Are you starting a business? Do you have a great product or service that you would like to share with the masses? Many people find themselves doing activities for other people, but the only thing that makes it a hobby, and not a business, is that the person doesn’t charge money for their services.
While many business ideas are often great ones, a successful small business takes careful planning. This planning involves raising money, market research, competitive sales and marketing strategies, and much more.
Unfortunately, not everyone is cut out to be a business owner. It takes a mixture of strong characteristics to be a successful entrepreneur. Before you invest a lot of your time, energy, and money, let us help. You can receive answers to many of your questions by just having one session with a business consultant.
Types of Businesses
Many individuals represent a company as an independent associate. This very popular entity enables a person to provide a service or product under the umbrella of a larger company. A contract worker typically receives no benefits from its company and is responsible for reporting all income to the IRS.
Are you starting a business? Do you have a great product or service that you would like to share with the masses? Many people find themselves doing activities for other people, but the only thing that makes it a hobby, and not a business, is that the person doesn’t charge money for their services. Have you already started a business but feel like you need more structure? We will help organize your business so that you can get paid doing what you already love to do!
Home-Based Businesses (HBB)
HBBs are great starter businesses. Typically, they don’t take a lot of money to start, and the overhead is usually very low. A home-based business could involve cutting lawns on the weekends to running a large internet business from a basement or garage. Some of the most popular HBBs are private franchises such as Mary Kay Inc., Pre-Paid Legal Inc., Tahitian Noni International, etc. These businesses allow you to become an independent representative of the company. No matter what the product or service, the one major thing that keeps them off the ground are CLIENTS. We work with HBB owners and show them creative and economical ways of attracting clients.
Once a business grows out of the home, the next step is to move to an outside office or storefront. This move can be very exciting - if done at the right time. A large number of businesses fail when transitioning from a small-sized to medium-sized business. Sometimes even the “right” location won’t help if one underestimates the cost of overhead. A business must anticipate a “getting use to you being here” mentality by the local community. We supply our clients with financially sound strategies in order to effectively take their business out of the home and into their market.
Real Estate Investors
Real estate is said to be one of the greatest investments. Unlike stocks, bonds, 401Ks, etc. which require that you use your own capital to invest, real estate is one of the only investment vehicles that allow you to use money borrowed from a bank. As cities grow, the value of land continues to increase. While these benefits are attractive, it is easy to overlook the negative aspects: scams, landlord/tenant issues, costly repairs, vacancies, and many more. These factors all contribute to many foreclosures and bankruptcy filings. FFG aids new investors by showing them the ups/downs of real estate. We enforce two main principles: financial stability and entry/exit strategies.
Investment groups are started by the coming together of like minded individuals that understand the power of leveraging. Leveraging resources like capital, credit, and financial knowledge are some of the greatest ways to work smarter, not harder - ultimately creating buying power. The down side to this scenario is typically the investment group’s ability to successfully manage the dynamics of its members’ personalities. Projects that involve more than one person often become very complicated. Careful planning, clear objectives, and a written agreement of the handling of the group’s finances are necessary for the group to achieve financial success. FFG helps our clients by doing an un-biased evaluation of the group’s organization and the contributions of each group member. FFG will propose an agreement that will satisfy everyone involved and achieve the group’s financial goals.
To schedule a consultation regarding your current business or business idea, contact us or call 678.921.2929.