Planning & Advisors

Post image for One of the Top 10 Reasons Small Businesses Fail

According to Dawn Fotopulos, president of BestSmallBizHelp.com, one of the top 10 reasons small businesses fail is that they overspend on fixed assets. Do you really need that state-of-the-art computer system right out of the gate? Will your customers care whether your desk is make of solid oak or pressed particleboard? Will they even see it? Overspending on […]

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Post image for Basic Training: Zapped! Or, Is $60 Too Much for a Legal Consultation?

Q: What kinds of legal issues do I need to be aware of in my business? And, do all attorneys charge for consultations? I went to one attorney who wanted to charge me $60 for a consultation. A: Not sure where you’re located or what stage your business is in, so it’s hard to tell […]

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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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