Category: Business Planning

5 Best Practices For Complying With Your LLC’s Administrative Formalities

Limited Liability Companies (LLCs) are a popular business entity with many entrepreneurs. Like corporations, LLCs offer valuable personal liability protection for their owners. Unlike corporations, however, LLCs aren’t required to adhere to the same burdensome record-keeping requirements and other corporate formalities corporations must follow. That said, while the administrative requirements for an LLC are far [..]

Read More

4 Legal Mistakes That Can Doom Your Startup

During the startup phase, it’s easy to get overwhelmed by the massive amount of work it takes to get your operation up and running. You’re so focused on the daily tasks needed to keep your doors open, it can be easy to put off administrative duties that aren’t aimed at bringing in revenue or attracting [..]

Read More

5 Reasons You Need Standard Operating Procedures

Standard operating procedures (SOPs) are detailed instructions describing the procedures for carrying out recurring business tasks. At first, creating SOPs for your company’s processes might not seem very important. After all, if it’s just you and a couple other people doing all the work, creating step-by-step instructions for each key task might seem like a [..]

Read More

4 Ways To Scale Your Business for Sustainable Growth

Scaling your business is about effectively planning and preparing for growth, so as your operation gets bigger, your costs and workload don’t increase to unsustainable levels. To properly scale your business, you should be increasing revenue at a rapid rate, while increasing costs at a much slower rate. Growth is only sustainable if you have [..]

Read More

4 Tips For Starting a New Business As a Side Hustle

Whether you are looking to start your very first business, or you’re an established business owner looking to develop another income stream, launching a side hustle can be an ideal way to do so. By developing your business as a part-time side gig, you can greatly reduce the personal and financial risk that comes with [..]

Read More

3 Strategies For Engaging and Managing a Remote Workforce

There are numerous advantages to running a business with a remote workforce. Without a physical office, startup costs and overhead are significantly lowered. You aren’t limited to hiring locally, so you have a much better chance at attracting top talent. And increased employee autonomy typically increases job satisfaction, which can boost productivity and morale, while [..]

Read More

4 Tips For Running a Successful Business With Your Spouse

Upon first glance, starting a business with your spouse can seem like the ideal opportunity. You get to spend more time together, make money, and build your own company with someone you implicitly trust. If you have an amazing marriage, you should be just as successful at running a business together, right? Unfortunately, it’s not [..]

Read More

4 Essential Strategies For Selling Your Business

As an entrepreneur, you’ve probably put lots of thought into the best ways to start and grow your business. But you likely haven’t put nearly as much effort into thinking about how you’ll sell it or exit it, in general. And if you decide that selling is the way to go, you’ll want to start [..]

Read More

4 Critical Estate Planning Tasks to Complete Before Going on Vacation

4 Critical Estate Planning Tasks to Complete Before Going on Vacation Going on vacation entails lots of planning: packing luggage, buying plane tickets, making hotel reservations, and confirming rental vehicles. But one thing many people forget to do is plan for the worst. Traveling, especially in foreign destinations, means you’ll likely be at greater risk [..]

Read More