What Come After Business Incorporation
After you have completed the business incorporation process, don't expect that your work is done. Actually, the real work is just starting. Being a corporation means that you are not the center of the business anymore. You have your partners, stockholders, and shareholders to think about. In addition, you have to continue providing service to your clients without a dip in quality. But your first order of business after the business incorporation process is producing your corporate kit.
Corporate kits are essential for a start-up incorporated business. These kits contain every legal papers documenting the entire business incorporation event. These will keep the necessary records that will facilitate the distribution of stocks. The kit may also be used to keep track of the shareholders and the value of their assets. However, a standard corporate kit only include six items: your corporate seal, certificates of stock, ledger of stock transfer, by-laws and sample minutes, minute binder, and other miscellaneous forms.
Business incorporation requires that every transaction of a stockholder or the management must be approved by the entire corporation. The corporate seal affixed on the document guarantees that the deal is legally approved. The seal is in the form of a portable press where documents are affixed or imprinted with the corporation seal. The seal imprint shows the corporation name, the approval date of the incorporation application, and the state where the business is incorporated. Years back, all states required corporate seals. Today, only a few keeps the corporate seal requirements. But even so, corporate seal imprints lend business documents power or authority.
Of course, in incorporating your business, you are accepting the multiple system of ownership that comes with it. The business incorporation process requires you to divide the ownership of the business among yourself and your stockholders. Certificates of stocks ownership are issued to every stockholders with information about their part in the corporation. These certificates indicate the value of a stockholder's share in the business.
The value of a stockholder's stock determines his power within the corporation. Why? Because corporations can crash if major stockholders pull out their shares or investments. This is why it is important to keep track of the shares of each stockholder. Deals between the stockholders can also affect the corporation and must be closely monitored. These changes and deals are recorded in a ledger of stock transfer. For example, a major stockholder buys the shares of a minor partner to increase his value in the corporation. The details of this deal, like the issuance date, certificate numbers, and the stockholders involved in the trade, are all recorded for reference. These will come in handy if a need for business incorporation renewal should arise.
In accordance with business incorporation policies, the by-laws will dictate all the regulations concerning the corporation. It will cover policies from the organizational structure to the most trivial rule. Minutes and results of meetings and conferences are recorded in the minutes binder to establish the validity of each corporation decision. Business incorporation is all about working and managing a business with other people. However, as with all situations that deal with investments and money, lines must be kept straight.
For more valuable information on business incorporation and corporate kit, please visit http://www.incorporation-service.net
MGE Management Experts: Good Dental Practice Management Improves Bottom Line
Although almost 90 percent of dentists own their own practices, they often have only basic knowledge about everything from staffing their offices to marketing their services. "As a result, dental practice management is often inefficient and ineffective, which negatively affects dentists' professional satisfaction and profitability," says Gregory Winteregg, DDS, Vice President of MGE: Management Experts, Inc. (www.mgeonline.com) and an expert in dental practice management consulting. "Although dentists want to focus on their patients' dental care, they are distressed that much of their time is spent dealing with insurance companies and business administration."
Further, Dr. Winteregg says that, while dental schools do an excellent job teaching dental students about state of the art procedures and equipment, they fall short when it comes to teaching business and communication skills. As a result, dentists often become dependent upon a business consultant to guide them in practice management. "MGE: Management Experts takes a different approach," says Dr. Winteregg. "By training dentists in business technology, communications, and human resources, they are empowered to efficiently run their practices, which positively influences their bottom lines."
MGE trains dentists, their office managers and staff on subjects ranging from marketing, case acceptance, organization, management, financial planning, and leadership. Collectively, MGE's entire training program is called the MGE Power Program. In a statistical study conducted at the end of 2005, MGE found that the average client starting the Power Program had average monthly collections of $37,000. Within three months, clients increased monthly collections by an average of 31 percent, while after two years, the average monthly collections increased by 132 percent. "After five years, the average MGE Power Program client is collecting $123,500 per month," says Dr. Winteregg. "That's an increase of 232 percent!"
Dr. Winteregg spent eleven years in private practice as a general dentist before turning to MGE to help him streamline and build his practice. As an MGE client, he found the principles and tools he needed to have his practice become one of the top four percent of practices nationwide. "I discovered that the keys to growing my practice were learning how to effectively market for fee-for-service new patients so as to stay out of HMOs and PPOs, to hire the right people to staff my office, and to learn how to communicate with my patients to increase comprehensive treatment acceptance," says Dr. Winteregg.
Within two years, Dr. Winteregg decided to dedicate his career to helping other dentists thrive, and joined MGE as a partner with Luis Col?n, a leading national executive trainer and speaker.
According to the U.S. Bureau of Labor Statistics, employment growth in the field of dentistry will not outpace the average growth of other professions or industries in the coming decade. "Because dentistry is not a high-growth profession, dentists must be proactive in building and streamlining their practices," says Dr. Winteregg. "In today's environment, the cornerstone is to attract fee-for-service patients and those with traditional insurance plans, and to avoid the reduced fees and time-consuming overhead that comes with being a member of an HMO or PPO."
MGE: Management Experts, Inc. guides dentists through the maze of business administration hurdles, human resources challenges, and communication barriers that often prevent dentists from feeling professionally fulfilled and reaping financial rewards. Dr. Winteregg concludes, "We're committed to providing professionals with the tools to develop sound dental practice management. Time and again, we've found that when dentists have these tools in place, they not only feel enormous professional fulfillment, but the monetary rewards flow effortlessly."
Setting Up Your Business Website...
Setting up a business website can seem like a daunting task. By utilizing a few common sense tips you can simplify the process and make the process much more efficient and profitable.
Content, Content, Content...
Having high quality, relevant content that is informative to your prospective customers is the number one rule of web design. Your website's goal is to generate interest and provide a product or service to those who are searching for assistance. The best way to do this is to have fresh, useful content on your site. Write short comments and articles about subjects your customers would be interested in. Take this article for example. My target market is "Small Business Owners with websites" so this article provides tips and hints about website design. When I posted this article on the internet, it became listed in the search engines and directories, and generated website traffic from my desired target market, "YOU".
Hire a Professional Web Designer.
People specialize in certain industries. You don't try to fix your own broken arm; you hire a doctor who specializes in that treatment. Web design really can be a tricky business and is probably something that you shouldn't try to do yourself, unless you have a lot of time or experience in the industry. You can use the Internet to find specialists who will design your site. Since you can search for these experts globally, you will find it is inexpensive and easy to hire one of them to do the job. There are a host of well qualified experts in countries such as India or Taiwan, who are willing to work for a much lower fee than what you would pay your local web designer. You can receive a design proposal online by checking out websites that act as an agent for programmers and webmasters such as: elance.com or rentacacoder.com
Practice Search Engine Optimization.
You are competing with millions of other websites in cyberspace, each one vying to reach the top of the listings in the major search engines. Search Engine Optimization techniques are a quick and inexpensive way to propel your website to the top of these listings for your desired search terms. Using basic search engine techniques such as sprinkling phrases you think your customers will be searching for throughout your website is the first step. You should also use those phrases, also known as keywords, in the titles of your web pages such as: www.mysite.com/business-website. There is a whole industry specializing in the art of search engine optimization. If you desire professional assistance, just type the term "Search Engine Optimization" into your favorite search engine and you'll find many resources to assist you.
Provide Prominent Contact Information.
A new customer is taking a leap of faith when they choose to purchase from you, an unknown entity online. Entering one's credit card numbers into an order form over the internet is usually the biggest obstacle you will have to overcome. In order to gain the trust of your customer you must be forthcoming and available with your contact information. At the very least, you will need to list your email address on your site, as a clickable link. You must reply to their emails in a timely manner (less than 24 hours), with a personal email, not a form letter. You should also list your physical address prominently on the front page of your website. If your physical address is your home address and you are uncomfortable listing it online, then rent a Post Office box for your business and use that address. The very best way to instill confidence in your customers is to provide a telephone number on your website. Make sure that if you are not available you have a voice mail system for messages and make sure that you return these telephone calls in a timely manner.
Update Your Site Regularly.
Your customers and the Search Engines love fresh information. By updating your information on a regular basis (daily, weekly, etc.) you'll give your customers a reason to stop back by your site to see what's new! Frequent updating will also cause the Internet Search Engines to visit your site regularly to check for your new content and this will also increase your online presence.
Set Up a Weblog "BLOG".
One of the best ways to post that fresh content on your website is to keep a weblog. A "BLOG" is a series of entries posted in sequence starting with the most recent. You can quickly log into your BLOG and post fresh new content, (a few paragraphs or sentences), and have it updated in a matter of minutes. Since BLOG's are text based you don't need to have any programming skills, just type the information in and hit update. Make sure that you keep the information that you post relevant only to your industry and business. If you want to let people know that your vacation was great of you're a new grandfather, start a personal blog or create a new website for that information.
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