Offline research is simply research by means other than electronic (e.g., personal computers, mobile devices, or tablets).  This method, though can be equally as thorough, is more time consuming and requires some foot work, possibly some travel.  Regardless of the preferred research method, there are advantages and disadvantages.  For this reason, it will be important to do some of both.  Some offline research methods include:

• visiting local public or college libraries and their bookstores;
• visiting local retail bookstores, even resale shops;
• subscribing to magazines or periodicals;
• joining relevant trade associations;
• conducting interviews of experts in the field and industry;
• conducting surveys with relevant individuals;
• attending local workshops, tradeshows or conferences;
• participating in networking events or forums; and
• viewing television or listening to radio programming.

 
Offline research requires locating and making personal contact with desired and relevant sources.  With this research method, you can literally reach out and touch potential customers or experts in your field or business.  It does, however, take a lot of time, but depending on the type of business you are in, it is imperative.  And more importantly, offline research can lead and guide you to other sources. 
 


Excerpted from, "The Start of Something BIG: Your Ultimate Guide to Writing a Dynamic Business Plan."

NAICS (pronounced “Nakes”), formerly known as SIC (Standard Industrial Classification), is a unique, all-new system for classifying business establishments by type of activity in which they are engaged.  This system functions as part of the U.S. Department of Commerce, Bureau of the Census (www.census.gov/eos/www/naics/).
 
The purpose of NAICS is to facilitate the collection, tabulation, presentation and analysis of data relating to establishments and for promoting uniformity and comparability in the presentation of statistical data collected by various agencies of the federal and state governments, trade associations, and private research organizations.  This is also important when filing your taxes so that your industry accounts for all the monies made under specific classifications.  This information is reported, made public and lets us know how much money an industry is earning as a whole or if that industry is in a decline.

NAICS reflects the structure of today’s economy in the U.S., Canada and Mexico, including the emergence and growth of the service sector and new and advanced technologies.  This six-digit system, in contrast to the four-digit system of the SIC code, recognizes important industries below the level at which comparable data will be shown for all three countries.  Below are the main categories for the publishing industry:
 
                                                                Division 51 - Information
                                                                511110    Newspaper Publishers
                                                                511120    Periodical Publishers
                                                                511130    Book Publishers   

When conducting research for your business and its associated industry, identifying the proper NAICS codes can give you the most accurate information on how your industry is faring.  This information can also prove very valuable when applying for funding for your business.  It will tell you which areas throughout the US, Canada and Mexico your products and services are most consumed if at all.  It may represent an opportunity for you to provide your products and services to those areas.

Excerpted from, "The Start of Something BIG: Your Ultimate Guide to Writing a Dynamic Business Plan."

Professional licenses are issued through the Secretary of State office in each state.  This office within the state department is legislatively charged to administer and enforce specific laws relating to the licensing and regulation of certain occupations and professions.   Licensure requires each applicant meet minimum standards (e.g., age, education, training certification, etc.) for their respective occupation or profession. 
 
There are 60 or more categories of licensure, and the majority of these categories include several individual license classifications.  Check the Secretary of State’s office in your state for a list that may include, but not limited to, common occupations and professions that require a license:

Whether your business is located in commercial space or in your home, you should occupy space that enables you to function comfortably, professionally and efficiently.  Your workspace doesn't have to be large with room to turn somersaults, but it should definitely be enough room where your legs and arms are erognomically positioned, and furniture and equipment are adequately placed and spaced.  When you are not concerned with the comfort of your workspace, you are able to focus on each task at hand and be more productive.

To answer the title question, take a birdseye view of your workspace and answer the following questions.  Is/does your workspace:

1. in a location where it's quiet and free from distractions?
   
2. sized to meet your working needs (i.e., furniture and equipment fit well)
   
3. well ventilated (heating and air conditioning)?
   
4. the best and most comfortable temperature?
   
5. furniture comfortable, ergonomic where appropriate, not worn down and functional?
   
6. accommodate visitors?
   

Evaluating your current workspace and making changes using the six items above (and others) can make  performing your daily tasks much more confortable, functional and enjoyable. In addition, an efficient set-up creates an environment that brings about productivity, and some experts even say that a great workspace helps with a positive self-worth and happiness on the job. 


Excerpted from, "The Start of Something BIG: Your Ultimate Guide to Writing a Dynamic Business Plan."


 

As business owners, we wear many hats.  Especially the entrepreneurs who are, in fact, chief, cook and bottle washer.  So, where should most of our be spent?  For each entrepreneur that answer is different.  Maybe you work "in" your business three days per week and "ON" your business two days per week.  To make the distinction, you must understand what working "IN" versus working "ON"  your business entails.

Working "IN" your business is the hands-on aspect of business which includes, but is not limited to:

1. Creating, developing, designing your product(s) or service(s).
2. Taking and filling orders via phone, email, social media, website, etc.
3. Shipping and delivering products and services.
4. Responding to inquiries via phone, email, social media, and other correspondence.
   
5. Marketing and promoting the business via social media, email marketing, print ads, etc.
6. Social media and website postings of helpful information on related topics.
7. Updating the website.
8. Training and conferring with staff, outside contractors and consultants.
   
9. Upgrading processes and procedures where necessary, including technology.
10. Meeting with customers to ascertain their satisfaction with product(s) and/or services(s).

On the other hand, working "ON" your business is the management of business which takes a less hands-on approach to include, but is not limited to:

1. Revisiting the mission and vision of the company and restructuring where necessary.
2. Managing company finances, and accounting and financial records of the business.
3. Attending business meet-ups, workshops, seminars and other social gatherings.
4. Taking classes on subjects that help improve business acumen.
5. Studying current information on related industry via trade magazines, online information, etc.
6. Participating in trade shows as a vendor or attendee.
7. Spending time with mentors and colleagues discussing issues, concerns or providing support and motivation to one another.
8. Long range planning for growth and/or expansion.
9. Developing or updating your business plan.
10. Most important, taking time off to refuel and replenish, even if no actual work is being done.
    

All 20 of the items above and more are critical to the success of your business.  Depending on the nature of your business, including seasonality of your products or services, you will need to determine when and how much you need to spend on and in your business.  The formula you choose to use is yours to decide and implement.  You may want to start by designating a few days a week for each or maybe a few hours per day.  Either way, try to be consistent.  But understand that changes in your scheduling are inevitable so it's okay to be flexible.


Excerpted from the U3I, "Entrepreneurial Success Certificate Program (ESCP)."

A not-for-profit (or sometimes called a non-profit) is an organization that does not pass its income to its members but instead uses the income to further a goal that benefits the community.  Contrary to popular belief, the not-for-profit can be profitable, and many of them are, but they may not use the profits to benefit private parties.
 
The most common types of not-for-profits are:

• 501(c)3 – corporation or association organized and operated exclusively for religious, charitable, scientific or educational purposes, public safety testing, prevention of cruelty to children and animals, and to foster amateur sports.
  

 

• 501(c)4 – lobbying, social welfare or local association of employees whose earnings are earmarked for charitable, educational or recreational purposes.

 

• 501(c)6 – business leagues, chambers of commerce, and professional football leagues.

 
Some advantages and disadvantages of forming a not-for-profit include:
 
      Advantages

• Exempted from taxes depending on the organization type and the state in which it’s located
• Contributions made by taxpayers are deductible on taxpayer’s income tax return
• Eligible for private and government grants
• Lower costs for postage and electronic and print media advertisements
• Can raise money by issuing tax-exempt bonds

 
Disadvantages

• Limitations on how much control a contributor can have
• Can only perform functions listed in tax laws
• Most are prohibited from contributing to political campaigns
• Financial records are open for public scrutiny

 
To form a not-for-profit corporation, contact the Secretary of State’s office in writing or online to obtain the necessary information.    For more information on the many types of not-for-profit organizations contact the Internal Revenue Service (IRS) online at https://www.irs.gov/Charities-&-Non-Profits.

Excerpted from, "The Start of Something BIG: Your Ultimate Guide to Writing a Dynamic Business Plan."