Business Essentials

Post image for Should You Do Business With Friends?

Adhere to the following 4 ground rules if you want to keep the friendship. Should you . . . or should you not . . . do business with friends? The short and obvious answer is: It depends. Whatever side of the deal you’re on–giver or receiver–here are some ground rules to consider: Only do business […]

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Post image for Smart Networking for Client Pipeline Growth

One of the key components of a strong business is making sure you always have “stuff” in the pipeline. As we move into summer and the (theoretically) warmer weather, there are lots of delicious options for networking. Outdoor terraces, harbor cruises, events in public parks–they’re a wonderful way to enjoy a bit of natural beauty […]

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Post image for America’s Most Promising Companies

Yes, it comes from a competitor, but money is money, right? Forbes, in conjunction with The Venture Alliance, is launching a survey of America’s Most Promising Companies.  It’s an opportunity for small business owners to evaluate their chances of getting investment capital funding.  They’ll look not just at growth in sales, but a whole range of […]

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Owning a successful business takes lots of different knowledge and know-how to get it running smoothly—which includes avoiding risks.  Yet many entrepreneurs forge full steam ahead without professional legal advice … for a variety of reasons. Cost. Fear. Ego, to name a few. But without it, seemingly small missteps like “oops, my independent contractor should […]

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Q.:  What is sweat equity and how does it work? My husband has recently started a new job where the salary is $50,000; however, he only takes home $25,000. The other half is going into sweat equity. Is this a normal practice and how might my husband benefit from this?   Read on to find […]

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Post image for Get the Lowdown on Insurance

6 smart ways to ensure your peace of mind and your company’s protection against loss. Few things in business–or in life–provide you with an ironclad guarantee. There’s no assurance of 100 percent success or 100 percent protection. That’s something to consider when it comes to the potential for lawsuits. There’s no way to absolutely, positively […]

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Workshak’s post on limited liability partnerships (which pulls from Taxgirl’s post on ProBlogger) is right about one thing:  that limited liability partnerships (LLPs) are pass-through entities. What the post doesn’t address is that the LLP statutes in many states make the form less-than-ideal for many multiple-owner businesses.  For example, in some states, LLPs can be […]

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There’s nothing like an editorial calendar to get you to focus on writing. Beginning in the next few weeks, I’ll be reading and commenting on the book Buy-Sell Agreements: Ticking Time Bombs or Reasonable Resolutions?by Z. Christopher Mercer.  Chris approaches the subject from a valuation point of view (no surprise, as you’ll learn he’s the […]

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When I first heard David Greer’s story, I started to salivate. Not at the acrimony that created the situation, but at the end result:  a two-year Mediteranean cruise with his family! But it could not have happened had David not been willing to follow the advice of his attorney and sign a shareholders’ agreement for […]

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I’ve seen this joke in many guises.  There’s the information technology specialist and the businessman; the politician and the scientist.  Here’s one for lawyer and client (and, yeah, they were all written as “he”). Enjoy! “Business Partners” A man is flying in a hot air balloon and realizes he is lost. He reduces height and spots […]