Starting a Business? You Need a Plan for Success
According to the Small Business Administration (SBA), 414,043 small businesses opened their doors in 2015 (most recent statistics), but 395,602 closed. Wow! The SBA also reports that only half of new businesses survive for five years or more, and only one-third survive for 10 years or more. The statistics prove there is no guarantee that […]
5 Common but Deadly Small Business Legal Mistakes
Thousands of small businesses open in the United States each year, but the number that survive and thrive for decades are in the minority. Many of these small businesses fail because small business owners make deadly legal mistakes, particularly in the early days—before and after they open their doors to customers. Don’t be among the […]
Business Name and Trademark Confusion Can Cost Your Business Big Bucks
One of the biggest mistakes that a business can make is failing to secure the trademark for its business name. Many businesses register their business names in their states so they can start operating, and they think that’s all they have to do. Fast forward a few years and a business that makes this mistake […]
5 Things You Should Do Right Now to Maintain Your Business Entity
One of the primary benefits of incorporating your business is ensuring that you (and any other co-owners of your business) aren’t held personally liable for the legal and financial obligations of the business. The business entity limits your liability by creating a corporate veil between your personal assets and the liabilities of the company, meaning […]
10 Tips to Hire a Great Business Lawyer
Have you ever hired a lawyer? Do you know someone who has? Whether you or someone you know has hired an attorney for personal or business matters, you’ve probably heard at least one horror story. That’s because few people do the necessary research to choose a great lawyer before they need one. It’s easy to […]
10-Point Checklist to Start Your Business the Right Way
Starting a business is an exciting time of your life, and just like any other part of your life, you need to take the right steps or you’ll be far more likely to fail. Or worse, you could find yourself in a heap of legal trouble that could have been avoided if you’d taken the […]
11 Questions to Ask Before You Start a Business
Are you ready to start a business? Before you dive (or dive again if this isn’t your first rodeo) into the entrepreneurial world, make sure you’re prepared for the realities of business ownership. There are many things to consider when you’re trying to decide if you should become a business owner. Here are just a couple […]
5 Business Mistakes that Cause Your Company to Lose Its Good Standing
Is your business structured as a corporation (e.g., an s-corp) or limited liability company (LLC)? Are you meeting all of the ongoing requirements to keep your business in good stating with the state where it operates? If you’re not, your company could be administratively dissolved. In layman’s terms, this means you and any other owners […]
The Entrepreneurial Trap – Making Promises You Can’t or Don’t Want to Keep
You’re starting a business and looking for help anywhere you can get it. Things are moving really fast, so you skip the formalities. Verbal agreements and handshakes will suffice. The people you’re working with understand what you’re thinking. They know what they’ll get if they help you. Guess what? If that’s what you’ve been doing, […]