Innovative and Evolved Business

Potential clients love to ask us about our name, NexStep Innovations, and our tag line, Business Evolved.

Just what does that mean?

It means that we are in the business of helping business owners attain the next step towards their particular goals through innovative strategies, designed especially for the individual business owner’s goals.

And just what is Business Evolved? The answer is different for each individual business. The answer is as varied as the multitude of businesses out there.

The business environment is always in flux; it usually changes every couple of years. In order for a business to survive, it has to be able to adapt as quickly as the business environment changes. That’s evolution, or the process of adaptation.

Politicians in congress will always put provisions in the law to suit their own business, and (though they won’t tell you), those provisions work for anybody. The changes in the tax code and the changes in asset protection laws cannot discriminate; they will work for any of us. NexStep Innovations’ business is to keep up with these provisions and to help you exploit them.

Each business, including NexStep Innovations, has a vision, a purpose. And each business, including NexStep Innovations, has a set of goals. Those goals are defined by you, the business owner. When you work to reach those goals, you follow a plan, or a strategy. As you attain your goals, or if you see that your goals are not getting the results you want, you set new goals. All of that is part of your business maturing, adapting, and becoming successful. That is all part of your business evolution. We’ve all had goals that we thought were important but that turned out to be what we wanted and not what our customers wanted. So we work our plan and modify our plan as the business grows. It doesn’t matter if we’ve been in business for only a short time or for years and years – we build the business by following a plan and being flexible when needed. We continue to evolve.

So the idea of NexStep Innovations is to help your business, no matter what point you’re at, to continue building and following a plan. We design strategies that help you attain your particular goals, and as each business is sitting at a different step on the ladder of growth, we help you take your next step.

And Business Evolved means that we take a very individualized approach to building those strategies.  Business Evolved means that we develop an individual solution for you and aren’t stuck with the idea that everyone should be following the same path in their business. The answers were not the same yesterday as they are today, and tomorrow they may change again. Evolution is the idea that we build and adapt according to the environment and the changes in the environment. Innovation makes the evolution happen.

That’s NexStep Innovations, LLC, Business Evolved.

Yes, a corporation can establish business credit. It is in the best interest of both you and your business to separate the credit profile of the business from your personal credit profile.  One of the reasons you decided to incorporate was to separate your personal liability and your business liability.  By loaning your personal credit to the business, you create personal liability, not separation.

We want you to think about this question for a moment: if your business fails today, how much financial debt would you be personally liable for?  For people just like you, that has become reality for them.  They are stuck for years trying to shovel out of personal financial ruin.  With a little work you can prevent this from being your reality.

Do understand that business credit is nothing like personal credit.  If you make financial mistakes with your personal credit, you are able to fix it over time; not so with your business credit.  If a personal creditor provides incorrect reporting you are able to have it corrected; a business can’t.  And the biggest difference between personal credit and business credit is that there isn’t a single federal regulation governing business credit bureaus, so the bureaus get to make their own rules and play by their own rules.  Dun & Bradstreet (D & B) is the oldest and most well-known of those credit bureaus, and the majority of business creditors rely solely on their reports when determining businesses credit worthiness.  So it’s important to have a solid Duns number.

Thousands of businesses are out there promising business owners assistance with establishing business credit.  You have probably heard their advertisements, offering promises of enchanted lines of business credit, instant access to unsecured credit cards, millions of dollars of investment capital, the ability to obtain luxury vehicles, to name a few.  These Organizations make millions of dollars from their inaccurate advertising, due in full to business owners who leave their common sense in the bathroom so they can buy into these organizations’ programs.

We would encourage you to make establishing business credit a priority; however, be understanding when it comes to the work and time involved with doing so.  If you are inexperienced in building business credit, having someone with experience to help you along the way is a great idea.  If you would like assistance finding a reputable organization to assist in establishing business credit, give NexStep Innovations LLC a call.

Why should I be incorporated?

So you’ve heard all this talk about how your business should be incorporated.  You’ve tried researching this whole incorporating thing.  You’ve only found the more you read the more complicated it gets, most information contains big words that you can’t figure out how to pronounce or what they mean.   Here is the easiest way to understand why you should incorporate your business.

Every business owner wants to provide TLC for their business.

Tax Benefits: Incorporated entities have many tax benefits both on a federal and state level.  The only tax advisors that would tell you anything other than this is those who do not practice and are not experts in the area of business taxes.  If a tax advisor tells you that you’re too small or that you won’t receive tax benefits.  You need not work with them; they will only cost you money and stunt your mental business health.

Liability Protection: Incorporated entities separate the businesses life from your life.  All business activity is conducted as a separate legal person; therefore, any legal actions taken against the business are only going to put the assets of the business at risk.  Any assets in your personal name are only at risk in personal legal actions.  You do all the thinking and act on behalf of the business entity; you document those thoughts and actions within the records of the incorporated entity.

Credit: Incorporated entities have the capability to establish.  Businesses should be responsible for its bills, funding and debt.   As you personally take on the debt of the company, as you extend your personal credit to the business, you will become incapable of growing your assets both on a personal and business level.

How easy was that!