Mashable recently published a great article on “Protecting Your Business Name” that outlines 3 essential steps you should take to protect your business and brand and I thought that her advice was inspired and should be shared with all small business owners or people thinking about starting a business. I wanted to share with you these tips, and add one important addition to help you protect your brand and business name!

Step 1: The Brainstorm

“How you develop the perfect name is fairly subjective.” Define your mission, pick what’s important and then come up with a dozen or so potential names. Yes, a dozen…  or as the article warns, “don’t get too attached to any one name during the brainstorming process. It’s all too tempting to begin envisioning your company logo, web design, signage, business cards, and more. But you’ve got to make sure that perfect name is actually available to use.”

Try testing the name on your friends and family and see how they react. Dump some ideas in whois.com to see what URLs are actually available (they give great alternate suggestions!) and do a Google search both generic and in your area. And be specfic: “A descriptive name helps frame your company better than a generic one. For example, Speedy Electronics vs. Speedy. Adding this qualifier lets potential customers instantly know what you’re about. ”

Step 2: The Investigation

“Before you invest too much energy and excitement in a name, you’ll need to confirm that it’s available in the state where you are planning to conduct business, as well as nationwide.” Not doing this opens you up to the punitive damages and legal fees associated with a trademark lawsuit. You could be ordered to immediately abandon your name, wasting the money, time and effort you invested building that brand.  And if that’s not enough to scare you, “if you try registering a trademark that is similar to an existing mark, the U.S. Patent and Trademark Office (USPTO) will reject your application straight away and you won’t be able to get a refund on your application fee.”

So how do you make sure you’re legally permitted to use a name? According to the Mashable article,

• Search corporate names in the secretary of state’s database in the state where you’re planning on setting up your business by using a trademark search engine. The USPTO offers one here.
• Conduct a free trademark search to see if your name is available to use at the federal level. The USPTO offers a free search tool that’s a great place to start to see if your name is available to use nationwide.
• It’s important to know that you can infringe on someone else’s mark even if they’ve never formally registered it with the USPTO. For this reason, you’ll also need to do a comprehensive nationwide trademark search into state and local databases. This should include common law and county registrars. You can order a Comprehensive Nationwide Trademark Search online starting from just $199.
• You should also make sure that domain names are available with .com, .net, .biz and other relevant domain extensions.

Step 3: Registration

Now that you picked the name you want don’t wait to register it with the proper authorities. According to the Mashable article, “This should be done as soon as possible to prevent someone else from registering it. An assumed name –- also referred to as a “Fictitious Business Name” or “Doing Business As (DBA)” — is the easiest type of registration. This involves applying for a name at the county government offices and paying a fee.”

You should note, there’s no law which requires you to register a trademark. “Using a name instantly gives you common law rights as an owner, even without formal registration. However, you should consider registering your trademark for proper legal protection — after all, you’ve spent untold hours brainstorming the ideal name, and you’ll be putting even more effort into cultivating brand recognition.”

Register with the USPTO, it’s a relatively easy process.

“Expect to pay approximately $325 per class that your mark would fall under (that’s for filing directly online; it’s approximately $375 per class for paper filings). The process can take anywhere from 9 to 12 months once your application is submitted. So why register? Trademarks and brand names have value; they can be sold as corporate assets. But most importantly, trademarks registered with the USPTO enjoy significantly stronger protection than “common law” (unregistered) marks. Since registering the mark CorpNet, it has been exponentially easier to recover “CorpNet” on Twitter, Facebook, and YouTube. It can save a ton on the legal fees associated with getting injunctions and all because CorpNet registered the trademark.One last tip: If you are considering incorporating or forming an LLC for your business, you should do so before you register any trademarks. This places your trademark under the umbrella of the corporation or LLC.”

Guest post by Matthew Toren, co-founder of  YoungEntrepreneur.com, one of the largest and fastest growing small business social networking forums for entrepreneurs, and a “must visit” resource for start-up CEOs, founders, aspiring entrepreneurs, mentors and investors worldwide, reaching an audience that very few can match.

As a general rule, entrepreneurs are hard workers.  We have to work hard if we hope to succeed in business.  All too often, all that hard work adds up to a whole lot of stress and pressure that can take quite a toll over time.  In fact studies have found that real damage can be done to people who overwork themselves without balancing hard work with some healthy habits.  Some estimates even put up to 90% of all doctors’ visits as being for issues that are, in some form, stress related.  Of course hard core workaholics say they have little choice and are just trying to become successful, but that success does no one any good if you’re not around or too sick to enjoy the benefits.  So, here is a short list of steps you can take to stay fresh and avoid entrepreneurial burnout:

1. Manage your time well. Everyone has the same 24 hours to spend at the beginning of each day, but some people are not as good as others at managing that time well.  Unfortunately, poor time management abilities can seriously add to a person’s burnout potential.  And that makes sense.  When we don’t make good use of time, deadlines sneak up on us, we find ourselves hurrying around everywhere we go, and we can even add to our stress by not being able to follow through as promised on projects.  A great way to get better at time management is to compartmentalize your responsibilities.  In other words, group tasks that are similar, so you don’t end up jumping all over and can focus on one specific category until you’re ready to move to the next.  For instance, you can designate a specific time every day to check your email, or to turn your attention to social media.  Even though Twitter wants to know what you’re doing every second, this is much more efficient than checking in throughout the day.  The increase in your focus will end up saving you a ton of time.

2. Exercise your body as much as your brain. As a business owner, there’s little doubt your brain is getting a regular workout, but what about your body?  Staying in the best physical shape possible is by far the best way to reduce your stress and increase your ability to handle more stress in ways that won’t harm you long term.  Exercise has a positive, lasting effect on your mind and body, and it’s one of the very best ways to combat burnout.  And the great part is that it really doesn’t have to take that much time from your schedule. Just 30 minutes a day, 3 days a week can make a huge difference!

3. Eat well. Similar to exercise, eating right will help you to feel good and reduce stress and burnout.  And even for busy business owners on the move, who often resort to unhealthy food choices, it can be easier than you might think to make some important changes to your diet.  Just the simple act of eliminating soft drinks from your life and replacing them with clean (unflavored) water can make a significant difference in how you feel.  And you’re likely to lose some weight in the process!

4. Don’t be afraid to ask for help. Entrepreneurs are notoriously independent, and we often reject the idea that we need help.  But while this attitude might have allowed you to break free from the pack and venture into entrepreneurship in the first place, it’s also one that can lead to burnout early.  Approaching this issue the right way though, can not only help you stay healthy and productive, it can actually end up saving you money and keep you in better control of your business.  For example, finding a virtual assistant or part time help to take on those tasks you don’t like or that take up too much of your time will not only improve your state of mind, it will also free you up to work on building your business and do what you’re most passionate about.  And passion is sort of like the opposite of burnout!

5. Socialize. Setting aside time to do whatever you love to do – other than work – is important for living a balanced, fulfilled life.  Whether you go out to dinner with friends, see a movie now and then, attend a sports event or head to the park with the family, social time helps to take your mind off the pressures of your business for a little while.  Having some fun and focusing on activities that aren’t business related on a regular basis will help reduce stress and might even make you more productive when you return to work.

Do you have other suggestions for managing stress, avoiding burnout, and staying fresh as an entrepreneur?  Be sure to share your thoughts and ideas in the comments!

The WorkingPoint Team is proudly located in the city of San Francisco, which celebrated their World Series Victory with a World Series Victory Parade down the historic route taken by the Giants when they first came to San Francisco in 1958. This ticker tape parade featured the entire organization, from the front office workers to the ushers, to the jubilant players themselves. This post season victory, which was also the first World Series victory for the Giants since they moved to San Francisco in 1958. In addition to the civic pride, this momentous and exciting post season was also a huge boon to the local economy. The outpouring of support for local businesses, especially restaurants and bars, has resulted in a huge boost in spending and revenue. A cottage industry of independent t-shirt designs has sprung up all over the city featuring the beloved cast of characters (fear the beard motifs are especially popular).The jubilant players, Cody Ross, Timmy Lincecum, Brian Wilson, Aubrey Huff, Madison Bumgardner, Matt Cain, MVP Edgar Renteria paraded down the streets of San Francisco in the iconic SF Cable Cars.

SF Mayor Gavin Newsom said that this post season has brought the city together like never before, with outpourings of civic pride and support for local business. We support small business in San Francisco and we are proud to congratulate the SF Giants on their victory. We hope you enjoy these photos and videos from the parade, and that the outpouring of support for local small businesses will continue long after the excitement over the victory has abated.

Despite cautiously optimistic reports about the state of the US economy, times are still tough for a lot of us.   With financial insecurity and declining spending, rampant cost cutting and unemployment, people are staying in jobs they hate just because they are afraid of not finding something else.  From the rubble of these challenging times, a new type of job has reached it’s zenith.  This new worker, known as the “independent contractor” eliminates the financial burden of providing benefits.  These freelance contractors, IT contractors, consultants, whatever you call them, are a growing force in the new economy.

Like any job this new role comes with various benefits and challenges. Figuring out if these are worth the trade off for you can open new possibilities for opportunities in this crazy new economy.

What does this new worker look like? What are the benefits and risks of going independent? How do you know if being an independent contractor is right for you?

Top 5 reasons it’s actually great to be an Independent Contractor:

1) The freedom of being your own boss!

2) Flexible hours, you pick when you want to work!

3) The opportunity to pick and choose projects you are excited about!

4) Ownership of your work product (especially in a creative field).

5) The ability to work with lots of exciting people and businesses!

Top 5 reasons it’s hard to be an Independent Contractor:

1) Relative instability, where will your next paycheck come from?

2) You are on your own for benefits! Medical and dental coverage not included!

3) It’s extra challenging to be viewed as part of the team you are working with!

4) Worker’s Compensation and Unemployment are not provided to independent contractors.

5) You are an independent business which means you are responsible for keeping track of your time, your billable hours and your expenses.

Fortunately for Independent Contractors, there are super easy to use tools which will help you run your business, everything from invoicing your clients to preparing for tax season. Tools like WorkingPoint which allow you to send and track invoices and keeps your books automatically.

As an independent contractor might be that your time is your value, so the less time you can spend on “housekeeping” tasks like invoicing and bookkeeping, the more billable client hours you can accrue as an independent contractor.

Some of our most popular posts on the WorkingPoint Blog are the many articles we’ve created that provide Search Engine Optimization tips for small business owners like you. We decided to put these all together into a Search Engine Optimization training which can help you build the understanding you need to start implementing search engine optimization techniques. If you are ready to learn search engine optimization (SEO) this is a great place to start!

The way that this curriculum is set up, each article will build upon the article before. Make sure to click on the hyperlinks and read the recommended reading!

Lesson #1: What is SEO? Learn the basic terms and concepts

The first step to implementing and SEO strategy is understanding how people search.

Excerpt: If you as a consumer have ever used the internet to shop and/or search for a place to shop, then at some point you have probably entered a search term into a search engine like Google, Yahoo or Bing. Understanding how people search is the first step to understanding SEO.

So you set up your WorkingPoint Account. You’ve got your accounting software up and running, and you finally created that free profit and loss statement everyone’s been telling you that you need for your business which is included with your paid subscription to WorkingPoint. Your head is buzzing with words like equity, revenue, expenses…. So what do you do with your profit and loss statement (also known as an Income Statement) now that you’ve made it? Why does everyone tell you that you need one?  The following is a list of 4 things you should do with the statement to help you to run your business better:

1) Look for trends There is more than one way to look at an income statement. Set it up by month, season, even day of the week. Are their any trends? Does high profit correspond to a marketing event? A holiday? A specific product you carry? Being aware of these trends will help you plan accordingly when it comes to inventory/scheduling, and start to think creatively about what those trends mean about your clients and customers. Could you carry over the strategy that generated the bump into less profitable times? Throw additional strategic events? Form some kind of partnership or increase stock with the product line that is doing so well for you? These trends and patterns should drive your business strategy by showing you where you are succeeding, and failing. Put more resources into where you are strongest, and stop wasting them in areas that aren’t working for you. If it’s costing you more than it’s earning you, reconsider that part of your business.  Make sure you understand what’s working for you, and what isn’t.

2) Create a budget Look at your spending patterns and then plan accordingly. Step one is identifying the trends. Step two is developing a strategy. Step three is making sure you have the ability to capitalize on that strategy with the funds, inventory and resources  you need. Where will you increase spending? Where will you cut to increase spending in the area? How can you cut down on expenses where they aren’t translating into a high ROI? How much should you be spending each year/quarter on things like office supplies, rent, equipment, software, etc? Use your income statement to help your business stay on track and stay profitable.

3) Print out a Copy and send it to your accountant If you have an accountant why not print out a copy of the report in addition to the other tax reports you can generate in WorkingPoint and give that to your accountant to help you when tax season rolls around. The more complete the financial picture your accountant has, the more they will be able to help you!

4) Check it and Update it all the time Stay on top of your business by keeping your financial up to date. You can evaluate the health of your business, and make sure your strategies are on track.  As a small business owner, taking the time to “check in” with your income statement will help to keep you focused and on track towards your goal of managing a successful business!

Every once in awhile the WorkingPoint team comes across an application which is so cool that we can’t help but share it. As an accounting software, we deal with business accounting all day long and we love any way that can make your business accounting easier. Even if it’s just a few clicks easier. So whether you need to check your revenue, make a profit loss report, access your CRM, send a free invoice, record an expense or any other essential business function, we love the idea of having all those functions you get with a WorkingPoint subscription stored right on your desktop.

The easier it is to access the WorkingPoint application the more likely you are to frequently record your data and the better the software will work for you. Sounds great right? A great way to do this is to make it as easy as possible to find your WorkingPoint account. What’s easier than bookmarking the site (already pretty easy!)…. Having it “live” on your desktop! One click brings you there!

One of our awesome engineers recommended that I try out this app, it takes any web application and turns into a desktop icon! It’s like magic. I decided to create a quick video to show you just how easy (and FREE!) it is to set up a WorkingPoint desktop icon using FluidApp. Please note: It only works on Macs, sorry PC users!

Mashable recently released a preview of the front runners for the “Top Social Media Tools for Small Business” in this years Mashable Awards. These results are hevaily influenced by user data, and feedback they gather from real small businesses. Their preview of the early favorites is an exciting opportunity to see what’s going on in the small business social media, and learn about what and how the masses are using social media for business. I chose to highlight four from this list, but the fact that this list contains 7 amazing tools designed for/or used for small business marketing just goes to show that small business social media really is here to stay. Social Media is the new small business PR.  The world of social media for  business is adapting to this need with a bevvy of awesome products to make social media measurement and social media ROI as efficient as possible for busy small business owners. Whether you just use the New Twitter, or you’re thinking about investing in social media software for small business, check out these awesome (mostly free!) tools that other small businesses are raving about.

Winner: (Communications Service for Small Business) Twitter

It seems that Twitter beat out their closest competitor facebook as the most lauded tool for small businesses to do everything from “quickly and effectively enhance customer service, business development, public relations and even lead generation…” to “humanize their brands, making them seem more friendly and approachable.” Still wary of the minimalist platform? Check out this quick and easy video which tell you everything you know to get started using twitter for your business.

Winner: (Video-Sharing Service) YouTube

Long have we at WorkingPoint extolled the virtue of videotape as a Social Media Tool for small business ( “Small Business Marketing & Management: Video“) and we boast our very own WorkingPoint Youtube channel, where we host all of our awesome videos, how to’s, product feature explanations and more.

Winner: (Location-Based Service) Foursquare

We think location based services are going to be a boon for location based businesses, and that early adapters will rate great rewards. Check out “2 Emerging Social Media Platforms You Should Be Using Right Now” if you’re considering throwing your hat into the LBS ring!

Winner: (Social Media Dashboard) TweetDeck

I just signed up for this platform after reading this review. I plan to take it for a test run ASAP, so check back for a more detailed review! For now, I can say, I am already in love with how easy they make it to select which platform (I currently have it set up for Twitter, Facebook, LinkedIn, and Foursquare) and how they can autoshorten URLs after you’ve already put them into the post. My current favorite URL shortener, (something I do about 25 times a day as the curator of the WP Twitter account and Facebook page) is Goo.gl which has a button you can click right in your browser bar to shorten and copy. However, I’m already loving this function for when I forget to shorten and don’t want to switch back or have closed the window! I can’t wait to check out the corresponding iphone app as well!

What are your favorite tools for Small Business Marketing and Social Media? Let us know!

See how easy it is to record expenses in WorkingPoint. WorkingPoint is the one place that has everything you need – software, content and community – to start, manage and grow your business. Every once an awhile we like to remind you just how easy WorkingPoint makes keeping your business books…

Accounting is so important for your business. You need a business accounting software, payroll, bookkeeping that will do more than just keep your accounts in order or be a general ledger. You need an accounting software that is designed especially for the way you run your small business. Enter WorkingPoint.

What makes WorkingPoint so special?

No other small business financial software includes free invoices you can send via email, profit loss statements and all the other features you need to run your business in such an easy to use package! Enter your information into our free profit and loss form to see a complete financial picture of your business in a few easy steps. Looking to start creating invoices or for an easy free invoice download, free printable invoice or free online invoice form? Create invoices for free with a WorkingPoint software subscription for only $9 a month. Looking for a sample profit and loss statement? We’ve got a profit loss form to get you started. Create a WorkingPoint login in a few easy steps and get started.

WorkingPoint is more than just a free invoice. It’s more than just a free profit loss statement form. It integrates your invoice with a complete financial picture of your business. Generate invoices from your working point dashboard with our free invoice template, then generate a profit and loss statement. WorkingPoint is so much more than just a free invoice template! With WorkingPoint.com you can see how your invoices are impacting your profit and loss. Plug your data into our easy to use online info template, create an invoice, generate and send invoices with ease, create profit and loss statement and more.

End blatant self promotion.

As an accounting software, we deal with business accounting all day long. We have a talented support staff that really knows how to make revenue, income, chart of accounts, profit loss reports, and everything else financial seem easy and doable (even without an Accounting degree). Every once and awhile we come across a support question which we’ve never come across before, and which we think you might benefit from knowing the answer to.

All of our paid members can access accounting support from our highly trade support staff, who are available to answer your questions about both the application and small business accounting.

Support Question:
Is there a way that you can receive a payment on invoice without depositing it into your bank account on the day you receive it? I might receive payment today and then another tomorrow and then make a deposit tomorrow. That way my bank account lines up even with my accounting reports.

WorkingPoint Answer:

Thanks for your email. At this time, we do not support a traditional undeposited funds account that holds payments that have been posted against invoices until you deposit them. When you receive a payment against an invoice in WorkingPoint, the payment is automatically entered as a deposit in the bank account you choose.

One way you could handle the deposit would be to create your own undeposited funds account by creating a new bank account called Undeposited Funds (or the like) and always choose that bank account as the deposit to account when you receive a payment. Then when you are ready to deposit, you can use the Move Entries feature to move the payment from one bank account to the one you actually deposited your money too. The handy checkboxes let you choose and move more than one payment – so if you pile them up before heading to your bank, this may be an option for you.

Hope that helps. Please let me know if I can assist you with anything else.

Best,
Kelli