Not working? Do what you have always wanted to do

Okay, so you are out of work.  You check the paper, you talk to friends, you go on the internet and do everything you are supposed to do.....fill out applications, submit resumes, go on interviews.

What have you always wanted to do?  You are not working now so let's examine other possibilities than working for someone else....at least until you find a job.

You know what your passion is.  Now what do you do with it?  You move forward with your idea.  You can still check the paper, talk to friends, go on the internet, fill applications, submit resumes and go on job interviews but NOW you have a backup.  Or is it a backup?  Maybe while you are planning your backup you decide that is the direction you want to take.

Rob Spracklin 

Who are your competitors?  Once you have determined who they are can you compete with them?  If you have a WalMart on every corner it may be difficult to open a store that sells a little of everything.  

Are you going into a service type of business?  If so, do you like people?  If you do not like to interact with people the service industry is probably not for you.

Okay, so you now have an idea of what you want to do.  Now let's take a look at what the IRS's definition of what a business is:  

The Internal Revenue Service reminds taxpayers to follow appropriate guidelines when determining whether an activity is a business or a hobby, an activity not engaged in for profit.

In order to educate taxpayers regarding their filing obligations, this fact sheet, the eleventh in a series, explains the rules for determining if an activity qualifies as a business and what limitations apply if the activity is not a business. Incorrect deduction of hobby expenses account for a portion of the overstated adjustments, deductions, exemptions and credits that add up to $30 billion per year in unpaid taxes, according to IRS estimates.

In general, taxpayers may deduct ordinary and necessary expenses for conducting a trade or business. An ordinary expense is an expense that is common and accepted in the taxpayer’s trade or business. A necessary expense is one that is appropriate for the business. Generally, an activity qualifies as a business if it is carried on with the reasonable expectation of earning a profit.

In order to make this determination, taxpayers should consider the following factors:

• Does the time and effort put into the activity indicate an intention to make a profit?
• Does the taxpayer depend on income from the activity?
• If there are losses, are they due to circumstances beyond the taxpayer’s control or did they occur in the start-up phase of the business?
• Has the taxpayer changed methods of operation to improve profitability?
• Does the taxpayer or his/her advisors have the knowledge needed to carry on the activity as a successful business?
• Has the taxpayer made a profit in similar activities in the past?
• Does the activity make a profit in some years?
• Can the taxpayer expect to make a profit in the future from the appreciation of assets used in the activity?

Do you have a business plan?  Mission or Vision Statement? Marketing Plan?

Think about it.  What have you got to lose....you aren't working now anyway.  You may just find yourself getting excited again.

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What makes you successful?

Some say it is luck:  I say to be successful you have to create your own luck.


Some say it's the right idea:  I say you do have to understand your market but you can make any idea work with hard work.


Some say you have to be "smart:"  I say you don't have to be "smart" you just have to work smart.  If you don't know something than you hire those who do.  If you are not good at something than you hire those who are.

The bottom line what separates the successful business from the unsuccessful business (elimating the economy) is the WILLINGNESS TO WORK. 

Willingness to work encompasses so many aspects:

1. If you own or run your own business you will work harder and longer hours than if you work for someone else....this is a fact!
2. Willingness to change throughout your business.  Trial and error is a part of owning and running your own business.  What works today may not work tomorrow so you have to be willing to adjust how to approach it.
3. Here is the important one:  You have to understand that you cannot do it all by yourself and you have to be willing to reach out when you need it.  More often than not when a business is struggling they cut back on spending...which makes sense in the short run.  What happens is when you cut back you end up doing more.  When you do more you become more tired and less likely to focus. 

If you find yourself struggling, needing help, need more clients, whatever the situation may be get help sooner than later.  It's easier and less expensive to hire someone to "revamp" your business and get it back on the right track than it is to "overhaul" the entire business.

No one can do everything.
No one specializes in all areas.

It is okay to realize this about yourself and it is definately okay to find the best to help you succeed.  One of the best things about owning or running your own business is doing what you LOVE to do.  don't let the little things distract you from what you love!  When this happens those little things turn into big things and can destroy your business, your passion and your drive.

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Being your own boss

Ever wanted to be your own boss?  Have that dream of opening your own business? 

Have you ever watched "Business Owners" out playing while you were working? 
If you have ever seen this, business owners are the hardest working people in the market today, it is because they have hired someone to take care of the parts of the business that make you successful.

As a business owner I can tell you this:  yes there are days I don't do anything BUT there are days that I work 18 hours a day, six days a week just so I can enjoy that one day of nothing.  And let me tell you this, as a business owner:  Your mind never shuts off...so if you see me enjoying a nice lunch with friends...my mind is still working on work.  It is a crazy life...UNLESS...you have someone in your corner to help you succeed.

BXX Group is just that! 
They work hard for YOUR success!  Their experience makes your "oops" not happen.  "Been there done that" is something they have learned the hard way.  They can adapt to all businesses and will make YOUR business as important to them as it is to YOU.

So before you "jump in" Call BXX Group for a free initial consultation to understand what it will take to run your own business and be your own boss.  It is a great job to have if you have the support of BXX Group.

BXX Group also helps existing business become stronger!  If you are currently "your own boss" and your boss is not getting things done....Call BXX Group!

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Don't stress, stay focused

We've all heard it...stress can kill you.  Stress causes so many heath issues and any health issues cost money.  Not only the money that you pay the doctors but also the money lost if your business suffers from stress. 

The Mayo Clinic has a stress assessment that can help you determine if stress is a factor in your life.  It is essential that you speak with your doctor about stress!

If you own your own business you understand stress.  You stress about visibility of your business, you stress over payroll, you stress over state and federal regulations...let's face it...owning your own business is STRESSFUL!

BXXG is here to help you relieve some of your stress.  If you don't like to do it, if you don't understand it or if you just don't have time to do it let BXXG do it for you. BXXG are accomplished and willing to share their knowledge. They have a variety of services that are an asset to any and all companies. Their services include but are not limited to:

• General Business Oversight
• CEO/COO Services
• Business Structure
• Family Owned and Small Business Expert
• Employee Retention and Evaluations
• Insurance Coverage to meet statutory requirements and asset protection
• Workman's Compensation assessment
• Business Plans, Mission Statement, Vision Statement
• Marketing strategies, Branding Advertising
• Financial Analysis and Bookkeeping Systems
• Contract Negotiations
• Information Security and Identity theft
• Hazardous Procedures and Plan of Action
• MSDS requirements
• Safety Plans
• Business Operations
• Operational Efficiency
• Energy Audits and Recommendations
• Identify and develop new products, services and markets
• Employee Management Training
• Succession Planning

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Business Appearance

Let BXXG do the heavy lifting of starting your new business!

I'm not talking clothes....I'm talking about what is advertised, given and provided that will "impress" your audience; Branding.  This includes business cards, brochures, logo, stationary and much more. 

You want this to attract your clients.  It has to be as impressive as you would be if they were talking to you. 

Here's what commonly happens:  You decide to start your own business, you are excited so you rush to get business cards, stationary, brochures, etc. completed.  OOPS.  It's not that you cannot change them, you can.  Branding is expensive if it is not done correctly.  I have never received a client from a business card....so why get them, right?  What I have received are clients from previous clients who have kept my card and passed it on.  Other benefits are networking.  If you are talking to another person, business, etc. who can help send clients to you...they need business cards, flyer's, brochures, etc. to give to potential clients.

When you speak to someone about your business and get them excited about your business it is essential you leave them something about your business.  The reason for developing fantastic branding material is the client who this person gives your information to wasn't there when you got them excited.  This will be your first impression to this potential client.  Yes, the person handing them your card may be excited telling them about you BUT this is YOUR business and you cannot expect others to be more excited than you are.

Rob Spracklin 719-240-9180

If you are thinking of starting and, yes, investing your money into a new business it is essential to start it up right.  That is exactly what one of the many services BXXG does...It assists you with Branding and Advertising.  Call Rob today to get a free consultation on what your new business needs to get started off on the right foot.

Starting a new Business?

Are you thinking of starting a new business?  If so there a few things you should know. 

What type of business do you want to do?  This has to be something you love and are good at.

Do you have the qualifications to earn the respect in your field?

Who are your competitors?  Once you have determined who they are can you compete with them?  If you have a WalMart on every corner it may be difficult to open a store that sells a little of everything.  

Are you going into a service type of business?  If so, do you like people?  If you do not like to interact with people the service industry is probably not for you.

Okay, so you now have an idea of what you want to do.  Now let's take a look at what the IRS's definition of what a business is:  

Rob Spracklin 

The Internal Revenue Service reminds taxpayers to follow appropriate guidelines when determining whether an activity is a business or a hobby, an activity not engaged in for profit.

In order to educate taxpayers regarding their filing obligations, this fact sheet, the eleventh in a series, explains the rules for determining if an activity qualifies as a business and what limitations apply if the activity is not a business. Incorrect deduction of hobby expenses account for a portion of the overstated adjustments, deductions, exemptions and credits that add up to $30 billion per year in unpaid taxes, according to IRS estimates.

In general, taxpayers may deduct ordinary and necessary expenses for conducting a trade or business. An ordinary expense is an expense that is common and accepted in the taxpayer’s trade or business. A necessary expense is one that is appropriate for the business. Generally, an activity qualifies as a business if it is carried on with the reasonable expectation of earning a profit.

In order to make this determination, taxpayers should consider the following factors:

• Does the time and effort put into the activity indicate an intention to make a profit?
• Does the taxpayer depend on income from the activity?
• If there are losses, are they due to circumstances beyond the taxpayer’s control or did they occur in the start-up phase of the business?
• Has the taxpayer changed methods of operation to improve profitability?
• Does the taxpayer or his/her advisors have the knowledge needed to carry on the activity as a successful business?
• Has the taxpayer made a profit in similar activities in the past?
• Does the activity make a profit in some years?
• Can the taxpayer expect to make a profit in the future from the appreciation of assets used in the activity?

Do you have a business plan?  Mission or Vision Statement? Marketing Plan?

Are you still interested in starting your own business?  If so you may need some direction and/or help in accomplishing your dreams.  Wanting it isn't enough.  It is smart to surround yourself with people who have "been there done that" and can help you start and succeed.

BXXG is a consulting business that will do just that.  They are accomplished and willing to share their knowledge.  They have a variety of services that are an asset to any and all companies.  Their services include but are not limited to:

• General Business Oversight 
• CEO/COO Services
• Business Structure
• Family Owned and Small Business Expert
• Employee Retention and Evaluations
• Insurance Coverage to meet statutory requirements and asset protection
• Workman's Compensation assessment
• Business Plans, Mission Statement, Vision Statement
• Marketing strategies, Branding Advertising
• Financial Analysis and Bookkeeping Systems
• Contract Negotiations
• Information Security and Identity theft
• Hazardous Procedures and Plan of Action
• MSDS requirements
• Safety Plans
• Business Operations
• Operational Efficiency
• Energy Audits and Recommendations
• Identify and develop new products, services and markets
• Employee Management Training
• Succession Planning

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You don't need to pull the burden alone.  Call us for a free consultation on how BXXG can help you.719-240-9180

Keep following for more information of starting a new business

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