Is my employee the problem?
By: Bayou Trésors Staff
Each time a leader brings someone new on board to join their startup, it's an investment. Time, money, and energy are poured into the undertaking. Typically, it's a sound investment because the right person for the job was hired and the company benefits from their expertise!
That said, there are times when new hires seem to come with more problems than solutions. What can be done in such cases?
It's natural to hesitate at the thought of backtracking on an investment, especially when it involves firing someone. Along those lines, it's good to pause and consider why a new hire may be coming across as problematic.
Could the employee be experiencing a personal problem, such as a health crisis, that's contributing to their unusual behavior? Or are financial problems turning their life upside down? Taking the employee aside to find out if they're alright may be beneficial.
But if that chat leads to nowhere and the problematic behavior continues, the new hire may not be the right fit for the job, and it would likely be best in everyone's interest if they moved on. In cases like these, the four red flags below are indicators to look out for.
That said, there are times when new hires seem to come with more problems than solutions. What can be done in such cases?
It's natural to hesitate at the thought of backtracking on an investment, especially when it involves firing someone. Along those lines, it's good to pause and consider why a new hire may be coming across as problematic.
Could the employee be experiencing a personal problem, such as a health crisis, that's contributing to their unusual behavior? Or are financial problems turning their life upside down? Taking the employee aside to find out if they're alright may be beneficial.
But if that chat leads to nowhere and the problematic behavior continues, the new hire may not be the right fit for the job, and it would likely be best in everyone's interest if they moved on. In cases like these, the four red flags below are indicators to look out for.
How to score extra cash with side hustles
|
By: Bayou Trésors Staff
During the hot summer days, there’s almost nothing better than lounging on a sandy beach with a cool drink. But there’s work to be done and bills to be paid. Not to mention that if you want to take a beachside vacation, you may need a little extra cash for the journey. So, how can you get your hands a few extra Benjamins? The ideas below may add a few extra bumps to your bank account!
1/ Become a remote personal assistant Pick up a part-time gig as a remote personal assistant to owners of start-ups or busy community figures who need someone to help them manage their schedules. You can find this wort of work through online platforms like Upwork and Indeed. 2/ Start a blog or website and monetize it Create a blog or website for a targeted audience and then sell ad space on it. For example, you could start a fashion blog and then automate ads on your site with a company like Google AdSense. |
3/ Write a book
Are you knowledgeable in a certain field or hobby? Write a short book on the topic. Work with a writing coach to get it published with as little overhead as possible and then sell it through all major book distributors such as Amazon and Barnes and Noble.
4/ Become a private consultant
Once again, are you knowledgeable about a particular field of study or area of interest? If so, find the people who’ve made a career of it and offer your services as a part-time consultant. For example, if you have an interest in golf, reach out to exclusive venues with golf courses and offer your services as a personal consultant who can help anyone improve their game.
5/ Become a tutor
Summer vacation isn’t vacation for everyone. Some students use the summer months to study hard and prepare for the next semester. Those students need a tutor. Reach out to local universities and even K-12 schools to find out how you can partner with them to advertise your services as a tutor in an area of study that you excel in.
6/ Clean offices at night
Nighttime janitors can rack up some pretty serious extra cash. The work is hard, but it comes with a good bit of cash if you opt on working through your own business instead of through a cleaning company that finds work for you. This means you’ll have to advertise for yourself. But it’s not too difficult to find accounts. Find a local strip mall full of businesses and get to work, calling and going in person to let them know about your services. It’s likely that you’ll find work soon.
7/ Work as a background actor
If you’re based in a state like Louisiana, Georgia, Texas, California, or New York, it shouldn’t be too difficult to find a casting company that hires background actors. Movies backed by big-name producers can often be found in those states, and their films need actors. The background roles don’t typically pay much, maybe $12-$15/hour and the work is often 10-12 hour-long days. That said, it’s extra cash and you typically get to be onset with famous actors and directors. So, if you have the time to do this and you love movies, it’s worth it to give this a shot at least once in your life. You might even see yourself on the big screen!
8/ Sell your clothes
If you have nice gently used clothing, you can make some extra cash by either selling it online to a gently used company like thredUP or at a local thrift store.
9/ Housesit
Sell yourself as a professional house sitter. You might begin by house sitting for friends with nice homes. Go the extra mile in taking care of their home while they’re out of town. Once they return and find themselves impressed with your services, have them spread the word on social media about your business. Do this several times, until you have enough quotes and even video testimonials to create a website about your services. Then, start an official side businesses as a house sitter.
10/ Deliver food
You can grab a part-time gig as a food delivery driver for companies like Grubhub or Uber Eats.
Clearly, there are more than a few ways to rack up some extra cash this summer! Do you have anymore ideas on how to make money this summer? Leave your comments in the comments section on the video below!
Are you knowledgeable in a certain field or hobby? Write a short book on the topic. Work with a writing coach to get it published with as little overhead as possible and then sell it through all major book distributors such as Amazon and Barnes and Noble.
4/ Become a private consultant
Once again, are you knowledgeable about a particular field of study or area of interest? If so, find the people who’ve made a career of it and offer your services as a part-time consultant. For example, if you have an interest in golf, reach out to exclusive venues with golf courses and offer your services as a personal consultant who can help anyone improve their game.
5/ Become a tutor
Summer vacation isn’t vacation for everyone. Some students use the summer months to study hard and prepare for the next semester. Those students need a tutor. Reach out to local universities and even K-12 schools to find out how you can partner with them to advertise your services as a tutor in an area of study that you excel in.
6/ Clean offices at night
Nighttime janitors can rack up some pretty serious extra cash. The work is hard, but it comes with a good bit of cash if you opt on working through your own business instead of through a cleaning company that finds work for you. This means you’ll have to advertise for yourself. But it’s not too difficult to find accounts. Find a local strip mall full of businesses and get to work, calling and going in person to let them know about your services. It’s likely that you’ll find work soon.
7/ Work as a background actor
If you’re based in a state like Louisiana, Georgia, Texas, California, or New York, it shouldn’t be too difficult to find a casting company that hires background actors. Movies backed by big-name producers can often be found in those states, and their films need actors. The background roles don’t typically pay much, maybe $12-$15/hour and the work is often 10-12 hour-long days. That said, it’s extra cash and you typically get to be onset with famous actors and directors. So, if you have the time to do this and you love movies, it’s worth it to give this a shot at least once in your life. You might even see yourself on the big screen!
8/ Sell your clothes
If you have nice gently used clothing, you can make some extra cash by either selling it online to a gently used company like thredUP or at a local thrift store.
9/ Housesit
Sell yourself as a professional house sitter. You might begin by house sitting for friends with nice homes. Go the extra mile in taking care of their home while they’re out of town. Once they return and find themselves impressed with your services, have them spread the word on social media about your business. Do this several times, until you have enough quotes and even video testimonials to create a website about your services. Then, start an official side businesses as a house sitter.
10/ Deliver food
You can grab a part-time gig as a food delivery driver for companies like Grubhub or Uber Eats.
Clearly, there are more than a few ways to rack up some extra cash this summer! Do you have anymore ideas on how to make money this summer? Leave your comments in the comments section on the video below!
Six signs that you need a vacation
By: Bayou Trésors Staff
Our business ventures are more likely to succeed when we take them on with a clear head and the necessary energy to see our goals through. This means it's essential for every member of a startup's team, including the leader, to take time off as needed.
But if you've gotten into a habit of just going, going, going without stopping to assess your needs, you may have forgotten how to assess your need for rest.
So, Bayou Trésors is going to help you out a bit!
Listed below are six indicators that it's likely time for you to get out of the office and find a beach for relaxing.
But if you've gotten into a habit of just going, going, going without stopping to assess your needs, you may have forgotten how to assess your need for rest.
So, Bayou Trésors is going to help you out a bit!
Listed below are six indicators that it's likely time for you to get out of the office and find a beach for relaxing.
When to hire a
Personal Assistant
By: Bayou Trésors Staff
You have a business that is small but slowly expanding. You also have a full-time job that helps to pay the bills. On top of this are family responsibilities.
Life is a lot, and you’re tired.
Quite frequently, friends approach you with wide eyes and say, “I don’t know how you do it all!”
You smile and change the subject. But their comments linger. And they make you think to yourself, “I have no personal time and I’m ignoring the fact that I’m burned out. That’s how I do it.”
Quitting your job would mean losing the ability to pay your rent, mortgage, and other monthly bills. Giving up your business would mean giving up the plan you’ve built to help you escape from the full-time job that doesn’t bring you joy or pay enough to truly support your long-term goals.
So, it seems you have only one option. You’ve got to keep pushing through the burnout.
But is this your only option?
Many experts say it isn’t.
“Ten years ago, a mentor told me to hire a personal assistant. I was dubious. Today, I can't imagine myself getting the job done without one,” Lou Carlozo said in Money Under 30.
A personal assistant may be the answer to your problems.
But how do you know for sure?
Listed below are four signs that it may be time to hire a personal assistant.
1/Routine Tasks Have Become Time Vacuums
You’re spending hours knocking out routine tasks instead of big-picture activities that will boost your company’s long-term goals. Routine tasks can include but are not limited to: managing your daily calendar, screening and answering phone calls and emails, attending meetings of minimal importance, meeting with other colleagues or clients to discuss minor concerns, grocery shopping, picking up the dry cleaning, cooking for the family, and running other errands.
2/Key Duties Go Undone
You notice that by the end of your 16-hour day, the major items on your daily checklist have not been completed. Essentially, the most important tasks are falling through the cracks because you’re too busy focusing on minor tasks. You simply can’t keep up with everything.
3/You Spend All Day Working
Sometimes we take on the mindset of a martyr and feel proud as we say, “I spent 16 hours working today. Wow!” That, my friend, is unhealthy. It’s a sure ticket to poor mental and physical health. Everyone needs “me-time.” So, if you don’t have any time to enjoy a relaxing activity or fun with family and friends during your week, this is a major problem.
4/You Can Hire One Employee
If your company is bringing in enough to allow you to hire one person, it might be time to explore that option.
*****
If the four signs above apply to your situation, there’s another step you can take to see what sort of assignments you might give a personal assistant.
Write a list of every task you carry out on a daily basis. This includes things like gassing up the car, cleaning the pool, cooking dinner, and answering the seventeen text messages that your neediest client sends you every day.
Now, once you’ve examined that list, grab a highlighter, and mark the tasks that only YOU can accomplish.
For example, only you can knock out the one-hour weekly coaching session that each of your clients have been promised. So, that task would be highlighted.
Once you’ve marked all of the things to be done that require your personal touch, look at the duties that are left over. Imagine if you didn’t have to do any of them because you delegated them to a personal assistant.
A trusted personal assistant can free up your time, so that you’re working a 10-hour day instead of 16. You’ll be free to focus on major tasks that will grow your business, while they knock out daily duties.
As your business grows and brings in more money, you’ll be able to hire more key employees, and eventually you’ll no longer need your full-time job.
This may whittle your workday down to seven or eight hours, instead of ten. Who knows? Maybe even less.
So, think about your situation and ask yourself if hiring an assistant will help your business to grow and allow you to improve your well-being.
Life is a lot, and you’re tired.
Quite frequently, friends approach you with wide eyes and say, “I don’t know how you do it all!”
You smile and change the subject. But their comments linger. And they make you think to yourself, “I have no personal time and I’m ignoring the fact that I’m burned out. That’s how I do it.”
Quitting your job would mean losing the ability to pay your rent, mortgage, and other monthly bills. Giving up your business would mean giving up the plan you’ve built to help you escape from the full-time job that doesn’t bring you joy or pay enough to truly support your long-term goals.
So, it seems you have only one option. You’ve got to keep pushing through the burnout.
But is this your only option?
Many experts say it isn’t.
“Ten years ago, a mentor told me to hire a personal assistant. I was dubious. Today, I can't imagine myself getting the job done without one,” Lou Carlozo said in Money Under 30.
A personal assistant may be the answer to your problems.
But how do you know for sure?
Listed below are four signs that it may be time to hire a personal assistant.
1/Routine Tasks Have Become Time Vacuums
You’re spending hours knocking out routine tasks instead of big-picture activities that will boost your company’s long-term goals. Routine tasks can include but are not limited to: managing your daily calendar, screening and answering phone calls and emails, attending meetings of minimal importance, meeting with other colleagues or clients to discuss minor concerns, grocery shopping, picking up the dry cleaning, cooking for the family, and running other errands.
2/Key Duties Go Undone
You notice that by the end of your 16-hour day, the major items on your daily checklist have not been completed. Essentially, the most important tasks are falling through the cracks because you’re too busy focusing on minor tasks. You simply can’t keep up with everything.
3/You Spend All Day Working
Sometimes we take on the mindset of a martyr and feel proud as we say, “I spent 16 hours working today. Wow!” That, my friend, is unhealthy. It’s a sure ticket to poor mental and physical health. Everyone needs “me-time.” So, if you don’t have any time to enjoy a relaxing activity or fun with family and friends during your week, this is a major problem.
4/You Can Hire One Employee
If your company is bringing in enough to allow you to hire one person, it might be time to explore that option.
*****
If the four signs above apply to your situation, there’s another step you can take to see what sort of assignments you might give a personal assistant.
Write a list of every task you carry out on a daily basis. This includes things like gassing up the car, cleaning the pool, cooking dinner, and answering the seventeen text messages that your neediest client sends you every day.
Now, once you’ve examined that list, grab a highlighter, and mark the tasks that only YOU can accomplish.
For example, only you can knock out the one-hour weekly coaching session that each of your clients have been promised. So, that task would be highlighted.
Once you’ve marked all of the things to be done that require your personal touch, look at the duties that are left over. Imagine if you didn’t have to do any of them because you delegated them to a personal assistant.
A trusted personal assistant can free up your time, so that you’re working a 10-hour day instead of 16. You’ll be free to focus on major tasks that will grow your business, while they knock out daily duties.
As your business grows and brings in more money, you’ll be able to hire more key employees, and eventually you’ll no longer need your full-time job.
This may whittle your workday down to seven or eight hours, instead of ten. Who knows? Maybe even less.
So, think about your situation and ask yourself if hiring an assistant will help your business to grow and allow you to improve your well-being.
How to deal with racism on the day job
By: Bayou Trésors Staff
You mildly voice a concern at work to your supervisor who responds by writing you up for being “aggressive” and demanding that a third party be present during any future encounters between the two of you.
You notice that coworkers of a certain ethnic identity or gender are paid less than others and often verbally abused by your supervisor.
Sadly, these situations are not uncommon.
The Harvard Business Review conducted a study that aimed to test the popularity of the “angry Black woman” stereotype. Out of the 300 subjects who were tested, the study found that “participants were more likely to attribute the anger of Black female employees to internal characteristics, or her personality. This had negative consequences because internal attributions translated into lower performance ratings and leadership evaluations.”
According to American Progress, “Black workers, for example, typically get paid a great deal less than white workers. The typical median weekly earnings for Black full-time employees was $727 from July 2019 to September 2019, compared with $943 for whites.”
So, racism and prejudice are frequent occurrences in many workplaces. But a number of survivors choose to keep their heads down and ignore it as best they can.
Suppose you don’t want to ignore it? Then, what do you do?
One option is to report the behavior to Human Resources.
If you do, it’s important that you have proof of their inappropriate conduct. So, if comments have been made via email or in other documents, save those emails or documents and bring them to HR. One thing to remember is to avoid recording conversations without the other person’s consent. This might not be usable as evidence or proof as it may be a violation of privacy.
Experts also recommend documenting each incident of racism, including the date, time, and location of each situation.
All of the evidence you’re able to compile can be helpful in backing up a complaint that you bring to HR. A solid body of proof may motivate them to take action and solve the problem.
Rebecca Stevens has encountered racism at work on multiple occasions. She wrote an article for Medium on the subject and offered alternative suggestions on how to manage a racist supervisor.
Stevens’ five tips are below.
In any case, being treated unfairly at work is disheartening. It may be helpful to speak with a counselor or even a career coach who has tips on how to improve your self-esteem and embrace your sense of identity as you heal.
You notice that coworkers of a certain ethnic identity or gender are paid less than others and often verbally abused by your supervisor.
Sadly, these situations are not uncommon.
The Harvard Business Review conducted a study that aimed to test the popularity of the “angry Black woman” stereotype. Out of the 300 subjects who were tested, the study found that “participants were more likely to attribute the anger of Black female employees to internal characteristics, or her personality. This had negative consequences because internal attributions translated into lower performance ratings and leadership evaluations.”
According to American Progress, “Black workers, for example, typically get paid a great deal less than white workers. The typical median weekly earnings for Black full-time employees was $727 from July 2019 to September 2019, compared with $943 for whites.”
So, racism and prejudice are frequent occurrences in many workplaces. But a number of survivors choose to keep their heads down and ignore it as best they can.
Suppose you don’t want to ignore it? Then, what do you do?
One option is to report the behavior to Human Resources.
If you do, it’s important that you have proof of their inappropriate conduct. So, if comments have been made via email or in other documents, save those emails or documents and bring them to HR. One thing to remember is to avoid recording conversations without the other person’s consent. This might not be usable as evidence or proof as it may be a violation of privacy.
Experts also recommend documenting each incident of racism, including the date, time, and location of each situation.
All of the evidence you’re able to compile can be helpful in backing up a complaint that you bring to HR. A solid body of proof may motivate them to take action and solve the problem.
Rebecca Stevens has encountered racism at work on multiple occasions. She wrote an article for Medium on the subject and offered alternative suggestions on how to manage a racist supervisor.
Stevens’ five tips are below.
- Make sure that your tasks and objectives are crystal clear. There is nothing that a racist boss likes more than to accuse you of poor performance. Be sure to deliver on your projects and ensure you have a list of allies within the team that can speak to your achievements. Most corporate performance management platforms contain a multi-rater option which allows you to get reviews from fellow colleagues regarding your work. Use this to get as much positive feedback as possible about your performance.
- If your boss makes racist comments or inappropriate jokes, be sure to call them out on it. If there are witnesses, make sure you tell them how uncomfortable these comments and jokes make you feel. Make sure you send a written message to your boss explaining that the inappropriate comment or joke made you feel uncomfortable. You can even report the comment or joke to your HR department so that there is a record of the behavior there.
- As soon as you realize that your boss is a racist, start looking for new opportunities elsewhere because no matter what you do, they will not champion you. You will always be fighting a losing battle with a racist boss, so the quicker you move away from them, the better. Try not to get into conflict with them because they will put all their energy into ruining your reputation and if they are white in a white-dominated environment, and you are black, chances are, people will believe them over you.
- It is important to always try and control the narrative about you when you work for a racist boss. This isn’t always easy. Make sure you get several nonracist or antiracist mentors to provide feedback and guidance to you as you build your career. Identify a good mentor or mentor and stick with them, build a mutually beneficial relationship with them. Get to the point where your mentor can become your ally and can stand up for you or correct a wrong narrative about you. An ally mentor can protect you from a racist boss.
- You might have landed up with a racist boss, but you need to protect other black and brown people from ending up in a similar situation. If another black or brown person asks you about how it is to work with your boss, be truthful about the experience. Provide fact-based reasons as to why you would not recommend that person come work for your boss regardless of how good the opportunity might seem like on the outside.
In any case, being treated unfairly at work is disheartening. It may be helpful to speak with a counselor or even a career coach who has tips on how to improve your self-esteem and embrace your sense of identity as you heal.
How to set up an LLC in Louisiana
By: Paula L. Jones
You have a great idea for a business, you’re an excellent leader, and you’ve created a business plan.
So, what do you do next?
You may want to set up shop as a Limited liability company or LLC.
The Internal Revenue Service (IRS) defines an LLC as, “a business structure allowed by state statute.”
Other business structures include sole proprietorships, partnerships, corporations, and S corporations.
When it comes to LLCs, every state has its own rules related to their oversight and functioning.
The owners of LLCs are called “members” and these owners or members don’t typically need to be one specific person. The IRS says, “members may include individuals, corporations, other LLCs and foreign entities. There is no maximum number of members. Most states also permit “single-member” LLCs, those having only one owner.”
It adds that, “A few types of businesses generally cannot be LLCs, such as banks and insurance companies.”
One of the major advantages of choosing an LLC structure for your business is that because it’s a separate entity, the owners of the company have limited liability. This means their personal assets of are generally safe from any lawsuits or debts made against the LLC. Essentially, the member’s risk of financial loss is limited to the amount of funds the member actually invests in the business.
So, if you’re in Louisiana and you’re not interested in opening a bank or insurance company, you might want to check out this overview detailing how an LLC is established:
Step One
Choose a unique name for your company.
As you select a name, keep these requirements in mind:
Step Two
Appoint a registered agent for your LLC.
The registered agent can be you, an employee, or a person/entity that offers a registered agent service and is authorized to receive service of process and other official legal documents and notices on behalf of your LLC.
They must:
Step Three
Get a nine-digit Employer Identification Number (EIN) from the IRS.
An EIN is necessary because it’s what the U.S. government uses to identify a business entity.
You can click here to apply for an EIN on the IRS’s website.
Step Four
File the Louisiana LLC Articles of Organization with the Secretary of State.
The Articles of Organization clarifies basic information about your LLC and officially establishes it as an entity.
Prepare the Articles of Organization by clicking here and then filing them with the Secretary of the State online or by mail.
Step Five
(optional) Create a Louisiana LLC Operating Agreement.
An official operating agreement’s purpose is to outline the company’s ownership and operating procedures to ensure that all business owners are on the same page. It’s not required in Louisiana but it may be a good idea to have. Without an operating agreement, should a dispute arise that needs to be settled in court, a judge will base their rulings on state law, instead of on what’s best interest for the LLC and its members.
Step Six
Keep your certificate from the state in a safe place.
The state will send you a certificate confirming the LLC’s existence and validity. It can help you in obtaining business licenses, and business bank account, so keep it in a safe place.
Step Seven
Register with the Louisiana Department of Revenue.
Register with the Louisiana Department of Revenue (LDR) to collect sales tax and if your company will have employees, you’ll also register with the LDR for employer withholding taxes. You can do both online via the Business Registration page of the LDR website.
Step Eight
Register with geauxBIZ and create a business license checklist.
Register with the Secretary of State’s geauxBIZ website and create a business license checklist. This will provide you with information about local licenses and permits you may need for your city and parish.
Step Nine
Register your business with your parish, pay for an occupational license, and begin paying sales taxes.
Visit Parish E-File to register your business online with your city/Parish and get set up to pay for an occupational license and to begin paying sales taxes. You can choose to pay sales taxes on a monthly basis.
Hopefully, the steps above will come in handy as you set up your new company.
So, what do you do next?
You may want to set up shop as a Limited liability company or LLC.
The Internal Revenue Service (IRS) defines an LLC as, “a business structure allowed by state statute.”
Other business structures include sole proprietorships, partnerships, corporations, and S corporations.
When it comes to LLCs, every state has its own rules related to their oversight and functioning.
The owners of LLCs are called “members” and these owners or members don’t typically need to be one specific person. The IRS says, “members may include individuals, corporations, other LLCs and foreign entities. There is no maximum number of members. Most states also permit “single-member” LLCs, those having only one owner.”
It adds that, “A few types of businesses generally cannot be LLCs, such as banks and insurance companies.”
One of the major advantages of choosing an LLC structure for your business is that because it’s a separate entity, the owners of the company have limited liability. This means their personal assets of are generally safe from any lawsuits or debts made against the LLC. Essentially, the member’s risk of financial loss is limited to the amount of funds the member actually invests in the business.
So, if you’re in Louisiana and you’re not interested in opening a bank or insurance company, you might want to check out this overview detailing how an LLC is established:
Step One
Choose a unique name for your company.
As you select a name, keep these requirements in mind:
- The name you select must be unique, meaning no other business in the state can have it. To ensure that the name is not a duplicate, click here and perform a search via the Secretary of State’s website.
- Your business name must include the words Limited Liability Company, LLC, or L.L.C.
- The name you select cannot contain words used to name a government agency (i.e., State Department, CIA, FBI, Treasury, etc.)
- Certain restricted words (bank, lawyer, attorney, credit union, etc.) may require additional documentation and licensure paperwork.
Step Two
Appoint a registered agent for your LLC.
The registered agent can be you, an employee, or a person/entity that offers a registered agent service and is authorized to receive service of process and other official legal documents and notices on behalf of your LLC.
They must:
- Entities (or companies) must provide registered agent services.
- The agent must have an address in Louisiana.
- The agent must be on-site and available to accept documents during regular business hours.
Step Three
Get a nine-digit Employer Identification Number (EIN) from the IRS.
An EIN is necessary because it’s what the U.S. government uses to identify a business entity.
You can click here to apply for an EIN on the IRS’s website.
Step Four
File the Louisiana LLC Articles of Organization with the Secretary of State.
The Articles of Organization clarifies basic information about your LLC and officially establishes it as an entity.
Prepare the Articles of Organization by clicking here and then filing them with the Secretary of the State online or by mail.
Step Five
(optional) Create a Louisiana LLC Operating Agreement.
An official operating agreement’s purpose is to outline the company’s ownership and operating procedures to ensure that all business owners are on the same page. It’s not required in Louisiana but it may be a good idea to have. Without an operating agreement, should a dispute arise that needs to be settled in court, a judge will base their rulings on state law, instead of on what’s best interest for the LLC and its members.
Step Six
Keep your certificate from the state in a safe place.
The state will send you a certificate confirming the LLC’s existence and validity. It can help you in obtaining business licenses, and business bank account, so keep it in a safe place.
Step Seven
Register with the Louisiana Department of Revenue.
Register with the Louisiana Department of Revenue (LDR) to collect sales tax and if your company will have employees, you’ll also register with the LDR for employer withholding taxes. You can do both online via the Business Registration page of the LDR website.
Step Eight
Register with geauxBIZ and create a business license checklist.
Register with the Secretary of State’s geauxBIZ website and create a business license checklist. This will provide you with information about local licenses and permits you may need for your city and parish.
Step Nine
Register your business with your parish, pay for an occupational license, and begin paying sales taxes.
Visit Parish E-File to register your business online with your city/Parish and get set up to pay for an occupational license and to begin paying sales taxes. You can choose to pay sales taxes on a monthly basis.
Hopefully, the steps above will come in handy as you set up your new company.
Taking Baby Steps to Reach Your Goals
By: Jada Bishop
February 2023
February 2023
Just the phrase alone, “setting goals” can be intimidating. Sometimes the things that we want can seem impossible when we focus on our current circumstances. When we look only at the ultimate end that we want to achieve, our dreams can seem unattainable. When setting goals, it’s helpful to relate progress to a baby’s journey from crawling to walking. A baby doesn’t just go from sitting day after day to walking at top speed. No, there are stages. First they will crawl, then pull up on a sturdy object to stand, and then they may take a step or two. Even when a baby falls down, they never give up until they’re walking steadily with a proud smile.
For instance, a person that goes from being relatively sedentary to desiring to walk a mile, may end up feeling discouraged if they automatically try to do so and fail. However, it would be wiser if they start with little goals, like starting with one lap, and gradually increasing distance over time. Likewise, an adult that wants to return to college may fair better by taking one or two classes to start with, and then they can gradually increase their workload over time.
When setting goals, it’s also wise to prepare both circumstantially and emotionally for unexpected hinderances or setbacks. There may be physical, economic, or other unexpected challenges to completing these stepping stones to our ultimate goal. When these interruptions occur, it’s best to take a moment to feel the disappointment, but not to wallow it. Making time to reset and adjust our plans can help us stay focused on the big picture of the main goal that we’ve strived to reach.
Yes, when we break our long-term goals into smaller goals, like a child, our self-confidence will grow with every step that we take, and reaching our goals will seem more possible. By following this process, we may even find ourselves enjoying the journey to our goals more along the way.
For instance, a person that goes from being relatively sedentary to desiring to walk a mile, may end up feeling discouraged if they automatically try to do so and fail. However, it would be wiser if they start with little goals, like starting with one lap, and gradually increasing distance over time. Likewise, an adult that wants to return to college may fair better by taking one or two classes to start with, and then they can gradually increase their workload over time.
When setting goals, it’s also wise to prepare both circumstantially and emotionally for unexpected hinderances or setbacks. There may be physical, economic, or other unexpected challenges to completing these stepping stones to our ultimate goal. When these interruptions occur, it’s best to take a moment to feel the disappointment, but not to wallow it. Making time to reset and adjust our plans can help us stay focused on the big picture of the main goal that we’ve strived to reach.
Yes, when we break our long-term goals into smaller goals, like a child, our self-confidence will grow with every step that we take, and reaching our goals will seem more possible. By following this process, we may even find ourselves enjoying the journey to our goals more along the way.
Does your commercial need a voice actor?
Visit aljonesvoiceactor.weebly.com for more.
The Most Common Mistakes Made When Starting a Business
By: Bayou Trésors Staff
January 2023
January 2023
Meet Sara!
|
Two days ago, Sara thought of a great idea for a business.
She shared the idea with her best friend, and they discussed how amazing it would be. Now, Sara can already imagine her picture on the cover of Bayou Trésors Magazine beside the words “Louisiana’s Most Successful Entrepreneur.” She just knows that everything she’s ever wanted will come her way, thanks to this idea! |
Eager to get started, Sara rushes to complete the Parish, State, and Federal paperwork necessary to begin doing business, and she opens the new company with haste.
Her best friend is her first customer… and her last.
Months later, Sara is $15,000 in debt and realizing that she needs to close her business.
What went wrong?
Well, there are several common mistakes new business owners make and perhaps Sara made a few of these.
Let’s consider what traps Sara may have walked into.
Her best friend is her first customer… and her last.
Months later, Sara is $15,000 in debt and realizing that she needs to close her business.
What went wrong?
Well, there are several common mistakes new business owners make and perhaps Sara made a few of these.
Let’s consider what traps Sara may have walked into.
Did Sara remember to create a business plan?
A business plan is like a roadmap that lays out the company’s route to success. It defines the company’s purpose, goals, the plan to achieve those goals, and strategies to overcome possible road bumps along the route to success.
There are two aspects of a business plan that I deeply appreciate.
First of all, creating a business plan helps to clarify your company’s mission and main goal. Sometimes, there are so many details to consider that your mission and main goal become blurry. But that business plan helps to keep those two main aspects in the forefront of your mind. It helps you to remember that everything you’re doing is meant to support your company’s mission and main goal.
Secondly, I love that a business plan helps you to plan a budget. Before any money is invested into building your mini empire, you have the opportunity to see exactly how much you’re going to spend to get things up and running as well as how much you’re likely to make during the first few months and first year of running your company. Such advance planning provides a feeling of security and helps you to be logical when it comes to making financial decisions in relation to the company.
If you’re interested in creating a business plan, you can simply google “Business Plan Templates” and a host of free templates will appear in the search results.
There are two aspects of a business plan that I deeply appreciate.
First of all, creating a business plan helps to clarify your company’s mission and main goal. Sometimes, there are so many details to consider that your mission and main goal become blurry. But that business plan helps to keep those two main aspects in the forefront of your mind. It helps you to remember that everything you’re doing is meant to support your company’s mission and main goal.
Secondly, I love that a business plan helps you to plan a budget. Before any money is invested into building your mini empire, you have the opportunity to see exactly how much you’re going to spend to get things up and running as well as how much you’re likely to make during the first few months and first year of running your company. Such advance planning provides a feeling of security and helps you to be logical when it comes to making financial decisions in relation to the company.
If you’re interested in creating a business plan, you can simply google “Business Plan Templates” and a host of free templates will appear in the search results.
Did Sara remember to consult a financial advisor before starting her company?
There are a multitude of legal and financial decisions that must be made to ensure that a company is properly functioning. Sometimes, unless we entrepreneurs have either a legal or financial background, it can be challenging to know how to navigate these aspects of our business.
For example, would we do better to function as a sole proprietor, as an LLC, or as a corporation? And, how should we handle taxes? These questions can be answered by a financial advisor or an attorney who specializes in general business and/or taxes.
By seeking out experts in these fields and then implementing their advice, we can make the best decisions possible before starting our companies and continue to make wise decisions that will safeguard our interests once the business opens its doors.
For example, would we do better to function as a sole proprietor, as an LLC, or as a corporation? And, how should we handle taxes? These questions can be answered by a financial advisor or an attorney who specializes in general business and/or taxes.
By seeking out experts in these fields and then implementing their advice, we can make the best decisions possible before starting our companies and continue to make wise decisions that will safeguard our interests once the business opens its doors.
Did Sara forget about marketing and advertising?
Most businesses require an in-depth marketing plan that will ensure the company is advertised in the most efficient way possible and to the right audience. Crafting a well thought out marketing plan can take weeks. It involves ensuring that the right audience is targeted and then figuring out the best way to reel these potential customers in by analyzing them from a psychological perspective. For example, market research may include questions such as: Who are our potential customers? And, are potential customers more likely to be found online or in person? If they’re online, which social media platform do they utilize the most? In real life, what kinds of stores and shops do they frequent? How can my company’s advertisements reach them at these locations? What kinds of hobbies do they have? How can my company’s advertisements reach them while they’re taking part in these hobbies?
These days, to be successful in reaching customers, a company must truly know their customers. This requires market research that leads to the creation of effective advertising.
If you’d like to learn more about effective marketing and advertising, I suggest depending on YouTube. Go to YouTube and in the search bar, type “Advice on Marketing and Advertising” and you’ll see a plethora of free marketing and advertising training videos.
These days, to be successful in reaching customers, a company must truly know their customers. This requires market research that leads to the creation of effective advertising.
If you’d like to learn more about effective marketing and advertising, I suggest depending on YouTube. Go to YouTube and in the search bar, type “Advice on Marketing and Advertising” and you’ll see a plethora of free marketing and advertising training videos.
Did Sara set aside enough money to start her business?
Starting a business typically requires capitol, or funds that cover the cost of start-up fees. So most people either take a few months to save some money, create fundraisers, or request money from investors to ensure that they have enough to cover the cost of start-up fees and the first few months of business operations.
This can be one of the most challenging aspects of starting a business. That said, by consulting with a financial advisor before starting the business and then implementing some of their suggestions, a new CEO can get ahead of the anticipated financial struggles associated with start-up costs.
This can be one of the most challenging aspects of starting a business. That said, by consulting with a financial advisor before starting the business and then implementing some of their suggestions, a new CEO can get ahead of the anticipated financial struggles associated with start-up costs.
***
So, Sara may be discouraged by what’s happened, she may even feel that it was a failure.
But it wasn’t a failure, it was an opportunity to learn. By going through this, Sara is now armed with new information. She knows that the next time she embarks on a new business venture, she needs to create a detailed business plan, consult with a financial advisor, created an effective marketing and advertising strategy to reach customers, and give herself enough time to save money that will cover the cost of start-up fees and the first few months of business operations.
By doing this, she’ll have a better chance of seeing her great idea become a successful business!
But it wasn’t a failure, it was an opportunity to learn. By going through this, Sara is now armed with new information. She knows that the next time she embarks on a new business venture, she needs to create a detailed business plan, consult with a financial advisor, created an effective marketing and advertising strategy to reach customers, and give herself enough time to save money that will cover the cost of start-up fees and the first few months of business operations.
By doing this, she’ll have a better chance of seeing her great idea become a successful business!
