Planning & Advisors

Post image for 5 Tips for a Top-Notch Advisory Board

Having a board isn’t enough. Know how to use the members to maximum effect. As you’ll soon find out (if you haven’t already), there’s no way one entrepreneur–you–has all the answers. Or all the skills. Or all of the time to single-handedly get your venture running smoothly. If you want your business to expand, you’ll […]

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Post image for ‘Don’t Try This At Home’–Interview with IP Attorney Amy Goldsmith

“Why can’t I handle my own patent/trademark/copyright filings?” you ask.  “I’m getting started on a shoestring–do I really need to spend the legal fees?” Go right ahead and DIY . . . but if you’re not on target about what you’ve done or how thoroughly you’ve handled your background research, you could find that you’ve […]

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Q.: Can a partnership use a partner’s family term life insurance policy as a business expense, with the intention of using the policy as a way to buy out the spouse’s interest in the business?   Read on to find out . . . .

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Post image for How to Choose an Advisor–Top 5 Questions You Want to Ask

I was sitting with a colleague, Matt Clifford of The Island Financial Group last week, chatting about a range of things: the economy, is the administration’s Stimulus Package truly stimulating (or is it a handout), and how small business owners can protect themselves. Our conversation then moved to “whom can you trust?” With the seemingly […]

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Do you know where you’re going to?  Do you like the things that life is showing you?  Where are you going to?  Do you know? These are important philosophical questions.  They’re also important business questions.  (They’re also lyrics to the theme song from the classic film, Mahogany). If you don’t know when you want to get out […]

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Post image for Diversify, But Keep It Legal

Here are tips to help you avoid multiple headaches from having multiple business lines. Tough times call for creative measures. So it’s no surprise that many of the entrepreneurs I’ve encountered are taking on something new: a new line of business, a new venture, a new alliance, a new target market. Let’s look at a […]

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I was just contacted by a company to explore “partnering” with them.  I don’t know the company very well — they know someone I know, so it’s a 2-degrees-of-separation network.  And while they come recommended, my time is precious.  I need to be v-e-r-y careful about getting into just any ol’ partnering relationship — whether […]

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Deciding on a business partner can provide the key to a rewarding and successful long-term relationship.  Rhonda Abrams’ USA Today article outlines a number of considerations to keep in mind.  I know a number of entrepreneurs who raced into partnerships because they weren’t comfortable being alone — and, like romantic relationships, that’s usually not a […]

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From Entrepreneur.com (via MSNBC.com), comes Chris Pettila’s article on how partnering with other entrepreneurial companies can help all of you “bulk up and throw your collective weight around.” The article discusses one company’s desire — that of Topics Entertainment — to get a bigger piece of the children’s educational DVD market.  It came up with […]

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Post image for Lawyers’ Fees for Leases

Q: How much does a lawyer charge to look at a lease?  I am trying to figure out what is important.  I was hoping you might be able to give me some insight. A: Lawyers’ fees to review a lease generally depend on the amount of time it takes to do the job.  That, in […]

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