5 Strategic Reasons For A Marketing Budget

        A marketing budget is a crucial component of any business's financial planning. It is an essential tool that enables business owners to effectively and efficiently allocate resources to marketing activities, ensuring that they achieve the best possible return on their exposure investment. In this blog post, we will discuss the importance of a marketing budget and how it can impact your business success.

1. A marketing budget allows business owners to identify their priorities and set clear objectives for their marketing campaigns. By allocating a specific dollar amount for marketing activities, business owners can make informed decisions about the marketing channels they wish to focus on and determine the appropriate amount of resources to allocate to each channel. This helps businesses owners stay focused on their marketing objectives and goals.

2. A marketing budget helps businesses owners manage their finances more effectively. It enables business administrators and managers to strategically plan their marketing expenses every quarter, ensuring that they don't overspend or run out of money midway through a marketing campaign. This is particularly important for small business owners that may have limited financial resources.

3. A marketing budget enables business owners to measure their marketing efforts and evaluate their success. By tracking their marketing expenses and monitoring their results, business owners and administrators can determine which marketing channels are most effective for their business and adjust their budget accordingly. This helps businesses optimize their marketing campaigns and ensure that they are getting the best possible return on their investment.

4. A marketing budget can help businesses stay competitive and stand out from their competitors. By investing in marketing activities that are relevant and impactful to their target audience, businesses can build brand awareness, attract new customers, and retain existing ones. This can help businesses to stay ahead of their competitors and maintain a strong market position.

Finally, a marketing budget can help businesses to identify areas for improvement and make necessary adjustments. By monitoring their marketing activities and measuring their success, business owners can identify areas that need improvement and make necessary changes. This can help businesses to continuously improve their marketing efforts and stay ahead of changing market trends and consumer behaviors.

So as you can see a marketing budget is a crucial component of any business's financial planning. It enables businesses to identify their priorities, manage their finances more effectively, measure their marketing efforts, stay competitive, and identify areas for improvement. As such, businesses that prioritize their marketing budget are more likely to succeed in today's competitive marketplace.

Do you have a marketing budget? Do you need help figuring out how to best invest your marketing dollars? We can help! email info@bizboom360.com Subject line: Marketing Budget 

WE HELP YOU 

• Discover - Identify Problems
• Evaluate - Development Strategy 
• Implement - Actionable Solutions

YOUR SUCCESS IS OUR SUCCESS!!

The Power of Social Sales

Social selling is a relatively new approach to sales that leverages the power of social media to connect with customers, build relationships, and ultimately, drive revenue growth. Rather than relying on traditional sales techniques, such as cold calling or door-to-door sales, social selling involves using social media platforms like LinkedIn, Twitter, and Facebook to engage with customers and prospects.

At its core, social selling is about building relationships with customers by providing them with valuable content and insights, rather than simply pitching products or services. By doing so, social sellers can establish themselves as trusted advisors, making it more likely that customers will turn to them when they are ready to make a purchase.

One of the key advantages of social selling is that it allows business owners, consultants and salespeople to connect with clients and customers on their own terms. Instead of interrupting potential customers with unsolicited sales pitches, social sellers can engage with them on social media platforms where they are already spending time. This makes it easier to start conversations, build relationships, and ultimately, close deals.

In addition, social selling allows business owners to tap into the power of social proof. Social proof refers to the idea that people are more likely to trust and buy from companies that are recommended by their peers. By building a strong presence on social media and leveraging the endorsements and recommendations of existing customers, social sellers can create a powerful sense of social proof that can help drive sales.

Another key advantage of social selling is that it allows salespeople to access a wealth of data and insights about their customers and prospects. Social media platforms provide a treasure trove of information about people's interests, preferences, and behaviors, which can help salespeople tailor their sales pitches and messages to better resonate with their target audience. By leveraging this data, "social sellers" can create more effective sales strategies and drive better results.

However, it's important to note that social selling isn't just about using social media to sell products or services. Rather, it's about building long-term relationships with customers by providing them with valuable content and insights. This means that  business owners as "social sellers" need to be committed to providing value to their customers, even when there's no immediate sale on the horizon.

Overall, social selling is an increasingly important approach to sales in today's digital age. By leveraging the power of social media to connect with customers, build relationships, and provide value, business owners can create a more effective and efficient sales process that can drive revenue growth over the long term. Whether you're a salesperson looking to boost your results, or a business owner looking to improve your overall sales strategy, social selling is a powerful tool that should not be overlooked.

If you do not have a social media marketing and advertising strategy to drive sales it's time to start thinking about it. If your existing strategy isn't working we can help you review, modify and implement and individualized action plan for your business. We offer a free 30 Minute Discovery Call 

Email info@BizBoom360.com  Subject Line: Social Selling 

WE HELP YOU 

• Discover - Identify Problems
• Evaluate - Development Strategy 
• Implement - Actionable Solutions

YOUR SUCCESS IS OUR SUCCESS!!

7 Key Strategic Planning Steps for Business Owners

Strategic planning is critical for small businesses to succeed and grow in a competitive marketplace. It involves defining the company's goals, objectives, and strategies, as well as the actions required to achieve them. A well-crafted strategic plan helps a business owners identify a business strengths, weaknesses, opportunities, as well as possible threats, AND prepares business owners and administrators to respond effectively to changing market conditions.

Here are 7 Key Strategic Planning Steps for Business Owners:

1. Define your mission and vision: 

Every small business should have a clear mission and vision statement that outlines its purpose and goals. The mission statement describes what the business does and why it exists, while the vision statement defines what the business wants to achieve in the long run.

2. Conduct a SWOT analysis: 

SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. Conducting a SWOT analysis helps small businesses understand their internal and external environment, which is critical for developing a successful business strategy.

3. Set SMART goals: 

Goals should be Specific, Measurable, Attainable, Relevant, and Time-bound. SMART goals help small businesses stay focused and track progress towards achieving their objectives.

4. Identify Key Performance Indicators (KPIs): 

KPIs are measurable metrics that help small businesses track their progress towards achieving their goals. For example, a small business might set a KPI for customer acquisition cost or website traffic.

5. Develop Strategies Based on the SWOT analysis:

Set goals, and KPIs, small businesses should develop strategies to achieve their objectives. Strategies may include marketing, product development, cost-cutting, or expanding into new markets.

6. Allocate Resources: 

Once the strategies are defined, small businesses need to allocate resources, including human resources, financial resources, and technology resources, to execute the plan effectively.

7. Monitor and evaluate progress: 

Small businesses should regularly monitor their progress towards achieving their goals and adjust their strategies as needed. Evaluating the effectiveness of the plan helps businesses stay on track and adjust course when necessary.

As you can see strategic planning is essential for small businesses to succeed in today's competitive marketplace. By clearly defining your business vision, mission and goals conducting a SWOT analysis, setting SMART goals and KPIs, developing strategies, allocating resources, and monitoring progress, a small business can position itself for long-term success.

If you need assistance with a developing a strategic plan, revising and modifying your existing plans we can help! Schedule a Free 30 Discovery Call today.

Email Info@BizBoom360.com  Subject Line: Strategic Planning

WE HELP YOU 

• Discover - Identify Problems
• Evaluate - Development Strategy 
• Implement - Actionable Solutions

YOUR SUCCESS IS OUR SUCCESS!!

5 Local Business Leads Generation Ideas

Finding local business leads can be a challenging task, especially if you are just starting out or have limited resources. However, with the right strategy and tools, you can identify potential customers in your local area and convert them into loyal clients. Here are some effective ways to find local business leads: 

1.   Use Online Directories: Online directories such as Google My Business, Yelp, and Yellow Pages are excellent resources for finding local business leads. You can search for businesses in your area and use filters to narrow down the results. Once you have identified potential leads, you can reach out to them via email or phone to introduce yourself and offer your services. 

2.   Attend Networking Events: Attending local networking events can be an effective way to meet other business owners and potential clients. Be sure to bring plenty of business cards and prepare a brief elevator pitch about your services. Engage in conversations with other attendees and exchange contact information with those who express interest in your business. 

3.   Offer Referral Incentives: Word-of-mouth referrals can be a powerful tool for generating new leads. Offer referral incentives to your existing clients to encourage them to refer their friends and family to your business. This can be in the form of a discount or a free service. 

4.   Use Social Media: Social media platforms such as Facebook, LinkedIn, and Twitter can be valuable resources for finding local business leads. Join local groups and engage with other members by commenting on their posts and sharing valuable information. You can also use targeted ads to reach potential clients in your area. 

5.  Partner with Other Local Businesses: Partnering with other local businesses can help you tap into their existing customer base and generate new leads. Identify complementary businesses that share your target audience and explore ways to collaborate on marketing campaigns or promotions. 

Stay focused and give yourself time. Finding your ideal customer within local business leads requires a combination of online and offline strategies. By leveraging the power of online directories, networking events, referral incentives, social media, and partnerships with other local businesses you will expand your reach and organically connect with potential clients in your area over time. Remember to track your results and adjust your approach as needed to ensure continued success.

If you are struggling with business leads for your business we can help guide you in the process of implementing the above reference strategies.

Email Info@bizboom360.com  Subject Line: Lead Generation.

WE HELP YOU 

• Discover - Identify Problems
• Evaluate - Development Strategy 
• Implement - Actionable Solutions

YOUR SUCCESS IS OUR SUCCESS!!

NJ Business Capital Needs

New Jersey,  known as “The Garden State” has a thriving business environment, with a diverse range of industries that drive it’s local economy. However, one of the most pressing challenges for businesses in New Jersey is accessing the capital they need to start, grow, or sustain their operations.

For many businesses, obtaining funding is critical to their success. Whether it's to purchase new equipment, expand their facilities, or hire new employees, having access to capital is essential for business growth. Unfortunately, many businesses in New Jersey struggle to secure the funding they need, which can hinder their growth and development.

One reason businesses in New Jersey face challenges when it comes to capital is due to the high cost of living and doing business in the state. As a result, many lenders and investors may view New Jersey as a high-risk location for investment, which can make it more difficult for businesses to secure funding.

To address this challenge, businesses in New Jersey may need to explore alternative funding sources. For example, they may consider seeking funding from non-traditional lenders, such as online lenders or crowdfunding platforms. These types of lenders may offer more flexible terms and/or lower interest rates, which can make it easier for businesses to secure the capital they need.

Another option for businesses in New Jersey is to explore government-backed funding programs. The state of New Jersey offers a variety of loan programs and grants designed to help businesses in the state access the capital they need. These programs do have strict requirements to qualify and take longer to obtain but could offers favorable terms and lower interest rates, making them an attractive option for businesses that are struggling to secure funding through traditional channels and have the time to wait out the lengthy application process.

In addition to exploring alternative funding sources, businesses in New Jersey can also take steps to improve their chances of securing funding. For example, they can work to improve their credit score, present a solid business plan, and demonstrate a clear plan for how they will use the funding they receive. By presenting a strong case for why they need funding to their local bank or credit union and how they plan to use it, businesses can increase their chances of securing the capital they need.

In conclusion, access to capital is a critical issue for businesses in New Jersey. With high costs and a competitive market, securing funding can be challenging. However, by exploring alternative funding sources, exploring government-backed programs, and taking steps to improve their chances of securing funding, businesses in New Jersey can increase their chances of success and continue to grow and thrive.

If you need unrestricted funds to grow your business, we offer our clients the opportunity to access REVENUE BASED or ASSET BACKED BUSINESS FUNDING in as little as 24 hours in many cases. With a fast and simple online application you can review the best offer available to you from multiple lenders with no hard credit inquiry! For more information email info@bizboom360.com You’ll be glad you did!

Join Our Team Call 973-861-5843 Ask for Wilma

WE HELP YOU 

• Discover - Identify Problems
• Evaluate - Development Strategy 
• Implement - Actionable Solutions

YOUR SUCCESS IS OUR SUCCESS!!

New Jersey Non-Compete vs. Confidentiality Agreements

I am often asked to sign noncompete agreements by some business owners when we sit down for a business development consultation and I think that oftentimes a CONFIDENTIALITY AGREEMENT is a better instrument to protect my potential client business idea but today I want to clarify the differences between a non-compete and a confidentiality agreement and what a noncompete agreement can and cannot protect you from in New Jersey.

In New Jersey, noncompete agreements are governed by state law and are subject to certain restrictions and limitations. 

Under New Jersey law, noncompete agreements must be reasonable in terms of their geographic scope, duration, and the nature of the restrictions placed on the employee. Specifically, the agreement must be no broader than necessary to protect the employer's legitimate business interests, and must not be harmful to the public or unduly burdensome on the employee's ability to earn a living.

New Jersey courts have generally held that noncompete agreements are enforceable only if they are narrowly tailored to protect the employer's trade secrets, confidential information, customer relationships, or other legitimate business interests. Noncompete agreements that are too broad in scope, too long in duration, or too restrictive in nature are likely to be deemed unenforceable by the courts. 

It's also worth noting that as of January 2020, New Jersey law prohibits employers from using noncompete agreements with certain categories of employees, including low-wage workers and independent contractors. 

Overall, if you're an employer in New Jersey considering using a noncompete agreement, it's important to consult with a qualified attorney who can help ensure that your agreement complies with state law and is tailored to your specific business needs. Similarly, if you're an employee who has been presented with a noncompete agreement, it's a good idea to seek legal advice to understand your rights and options.

Now, a confidentiality agreement, also known as a non-disclosure agreement (NDA), is a legal document that creates a confidential relationship between parties, where one or more parties agree not to disclose certain information that they have learned during the course of their business relationship.

In New Jersey, a confidentiality agreement must meet certain requirements in order to be enforceable. 

Some requirements for a NJ Confidentiality Agreement include:

1) Identification of the parties: The agreement should clearly identify the parties involved in the agreement.

2) Definition of confidential information: The agreement should define what information is considered confidential and should include a detailed description of the types of information that will be protected.

4) Duration of the agreement: The agreement should specify the duration of the confidentiality obligation. This can be for a set period of time, or it can be indefinite.

5) Exclusions: The agreement should include exclusions for information that is already known to the recipient, information that is already in the public domain, and information that is required to be disclosed by law.

6) Remedies for breach: The agreement should specify what remedies are available in the event of a breach of the confidentiality obligation, including injunctive relief and monetary damages.

It is important to consult with a qualified attorney when drafting or reviewing a confidentiality agreement to ensure that it meets all of the necessary legal requirements and provides the necessary protections for your business.

I am not an attorney and I cannot advise you on what is the best option for your business but I strongly recommend you think about it and set aside a budget to consult an attorney. 

 

WE HELP YOU 

• Discover - Identify Problems
• Evaluate - Development Strategy 
• Implement - Actionable Solutions

YOUR SUCCESS IS OUR SUCCESS!!

7 Cold Calling Strategies for Success

Cold calling is a marketing technique where a business owner, consultant or  salesperson contacts individuals or businesses that they have no prior relationship with in order to introduce them to a product or service. 

Here are 7 Strategies for Effective Cold Calling:

Do your research: Before making any calls, research your target market to learn as much as you can about their needs and pain points. This will help you tailor your pitch to their specific needs.

Prepare your script: A well-prepared script will help you stay on track and ensure you don't forget any key points. However, avoid sounding robotic or reading from a script word-for-word. Instead, use it as a guide to keep the conversation focused.

Start with a strong opening: You have only a few seconds to capture the prospect's attention, so start with a strong opening that engages them and makes them want to hear more. 

Listen more than you talk: It's important to let the prospect talk and express their needs and concerns. Listen carefully and ask relevant questions to show you understand their needs.

Keep it short and sweet: Respect the prospect's time and keep your call concise and to the point. Don't overload them with too much information, and be prepared to answer any questions they may have. 

Follow up: If the prospect is interested but not ready to commit, follow up with them in a timely manner. This shows that you're serious about building a relationship and that you value their business.

Be persistent but respectful: Don't give up after one unsuccessful call, but don't be overly aggressive or pushy. Respect the prospect's decision and be open to hearing their feedback.

Finally, remember, cold calling can be challenging, but with the right approach and mindset, it can also be a powerful tool for building your business. Do you have a "practice" partner or "cold calling" coach? Personally, I practice in front of the mirror all the time!

WE HELP YOU 

• Discover - Identify Problems
• Evaluate - Development Strategy 
• Implement - Actionable Solutions

YOUR SUCCESS IS OUR SUCCESS!!

10 Soft Skills to Accelerate Your Career

Hard skills get you hired but soft skills get you promoted in business and in life. So what are "soft skills" ? Soft skills are the combination of people skills, social skills, communication skills, emotional intelligence, and personality traits that make it easy to get along and work harmoniously with other people. Sounds easy but its usually something most of us have to work act consistently and consciously to get good at. 

11 Soft Leadership Skills to Accelerate Your Career:

1) Communication

• Listen without interruption.
• Speak in a positive tone. 
• Pay attention to body language.

2) Persuasion

• Identify what others care about.
• Create stories that resonate with them
• Communicate these stories with brevety and emotion.

3) Negotiation

• Know your worth.
• Listen carefully to the other person.
• Understand what the other side wants.
• Propose solutions that benefit both sides.

4) Relationship Building 

• Helps others unconditionally.
• Find common interest or goals.
• Add value to the relationship.

5) Empathy

• Take genuine interest in others.
• Acknowledge their feelings.
• Look at things from their perspective. 
• Never judge and find ways to be supportive.

6) Positive Attitude

• Never gossip.
• Never complain.
• Criticize sparingly.
• Always speak well of others.

7) Team Work

• Avoid claiming all credit.
• Celebrate other people's wins.
• Praise team members generously and publicly.

8) Conflict Resolution

• Avoid accusations and arguments.
• Take a step back when you are upset.
• Understand why you are upset.
• Think about the consequences of your actions and proceed accordingly.

9) Time Management

• Learn to prioritize.
• Learn to delegate.
• Leart to say no.

10) Work Ethic

• Take responsibility for your work.
• Always show up and deliver on time.
• Always honor your commitments.
• Never deflect blame onto others.

At BizBoom360 One Stop Solutions we aim to provide professional advice, guidance and actionable solutions to overcome barriers and obstacles. We work closely with aspiring entrepreneurs, small business owners and nonprofit leaders to help them reach their goals. To book a free 30 minute discovery call email info@BizBoom360.com

 

2023 Changes to NJ Cannabis Business Rules

 

There are several new changes to the rules that govern the cannabis industry in New Jersey: Three new license types will soon be available: Class 3, wholesalers; Class 4, distributors; and Class 6, delivery licenses. The criteria for priority applications have been reordered with all Social Equity, Diversity-owned Businesses, and Impact Zone applications — including those for annual and conversion licenses — receiving review before all other applications. There won't be statewide restrictions on cultivation licenses as of February 22nd, 2023 (your municipality may still have restrictions). After February 22nd, 2023, cannabis license holders will be able to hold a cultivator license, a manufacturer license, a retailer license, and a delivery service license at the same time.  License holders will be able to have only one of each and in any combination.  Additionally, wholesale license holders can also hold a distributor license.  Expanded alternative treatment centers may cultivate, manufacture, retail, and deliver. To learn more visit: New Jersey Cannabis Regulatory Commission takes actions on applications process and cultivation caps

2023 Legal Requirements for Temporary Help Service Firms & Their Clients

 

A new New Jersey law is making changes to records keeping and reporting requirements for temporary help service firms and for the client companies that employ their workers. The law covers many people in temporary work assignments, with some exceptions. In brief, the law has several key requirements. These take effect on August 5th, 2023 unless otherwise noted. Temporary help service firms must be certified by the Division of Consumer Affairs within the New Jersey Department of Law and Public Safety. These firms must now provide workers with a statement that contains certain required information in English as well as the language identified by the worker as their primary language. Takes effect May 7th, 2023. These firms must create certain records relating to their temporary workers and must keep these records for six years from their date of creation. These firms and their clients may not charge temporary workers for their transportation to or from a worksite, with certain exceptions. These firms may not obstruct their workers' rights to seek employment elsewhere, including with their clients, and may not inhibit their clients from hiring those workers. These firms and their clients may not retaliate, through discharge or in any other manner, against any worker who exercises their rights under this law. Takes effect May 7th, 2023. Employers may not enter into a contract for temporary help services with a company that is not certified by the Division of Consumer Affairs. Employers are responsible for verifying the registration status of a temporary help service firm. To learn more visit

Bill A1474 Aa w/GR (2R) Session 2022 - 2023

WE HELP YOU 

• Discover - Identify Problems
• Evaluate - Development Strategy 
• Implement - Actionable Solutions

YOUR SUCCESS IS OUR SUCCESS!!

6 Ways You Can Find New Clients

 

There’s a good chance if you’re a small business owner like I am, your brain is already focused on what your business will look like by the end of 2023. One big area that I think about is growth. How can I sustainably grow my business? Where should I seek out new opportunities? How can I build a great team and lead my team to the next level?

It can be overwhelming to think about these things all at once, which is why I’m sharing with you my plan and some tried and true tips if some of your goals for 2023 is to drum up new business and take on new clients. I think the very first thing we all need to know is where to find the right people for our business.

In a perfect world, new clients would seek YOU out – but if you aren’t at that point yet, don’t worry. It can take some time and experience to get there. In the meantime, here are 6 ways you can find new clients at any time.

👋 Reach out to your network.

You’ve got to start somewhere, so it might as well be with people who already know and like you! Your network could include former coworkers, friends, family, or volunteer or social organizations you belong to and even former employers. Don’t be discouraged if friends and family don’t immediately support you!

🤓 Be a helpful resource online.

One method for finding new clients through social media is by joining a Facebook Group such as this one. Engage in conversations and dedicate yourself to being a useful RESOURCE. That way, once an opportunity comes up, you’ll be a natural fit as you’re already someone that has built trust and credibility in the group.

📍Focus on local clients.

Connect with local businesses either in person or by reaching out to them on social or through email. It’s important to mention the fact that you’re local as that automatically builds connection and gives you something in common. In my case my best clients happen to be in Florida because that’s where I built my prior business and fortunately that has worked out for me.

💬 Ask for referrals.

Current clients are your best advocates. They know exactly what it’s like to work with you and can attest to the stellar services you provide. If they’re happy with your work, they should have no problem letting others know how great you are to work with, too!

📬 Try out cold emails or messaging.

Hear me out: there are plenty of non-cringey ways to use cold emails to get new clients. The first step is to do your research. Find out who the best person to contact is and figure out a way to personalize your email to them. Whatever you do, don’t send a canned email — that is the quickest way to end up in someone’s trash folder.

⚡️Follow up with past clients.

Just like your current clients, past clients also know exactly what it’s like to work with you, so the know, like, trust factor is already there. This makes it even easier to land new projects without the added pressure of pitching yourself and your services.

These are just some of my tried and true methods and places to find new clients. But there are plenty of creative ways to land more clients! Experiment and put yourself out there. Once you have a steady stream of client work coming in, you’ll have a solid base to work from and can build your business from there.

Eventually, your work will speak for itself so you can stop searching and maybe even have a waitlist of clients who found YOU because of the great work you’ve produced just like us! These tips also work great for nonprofit fundraising, sponsorship and event marketing.

 

If you found value on this post LIKE & SHARE

WE HELP YOU 

• Discover - Identify Problems
• Evaluate - Development Strategy 
• Implement - Actionable Solutions

YOUR SUCCESS IS OUR SUCCESS!!

Do You Know Your Google Search Ranking?

 

Is your business listed in Google? Do you know your Google Search Ranking? Have you ever thought "why does google hate me?" You're a good business owner, treat people right and offer excellent service or an excellent product. So why is your business not easily found on Google or any other search engine? Are you tired of watching your competitors get more business?

Today I am sharing 3 Tips to Turn Things Around in as little as one week!

TIP 1: Build local citations.  *Citation Factors - When the overall set of citations a local business has developed contains inaccurate, conflicting or duplicate information, it can negatively impact local rankings. Additionally, a business which has not developed a competitive number of citations on high-quality, relevant platforms may find itself at a disadvantage compared to more motivated nearby competitors. There are over 90  different sites to host your business citations.  *A business citation is also known as a business directory listing.

TIP 2: Have a Landing Page or Website. At the very least have a landing page or One-Page Website. Have you ever searched online for a product or service and then went and purchased from the business without a website? Plus, Google will “crawl the web” and find your site which is good for your overall ranking. You can do this yourself but just remember, you're not a website designer and you have a business to run. Set up a FREE consultation with me so we can discuss your options or reach out to a reputable web designer of your choice.

TIP 3: Blogging or Posting to Social. are both great ways to organically attract users to your business. The easiest way to organically attract users is by creating content (in your blog or social posts) with words and phrases that match commonly searched terms — keywords — that relate to your industry and your business. Use hashtags and create reels.

I'd love to share some other strategies for your business with you. As you probably saw by now, I know a thing or two about what I am talking about. You might be wondering... "Are you just trying to sell me something?" Well, the straight answer is yes, BUT only if I can actually help you increase your web traffic and customer activity. That's why I believe in providing value in advance, for free, sharing useful tips and the ingredients for success but if you want the full recipe AND the secret sauce we a going to have to talk.

Am available by appointment only and I only work with 6 clients at a time during the duration of our retainer agreement so that I can give your business the attention it deserves. Don’t wait. My calendar fills pretty fast email info@bizboom360.com

Business Formation Documents Required in NJ

In New Jersey, the following documents are typically required to form a business:

Articles of Incorporation: This document establishes the basic information about the corporation, such as the company's name, purpose, and the number and classes of shares it is authorized to issue.

Registered Agent: A registered agent is a person or business entity that is designated to receive legal documents on behalf of the corporation.

Business License: A business license is required for most businesses operating in New Jersey.

Employer Identification Number (EIN): This is a federal tax identification number that is required for businesses that have employees or will be required to file certain business tax returns.

Operating Agreement or By-laws: This document outlines the rules and regulations for the corporation's internal management and governance.

Sales Tax Permit: If the business will be selling tangible goods, it will need to obtain a sales tax permit from the New Jersey Division of Taxation.

Zoning and land use permits: Depending on the nature of the business and its location, it may be necessary to obtain zoning and land use permits.

It is important to note that the specific documents required may vary depending on the type of business, such as sole proprietorship, partnership, LLC, S-Corp or Corp, and the exact location of the business. It is always best to consult with a business attorney for specific guidance.

What is a dba or "doing business as" filing?

 

A Doing Business As (DBA) filing is the official way of registering a business name with either a state or a local jurisdiction (such as a county). Often a DBA name is commonly referred to as an assumed name, trade name or fictitious business name.

Why a DBA is important – DBAs allow general partnerships and sole proprietorships to conduct business under a name other than the owner's or owners' personal name(s). For Corporations, Limited Liability Companies (LLCs), Limited Liability Partnerships (LLPs), Limited Partnerships (LPs) as well as Nonprofit Corporations, filing a DBA allows them to transact business using a name other than the official company name that is included in the incorporation documents.

Once the DBA filing is filed, the business can use the name as its official business name and:

1. ·        Open a business bank account.
2. ·        Create stationery or business cards.
3. ·        Develop advertisements and/or list the company in directories.
4. ·        Undertake transactions on behalf of the company.

Choosing the Right Registered Agent Service for Your Business

 

These companies specialize in the business formation process and will offer registered agent services to LLCs, corporations, and other business entities that are required to have a registered agent.

They can add value to startups by providing online access to service of process and providing tools to assist with the ongoing compliance requirements LLCs and corporations face with prices ranging from approximately $40 a year to $300 or more.

Consider the following guidelines when choosing a registered agent service:

• Always be available during business hours to ensure that they’re able to receive important, hand-delivered documents.
• Make sure the staff are professionally trained experts who can also properly handle all service of process papers.
• Be able to deliver crucial documents to you as needed.
• Be located with a physical office address in the states in which you currently operate and plan to do business.

If you need to register your company in multiple states, then you should look at national registered agent services.

If you only do business in one or two states, then you should look at less expensive agent services within those states.

Determine how much mail you think you will receive. Expect to receive extra marketing mail in the beginning if starting a new business. Existing small businesses normally do not receive much mail unless doing something out of the ordinary.

Check if your annual fee includes free mail forwarding. Some agents offer unlimited First-Class Mail forwarding (and probably charge $150 or more), while others include very limited mail forwarding for free. Some agents may charge you on a per-use basis. Make sure to find out how much it costs to forward the mail.

Some agent services allow you to use their address as your business address, while others may not. Get more information if this is a requirement.

Key Points to Remember 

For LLCs and corporations, a registered agent service is essential to maintaining good standing and keep your business running without encountering compliance issues.

Compliance requirements can be both time and labor intensive, often requiring the completion of lengthy and sometimes confusing forms using information from various sources. By using a registered agent service for your business, you will be confident that you can avoid risk of non-compliance so you can avoid penalties and fees by the state as well as save time to run your business. 

A registered agent service also provides many benefits of privacy, convenience, and staying on top of all legal and government documentation in a timely manner for your business.

9 Reasons to Use A "Registered Agent" Service For Your Business

A commercial registered agent is a company that specializes in receiving Service of Process on behalf of businesses nationwide. They will receive Service of Process on behalf of your company and then forward it to you by mail at any address you’d like. Most of these companies will also fax or email your documents if preferred. 

By using a commercial registered agent service, you have the assurance that there will always be someone available during standard business hours at the registered address to take delivery of notices and other documents. 

The registered agent service will promptly forward notices and other documents received to you in a timely manner. 

For some startup owners, it is well worth the fee to not have to track the official notices and annual report due dates with the state. Also, all your important documents will be kept in one place and you don’t have to bother keeping track of notices. 

When considering a registered agent below are some situations for which using a registered agent service provider may be the best choice:

1) You don't have a physical location with the business you’re forming. It is legally required to have a registered agent with a physical address in the state of formation. A PO box is not an acceptable physical address. By using a professional registered agent provider with an office in the state will satisfy this requirement.

2) You have a PO box or a private mailbox as your only address. You cannot use that as your registered office. The registered office must have a street address.

3) You do business in multiple states. For your company to operate business in states other than your state of formation (home state), you need a registered agent and registered office in each of those states. Through using a registered agent service, one company is handling compliance documentation for you in each state so you can concentrate on your business.

4) Your address changes often. You are required to keep the registered agent’s address updated with the state. Changing this information requires a formal state filing and may also require that a fee be paid. There are penalties for failing to maintain your LLC or corporation address and it can result in large fees because of important documents not being received by the company. It also requires you remember to update the information. By using a registered agent service provider as your registered office, instead of your company’s business address, you never have to worry about this.

5) Your business is home-based. The registered agent address is available on public records, which means anyone can access it. A registered agent service can reduce the amount of unsolicited mail your business gets.

6) You want to maintain privacy. A service of process is often delivered by local law enforcement. Most businesses do not want the police to show up in front of customers, employees, or neighbors (for home-based businesses) and serve them notice that they are being sued. That is where a registered agent service ensures you receive any service of process discreetly.

7) You don't have normal business hours. The registered agent for a business must be available during normal business hours to accept delivery of all documents. If you set your own hours or travel often for business a registered agent service will ensure you never miss any document.

8) You don’t have a permanent work location. If your business requires you to move around frequently for clients and you act as your company’s registered agent, you can miss important documents being delivered. A registered agent service will make sure important documents will reach you wherever you are.

9) Avoid the risk of non-compliance. A registered agent service will help you stay in compliance, avoid unnecessary state penalty fees, and maintain your company's good standing in your state of formation and/or qualification.

One of the key aspects of using a commercial registered agent is the ability to organize documents and deliver them quickly and discretely to small business owners.

Some paperwork that is delivered on behalf of the state is sensitive in nature. For example a small business is served with a lawsuit and does not have a registered agent. This paperwork would then be delivered directly to the business's location instead of the registered agent address. If you have employees or customers, it could negatively impact the way that they view the business because you’ll be served in front of an audience. 

Luckily, commercial registered agent exercise caution when delivering paperwork. They will deliver the materials to the company, carefully organize it in a manner that allows the small business owner to review them privately. This gives small business owners peace of mind in knowing that there are not likely to be any moments where submitted paperwork could embarrass them publicly.