5 Tips for Starting Your Own Business

Being your own boss, working the hours you want, and making the money your hard work deserves isn’t a pipe dream anymore. Over the next five years, there’s an estimated 40,000 jobs being created in the medical billing field alone. With just a few tips you can get your own company off of the ground! 1. Write a Business Plan Before jumping into the deep-end of becoming your own boss, do an honest self-assessment of yourself and what you would like to accomplish by starting your own business. Ask yourself what your goals are in the next 12 months and over the next several years....

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The Pros and Cons of Franchising

There were nearly one million franchises in operation during 2014. America’s pre-packaged businesses have steadily grown over time as entrepreneurs buy into proven success. It is important that you consider franchising not to be a fool-proof business model. Success over time has equipped franchises with set processes that have both pros and cons for any potential owner. Pro: A Proven Brand The reason you may have decided to franchise is also the same reason as to why franchising can be so successful: brand recognition. A franchise succeeds where a start-up may struggle, by already...

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How the Economy Is Affecting the Healthcare Industry

We are currently in a transition where healthcare is now required by law and in doing so, the government has provided a means to strengthen our economy while improving our world class healthcare sector. You may not realize just how closely our healthcare industry is tied to the economy, but countries with economic strength have a healthier population. Life expectancy increases by 10 percent in nations with an annual economic growth of 0.3 percent. A nation’s spending power on developing healthcare systems reflects its populace’s medical needs and economy’s growth....

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Should I Incorporate My Business?

Whether you’re considering going into business or currently run your own company, one of the options you have available to you is deciding to incorporate. The public gives incorporated businesses a high level of legitimacy. That is the tip of the iceberg for benefits afforded to incorporating. Separating Yourself from Your Business Most businesses start as self-proprietorships and in the eyes of the federal government, there is no difference between you and your business. By incorporating your business you separate and protect each entity’s personal assets. Now, as an owner, you have a...

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Franchising vs. Building a Brand: An Introduction

The crossroads you’re at when deciding to go into business for yourself is incredibly exciting. You have carefully assessed the business environment and narrowed down your next career step: either build your own brand or buy into a franchise. Before deciding to invest your money and your life into one or the other, let us set the stage for what both choices entail. Defining Brand and Franchising A brand is the known identity of a company in terms of products and services they offer, including the essence of what a company stands for in terms of service and other intangible consumer...

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