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Immigrants: Consider Opening a Business

April 16, 2021 by Paul Edwards Leave a Comment

By Vivek Mukherjee

Immigrants to the United States come with many questions, not least of which is: “How will I earn a living?” While jump-starting a career in a new country can take a lot of extra effort, many immigrants are clearly meeting the challenge, given that they make up a significant percentage of the workforce. In fact, according to recent research, the number of immigrants filling high-skilled jobs is rising.

Immigrants also are well represented in the entrepreneur demographic, so if you are an immigrant arriving here and thinking about a career path, don’t rule out business ownership. Of course, getting a business off the ground while also working to integrate into a new community isn’t easy, but the statistics show that it is eminently possible.

If you’re planning to take the leap into entrepreneurship, we hope the following guidelines can help you start your own business as an immigrant to the United States.

Choose a business that suits your aptitude.

Immigrant-run businesses are exceedingly diverse — restaurants, IT companies, franchises, and construction are just a few of the business ventures that work well for immigrants. Whatever you opt to do, make sure you have the skills for it or the aptitude to train for them easily. Pick a field you will enjoy and one in which you know you have much to offer.

Research available visas and choose the right one.

Not every visa that will allow you to reside and work in the U.S. will also allow you to launch a business, so take your time, do your research, and make sure you are applying for the visa that will give you the freedom you need to pursue your venture. Several visas have been created specifically for immigrants who demonstrate exceptional talent or are highly educated. You may also look into one of the investment visas if you have considerable capital to start your business.

Secure funding.

Even if you are unable to finance a business project, there are many loans and grants that will help you do so. Grants are available from the government on a federal, state, and local level. Some of these grants exist to help businesses enrich the community, while others are created for specific types of businesses or to serve immigrants from particular regions.

Put together a business plan.

A business plan is important if you intend to woo investors or enter collaborations. But it is also useful for you to make sure you have planned for every aspect of your business so you can stay organized and on target. A good business plan, at its most fundamental level, will include an executive summary, a financial overview, and a marketing plan.

Register your business.

Business formation is the process of making your business a legal entity and registering it for tax and other official purposes. Depending on the size and scope of your business, you will want to form it according to one of several structures common in the U.S. economy. Owners of smaller businesses may want to choose a limited liability company format, while those with larger stakes might look into forming a corporation. To register your business, consider using a SAAS formation service so you can make sure you’ve checked all the boxes.

Though starting a business is a lot of work, especially for an immigrant, it is also incredibly rewarding. If you think running your own business is right for you, start planning and attending to all the steps toward entrepreneurship as soon as possible because you have it in you to be a success story.

For more insight into marketing and navigating life as an entrepreneur, be sure to subscribe to Local Marketing Center today.

How to Hire Top-Notch Freelancers for Your Small Business

April 8, 2021 by Paul Edwards Leave a Comment

By Courtney Rosenfeld

When the time comes to hire help for your business, freelancers may be the perfect solution. According to Business Wire, there are over 50 million people in the U.S. who freelance, and other countries are quickly catching up. Tap into this extensive talent pool to find the expertise you need at a price you can afford.

When you’re ready to start looking for quality freelance candidates, consider the following tips and tricks from Local Marketing Center to flesh out the best talent and help your company thrive.

Develop a Solid Communication System

Communication is vital in any team environment. When your team includes people who work remotely, it’s critical to develop a great communication system so that everyone is always on the same page. Miscommunication can cause all kinds of business problems, from missed deadlines to low morale. Avoid these issues by taking advantage of team collaboration apps like Slack and Trello. You can also keep your freelancers in the loop by having call notes transcribed and sent out to everyone on your team.

Know Where to Find Freelancers

There are several ways to find freelancers online, from classified ad sites like Craigslist to freelancer platforms like Upwork. Message people on LinkedIn, create posts on remote job boards, and peruse industry-specific sites. Online job boards help you connect with expert freelancers, whether you’re looking for help in sales, SEO and marketing, web development, or customer service. You can even look for freelancers on social media or ask for recommendations from other business owners in your industry. You don’t have to limit yourself to the U.S. either. There are plenty of freelancers around the world in countries like India, the Philippines or Serbia who can provide the expertise you need.

Make Your Expectations Clear

In your job ad, make your expectations extremely clear. Ensure that your freelancers know exactly what you aim to accomplish with their help. Give potential candidates context by explaining the big picture—not just the specific scope of work and time frame. Also, make sure you detail the skills you’re looking for and how you intend to apply these to your business.

You may also want to let your freelancers know what kind of availability you expect from them. Should they be able to hop on calls at any time? Do you require tight turnarounds, or can they complete work at their leisure? When your applicants know what you expect, they will be better prepared to meet your needs.

Lastly, clearly state how you will pay your freelancers, whether it’s through your payroll system, online payment platforms or remittance services. If you opt to hire foreign workers, you’ll need to have a plan for how to send their payments, which may not work with your payroll setup. For example, if you have a freelancer from the Philippines, using a transfer service can be more affordable and easier than Paypal.

Screen Your Applicants Thoroughly

Screen your initial applicants based on their education, skills, work experience, or portfolio samples. As you go through your candidates, select your top picks and schedule an interview. The interview is important for avoiding incompetent freelancers who sound good on paper.

Ask your candidates tough questions about how they approach deadlines, how they respond to criticism, and what they think quality work looks like. Be sure to also ask about their availability. Many freelancers have more than one client and may not be able to dedicate all of their time to your company. Finally, request a paid test project so you can get a feel for the freelancer’s work quality, communication skills, and ability to meet deadlines.

It may take time to build the perfect team of freelancers for your business. It’s a good idea to start looking for candidates well before you need them to do any work. Be picky and don’t stop searching until you find freelancers with the expertise necessary to help your business prosper.

How Artificial Intelligence Is Shaping the Future

March 27, 2021 by Paul Edwards Leave a Comment

When we talk about artificial intelligence, we usually speak as if it was a futuristic technology or as if it was sci-fi. However, AI has been in our world for quite a while. In fact, the term AI was coined in 1955. John McCarthy was the first one to talk about artificial intelligence. We’ve been dealing with artificial intelligence for a long time; yet, we would have never imagined the impact of AI in incumbent industries.

AI is taking over, and most industries are using this technology for their benefit. Artificial intelligence is the main ingredient of automation. Companies can automate their processes and make them more efficient. Today we’ll explore how artificial intelligence is making a significant impact in most industries.

Digital Marketing

Digital marketing leverages artificial intelligence to automate the customer service system. Instead of spending hours picking up calls and replying to emails, digital marketers can work on something more relevant such as creating strategies. Chatbots reply to users’ queries in a matter of seconds without human intervention. Therefore, users have an immediate response and digital marketers optimize their time.

Financial Industry

AI also disrupts the financial industry. Today, the most accurate form of artificial intelligence in the financial sector is biometric payments. In the past, it was something that we could only dream of, but it is happening today. Biometric payments help the financial industry be safer and simpler.

Therefore, many banking companies are now implementing this trend; from eyeballs recognition to fingertips and even face recognition. Some companies have even used this AI application in their mobile apps. Companies like PayPal or Payoneer use fingertips recognition for mobile payments.

Automobile Industry

The automobile industry is also using AI. Autonomous cars are the future of our roads. These cars are expected to make roads safer and more efficient. Although they’re still in the early stages, experts predict they will be part of our lives very soon. Autonomous cars might also work with IoT along with traffic lights so they can detect any changes in the traffic lights. With the rapid development of autonomous vehicles, the role of human drivers is less relevant every day. Therefore, autonomous vehicles have the power to disrupt the logistics industry, as well.

Education

If you look at today’s education system, you’ll notice that we use technology more than we think. Kids today depend on tablets and computers, and they even get an education through interactive boards. But how do teachers leverage artificial intelligence? Administrative tasks require a lot of time and effort. Therefore by using AI software, they can automate these tasks.

Things like assigning tasks or evaluating exams take a lot of time. By using machine learning-powered programs, teachers can assess and assign tasks more efficiently.

But we can expect more from artificial intelligence and education. In Elon Musk’s city of the future, he believes that studying will be as easy as downloading files to your brain. By that time, artificial superintelligence (when computers are smarter than us) will already be a thing.

Gaming

The gaming industry uses artificial intelligence to create a more personalized experience. AI is used to create adaptive and responsive behaviors in non-player characters (NPCs). This way, players have a more human-like experience.

However, this isn’t the only implementation of AI in the gaming industry. Machine learning is now disrupting the animation industry, and the role of humans animators has been reduced. With machine learning animation software, animators only have to give instructions on how they’d like their characters to look. You may be thinking that these designs are not as realistic as the ones human animators generate, but you’d be wrong.

Conclusion

Artificial intelligence is a powerful tool that helps any industry automate its tasks. Therefore, it is no surprise to see that most companies use it for their benefit. However, it won’t stop there. Due to the rapid growth of artificial intelligence, we can expect to see more advanced tools powered by artificial intelligence.

Commute Time Grows Longer

October 7, 2019 by Paul Edwards Leave a Comment

The Answer for America’s Energy Future

January 4, 2019 by Paul Edwards Leave a Comment

The United States can solve its own energy problem now that the productivity of American farmers and entrepreneurs has been unchained by legalizing the growing of hemp in the United States with the Farm Bill of 2018 for the first time since the 1930’s.

Hemp is essentially a weed but it is an exceptional plant because it is easy to grow in all states. Every part of the plants is usable. It can be grown in poor soil not suitable for growing food. It leaches toxins, like heavy metals, uranium, and arsenic from the soil and metabolizes them, revitalizing spoiled lands, as where coal has been mined and gas extracted. The Midwest has more than 11 million acres of poor land not being used for crops.

Hemp has a short growing season, which means it can be harvested 3 times a year. Or it can be planted after other crops, requiring no fertilizer, herbicides, or pesticides. It can be used as a rotational crop or planted after other plants are harvested. Because of its deep roots and dense leaves, it chokes out weeds.

Because the hemp plant has so little THC, not enough to get anyone high, the commercial growing of hemp should face fewer regulatory problems from the Food & Drug Administration.

The oil pressed from hemp seed can be converted into biodiesel and fermenting the stalks results in either ethanol or methanol or both. Of all the plant sources of energy that have been tried, hemp is superior to alternatives include algae, Carrizo cane, switchgrass, and food plants like corn, soybeans, olives, peanuts, and rapeseed.

Hemp produces nearly four times as much oil per acre as soybeans, which is currently the only crop grown on a large enough scale for biodiesel in the U.S. and ten times more wood pulp than trees per acre. While hemp has been used and can be used for canvas, rope, and clothing, it can also replace some plastics and its seeds, rich in omega-3 fatty acids vitamin E and minerals like potassium, magnesium, calcium, iron, and zinc, can be used as food, its unique properties lend themselves to producing energy.

Farmers need to be made aware of the benefits to them of growing hemp.

A national association, such as the National Hemp Association or Vote Hemp, needs to launch a campaign “Providing America’s Energy Future” to create a favorable climate for farmers to be aware of hemp’s benefit with the assurance they will enjoy long-term markets. The timing is good as the oil and gas industry’s stock prices are down. A recent article is entitled “Bloodbath in Oil & Gas Stocks Could Continue.”

Critical masses of growers can be organized by county, multi-county or state to help them market their hemp, establish standards and provide a knowledge base for obtaining optimum yields.

Hemp can’t be beat as a cash crop. It turns out to be the most cost-efficient and valuable of all the fuel crops we could grow on a scale that will enable America to become energy independent on a sustainable basis.

Do you need a resale license if you sell over the web from your own home?

September 13, 2014 by Paul Edwards 5 Comments

“I want to start a resale business out of my house, do I need a resale license? What is this and where do I get one?” Also what about a federal ID number and a business license?

A resale license or permit, which may have a different name depending on your state, enables you to buy products for resale without paying sales tax on them until you resell them to a purchaser, from whom you collect the tax. You may also have suppliers who will sell to you only if you have a resale number, which indicates to them that you are a legitimate merchant. You can find the name of the tax agency in your state responsible for sales taxes on your state’s web site or from sites like www.govengine.com and http://www.lexisone.com/legalresearch/legalguide/states/states_resources_index.htm. From your state’s tax agency site, you can also get the forms you’ll need for reporting your sales. The states are quite interested in collecting all the taxes they can and have compliance officers.

If your sales are going to be on the web, such as on eBay, you’re obligated to collect and pay tax on sales to buyers from your own state. The Supreme Court reversed the Quill decision with the Wayfair decision that enables states to require collecting sales tax to residents of their states. Usually, states provide a threshold before a small seller is required to collect the tax. You need to check this out for your business.

You only need to get a federal employer ’s tax ID number if you have employees, are a partnership, or are incorporated. You do this with Form SS-4, which you can get at www.irs.gov. It’s one of IRS’s most requested documents and reachable from the home page.

Usually, you get your business license from a county office but check with your state’s agency or office that provides assistance to small businesses. Links to such state agencies and offices can be found at http://www.irs.gov/businesses/small/article/0,,id=99021,00.html.

If you think we can help you, we offer webinars and consulting. mail://paul@elmstreeteconomy

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Adapted from a prior column in BYOB

Take Off the Badge of Exhaustion

August 12, 2014 by Paul Edwards 1 Comment

Everything worth doing takes energy. A passionate desire for a better life can keep our dreams alive, but it won’t keep us alive. We’ve got to do that. But we can’t do much of anything for long if we’re exhausted. To live our dreams we need to be good energy managers. We need to pace ourselves so we have the energy we need to do what needs to be done. Yet, exhaustion seems to be a badge of honor these days.

Author and seminar leader Chellie Campbell does a lot of networking with other professionals and business owners and she’s observed an interesting pattern you also may have noticed. “I went to meetings with colleagues and found that everyone was competing to see who was the most exhausted, overworked and stressed out.” Campbell fell into this routine herself for a while, but quickly realized that the more she talked about how overworked and stressed she was, the more worn out she felt. “What we focus on expands,” she concluded. “If we focus on how tired and exhausted are, we just become all the more tired and exhausted.”

Now when Campbell goes to such meetings and people start trading war stories of how overscheduled and burned out they are she pops in to point out how relaxed and rested she feels. Next thing she knows everyone’s talking about how energized and relaxed they are too.

So, when you hear yourself saying “I’m so tired,” take a moment to think about the things in life that bring you joy and excitement. Unless you’ve really been overdoing, you’ll find a wellspring of energy awaits you and you can tell yourself with confidence “I have plenty of energy.” Should you find you’re so tired that no wellspring awaits, don’t talk about it; take a break and get some sleep, You owe it to yourself … and to your dreams.

Comments and questions on the substance of this blogs are welcome. If you have other questions about this website, please contact me mail://paul@elmstreeteconomy directly for a consulting appointment or book an appointment through Google Helpouts.

If you think we can help you, we offer webinars and consulting.

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Adapted from a prior column in Connection Connection.

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Adapted from a prior column in Connection Connection. http://www.costcoconnection.com/connection/

When Free Means Money

June 5, 2014 by Paul Edwards Leave a Comment

“Free!” is one of the most attention-grabbing words in marketing. For local businesses particularly, there can no more compelling way to get someone to try your product or service than to give them a free sample of what you offer. If they like it, they will want more. Well, that’s the theory. In practice, however, that’s only part of the story. Giving away your business can become a financial trap if you don’t draw the line on just what a “free” ends and service begins.

First, be sure to provide a sample, a taste, not the whole thing. Sometimes a “free consultation,” for example, can slip into becoming the whole meal. A free consultation is an opportunity to discover a client’s needs and talk with them about what you can provide. But if you provide it, you’ll have done them favor, not provided a service.

If you do volunteer to provide your actual work product in order to establish a track record, get a foot in the door, generate testimonials and references or get future referrals, be sure those you are working with know you are offering them a special arrangement. Let them know what your regular fee is and how it is special for you to work with them in this way.

Then mean it. A free sample or a volunteer project is a one-time offer. Folks can’t come back for more. But be sure to let them know how they can get more.

If someone loves your samples at a trade show booth. Ask if they’d like to take some home with them. If you’ve given away a free consultation as a door prize at a networking meeting that goes well, don’t wait for them to call you for appointment. Tell them you’d like to keep working with them and ask if they’d like to make an appointment.

Make it easy to take the step from a sample to the real thing. Have a range of services or products so people can choose the level of investment they feel comfortable with. If a client frowns at signing on for a series of ten sessions or a 10 pound order, have an alternative to suggest right away, “how about we schedule one month and see how it goes?” “… Or, I have a five pound starter pack you might like.”

And, of course, follow up later with those who sampled but weren’t ready yet to buy. If you do it right “free” can mean money or time well spent.

Adapted from a prior column in Connection Connection.

Comments and questions on the substance of this blogs are welcome. If you have other questions about this website, please contact me directly for a consulting appointment or book an appointment through Google Helpouts.

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Is the right to a “jury of one’s peers” still meaningful to most people?

May 16, 2014 by Paul Edwards Leave a Comment

Is the right to a “jury of one’s peers” still meaningful to most people? When citizens cannot afford the cost of a trial or the court cannot find enough people able and willing to serve on a jury, I question whether the right to a jury of one’s peers has lost its significance. A right that is only theoretical becomes empty.

In California, it takes five years for a case to come to trial, assuming the litigants can afford the cost of a trial. If judges are so swamped, they cannot give timely and proper review of matters like restraining orders, we need to reform the administration of justice. A right that is only theoretical becomes empty.

While corporations and people of means can afford to hire private judges, the rest of the population is effectively denied justice. France and Italy have professional jurors, who take the place of judges.

What I am suggesting retains the advocacy system and our judges. The professional jurors would take the role that juries have traditionally played. I believe a minimum number – perhaps five or seven – to assure a diversity of opinion. It’s also conceivable that litigants might choose between a jury of professional jurors or a citizen panel. What’s clear is our justice system needs reform.

Comments on the substance of the blogs are welcome. If you have other questions, please contact me directly. Paul offers consulting through Google Helpouts and as a SBDC consultant.

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If justice delayed is justice denied – what can we do about it?

May 12, 2014 by Paul Edwards Leave a Comment

The headline yesterday in the Los Angeles Times was “Cutbacks in California court system produce long lines, short tempers. The statement that “justice delayed is justice denied” has its origin that traces back to Biblical times. Martin Luther King, Jr., stated it “justice too long delayed is justice denied.” This applies both to civil and criminal law.

Many people have been sharing their frustration with Sarah recently about not being able to get legal matters through the court system. For example, if a person is being harassed by a stalker or an ex-spouse tries, we expect them to get a restraining order. According to the law of California, restraininig orders must be ruled on within 24 hours. But in too many cases, they are not because the judge hasn’t seen the order.

What are people going to do when they’re unable to get timely responses to even simple but pressing issues like retraining orders, legal separations or custody resolutions? If people become too desperate, might they protect themselves by hurting or even killing the stalker. For working poor and middle class people the legal system is not working. They face demoralizing and sometimes scary long waits and delays for resolution of legal matters.

What I have in mind is a new profession of professional jurors or adjudicators. What gave me the idea for this at the time of the runaway verdict when O.J. Simpson was acquitted of murdering his wife. I envision a program for training such experts in legal process and impaneling them as small juries. I trust the cumbersome and costly process of impaneling juries will be simplified, but the main benefit would be the availability of justice rendered at much faster pace . Governor Brown has been quoted as saying courts need to reinvented or restructured. If can have justice and save money in the process , concepts like this need to be tested in one or more places. If we are to have a civil society, we need to restructure our processes.