From Ben Canosha’s blog, a good suggestion before starting a business with others: Before going into a partnership with someone, spend time with them in three different kinds of situations: a relaxing one, a competitive one, and an intellectually stimulating one. – Joan Kelly And as a model of collaboration, his new project, Business Rules of [...]
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When you’re starting your business, partnership agreements can seem a tedious exercise. Not only do they take time and careful planning, but also partnership agreements can feel like a bucket of cold water–a real reality dose on your starry-eyed beginnings. Listen in to my BlogTalkRadio interview with Wendy Hanson of The Sassy Ladies, where we cover [...]
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Here’s a scenario for you: You’re the sole owner of a corporation and have no employees. Every once in a while you find yourself a bit short, so you let the company pay for some of your personal expenses, such as dry cleaning, spa treatments and house cleaning services. You’re not depriving a business partner [...]
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Partnerships can be tough under the best of circumstances. Communication gets garbled even when you’re sitting right next to your business partner. But can you imagine the challenges in having a business partner in another city, state, or country? I cam across a post that inspired me to think about it: one business owner is [...]
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St. Patrick’s Day is no stranger to legal controversy. Gay Irish groups in New York and Boston have had protracted (and unsuccessful) fights with city leaders over the right to march in the parades. And this year, there’s an unsual legal issue (albeit an ecclesiastical one). According to CNN online, for the first time since [...]
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“Life is trouble; only death is not,” comments Zorba the Greek in the novel by Nikos Katzanzakis. I’ve heard many a business owner brag about the lack of complication that their sole proprietor status affords them. No messy ownership agreements, no separate filings or taxes, complete freedom and flexibility to do what you want when [...]
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A few years ago, there was a short-lived TV show called “Kids Say the Darndest Things“. Well, in a similar vein, people bring lawsuits for the darndest reasons . . . which is why entrepreneurs are well-advised to protect themselves legally. But rather than get on my soapbox about protection, for today, let’s have a [...]
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What struck me about my conversation with Alicia Marie Fruin, a national leader in coaching and training for small-business owners, and founder of PeopleBizInc.com, is that she so quickly zeroed in on where entrepreneurs get stuck. Stuck in doing everything ourselves because we can’t see a way for our company to expand past our limited skill sets. Stuck [...]
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Yes, they’re cumbersome, but don’t ignore the corporate formalities if you don’t want creditors poking into your personal assets. Congratulations! You’ve taken the important step of protecting your personal assets by forming a corporation or limited liability company. But just as giving birth is only the beginning of your responsibilities of caring for a baby, [...]
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Would that we could wave a magic wand and–POOF!–be a successful entrepreneur. Actually, it’s usually more a matter of becoming a successful entrepreneur and gorwing into the role than all-of-a-sudden being it. In this short video interview with Carolyn Kepcher of Work Her Way, I briefly discuss how a busienss owner might get in the [...]
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Taking on a business partner is not a decision to be made lightly. It’s much like getting married. With the tools provided to you in The Entrepreneur’s Prenup you will always have the partnership guidance you need, regardless of where you are in your partnership process.
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