Legacy

Many people have started a business partnership (or limited liability company) with at least one other person. According to the IRS, that’s at least 14 million people. And that doesn’t include those who have started small corporations with other owners – which could easily double that figure. But according to AssociatedContent.com, up to 70% of […]

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Who said partnerships were easy?  Part of the challenge is structuring your company so that it can function well in your absence — especially if that absence is a prolonged one . . . like, because of your death.  What happens to the employees?  What happens to your clients? As Jason Knott points out in […]

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Post image for 7 Tips for Finding a Good CPA

Mani Malarvannan gives some helpful tips in finding a good CPA in his aptly-titled article, “€œ7 Tips for Finding a Good CPA,” in the Small Business Informer. He also points out the importance of preparing for the interviews with these CPAs by having a list of questions you might want to ask. He alludes to a few […]

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Post image for How to Find the Attorney Who’s Right for Your Business

In trolling through the blogosphere, I came across a handful of posts that asked (and answered) the question: which legal issues keep entrepreneurs up at night? I found that “finding the right attorney” is definitely among them. How do you know who’s the right fit? How can you tell if they really know their areas […]

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Post image for Letters of Intent: A Tricky Legal Tangle

You can’t be a ‘little bit pregnant’; can you have a legally non-binding agreement? Full-blown written contracts can be such a chore, can’t they? Especially when you’re at the initial “exploration” stages of a business negotiation. You’re not ready to close a deal–you need more time to work things through and conduct your due diligence–but […]

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It seems counterintuitive, doesn’t it, to prepare for the end when you are just beginning your business. But, as former President Dwight Eisenhower was known to say, “if you fail to plan, you plan to fail.” You need to have an ultimate goal when starting your business–whatever that goal may be. It could be: To provide […]

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Imagine: you’ve just purchased a new home with your beloved, and are planning to wed in a matter of months. He’s considerate–wanting you to sleep through the night, though he suffers from back pain and has to get up periodically. You’ve developed a robust small business consulting practice. Your sweetie, new to entrepreneurship (having parted […]

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Terror gripped me. The Summons and Complaint for a malpractice had my name in the caption. I’m stunned. The client was a whack job, yet just 2 years into my law practice, my license was on the line. What could I do? I’m no dope. As a lawyer, I could have figured out most of […]

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WHAT THE $%^&!?!” I screamed, as I slammed down the phone receiver. “I HATE THIS!! I CAN’T KEEP DOING THIS CRAP ANYMORE!” Can you say “meltdown”? Yeah, I had one last month. Triggered by technology. The frustrations. The convolutions. The glitches. All of it pulling me away from making money … and all of it […]

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“There’s no ‘I’ in ‘team’.” “It takes a village.” Or my favorite, “You don’t sharpen a knife against a sponge.” All of which is meant to say, if you want a successful business, don’t go it alone. I learned this the hard way.  For years I thought having a more senior business partner would be […]

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