CATCHJSBUFORD

Not So Random Nerd Thoughts. Things My Entrepreneurial Spirit Desires to See

Posted by JuJuan Buford @JSBUFORD

 

Ok. Time the expunge my rabbit, nerd thoughts. Things my entrepreneurial spirit desires to see...

 

#1. It would be incredible to see cannabis dispensaries that look like a Microsoft or Apple stores. The market has shifted and the entrepreneurs in the industry have not. Professionals and older people want to feel comfortable, safe, responsible, and sophisticated about their cannabis consumption.  The industry needs to grow and level up. It's not for the grimy any more.

 

#2. African Americans will no longer be a significant (influence and power) voting bloc very soon. Instead the African Community will become the 3rd or 4th largest ethnic group in the United States in the near future. And it's not if significant ground was made up socio-economically as the 2nd largest ethnic group for centuries.  

 

Add to the aforementioned circumstances, it is projected that the African Diaspora in the United States will hit rock bottom in terms of network during our lifetimes. Any thinking person knows what that means. No agency. 

 

It's time to hit the resent button and start looking for fertile ground in Africa. I'd like to see and participate in more podcasts, interviews, documentaries, and initiatives that focus on how become investors, contributors, and positive actors in the continent. 

 

#3. I want to see think tanks and conferences that put entrepreneurs in the room together to solve access to healthcare, healthier food, transportation, and education regarding how to wield economic influence in politics in the city of Detroit. 

 

#4. I want to see affordable, accessible spaces 24/7 for content creation.

 

#5. I want to see more initiatives that provide capital for micro-business owners to grow into employers (capital for the acquisition of and on-boarding of talent). It is the BIGGEST stumbling block for small business owners.

 

#6. I want to see more initiatives teaching the skilled trades to African American men specifically.

 

 

Until the next time my mind is inundated again.

 

 

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Do you have additional questions? Call 888.549.9689 x.101 or I invite you to visit my online calendar and schedule a virtual meet-up. And if you found this article and any of our content to be awesome, and you're feeling tipsy? Click this link 👉 Buy me a coffee! 

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#catchjsbuford #entrepreneurshipisempowerment #nextoppsocial #smallbizarchitecture #businessdevelopment #entrepreneurship #jsbbusinesssolutionsgroup #smallbizarchitect #jsbbusinesssolutionsgroup #businesssolutions

 

JuJuan Buford, Managing Partner

888.549.9689 / [email protected]

Website - https://thebufordco.com/

Two Very Important Business Questions to Start the Day for the Rest of Your Life.

What are the three tasks I will achieve to make Today a Masterpiece?

Who are the top 5 people I need to speak with to make Today a Masterpiece?

Most people have good work habits. But it's the poor thinking habits, or worse the lack there of that causes the most suffering.

Not everyone is deserved of the destiny you're building towards. Not everyone is committed = Willing to follow through on the thing they've committed to verbally, after the excitement and convenience of the moment has evaporated.

The scrutiny, accountability, and expectations become greater. The air becomes thinner, and the climb breaks them.

I woke up this morning on 10, DIEZ, TEN this morning. I keep thinking about this upcoming recession and re-alignment that is occurring. So motivated to scale responsibly. So much opportunity to really scale impact and change people's lives. I want to build companies that build people.

How Do You Know If You Have Good (Or Bad) Business Credit?

Posted by JuJuan Buford @JSBUFORD

 

There are several relevant business credit bureaus that small business owners should be aware of. These bureaus collect and maintain information on the creditworthiness and payment history of businesses. Here are some of the key business credit bureaus:

 

1. Dun & Bradstreet (D&B): Dun & Bradstreet is one of the most well-known and widely used business credit bureaus. They provide credit scores and ratings, business credit reports, and other credit-related services. D&B assigns a unique identification number called a D-U-N-S Number to businesses, which is often used by lenders and vendors to assess creditworthiness.

 

2. Experian Business: Experian is a major credit reporting agency that also offers credit services for businesses. Experian Business provides credit reports, credit scores, and monitoring services specifically for businesses. They gather data from various sources, including trade vendors, public records, and financial institutions, to evaluate a business's creditworthiness.

 

3. Equifax Business: Equifax is another prominent credit reporting agency that offers business credit services. Equifax Business provides credit reports, credit scores, and risk assessment tools for businesses. They compile information from various sources, such as public records, financial institutions, and trade references, to create comprehensive business credit reports.

 

4. CreditSafe: CreditSafe is a global business credit reporting agency that provides credit information and risk management solutions for businesses. They offer credit reports, credit scores, and monitoring services to assess the creditworthiness and financial stability of companies. CreditSafe operates in multiple countries and can provide international credit information as well.

 

5. Experian Commercial Credit Score: Experian Commercial Credit Score is a scoring model specifically designed to assess the credit risk of small businesses. It uses a variety of factors, including payment history, industry risk, public records, and company size, to generate a credit score that reflects a business's creditworthiness.

 

6. FICO SBSS Score: FICO Small Business Scoring Service (SBSS) Score is a credit scoring model developed by Fair Isaac Corporation (FICO) specifically for small businesses. It incorporates both personal and business credit data, along with other factors such as business financials and industry risk, to assess the creditworthiness of small businesses.

 

It's important to note that each credit bureau may have its own proprietary scoring models, data sources, and reporting formats. Small business owners should regularly monitor their business credit reports from these bureaus to ensure accuracy and identify any potential issues. Building and maintaining a positive credit history with these bureaus can help small businesses establish credibility, access financing, and negotiate favorable terms with vendors and suppliers.

#businesstips #businessstrategy #growyourbusiness #scaleyourbusiness #leadershipmatters #leadership #accountability #teamperformance #performance #skilledtrade

#businesscredit

________________________________

Do you have additional questions? Call 888.549.9689 x.101 or I invite you to visit my online calendar and schedule a virtual meet-up. And if you found this article and any of our content to be awesome, and you're feeling tipsy? Click this link 👉 Buy me a coffee! 

Join our email list to enjoy a more comprehensive, insightful experience 👉 JSB Business Solutions Email List

#catchjsbuford #entrepreneurshipisempowerment #nextoppsocial #smallbizarchitecture #businessdevelopment #entrepreneurship #jsbbusinesssolutionsgroup #smallbizarchitect #jsbbusinesssolutionsgroup #businesssolutions

 

JuJuan Buford, Managing Partner

888.549.9689 / [email protected]

Website - https://thebufordco.com/

 

Everybody wants the accouterments of success. They want the applause. The ceremonies. Speaking engagements. The bag. But........

What about the dirt?

#businesstips #entrepreneur #entrepreneurshipisempowerment #catchjsbuford #smallbizarchitect #nextoppsocial #entrepreneurship #teamnewhorizons #thedirt

How do you become unstuck? Or stop feeling like you're losing? If we're being honest as entrepreneurs we've all been there.

I personally began to experience the doldrums a lot less when I accepted that things generally take longer than I want them to. And it's going to be harder than I anticipate...most of the time.

It's the price of achieving at an elite level.

#businesstips #smallbizarchitect #entrepreneurshipisempowerment #entrepreneurship #nextoppsocial #catchjsbuford

Why Are S Corps Becoming More Popular?

Posted by JuJuan Buford @JSBUFORD

 

Disclaimer: This content has been made available for informational and educational purposes only and is not meant to be a substitute for legal, accounting, or other professional advice. If you have specific questions about any legal matter, you should consult with an attorney or other professional services provider.  

 

Investing in an S Corporation (S Corp) can offer certain advantages over a Limited Liability Company (LLC) for individuals looking to work with investors. Here are some potential advantages of investing in an S Corp:

1. Attracting Investors: S Corps may be more attractive to certain investors, such as venture capitalists or angel investors, as they are a more familiar and established business structure. Investors may perceive S Corps as having a higher level of credibility and transparency compared to LLCs, which can make it easier to secure investment funding.
2. Ease of Capital Raising: S Corps have the ability to issue different classes of stock, such as common and preferred shares, which can facilitate capital raising. This flexibility allows you to structure equity ownership in a way that aligns with the preferences and needs of potential investors. Additionally, S Corps can have an unlimited number of shareholders, which can accommodate a larger investor base.
3. Investor Protection: S Corps offer investors certain protections and rights. Shareholders of S Corps typically have limited liability for the company's debts and obligations, similar to the limited liability protection provided by LLCs. This can be an appealing feature for investors, as it helps safeguard their personal assets from the company's liabilities/
4. Pass-Through Taxation: Like LLCs, S Corps have pass-through taxation, meaning the company's profits and losses pass through to the shareholders' individual tax returns. This can be advantageous for investors because they can potentially offset their share of the company's losses against other income on their personal tax returns, reducing their overall tax liability.
5. Potential Tax Savings: S Corps may offer certain tax-saving opportunities that are not available in LLCs. For example, S Corp shareholders who are actively involved in the business can potentially receive distributions that are not subject to self-employment taxes. Instead, they may only pay Social Security and Medicare taxes on their reasonable salary, potentially resulting in tax savings compared to the self-employment tax obligations of LLC members.
6. Exit Strategy Options: S Corps provide more flexibility when it comes to exit strategies, such as selling the business or going public. The ability to issue stock and the familiarity of S Corps in the market can make it easier to attract buyers or engage in mergers and acquisitions.

It's important to note that the advantages of investing in an S Corp over an LLC may vary depending on specific circumstances, investor preferences, and the applicable laws and regulations in your jurisdiction. It's always recommended to consult with legal, tax, and financial professionals who can provide guidance tailored to your individual situation.

 

#businesstips #businessstrategy #growyourbusiness #scaleyourbusiness #leadershipmatters #leadership #accountability #teamperformance #performance #skilledtrade

________________________________

Do you have additional questions? Call 888.549.9689 x.101 or I invite you to visit my online calendar and schedule a virtual meet-up. And if you found this article and any of our content to be awesome, and you're feeling tipsy? Click this link 👉 Buy me a coffee! 

Join our email list to enjoy a more comprehensive, insightful experience 👉 JSB Business Solutions Email List

#catchjsbuford #entrepreneurshipisempowerment #nextoppsocial #smallbizarchitecture #businessdevelopment #entrepreneurship #jsbbusinesssolutionsgroup #smallbizarchitect #jsbbusinesssolutionsgroup #businesssolutions

 

JuJuan Buford, Managing Partner

888.549.9689 / [email protected]

Website - https://thebufordco.com/

Are you concerned about whether your job or occupation will exist 5 years or a year from now?

Are you concerned about whether your business will be viable 10 seconds from now?

You should be.

The digital /artificial revolution is going to change our economy much more rapidly than any of the previous economic revolutions. It's not going to take a generation or decades to become apparent. More like months.

However, AI cannot replace your creativity and what makes you unique, because it can only look backward. It will create new problems and challenges, requiring new solutions.

Don't be married to a particular product or service. Be enthralled with solving people's problems. Borders failed because it thought it was a bookstore.

It was married to the books and the CDs. Rather than satisfying people's appetite for easily accessible, fun, expansive learning experiences.

Look forward. Innovate to elevate.

Yesterday, a friend asked me, how have I been able to survive and thrive in the midst of trauma.

And overcome circumstances and offenses that normally torpedo people's motivation and cripple the soul.

Later on in the evening. I had a fascinating discussion with some members of the cadre regarding the importance of mental health and addressing trauma.

I've always viewed life like one big fitness test. And admittedly I'm a fitness fanatic and have periodically indulged in intense fitness challenges over the last several years or so.

I actively search for obstacles to overcome physically, mentally, spiritually, and otherwise. I prefer using the word fitness as opposed to health because I believe fitness is a verb.

I'm a firm believer that you have to act and fine-tune yourself in all areas of your life.

I expect difficulties to arise periodically. It's best to build and prepare for them in advance.

Thoughts?

One of the most draining and distracting challenges most small business owners have is managing staff.

This stress leads to anger, resentment, and overall disharmony creating an unfun (I didn't know it was really a word) environment to work in.

I observed a long time ago that most Starbucks cafes I've frequented typically have 10-12 people on staff, to fill 3-4 positions.

Yet, I'd observed the store manager interviewing people at a frenetic pace just about every time I walked in through the door.

What kind of message do you think it indirectly sends when they know their replacement is sitting at a table observing them?

Never stop looking for talent.

#smallbizarchitect #salesmanagement #nextoppsocial #businesstips #catchjsbuford