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 ReadingAt some point in their business planning, most entrepreneurs wonder: “How can I protect myself if things go awry?” Even if they have few personal assets, they may want to avoid the possibility of seeing…
Read More“We’re like lobsters,” said Nancy. “If we don’t grow, we die.” Nancy and I are at a speaking workshop in Orlando, led by world-renowned speaker Les Brown. We’ve been through 8 straight hours of drills,…
Read MoreOK, so smack-down is more appropriately a World Wrestling Entertainment (formerly known as WWF) term . . . but I was intrigued to learn from mma-zone.com that Spike TV, a division of MTV Networks, and…
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