The Benefits of Diversifying Your Business

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If you’re working in business and not sure what you do, you’re certainly not alone! Many people who start companies aren’t exactly sure of their business models or niches and this can make things very confusing later on when it comes to marketing and selling their products or services. The most important thing, as with any project you work on, is to have clear goals and objectives. If you don’t know exactly what your business does, how can you measure its success? And if you can’t measure it, how do you know what changes need to be made so that your business will grow?

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Being a freelancer is not always easy and it’s important to make sure your business classification is accurate. Here are some common misclassifications that freelancers often fall victim to:

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– Freelancing instead of being self-employed

– Working for a company as an independent contractor when they should be considered an employee

– Thinking they are a sole proprietor when they should be classified as an LLC or S Corporation

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If you think any of these might apply to you, talk to our team today about how we can set up the best possible structure for your freelance business.