Planning & Advisors

Post image for Basic Training: Yearning to Start a Business, But in Which Legal Form?

Q: I am starting an online retail store. I thought about filing my status as a sole proprietor.  Eventually I will change my status to an LLC when I have a physical store. Should I go ahead and file as a sole proprietor or should I just file as an LLC now? A: Particularly for […]

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Q.:  What are my rights as the minority shareholder who is being laid off by majority shareholder?  I’m a guarantor on the company credit line? We are the only guarantors on the credit line. There are two other minority shareholders, one was laid off nine months ago but kept his shares, and the other is […]

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After reading some stats on the growth of women-owned companies, I was tempted to get depressed. According to the U.S. Department of Commerce (2010), 88% of all women business owners are sole proprietorships without employees. 80% of all women-owned businesses earn less than $50,000.  (It’s not so fabulous for men-owned businesses either: 77% for ownership […]

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“Clever people and grocers weigh everything,” said Zorba the Greek.  So do service business owners when it comes to growing revenues.  “Do I want more?” they ask themselves. “Of course!  There’s the mortgage. The kids’ college fund. Mom’s medical expenses. And that bucket list trip to Tahiti!” Yet surely as the sun sets over Bora […]

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I came across an old post by Roger Glovsky, the Virtual Lawyer, that asked the age-old question, “What do clients want?” (And no, almost surprisingly, “perfection” is not the answer) Seems, attorneys would do well to put the shoe on the other foot.  We’re so used to brandishing our exceptional intellectual prowess as a way […]

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There’s no use trying to find an accountant on April 14th and hoping that your issues will miraculously be resolved by tax deadline time. Like hiring other professionals and vendors for your business, you want to take your time to select them carefully. And you want to have them in place before you have an […]

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Post image for Basic Training:  Find a LOCAL Attorney!

Why won’t just any ol’ attorney do? This is the situation: Unlike many other careers/vocations, attorneys have to be specifically licensed to practice law.  Licenses are granted by a particular state.  That means that we have to take (and pass) an exam qualifying us to practice law because, as many of you may know, a […]

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Post image for Your Biz Needs an Annual Legal Physical

Don’t ignore these 5 legal issues, or you might find yourself facing expensive, protracted litigation. It doesn’t take a genius to know that Grandma Sophie was right when she said, “An ounce of prevention is worth a pound of cure.” You can see it easily when dealing with employees. According to a survey by Mercer, “The […]

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Post image for Interviewing Alicia Marie Fruin–Building a Business Worth Having

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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Entrepreneurs who want to raise capital from angel investors really need to consider the process from the angel’s point of view. Every audience you’re trying to sway needs to be able to see “what’s in it for them”.  I’ve heard people quip that the most popular radio station in the world is WIIFM–“What’s In It […]

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