Protect Your Customer List

Let’s say that, like most businesses, you have spent considerable time, effort, and money developing your customer list.  How can you best protect your investment?  Successful businesses implement two methods — one incorporating legal strategies and the other sound business practices. The legal strategies recognize that your employees are the greatest risk to your intangible assets, …

How to Work a Room

You know that networking is critical to growing your business.  If you are like most people, however, your networking efforts are largely ineffective.  Three key concepts can help you make networking events more productive: 1.    Get out of your comfort zone – Let’s be honest:  networking does not come easy for most people.  To one degree or another, we …

Ten Fatal Mistakes Business Owners Make: No. 5 Buy-Sell Agreement

The biggest mistake that business owners make is failing to plan.  Failing to plan has some of its most devastating consequences in the context of an owner leaving the business. Consider the following questions: Do you want to be in business with your partner’s spouse?  If you don’t plan properly, you may unexpectedly find that …

How Do You Eat An Elephant?

If you own a business, you are pulled in many directions every day: you must meet with customers, train employees, oversee quality control, pay vendors, promote your business, solve problems, and answer questions. And you might want to spend time with your family, too. The daily urgencies can be overwhelming. Not only can they be …

Ten Fatal Mistakes Business Owners Make: No. 4 – Unqualified Statutory Agent

If you are like most business owners, you spent less time choosing your statutory agent than you did choosing the type of pens you would order. Though the decision may seem mundane, choosing the wrong statutory agent can create headaches for your company. A corporation or limited liability company is treated as a “person” under …

Ten Fatal Mistakes That Business Owners Make: Consolidated Business Operations

You may think that your business is protected because you made the prudent decision to operate your business as a corporation or limited liability company. You may also hold annual meetings, file the appropriate documents with the Corporation Commission, and maintain other corporate formalities. And yet, your business is still at risk if you fail …

How to Succeed in Business

In times of economic distress, many people sit on the sidelines, worried about their future. You may be one of them. You may have heard the tales of woe emanating from the mainstream media and reasoned that failure is imminent. You may believe that lay-offs and foreclosures are legitimate excuses for pulling back on your …

Ten Fatal Mistakes Business Owners Make: Nos. 1 & 2 – Corporate Formalities

In a recent post, I outlined the Ten Fatal Mistakes that Business Owners Make. The first two mistakes are related, dealing with corporate formalities. Avoiding these two mistakes is fundamental to the success of your business. Mistake No. 1 – Failure to Set Up a Proper Business Entity Starting your business is an exciting event …

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