Short Paper Entrepreneurial Approaches

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School

Southern New Hampshire University *

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Course

405

Subject

Business

Date

Feb 20, 2024

Type

docx

Pages

3

Uploaded by nylouburth

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Who do you think should be my target audience, and why   ? Your target audience should include new or improving enterprises looking for guidance   related to technology,   and editorial skills. My   first   target audience would be major companies, and my second target audience woule be   startups looking for my services. Many   organizations, whether new or established, face day-to-day challenges such as   service issues that can be resolved with technical writing or   editing which are the services that I offer. What are key strategies you would recommend I use to acquire and retain clients, and why do you think they would be beneficial?  " If you can build your social presence by conveying a strong brand representation and like ability, these attributes could eventually contribute to customer acquisition as much as your product does." (Nielsen, 2018). By that, you need to understand that increasing your online presence on social media will be one tactic. Social media is becoming the new normal in the globe, and many enterprises, and organizations are using it to connect with their customers and, in some cases, request services. Always remember that maintaining a social media presence is crucial, even if it might not be the number one greatest strategy to attract new clients. Thus, make sure to use the services you provide to expand your social media profile. Another strategy will be to boost your consumer acquisition strategy through the use of paid search advertising. The the cost of each click advertising is still quite effective at promoting your brand and the services you provide, even though it does involve some upfront investment. One final crucial method to consider when obtaining clients for your business is to spread the word by building a referral plan. What important legal documents do you think I will need to address for starting a small business, and why? A business license is one of the first vital legal documents you should obtain before starting your small business. Depending on your state, county, or city, make sure to be informed on
what business permissions and licenses you will need. The second legal document is a business registration. Another important legal docutument is to register your business in accordance with the regulations controlling business registration in your location and the structure you have in mind. The third legal document is a project contract or estimate. To accomplish this, you must draft contract which constitutes a legal document that outlines the core components of a client contract, including: the scope of the project, any important deadlines, estimated cost, how and when payments will be made, who will retain ownership of the finished product, what marks the successful completion of the project or, how will the project end if one party needs to cancel early." (Bara, 2019). Another one is the privacy policy and the website terms and conditions if you plan on having a website. One last legal document is an invoice since you can't get paid, and your firm will need it which will list all of the services provided and the sum due. What important tax implications should I keep in mind as I transition from being a full-time employee to a self-employed business owner, and why? As a full-time worker, you have payroll taxes deducted from your paycheck to cover your portion of Social Security and Medicare; your company covers the rest. You are in charge of paying all of your Medicare and Social Security taxes when you work for yourself. Additionally, you could have to make quarterly income tax payments. Your income and previous year's tax liability will determine this. The W-2 form will no longer be issued to you; instead, you will need to file a schedule C together with a 1040 form to record your business-related costs.
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