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What Your Success Formula is Missing



formula for success

I’ve learned a lot in my time as an entrepreneur. It’s been more of a journey than expected and my life experience has brought me here with a different perspective than many. Coming from a mainly academic background and being more of an analytical mind, I believed you examine the data, put in enough to get the goal and you quickly reach it.

Funny enough, I think it’s why I mastered every video game and how to get an A in graduate school level class with very little effort beyond what I knew was required. Entrepreneurship is nothing like that, and just what you think is enough work and a sure thing most likely isn’t.

The point of this is not to drive you into apathy and tell you not to be an entrepreneur, but rather it’s to show how to actually reach the summit instead of spending all your time in the basecamp. Success isn’t always necessarily about approach or level of self-development. It’s not to say that all those things are not important, but they are not the defining characteristic of what separates someone like Gary Vaynerchuk and Grant Cardone from someone that will never achieve; the defining element is tenacity, its drive, its obsession.

“Whether you’re 9 or 90, stop trying to fix the things you’re bad at, and focus on the things you’re good at.” – Gary Vaynerchuk

I’ve noticed that when I am in action, things don’t seem to bother me as much and even more seems to go right. You may call that momentum of all the collected activities, but I call it operating on another level. It’s when I stop taking as much action, not working towards my goal that the depressed feeling tends to get me. You know exactly what I mean you may have had 10 great experiences that day taking yourself and your business forward, but one that did not go right, and it may not be that bad, but you dwell on it, then you’re left feeling unsuccessful.

Less than a year ago, I started a podcast called Create Your Own Life, that took off like wildfire, created high-level press coverage and helped me to meet many of the people I admired most. I’ve noticed an interesting point along that journey, and it relates to the level of action I took and when I took it. I worked really hard on getting high-level entrepreneurs and had great success at it, but I learned a different viewpoint along the way about what success really looks like.

I read a book a number of years ago by Darren Hardy called “The Entrepreneur Rollercoaster,” and I think it’s the best way to describe the journey that I and many of my colleagues have been on over the years. At first, I learned that you can not always manage events but you can always manage your reaction to them, later I learned that was not even fully true.

I worked hard for certain opportunities to promote my show and certain guests I thought would be my big break, the single thing that would get me to greatness. I realized that single moment and the “overnight success” does not actually exist, and for every Justin Bieber that is discovered on YouTube there are millions of people betting everything they have on success that will never happen.

“Success means having the courage, the determination, and the will to become the person you believe you were meant to be.” – Darren Hardy

I learned that big breaks don’t happen to you, but they happen because of you. Full-responsibility is the only way that will ever happen, having the tenacity to want the success of my mission as bad as breathing that’s when success happens. Previously, I learned that my greatest error was every time I thought the big break was coming, I didn’t just ease off the accelerator, I let it go completely.

Not only did the big break not happen, but I was further away than when I started; most likely taking even more time to reach my current destination.

Real success actually comes from hard, consistent work and keeping the accelerator pushed to the floor. As for those events that you think will be you big break; grab as many of them as you can, because it’s from consistently shooting for the stars that you reach the moon.

Do you want to be successful? Don’t stop when you think you made it, push even harder; that drive is what separates real entrepreneurs from the mere mortals.

Jeremy Slate is the founder of the Create Your Own Life Podcast, which helps entrepreneurs live the lives they know they were meant to.  He studied literature at Oxford University, Specializes in using Online social networking to build an offline relationship and was ranked #1 in iTunes New and Noteworthy and #26 in the business category. After his success in podcasting, Jeremy Slate and his wife, Brielle Slate, found Command Your Brand to help entrepreneurs get their message out by appearing as guests on podcasts.



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How Entrepreneurs Are Harnessing LLCs to Launch Successful Startups

LLCs have unique advantages for starting up and growing a successful business



why you should set up an LLC

In my entrepreneurial journey, I’ve learned that LLCs have unique advantages for starting up and growing a successful business. But, before delving into the advantages, it’s essential to grasp the fundamentals of what an LLC is and how it operates. 

What is an LLC?

An LLC is a hybrid business entity that combines the liability protection of a corporation with the pass-through taxation of a partnership or sole proprietorship. This unique blend provides entrepreneurs with the best of both worlds: personal asset protection and simplified taxation.

One of the most significant advantages of an LLC is its limited liability feature. This means that as the owner, my personal assets are shielded from any liabilities or debts incurred by the business.

In the event of lawsuits or financial obligations, only the assets of the LLC are at risk, offering me peace of mind and protecting my personal wealth.

Advantages of Forming an LLC

Flexibility in Management and Structure

Another aspect of the LLC that appealed to me was its flexibility in management and structure. Unlike corporations, which have rigid hierarchies and formalities, LLCs allow for a more relaxed approach to governance. As the founder, I have the freedom to structure the company in a way that suits the needs and goals of my startup.

For instance, LLCs can choose to be managed by their members (owners) or appoint a manager to oversee operations. This flexibility enables me to maintain full control of the business or delegate management responsibilities to trusted individuals while retaining ownership.

Additionally, LLCs are not bound by strict meeting requirements or extensive record-keeping obligations, reducing administrative burdens and allowing me to focus on building and growing the business.

Pass-Through Taxation and Financial Efficiency

One of the most attractive features of an LLC, particularly for startups, is its pass-through taxation. Unlike corporations, which are subject to double taxation (taxation at both the corporate and individual levels), LLCs pass profits and losses directly to their members’ personal tax returns.

This tax efficiency not only simplifies the filing process but also allows for greater flexibility in managing cash flow and reinvesting profits back into the business. As an entrepreneur, minimizing tax liabilities and maximizing financial efficiency are critical components of long-term success, and the pass-through taxation feature of an LLC aligns perfectly with these objectives.

Enhanced Credibility and Professionalism

Establishing an LLC can also enhance the credibility and professionalism of a startup. Unlike sole proprietorships or general partnerships, which may be perceived as informal or less legitimate, an LLC provides a formal business structure that instills confidence in customers, investors, and partners.

By operating under the umbrella of an LLC, I can present my startup as a reputable and established entity, which can open doors to opportunities such as securing financing, attracting top talent, and forging strategic partnerships.

This enhanced credibility can be a significant advantage, particularly in competitive industries or when seeking to differentiate my startup in the market.

Protection of Intellectual Property and Brand Assets

For startups built around innovative ideas or unique intellectual property, protecting these assets is paramount. An LLC offers an additional layer of protection for intellectual property and brand assets, safeguarding them from infringement or unauthorized use.

By registering trademarks, copyrights, or patents under the name of the LLC, I can establish legal ownership and enforce my rights more effectively in the event of disputes or infringement claims. This protection not only preserves the value of my intellectual property but also enhances the overall stability and longevity of the startup.

Steps to Form an LLC

Let us now look at the general steps to form an LLC for your business:

Step 1: Choose a Name for Your LLC

Selecting a unique and distinguishable name is the first step in forming an LLC. Ensure that the name you choose complies with the rules set by your state’s LLC division. Typically, the name must end with “Limited Liability Company,” “LLC,” or an abbreviation of these terms.

Additionally, the name should not infringe on the trademarks of existing businesses.

Step 2: Designate a Registered Agent

A registered agent is an individual or entity appointed to receive legal documents, such as lawsuits or subpoenas, on behalf of the LLC. The registered agent must have a physical address within the state where the LLC is formed.

For instance, if you are forming an LLC in Texas, ensure that your registered agent has a physical address in Texas.

This role is crucial for ensuring that the LLC remains compliant with legal requirements and maintains good standing.

Step 3: File Articles of Organization

The Articles of Organization, also known as a Certificate of Formation or Certificate of Organization in some states, is a document that formally establishes the LLC. You’ll need to submit this document to the appropriate state agency, usually the Secretary of State or Division of Corporations.

The articles typically include basic information such as the LLC’s name, address, registered agent details, and the purpose of the business.

Step 4: Create an Operating Agreement

While not always a legal requirement, drafting an operating agreement is highly recommended for LLCs. This document outlines the ownership structure, management roles, voting rights, profit-sharing arrangements, and other important aspects of the LLC’s operations.

Even if you’re the sole owner of the LLC, having an operating agreement in place can help clarify expectations and prevent disputes in the future.

Step 5: Obtain an Employer Identification Number (EIN)

An Employer Identification Number (EIN), also known as a Federal Tax Identification Number, is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to identify your LLC for tax purposes.

Even if your LLC doesn’t have employees, obtaining an EIN is necessary for opening a business bank account, filing taxes, and conducting other financial transactions.

Step 6: Obtain Necessary Permits and Licenses

Depending on the nature of your business and its location, you may need to obtain various permits, licenses, or certifications to operate legally. These requirements can vary widely from one industry and jurisdiction to another. Common examples include business licenses, zoning permits, health permits, and professional licenses.

In my entrepreneurial journey, the decision to establish my startups as LLCs has been instrumental in mitigating risks, optimizing financial performance, and positioning my ventures for long-term success.

By harnessing the advantages of the LLC structure, I’ve been able to navigate the complexities of entrepreneurship with confidence and resilience, laying the groundwork for a bright and prosperous future.

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Build a Strong IT Team with These Smart Hiring Tips

Without dedicated IT staff, your company may not be able to function as efficiently or effectively



Hiring tips for tech industry

The role of IT staff in your company is not only essential but also ever-evolving. As your business grows, so does the need for qualified IT staff and more robust recruiting solutions.

After all, from maintaining and troubleshooting the computer systems that keep your business running smoothly, IT staff also help employees stay connected and productive by providing technical support at all times. (more…)

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5 Important Legal Tips Every Entrepreneur Should Know

With a firm commitment to legal knowledge, you pave the way to grow your business sustainably



legal tips for entrepreneurs

Embarking on the entrepreneurial path is a courageous venture that calls for a diverse skill set to achieve enduring success.

While creativity, drive, and strategic vision are paramount, integrating legal insight into your entrepreneurial toolkit can be a game-changer.

This comprehensive guide delves deeper into the five critical steps that can empower you to navigate the intricate legal landscape and propel your venture toward prosperity. (more…)

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6 Hacks to Boost Your Productivity as a Business Owner

To improve how much you get done each day, it’s smart to establish routines and use careful planning



productivity for business owners

Entrepreneurs are always looking for ways to get more done with the time and resources they have. Business owners can use clever productivity tricks to break these limits and make the most of their projects. (more…)

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