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Tag: business expansion

The Power of Business Credit Unleashed

Posted on by Melanie Rauch
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In the fast-paced business world, success is often measured by various factors, including revenue growth, customer satisfaction, and market share. However, there is one essential ingredient that is often overlooked that holds immense power – business credit. A solid credit profile can be the key to unlocking growth opportunities and ensuring your business thrives in the long run. If you want to understand the importance of a positive credit score for your business, how to use it to your advantage, and how Opus VO, the leading virtual office provider, can enhance your credit reporting experience to give your business the edge it deserves, follow along.

Building a solid foundation for your business requires more than just a great product or service. It demands credibility and financial stability, often assessed by potential investors, partners, and lenders through your creditworthiness. Establishing and maintaining your company’s credit profile is crucial since it can propel your business forward.

How to Establish Business Credit

To establish solid credit in the business world, follow these steps:

  • Get a dedicated business phone number and business address: This is an easy thing to do with a virtual office and doesn’t require a large investment.
  • Incorporate your business or form an LLC (limited liability company). This ensures your personal and business identities will be separate.
  • Get a federal employer identification number. This is a free service offered by the IRS. An EIN acts a bit like a Social Security number for a business entity, yet may change as time goes on.
  • Open a business bank account. Make sure you use the business’s legal name and address.

The Benefits of Having Business Credit

Business credit separates your personal finances from your business finances. By keeping them apart, you protect your personal assets from potential risks and liabilities associated with your business. This separation not only shields your personal credit from any adverse effects caused by your company’s financial performance but also offers professionalism and accountability that can inspire trust in investors.

Business Credit Determines Access to Capital & Funding

Whether you need a loan for expansion, new equipment, or additional staffing, a strong credit profile significantly improves your chances of securing financing at favorable terms. Lenders and financial institutions often rely on your credit score to evaluate your company’s creditworthiness and determine your interest rate and credit limit. By being proactive and taking control of your credit, you show that you can handle financial obligations responsibly, making you a secure risk and more attractive to lenders.

Alternative Funding Sources

Solid business credit opens various business opportunities, such as establishing trade credit with suppliers. Trade credit allows you to negotiate better terms, extend payment periods, and build valuable relationships with vendors. A company with a favorable credit profile is considered reliable and trustworthy, paving the way for favorable agreements and savings.

Why Choose Opus VO?

You may wonder how Opus Virtual Offices ties into this narrative. Opus VO, renowned for its exceptional virtual office solutions, offers a unique and invaluable advantage in business credit reporting. Opus VO offers comprehensive credit reporting as part of their virtual office services for every client as soon as they sign up.

Consistent credit reporting enables you to establish and strengthen your business credit effortlessly. By incorporating credit reporting into their virtual office solutions, Opus VO not only assists you in establishing a professional business presence but also helps build your company credit profile. Every time you utilize Opus VO’s virtual office services, such as mail handling, phone answering, or meeting room rentals, your business credit activity is meticulously reported to Moody’s, enhancing your overall business reputation.

Tips to Build Business Credit

  • Pay vendors early: paying on time can get you a good score on the Dun & Bradstreet PAYDEX, where scores range from 1 to 100. This score is based exclusively on your payment history with vendors.
  • Manage cash flow: when you have good credit, you are eligible for lower interest rates and better terms with vendors. Use credit cards to efficiently manage your company’s cash flow.
  • Monitor your credit report: errors and fraudulent activity can negatively impact your business and make borrowing difficult. Check your credit report a couple of times each year. If you find an error, correct it by filing a dispute with the proper reporting agency.
  • Work with vendors that report payments: Ask the vendors that you work with if they report to credit agencies. If they don’t consider opening accounts with new vendors that do, such as Opus VO.

Opus Virtual Offices

If you want your business to thrive in today’s competitive landscape, you must recognize the importance of business credit. It is a critical component that influences your credibility, financial opportunities, and growth potential. By choosing Opus VO as your virtual office provider, you gain access to world-class virtual office solutions and unlock the added benefit of their credit reporting service. Opus VO’s commitment to empowering businesses with comprehensive credit reporting sets them apart and makes them the ideal choice for entrepreneurs and companies aiming to maximize their potential. Invest in your business’s future today and leverage the power of business credit with Opus VO.

The Checks in the Mail…

Posted on by Melanie Rauch
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Streamline Your Business by ordering checks online. In today’s fast-paced world and global economy, efficiency and professionalism are essential for success. When you combine the convenience of a virtual office with the ease of ordering checks online, you just made your business more fluid and convenient. The need to reorder checks by going into the bank is over. Order checks online with just one click whether you are on the road, at home, or on vacation.

Despite paying most of your business bills via ACH, Zelle, or Chase Pay, the need for paper checks still exists. Physical checks with your business name add an air of establishment to your business, akin to the benefits of having a business address and business number. In this article, we’re going to touch on all the ways ordering checks online for your business can benefit your company.

Professionalism

Nothing is as important as putting up a professional front for your clients and distributors. What better way to do that than with business checks with your company name & address in the upper right-hand corner? A business check shows that you pay attention to detail, which lets your clients know that you will give their business the same attention. A customized check and other business products showcase your brand in a polished and professional manner. When you order checks online, you can customize your check to the smallest detail. Your checks can have your company logo, colors, and business information so that you can create a lasting impression with clients. Whether you opt for traditional checks, high-quality security checks, or stylish designs, physical checks ensure your financial transactions reflect the professionalism of your virtual office setup.

Brand Consistency

Maintaining brand consistency across all aspects of your business is crucial to building trust and recognition. When you order business checks online, you can extend your branding efforts beyond your virtual presence. Incorporating your company logo and design elements into your checks, envelopes, and other business products reinforces your brand identity with every transaction. This consistency enhances your credibility and professionalism, whether you’re dealing with clients, vendors, or financial institutions. Integrating physical checks with a virtual office setup creates a cohesive and memorable brand experience.

Convenience

When you have a virtual office, it makes a statement. It shows that you value flexibility and time-saving benefits. Online check orders align perfectly with this mindset by providing an easy and convenient way to order personalized checks and other necessary business products online. With just a few clicks, you can browse their extensive selection and choose a design that suits your brand. This streamlined process eliminates the need for time-consuming trips to the bank and unnecessary paperwork. Free up valuable time that can now be dedicated to growing your business, by ordering checks online.

Enhanced Security

Security is a top priority for every business, as is the importance of protecting your financial transactions. Most online check companies offer high-security checks incorporating multiple fraud prevention features, such as microprint, chemically reactive paper, and tamper-evident packaging. These measures safeguard your business against fraud and unauthorized transactions. Security checks can give you peace of mind by minimizing financial loss.

Opus VO

Opus Virtual Offices provides virtual office solutions to build professionalism, efficiency, and branding in today’s business landscape. With Opus VO, businesses can enjoy the benefits of a professional business address, mail-handling services, and meeting room access, all without needing physical office space. This flexible, cost-effective solution allows businesses to establish a professional presence and enhance their credibility. When you’re ready to take your business to the next level, order checks online and enhance your company branding and professionalism.

The Time is Now – Do The Thing

Posted on by Melanie Rauch
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We are all guilty. Guilty of pushing off our dreams and aspirations for one simple reason. We are waiting for the right time, waiting for things to fall into place. The fact is, there is never a right time. No one is ever truly ready. But study after study shows that the most successful people in the world don’t wait for the right time to train for that 5K, to start that new business, or to look for a better career. They take a leap of faith and jump in, knowing that they can learn as they go.

The Right Time Doesn’t Exist: Jump in and Learn as You Go

Starting a business, taking on a new habit, and chasing the things that you truly want can be quite daunting. It takes courage, hard work, and dedication. Many aspiring entrepreneurs feel they need to wait for the “right” time to start a new endeavor. This is a skewed belief. Not everything needs to be perfect, the stars don’t have to align. The most successful entrepreneurs know there is no perfect time. No one is ever truly ready for their next adventure. The most successful entrepreneurs jump in feet first and learn what they need as they go.

The Problem with Waiting for the Right Time

One of the biggest misconceptions about starting a business is that you must have everything in place before starting. This includes a solid business plan, a clear strategy, a marketing plan, and enough capital to get started. While these things are important, waiting for the “perfect” moment to start can be a trap that leads to missed opportunities.

The truth is, there will never be a “perfect” time to start a business. There will always be challenges, obstacles, and unknowns. If you wait for the right time, you may miss opportunities or fall behind competitors who have already begun their journey.

The most successful entrepreneurs understand they will never be fully prepared. Rather, they adapt to challenges and find creative solutions to problems as they arise. This allows them to gain valuable experience and learn important lessons that they can apply to future endeavors.

The Benefits of Taking Action

Taking action, even if you’re not fully prepared, has many benefits, such as:

  1. Gaining valuable experience: The best way to learn is by doing. When you take action and start your new business or endeavor, you’ll gain valuable experience that you can’t get from reading books or attending seminars.
  2. Overcome fear: Fear is one of the biggest obstacles people face when they want to start something new. Fear of the unknown, fear of being teased by friends and family, and fear of failure. By taking action, you’ll confront your fears and develop the courage and confidence to overcome them.
  3. Build momentum: Momentum is key to building a successful business. By taking action, you’ll build momentum and make progress toward your goals.
  4. Identify opportunities: Starting a business often leads to unexpected opportunities. By taking action, you’ll put yourself in a position to identify and take advantage of these opportunities.
  5. Create a sense of urgency: When you take action, you create a sense of urgency that can propel you forward. This can help you stay focused and motivated, even in the face of challenges.

How to Overcome Fear and Take Action

Usually, fear is the biggest factor holding you back from chasing your dreams. Here are a few ways to overcome fear and jump into your next endeavor.

  1. Identify your fears: The first step in overcoming fear is to identify exactly what you’re afraid of. Is the fear of failure holding you back? Do you lack confidence? Are you concerned about financial risks? By identifying your fears, you can develop strategies to move past them.
  2. Start small: Starting a business doesn’t have to be an all-or-nothing proposition. You can start small and build from there. For instance, start a side hustle or launch on a small-scale, something that won’t take up more than your weekends.
  3. Seek out mentors: Mentors can be an invaluable resource for aspiring entrepreneurs. Mentors offer guidance, support, and advice as you navigate business challenges. After all, they were once in your shoes and know what it takes to get to the other side.
  4. Take calculated risks: While taking risks is an inevitable part of starting a business, it’s important to take calculated risks. Informed and calculated risks are the best way to move ahead. This means while advocating to jump right in and follow those big dreams, look before you leap.
  5. Embrace failure: You need to see failure as the stepping stone to success. Failure is not a reason to walk away and give up. Instead, it’s a reason to learn a new skill and push yourself out of your comfort zone. Taking action is the only way to overcome this fear. Everyone was a newb at some point.
  6. Have a support system: Starting a business can be lonely and overwhelming. It often requires burning the midnight oil and turning down social engagements. Try to surround yourself with supportive people who will keep you motivated and accountable without judgment. Consider joining a community of entrepreneurs or networking with like-minded individuals.
  7. Keep learning: Starting a business requires continuous learning and adaptation. Stay curious and learn from your experiences, mentors, and industry experts. This will highlight your ability to pivot when needed.

The Perfect Spring Board To Jump in Before You’re Ready

Here are a few business concepts that you can attempt to test the waters. They don’t require a lot of prep work or a significant financial investment. They are also the best fields that you can use to learn as you go.

  1. Freelancing: Freelancing is a great way to start a business without the financial risks or overhead costs associated with traditional businesses. Consider offering your skills as a freelancer on platforms like Upwork, Fiverr, or Freelancer to get started. As a freelancer, you can work as little or as much as you want, and there is always the opportunity to grow when you’re ready.
  2. E-commerce: E-commerce is another business venture that is easy to take on when you’re not quite ready to go full speed ahead. You can open an Etsy shop, become an Amazon vendor, or have your own website where you sell your services. Depending on what you’re selling, you can start an E-commerce business with minimal upfront investment and work on it during the evenings and weekends so it doesn’t interfere with your 9 to 5.
  3. Service-based business: Service-based businesses, such as marketing agencies, graphic design firms, or consulting businesses, can be lucrative and low-cost. Consider offering your skills as a service to clients in your area of expertise. This is a great way to test the waters and see where things go. Your concept may explode and take off or stay a small side hustle.
  4. Content creation: If you have a talent for creating content, consider starting a blog, podcast, or YouTube channel. These platforms can be monetized through advertising, sponsorships, and affiliate marketing.

Virtual Offices

An easy way to set up any of the opportunities mentioned above would be with a virtual office. Virtual offices come with administrative support, provide a prestigious mailing address and allow you to appear as though your company is established and here for the long run. When you get an Opus Virtual Office, you get a slew of services, such as digital mail sorting, real-time call logs, inbound and outbound call transfer, and more, for one low monthly fee of $99. Don’t let your fears hold you back. The right time to start that new business is now. Don’t miss out on that opportunity. Take the leap today!

Calling all Plumbers…

Posted on by Melanie Rauch
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Are you a plumber in need of a designated workplace? Tired of working out of your pickup truck and balancing your cell phone, plumbers’ wrench, and soldering tools while on the job? An Opus Virtual Office can offer you the perfect solution. With a virtual office, your business will be efficient and timely. You’ll never miss a call again while you’re under a sink fixing a clogged drain or knee-deep in a mainline backup. Put your customers first with a virtual office!

Let’s be honest. As a plumber, getting your hands dirty is part of the job. But that doesn’t mean your workspace needs to be messy and uncared for too. A virtual office can give your company exactly what it needs to increase your business and customer satisfaction while satisfying the standards set by the plumbing association in your area.

First, let’s review the benefits a virtual office can bring to your plumbing business. With a virtual office, you won’t need to spend money on a physical space you’ll never use. Plus, you will give your business the appearance of an established company. The days of having payroll for office staff, such as a receptionist, also disappear. With a virtual office, you get the benefits of a physical office without the downside. You’ll get a professional business address, a dedicated business number, and a full-time receptionist to answer and transfer all your calls. When you have a large supply of inventory coming in, someone will be there to sign for your material. Imagine all this happening behind the scenes while your focus stays on the job site.

Let’s not forget that with a virtual office, your customers and their busted pipes, whether it be a sewer main, kitchen sink backup, or leaky tub, will be taken care of promptly and efficiently. In addition to all the administrative support, with a virtual office, you just expanded your work territory to include different parts of the city that would otherwise have been out of reach without any additional expense.

Why is an Opus Virtual Office unique? At Opus VO, we want to support small businesses. We understand the unique requirements and needs of the plumbing industry. We offer many services so your plumbing business can expand and thrive without the hassle of renting your own office space and needing a warehouse to store your extra inventory. After all, any plumber worth their weight has at least a dozen speedy’s in their inventory, right?

A virtual office can also help you secure those big contracts. How? We offer administrative support for your company, so there is an air of professionalism added to your business. Want to put in a bid on that city contract? We got you covered. We offer meeting rooms when needed, full administrative support, and a professional business address for all your company letterheads and contracts. Let’s not forget the unique feature that only Opus VO offers: a business phone number that can be seen on caller ID from your personal cell phone. So your calls will always come from your business line, not your personal cell phone number.

With all the upsides to having a virtual office for your plumbing business, what are you waiting for? You deserve a workspace bigger than the back of your pickup truck. Your clients deserve to have their calls answered professionally and timely. Let’s not forget that a virtual office gives your customers what they are looking for, reliability and promptness.

Opus Virtual Offices is proud to be the #1 virtual office company for the plumbing industry. With over 650 locations nationwide, we have an office exactly where you want to be. Establish or grow your business anywhere you like, with services such as live reception, call transfer, call answering, and full-time administrative support to accept deliveries so you’ll always have the material on hand for every job, plus meeting rooms for when you need to sign those big contracts. Get an Opus Virtual Office today and waive the initial setup fee with code PLUMBER at Opus VO.

Maintain Limited Liability with a Virtual Office

Posted on by Melanie Rauch
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As a business owner, you have a lot on your plate. Something always needs your attention, from managing employees to staying on top of your finances. One aspect of running a corporation that can be easily overlooked, but is essential, is maintaining the corporate veil. This refers to the legal separation between a corporation’s interests and the personal interests of its owners, shareholders & officers. This separation is necessary if you don’t want to be held personally liable for corporate wrongdoing. One way to ensure that you maintain the corporate veil is by using a virtual office instead of your home address for your business. This avoids the appearance of impropriety and ensures there’s no co-mingling between your personal business and your corporation’s business.

What is the Corporate Veil?

The corporate veil is a legal concept that demands the separation of corporate finances, and its actions from the assets of its owners. Simply put, it protects the personal assets of shareholders and officers from being attached to lawsuits or claims against the corporation. To maintain this protection, some thresholds must be met. One threshold is that corporate operations and finances remain separate from personal affairs and finances. In other words, there is never a unity of interests between a corporation and its officers.

The courts may strip the corporation of this protection if the corporate veil is pierced. This means that the assets of corporate officers can be seized to pay for legal damages, debts, and other financial obligations of the business, something no business owner wants.

How is the Corporate Veil Pierced?

There are a few different ways the corporate veil can be pierced. We will focus on the measure the courts call “alter ego liability.” Alter ego liability is found when a court determines that a business and its owners are essentially the same entity. When a court finds alter ego liability, they find a unity of interest between the corporation’s interests and the interest of its shareholders/officers. For example, the officers use the corporation as a shell company for their personal gain. In this case, a court may strip the corporation of its limited liability protection.

Several factors can contribute to a court finding alter ego liability, including the co-commingling of personal and business finances, failure to comply with corporate formalities, or using personal assets to pay for business expenses and vice versa. These actions blur the lines, making it more likely that a court will find the corporate veil pierced.

Why Using Your Home Address Can Pierce the Corporate Veil

Using your home address as your corporate address may effectively blur the lines between your personal life and your business and creates an appearance of impropriety. This may make it challenging to maintain corporate veil protection and increase the likelihood of alter ego liability if a lawsuit or claim against your corporation exists.

For example, let’s say you’re sued for breach of contract. Suppose you use your home address for your corporate address. In this case, the plaintiff’s lawyers may argue that your business is merely a shell company and that you, the corporate officer, and your business are essentially the same entity, thereby holding you personally liable for any corporate wrongdoing or debt. This argument is more compelling when personal and business finances are commingled.

In addition, if you use your home address for your business, you may be more likely to use corporate assets to pay for personal expenses. For example, you pay your home’s electric bill out of your company checking account, or you might use your personal credit card to pay for business expenses or use your personal bank account to deposit business income.

Why Using a Virtual Office is the Best Choice

To minimize the risk of piercing the corporate veil, you must create a clear separation between your business and yourself. A virtual office is the best way to do this without breaking the bank. A virtual office offers more than a business address for your company. It ensures that your corporation is a separate entity from your personal interests. Virtual offices provide privacy protection, as well as create an aura of professionalism for your new venture. They offer flexibility, which allows business owners to work from anywhere while maintaining a professional client-facing image and a clear separation of business and personal interests.

Opus Virtual Offices

Piercing the corporate veil is a serious legal doctrine that can expose shareholders’ personal assets to liability. With a virtual office, corporations and their shareholders/officers can enjoy many benefits while reducing the risk of losing their limited liability protection simply because it will ensure a separation of personal and professional interests.

Opus Virtual Offices is a B2B provider that offers administrative support and a host of virtual services. With features such as digital mail sorting, real-time call log, parcel post receiving, live reception, and meeting rooms on demand, it is the clear choice among virtual office providers. Make the choice that serves your corporation best, use a virtual office, and don’t expose your corporation to risk.

Entrepreneurship, It’s a Lonely Road

Posted on by Melanie Rauch
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Entrepreneurship is a challenging and rewarding journey. While it can be exciting to be your own boss and turn your dreams into reality, entrepreneurs face unique struggles and obstacles. These struggles can range from securing funding, managing finances, managing time, marketing, and branding while maintaining a work-life balance. This blog post will discuss some of the entrepreneurs’ most common struggles and offer practical tips to overcome them.

As an entrepreneur, the challenges can be overwhelming. Here are 6 everyday struggles that entrepreneurs face and some tips on how to overcome them:

  • Financial Pressure: Financial pressure is one of the entrepreneurs’ most prominent challenges. Starting a business can be expensive, and seeing a return on your investment may take time. To overcome this challenge, create a solid business plan and set realistic financial goals.
  • Securing funding: a subset of financial pressures every entrepreneur faces is the challenge of securing the necessary funding to grow their business. One measure you can take to avoid this pitfall is to look for alternative sources of funding. Consider crowdfunding, angel investing, or bootstrapping, along with the more standard forms of funding, such as government grants or SBA loans.
  • Uncertainty: part of chasing your dreams is the uncertainty of it all. Is it the right decision? Are you making good choices? Will you be a success? These are just a few things that run through every entrepreneur’s mind. It isn’t easy to know if your product or service will succeed or if you have the right approach to appeal to your audience. One way to overcome uncertainty is to conduct thorough market research. Seek advice from mentors in the industry, and maintain flexibility when it comes to your strategy.
  • Time Management: solopreneurs know the art of juggling. To succeed as a lone wolf, you must wear many hats and juggle different responsibilities. Time management is crucial for your success. Learn to prioritize your to-do list, which will only serve you well as time passes. Use time management software, create to-do lists, or use a matrix to rank priorities in order of importance to help with time management. One tip that is always beneficial is learning how to delegate tasks to others. This frees up your time to focus on critical things.
  • Loneliness: the road to success is often a lonely one. You will say no to many nights out with friends, parties, and social engagements. This is typically looked at as paying your dues. While there is a place for this, it can leave you feeling burned out, isolated, and alone. One way to beat the loneliness blues is to join a networking group or attend industry events, where you can find a mentor to offer guidance and support. This way, you won’t feel like you’re wasting time and get to enjoy some social interaction as well.
  • Burnout: Entrepreneurs often work long hours and tend to feel they need to do everything themselves when they first start out. This type of work ethic is what leads to burnout. To avoid this newbie pitfall, prioritize self-care and make time for activities you enjoy. Take breaks throughout the day, move your body daily, and learn to live in the present. When you’re working, be 100% committed; when you’re off, be 100% committed.

Opus VO

Entrepreneurship is a challenging journey, but with the right mindset and strategies, you can overcome every struggle and succeed. Remember to stay focused on your goals, seek support when needed, and prioritize self-care to avoid burnout. If you need support, consider a virtual office. With Opus Virtual Offices, you get more than just a prestigious address. You get many hands-on services so you can focus on building your business the way you want!

Burnout Like a Pro, A Humorous Guide to Entrepreneurship

Posted on by Melanie Rauch
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Small business owners are driven and passionate about their work. After all, getting a new venture off the ground takes a tremendous amount of discipline. Sometimes, the amount of self-imposed isolation and late-night hours needed to start a successful business can lead to burnout. Burnout is a state of emotional, physical, and mental exhaustion that results from prolonged stress. It is not a state of zen!

If you’re an entrepreneur feeling the growing pains of starting your own business, here are 5 ways small business owners can avoid burnout with a side of humor. After all, they say, laughter is the best medicine. So, without further ado, here’s the entrepreneur’s guide to finding the funny side of burnout.

  • First off, let’s start with the obvious: caffeine. There’s nothing quite like that feeling of a fresh cup of coffee in the morning to get your day started. But when you’re burning the candle at both ends, caffeine can quickly become your best friend or your worst enemy. Before you know it, you’re mainlining espressos to keep up, and your body is running on fumes. Yet, you still can’t resist that sweet, sweet java. It’s like a warm hug for your soul, even if your stomach is churning and your hands are shaking.
  • Second is that knawing feeling of overwhelm in the pit of your stomach. As a new business owner, you’re likely the only one around. You manage your own finances, do your own marketing, act as a customer service rep, and you’re the one to deliver the goods. Something is always pulling at you, demanding your full attention. That feeling of wishing you could clone yourself to get more done in a single day is a sign of being overwhelmed by your responsibilities. If you take a step back to see the bigger picture, hopefully, you can see the humor in the situation and know that you’ve become a master juggler who deserves center-ring at the circus!
  • Let’s not forget exhaustion. Whether it’s due to stress, excitement, or just too much caffeine, entrepreneurs are notorious for sacrificing a much-needed solid night’s rest to push their business forward. But hey, sleep is overrated anyway, or so they say! In actuality, sleep is essential. Yet when you’re neck deep in burnout, sometimes the only thing you can do is laugh or cry. So find the humor in walking around like a zombie, stumbling around with your eyes half closed and the brain fog accompanying exhaustion.
  • Then there’s the constant hustle. As an entrepreneur trying to bootstrap your new venture, you may find yourself in a continual state of motion. Always searching and looking for more. You may begin to feel like you’re a hamster on a wheel, running as fast as you can but not achieving your goals. You need to stop and slow down, but then again, that hamster wheel can serve double duty as your daily cardio.
  • Lastly, there’s the impending fear of failure. When you’re all in on your idea, the stakes are high. You’ve poured your heart and soul into your business, and the idea that it may all come crashing down is petrifying. Sometimes the only way through is to look at the situation with a humourous lens. This will help you put everything into perspective.
Realize this feeling of overwhelm is only a season, so you can allow yourself to take a step back and breathe. While having a sense of humor can make the process easier, here are 5 practical tips you can implement to make the life of a budding entrepreneur a bit easier to master:
  • Set realistic expectations: Rome wasn’t built in a day, and neither are successful businesses. Setting realistic expectations can help manage overwhelm and help you sidestep burnout. Try to break large tasks down into smaller, more manageable ones.
  • Prioritize self-care: when you are laser-focused on your professional goals, it’s easy to let self-care fall by the wayside. This is the wrong move. Take the time to do something you enjoy that you find relaxing. Taking the time to show yourself some love can alleviate stress and allow you to come back stronger.
  • Delegate: Instead of doing everything yourself, learn to hand off smaller tasks to others. A virtual office is a great way to do this as a new business owner or startup. When you have a virtual office, they handle many daily tasks that lead to overwhelm. Virtual office companies, such as Opus Virtual Offices, offer features such as live call answer, parcel post receiving, meeting rooms upon demand, and most importantly, a prestigious business address, so your new business has an air of authenticity.
  • Take time off: taking regularly scheduled breaks throughout the process is essential to avoid burnout. Take a long weekend, a siesta, or that vacation you’ve always dreamed of. This will allow you to come back stronger than before, with a renewed sense of energy.
  • Seek support: burnout can be isolating. There’s no need to go it alone. Seek support from friends, family, or a therapist. Join associations or other small business communities where you can talk to people walking the same walk as you. After all, they know best what you’re going through and may be able to offer advice that has worked for them in the past.

Opus Virtual Offices

Life as an entrepreneur can be a lonely endeavor, but it doesn’t have to be. Consider a virtual office if you are overwhelmed by the responsibilities of starting a new business. Not only does a virtual office save you money, but it’s a great alternative to a physical office. They offer services that will alleviate the stress of keeping a business running. Opus VO has over 650 locations nationwide, making it the clear choice. Wishing you the best of luck in your new endeavor!

Are golden handcuffs holding you back?

Posted on by Melanie Rauch
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You have big dreams and big ideas. You want to open your own business and be your own boss. But something is holding you back. Sometimes it’s fear of the unknown or a lack of confidence. Other times it’s the possibility of being laughed at by close friends and family. Or it may be that you feel bound by the golden handcuffs of your current position. These “golden handcuffs” may prevent you from chasing your dreams, whether they are starting your own business or vying for a promotion. Getting stuck in a comfortable role that pays well is easy, even when it doesn’t bring you closer to achieving your goals.

Golden handcuffs is the term used to describe the financial allurement and benefits that encourage highly compensated employees to remain with their current organization/company rather than moving up the ladder with a new company or branching off as an independent. These golden shackles typically come in the form of stock options, SERPs, large bonuses, company cars, health insurance, or other financial incentives that make the position too good to leave.

Embracing challenges and dedicating yourself to pursuing your professional wants can be a rewarding experience that’s most definitely worth the required effort and sacrifice. While all the added benefits of your current position make life easier, don’t let them make your current employment so attractive that you lose sight of what you really want out of your professional life. It’s important to recognize that staying in a comfortable situation may prevent you from reaching your full potential and pursuing your dreams.

Think of these points before you let yourself get shackled by golden handcuffs:

  1. You’ll never know if you don’t try:

Failure is the stepping stone to success. You need to adjust your perspective. The fear of failure can be paralyzing, but you’ll never know if you don’t try. You may have an excellent idea for a business that could be successful, but you won’t know for sure unless you take the risk and start. Even if your first attempt doesn’t work out, you’ll learn valuable lessons that will help you succeed in the future.

  1. The feelings of regret are worse than the embarrassment of failure:

Many people choose comfort over the risk of the unknown. They are the ones who suffer from the pain of regret over those who carry the weight of failure. You don’t want to look back and say what if? Take those risks and accept the outcome as a part of life. Don’t miss out on the opportunities that will pass you by if you don’t take that chance.

  1. You’ll have more control over your future:

Build your empire! When you own your own business, you control your future. You make decisions about the direction of your business and the types of projects you want to work on. You also have the freedom to create a work-life balance that works for you rather than being at the mercy of someone else’s schedule.

  1. You’ll learn valuable skills:

Starting your own business requires various skills, from marketing and sales to finance and operations. Even if your first attempt isn’t successful, you’ll learn valuable skills that can help you in other areas of your life. These skills can be transferable to other businesses and industries, making you a more attractive candidate for future employers.

  1. You’ll experience greater financial rewards:

While starting your own business comes with risk, it also has the potential for greater reward. When you own your own business, your earning potential is limited only by the success of your business. When you work for someone else, your earning potential is determined by your salary and benefits package. If you have a great idea and the drive to make it happen, you could earn more than you would in a cushy job, not to mention the rewards that will come from the personal satisfaction of being a success.

If you dream of owning a business, don’t let golden handcuffs hold you back. Don’t allow the fear of failure or the comfort of a well-paying job keep you from pursuing your dreams. You’ll never know if you don’t try. Following your dreams can give you more control over your future, help you learn valuable skills, and potentially lead to greater financial rewards than you ever dreamed of. So jump in feet first, take the risk, and see where it takes you.

When you’re ready to start your business, consider a virtual office Instead of investing in a physical lease. It’s the smart choice, so you can funnel the funds you do have to client acquisitions rather than paying rent. With an Opus Virtual Office, you get a prestigious mailing address for your business, you get to maintain your privacy, and you receive a slew of administrative services that will make running your business easy! Opus VO has over 650 locations, so that you can find the perfect location for your new endeavor.

Business Entities – Which is the right one for you?

Posted on by Melanie Rauch
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Choosing the correct business entity is an important decision that will have significant financial and legal implications for your company. There are several business entities, each with unique advantages and disadvantages. This article will explore the most common business entities, and their pros, and cons. 

Sole Proprietor: 

A sole proprietorship is the most common form of ownership for many new businesses. This is the legal entity used by most of those who want to maintain total and complete control over their company. This is also the most straightforward business entity to create. A sole proprietorship is when a company is owned and operated by a single individual who is personally responsible for all the business debt & liability. This means creditors can attach the owners’ assets if the company gets sued or goes bankrupt. On the flip side, the owner maintains total and complete control over every aspect of the business, and there is no double taxation on profits.  

Pros:  

  • Easy and straightforward to set up 
  • Total control over every aspect of the business 
  • Profits are taxed as personal income  

Cons: 

  • The owner personally carries all liability for the business 
  • Limited ability to raise capital 
  • The company usually dies with the owner

Partnership: 

This is a replica of the sole proprietorship entity with the addition of multiple owners who share in the profits and losses. There are two types of partnerships: 

  1. General Partnerships: all partners are personally liable for business debt and obligations equally
  2. Limited Partnerships: the amount of obligation is not split evenly between the partners; it’s dependent on their investment in the company.  

A partnership entity is used by small businesses that want to share the risks and rewards of ownership with others.  

Pros: 

  • Inexpensive and straightforward to set up 
  • Shared responsibilities regarding finances and management 
  • Shared profits and losses with partners 

Cons: 

  • Partners are personally liable for business debts and liabilities 
  • Possible disagreements between the parties involved can lead to the breakdown of the business
  • Limited ability to raise capital 

Limited Liability Company (LLC): 

Small businesses usually create LLCs when they want personal asset protection without dealing with all the formalities of a proper corporate structure. An LLC is a blend of two entities – an S Corporation and a partnership. LLC owners get the best of both, making this one of the most popular business entities. LLC owners are called members who carry no personal liability of the company yet still benefit from pass-through taxation.

Pros: 

  • Personal protection from company debt and liability  
  • Flexible management structure 
  • Pass-through taxation 

Cons: 

  • More expensive to set up than a sole proprietorship 
  • Complex regulations & formalities must be followed 
  • Limited ability to raise capital  

Corporations: 

Corporations are separate entities owned by shareholders. A corporation can raise capital by issuing stocks and bonds; shareholders don’t carry personal liability for the company debt. This is often the entity of choice for companies looking to raise capital.  

Pros: 

  • Shareholders have limited liability for company debt and obligation 
  • Ability to raise large amounts of capital 
  • Continuity of the company regardless of ownership and transfer of stock to other members  

Cons: 

  • The most expensive entity to create 
  • Large amounts of state rules and regulations must be followed 
  • Double taxation – shareholders are taxed on their income, and the corporation is taxed on profits  

Non-profit Corporations: 

A non-profit corporation is usually reserved for charitable or educational purposes or other public benefits. This is the entity of choice for organizations that want to impact the community or the public rather than concern themselves with making a profit. Non-profits are exempt from federal and state income tax and may receive tax-deductible donations.  

Pros: 

  • Tax-exempt status 
  • Ability to receive tax-deductible donations 
  • Ability to pursue a mission rather than make a profit

Cons:

  • Created for a specific purpose
  • Requires a lot of documentation to receive the special status of a non-profit

Opus Virtual Offices is a B2B provider of virtual administrative services that can help you run your business more efficiently. If you need a prestigious corporate address in a new market due to corporate growth, Opus has over 650 locations across the U.S. and Canada. Wherever business opportunity strikes, Opus VO is there! Regardless of which entity you choose, Opus VO can work with you to expand into new markets, grow your customer reach, and take care of the daily minutia that goes into running a successful business.

Imposter Syndrome, You’re Better than You Think!

Posted on by Melanie Rauch
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You’ve put the time in, worked hard, burned the midnight oil, and finally received that promotion you were after. Yet, instead of feeling confident and at ease with the success you’ve worked hard to achieve, you feel undeserving and allow self-doubt to creep in. You start questioning your abilities and allowing that negative voice to tell you you’re unqualified for your new position. If this sounds familiar, you’ve experienced imposter syndrome at some point in your career.

What is Imposter Syndrome?

Imposter syndrome is a psychological phenomenon that causes people to feel inadequate, as though they’re failures or undeserving of their success, despite evidence to the contrary. Although imposter syndrome can seep into every aspect of life, traditionally, it occurs in the workplace, predominantly affecting women in leadership roles.

5 Signs of Imposter Syndrome:

  1. You put in 110% – 24/7/365, and you’re exhausted. You go in early and stay late. You allow work to bleed into your time off and attend every meeting, including the optional ones.
  2. You’re an overthinking perfectionist. You are hard on yourself while cutting others’ slack and find it hard to let go of the little things.
  3. You’re constantly concerned that others will find out you’re not as good at your job as they think you are. You keep waiting for the other shoe to drop.
  4. You’ve convinced yourself that your colleagues are at the top of their game while you doubt your abilities.
  5. You find it hard to accept compliments and praise from colleagues or superiors. You allow your inner critic to drown out any feelings of accomplishment.

How To Use Imposter Syndrome to Your Benefit:

Imposter syndrome is not fun. No one wants to live in a world filled with self-doubt. Don’t despair; all hope is not lost. Follow these tips and learn how to feel confident in what you do.

  1. Take the time to learn a new skill in your field. This will eradicate those feelings that you don’t know enough or are not up to par.
  2. Be kind, not to those around you, but to yourself. Our inner voice affects how we think. Talk kindly to yourself, the way you would to a good friend. Self-compassion is a way to keep imposter syndrome at bay.
  3. Learn a new craft or skill. This can build your self-esteem and confidence in other arenas and make you feel better about yourself.
  4. If you can’t change that inner dialogue on your own, it may be time to seek professional help. A therapist or coach can help uncover the emotions behind why you feel inadequate in the workplace. Once those emotions are sorted out, the hope is that any feelings of inadequacy will dissipate.

Sometimes, imposter syndrome may be a sign of overwhelm. As entrepreneurs, it’s easy to feel alone on the journey to success. One way to resolve this is with a virtual office. Not only can a virtual office provide you with a prestigious corporate address, but it may also offer many services that alleviate the burden of running your own business, freeing up your time to focus on other things, such as client acquisitions. Opus Virtual Offices offers many premium services for a low monthly fee of $99. With services like live call answer, call transfer, digital mail sort, real-time call logs, and meeting rooms on demand, you are sure to feel as though you’ve got it all under control, and you can keep that imposter syndrome under wraps!

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