REIA NYC Blog
Real Estate Investors Association NYC

What is the Best Structure for Your Business?

One of the first things you need to do when starting a new business is deciding how it will be set up. Your decision will affect your tax status, will determine who has ownership in the business, and will delineate your personal liability if the business becomes heavily indebted or closes down in the future. In terms of business structure, there are basically three main categories: a sole proprietorship, a partnership, and a corporation. Bel ..

What to Include in Your Business Plan

Whether you are trying to raise startup capital or you are in the process of expanding your business, writing a business plan should be your first move. The idea behind a business plan is pretty straight forward. It essentially is a written outline that evaluates and defines the major aspects of your business, including the proposed product or service, the targeted market, and the economic potential. Creating a business plan will be ..

How to Finance Your New Business Without a Loan

It takes money to make money ... Though some have debated the validity of this aphorism, when it comes to starting a new business, it is an unavoidable fact. Even the most simplest of business ideas will require some kind of monetary investment on your part. For example, you may need an upfront amount of cash that can be used to for equipment, supplies, and other business expenses. You may also need to provide for your personal living expens ..

Time Management (Part 2)

In the last segment we began our work on time management by stressing that time is our greatest resource. If you ask every business person for a self-assessment, almost all of them would reply: I need to manage my time better. This month we will become more specific by adding pointers that may help you conserve your most precious resource. Start Dealing With Priorities. Stephen Covey in his Seven Habits Series has indicated that our probl ..

Time Management (Part I)

There is no doubt that time is a business person’s most precious resource. In fact, time is everyone’s most precious resource. We never realize how precious time is until we run out of it. George Burns had 100 years, yet he never had time for his final performance. We all waste too much of this precious resource. Many years ago when we began teaching methods of improving time management skills, we introduced the concept of 143 ..

Hiring an Assistant and Synergizing (Part II)

In the last segment we discussed the need for an assistant. Now it is time to move to the areas of recruitment, delegation and synergy. How do I go about hiring an assistant? First we need to determine what the assistant is going to be doing. This should be determined by a close look at your priorities as well as a look in the mirror. For example, in the accomplishment of your job, what do you like to do and what don’t you like to  ..

Need Help? Consider An Assistant (Part I)

One of the most important rules of synergy marketing is to determine which tools are more effective than others. An assistant can certainly be considered a tool. You may have the best marketing plan in the world, but if you are spending your day stuffing envelopes and do not have the time to speak to customers as a result, you are unlikely to achieve your goals. How can you tell if you need an assistant? If too much of your time is spent ..