Viral marketing is a new term about to explode wide open on the world wide scene of income opportunities. Is that some sort of crystal ball profjection or magical fortune telling trick from a traveling carnival side show?

Nope, just an insight of someone taking the concept of residual income and putting it on steroids.

Let me explain what I mean by magical formula:

Here is the magic formula:

Ideal: Viral Marketing + Residual Income =

Low Risk, High Return Passive Income!!!!

Why is Viral Residual Income or Lifestyle Income timing so important?

Here are the facts:

•  More than 500,000 new businesses start every month in the United States .

•  More than 50 million+ people are currently involved in a home-based business of some sort.

Here is the big problem: 80-95% of first-time business owners fail within the first five years. How could viral residual income help these new and home-based business owners?

Would it involve longer hours? No. Less time with family? No. More gross income, with little or no profits? No. More credit card debt and stress? No.

Viral Residual Income or Lifestyle Income is an income source earned with up-front effort, followed and supported by an incredible system that will perpetuate that income. By its nature, that system becomes the key element of social networking for those home-based and Internet businesses with high quality valuable content to help the end user reach their goals through an opportunity for lifestyle income.

As Rodney Dangerfield said in the movie, “Back to School,”…”That sounds like fantasy land!” But…

Fantasy Land …or a Real Possibility?

How to develop Viral Residual Income:

Look for a company that supports the online community that’s looking to start a home-based business… one that recognizes their number one need: Quality leads. Find one that overlaps the social networking and Web 2.0 approaches in supporting this explosive community.

Here is a sample system and solution to help you develop Viral Residual Income or as I like to call it a Lifestyle Income:

Go to www.viralresidualincome.com

This is one of the best tools and resources I have seen in many years to help you accomplish the goal of creating a residual income, but even more impressive is the fact that it can help you grow that income virally.

It does almost seem magical doesn’t it? It takes the social media and viral marketing aspects of the Internet marketing community and puts an income stream into it for you to benefit from…and of course be even more motivated to virally spread the news.

Can you use this idea for your business?

That’s a brief overview for you to start brainstorming over, for an easy answer to how you can take advantage of this powerful concept visit the viral residual income link below.

Get Viral Residual Income

Why Residual Income Is Smart Money, by Marty Foley, Money Matters

MEDIA ALERT:  E-Myth Author, Michael Gerber to Help Entrepreneurs in Today’s Economy!  

 Las Vegas, NV March 3, 2008.  The economy is struggling and some consider a recession is right around the corner!  Where can entrepreneurs turn to protect their business and support their families? Scott Letourneau, CEO of Nevada Corporate Planners, Inc. based in Las Vegas, NV will team up with Michael Gerber, the E-Myth business guru, and discuss today’s woes and the state of our financial health.  Michael and Scott are joining forces to educate, enlighten and share their thoughts in these dubious times.Scott Letourneau is the founder and CEO of Nevada Corporate Planners, Inc., and author of “What is the Correct Entity to Protect Your Business and Your Assets.“  He is an authority in helping people form entities, grow their business and protect the assets of that business.  At NCP, our mission is to help companies succeed… and entrepreneurs achieve their dreams!  His Top 5% Club is highly acclaimed by business experts around the country.

In 1977, Michael Gerber built a successful seminar and coaching business teaching business owners that systems allow business owners to remove themselves from their businesses. In the years since, Michael authored 12 different books including the E-Myth.  After creating and failing in his own small business Michael created the E-Myth Worldwide to transform the lives of business owners worldwide. In the years since, his info-marketing business has conducted hundreds of seminars and coached thousands of business owners. After years of business growth, Michael sold the seminar business he created.  Michael Gerber has just released his new book entitled, “Awakening the Entrepreneur Within!” This free Top 5% Club call focuses on Michael’s info-marketing business, how it was built out of the books and speaking engagements and what any info-marketer can do to duplicate his success. Learn business insights from a 30-year veteran of the information marketing business. Michael’s aspiration is to empower business owners to gain more freedom, more money, more time, and more life.  What will be covered?

• A look inside E-Myth Worldwide and how Michael grew it from scratch.
• The promotion strategies Michael used to make his books best sellers and generate more new customers for his business, and how you can do the same.
• Systemizing your marketing for your business to deliver more results easier for your customers.
• Insights from 30 years of marketing to business owners.
• Getting out of the business, how Michael sold E-Myth Worldwide.

Call Date:     March 11, 2008 

Call Time:  6:00 PM  PST

TO ATTEND THIS EVENT, CLICK THIS LINK NOW…
http://www.nvinc.com/MichaelGerber.htm
YOU WILL NOT WANT TO MISS IT!
Contact:Cindy Richman, Executive Assistant
Nevada Corporate Planners, Inc.
888-627-7007
http://www.nvinc.com

…especially if you are a sole proprietorship! The IRS would love for you to continue as a sole proprietorship in your business, because that makes you an easy target! They know that sole proprietorships are most likely to under-report their income and over-report their business expenses. Definitely, low hanging fruit!

The IRS believes there to be a $300 BILLION tax gap — $300 BILLION in uncollected taxes — each year! The biggest culprit? Not large corporations, but small business owners. In fact, sole proprietorships are 300% more likely to get audited than someone who does not file a schedule C!

And watch out all you E-Bay users! Want to get the IRS really hot and bothered? Don’t run your business like a business. Run it like a hobby, and just watch them have their way with you!  Ignore proper accounting systems from Day 1… just “try” your new business to see if it works (all the signs of a hobby)… and see how fast those business deductions are disallowed!  

If you fall into the “hobby-business” category, don’t expect to get your IRS “love letter” notice right away. This particular valentine may take its sweet time to get to you, in the form of an audit with penalties plus a few years’ interest!  Who said love doesn’t last?

Solution: Run your business like a business.  Document all your business expenses, use QuickBooks® or some other accounting software to operate your business, and DON’T operate as a sole proprietorship! Incorporating is a much better approach.

Scott Letourneau is the CEO of NCP, Inc. and an authority in helping people form entities, grow their business, and protect the assets of that business. His Top 5% Club is highly acclaimed by business experts around the country. Visit www.nvinc.com to receive your free guide, Costly Mistakes To Avoid When Incorporating in Nevada!

For Your Estate Planner:

1. What is the difference between a will and a living trust?

2. How do I tie my company into my living trust?

3. What do I need to consider if I am in a second marriage?

4. What steps do I take to transfer my assets into my living trust?

5. What does my living trust protect me against?

6. When do I need to update my living trust?

This should get you started in the right direction.  Keep these questions in mind, and give some thought as well as to the implications for your own situation as you meet with your professionals.

I have another valuable tool for your arsenal, too.

NCP’s Corporate Coaching and Teleseminar Success Series will give you even more detailed help, providing you access to timely and relevant prerecorded teleseminars with professional in each of these areas.  Even if you haven’t yet chosen your professional team, in just a few hours’ time you’ll be up to speed on the important issues, making a wise choice that much easier.  You can also use NCP as a sounding board to test out issues and scenarios, and open up avenues and areas of thought you may not have touched on before.  (Although we can’t replace your CPA or attorney, our clients have confidently optimized their time together with those professionals, knowing they’ve covered all the bases.)

We’re a great sounding board for your success!

If you are not a current Corporate Coaching and Teleseminar Success Series client, call NCP at 1-888-627-7007 and let us tell you all about this valuable tool for your budding business.

For Your CPA:

1. How should I capitalize the company?

2. If a partner or I capitalize services, what is the result?

3. When do I start payroll?

4. What are my federal, state and local tax concerns?

5. What happens to my pre-organization expenses?

Many small businesses prefer to incorporate or form an LLC in their home state. Typically, it’s less complicated and most cost effective to incorporate in the state where you’re planning to operate your business. Unfortunately, keeping things simple and asset protection are inversely related. In many situation Delaware and Nevada do offer advantages that may be appropriate for your business. For more details go do www.nvinc.com/

If you incorporate outside your home state, you still may be required to qualify to do business in your home state. The cost of a local incorporation will usually be less than incorporating in another state, and then qualifying to do business in your home state as a “foreign” (out of state) corporation.

If you have a partner and/or business activity in more than one state, you’ll have to decide where to domicile your corporation or LLC, and again, register as a foreign corporation or LLC doing business in the state where the activity occurs. That decision should be based on multi-state taxation rules and registration requirements, which vary from state to state.

Delaware and Nevada are often cited as the best states in which to domicile (or form) your new business. Both states have advantages, but not all may apply to your situation.

click here

Questions For Your Professionals

Setting up and operating your new business in the first year and beyond inevitably raises a myriad of issues and challenges.  You no doubt realize that you should be asking questions of your professionals to meet these challenges.  But particularly during this critical, fast-changing period, how do you zero in — quickly, concisely, and comprehensively— on right questions to ask?

Fail at this, and no one pays a bigger price than you do.

Over the years, too many clients have told me their sad stories of lost assets, income and lawsuits, purely because they did not know which questions to ask — or realized them too late.

I won’t let that happen to you.  I’ve put together a “get you started” list of questions to help you hit the ground running with your professionals. Of course, it’s not a complete list — and can’t be.  Your situation is unique, and may change based on the economy, changes in your focus, goals, needs… but I’ve found that the concerns addressed here are virtually universal.  Posing these questions may also help you clarify the distinctive aspects of your business that could spell the difference between struggling and success.

For Your Attorney:

1. Which contracts do I need to have in place for my business?

        a. Review lease

        b. Employment contracts

        c. Independent contractor agreements

        d. HR manuals

        f. HR posters

        g. Employment laws

        h. Buy sell / agreement (if you have a partner)

        i. Shareholder agreements (if you have a partner)

        j. Profit sharing for employees

        k. Any specific changes to bylaws or operating agreement

2. How do I replace a board member?

3. How do I add a new shareholder?

4. How do I bring on an investor without violating SEC rules?

5. What commonn problem areas expose a new business owner to lawsuits, and how do I avoid them?

11.    “I already have my team of professionals and I don’t need any help.”
Just last week I renewed a relationship with a high end financial planner with a background in M & A (merger and acquisitions) who proceeded to remind me of his powerful network throughout the US when it comes to having access to the best tax and financial strategies. I am always on the lookout for top quality strategies and professionals and my current professionals know that. No offense, I am just looking for the best people to product the best results. I do not have family or friends do my work, for that reason alone. If they are highly qualified friend or family member, that would be a different story. Usually that is not the case. Make sure you are maximizing your results. Most professionals are at some point evaluating if they want to keep you as a client, why not do the same with them.

Here is the bottom line; it is your money, your assets, your future. Be aware of some of these costly belief systems so you can continue to grow AND protect your net worth! Being successful isn’t easy, if it was, everyone would be.

10.    “I do not need business credit because my business is already doing well and I am in a very good position financially.”
If that is the case, good for you!  This is the best time to establish business credit! Most people make this classic mistake. They form an entity and still use their personal credit for everything (most may not even be aware of how that happens). Most companies fail for financial reasons. If that is the result of cash flow problems, and you go under and have personally guaranteed everything, guess what, you still lose all your personal assets even with a separate legal entity.