While doing research on small business web design, I came across an article that simply explains an (LLC) Limited Liability Company. These may help answer some questions on how to set up your business...
What is a Limited Liability Company?
A limited liability company (LLC):
is a type of business ownership combining several features of corporation and partnership structures
is not a corporation or a partnership
may be called a limited liability corporation, the correct terminology is limited liability company
owners are called members not partners or shareholders
number of members are unlimited and may be individuals, corporations, or other LLC's
Advantages of Limited Liability Company
Limited Liability: Owners of a LLC have the liability protection of a corporation.
A LLC exists as a separate entity much like a corporation. Members cannot be held personally liable for debts unless they have signed a personal guarantee.
Flexible Profit Distribution: Limited liability companies can select varying forms of distribution of profits. Unlike a common partnership where the split is 50-50, LLC have much more flexibility.
No Minutes: Corporations are required to keep formal minutes, have meetings, and record resolutions. The LLC business structure requires no corporate minutes or resolutions and is easier to operate.
Flow Through Taxation: All your business losses, profits, and expenses flow through the company to the individual members. You avoid the double taxation of paying corporate tax and individual tax. Generally, this will be a tax advantage, but circumstances can favor a corporate tax structure.
Disadvantages of Limited Liability Company
Limited Life: Corporations can live forever, whereas a LLC is dissolved when a member dies or undergoes bankruptcy.
Going Public: Business owners with plans to take their company public, or issuing employee shares in the future, may be best served by choosing a corporate business structure.
Added Complexity: Running a sole-proprietorship or partnership will have less paperwork and complexity. A LLC may federally be classified as a sole-proprietorship, partnership, or corporation for tax purposes. Classification can be selected or a default may apply.
Setting-up a Limited Liability Company
All 50 states now allow the formation of LLC`s. Forming your own LLC may not be as simple as a sole-proprietorship, however, the process is much less than a corporation. There are two main actions:
1. Articles of Organization: If you plan to set up a limited liability company, you will have to file articles of organization with the Secretary of State and pay the required fees. Articles may be prepared by a lawyer or filed yourself.
2. Operating Agreement: Although it is not required in many states to draft an operating agreement, it is advisable. Much like corporate by-laws or partnership agreements, the operating agreement can help define your company profit sharing, ownership, responsibilities, and ownership changes.
Each state has different rules governing the formation of a limited liability company. For instance, in North Dakota, a foreign LLC is not allowed for banking or farming. Some states will want a publication notice with the local newspaper that a company has been formed. Check with your local state office for further details.
This article should provide you with the basics of limited liability companies and help guide your decision of company business formation. Each state's laws differ as well as each company situation. It is advisable to seek tax and legal counsel to determine the best choice for your individual circumstance.
Retention is almost the opposite of my conversion rate web design that I focus on daily. But, retention is very important and I revisit it at least once a month. Overall it improves the lifetime value of customers and should be an important KPI (Key Performance Indicator). This is shown in the graph below as Loyal customers spend 19% more money and keep your business going longer.
A lot of the point were made in a nice Web Ex seminar that I recently found via the Jim Novo website, here is the archived presentation: Improve Customer Retention: Mastering the Art and Science of Segmentation. This seminar pointed out a lot of tips for Retention Web Design, by helping define the "Potential Value" areas to focus. You can then use analytics to determine what areas of a site need a new user interface, a streamlined navigation, improved content or should you be adding discounts or promotions.
Retention web design is very similar to sales funnel design but there is a larger amount of latency as retention improvements take a longer time to calculate of weeks or months reporting, while sales funnel reporting is daily. This is seen a lot with in content (articles, tools, boards). Here you should receive a lot of feedback from customers and then doing a reactive approach to improve or maintain reasons for returning visitors.
The last part of how Retention Web Design is determined is with Customer Service. This is defined by the companies resources. For example are you pushing clients to a system like "live agent", are you using strictly email support or do you have the call center resources to post your phone number large enough?
This is always and ongoing learning process for all of us. One of the best resources that I have discover is the Jim Novo website. I recently was recommended this website while listening to Wizards of the Web on Webmaster Radio Mondays at 4pm.
I run a children's online educational service - Time4Learning - which provides an online curriculum for kids from preschool to fifth grade. Its important to us that children learn and like learning from our services. Our number one tool in improving the length of time that our students stay with us is improving the information to our members about the education and progress that their children are receiving.
Why are web designers creating landing pages web designs that do not convert? The thing that has upsets me the most is that advertising agencies are charging a lot of money and not getting the ROI. They are flashy and too focused on branding. But don't get confused, branding campaigns can definitely be combined with a great landing page web design. The focus still remains direct response marketing and nothing is more important than the sale. Its simple, stop wasting your money...
Recently I have focus a lot of sales funnel freelance work on designing landing pages. These may seem boring to the average designer, but they are very important to a successful web business. Great landing page work can really improve your business. A lot of times it can take your site from the 1990's and into 2005. Below are three new examples of recent work for a new client. Stay tuned as I post a lot more successful projects...
If you are starting a web business, don't hesitate to check out NetSuite Small Business Software Application. This complete solution combines eCommerce, CRM and Accounting, and extensive reporting into a great solution. I had the experience to design several web sites with the NetSuite application. Originally I found that the application limited my design and a little frustrating. Then after more experience you realize the benefits. And I even a learned of great design/CSS hacks to make my clients happy. The sales people at NetSuite were so impressed with my first NetSuite client (EnergyFirst) that they now recommend my design services for NetSuite users looking to customize their design.
The application really does lend to my sales funnel skills. For example I can drill down the amount of revenue made from he customer, search engine, product or even the individual referring keyword. The reporting and customer management is very extensive in a customizable dashboard. You can see a screen shot below.
When internet users (surfers) click on web banner ads and PPC they arrive at a conversion funnel. It is also called a sales funnel, marketing pipeline, or Checkout Process.
This could be made up of landing pages, shopping carts or lead generation pages.
The conversion rate optimization process helps you understand your web site visitors and personalize their shopping experience.
Conversion funnels are essential to maximize your ROI on online advertising (PPC), affiliate programs or SEO.
Alex Harris - Landing Page Designer, NetSuite Web Designer, and NetSuite SEO Expert.
Conversion Funnel A/B Testing and Design includes optimizing conversion rates, ppc landing page designs and improving banner click rates to maximize the ROI of online subscription services and eCommerce.
The knowledge you receive from conversion funnels and A/B testing will help you learn more about your visitors and increase the value of your products. Conversion Funnel testing involves direct marketing, creative services and web development.