Sole Proprietorship or Solo Practice: Which is the Best Business Structure for You?

Choosing a legal business structure is one of the most important decisions you will make as an entrepreneur or freelancer. Many people start businesses all by themselves, without a partner, and depending on the state laws, there are a variety of solo business entities that can be operated by one person.

Sole Proprietorship

A sole proprietorship (SP) is the easiest business type to set up; you don’t have to do anything to get started. Sole proprietorships are unincorporated businesses operated by one person for profit. Without a formal business entity, the company and the person are one and the same, and the owner is personally liable for any debts and obligations incurred by the business. Although most states do not require an SP to register with the government, it is a good practice to register your company with your local jurisdiction, choose a name, and pay a small fee, and set up shop. If you decide to operate as a sole proprietorship, you should weigh the ease of business setup with the potential risk of personal liability.

Solo Practice

A solo practice is operated by a licensed professional such as an attorney, a doctor, or an accountant. While a solo practice does not have any partners, it can include support staff such as administrative assistants, nurses, paralegals, and other professionals. A solo practice can be a sole proprietorship but often chooses to formalize as another business entity, such as a limited liability company (LLC), a corporation (C), or a professional limited liability company (PLLC). There are advantages and disadvantages to each of the types of formal business structures, but the major advantages are the avoidance of double tax obligations and the protection of your personal assets.

Consult the Experts

Many freelancers, such as writers, musicians, designers, artists, etc., start off as sole proprietors, but later may formalize their business and protect their personal assets by eventually setting up some type of corporation. It is also illegal to commingle your business finances with your personal finances. It is always recommended to consult with an attorney and an accountant as you set up your company.

The professionals at Your Business Your Brand Creatively work with entrepreneurs, freelancers, and solo professionals on various branding, marketing, business communication, and social media projects. Please contact us and we would be happy to work with you.

Photo Credit: Copyright: <a href=’’>almagami / 123RF Stock Photo

Posted by Pamela Hilliard Owens  |  0 Comment  |  in business structure, entrepreneurship, freelancing

YB2C Live Radio Show on Hiatus Until January 2017


iphone_slide1YB2C Live is a new radio show that I debuted just six weeks ago on October 1, 2016. The purpose of YB2C Live is to focus on the issues unique to freelancing and entrepreneurship, especially in Detroit Michigan, with topical weekly shows and interesting guests, both of which add value to the show.

YB2C Live has been hosted on radio station WCHB NewsTalk Radio 1200 AM since its inception, but I am putting the radio show on hiatus starting today and throughout the remainder of 2016. YB2C Live will return in January 2017.

As you may know, YB2C Live is an extension of my 3rd company, Your Business Your Brand Creatively, through which I offer training, branding, marketing, and web design and maintenance services to freelancers, creative and other solo professionals, and very small business owners.

I also have two other businesses: Writing It Right For You (writing and editing for individuals and businesses) and Detroit Ink Publishing (editing, manuscript preparation, and self-publishing). My schedule as a local and national speaker on freelancing and entrepreneurship is also growing, and I am an Evernote Certified Consultant, working with individuals and businesses on effectively integrating the Evernote app into their workflows. Yes, I have a lot going on…Wow!

There are two main reasons why I had to put the radio show on hiatus:

1. Due to scheduled and unscheduled family obligations (including a death in our family), I must re-focus my time throughout the remainder of 2016 in order to balance all of my personal and professional obligations.
2. I am also going to use this time to examine and re-assess the current business model with the WCHB radio show as it relates to YB2C Live as a radio show. Many entrepreneurs understand that business models, which exist to generate revenue for the company and to provide the operational factors that are the foundation of the business, may need to change for several reasons.

YB2C Live will be back in full force in January 2017. Between now and then, there may be some tweaks and changes leading up to the new year—I will keep you posted. So that you stay informed, make sure to:

• “Like” the YB2C Live Facebook Page and
• Follow us on Twitter @yb2c_system

Watch this space! Great things coming in 2017! We love having you with us on this journey!

Posted by Pamela Hilliard Owens  |  0 Comment  |  in freelancing, marketing, YB2C Live

Abundance or Scarcity: What is YOUR Mindset?

Abundance vs ScarcityAs a former English teacher, I love definitions. Abundance can be defined as “…extremely plentiful or overflowing fullness,” while scarcity often means insufficiency or shortness of supply. As freelancers, when we are growing our businesses, it is important for us to realize the difference in these two words and to be confident in knowing that how we view our work is how results eventually manifest themselves.

While it may seem a little “New Age” or “woo-woo” to believe that what you think about you bring about, I have found that belief in abundance manifests abundance as I have grown from one business to three companies over the past eight years. When I started my first business, Writing It Right For You, focusing on providing writing and editing services for individuals and small businesses, I did not even think about the very real fact that July 2008 was right in the middle of the Great Recession. If all I thought about when I started out was that the economy was in the dumps and no one had any money so I’d never find any clients, that is exactly what would have happened. It was easy to have a scarcity mindset during bad economic times, but I instead focused on my goals and especially on what activities I needed to complete each day to reach my goals. It wasn’t always easy—nothing of value ever is—but I reached the goals I set and achieved more than I even imagined possible.

Yes, there are the realities of life, and being a freelancer and a business owner is very hard work. There really is no such thing as “If you build it they will come…,” it will take much, much more than that. But success for you and your business starts with believing that you will be successful and setting up your thinking processes and your mindset to produce the abundance you seek.


What are you thinking about as you start each day and look at your numbers? Are you willing to look for the opportunities that are out there, or are you staying in your safe space? Are you stating your goals in the present tense as if you have already achieved them? Do you realize that just because other people have succeeded it does not follow that you must fail? Are you giving now so that you may receive later?

Through my company Your Business Your Brand Creatively, I work with freelancers, creative professionals, and small business owners to grow their businesses through branding and marketing activities. If you would like to learn how to work with an abundance mindset and remove yourself from the endless loop of scarcity thinking, contact us. We would love to work with you.

Posted by Pamela Hilliard Owens  |  0 Comment  |  in branding, Freelance Business, freelancing, marketing

Bring a Gusher to your Marketing by Priming the Pump

Priming-The-Pump-normal_primingMarketing your business is one of the most important things you should focus on. A good marketing strategy can have a great impact on the success or failure of your business or product. All businesses, including the smaller ones, put a huge effort in making their brands attractive and position themselves in the market. However, bigger firms that are already well positioned can afford to invest much more money in their marketing strategy than smaller businesses and start-ups. These smaller businesses usually work with a limited budget and often with a less-experienced staff.

However, there are a few “tricks” or secrets that can greatly help your business’s marketing strategy. Here are some of them:

1)   Take care of your customers: They are the ones that will judge whether you met their expectations or not.

You may offer an amazing product or service, but in the end, it is not enough to have a “build it and they will come” approach. Your customers and clients have to feel special and unique and they should always have a 100% positive experience with your company. If this happens, they will refer and recommend your business to others. Don’t underestimate the power of having a close relationship with them. Talking and interacting with your customers and clients often ensures they feel important and also allows you to get first-hand feedback from their own experiences. Nurturing these long-term customers is equally important as gaining new sales.

3002416927_de32fbe3c42)   Sharing great free content on your social media channels: Some of the most successful influencers dedicate some of their time to choose and share relevant articles that will be useful for others.

Instead of trying to promote your business in an old fashion sales-oriented way, try to also bring attention to your social media accounts by putting something of interest on the table. Whether it is a great article that you find useful or sharing some of your knowledge in a short video tutorial or webinar, your followers will be more engaged. Blogs are another great way to connect with potential customers, plus they may share your posts on their social media channels enhancing your presence in the market.

3)   Don’t go “all-in” without testing first: testing and experimenting your marketing strategies can save you money.

Try to find areas where you won’t appear as a novice or where other new competitors are weak, so that you can study ways to overcome challenges in the future and gain some experience in the market. You can study what your competitors are up to and learn from their mistakes as well as from your own.

4)   Have a good and solid online presence: Invest in a professional looking website; one that provides potential customers and clients with all of the information they need about your product or service.

Most people look up for information on the Internet, so your website is most likely the first impression you make on the customer. Studies show that up to 81% of potential customers will research products and services online before they decide to pay a visit to your store or office. So ramp up your website, make it user-friendly, and make sure your site looks great on mobile devices as well.

Let the experts at the YB2C help you manage your marketing activities more effectively and efficiently. Visit our contact page here. We would love to discuss marketing possibilities with you.

What are you doing to “prime the pump” with your online and offline marketing efforts? Let us know in the comments.

Posted by Ivan  |  0 Comment  |  in Freelance Business, freelancing, ideas, marketing

Your Freelance Budget Pt. 2: Pay Yourself a Real Salary

Ah, the life of a freelancer…sleep until noon, work in your pjs, play golf in the afternoon, work a few hours a day…everything’s just wonderful! Uh, no. If you are a freelancer AND you consider yourself in business, you know that just about the only thing that is certain is that your income is not certain. After successfully managing your client load, the other most important thing you can do for your freelance business is to successfully manage your finances.


I’m paid via PayPal and Square and by business checks that come through the mail and ACH to be deposited into my business bank account. Except for my monthly retainer clients, my paid invoices are received all different times during the month. That makes managing my finances complex, to say the least. Taking care of such sporadic and erratic income streams can often be so overwhelming, you almost want to go back and get a regular job. Almost. Instead of getting a “regular job,” pay yourself a “regular paycheck.”

In Part One of this series on “The Six Ways to Set Up Your Freelance Business Budget,” we discussed how to create a regular income for yourself. Expanding on that concept and those activities, you will put all of your freelance income into one main savings account, wherever it comes from. You then move from this account into your primary business checking account from which you will make all of your payments, including paying your salary.

Well, what should your salary be, and how often should you pay yourself? There are many variable and variations in the answers to those questions, and it all depends on your needs and your projections. Notice that I did not say that your salary amount depends on how much your clients pay you. You should decide on your salary, your other expenses, your savings, and your tax obligations, and then ensure that your income is sufficient to meet all of those goals. Basing your salary on those targets is much more “business-like” than paying yourself with whatever’s left over after you get paid and pay everyone else.

In the next installment of this series, we’ll deal more specifically with how to help your freelance business become profitable.

Let the experts at the YB2C help you manage your company more effectively and efficiently. Visit our contact page here. We would love to discuss the possibilities with you.

Posted by Pamela Hilliard Owens  |  0 Comment  |  in Freelance Business, freelancing, ideas