BY: NHM AKA NADYNEZWORLD
WHAT MAKES A PERSON A SOLE PROPRIETOR?
BY DEFINITION A SOLE PROPRIETOR IS
WAS FOLLOWS…
A person who is the exclusive owner of a business, entitled to keep all profits after tax has been paid but liable for all losses.
HOW DO WE GET TO THIS LEVEL! HERE'S A HOW TOO
In the United States There were more than 22.6 million sole proprietorships in the year 2008, and has tripled according to the Internal Revenue Service (IRS). Even though this particular type of business is easy to set up, it's also easy to ignore the local registration requirements and laws, business licenses, and paying taxes on your income. Which is definitely the beginning of the end for any business owners.
For example, a person begins a catering business from home unaware that the state has to actually come out do a proper legal inspection and permit the sale of any food items/perishables. Also a person has to be properly certified in understanding legal food temperatures, proper storage, shelf life and much more. Without the proper knowledge one can harm there consumer and be forced to take full liability in the event of the unforeseen occurrence. it could potentially devastate the business and the business owner! It is counter productive to not become as knowledgeable as possible before taking full responsibility or becoming a sole proprietor, it truly behooves you to educate yourself to capacity on all the laws required to be met in your line or field!
Now that we have the legalities out the way, lets get started…..
The first thing necessary I always say is a really great business plan, a start up budget and an unbelievable amount of organization! Be prepared for absolutely no rest!
It's not really spoken about but I believe that every individual should practice on there presentational skills and there vocabulary! A well spoken individual is more likely to grab attention and really set themselves apart in the world of business. So make it your business to learn a new word daily, proper pronunciation and definition! It helps, trust me!
The person who can sell there product with character and personality rather then with REDUNDANT SPEECH always wins.
I don't want to make this run on too long part two is in the works. I want you to complete your business plans, your estimated start up budget, a target market strategy and get ready for part two! Remember research is key, get your rules and regulations straight, be ORGANIZED!
SEE YOU ALL SOON…
PART TWO UP SOON
YOURS LITERALLY AND INTELLECTUALLY
NADYNEZWORLD AKA NHM
FOLLOW ME ON INSTAGRAM @NHMBLOGGER
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