While many entrepreneurs default to forming an LLC, choosing a business structure affects everything from taxes and liability to succession planning and raising capital, so you must create the correct entity for your business.
Whether you're managing a small startup or a growing enterprise, having effective business systems can be the difference between hitting a high note and falling flat. Let's explore how you can harness the power of business systems to boost your company's success.
Are you dreaming of launching a business but struggling with funding? Or are you looking for a boost to grow your small venture? If traditional loans feel out of reach, microloans could be the perfect solution. They offer a more personalized lending process, often focusing on your business idea and potential rather than just your credit score. The flexibility of these loans allows you to cover costs like equipment, inventory, or even cash flow management.
As a business owner, networking may be a necessary evil. You have to get your name out there by meeting other people, but does it have to be so uncomfortable? The answer is “no,” and here’s why.
Starting a business is tough; sometimes, despite all your best efforts, things don’t go as planned. When your business fails, it can feel like the end of the road. But here’s the good news: failure isn’t the end.
You started your business as a labor of love, nurturing it through those challenging early years with grit and personal sacrifice. The last thing you’re probably thinking about is replacing yourself in the event you retire, die, or become incapacitated. But when you face these facts, you set your business up for success.
The path to entrepreneurial success is paved with challenges and triumphs, often born from humble beginnings. One such business is The Nitro Bar. Audrey Finocchiaro and Sam Lancaster are the founders of this thriving company, and all entrepreneurs can learn from their story.
As an entrepreneur, you can appreciate how difficult it may be to get outside investment funding for your business. But fret not! It’s possible to turn that “no” into a "yes" with these 8 tips.
Launching a new business or expanding an existing one brings the thrill of crafting a unique brand identity. This creative process is exhilarating, yet it's fraught with hidden dangers, notably the risk of infringing on another company’s established trademark. Learn how to avoid costly mistakes with 4 practical steps.
A partnership can be a rewarding and efficient business model if set up the right way, and crafting a robust partnership agreement from day one is crucial for outlining the rights, responsibilities, and operational procedures within your business venture.
Owning a business can be a thrilling adventure and an outlet for your most creative ideas. But behind the scenes of creativity and ambition, there's a practical reality that every business owner faces. To succeed, you need more than ideas and drive—it's about having the right team in place. We’ll explore three critical roles that are essential to your business's success and how the support from these individuals can make all the difference between a business that fails and a business that achieves sustainable growth and progress.
Having a mind for business isn’t a bad thing – after all, a lot of great ideas come to us when we least expect it. But if you find yourself frustrated, resentful, anxious, or feeling obligated to respond to emails and messages at all hours of the day and night, it’s time to reassess and redefine your business boundaries.
It might seem a bit early to think about your 2023 business taxes, but as the year draws to a close, it's the perfect time to take a closer look at your company’s financial situation and make some strategic moves to minimize your business’ tax liability come next April.
If you’re like many business owners, you probably feel like there isn’t enough time in the day for everything you need to do, let alone everything else you’d like to do. But it doesn’t need to be that way. Last week I explored how to use time blocking and task management tools to better manage your time and get more out of your work day. This week, I’m sharing two more methods every business owner should use to get more done, stay more organized, and have more time to take care of yourself and the people who depend on you.
Time is your most valuable resource, and how you manage it can significantly impact the success of your business and your personal well-being. But finding effective ways to organize your schedule and manage your team can feel like a time-consuming task in itself. If you feel overwhelmed by your calendar or like there is no room in your day to take care of your personal needs, it’s time to revisit your time management methods. To help you reclaim control over your schedule, boost productivity, and reduce stress, consider these life-changing time management strategies.
When starting a new business, putting the right legal agreements in place is crucial for protecting your assets and relationships. Yet far too many new business owners put off—or even entirely overlook—creating these vital documents. You might not even know which agreements you need. The followi...
Far too many aspiring entrepreneurs jump-start their businesses without taking the time to plan properly. Just as a builder uses a blueprint to ensure a new construction project will be structurally sound, a carefully researched and well-thought-out business plan allows you to determine whether o...
This week we are shining our Small Business Spotlight on Sue Malo of RevLocal, a digital marketing company. Sue grew up in Portland and graduated from Willamette University. After living in Chicago for 30 years, she returned home to her family and roots in the Pacific Northwest in 2016. Sue cons...
When it comes to your company's identity, nothing is more vital to your company than your name and logo. By developing a catchy name and snazzy logo for your business, you can quickly get your company recognized, remembered, and respected. Once you have come up with a winning name and logo, you ...