How can we convert from a community organization to a business startup?
I have 300+ members in ITSA (IT Sales Academy), which was established in 2012. We're looking to convert our business into an IT sales company- what are the first steps that a company needs to take to make that type of fundamental transition?
https://www.facebook.com/groups/itsalesacademy/ and https://www.linkedin.com/groups/IT-Sales-Academy-4761220?home=&gid=4761220&trk=my_groups-tile-grp
Bari, Great answers from others here. No one said how you (or people who care about you will fund it.
We can help you establish an investment platform on your site that is fully compliant with US law. This would enable you to crowdfund your own or client ventures to bring in revenue and increase your attachment to the customers you seek and serve.
It is a difficult task to convert a community group into a money making organisation but not impossible. The motivation of the members to be included into the diversity of ideas will be your task...and making money off it another task...You can get in touch with me for more details. We are community Marketeers...:)
Are you a traditional tax paying company, LLC, Corporation or S-Corporation? Basically All you need to do is decide how your organization wishes to do business with the IRS, State and local revenue offices. If you are already registered as, say a Sole Proprietorship, call the national IRS hot line. They will explain your options. There are so many requirements that some of your means or characteristics in running your company as it is, may need to change, be added to or even cut out all together. Be fore you make a final decision though talk to a Business Attorney and a CPA. Remember, if your original business plan was not set up to en-corporate this kind of change, you will need one that does. Start with the IRS and explain your problems they are very good at directing your pathway.
May I suggest that you read the Lean Startup before you do anything else. Once you have read that book, I suggest that you take the Udacity program. It's free.
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Take an assessment of your current members background to determine what are the strengths and talents. You probably already know who are the natural leaders and who are the ones who like to work independent.
You will definitely need to formulate a business plan to determine some basic things such as your vision, purpose and who your customers are.
Don't hesitate to bring in outside help to to create your business plan. A new set of eyes will be a big help in creating the most effective plan for your business start-up. Part of that plan should include an organization chart along with reporting relationships, sales targets, timelines as well as an operating budget.
Too much to list here but definitely get started with your business plan.
Hello Bari, I would first start with getting the proper business licenses, DBA, LLC or Sole Prop., and will my help we can get your business taking credit card payments. If you go to any other online processor itll be about 2.9% plus 30 cents. Our cost is only 2.25% online.
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1. Create a mission statement
2. Establish short and long-term goals
3. Designate leaders for the various departments
4. Decide what you want to be Sub-S, Corp, Sole P, etc...........
5. Meet with a good accountant to establish your accounting architecture.
I am a consultant with an IT company in the US and am going to Dubai, UAE for the Trade show in September 2014 to exhibit the company's IT products and services. You should also see if you can join the show or hire a company to market your product and services. I attend the Dubai shows frequently and can forward you some information. Let me know where I can send you the information.
Was this part of the original business plan? If not then you will be needing a new one and integral to this will be your sales and marketing plan with underlying operational 30/60/90/180 days plans to ensure that you execute on time and within budget. Your other main consideration is that you are about to embark on a major paradigm shift needing a different mind set and personnel and you need to be ready with both when you flick that switch