YHP http://yhponline.com Entrepreneurs In Depth | Be Inspired | Your Hidden Potential Wed, 19 Nov 2014 23:36:00 +0000 en-US hourly 1 Explore Tech City in style http://yhponline.com/2014/11/19/explore-tech-city-in-style/?utm_source=rss&utm_medium=rss&utm_campaign=explore-tech-city-in-style http://yhponline.com/2014/11/19/explore-tech-city-in-style/#comments Wed, 19 Nov 2014 23:36:00 +0000 http://yhponline.com/?p=37012 You may of heard of Tech City, a term used to describe the growing tech startup scene in east London mainly in Old Street and Shoreditch. Well that's where all the media attention is anyway. But Tech City is much … Continue reading

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Tech City Tours and Uber

You may of heard of Tech City, a term used to describe the growing tech startup scene in east London mainly in Old Street and Shoreditch. Well that's where all the media attention is anyway. But Tech City is much more than a roundabout and so Tech City Tours are teaming up with Uber this Friday to expand Tech City Tours beyond Old Street and Shoreditch.

This is a part of Tech City Tours plans to expand into more tech hubs in cities across the UK.

Perhaps you've just moved to London to work on your new startup, or maybe you've been working in the area for a while but have never engaged with the vibrant community that surrounds you. The aim of Tech City Tours is to help you find your bearings and set you on your way feeling empowered and motivated to make the most of the fastest-growing entrepreneurial area of London.

Learn about the recent history of the area, meet the key players involved, see how the government is supporting Tech City, where the best co-working spaces are, where to look for investment, which events should be in your diary, and more!

Oh and there are goody bags for all including Tech City swag and discounts.

If you're looking to meet the key players London tech startup scene and want to do in style all in one afternoon, then check out the schedule and get your tickets before they all run out!

https://www.eventbrite.com/e/tech-city-tours-on-the-road-with-uber-tickets-14412561359

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Startup of the Week: Jellynote http://yhponline.com/2014/11/19/startup-of-the-week-jellynote/?utm_source=rss&utm_medium=rss&utm_campaign=startup-of-the-week-jellynote http://yhponline.com/2014/11/19/startup-of-the-week-jellynote/#comments Wed, 19 Nov 2014 23:02:57 +0000 http://yhponline.com/?p=37020 Learning an instrument is hard... or was hard should I say?! Jellynote is hoping so. Our startup of the week, Jellynote is hoping to change the way we learn music. Jellynote provides a visual learning experience with guides that let you … Continue reading

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Jellynote logo

Learning an instrument is hard... or was hard should I say?!

Jellynote is hoping so. Our startup of the week, Jellynote is hoping to change the way we learn music. Jellynote provides a visual learning experience with guides that let you learn at your own pace and give you realtime feedback.

Just check out learning mode:

Jellynote have over 1.5 million users so it must be working. I reached out to Jellynote to see how this two year old startup gained so many users. 

"We did not spend one penny in marketing or advertising. We think that the key of the success is to build the more useful product. When a musician likes Jellynote he'll talk about it with all his friends. The amount of users on Jellynote mostly comes from word to mouth." when asked about what was key to growth."

1.5 million users and nothing spent on marketing tells you it must be one hell of a product!

In fact that was the biggest challenge for the startup.

"The biggest challenge was the technical part. Sheet music on Jellynote plays along with you, and corrects you as you’re playing. It also plays in sync with Youtube covers of the song, so that you can see another person playing the song you want to learn. We've solved the technical challenge by lot of work and sticking at it. We're still working hard to make it even better!"

Jellynote are now looking to work with schools and teachers & create events with artists like master class, interviews and acoustic sessions. So it looks like an exciting time for this french startup.

 You can check out there website: https://www.jellynote.com & app: http://bit.ly/11DsEwo and give it a go for yourself.

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A Foreigner in the States: How to Start a Business http://yhponline.com/2014/11/19/a-foreigner-in-the-states-how-to-start-a-business/?utm_source=rss&utm_medium=rss&utm_campaign=a-foreigner-in-the-states-how-to-start-a-business http://yhponline.com/2014/11/19/a-foreigner-in-the-states-how-to-start-a-business/#comments Wed, 19 Nov 2014 23:01:04 +0000 http://yhponline.com/?p=37025 After solving this problem with our own experience and work, we would like to share with future entrepreneurs who are in the same circumstances what we have learned. No matter if we are European, Latin American, Asian, etc. If we … Continue reading

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United States start a business

After solving this problem with our own experience and work, we would like to share with future entrepreneurs who are in the same circumstances what we have learned. No matter if we are European, Latin American, Asian, etc.

If we are developing a technological start-up with global services and we want to do business with several countries at the same time, the best option, without any doubt, will be to legally establish our company in the United States because of the level of efficiency when billing international customers, added to the possibility of having access to a capital investment (angel investment, seed or venture capital) in a simpler way.

Type of incorporation

The first step is to incorporate our company. There are, mainly, two options.

If our goal is to look for an investment, the best option is to incorporate ourselves as a LLC, which is a company commonly known as one of limited liability. It’s a viable and simple option that the majority of the start-ups choose if they are looking for an investment, for example in Silicon Valley, since investors prefer working with this organization format.

On the other hand, as we were looking for a solution for our global billing mainly, and not necessarily looking for investors, we decided to incorporate ourselves as a C Corp (commonly known as a public corporation in other places of the world.)

For this, we used the services of Walker Corporate Law (WCL) which specializes in start-ups only and which was recommended by other founders. However, this is not the only firm that can help you; there are many other excellent options.

At the level of costs, to be able to incorporate our start-up MT we had an investment totaling about $1500 dollars (including a lawyer, taxes, duties, etc.)

Place of incorporation

It’s very important to have into account the fact that each state of USA has different laws, which means that each state would be like a different country. This is the reason why it’s not the same to incorporate ourselves in California, Miami, or Houston. The best option we recommend is to do it in Delaware.

Even 99% of the start-ups that work in Silicon Valley are incorporated in Delaware since the labor laws are friendlier, the costs are lower, and the corporative regulations are very flexible.

Time of incorporation

The time to start operating with a company established in the United States is of 24 hours in Delaware (from one day to another one.)

Employer ID number (EIN - Tax Number)

After the previous step of incorporation is ready, we need the EIN number that every business in the United States must have. For this, we first filled in the SS-4 form and then we communicated with the IRS Department of Philadelphia at the number +1 800 829 4933 since they are the only ones who process this information for foreign people.

Physical address in the United States

In order to receive printed physical documentation it’s necessary to have a well-known physical address in the US. In our case, we used the address of a relative who lives in California.

However, there are also services such as Earth Class Mail which solve this problem for $14.95 dollars per month.

Bank account

Once the previous steps are done, it's time to open an account in the United States.

If we have the possibility of personally travelling there like it happened to us, it’s highly simple. With the documentation of the incorporation of the company we can go into any bank (from Bank of America to Chase, anywhere in the US) and ask for a checking account for your company.

In case you don't have that option, I recommend contacting the Silicon Valley Bank. This bank is totally focused on entrepreneurs on a global scale and together with your business plan and the documentation of your company, you can open an account without any inconvenient in 2 or 3 business days.

Methods of collection

In our case, we ended up using PayPal. After having analyzed other options such as Stripe, Braintree, Authorize.net, etc., we understood that PayPal has higher costs.

But the reality is that based on the context in which we work (at a global level but with a focus on Latin America), our clients feel more secure when entering their credit card information through PayPal than through any other means since here it’s the one most known and used.

I personally consider that there are several options to legally incorporate our start-up in the United States and work from there to the rest of the world as a main reference. The road previously mentioned is just one viable option. It’s essential to always work with and consult a lawyer to avoid mistakes.

Among the most important mistakes that our advisory lawyer highlighted were choosing wrongly the type of company, incorporating it in the wrong state, and lastly, the contract that we sign with our partners/employees. As we have previously seen, if we are looking for an investment, the best option is a LLC; if we are looking for billing, the best option is a C Corp, and always in the state of Delaware.

To conclude, I mention “the contract that we sign with our partners/co-founders/employees” because there's a system in the United States known as Vesting, which protects our company in case one of the founders decides to retire from the every-day activity and start a new path on their own. In this way, the founders and employees will get shares of the start-up only in relation to the time invested in it.

Furthermore, in case they want to sell these shares, there will be a preferential sale clause, by which the rest of the co-founders will be able to buy these shares for a lower price before a third party not related to the start-up buys them.

 

Author: Cristian Rennella, programmer analyst of the National University of Argentina. Co-founder of Cotizar Seguro for Mexico, Argentina, and Colombia. Currently, he is a Professor of Mathematical Analysis of postgraduate studies.

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5 Quick Ways to Grow Your Business http://yhponline.com/2014/11/17/5-quick-ways-to-grow-your-business/?utm_source=rss&utm_medium=rss&utm_campaign=5-quick-ways-to-grow-your-business http://yhponline.com/2014/11/17/5-quick-ways-to-grow-your-business/#comments Mon, 17 Nov 2014 15:56:08 +0000 http://yhponline.com/?p=37013 Most business owners will have the ambition to grow their business, but this is something that has traditionally been thought of as taking a great deal of time and effort. While it is true that growing a business does take … Continue reading

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5 quick ways

Most business owners will have the ambition to grow their business, but this is something that has traditionally been thought of as taking a great deal of time and effort. While it is true that growing a business does take a lot of hard work, there are some steps that you can take that will make this process somewhat quicker.

Experiment with Adwords

Google Adwords is one of the cheapest ways for you to run an advertising campaign, and as such it gives you a greater chance to experiment with different options than you would get with other types of advertising. There are resources online that can show you how to get started with Adwords, many will provide you with examples of the potential that it has for helping you to grow your business.

Concentrate on new clients

It is easy when running a business to get so caught up with dealing with existing customers that you do not give finding new clients the attention that you probably know you should. Your business will need new clients in order to grow and therefore you should try and allocate some time every day where your sole focus is contacting potential new clients.

Close your door when needed

If you have a small team, then you may have an open door policy where you can be contacted whenever one of your employees needs you. Being approachable is important for the morale of your team, but there are probably going to be occasions where you could really do without being disturbed. When these occasions arise, you need to make it clear that your open door policy is temporarily suspended, but that you will make any concerns that have come up during this time a priority once you become available again.

Make the best use of software

There will probably be many areas of your business where repetitive tasks take up a lot of time that could be spent more productively elsewhere. Software may be available that can automate some of these tasks, which will free up your valuable time and that of your employees. Many companies find that it is the HR department that has to deal with the majority of these tasks and that HR software can make a real difference to the efficiency of this department and the business as a whole.

Increase your online presence

Your business may already have a website, but there are other ways that you can get your business noticed online and this can help to increase sales. A blog that contains posts that are relevant to your business can help you to be found easier in search engines.

These steps can help you to grow your business, but they will require some work on your part. If you have the ambition and desire to expand your business and take it to the next level then you may find this advice very useful. As the owner of the business, you will know what steps need to be implemented first. Once you have identified the work that needs to be done then there is very little else to stop you.

 

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Top 15 Tips for Young Entrepreneurs http://yhponline.com/2014/10/25/top-15-tips-for-young-entrepreneurs/?utm_source=rss&utm_medium=rss&utm_campaign=top-15-tips-for-young-entrepreneurs http://yhponline.com/2014/10/25/top-15-tips-for-young-entrepreneurs/#comments Sat, 25 Oct 2014 15:15:02 +0000 http://yhponline.com/?p=37000 Gone are the days when your education and career choices were limited to either following in the footsteps of your parents, going to university or leaving school to learn a trade. Now, young people are choosing to make their own … Continue reading

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Gone are the days when your education and career choices were limited to either following in the footsteps of your parents, going to university or leaving school to learn a trade. Now, young people are choosing to make their own paths in life and utilise their entrepreneurial skills. If taking control of your own destiny, starting your own business and inventing your own products are ideas that appeal to you, then you could be a perfect entrepreneur. Here are 15 top tips for young entrepreneurs getting started in business.

Top 15 Tips for Young Entrepreneurs

Accept failure

Not all of your ideas will be successful. However, you should not give up just because one venture has failed. Instead, use it as a learning experience to avoid similar mistakes next time.

Use online resources

When you use the Internet you will find thousands of resources to use for inspiration and motivation. Most of these are free, so log in and check them out. If you are planning to have a website for your business and are considering using website hosting services, then you can find hosting here.

Find a mentor

They will be able to give you the benefit of their knowledge and experience. You might find this helpful as they can guide you on things that you should and should not do.

Use social media

This is a great way to connect with people and to research your potential target market. When you start up your business, use it as a marketing tool.

Take a risk

When you are older, it is likely that you will be tied down with commitments such as marriage, children and a mortgage. While you are still young and do not yet have these commitments, it is the perfect time to take a business risk.

Use school resources

If you are still at school or college, make the most of the resources provided there. It is a great time for you to build your information in preparation for launching a business. The school library can be fantastic resource to use.

Network

Let people know who you are and what they are doing. Consider everyone you meet to be a contact and a potentially useful resource for you and your business. Remember, networking is about listening as well as talking. You might just pick up some important and useful information.

Do something you love

If you are passionate about your venture, it is more likely that you will see the project through to the end and be successful. If you are not interested in what you are doing, how can you expect anyone else to be?

Manage your time

It can be stressful and difficult to run a business, especially if you are still at school and trying to juggle your education with starting your business. Plan what you will do, and when, carefully. Make sure to include some free time for yourself in your plans.

Learn and follow the rules of business

Do some research about the things you will need to do, such as registering your business and paying tax. Being prepared in this way will help you to avoid getting in trouble at a later date.

Set yourself goals

Only you know what you expect to achieve in life. One way of achieving your dreams is to set yourself both short-term and long-term goals to work towards. By doing so, you have a target to aim for and this will motivate you.

Be radical

Young people often think differently to adults and this can be a good thing when starting up a business. Your ideas are likely to be fresh and original. However, it is a good idea to check just how original your ideas are first as you don't want to replicate something that is already on the market.

Take your time

Although you might be really enthusiastic and want to get your business up and running as fast as possible, it is important that you take some time out every now and again. This will refresh your energy and help you to focus and be more constructive.

Know what you want

You need to know what your personal aspirations are, what you expect to achieve from your business, whether you plan to study or work while running your business and what your long-term aims are.

Just because you are a young person does not mean that you cannot achieve business success. Many famous entrepreneurs started out their first businesses when they were young and have achieved great things in their lives. Using some of these tips will set you on a path to success and help you to achieve your dreams.

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