You know . . . and I know . . . that faster is not always better, no matter how much the car companies try to push the “0 to 60 in 3.6 seconds” pitch. Think food, sex, rest, travel. You don’t necessarily want to rush these experiences. Quick, split-second decisions are not the best [...]
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Q.: I recently became a sole owner of an LLC due to a partnership split. I am renaming the LLC due to the split. Is it necessary to obtain a new employer tax ID (also known as an “EIN”) for the new LLC? A.: Generally, a simple name change of an LLC does not [...]
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You want to hire an independent contractor. Or a freelancer. Mostly because you don’t want to get involved in the red tape and extra costs involved in hiring an employee. So you put together an independent contractor agreement, and the freelancer signs it. Are you in the clear? No. In this segment of MSNBC’s Your [...]
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Happy Independence Day! Entrepreneurs are blessed with a wonderfully independent, can-do spirit, which deserves to be celebrated. But sometimes, that independent streak can cross over into just plan stubbornness, or controlling behavior. So my interest was piqued by Jeremy Fain’s post, 2 Entrepreneurial Worst Practices. He points out two “worst practices” that get in the way of business [...]
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Q.: I understand you do not let executive session board minutes into anyone but the board of directors’ hands. In fact, I have heard that you pass these board minutes out in executive session and they are then collected and given back to, in our case our attorney who is, chairman of the board and [...]
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Ah, youth. I wish I had been so motivated to change the world when I was a teen. I was more concerned with how geeky I looked in braces and participating in nerdy things like student government. Here’s how this week’s teen wants to make a difference: Q: I am trying to start up a [...]
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Like other asset investments in your business, employees require care and maintenance to make sure they function at peak performance. You can’t just ignore them like office furniture and leave them sitting in the corner. They won’t develop into their fullest potential with that attitude. One of the most important needs — as employees and [...]
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If you don’t want to get stiffed, know ahead of time how you plan to collect on overdue receivables. In any economy, there’s only one thing worse than not having work to do. That’s spending the time and effort to do the work . . . and still not getting paid. Frankly, I’d rather be [...]
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Q.: I have just received my DBA and I’m ready to begin my own business. I would like to clarify once for all if I can use (as I would like) my personal cash account for business purposes too. A friend of mine says so but on my bank website looks like I need a [...]
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A strategic alliance offers a lot of promise to companies both local and global. The promise of new markets. The promise of ways to better serve existing markets. The promise of, frankly, more money rolling in. That’s all good. But there are aspects to investigating your strategic alliance partner that many companies fail to do [...]
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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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