When you make the commitment to expand and improve your business, you need the best talent available. You will be limiting your future growth if you don’t tap into the skills of remote freelancers available all around the world. Voices notes that veteran entrepreneurs agree that hiring freelancers has many benefits, including the potential to create a talent network specific to your needs. By simplifying the process into four easy steps, as Blu Dragonfly outlines here, you will have an actionable plan for building a happy and productive team of international freelancers for your business.
Lay Administrative Groundwork
Taking care of some key administrative tasks before introducing new employees or freelancers to your business will save you trouble in the long run. You will want to have your financial affairs in order, which may entail opening a business bank account for processing payments to your future freelancers.
Establishing a sustainable business structure is also important, so you may consider forming a limited liability company that will be subject to certain tax advantages and other flexibility benefits. You can avoid costly lawyers by using an LLC formation service to establish a business structure that complies with your state’s laws.
Determine the Type of Freelancer You Need
As a business owner, you should differentiate between the help you need locally and the tasks you can source to remote freelancers. Job Hunt points out that some common freelance fields include web development, accounting, and writing. When hiring remote workers for these tasks, be sure to think about the type of individual you would like to keep on your team long-term. You will be more likely to find a fruitful business partner in a freelancer with a skill set that can scale well into future projects. It is equally important to consider how consistent an individual’s work is with your existing brand design and voice.
Find and Hire Freelancers
Social media and freelance marketplaces are great platforms for advertising work opportunities with your business. If you prefer to scout out potential workers yourself, you can search online job boards for remote workers. For example, you could use Guru or similar sites to hire freelancers from Denmark. When you need to pay your workers, consider using a reliable low-fee money transfer service instead of typical payment platforms and expensive international wire transfers.
Maintain Communication and Productivity
Completing your team of freelancers is not the end of your involvement in a business project. You have to continue to manage your team and may need to facilitate communication between several individuals across various time zones. Determine your team’s preference on a centralized communication channel, be it email or a third-party messaging app.
When collaborating on documents, you may need to make significant text or formatting edits to PDFs. To make this less of a hassle, try using an online conversion tool that automatically converts a PDF to Word, so you can quickly and easily edit it. Just upload your PDF, convert the file, start working in Word, and then save it as PDF when you’ve finished editing it.
With an outline for building a productive team of freelancers, you can tackle any business project with the best professionals from around the world. Your remote workers will be happier and more effective knowing that their team is being thoughtfully managed. Should you decide to expand your business, you might even use your prior experience to efficiently oversee multiple teams of international freelancers.
Blu Dragonfly creates relevant, meaningful, and personalized brand assets that ring in harmony with each other. Connect with us today to find out more! (214) 714.5344
Great turnout for the first McKinney City Circle Happy Hour this evening. Thank you to Lloyd Dobson for organizing this monthly networking event. If you missed the April meeting, don’t worry. We’ll be meeting again next month on the first Wednesday of the month. Join us at the next meeting on Wednesday, May 4th. Grab a drink, grab dinner, and enjoy casual networking with Veterans and Veteran supporters! RSVP here.
When it comes to operating a successful small business, organization, advanced planning, and solid communication skills can all help ensure you’re building your operation on solid footing. If you’re a veteran-owned business, networking is another path to business success. The Dallas, Ft. Worth Veterans Chamber of Commerce is an exceptional place to meet people and learn new approaches for advancing your venture.
Plan Your Business Evolution
You can get started on a firm footing by ensuring all of your business startup fundamental functions are in place. Start by developing a comprehensive business and marketing strategy that outlines all key operational functions. This includes everything from your incorporation structure to obtaining a business license and insurance to developing a customer cultivation strategy and managing your budget. You can get assistance through the U.S. Small Business Administration Office of Veterans Business Development and through the Senior Corps Of Retired Executives (SCORE).
A small business has a number of moving parts, and good organization and time management skills will serve you well. Create regular schedules for yourself and your employees and use a project management tool to ensure you’re collaborating well and staying on top of project timelines. Utilize software and applications to your benefit and encourage others in your workgroup to do the same. Whether it’s an accounting program or using loans API to retrieve information on your current liabilities and loans, these are key ways to keep your business financially solvent and fiscally healthy.
Whether you’re communicating with customers, vendors, suppliers, or employees, good and effective communication techniques can go a long way toward ensuring everybody is operating from the same set of information. According to the National Center for the Middle Market, your marketing messages should be well defined and should target a specific target demographic. Employees should receive clear direction in the form of business policies and job performance directives. Set expectations in writing, whether it’s an employee onboarding and training handbook or best practices for dealing with customers and vendors.
Track Your Competition
In addition to identifying your own target demographics and finding the best possible ways to reach them, Business News Daily says recognizing what your competition is doing and looking for ways to differentiate yourself is critical. You need to ensure that you’re offering appropriate price points and high levels of service that are either different or better than your competitors. Regularly survey customers to get feedback and track the performance of all of your marketing vehicles to help you understand which ones perform best. Regularly revisit your business and marketing strategies and make tweaks as necessary to ensure you’re staying on track.
Create a Culture of Innovation
Your business plan should include a strategy for outside-the-box innovative thinking and approaches to growing your business. Attend industry conferences and join organizations and trade groups like chambers of commerce or industry associations where you can develop professional skills and learn new tips and tricks from other professionals in your industry. Encourage employees to brainstorm and bring new ideas to the table, and resist discounting something just because it has never been done before. This will help ensure that you remain on the cutting edge and stay competitive and viable in the marketplace.
Take Advantage of Veterans Resources
If you’re a veteran business owner, there are a number of ways that you can use this to your advantage. Look into veteran-owned business loans, grants, and other funding opportunities. Don’t be shy about advertising yourself as a veteran-owned business. This is a great way to attract the attention of both business customers and other consumer demographics that are interested in supporting veteran-owned companies. You may find your veteran status opens a number of doors – use the opportunity to grow your company and help others succeed.
Launching a small business and keeping it successful requires a great deal of time, effort, and energy. Plan well, play to your strengths, and make a commitment to continually monitor and evolve your process to stay competitive in the marketplace.
The Dallas, Ft. Worth Veterans Chamber of Commerce provides business-building, networking, and volunteer opportunities, and is home to a wide range of startup resources. Reach out today to learn more!
The state of Texas has been reported to have the second-largest economy in the United States when looking at the gross domestic product (GDP). At the end of 2021, Texas managed to have a GDP of two trillion dollars, making it one of the best and most beneficial economic climates not just in America, but in the whole world.
Such a bustling economy is fuelled by the gargantuan efforts made by top companies that are pioneering a variety of industries in the Lone Star State. Thanks to all of the great opportunities Texas provides to new and established business owners, so many unique and innovative businesses are operating in the state, which ensures that a plethora of different business industries are creating large amounts of economic growth.
From agriculture to information technology, Texas is home to it all, and there are some key industries that have driven Texas’ economy to become what it is today.
An area of work that requires hard work, dedication, and a lot of physical effort, the construction industry is one of the most crucial areas of business, especially in Texas. As Texas is constantly growing and developing, the construction industry is there to facilitate said growth through the building of houses, office spaces, retail stores, and more. With so many people making the move to Texas, there is always a need for construction work.
This industry employs over 700,000 people and it is one that does not require a plethora of tertiary education and degrees. The open nature means that the industry is free to grow quickly and swiftly, as it is in Texas.
When it comes to agricultural commodities, Texas is one of the leading producers in the entire state. The farms there are the top producers of hay, dairy products, sheep, and horses. Alongside that, the state is very well-known for its top-quality fruits, vegetables, and grains. The entire country relies heavily on Texas, thanks to their agricultural expertise and exportation.
Contributing trillions of dollars to the United States’ GDP, the agricultural industry in Texas is continuously growing and there seems to be no end in sight as this type of business is one of the cornerstones in the entire state and country as a whole.
Texas is a tourism hotspot, and for this reason, the state managed to employ over a million people. Thanks to this industry, job creation is at an all-time high in Texas, when with lockdown tensions easing, more peace of mind is established, and people are finally free to travel again.
Over 7 million wildlife tourists visit Texas every single year. The hospitality industry gives business opportunities to hotels, restaurants, bars, wildlife parks, and more. This industry is able to cater to the needs of som nay different business owners, making it one of the best and most well-received in the state
Information Technology (IT) Industry
The future is here and now, and it comes with so many digital advancements that allow businesses to operate both in the physical space, as well as on the internet through online markets. Businesses are also using a variety of different tech devices and applications from tablets, laptops and WiFi, to social media, websites and different online programs and functions.
Thanks to this digital revolution, the IT industry is bursting with new and innovative businesses that can help with data analytics, tech repairs, providing the best and newest equipment and more. With over 17,000 tech companies in Texas, big and small businesses are making a mark in the state, creating jobs for over 200,000 talented individuals.
Business is clearly booming in Texas, the state is open to entrepreneurs who belong to all walks of different unique and exciting industries that are positively contributing to the economy. If entrepreneurs are wanting to start a limited liability company (LLC) and are wondering how to form an LLC in Texas, there are so many great online resources to aid potential new business owners on their exciting journey in one of the best business states.
Becoming a business owner in Texas can be a liberating experience, but not without its pitfalls. It requires careful planning and preparation, yet once the necessary steps have been followed, the results can be very rewarding.
The structure of a business determines everything; from how a business operates daily, to taxes and how much risk is involved. The choice of business structure provides the business owner with the right balance of benefits and legal protections.
Once the best business structure is selected, the establishment of the business is rather straightforward, especially with online information available on the best LLC formation service in Texas.
Get Your Business Started on the Right Foot
When starting a new business it is important to first determine which is the right business structure to suit the venture. In Texas, the different types of business structures are: Sole proprietorship, partnership and corporation. Each business structure has distinct benefits and drawbacks.
A sole proprietorship is the simplest form of business. It gives the operator complete control of the business and does not form a separate business entity. The business assets and liabilities are not separate from the personal assets and liabilities of the owner, resulting in them being personally liable for all the debts and obligations of the business.
Though it may be challenging to raise funding for this type of business, sole proprietorships can offer the option of a low-risk business. This is a good choice for entrepreneurs who are testing their business idea before establishing a more formal enterprise.
A partnership is a simple option for two or more people to own a business together. Within partnerships, there are: limited partnerships (LP) and limited liability partnerships (LLP). In a limited partnership, only one general partner has unlimited liability, while all other partners have limited liability and limited control over the company. Limited liability partnerships do indeed resemble limited partnerships, but limited liability is assigned to every owner in the business and therefore, partners won’t be responsible for the actions of other members. This option serves multiple owners well, and also those who wish to test their business concept first.
Limited Liability Company
An LLC (Limited Liability Company) has a business structure which protects the owner from personal liability. If the company faces bankruptcy or lawsuits, the owner’s assets cannot be attached. This means, in many ways, that an LLC enjoys the benefits of both the corporation and partnership business structures.
In this model, members of the company are classified as self-employed.This means that the owners must pay self-employment tax contributions towards Medicare and Social Security. Two key things to look out for with LLCs is that they can have limited life and when anyone joins or leaves an LLC, it may mean that the company will have to be dissolved and re-formed with new membership.
LLCs are a good choice however, for medium- or higher-risk businesses, and protect the personal assets of the members while also enjoying a lower tax rate than a corporation.
Once an entrepreneur has selected the best structure, forming a Texas LLC can be done by following five key steps:
Five Key Steps to Forming a Texas LLC
Choose a name for your LLC
Assign a registered agent
File Your LLC Certificate of Formation ($300 filing fee)
Create Your Texas LLC Operating Agreement
Get an EIN
Once an LLC is formed, some of the risks of starting a business can be the scarcity of capital or funding for the business venture, inadequate skills of the the management team and staff, and unsuccessful marketing strategies.
If the business owner has not put sufficient consideration into the right infrastructure or business model, then the business may be compromised from the start. This means, therefore, that business people should take the time to carefully consider their options while on the road to realizing their dreams.
According to a study, the covid-19 pandemic had caused massive dislocation among small businesses. The effects were felt just several weeks after its onset– more so prior to the government providing aid through the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The study concluded that 43% of businesses had temporarily closed– primarily due to covid-19 and lockdown restrictions.
However, the United States has also seen a boom in new businesses since the start of the covid-19 pandemic. While many companies were forced to retrench and downsize in order to keep their doors open, the country had also experienced a spike in new entrepreneurs who were now deciding to take matters into their own hands and become their own bosses.
Recovering from Post-Pandemic Job loss
Texas, Arizona, Idaho, and Utah have managed to recover from the pandemic depths, attributing this accomplishment to population growth as well as a shift by businesses and workers who are moving away from coastal urban areas. These states have benefited from the demographic shifts prior to and during the pandemic—having experienced an outsize in payroll growth in industries such as retail, technology, warehousing, and transportation. Many large companies have moved their operations to these states, and some of their workers have moved in as well– leaving the more densely populated and expensive urban areas.
A Startup Boom in Texas
A contributing factor to Texas regaining the jobs that were lost during the covid-19 pandemic is that is the number of new businesses that have started up in the state. Last year, Texas had the fourth-highest number of business startups in the U.S. The Lone Star State was able to reach an impressive high of more than 490000 new business startups that had been created in 2021. This is a big jump for the state that had seen around 385,559 in 2020. The latest 2021 figures represent the highest total that Texas has ever experienced; since it began tracking back in 2004. Impressively, Texas held 61% more business startups last year than it did prior to the pandemic.
For small businesses, it is vital that a solid foundation is laid out at the onset so that growth is supported by a concrete start. A Texas LLC allows small businesses to benefit from the flexibility that they would have if they took up a sole partnership or partnership business structure, but it also provides the legal protection that comes with filing to start a corporation. An LLC will also provide entrepreneurs with the unique benefit that comes with pass through taxation so that the profits that members receive do not get subject to double taxation.
To start an LLC in Texas, entrepreneurs will be required to file the Certificate of Formation via the Texas Secretary of State– with a filing fee of $300. Applications can be processed either online or by mail. The Certificate of Formation is the legal document that makes the LLC an official business entity in Texas. The entire formation process can be broken down into five necessary steps:
Step 1: Name the Texas LLC
Step 2: Choose a Registered Agent in Texas
Step 3: File the Texas Certificate of Formation
Step 4: Create an Operating Agreement
Step 5: Get an EIN
The covid-19 pandemic had forced a global paradigm shift; while larger businesses were scaling down, entrepreneurs took the chance to start up their own ventures. Starting a new business takes a great deal of determination, countless hours of hard work, and a decent amount of resilience, the feeling of accomplishment often is the motivation that allows entrepreneurs to keep the ball rolling.