Danielle D. Tyson-Small Business Spotlight

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Tell me about yourself… I am a 32 single woman in the D.C. area. I am a grad student pursuing my MBA and I possess a BS in Business Administration currently. I have no children, but I love them. I love reading, helping others, talking, cooking, shopping, writing, traveling, and getaways. In July 2014, I decided to leave Corporate America and pursue my dreams of making my company bigger. I did not have any support, capital, or plan. I own and operate general business management and consulting solutions firm. I also have started engaging in Federal subcontracting opportunities. It has been established inside 2004 and opened in 2010; based in Oxon Hill, MD by way of the Washington, D.C. metro area.

What motivates you to keep going? My family, after loosing my grandmother (92 years old) in November 2014, it kept me motivated to keep going as she did and would like for my family to do. My passion for what I do also keep me motivates as well.

Do you feel your life is balanced between your personal and professional life?  Life can be balanced between the to, I feel it is up to that individual to find the balance and claim it. I am working on getting it more balanced than it was last year with hopes I can remove all distractions from both lives. Before I have children, I want to have that balance that will allow my time and attention to be divided up usefully.

What advice would you give to an aspiring entrepreneur? Never quit, keep going. It may get frustrating, stressful, and overwhelming. Know your limits and bring forth some strategies or methods to handle the stress. Embrace change, it may be conducive to your well being and businesses.

What’s your favorite social media platform? I love Facebook because of the close communications and interactions, but Twitter you can definitely reach a broader audience faster. Facebook has definitely brought my business further than it would if I didn’t have social media.

What book are you currently reading or would recommend to fellow entrepreneurs? I am not currently reading anything, but I am looking into purchasing some of these authors books I see on Facebook and support more small businesses.

What’s your favorite app? My favorite app is Google Hangouts/Chat, it allows me to make video calls, chat, and send pictures without getting disconnected to my personal email, cloud, and other internal connections.

What's your favorite Podcast account name? I don’t have one, not yet. Should I?

What’s your favorite Entrepreneur website/blog to visit? I love Black Enterprise and Entrepreneur, they bring forth a lot of relative articles and information that can be very useful or motivating to other entrepreneurs and business owners.

What’s your favorite quote?  “Here’s Another Day To Try Again, To Do It Over, Or To Keep Going. As Long As Your Moving, You Are Ahead Of Those Who Are Still...” – Data Domestics

Support & stay connected with Danielle with the links below: 

www.facebook.com/data.domestics – Business Page

www.facebook.com/danyelltyson – Personal Page

Twitter: @datadomestics

Email: DataDomestics@hotmail.com

Small Business Spotlight with Karnitia Holmes

Tell me about yourself… I am a single mom and CEO of Polished Consulting. I help develop nonprofit organizations throughout the funding process via grant writing, board development, etc.

What motivates you to keep going? Knowing I am making a difference and my son

Do you feel your life is balanced between your personal and professional life? Yes I feel I am doing a good job with work/life balance. Meditation is key!

What advice would you give to an aspiring entrepreneur? Go for it! Write down your plan of action and aim for greatness.

What’s your favorite social media platform? I am an instagram junkie!

What book are you currently reading or would recommend to fellow entrepreneurs? Boutique Branding for Riche Girls by Riche Life Media & Become your own boss in 12 months by Melinda E. Emerson

What’s your favorite app? I can't pick just one. I use so many!

What's your favorite Podcast account name? All in: Elevating Your Leadership Game

What’s your favorite Entrepreneur website/blog to visit? Forbes.com

Three Productivity Tools I'm Loving...

MailChimp: Is my go to email marketing tool I use it in all my businesses. For various reasons i.e. promotions, newsletters and reminders. 

Google Drive: From spreadsheets to documents to spreadsheets to be right a clip of a button- for free (or a very low fee.)

Google Calendar:  Perfect tool to plan and execute daily task and to appointments organized. I love that Google calendar gives you the option to color code items on your calendar.

What's your favorite productivity tool?

IDA Program?

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My Story

A couple of years prior to purchasing my first home I learned about the IDA program. I personally did not know of anyone who completed the program and actually received the promised funds... I immediately registered for the next set of classes (I can’t remember how many classes I had to attend in order to start the process of opening an account). At some point in the program we setup a savings for me) I had to make monthly deposits into the account and I believe the account had to be open for a certain amount of time prior to me being matched. I absolutely love this program. I had no problem receiving the funds (example save $1,500 get matched $3,000.).  

This is a program I share to pretty much share with everyone that I know. Even if they do not qualify about the program, it doesn’t hurt to share with someone who might.

About 

Individual Development Accounts (IDAs) are restricted savings accounts for individuals of limited financial means and for specific restricted purposes such as continuing education, purchasing a home or starting a business. IDA programs give participants formal and informal opportunities to learn how to manage and budget money, improve their earning capability, and invest in themselves and their communities.  IDA programs are managed by community organizations and accounts are held at local financial institutions. Private and public funds are used to match the contributions of low-income people as an incentive to participate. Matches are usually made at a 2:1 to 4:1 ratio.

ELIGIBILITY

Eligibility requirements vary but, for most of the community organizations that administer IDA programs in Connecticut, eligibility requirements include:

• Residency in given towns or counties;
• Employed;
• Income restrictions - 200% FPL or receiving assistance under TANF or eligible for the Federal Earned Income Tax Credit;
• Family net worth less than $10,000.

HOW IDAs WORK

Participants are usually asked to:

• Make monthly savings deposits;
• Contribute to a savings program for a maximum of four years;
• Attend a personal financial management workshop series; and
• Participate in asset-specific ownership preparation training.

information from  here

You are Your Brand

A lot people do not realize that they are a walking Billboard. Even if you do not own a business so to speak, you are still your brand. When people see you, they see your brand. For instance, if you’re a makeup artist and you never wear makeup. People are going to be very hesitant to go to you for services because you’re not a walking billboard like some who wears makeup often (especially if that person’s makeup looks amazing). Another example is someone who is a fashion stylist. However, looks a mess all of the time. Would you want someone styling you if they can’t even keep themselves together? Think about it…

It is also very important that while you’re in business that you do not want to be known for gossiping about people. Again, you are your brand. Would you want to do business with someone that gossips about all of their clients or partners? Be very, mindful of what you say to people and what you say about people.

Four Tips for Your Next Networking Event

There’s nothing worse than attending a networking event and feeling as if you completely wasted your time. Follow the four tips below to ace your next networking event.

Tip 1:

Wear a conversation starter. That may be a pair of shoes that you know you receive tons of complements on or your favorite lipstick or accessory.

Tips 2:

Attend an event that is in your industry. For example, you wouldn’t attend an accountant networking event if you weren’t an accountant (unless you were looking for an accountant) most events give an in-depth description of who will be attending the event or who the event is targeted to. If the event does not showcase that information, contact the host of the event to ensure that the event is a great fit for you.

Tip 3:

Create goals for the event. The goal could be to make four genuine connections at the event. Your goal at any networking event shouldn’t be to pass your business card out to everyone that walks by you. However, to actually make a connection with someone. By actually making a connection with someone, you may find out about additional networking events that are in your market.

Tip 4:

Have business cards and treat them like your credit cards. I mentioned to have business cards because you would be surprised how many people who do not have business cards on hand (you know, wait until they have one left to order more and it’s too late because they are already at the networking event.) Before you even RSVP for the networking event, check your inventory of business cards to ensure that you have enough to last you through your next order. Also, as mentioned before, treat your business card like a credit card. Don’t be in a race to give it to any and every one. Give it to people that you would actually want to build a connection with.  (you wouldn’t give your credit card information to just anyone right?)

4 Steps to Starting Your Business

1.Create a Business Plan-There are many templates online to get you started

(This should include)

• Marketing
• Products
• Goals
• Measurement
• Vision

2.Tax identification number, licenses and permits

• The requirements vary by state. However, every business should have an EIN number.

3.Incorporating your business or forming an LLC

4.Work Space?

• Make sure your business meets the zoning requirements in your area. 

A-Z Potential Tax-Deductible Items for Your Business

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As a small business owner (if you haven’t done so already) it’s time to gather all of your potential tax deductible items purchased in 2014. (Don't forget to consult with a professional)

Please find below a list of some potential tax-deductible items for your business:

• Accounting fees
• Advertising
• Auto expenses
• Bad debts that you cannot collect
• Banking fees
• Board meetings
• Building repairs and maintenance
• Business association membership dues
• Business travel
• Charitable deductions made for a business purpose
• Cleaning/janitorial services
• Collection Expenses
• Commissions to outside parties
• Computers and tech supplies
• Consulting fees
• Continuing education for yourself (to improve skills or maintain licensing )
• Conventions and trade shows
• Costs of goods sold
• Credit card convenience fees
• Depreciation
• Dining during business travel
• Discounts to customers
• Education and training for employees 
• Employee wages
• Entertainment for customers and clients
• Equipment/Equipment repairs
• Franchise fees 
• Freight or shipping costs
• Furniture or fixtures
• Gifts for customers (Limit: $25 deduction for each)
• Health insurance
• Home office
• Interest
• Internet hosting and services
• Investment advice and fees
• Legal fees
• License fees
• Losses due to theft
• Management fees
• Materials
• Maintenance
• Medical expenses (with plan)
• Mortgage interest on business property
• Moving
• Newspapers and magazines
• Office supplies and expenses
• Outside services
• Payroll taxes (for employees, including Social Security, Medicare taxes and unemployment taxes)
• Parking & tolls
• Pension plans
• Postage
• Publicity
• Prizes for contests
• Real estate-related expenses
• Rebates on sales
• Rent
• Research and development
• Retirement plans
• Royalties
• Safe-deposit box
• Safe
• Software and online services
• Storage rental
• Subcontractors
• Taxes
• Telephone
• Utilities
• Website design
• Workers' compensation insurance
•