No matter how much pride of ownership you have for your business, there might come a day when it’s time to hand the reigns over to a new owner. Whether or not this possibility is currently in your sights, it is important to have secure plans in place to make sure the transaction is [...]
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So far koldham75 has created 32 blog entries.
If you own a business, it’s important to plan for what will happen to your business after you pass away. As a business owner, most of your assets--and your family’s financial security—is tied up in your business. Establishing a successful estate plan depends on the business being transitioned to someone in the family or [...]
An optional yet important step for maintaining your LLC legal status--and the risk reduction it provides--is to hold an annual meeting with members/shareholders and the Board of Directors discuss the major components of the company. If you choose to take this step, recording meeting minutes can give you additional support if your LLC status [...]
If you’re growing your small business, you might find yourself in a position to hire employees and/or independent contractors to take over some of the responsibilities associated with carrying out certain duties. (We cover the differences between employees and contractors HERE.) This can be concerning if your business has intellectual property and processes that [...]
In both dating and business, the early stages are filled with excitement, optimism and infatuation. Partners convince themselves that nothing can go wrong, but if it does, they will weather it together and work it out. However, ideas change and things can get messy if life throws a curve ball—which almost always happens. A [...]
Pop quiz! What do the names Paramount, Fox, MGM and Pixar have in common? If you immediately thought of Hollywood movie studios, you’d be correct. An energy company in Canada has also branded their different lines of business with these famous monikers, using Paramount Resources as their parent company, which has significant investments in [...]
Keeping your personal life separated from your business is an important step to ensuring long-term success. LexLaunch.Com’s Tim Denker explains these steps to small business owner Kevin Oldham in Part 4 of our vlog series. Ready to create your own LLC, at a reduced rate from typical attorney’s hourly fees? Click HERE to learn [...]
Setting up your business as an LLC is a great step in reducing risk for your company. However, it has its limitations. LexLaunch.Com's Tim Denker explains these limits to small business owner Kevin Oldham in Part 3 of our vlog series. Ready to create your own LLC, at a reduced rate from typical attorney's hourly [...]
At the start of a new business, it can feel like a race against the clock just to keep up with daily tasks: making calls, ordering supplies, fulfilling orders, attending events. When every day has its own set of obstacles to overcome, it can seem futile to think about setting yearly, quarterly, or even [...]
Every business should consider consulting with at least two types of professionals in the early stages: accountants and lawyers. Most small business owners visit an accountant to set up the financial foundation of their new venture, but some struggle with the need to visit an attorney for business setup structure and solid risk reduction [...]