e-Council Inc.'s Business Articles:

What Are the 7 Secrets to Ensuring Business Success?

In today’s volatile and ever-changing business world, successful companies need to ensure that all of their bases are covered if they expect to survive.  Essentially speaking, if your Company follows each of these 7 Secrets, it will likely survive and even thrive. 

Offer a Unique Product or Service that “sets your Business apart” (ideally one that can be DUPLICATED/REPLICATED);

Form the appropriate Business Entity (Corporation/LLC/etc.), choosing the best State in which to set up your Business Entity;

Develop a Business Plan utilizing the services of qualified Professionals that know your Industry and understand the funding process;

Assemble a Committed & Experienced Team of Professionals, both at the Management level and the Employee level.  Loyalty is critical at both levels at all times;

Foster Strategic Partnerships with complementary Businesses and build upon these critical relationships at every possible opportunity;

Ensure that you have covered your legal & compliance bases, addressed all potential insurance, tax, and related issues;

Establish clear, tangible, written goals.  Preferably, this will be done by way of a professional Business Plan created with the professional team at e-Council Inc.

Each of these 7 Secrets will help to pave the way to your Company’s ultimate success, while assisting you in navigating the challenging waters of today’s economy.  The professional team of consultants at e-Council Inc. is available to help you to address each of these 7 secrets.  We look forward to hearing from you!

 “Cherish your visions and your dreams as they are the children of your soul, the blueprints of your ultimate achievements.”

         -   Napoleon Hill American author on  personal success

Why a Not-for-Profit May Be the Right Answer

Few small business owners (SBO’s) are cognizant of the multitude of opportunities available through the non-profit sector.  Instead, SBO’s struggle through the maze of traditional capital options, without realizing that other means to secure financial resources may well be available to them.

For example, increasing volumes of grant monies have been created under the Obama administration.  These grant monies are offered at NO COST to eligible recipients, and, best of all, THERE IS NO REQUIREMENT TO PAY THE MONIES BACK!!!  However, in order to qualify for the bulk of this grant money, the most common pre-condition is that your company must be a non-profit organization, either with 501(c)(3) status, or in the process of securing this IRS “charitable entity” designation. 

Owning and operating a non-profit/charitable organization (NFP) does NOT mean that SBO’s and/or their Businesses will NOT earn money – this is a FALLACY that needs to be eradicated.  The key difference between FOR-PROFIT and NOT-FOR-PROFIT/CHARITABLE entities is that the owners of a for-profit entity can receive distributions of the profits in their hands, whereas NFP owners are required to re-invest any profits back into the NFP organization.  However, NFP owners are permitted to draw salaries, provided that such salaries are scaled reasonably in consideration of the services performed, and are not simply a “mask” to cover up the reality that they are indeed putting a share of the profits in their own pockets.

Disclaimer: The information provided in or through this site is virtual business consulting advice and is not legal advice, and it should not be relied upon as such. eCouncil Inc.com, Inc. is not a law firm nor a provider of legal services, and the services provided by eCouncil Inc.com Inc. are not and should not be considered to be a substitute for an attorney or law firm. eCouncil Inc.com Inc. is not permitted to offer or provide legal advice, but instead can provide virtual business consulting services which may included oversight of legal- and/or compliance-related matters at the specific direction and discretion of each client, provided that such services are not tantamount to the provision of legal advice or counsel. Neither eCouncil Inc.com Inc. nor its principals are licensed to practice law in FL.

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