The BOSS Network Blog

Everyone has various reasons why they became an entrepreneur, or started a business or chose a particular field in life.  There is something behind the decisions we make or made that led us to where we are today or where we are trying to go.  There are also times however when you want to quit, when you question your decisions and when you feel like giving up.  Don’t! Ultimately, it is important to remember why you started.  For me I always wanted more out of life.  Working the good government job was not all that this life had for me.  God wanted more for me and most importantly, I wanted more.  The road to entrepreneurship is not easy.  There are many bumps on the road.  There were times when I questioned my decisions, there were times when I was afraid of investing in myself, what if I needed that money, but ultimately, God continues to remind me that I have never failed, and that God is always there. I also had to remember why I sta...

I meet a lot of people who say, “I want to start a non-profit.”  I encourage the spirit of giving but not every worthy cause requires creating an organization.  The process of starting a nonprofit involves more than picking a noble cause and a nice name.  You will need to get the government involved to make things official and before you go that route, you need to figure out if it is worth the investment. What does the “charity” designation mean? The charitable organization designation is granted by the Internal Revenue Service (IRS).  A normal business organization is typically setup to generate profits for the benefit of its owners. On other hand a charity is setup to raise money (and not necessarily profit), for the benefit of others. The IRS designation means that your organization’s purpose is one that should benefit the public. What is the purpose? Charities benefit the public and carry benefits for their supporters, particula...

Concerned about student loans blocking you from building a business? Student loan debt does not have to be a dealbreaker. Every individual is different but here are four general tips to consider when you need to manage student loan debt and you want to build a business. 1. Stay current - It is critical for you to remain up to date with your payments. Student loan payments are reported to credit bureaus and late or missed payments will have a negative impact on your credit score. Poor credit will subject you to higher interest rates or flat out rejection when applying for other loans. High interest debt will rob you of cash you could be pumping into your business. Staying current is a tip that applies to any debt but it is important to remember that federal student loans are not just any debt. The penalties for going into default are far-reaching, including seizing your tax refund and federal benefit payments, and having your wages garnished. 2. Consider consolidation – Conso...