11 Sep Frequently Asked Questions – Part 2
Thank you for reading our Blog! If you read last week’s blog, you will already know that our topic for this blog is the second part of our frequently asked questions. Over the course of 25 years, we have received so many great questions that we could likely do many more FAQ blog posts. We hope to highlight some of the more frequent ones and as always, we welcome your questions, feedback, or suggestions in our comments section below.
What is the first step that I should take to make my business “legal”?
That depends on whether you plan to operate as a Sole Proprietor or a Corporation. As a sole proprietor you will register a trade name. If you will be operating as a corporation you will register your corporation.
What is the difference between a Corporation and a Sole Proprietorship?
A sole proprietorship is often flexible, informal, and affordable. All profits are taxed personally on the individual (the business owner/operator) and they also assume all liability. A corporation operates as an independent entity. This entity assumes all liability and can continue on upon transfer of ownership or death of the owner/operator.
What are the credentials of your instructors? How many do you have?
We have almost 30 instructors at ACTI consisting of a wide range of experts in their chosen fields. Some work for organizations that provide services specifically for entrepreneurs, others are long time entrepreneurs themselves who have been “in the trenches” for many years, and know firsthand what works and what doesn’t when it comes to being a successful business owner. We have instructors who are marketing masters, sales and bookkeeping experts, social media specialists, mindset and health gurus and everything in between! Our comprehensive program covers all aspects of owning a business and every instructor brings value and great knowledge no matter what kind of product or service you will be offering. Most of our instructors will provide their contact information so that down the road if you require their expertise or services you can reach out to them. This is one of the great things that sets ACTI apart from other training programs!
What happens after the classroom phase?
After the 10-week classroom phase you are armed with the right mindset and enough knowledge to be a business owner! You will offer your product or service and with the skills developed while at ACTI and the expertise you already posessed, be ready to strive for success and take on any challenges that come your way. Once a week you will meet with your chosen mentor in a group setting. You will discuss progress, successes and challenges you faced while receiving coaching and support from your mentor and group members. Here is an opportunity for personal growth, accountability, collaboration, and relationship building which our graduates have found to be invaluable!
What if my business is not as successful as I hoped?
A wrongful assumption that new business owners make is that they can dive right out into the market and sales will start rolling in. This is often not the case. There is a lot to consider as a business owner when it comes to gaining the traction one hopes for. Such things as where to focus marketing effeorts, having a well-built website, strong social media presence, effective system set up for tracking and responding to contacts and targeting the right market are just a few considerations. You will learn about all of this in the Self-Employment program. You will also learn how to use this information to track, evaluate and plan for your business. Success often does not happen instantly but requires well planning and an ability to adapt as necessary to achieve goals.
This wraps up our Frequently Asked Questions blogs. If there are any questions you wish to have answered in future blogs, please let us know and if there are any questions you would like answered privately please use our contact form on the website. We are always happy to hear from you!
We are thrilled to announce that we will have guest bloggers coming up in the near future! These valued guests will consist of some of our graduates and instructors. Be sure to check back regularly for our new, awesome blogs!