Don’t get pimped out for 50 cents

Recently a tape conversation between Young Buck and 50 cents has hit the internet.



In the tape Young Buck was crying to 50 cent about his cash flow problems.





This is just to show ya playas the importance of getting your money in order and it’s you that’s got to in control all you’ll be the one getting pimped out.



Here’s Young Buck, a man who sold millions and he is having money problems. Why?



1. He waited around instead working
2. He didn’t handle his bank, instead of paying his tax he lived a 3. life style he couldn’t afford
4. he seems to have taken a lone (with 50) that he couldn’t pay back.




Truth be told many people are in a similar sititution. No these fools don’t owe fiddy a dime but many people have taken loans (or used credit cards) they can’t pay off.



It’s an OG pimp move to get your stable owning you money and making it nearly impossible for them to get out of debt. That’s why you should know what you can pay off before your butt borrows money or uses a credit card.



If you can’t pay it off you should get what ever you need the loot for.



If you can pay it off you might be better off not getting the loan in the first place.





Also Young Buck and every other lil trick out there needs to make sure their taxes are in order. You don’t need people to handle it with crap like Quicken or you could head of to H& R block.

Some hot spots to hit up to raise the funds to launch you biz

All right so you got ya business plan up and you are ready to get your business up and running. But you only got one problem, you aint got enough dough to get it started. But if you are a true hustler then you know there are ways to raise money to bank.



A number of ways that you may raise money are:



Ask people you know for the money. Of course being able to get money this way only depends on if you know people with money and will lend it to you. If you only know cheap and/or broke mofos then this aint going to do you any good.



You can go to a bank and try to get a loan. But as a startup a bank may not be to eager to jump in with. But if you show them a tight enough business plan, you might be lucky. If you want to take the gamble you could go to the bank mortgage your house but even if the mortgage market wasn’t so bad right now that still wouldn’t be the smartest choices. Giving the both the fail rate of business and even if you do make it the success rate for business that do become profitable you risk the chance of losing you home.



As a startup one of your smartest choices that might be to look for angel, not some stripper name Angel or those with wings and halos. Naw I’m talking about Angel Investors. These are cats that invest into startup companies.



Also there are Venture Capitalist which are similar to Angel except most of them don’t give money to up-starts they look for cats that have already been in the game for some time and have a track record they can check out.

Different types of business

Before you get into the game with your business, you gots to choose the type of corporation you are going to be.



All here is the low down on the different types of business structures



Sole Proprietorship
Sole as in solo, in a sole proprietorship it’s all about you, you, you. This is for the good and for the bad.

This business is usually used when there is only one owner and in a number of cases on guy running everything.

The pluses of this type of business is that you don’t have to requestor to file under a state and you don’t have to worry about being taxed twice (which can happen with some of the other business setups.)

The negative side of this is that you can be held personally responsible if the ish hits the fan, if someone sues your company they can get your personal wealth as well as your company’s because the two are seen as one and the same.



General Partnership/Proprietorship
Pretty much the same as a Sole Proprietorship but you got partna in running the business.

Basically the same pluses and minuses as a Sole Proprietorship but with more peps to spread it out.

It’s between you and your partner(s) on how the management will be setup between ya’ll.





Limited Liability Company or L.L.C
Like the name says the owner(s) of this company liability is lower then the Proprietorships. If your business is taking to court, your business assets and not your personal assets will be on the line.

You can have as many owners/partnas in this company as you want.

You can also issue stock from your company with out being restricted to one kind of stock class.

You can retroactively change your operation agreement

Members/managers make managerial decisions.

You have to file a LLC with the state you are headquartered in



C Corporation
You have to file with a C Corp with your state

Owners have limited personal liability

You have an elected board calling the shoots on how things are run

The company has to pay it’s own taxes



S Corporation
Can only offer on type of stock

Can only have up to 100 shareholders

Can’t retroactively change operation agreement

A board of directors are the ones who make the pimp moves on how this type of company is run.









All right that is the low down, the type of structure you decide depends on what you think is best for you and your business.

Market Analysis

You know that stuff you did for your customer analysis. Do it again for your market analysis.

It’s not like they are the same thing, it just that they are really close and tied together.

Additional things you need to drop into your market analysis are:

The size of the market: so how many people are in your customer base? Don’t know find out, dummy.



Market Growth: look up the expected growth (or shrinkage) rate of your customer base as well as you and your competitors.

Trends: a dapper ass playa like yourself should be experienced on knowing the latest trends. Here is where you have to figure out what trends can affect your market and how are going to take advantage of them.