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A beginner Guide to Brand Equity

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If you have ever started and run any successful business such as Affordable Towing In Orlando, you know the importance of branding in casting a lasting and impressive image of a business to inform customers. Brand equity refers to the combination of customer perception, experience, and opinion about a company. Brand equity can have a direct impact on sales and revenue, as well as the reputation a business attracts.

Chances are that at one given time, you might have decided to buy from a specific company based on the reviews you received from your friends. Negative brand equity might come as a result of poor customer service, inaccuracy in pricing, and lack of transparency. If you are looking forward to building brand equity for your business, here are a couple of ways to go about it.

Research public perception of your brand

Customers are not the only group of stakeholders who contribute to brand equity. You need to approach public perception of how they view your business. Your market will contribute to brand equity from an outward perspective. You must research their opinion as it becomes important to get to learn how they think about your business. Additionally, you will understand the challenges your audience face while trying to interact with your business.

Communicate your brand beliefs in marketing

One of the best ways to begin building brand equity is to put branding at the forefront when executing marketing campaigns. Every visual asset you make should speak to your brand in some way. Make full use of colors, images, and other copies that would work to your benefit and introduce a tone that speaks about your business. Customers and audience will be keen to pick up details that define your company.

Turn what customers say into action

If you have been collecting customer stories and data, you can use the information to boost brand equity. An example is how customer reviews might be mentioning a new addition of software, teasing releases, and that could be a great way to earn a positive reception. It is also a good idea to promote customer interaction. If your company doesn’t interact with customers on social media, you are missing out on a valuable aspect of promoting your brand image.

Be present on social

Being present in social sounds like a no brainier. However, it is important to actively devote yourself to excellent customer service. Customers will always follow a company on social media because of a product, and then make the ultimate decision on buying or not, based on communication such a company puts on social media.

It is also important to emphasize how you are different. Most of you who have seen the “Get a Mac” campaign can ascertain what being different means. Apple used the campaign to show why getting a Mac was a better decision due to the superior features and capabilities Mac offered. To get a market edge, it is important to use campaigns that explicitly state how your product is best suited for the customer.

How to Decide Which Business Structure Is Right for You

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You may be stuck trying to figure out which business structure is right for your business. Should you stay as a sole proprietor or should you go for partnership?  Picking a business structure is usually the first big legal decision you have to make as a business owner, and normally the most confusing decision you will have to make. Incorporating business required a lot of thought and careful considerations.

We have created this guide to give you general advice that can help you make a better decision on the type of business structure to incorporate. Before we gab get into the deciding factors when setting up a company, lets first understand the different business structures that exist.

C Corporation

These are legally considered separate entities from their owner. When it comes to income, it is taxed at the corporate level and is taxed again when it is distributed to owners.

Next, we have an S Corporation. This type of structure gives 100 shareholders or less the benefit of incorporating a company while being taxed as a partnership. Profits that are earned by the corporation are not taxed at the corporate level but get taxed at the individual level of the shareholders.

Limited Liability Company

A limited liability company, LLC, entails a corporate structure where members of the company cannot be held personally liable for company debts or liabilities.

Below an LLC, we have partnerships. It entails an arrangement in which two or more individuals share the profits and liabilities of a business venture.

At the lowest level is a sole proprietorship. It is an incorporated business with one owner who pays personal income tax on profits from the business. These types of businesses happen with little government regulations and they are the simplest businesses to set up.

Deciding on what structure to take

It can be a daunting task to decide on what type of structure to take. The first thing you need to put in mind is your concerns on matters liability. If you are working in a high-risk field or one that is susceptible to lawsuits such as medicine, food, among others, you need to choose a structure that protects you from liability.

The next thing to put in mind is how you will be hiring or contracting for your business. With an official business structure such as a corporation, you will be protected personally from the actions of your employees. If you hire someone and they make a mistake that results in damages, the corporation will be able to minimize your liability.

Consider the way you like to keep things, either simple or complex. While corporations and limited liability companies will give you protection from personal liability, they also differ in terms of paperwork. Corporations are more complex to run and manage. There is a requirement to appoint a board of directors and you should be holding annual shareholders meeting with directors. You should document key decisions made by shareholders and you should also file a separate corporate income tax returns.

Equipment and Tools Needed for Fly Fishing

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fly fishing shopFly fishing is a type of sport where you attempt to catch fish by use of artificial material such as imitation of flies that resembles what makes up a fish food base. You can do fly fishing in many places such as local fishing clubs, in trout fisheries, still waters, streams, rivers, seas and even lakes. Fly fishing requires specialized equipment to facilitate the sporting activity as described below;

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