As a business owner, you understand the significance of sound financial management. The comfort of steady, consistent earnings is a testament to your strategic planning and operational efficiency. However, a consistent flow of money is not always a reality. That's...
Business Formations
Why do I need a business plan for my startup?
Established entrepreneurs would agree that not having a business plan is a failure waiting to happen. Though it is not always the case, startups that attempt to operate their business without proper planning usually fail within the first few years of operations. While...
Could venture debt be a better funding tool than venture capital?
If you’re starting a new company, financing is, of course, key to getting it off the ground. However, obtaining financing from a traditional lender is difficult when you have nothing to show them but an idea and your experience and talent. That’s where venture capital...
What is an operating agreement and why does your LLC need one?
Starting any new business is an emotionally-complex undertaking. As exciting as it is, there’s also plenty of stress that comes with it too. Thankfully, taking thoughtful steps and seeking legal guidance can help to minimize preventable stress. For example, if you’re...
Should you consider adding a business partner?
Starting a business can be a challenging task, and it often requires a great deal of effort, resources, and planning. One of the critical decisions that entrepreneurs must make is whether to keep their business a sole proprietorship or a partnership. While there are...
How do sole proprietorships and LLCs differ?
Deciding on a business structure when you start a company is one of the first decisions you have to make. Two of the most common are the sole proprietorship and the limited liability company. A sole proprietorship is the simplest business structure, where you and...
Choosing a team for your new business
Starting your own company can be exciting and very rewarding. Years of hard work learning relevant skills and making contacts has finally paid off. Nonetheless, if your plan is to grow and make a full-time income off of your own business, you're probably going to...
How your partner’s divorce can affect your business
When you and your partner first incorporated your business, everything was going great for you both. Two happy marriages -- and success seemed imminent. Ten years down the road, your business is still booming. But your partner’s marriage has become both explosive and...
How can you handle a partnership dispute?
Going into business with someone else enables both parties to draw on the experience of the other person. These arrangements can be lucrative if they’re handled properly. While most partnerships work well, there might be times when disputes occur. A dispute can have a...
Why a business plan is an entrepreneur’s best friend
More and more people are exiting the traditional workforce in favor of starting their own business. From stagnant wages to uninspiring work environments, there are plenty of valid reasons to crave something different. Entrepreneurship is attractive to creatives and...