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What Do Different Industries Spend on Marketing?

Posted by Tim Brown to Accounting, Business Advice, Budgeting, Startup Tips

There’s lots of advice out there about what companies should spend on marketing. Most commentators claim businesses should spend around 6-12% of their revenue on marketing, but it’s important to remember that’s when they’re speaking to a wider audience. If you’re trying to decide how much you should spend to generate revenue for your business, there is a lot more information you should consider.


One of the biggest factors you need to account for when setting your company’s marketing budget is your industry. Take a consumer goods company for instance. In today’s competitive digital landscape, they could spend 12% of their revenue on online advertising alone. That’s going to look much different than a transportation company who is likely to spend much less than 6% because so much of their business depends on existing relationships and campaigns.


So let’s start by taking a look at how much money marketing teams have to play with based on their industry.

What Delaware-Registered Startups Need to Know About Doing Business in California

Posted by Melissa Hollis to Taxes, Business Advice

As of 2016, more than a million U.S. companies have incorporated in Delaware, including many startups and small businesses that hail from California’s Silicon Valley.

 

Why do so many startups incorporate in Delaware?

In a previous article, we discussed how incorporating in Delaware benefits businesses: Essentially, non-resident businesses don’t pay income, property, or sales taxes in Delaware.


However, if you’re planning on doing any business in California, there are still some hoops you need to jump through to avoid fees and penalties.


Here’s what you need to know if your Delaware C Corporation is based in California—aka the biggest state economy in the United States and the eighth biggest economy in the whole world!

Incorporated in Delaware? Here’s How That Impacts Your Business Taxes

Posted by Melissa Hollis to Taxes, Business Advice

Delaware isn’t a state that typically surprises you, but there’s one particular fact about the First State that might:

More businesses are incorporated in Delaware than there are people living there!

It’s not just small businesses either. In fact, over 60% of Fortune 500 companies are incorporated there. This may seem bizarre, but it’s definitely no accident: Delaware has been consciously choosing to be the ideal home for businesses as far back as 1899.

 

Whether your business already a Delaware C Corporation or hasn’t incorporated there yet, this article will explain how this impacts your taxes.

5 Small Business Trends to Work Into Your 2018 Plans

Posted by Meredith Wood to Accounting, Business Advice, Business, Funding, Budgeting, Startup Tips

Small businesses must transform themselves to keep up with ever-changing technologies moving the world forward. It’s vital to their success in a competitive business landscape, and it’s also crucial to the success of the greater economy. According to the Small Business Administration, small businesses accounted for 63% of net new jobs from 1993 to 2013.


With that said, small companies can get a step ahead of the game by budgeting to take advantage of changes in their industries. Here are five small business trends that will make a splash in 2018.

3 Financial Metrics I Use to Run My Marketing Agency

Posted by Chris Hickman to Accounting, Business Advice, Budgeting, Startup Tips

No successful marketer decides to start their own agency because they love accounting. Not even the most passionate digital marketers who love getting deep into the data, like I did when I started Adficient.

5 Inspiring Lessons from Businesses That Started as Pet Projects

Posted by Victoria Greene to Business Advice, Startup Tips

Some entrepreneurs were put on this earth to start, run, and grow businesses. And then there are business owners who started as enthusiasts and turned their real-life passions into their livelihood.


Whether your passions include playing video games, crafting, designing clothes and accessories, or helping your community, that emotional investment can be all you need as a foundation for a lucrative business. If you want to power your business to loftier heights, take note of these seven inspiring business ideas that started off as pet projects.

 

Q&A with Ross Blankenship, Expert VC

Posted by Emily Goetz to Business Advice

On Tuesday, September 5, I had the pleasure of interviewing Ross Blankenship in a Q&A-style webinar to talk about what he looks for in startup investment opportunities. We received a lot of great questions during the event, a few of which we ran out of time to address live. Here are Ross’s responses to those remaining questions:

7 Signs It's Time to Hire Employee #1

Posted by Meredith Wood to Business Advice, Business, Startup Tips

 

They say “the more, the merrier,” and in most cases it is undeniably true. But for a tight-knit team of founders, widening the circle to bring in your first employee is a big—sometimes daunting—milestone. As such, getting the timing right is absolutely vital.


Going from entrepreneurs to employers, your team may be wondering if a new worker will lift your business to new heights or sink your prospects. So, when should you hire employee number one?

What the SBA Needs to Know About Your Personal Finances

Posted by Ian Atkins to Business Advice, Loans

For some, a great idea for a business comes a lot easier than the capital needed to get started. This has led to one of the most important ways the Small Business Administration (SBA) supports business owners. Through their loan guarantee program, the SBA helps ensure entrepreneurs have access to capital regardless of their financial background.

What Your Budget Says About Your Business’s Priorities

Posted by Melissa Hollis to Business Advice, Budgeting, Startup Tips

When it comes to conveying what your company is passionate about, many business owners start by putting pen to paper and writing out their mission statement. Obviously, this is important. As a brand, a mission statement allows you to own your organization’s public-facing story. But aside from what you write about your commitment to your community, there’s another way you can demonstrate what your company stands for and how you plan on changing the world: Your budget.


The way you spend your business’s capital represents not just what your team values, but what you value as a leader. You want to build a budget that paints an accurate picture of how you prioritize each part of your business.

Success starts when you take charge of your finances.

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