zz Best States to Incorporate a Business

 Incorporating a business is a smart way to reduce individual liability by creating a separate business entity. There are three types of incorporations: S-corp, C-corp, or an LLC. Each one of these options has its own set of benefits and drawbacks. Once you’ve decided on the structure that most benefits your organization, you still have to decide where to incorporate your business.

Incorporation laws are state-level legislation, which means that each state can make its own laws about the requirements, fees, and tax responsibilities for businesses incorporated within that state. Your experience will vary depending on the state you choose to incorporate in.

You don't have to incorporate your business in the state you live or work in; the state you incorporate in is completely up to you. If your business only does business in its home state–– think in terms of a brick and mortar store with only face-to-face business, a restaurant, a landscaping company with a service area only located in one state, etc.––it is generally best to register in that state. But in some cases, it might be worth it to register in another state, especially for online businesses or those that do business in more than one state.

Incorporating your business creates a separate business entity from you or your partners. Even though there are costs associated with incorporating outside of your home state, if the other factors are favorable to your business, you might make out better in the end.

Whether you are considering incorporating in your own state or looking at your options for other states, there are a number of factors that are going to determine whether you have a smooth or bumpy ride. The best state to incorporate in is determined by the formation fees, annual filing fees, taxes, and legal structure. We’ll go through each one of these paying special attention to which states rank high for each category and which ones bring up the rear.

Formation Fees

• Best States for Formation Fees: Arkansas, Colorado, Hawaii, Iowa, and Mississippi
• Worst States for Formation Fees: Connecticut, Texas, and Massachusetts

Let’s start with the first costs associated with incorporating a business: the formation fees. These are the one-time fees you pay to the state when you apply to incorporate your business there. Filing fees vary by state and you can find the most current requirements on each state’s Secretary of State website. Keep in mind that these are in addition to any fees your lawyer or facilitator may charge to prepare and file your paperwork.

How much the formation fees factor in your decision to incorporate in a state depends on how much the start-up costs matter to you. If you’re counting every penny during startup, the formation fee may be a very big deal. But, it’s also only a one-time fee, so the long-term effects on your bottom line are minimal. In most cases, formation fees are less of a factor than filing fees.

Formation fees can range from $50 to $455. The states with the lowest formation fees are Arkansas, Colorado, Hawaii, Iowa, and Mississippi. The ones with the highest fees are Connecticut at $455, Texas at $310, and Massachusetts at $295.

Annual Filing Fees

• Best States for Annual Filing Fees: Alabama and Ohio
• Worst States for Annual Filing Fees: Nevada, District of Columbia, and Maryland

The formation fees are just the beginning of costs required to incorporate your business. Each year you will also be required to file a one-page report with a filing fee, which will vary depending on the state. (In some states, it’s actually required every two years and is therefore called a biennial report.) This report is to keep the state informed about any changes in your business, including the principal address, authorized signatories, and the number of stocks issued by the business.

Currently, the only states that don’t require regular filings are Alabama and Ohio. Over the course of the life of your business, you can save a lot in terms of money and time from not having this yearly obligation. On the other end of the spectrum, Nevada has the highest annual filing fee, topping out at $325. The District of Columbia has a $300 fee. Maryland’s filing fee is based on business income but the minimum is $300.

Taxes

• Best States For Corporate Taxes: Nevada, Wyoming, and South Dakota
• Worst States for Corporate Taxes: District of Columbia, New Jersey, California, Minnesota, and Rhode Island

Taxes are a huge factor in determining the best state to incorporate in. The less you pay in taxes, the more your business can keep for running costs and profit. There are three types of taxes to consider—state income taxes, corporation taxes, and franchise taxes. State income taxes affect businesses in S-corp structure because the owners pay taxes based on their distributive share of ownership through their personal income taxes. Corporation taxes are levied on C-corp. LLCs might be affected by either type of taxes. Franchise taxes are for the privilege of operating and existing within a state that recognizes these types of taxes.

Nevada, Wyoming, and South Dakota all rank high for best tax laws because they do not have state income tax or corporate taxes. However, keep in mind that this only works for businesses that operate within those states. While you might incorporate there, if you operate your business in another state you will still be subject to that state’s tax laws. On the other hand, the District of Columbia has some of the highest personal and corporate income taxes in the country. New Jersey, California, Minnesota, and Rhode Island are not far behind.

The main difference between franchise tax and income tax is that franchise tax is not based on money earned by the business. Depending on the state, it might be based on a business’ net worth, gross receipts, or even margins. There are also generally minimum tax owed regardless of the factors your state uses in calculations. So, your business could possibly lose money but you would still owe a hefty franchise tax. Currently, there are fifteen states that still have franchise tax laws on the books, including New York, Mississippi, and Georgia.

Legal System

• Best Legal System for Corporations: Delaware, Nevada, and Wyoming
• Worst Legal System for Corporations: Mississippi and New Mexico

The corporate laws in a state can affect the experience of owning a business there. Delaware, for example, is known for having the best business laws in the country. The state has a Court of Chancery, which hears corporate case laws instead of a jury of citizens. This is completely unique to Delaware. Corporate cases are handled more quickly and more efficiently there. You will be dealing with a court that is only handling business manners instead of waiting for your case to be seen on a general docket. You will also be in courtrooms with judges who are well-versed in business law and procedures. The result is that legal costs can be much lower in Delaware than in a state with less business-friendly laws.

Since Delaware has become known as the most corporate-friendly state in the country, it has become one of the most desirable states to incorporate in. In fact, the Delaware Division of Corporations claims to be home to 66 percent of the country’s Fortune 500 companies. Many serial investors will insist that a business is incorporated there before cutting you a check. The reason is that the overall risk is much less where the business laws are predictable and favorable.

Delaware has some competition, though. Both Nevada and, more recently, Wyoming are becoming well known for the same legal benefits for corporations. On the opposite side of the fence are those states that aren’t quite as business-friendly in their legal structure. According to a 2017 CNBC roundup of best and worst states for businesses, New Mexico and Mississippi both ranked very low on the list for business friendliness.

The Bottom Line

These factors can all have long-term effects on the success of your business so it is important to at least consider them when making the decision on where to incorporate. But ultimately, the best state to incorporate in depends on where your priorities lie. If you are courting investors or considering your legal options, the legal structure is the most important factor. Or maybe you’re forming an S-corp and so personal income taxes will make a huge difference in your yearly expenses. Are you worried about the potential costs associated with yearly obligations of filing in a certain state? Then the annual reports and filing fees will be your priority.

No matter what your perspective might be, do your due diligence on the state you are considering for your corporation. The first place to check is the state's individual Secretary of State website for your rights and responsibilities under current legislation. There you will be able to get the information straight from the horse’s mouth. You will also find answers to frequently asked questions and contact information for getting more in-depth answers. And as always, it’s a good idea to get the advice of a legal representative who can give you professional advice and guide you in making the right decisions for your business. 

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Is it Easy to Start a Profitable In Home Day Care? Not Quite…

Thinking about opening a child care business in your home?  You are not alone.  Each year thousands of hopeful business owners decide to open a day care facility in their home.  It seems easy enough right?
Actually, it isn’t quite as easy as it sounds.
In fact it is very difficult to build a profitable in-home day care businesses.  There are 2 key reasons why the in home day care business model is difficult:

1. Capacity Constraints – Typically the state will determine the number of children that can be cared for in one home based daycare.  As an example in Kansas the maximum is 12 children under the age of 16 per home.  This limits the revenue potential for the home.  It is kind of like getting into the home rental business.  You are not going to get rich renting out one home because you can only charge so much for rent.  You would need many rental properties all producing a small profit to reach a sustainable and profitable level.  Likewise you will likely need multiple home day cares to really make the finances work well for you.
2. High Startup Costs – Because you will need to meet a long list of requirements set by your state (Example here), you will likely incur $10,000 or much more in startup costs to prepare a home to be compliant.  A few examples of startups costs include:
   1. Fire Extinguisher
   2. Toys indoor and outdoor
   3. Fence
   4. Bathrooms appropriate for children
   5. Office for reports and paperwork
   6. Plans, policies, and procedures
   7. Separate rooms for different age groups

The list can go on and on.

Financial Model Example for Home Day Care

So now I want to create a template that you can use to create your own financial projections for your in home day care.  I will publish the Excel template at the bottom of this post, but I am also going to show you screenshots on how to use our web app, ProjectionHub, to create your day care projections.

Sales Projections

Once you sign up for an account with ProjectionHub the first step is creating your sales projections.  In all likelihood you will be paid by the hour.
Hourly rates – for child care can vary drastically depending on your location, programming, experience, and most importantly the age of the children you are watching.  You can bill more per hour for an infant typically because infants require more caregivers per child.  Care.com has an excellent babysitting rates calculator that will estimate how much you can charge for care in your location.
Maximum revenue – Once you know an average hourly rate you will charge, the maximum number of children you can watch at any given time, and the number of hours you will be open each month, you can calculate your maximum monthly revenue.  This will be helpful because it gives you a quick dose of reality to determine whether this is worth your time.  As an example let’s say you are going to charge $7 per hour for a maximum of 12 children, for a maximum of 200 hours per month.  Maximum Total Revenue = $16,800/month
Now that we have some ball park numbers, let’s enter some actual sales projections into ProjectionHub:

So here is what I assumed to come up with these sales projection entries:

• There is a maximum of 3 infants because the typical child to caregiver ratio for infants is 3 to 1.
• The hourly rate for infants is $8
• The maximum number of billable hours per month for 3 infants is 600
• I started the projections in month 1 assuming a 50% utilization rate, so 300 billable hours
• I assumed a monthly growth rate of 3% for the first year
• For year 2 and 3 I kept sales at 500 billable hours per month

Assumptions for non-infants

• Up to 9 children
• Hourly rate is $6
• Maximum number of billable hours per month for 9 children is 1800
• I started the projections in month 1 assuming 1,000 billable hours
• I assumed a monthly growth rate of 4% for the first year
• For year 2 and 3 I kept sales at 1,500 billable hours per month

Cost of Goods Sold for a Day Care

Next you will need to enter estimated cost of goods sold for a day care.  Technically your labor costs and food costs should probably be considered cost of goods sold, but the problem is that we structured the sales projections by the billable hour.  So if we try to enter in wages and food costs in by the billable hour, I think we are going to have some difficulties, so I am leaving COGS blank.
Salaries
In this case your primary labor cost is for caregivers.  In our example we are assuming only 3 infants which means you will need 1 person caregiver at a time.  Let’s assume we pay the infant caregiver $12 per hour.  So we assume you will have to have this person 10 hours per day, 5 days a week, 4 weeks a month for a total monthly cost of $2,400 (Annually $28,800) plus employer taxes of approximately 10%.
Next for the non-infants we will assume that you pay $11 per hour for a annual cost of $26,400 plus 10% for taxes.  We will assume you will need 2 of these employees.

General Expenses for a Day Care

Next we need to add some general monthly expenses for a day care.  Here are expenses that I added:

• Accounting/Bookkeeping – $100/mo
• Insurance – $30/mo
• Maintenance – $50/mo
• Supplies – $30/mo
• Phone – $50/mo
• Utilities – $150/mo
• Food – $400/mo
• Rent – $700/mo  (you will likely pay rent or have a mortgage on the home)

Startup Costs for a Day Care

I would expect that you would want to have $20,000 in cash to start an in home day care.  $10,000 to pay your first few weeks of payroll and other expenses while  you wait to get paid from customers/government funding programs.  Then I expect the following startups costs:

• $1,000 in inventory
• $5,000 in renovations to your house to earn license
• $1,000 for equipment and toys
• $3,000 for furniture like cribs, tables and chairs

The total startup costs including the cash reserve is $20,000 so lets assume you are going to borrow $20,000 from the bank at 7% for 36 months.
We have now finished your projections, so let’s check out your results.


As you can see the first year is just marginally profitable, with a projected net income of $13,683.  This is your take home in the first year.  In years 2 and 3 we projected a fairly aggressive occupancy rate, and the net income increases to just under $50,000 per year.
So now the question is whether it is worth it to you?  You can see that if everything goes right you can expect just under $50,000 in net income per year and free cash flow of closer to $40,000.  Then you have to pay taxes on the net income and by the time it is all said and done you have to consider that you are going to have up to 12 kids in your house for 10 hours per day, 5 days per week.  Is being able to take home about $40,000 per year worth it?  You might decide that you can go get a job that is less stressful and produces the same amount of income.
No matter what you decide, it is important to know the facts and know your earning potential before you take the risk and make the investment to start an in home day care.  Good luck!
You can download the completed Da

到美国内华达州(Nevada)注册公司有啥好处?

世界企业家网站(bossline.com)提醒：内华达（Nevada）是公司最受保护的一个州。 其公司法吸引了许多美国公司和外国公司去当地注册,因为它有力地保护公司老板。 目前,在内华达注册的公司数仅次于德拉瓦州注册的公司数,在美国位于第二位。 一般来说,去该州注册公司有以下几个原因。

一是该州不征收州的公司和特许权税,仅收少额的年度维持费。 而且,该州没有个人所得税。 二是该州是美国两个不与国税局交换信息的州之一,另一个州是德州。 它与国税局没有交换协议。 国税局从该州不能获得公司的税务信息。 三是公司和所有人分开责任。 在内华达州,公司受到保护,其所有人、管理人员和董事也受到强力的分开责任保护。

在内华达注册公司的最大好处是：公司的面纱（corporation veil）很难刺破。 何谓公司的面纱？公司面纱刺破就是公司没有按照公司法运作时,导致法律诉讼,最后公司所有人承担债务。 也就是公司股东对公司的财产和债务应当承担债务责任。 假如债权人可以指证公司不遵守公司章程,让法院判定所有人和董事将承担公司的债务,即面纱被刺破。 在过去 26 年,内华达公司的面纱仅被戳破两次,而这两类案件都涉及到重大欺诈。

尽管公司存在非法活动,但公司的管理人员和董事个人都会受到相当的保护。 内华达的公司法允许保护所有的管理人员、董事、雇员、股东、公司代理的所有活动,只要他们以公司的名誉进行,并且他们有理由相信这是合法的活动。

内华达州法律对所有的公司的董事和管理人员均有一个有限责任的保护。 因此,内华达被认为对董事和管理人员最为友好。 例如,该州公司法保护管理人员不对公司损失负金钱责任。 在内华达,向公司董事发放多少福利也属于保密的范围。 假如你的公司出现官司,原告提出的赔偿要求超过公司和你个人财产的范围,你可以选择在内华达应诉。 在内华达,你就相对不用担心了,因为你不大可能须要承担这个债务。 但是,假如你在其它州注册,你很可能承担个人责任,即你的公司面纱就会被戳破。

由于内华达州取消公司联合债务,你在内华达不用担心与股东的联合债务责任。 责任分摊的裁决是,每人只对他或她自己导致的损失负责。 这样,假如你没有做错事,你赢的机会很大。 假如你个人被起诉,你在内华达公司将不会因为你要偿还债务而被迫解散。

在内华达,你仅需要一个合法的目的就可以注册一个公司（corporation）或有限责任公司（limited liabil-ity corporation）。 目前,美国有 14 个州对注册有限责任公司（ LLC）要求具有商业目的。 这些州是加州、印第安那、爱阿华、路易士安纳、马里兰、密西根、明尼苏达、纽约、北达科他、俄勒冈、宾州、罗德岛、德州和维吉尼亚。 否则,有限责任公司不能防止债权人讨债而保护公司的财产。

因为内华达没有州税,许多跨国跨州公司去内华达成立。 为了达到省税目的,公司一般使用以下名称,如智力控股公司（intellectual holding company）、管理公司、租赁公司（leasing company）、帐户代理（account factoring）和独立合约者。

是否要在内华达注册公司的主要考量是,你的公司在那是否有关联和真实存在。 税务局用下面的标准衡量与该州的关联：有无办公室、物流中心、仓库、雇员或者独立合约者；在该州仍从事某种活动。 有人会问世界企业家网站(bossline.com)：德拉瓦和内华达两个州都是避税天堂,对公司非常友好。 那么究竟去哪个州注册公司最好呢？因此,我们需要进行比较。

德拉瓦长期以来一直是美国许多工业的基地。 因此,德拉瓦州的官僚作风少,在德拉瓦注册公司比较方便简单便宜。 但是,内华达没有公司、特许权和个人收入税。 内华达在这几个税收上占据优势。 内华达对管理人员、董事、和股份东提供法律保护,比德拉瓦州相对更高。 内华达没有与国税局分享税务信息,而德拉瓦与国税局签订分享协议。 但是,在内华达注册公司可能会产生问题,因为国税局对内华达公司查帐比其它州的公司机率要高。

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三种途径解决Amazon的收款银行账户,望君商棋

一、在概述篇里说到三种途径解决Amazon的收款银行账户。 1.自己亲友在美国的银行工作。找亲友帮忙偷偷办理。 2.找各种国内国外的代办的人，办理个人银行账户或美国公司银行账户。好的美国银行账户一般是BOA银行、摩根大通chase银行、华美银行………..BOA比较容易封银行账户。 3.自己网上申请： payoneer卡（人人可以网上申请邮寄到中国，ATM机取款，满2万美元可以申请电汇到中国的银行）、 netspend卡（www.netspend.com需要美国地址、电话等再转寄到中国，需要经常打电话去解除限制）、 world first虚拟账户（需要大陆或香港公司去申请，钱电汇到中国或香港。可以谷歌搜索他们网站）等等。 二、补充： 1.找人代办 美国个人银行卡（代办人收费3千---7千多元不等）， 2.找人办 美国公司+税号+公司银行账户（6千--1万2不等）， 3.自己使用大陆公司办worldfirst虚拟银行账户---免费（谷歌搜索worldfirst，群共享也有申请表）， 4.自己办payoneer卡，也叫P卡（注册P卡地址：http://share.payoneer-affiliates.com/a/clk/4f0Ns6 群主2013年刚刚申请的推荐注册地址，当你收款满100美元后，你和我会各自获赠25美元）。 Payoneer卡所有问题解答论坛： http://www.mghost.cn/forum-81-1.html 以上world first和payoneer的取款手续费贵一些，但是办卡免费，找人代办的银行卡要花3千---1万2，取款手续费少一些，正规大银行的卡。 三、银行卡风险 1. 一般而言，美国的银行账户个人卡里面钱比较多，卡又在中国电汇转账或ATM取款频繁的话，美国银行会报告给FBI和美国国税局IRS，任何你的银行账户会冻结，直到你找人或自己去美国银行解释，提供证据证明你的收入的合法来源，才能解除资金的冻结。 2. 美国公司的公司银行账户，相对个人银行账户来说，更加安全，可靠，何况有会计做帐报税，报税可以报0费用，或做帐报少一点。但是也一样可能被美国政府怀疑有洗钱行为而冻结你的银行资金，这时候需要帮你办卡或办美国公司的代办人帮忙去解封，一般没人免费帮忙去解封的。 所以没有绝对安全的银行账户、银行卡。 本人曾经通过美国的朋友帮别人免费办理过11个美国富国银行的公司账户，但是现在不能办理了，美国的朋友辞职换工作了，现在有别的关系可以办理美国公司+公司的银行账户+公司的税号EIN，但是美国朋友在纽约，这里的费用稍微高一些，别的州的公司也可以办，但是要麻烦一些而已，需要的朋友可以问我，我把这位纽约的朋友联系方式给大家（收费的，比别人的1.1万，1.2万少好几千元。），大家自己找他，或晚上给我打电话问问题，我没时间答复，他也没多少时间答复。以后我也许会找到更多的注册美国公司的途径。还是那句老话，可以不要公司做Amazon，但是有人觉得有美国公司才可靠，才安全。 本人打算2013年4月底开始，也和美国密歇根州chase银行的banker、在美国密歇根州的朋友一起开展美国的个人银行卡代办业务，深圳辛巴达办摩根大通chase银行卡收费6000人民币，其他代办也差不多，我们打算收3500—4000元。这个价格主要是给银行、美国朋友、和我三人的。以前我免费帮别人办过一些富国银行账户，现在要适当收费了，免费的事做了好几年，现在无法在免费哟。每个月只能办理3—5个银行账户，多了不办，做仿货的人不给办，只办摩根大通chase的银行账户。有变化会以后慢慢更新（2013年4月13日）。 World first 申请资料： 全球销售卖家海外银行账号申请指导手册 Instructionfor Global Selling Seller Apply Oversea Bank Account 使用说明： 1、 本手册包含三个模板 1) 身份证翻译模板；2) 营业执照翻译模板；3) 信用卡账单翻译模板 。 2、 身份证翻译请根据真实信息填写模板。(该部分请参考 模板1) 3、 营业执照翻译 需要中英文对照，请根据真实信息填写模板。(该部分请参考 模板2) 4、 信用卡账单需提供最近3个月的账单。姓名、地址需要翻译成英文。(该部分请参考 模板3) 5、 重要：三个模板中所出现的姓名应保持一致（即身份证、营业执照法人、信用卡账单中的姓名需要一致）。 6、 所有资料的真实性由卖家负责。申请速度取决于资料的真实性及完整性。 7、 本手册仅供卖家通过 World First 申请海外银行账号参考使用，具体条款请以 World First 为准。 申请流程： 1、 点击下载账号申请表 并填写(您需要安装AdobeAcrobat Reader)； 2、 将1) 账号申请表 2) 身份证翻译 3) 营业执照翻译 4) 信用卡账单翻译 打印、扫描后，连同5) 营业执照原件扫描件、6)信用卡账单扫描件，一同发送到 accountopening@worldfirst.com进行账号申请； 3、 邮件标题请遵照如下格式： Apply US Bank Account forAmazon Global Selling Business - Beijing ABC Jewelry Co., Ltd(申请美国账号请用该标题，下划线部分自己公司名称替换)； Apply UK Bank Account forAmazon Global Selling Business - Beijing ABC Jewelry Co., Ltd(申请英国账号请用该标题，下划线部分自己公司名称替换)； 同时申请两个国家的银行账号请使用 ApplyUS & UK Bank Accountfor Amazon Global Selling Business - Beijing ABC Jewelry Co., Ltd 4、 World First 相关资讯请访问其链接 World First； 5、 账号申请免费，提款费用信息请访问WorldFirst网站查看 费用信息； 6、 点击下载AdobeAcrobat Reader 。 发送文件检查清单： 1、 账号申请表(下载填写打印)； 2、 模板1、模板2、模板3； 3、 营业执照副本； 4、 信用卡账单(最近3个月账单，只需要账单第一页有姓名、地址、还款金额那页) 以上文件打印、扫描后，一同发送到账号申请邮箱。相应信息参见操作流程。 备注：该页不需要提供给World First, 供卖家参考使用。 模板1 身份证翻译 Template 1 ID Card Translation 第一部分 Part1Copy of ID Card (请插入申请人身份证正反面扫描件) 身份证扫描件 第二部分Part 2 ID Card Information (填写身份证英文信息) Pin Yin Name Wang Xiaodong 国籍Nationality Chinese 性别Sex Male 生日DOB Apr. 20, 2019 颁发日Issue Date Apr. 21, 1999 证件号ID card # 650000199911110015 有效期 Valid Period Apr. 21, 1999 - Apr. 20, 2019 or Permanent(永久有效) 地址Address RM 3, BLD 4, ABC Rd., CD City, Beijing, China 模板2 企业法人营业执照翻译 Template 2 Translation ofBUSINESS LICENSE OF THE ENTERPRISE LEGAL PERSON (备注：中文内容按照营业执照实际内容填写，英文翻译按照中文内容正确翻译) 1. 副本（副本号：1-1） a. (the Copy) (No.: 1-1) 2. 注册号：442000200XXXX b. Registration Number: 442000200XXXX 3. 名称：中山市ABC设备有限公司 c. Name of Enterprise: Zhongshan City ABC Equipment Co., LTD 4. 住所：中山市某某工业区 d. Address: No. 000, ABCRd., DEF District, HIG City,Guangdong Province, China 5. 法定代表人姓名：张某某 e. Legal Representative: Mr. Abc Zhang 6. 注册资本：人民币壹佰万元 f. Registered Capital: CNY 1,000,000.00 7. 实收资本：人民币壹佰万元 g. Paid-up Capital: CNY 1,000,000.00 8. 公司类型：有限责任公司 h. Type of Enterprise: Limited Liability Company 9. 经营范围：生产、销售：某某设备 i. Business Scope: Manufacture and sell the ABC DEF HIG., etc. (备注：经营范围请填写您公司营业执照上所列项目中的主营业务，例如经营电脑产品的销售等，不需要全部写上) 10. 营业期限自： 年 月 日至 年 月 日 j. Term of Operation: September 3rd,2001 Till September3rd, 2011 11. 成立日期：二零零一年九月三日 k. Date of Establishment: September 3rd, 2001 12. (条形码) 编号：140007XXXX (备注：有些城市的营业执照没有条形码，删除括号内的条形码即可) l. (Bar Code)Number: 14000.7XXXX 13.年度检验情况 m. Record of Annual Inspection 14. 年度检验日期：2011年5月20日 n. Yearly Inspection Date: May 20th,2011(备注：年度检验日期请填写最近一次检验日期即可) 15. 登记机关：ABC市工商行政管理局 o. Registration Institute: Industry andCommerce Administration Bureau of ABC City 模板3 信用卡账单翻译 Template 3 Translationof Credit Card Bill 项目 Item 内容 Content 姓名(拼音) Pin Yin Name Wang Xiaodong 地址 Address RM 3, BLD 4, ABC Rd., CD City, Beijing, China 账单周期 Billing Period January 2012 – March 2012 (备注：请提供最近三个月的账单，账单只需要首页即可) 账单金额明细BillingAmount Breakdown: Month Amount (In RMB) January 2012 RMB 3459.00 February 2012 RMB 4589.00 March 2012 RMB 4859.00 (备注：账单金额明细请与实际账单金额保持一致。) 附件： 1、 营业执照副本扫描件； 2、 信用卡账单扫描件； -END-

CONGRATULATIONS TO JACK SHENG!

As of today, the green shooting star above will only look familiar to a few individuals around the world… it represents a Feedback score of 500,000. The “Sweating Star” (as I like to call it) on the right is familiar to only one person, Jack Sheng, as it represents a Feedback score of 1,000,000 (something he has achieved not once, not twice, but four times!). I guess the “sweat” represents how hard it is to accomplish such an amazing feat. The stars will be unveiled at the San Jose campuses today when the company welcomes Jack to our offices to celebrate in his remarkable achievement.

The following was posted on the eBay internal blog and it tells a pretty incredible story of hard work, entrepreneurship and perseverance…

IT ALL STARTED ABOUT EIGHT YEARS AGO IN A GARAGE IN ARCADIA, CALIF., WHERE JACK SHENG AND HIS TWO BEST FRIENDS, ALVIN AND EUGENE, DECIDED TO TEST THE E-COMMERCE WATERS BY SELLING ELECTRONICS ACCESSORIES ON EBAY.THE THREE 25 YEAR OLDS, WHO HAD KNOWN EACH OTHER SINCE THEY WERE 12, ALL HAD FULL-TIME JOBS. THEY THOUGHT THEY MIGHT BE ABLE TO BRING IN SOME EXTRA MONEY BY RESELLING GOODS ON EBAY, SO THEY GAVE IT A SHOT.

THEY STARTED WITH A $500 INVESTMENT IN CELL PHONE AND ELECTRONICS ACCESSORIES, WHICH THEY BEGAN SELLING RIGHT AWAY. BEFORE THEY KNEW IT, THEY WERE SELLING 200-300 ITEMS PER DAY AND HAD HIRED A FEW FRIENDS FROM THEIR CHURCH TO HELP PACKAGE AND SHIP THE ITEMS. EFORCITY, AS THE COMPANY WAS CALLED, FOCUSED ON SELLING SMALL, LOWER-PRICED ITEMS LIKE CELL PHONE, CAMERA AND ELECTRONICS ACCESSORIES, WHICH KEPT COSTS AND THE NEED FOR SPACE TO A MINIMUM. STILL, IN LESS THAN A YEAR THEY HAD TO RENT AN OFFICE TO KEEP UP WITH DEMAND.

IN 2002, THE TRIO ATTENDED EBAY’S E-COMMERCE FORUM, WHERE THEY MET FORMER EBAY CEO MEG WHITMAN, EBAY FOUNDER PIERRE OMIDYAR AND SEVERAL OF EBAY’S TOP SELLERS. THEY NETWORKED, SHARED KEY LEARNINGS AND ASKED QUESTIONS OF THE OTHER SELLERS. THEY QUICKLY RECOGNIZED THAT THEY ALREADY HAD MORE FEEDBACK STARS THAN ANY OF THE OTHER SELLERS (50,000 AND COUNTING!). MORE IMPORTANTLY, HOWEVER, THEY REALIZED THAT THE OPPORTUNITY TO GROW EFORCITY WAS ALMOST LIMITLESS, AS LONG AS THEY COULD CONTINUE TO FIND WAYS TO PROVIDE ADDITIONAL VALUE FOR THEIR CUSTOMERS.

EFORCITY: THE 90TH FASTEST-GROWING COMPANY IN THE U.S.
IT WAS AROUND THIS TIME THAT JACK, ALVIN AND EUGENE DECIDED TO LEAVE THEIR FULL-TIME JOBS AND DEDICATE THEMSELVES COMPLETELY TO EFORCITY. THEY DRAFTED A BUSINESS PLAN, MOVED INTO A BIGGER OFFICE AND BEGAN LOOKING FOR WAYS TO ADD VALUE TO THEIR PRODUCTS. JACK STARTING KNOCKING ON THE DOORS OF MANUFACTURERS IN CHINA, IN HOPES OF SETTING UP DIRECT RELATIONSHIPS WITH THE MAKERS OF THE PRODUCTS THEY SOLD. WHILE IT WAS TOUGH AT FIRST (THE MANUFACTURERS ONLY WANTED TO DEAL WITH WELL-KNOWN DISTRIBUTION COMPANIES), JACK WAS ABLE TO SHOW THEM THAT HE HAD A THRIVING EBAY BUSINESS AND HE WAS WORTH DOING BUSINESS WITH.

TODAY, JACK AND HIS PARTNERS HAVE ESTABLISHED DIRECT RELATIONSHIPS WITH MORE THAN 100 MANUFACTURERS IN CHINA, AND IN MANY CASES THEY HELP INFLUENCE THE DESIGN OF THE PRODUCTS THEY SELL BASED ON CUSTOMER FEEDBACK RECEIVED THROUGH EBAY. EFORCITY NOW OFFERS A WIDE SELECTION OF CELL PHONE, MP3, PRINTER, DIGITAL CAMERA, PDA, HDTV (HDMI CABLE), AND BLUETOOTH ACCESSORIES.

IN 2006, INC. MAGAZINE NAMED EFORCITY CORP. THE 90TH FASTEST-GROWING COMPANY IN THE UNITED STATES ON THE FAMOUS “INC. 500” LIST. TODAY, EFORCITY IS ONE OF THE LARGEST EBAY RETAILERS FOR HIGH TECH GADGETS, GROSSING MORE THAN $40 MILLION IN ANNUAL REVENUE. THE COMPANY HAS ALMOST 200 EMPLOYEES WORKING AROUND THE CLOCK AND AROUND THE WORLD, SHIPPING 25,000 – 30,000 ORDERS PER DAY.

“IN JUST EIGHT SHORT YEARS WE HAVE BEEN ABLE TO GROW OUR BUSINESS FROM A MERE IDEA INTO A REALITY THAT FAR EXCEEDS OUR ORIGINAL EXPECTATIONS OF SUCCESS,” SAID JACK.

LISTENING TO YOUR CUSTOMER
HE CREDITS MUCH OF THIS SUCCESS TO THE DEDICATION HE AND HIS PARTNERS HAVE TO PROVIDING A GOOD CUSTOMER EXPERIENCE. BEING ABLE TO COLLECT FEEDBACK AND ACT ON IT IN REAL TIME, HE EXPLAINS, HAS ALLOWED EFORCITY TO EVOLVE ACCORDING TO CUSTOMER NEEDS AND STAY ONE STEP AHEAD OF THE COMPETITION.

“EVERY SMALL-BUSINESS OWNER SHOULD DEVELOP A SYSTEM FOR COLLECTING FEEDBACK FROM THEIR CLIENTS,” HE ADDS. “IT CAN MEAN THE DIFFERENCE BETWEEN A $3 MILLION BUSINESS AND A $30 MILLION BUSINESS.”

HE ALSO ATTRIBUTES HIS SUCCESS TO A GREAT PARTNERSHIP WITH EBAY. “WE’VE LEARNED SO MUCH BY WORKING CLOSELY WITH THE INTERNAL TEAMS AT EBAY. EBAY EMPLOYEES SHOULD BE PROUD OF THE POSITIVE IMPACT THEY HAVE ON PEOPLE’S LIVES.”

WHEN ASKED HOW HE WOULD ADVISE OTHER EBAY SELLERS AND ENTREPRENEURS LOOKING FOR SUCCESS, JACK ENCOURAGED BUSINESS OWNERS TO GET OBJECTIVE FEEDBACK ON THEIR IDEAS FROM OTHERS.

“ONE OF THE TOUGHEST PARTS OF BEING AN ENTREPRENEUR IS THAT THERE’S NO ONE TO BOUNCE IDEAS OFF OF AND GIVE YOU FEEDBACK. HAVING THREE PARTNERS HAS BEEN CRITICAL TO OUR SUCCESS – THERE’S NEVER AN EVEN SPLIT ON DECISIONS SO IT’S EASY FOR US TO DECIDE ON THE PATH TO TAKE. IF YOU DON’T HAVE A PARTNER, SEEK OUTSIDE COUNSEL. TRY TO SELF-EVALUATE AS MUCH AS POSSIBLE AND ASK OTHERS TO GIVE YOU FEEDBACK ON YOUR PLANS AND TOUGH DECISIONS. IT WILL GREATLY IMPROVE YOUR SUCCESS.”

JACK IS LOOKING FORWARD TO CONTINUED GROWTH OF THE BUSINESS. HE NOTES THAT WHILE MANY BUSINESSES SEE SLOWED GROWTH DURING AN ECONOMIC SLOWDOWN, IN HIS EXPERIENCE, EBAY SELLERS ALWAYS FARE BETTER. PEOPLE COME TO EBAY FOR DEALS, HE NOTES, MAKING IT A GREAT PLACE TO SHOP WHEN BUDGETS ARE TIGHT.

I realize Jack’s schedule will be pretty tight when he pays a visit to our campus later today but it would be great to get the opportunity to shake his hand and congratulate him on a truly amazing achievement.

Cheers,
RBH

JOHN AND JACK

JACK SEES STARS