June 24, 2015
Why open yourself up to personal liability when you don’t need to? Today’s query comes from someone wanting to know that fundamental first question: “What form of business should I be?” Q.: I’m wondering what kind of company you would recommend for me to register under for a clothing company. I was thinking going Limited Liability because I would not be personally responsible if companies came after me for some reasons and couldn’t take my personal assets. Which one would you recommend because I don’t really know how much money I’m going to make in the first year. A.: For all but a v-e-r-y few situations, I recommend that entrepreneurs form either a corporation or a limited liability company. There are simply too many variables and pitfalls in starting and running a business . . . so why leave your personal assets exposed? Which form of limited liability entity you choose, though, depends on a number of factors: Where the business will be located How many people will own the business The nationality of the…
Continue ReadingListen to the Episode Below: As entrepreneurs, we often only want to talk about our top line. Your big money is the sexiest part of running your own business, but how can you guarantee bragging…
Read MoreStrategic alliances. They’re great when used effectively to expand the range of your product or service offerings. They’re not so great when you collect them like Manolo Blahnik shoes, merely because, well, everyone else has…
Read MoreAccording to a report this past Thursday at CNNMoney.com, Sara Lee is selling its stake in a Mexican joint venture to its joint venture partner. Although reports are sketchy, reasons include “closer focus on core…
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