it would be a mistake to discount the huge opportunities that lie within social media marketing. In fact, many of the most successful businesses and brands in the world today focus a majority of their efforts on social media.

In order to understand what approach is best for your business, it’s crucial to know where your audience is, who they are and what they are looking for.

You can learn all about this process in this social media reference guide for freelancers and small business owners. It starts out with some of the most basic steps involved in social media marketing, while also covering other areas like brand reputation, SEO and different social media tools to help with content creation and post scheduling.

Everything You Need to Launch Your Business is a Click Away

While there are many different moving components and factors in the process of launching a growing business, it’s now more efficient than ever before thanks to the power of the internet. No matter what questions or concerns you might have, there is an endless supply of content and expertise recommendations out there to help you along the way.

Best of all, the majority of this content is free and is available in a wide variety of content types – such as case studies, blog posts, YouTube videos, podcasts and more.

At the end of the day, every business is unique in its own way, the buyer’s journey is in a state of constant evolution, and there is no correct or wrong way to promote and grow your business – that is, as long as you are catering to the needs of your audience and customers. The more time and effort you put into your business with split testing, coming up with new content ideas and providing value to your audience, the more you will learn and adapt along the way.

With all of that being said, be sure to visit each of the listed resources and references guides mentioned above. New reference guides and industry changes are happening all the time, and the best way to stay on top of it all is to follow trusted and reputable blogs in your space.

Expert Tips for Hiring a Professional Accountant

Handling finances can be taxing and it does cause a lot of headaches for the uninitiated. To make matters worse, you can make serious mistakes if you do this on your own without experience. As such, hiring an accountant is often the best option for us who aren’t that good with numbers.

Don’t just hire an accountant though. You need to have a lot of standards. Here are a few tips before you begin looking for one.

Hire Certified Accountants 

This is the most important part of hiring an accountant. Any professional worth his claim should be certified first. It’s not enough to have a degree in accountancy as there are standards that accountants need to meet before they can be fit for work, be it for a company or for a private person.

 

These accountants are called Certified Public Accountants or Chartered Accountants. Chartered Accountants (CAs). They are well-trained and well-experienced professionals who are the best your money is worth when it comes to hiring. You are guaranteed quality service from them.

Take from Trusted Firms

There are many firms that can help you find a good accountant. If you want to be on the safe side, https://larsco.com/ suggests that you get your accountant from them. Such firms only hire the best to be under their payroll so you’re definitely getting a good one.

Aside from the fact that you’re getting experienced accountants, it’s also like insurance that you’re going to get the service you need when referring to these firms for help.

Get Referrals from Your Social Networks

If you have friends that are in the field of accountancy, then it would be a good idea to ask them for help. There’s already a built amount of trust between you and them so you know that you are going to get the right service that you need.

Alternatively, you can also ask for referrals from friends or family. If they have a good accountant to recommend, why not ask those people for help? What’s good about this is that you already know what to expect from the accountant as your social network already knows the worth of the professional they recommend.

Financial Analysis Is a Must

Accountants have a ton of financial skills under their name but if there’s one skill every accountant should have, it should be financial analysis. This refers to reviewing you or your business’s health and it is also one of the most useful services you can have from an accountant.

Financial analysis is a complex method that includes analyzing indicators such as gross profit margin, aging accounts receivable, and net profit. Your business can benefit from this as it will let you see whether or not your finances are right where they should be. Doing so also means adjusting your business as deemed necessary.

Hiring an accountant is a major step for your business. You should only hire the best of the best because that’s what you deserve. Of course, hiring the best accountant doesn’t just help with your financial stability, it helps you set up for financial growth as well.

Expert Tips on How to Start a Successful Business in 2021

If you are considering starting a business, you need to know exactly what you are getting into before you dive in headfirst. Just because the internet has made it extremely easy and affordable for anyone to get started, don’t confuse this with it at all being easy.

While it may seem like a golden opportunity to do what you have always loved, and it definitely can be, you should also know that there is a lot of hard work that goes into forming your own company.

With all of this in mind, today we are going to highlight some great some tips on how to get started with a business of your own, while also planning out the launch and thought process before getting started.

Do What You Love

If you are not passionate about what your business is going to be about, then you are facing a recipe for disaster. While you won’t be in love with every single aspect of your business, you do need to be excited about what you sell and what the company represents.

Have a Formal Plan

You need to sit down and develop a formal business plan. Not only will this help you, as the owner, stay focused but any financial institution that you are trying to get a business loan from will also require one. They aren’t going to give money to someone just because they have a great idea. You have to prove why it is a great idea and how you are going to bring it to fruition.

Clean Up Your Finances

While you are pursuing a bank for business finances, you also need to make sure that you get your finances in order. You certainly do not want to be stressed about incoming bills while you are trying to get your company off the ground. You also want to make sure you have enough extra money for your business in case of an emergency.

To help clear up your personal financial situation quickly and easily, contact a private lender who can give you a personal loan.

Don’t Quit Your Day Job

Don’t hang up your hat at your old job before you open your new business. There will be most assuredly a lapse between when you start your company and when you actually start turning a profit. While maintaining a full-time job at the same time as opening a business doesn’t sound like a whole lot of fun, you’ll have to suck it up and just do it because you can’t really live without money.

Start Looking for Clients Right Now

It seems rather silly to open a business when you have zero customers to start with so you should probably avoid doing so. If you are fresh from college, you may have contacts from when you were networking throughout classes, clubs, and sporting events.

If not, frequent forums where people who are already in your industry tend to congregate and spread the word of mouth out working for you.

Get Started with a Blog

One of the best ways to get started with a business online, is to actually get started. And an excellent way to put all of this in motion, is to register a domain, set up your web hosting and then going live with a WordPress site of your own.

This will allow you to actually understand the content creation and promotion process, without having to put out a lot of money and stressing over every step on the process. To learn more about how to get started with a blog of your own, be sure to read through this quick and easy reference guide.

Seek Out Help

As much as doing everything yourself may seem like you are dedicated, you simply cannot be an expert on everything. It definitely pays to hire people like accountants or lawyers to guide your decisions in those regards. You may even want to contact a business coach or mentor to help you in the beginning.

How to Improve Your Chances for Business Success

On the internet, anyone can get started with a domain name, website, ecommerce store or even a social profile in a matter of minutes. And while it may seem extremely fast and easy to get live with a business online, it also leads to a lot of clutter and competition as well.

This is why it’s so important for new entrepreneurs and business owners to actually put in the time and effort to study their business idea and niche market before getting started.

To find success online, it’s not about re-inventing the wheel — it’s about creating the best user engagement and giving the best value possible.

If you can figure out a way to do better than what’s currently out there, you will be much more like to find success, versus trying to start something from scratch with zero testing and promise.

The Power of Mentorship, Expertise and Blogging in 2021

No matter your passion, expertise or goals in live… when you start to share those feelings and emotions with others, it resonates with them as well.

This can be for pretty much anything in life. However, more often than not, it gets more emotional and personal when it’s relevant to a lifestyle, goal or challenge we may personally be working on.

With this in mind, once you find what you are great at and start sharing it with the rest of the world… that’s when the real magic starts!

Today, we are going to highlight three different entrepreneurs and industry experts that took their own expertise and passion for business, branding, investing and teaching others… then expanded into much bigger roles as world influencers, teachers and mentors.

Let’s get started!

Timothy Sykes – Stock Market and Penny Stocks

If you’ve ever done any research online for the stock market or investing in penny stocks, then you will have likely come across the name “Timothy Sykes” — and also that he is known for turning $12k into more than $6.7 million.

While investing in penny stocks was how it all started for Tim, now his bread and butter comes through the brand and business that he’s built up over the past several years as a result of teaching others how to accomplish the same.

And like many others, this journey started out with a blog and social media, while also highlighting his many failures and successes — and of course including amazing photography of the various places he’s been day trading around the world.

Today, Tim has a network of investing and education sites, live events and conferences to attend, and online courses and subscriptions for all of his students.

Now let’s highlight how Tim is using each of these three methods to grow his brand, reach and business.

  • Mentorship – Online courses and coaching programs
  • Expertise – Everything related to penny stocks
  • Blogging – Daily posts on his blog and social channels

 

Gary Vaynerchuk – Brand Marketing and Agency Services

Of the many different examples of successful individuals we could cover when it comes to creating content, sharing their expertise and being a mentor to others, Gary V likely would be the most well known.

What’s quite amazing about Gary’s journey, is that he’s not only found success time and time again (whether it be in Wine, social media, investing or branding), but also that he is inspiring others throughout the process.

A perfect example of this can be seen through his podcasts and video interviews where he discusses his passions for flipping products and finding garage sale deals. This isn’t making him a ton of money, but it’s motivating his audience, getting them started and growing his brand loyalty and following in the process.

Now let’s highlight how Gary is using each of these three methods to grow his brand, reach and business.

  • Mentorship – Through personal coaching but mostly social media content
  • Expertise – All forms of marketing, but enforcement of putting in the work
  • Blogging – Gary Vaynerchuk blog, Medium and top social platforms

Ashley Alderson – Boutiques, Ecommerce and Networking

Not every example of success and fame needs to be well-known of backed up by millions of dollars in wealth. This is the exact story behind Ashley Alderson, who has become quite the coach, influencer and success story in the niche market of unique boutique shopping.

While it may seem small at first, the truth is… the more you niche down the better. Then as you continue to show off your expertise and passion, while growing a brand in the process, then you can really start and see what’s possible.

What started out small, is now a large company with staff, and also influencing and motivation thousands of members around the world. The Boutique Hub, founded by Ashley, is for all boutique types, apparel, accessories, beauty, decor, and with all selling types from e-commerce, brick and mortar, mobile to social

Now let’s highlight how Ashley is using each of these three methods to grow his brand, reach and business.

  • Mentorship – Through a massive network of users at The Boutique Hub 
  • Expertise – Personal, business and life expertise that relates to her audience
  • Blogging – Main site, blog, media interviews and top social platforms

How to Grow Your Own Brand or Business by Sharing Your Expertise with Others

As you can see from each of the examples above, when you put in the time and effort to share your expertise, talents and passions with others, you can really grow into quite the brand and business of your own.

With the internet now making it easier than ever to get started with a site, brand or business of your own, what are you waiting for?

Be sure to follow each of the examples above on both their social media channels and websites or blogs, as they will not only keep you inspired, but will also teach you how to take advantage of such platforms and networking methods as well.

 

 

Starting Your Business Career: Tips for New College Graduates

The day you’ve dreamed of has finally come, you’ve graduated from college, and you’ve accepted your first full-time, grown-up job. What happens next?

Is it time to jump into the workforce, further your education even more, or immediately take the first job available and try to pay down your college debt

With so many different options available, how are you supposed to know which is best? The truth is, everyone has their own path and the decisions you make at this point must be decided by you and only you.

However, there are several resources out there that can help you out in this decision process. And we hope this article can provide you with a little bit of guidance as well.

Read on and discover how the steps below can help you make the adjustment from student to employee and thrive in your new position.

Create a Budget and Pay Down Your Debts

One thing you don’t want to worry about in your first year on the job is not having enough money to meet your expenses. If you budgeted in college, this is one of the reasons why, so it wouldn’t seem so unfamiliar once you were out in the working world.

However, even if you didn’t, you can learn. You know what your salary should be, so your next step is to assess all of your expenses. If you have student loans to repay, keep in mind that there may be money saving options.

You can use a calculator to see what your savings can be if you refinance or aggregate multiple loans. As for the rest of your budget, make sure that in addition to necessities, you are putting away some money in your company’s retirement plan and building an emergency savings account.

Have Realistic Expectations

You are in an entry-level position. This means that you probably won’t get the most interesting tasks and your duties might not even resemble what you ultimately hope to be doing in your career.

Few people have a thrilling job straight out of college. Focus on what you can learn, communicating effectively and having a good attitude.

And at the same time, don’t dismiss the power of the internet and how it can instantly put you ahead of the competition. Even by just registering your personal name as a domain name and going live with a simple little blog, this could be the difference between getting hired or passed over.

Remember that you are part of a team now, and what you do affects your coworkers. It’s also a good idea to be observant in those first few weeks until you get a better sense of the culture in your office.

Keep Networking

The work relationships that you build may be the most important element for success in your career. If you networked through college, this is no time to stop.

If you didn’t take part in networking, it’s time to start. And just like we highlighted in the previous point, the internet can make this process a whole lot easier.

If you aren’t currently on LinkedIn, make sure you get on it immediately. Start to build out your profile, resume and expertise, while also connecting with others in your industry. You never know who someone might know, and being well connected on LinkedIn is a huge asset to have.

You can do this both in person and online by taking opportunities to join any professional organizations, attend seminars and connect with other alumni from your college who are also in your field.

Have a Plan

Where do you hope to be in one year, five years or even ten years?

The most successful people are those who specifically identify what they want and go after it. And this all starts right when you graduate from college and start to build a story and path for yourself.

If you want to climb the corporate ladder, find out what the best way to do that is. If you hope to gain the experience that will get you a foothold elsewhere, learn as much as you can about the place you eventually want to be working for.

How to Make the Most of Your Time Right Out of College

Throughout all of this, keep up your networking and be sure to center people in whatever you do. There’s a difference in being competitive and getting ahead by undermining or hurting other people.

There may be a few cutthroat business environments where you can get away with this for a while at least, but in general, people will remember you and recommend you for promotion if they feel you are an asset to their team and not someone who is only out for themselves.

Effective Employee Training Tips for Long Term Success

With more businesses and organizations changing the way they conduct business in the world today, it’s important for them to implement the necessary training and online accessibility that employees need to complete their daily tasks.

As we continue to see more businesses focus their efforts on ‘work from home’ and teleconferencing, the idea of including employee training through similar methods is catching on as well.

To better understand the importance of employee training within the workplace and how businesses and brands of all sizes can start incorporating such methods, we will be highlighting some of the many benefits and reasons why employee training is now more important than ever before.

Employee Training that Works for Your Employees and the Business

Before going live with your own internal training courses, content and videos, it’s important to know who you will be training, the key goals in mind and making sure that your material is going to work for not just the employees and team members in your organization, but also for the good of the organization as well.

As highlighted in this recent article from Entrepreneur, employee training shouldn’t just feel like a requirement, but instead another growth mechanism for the business in general.

Don’t implement a training program just to go through the motions. That’s likely a colossal waste of time. Instead, set clear goals for what each employee should know and be able to do at the end of the training program.

To best accomplish this, you will want to make sure you have clear goals in mind before getting started. These should largely depend on the state of your company, and the specific roles that you are looking to fill.

By knowing who your new hires and what they should be getting out of your training, will allow you to create course and training material that works best for the business and your employees.

With this same mentality in mind, you also want to tweak and improve your training material as the growth and focus of your organization changes over time. After all, you wouldn’t want to be training your new hires today with the same information as you would for new hires in a few years from now.

Employee Training Sets Everyone Up for Continued Success

While the idea of setting up such training and having your team members and employee go through such training might not seem that exciting to either side, the truth of the matter is that it works quite well.

This is especially true for larger businesses and organizations that will be hiring a lot of people to fill the same roles, while also preparing them for higher responsibilities down the road.

Through the use of online training or individual courses, the process of training employees can be replicated and automated, without the need to have another team member spending their valuable time in one-on-one training sessions.

This is also something Indeed has continually talked about in their training resource guides.

Training programs can also help prepare employees who are moving into higher roles and taking on more responsibilities in an organization. These programs will help them learn the skills that are required to function effectively in their new positions. For example, they may be trained in leadership skills or in a specific software they will use in their new role.

At the same time, with all employees and team members going through the same training, there is no excuse for everyone to not be on the same page.

In the end, the benefits of setting up online training and video courses for businesses and brands of all sizes, is a win-win across the board.

Training to Expand the Growth of Your Business Team

When Fortune 500 and Enterprise organizations are hiring, they are often looking to bring in new people that are going to grow with the company and not leave within the next couple of years.

Through the use of advanced training options, the process of improving the skills, knowledge and expertise of employees can grow and be implemented at a much faster pace.

By offering advanced training to team members and employees, this will not only allow for a faster and improved training process, but it will also allow for individuals to improve their skills and expertise on their own time and pace.

How to Get Started with Your Own Employee Training

As mentioned throughout this article, in order to create the best training possible, you need to know what your employee and business needs are before getting started.

With so much focus on this topic lately, Forbes recently touched on this process and recommended doing the following before getting started.

  1. Create a plan
  2. Host regular training sessions
  3. Use employees as trainers
  4. Cross train workers
  5. Set training goals

No matter what course material or training platform you intend on using, all of these preparation tips can be done before any of the content and training is created.

Lastly, in order to get the most out of your training course, platform and efforts, you need to provide your employees with the necessary tools and resources.

This means not just handing course material and training off to them and then leaving them in the dark, but also following up and providing advanced support and training in the months and years to come.

How to Prepare a 1099 Form as an Independent Contractor

If nothing, this year has taught us that we should be prepared for different and sudden changes. It has hit a lot of aspects of our lives, including 1099 forms. This information is especially important for people who are either contractors or have hired someone who is.

If you are just getting started or your company is contracting outside help, then you are probably familiar with the IRS Form 1099. Maybe you do not know every single detail about it but you have probably at least heard of it.

To many, it sounds too complicated. Something that requires too much time, but actually it’s not really the case. If you have the right tools and processes in place, you can actually be done with it faster than you think.

If you are not sure where to begin and how to prepare it, we will give you a list of things that might be helpful to you. You need to take care of the basics before doing anything else, so let’s begin!

What Does This Form Represent?

Starting From Scratch

Before we start explaining the preparation, let’s first learn more about this form. So, if you hire someone, for instance, a gig worker, a freelancer, or anyone else and you pay them more than 600 US dollars then you are obligated to prepare and issue an IRS Form 1099-MISC.

Why does that matter? It has to be done, so they can file for an income tax return. Furthermore, this document is used by small businesses, independent contractors, or any other individual that isn’t an S or C-level corporation. 

They use this document to report how much they’ve earned as well as determine how much they will owe. It’s important that you send out this form to anyone you’ve hired and paid more than 600 US dollars. Moreover, this also involves LLCs or any partnership you have contracted.

How To Prepare It?

Track Your Records

The first step you have to take during this process is to gather all the information you have about your independent contractors. You probably remember that you have filled out the Form W9 before you have hired anyone.

This form should contain the name, the address, and Social Security Number (SSN) or Employer Identification Number (EIN). It would be advisable to see if that person has changed any of this information before you continue with the process. 

Acquire The Forms

It may seem logical that you should just find the paper forms on the internet and simply print them out, but unfortunately, that’s not how things work and the IRS would definitely not accept them. You need to get the official 1099 forms from the real source. Where to go?

1 – From your payroll software provider: For example, you can utilize an accounting program such as FreshBooks.

2 – From the IRS: Go to their official website if you want to obtain this form or you can just contact 1-800-TAX-FORM (1-800-829-3676).

3 – From an accounting corporation: Most local accounting companies have a plethora of these forms. Buy it from them.

4 – From an office supply store: Find the nearest office supply store and see if they have it. They usually do.

Calculate Your Deductions

To many, this seems like a never-ending process. Creating a list of 1099 deductions is a bit exhausting, but you simply must calculate them. Start by deducting any costs that are classified as “ordinary and necessary”.

This means that you need it to do your tasks and it is also an expected part of your job. Further, there are some expenses that you shouldn’t count as deductible, such as acquiring expensive business clothes.

Besides this cost, other common expenses involve things like gas to drive people, any brand-new software or computer, as well as electricity expenses if you are working from home.

Anything Else?

Complete The Forms

One of the first steps you have to take is to determine the gross income for the last tax year. This shouldn’t be anything too complicated. Just add up the amount on each 1099 form you have.

The second thing that must be done is to utilize Schedule C to add up all your deductible business costs. That means that if your costs are less than 5,000 US dollars, plus you do not have any workers and you are not deducting for your office at home, then you can freely utilize Schedule C-EZ. This option is much more efficient and faster.

Make sure you have obtained form 1040. This one is important because you will have to write down all your expenses on it to uncover your net income. This form comes with the table that contains instructions as well as your net income. They should help you determine how much you owe in state taxes and income.

After you’re done with this, ensure to calculate your Social Security and Medicare contributions. The rate for 2017 is 12.4% of your income for Social Security and 2.9% for Medicare. Add these amounts on form 1040 and also add them together to determine your self-employment tax total. 

Send The Forms To Vendors

Don’t forget to send a copy of the 1099-MISC forms to all your contractors. Do it as soon as you can to give them enough time to include it in their personal tax returns and report their yearly income. It’s important to respect the deadline, because if you don’t, the IRS may penalize you with fines.

Submit The 1099 Forms

There are two ways you can do it. First, you can do it by sending them via e-mail. This is the most common way. You should do it no later than January 31 of the year. Make sure to incorporate the 1096 form as well.

The second option is to do it online, through the IRS’s online submission service by utilizing the Filing a Return Electronically system (known as FIRE). This shouldn’t be too complicated for you to do.

Wrapping It Up

All these things that we named probably seem a bit too scary for you. But don’t worry, it only looks like this because we wanted to make sure that everything is listed and that nothing is forgotten. Of course, this requires a bit of your time and effort, but it’s doable, just like everything else.

Quick Tips for Starting Your Own Online Masterclass

People love to learn, especially how to make lots of money. And that is why you might want to consider creating your very own online masterclass where you can share your own secret sauce to greater profitability.

It might seem easy, but there is a lot to consider when it comes to creating an online course that attracts the right audience. At any rate, the path to becoming a thought leader in your industry starts with how you develop a highly engaging online masterclass from the ground up.

Here are a few tips to help you get started:

  1. Choose a relevant topic

The first thing you need to do is to identify what it is you want to teach. Your masterclass course should be relevant to your industry. So, if you are in the e-commerce business, you might as well teach the topics your audience would love to know, such as building a business plan and creating an effective e-commerce website. It’s also important to pick a topic that’s in-demand. For this, you can check out sites like Quora or do a manual search on Google to find possible topics to include in your masterclass.

  1. Come up with enticing value propositions

Once you have picked the best course topic, you need to make people realize how valuable the topic is to them. For this, you need to present the goals, outcomes, and benefits of the course. If you are going to discuss how people can triple their profits in just a matter of months through digital marketing, then make this proposition the highlight of your course. One way you can go about this is to present a current problem and the kind of result they will achieve if they take your masterclass. 

  1. Build a funnel

Now that you have come up with a solid course for your masterclass, you will need to set up a system for attracting, nurturing, and converting people who are very likely to sign up. For this, you need to build a sales funnel that includes specific types of content for promoting your masterclass and sending follow up information. You can consider providing a sample recorded class as well as downloadable content such as e-books. You might want to use platforms like ClickFunnels to design landing pages and automate your social media posts and email send outs.

  1. Publish awesome content

It’s one thing to attract people with enticing content about your masterclass, but you still need to make the actual learning experience engaging and relevant to your audience’s needs. That said, you need a mix of videos and downloadable content to deliver the value that you want to convey through your masterclass. Otherwise, you would risk losing students or having to deal with refund requests. So, focus on delivering the goods and everything should flow smoothly!

How to Create Awesome Online Master Classes

The most important thing to remember when trying to come up with the best content for your masterclass, is to provide as much information and value as possible. However, try not to push content out there just for the sake of it. You want to make syre there is a solid mix of content and value, while not overwhelming the end user, but also letting them know they got their money’s worth.

Be a thought leader of your industry. With a carefully crafted masterclass, you can reach out to people who want to learn your secrets, become long-term partners, and build their own online courses for all we know!

5-Step Formula for Women to Bring their Business Ideas to Life

If you have a great business idea, then it’s important you find creative ways to bring it to life. This is the only way you’ll see your dreams come true so it’s time you need to take action immediately. With that said, I’m surprised at the amounts of women who have awesome ideas but don’t have the resources or know-how to take their idea to the next level. 

Over the years, I’ve worked with many women helping them start a business, while also teaching them how to better show off their expertise and passion. For many women that were already in the workplace, but looking for a better job or position, it was also important to show them the importance of having a great online profile and personal resume. Sometimes it’s not just about the continued education and work experience, but also using the right action verbs and showing off your expertise in the right way.

Whether its through a traditional resume, a social profile or even an established business, it’s important to make sure you understand what your goals are and knowing how to attain them. and would love to share some of the advice with you. I believe if you have a clear path on what to do, you’ll be able to build your business and make your dream come true sooner than you think.

Today, we’ll be looking at the following:

  • Research
  • Getting started online
  • Design
  • Marketing
  • Outreach

Research

For your idea to come to life, you need to know who your audience is so you know if you have an actual market. Many ideas fail because there simply isn’t a market for the idea of the audience is way too low. With no one reading your content or purchasing your product, you’re going to have a hard time engaging people and increasing sales. The good news is you have a free way of starting your research through Google search. I like to type in a keyword related to my idea and see what type of search results pop up. If you have several sites show up in the search results, then you know you have a popular idea and will be able to make money from it. 

I know many of you get nervous when you see others already doing the same thing as you, but I love it because it gives me a chance to learn so much from them. By studying your competition, you’ll be able to find out about your audience, what marketing methods work, what you should focus on in terms of products and content. Once you have done your research and know you have an audience, you can move onto the next step.

Getting Started Online

It’s time you register a domain, and this can be done on sites like GoDaddy.com. I recommend choosing a domain which represents your brand and is no more than 8-12 characters. The shorter the domain, the easier it will be for people to remember, and this means they won’t have a problem coming back to your website. 

Once you’ve registered your domain, you can purchase hosting so you can go live with your website when it’s time. The hosting package will depend on the type of business your running, but I would recommend starting with a simply shared plan. This is very affordable and allows you to upgrade as your business continues to grow. I know when starting a business, the costs can get very high so it’s better to always start with the lowest possible plan and upgrade after. With your hosting plan, you’ll be able to install WordPress which is a free platform used to build websites. There is an installation tutorial in the backend, and it doesn’t take more than a click of a button.

You have your domain, hosting and WordPress installed. Before you start thinking about a design, I would watch a few tutorials on using WordPress if this is your first time. There are a lot available online and on YouTube. You have access to many free themes but before designing think about the following –

  • Your main colors
  • Your purpose
  • Layout (visit other websites to research)
  • Font
  • Navigation

Design

The design of your website will either increase or decrease engagement so it’s important you do your research to get it right. One way is to study your competition and see what they have done with their website. They’ve been around longer so I’m sure they know what works and what doesn’t.

Just like how we referenced the importance of creating a professional resume or online profile that can help you stand out from the crowd, the same can be said about your website or blog. It needs to look professional and grab the interest of the user, while also gaining their trust in the process.

Visit 2-3 competitor blogs and take some notes on their design before implementing them into your site. Here are a few things I know work very well –

  • Font – make sure the font you are using is very easy on the eyes. The more readable, the more engagement you’ll get because visitors won’t leave. 
  • Color – use colors that are easy on your eyes because hard colors push people away. I’ve been on so many sites for only a few seconds because the colors would be too hard to look at.
  • Right sidebar – this is the best location for the sidebar because people are used to it. Right sidebar has become accustomed for many bloggers and readers expect to see the sidebar there. This is a great place to add banners, recent posts, new products and services. 
  • Top navigation – have the menu at the top because this is the first thing you want people to see. They’ll be able to explore options and navigate to where they want to go. 

Marketing

For any business to be successful, you need to find creative ways to market it. But, the internet has expanded your options greatly so start exploring what’s available. I recommend starting with social media marketing because you can increase brand awareness for very cheap. I’ve advertised on Facebook for a penny a “Like” and this has gone a long way to building brand awareness. To further increase your loyalty, you should create a brand page so people can join and follow. 

You should also do a quick search on Google, and read resources on other marketing channels because there are a lot of good ones available. I would recommend the following which I have tried and tested –

  • Social media (Facebook)
  • Adwords.com
  • Bing.com
  • Media Buys

It’s all about trial and error because some will work better than others. Make sure you try each one for 30 days and keep track on the statistics. By doing this, you’ll know which traffic source has brought the best amount of traffic and what channels convert. Marketing can get expensive so make sure you set a monthly budget so you don’t overspend. I like to set a budget of $3.00-$5.00 per day, and I’ll let it run for 30-60 days.

Outreach

One of the best ways to build your brand quickly and it costs nothing. This requires a lot of effort because you need reach out to other bloggers within your niche. It’s a mutually beneficial relationship because you are both promoting each other’s business. Imagine reaching out to a fellow blogger who has 100,000 twitter followers? This can generate a lot of traffic in a very short time. Start by creating a list of blogs within your niche and getting in touch with the owner. It helps to interview them or create content based on their brand because this increases the likelihood of them sharing your website afterward. The key is to contact them genuinely and let them know what you are trying to do so you can work out an agreement helping each other.

The best way to do outreach is to not give up after contacting a blogger the first time. Sometimes, you’ll hear from the blogger right away, and other times you’ll have to do a quick follow-up. 

Final Thoughts

If you have a great idea and you want to bring it to life, then follow the steps outlined above. These are proven steps and I’ve worked with women in the past setting up blogs, doing research and marketing. Try out different things and stick to what’s working for optimal success.