Posts by GoSmallBiz
4 Early Steps to Get Your First Startup Off the Ground
Starting a business for the first time is not for the faint of heart, even in a stable economy. You face uncertainty at every step of the process—one hurdle after the next, until you eventually you reach a point of exhaustion. So why go on? What drives entrepreneurs to pursue business ownership, despite the hardships?…
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Consultant’s Corner: Hiring Your Children
Q: Can I hire my children to work for my corporation? Corporations (C and S types) can generally hire the children and other family members of the corporation’s shareholders to work in the business provided that they comply with applicable state and federal employment/labor law. For example, child labor laws generally apply to business owners’…
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Are You Doing What Matters Most? Reviewing “Four Thousand Weeks”
Our most limited resource is time. We all know it. That’s why one of the most popular self-help/business genres is productivity, as people share their advice and insights for how they think you can get the most done in the least amount of time. The latest entry into this crowded field is a bit different,…
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3 Tips for Hiring in a Tight Labor Market
Is your small business one of the millions still looking for workers? According to a recent survey by the National Federation of Independent Businesses, “more than half of US small-business owners said they had open positions they could not fill in May.” A tight labor market is a tricky spot for a small business, as…
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No One Should Be Afraid to Share Ideas
Do you appreciate it when someone disagrees with you? It might be uncomfortable, but as Fran Tarkenton shares in this video, a constant stream of conversation reassures team members that their leaders are accessible and that their ideas matter. So keep your mind open to disagreement, and be willing to talk it out. You might…
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Services Are Back: Are You Ready?
One of the lasting impacts of the Covid-19 pandemic has been the way it changed consumers’ habits. Almost overnight, everyone stopped buying all kinds of things they had previously spent significant amounts of money on. Restaurants. Concerts. Spas. Movies. Hotels. Travel. Sporting events. It was an incredibly dramatic shift, at an unprecedented speed. In-person services…
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Consultant’s Corner: LP vs. LLP
Q. Is an LP the same as an LLP? If not, what are the advantages and disadvantages of each entity? LP stands for Limited Partnership, while LLP stands for Limited Liability Partnership. The two structures are very different from purpose, governance, and legal liability perspectives: Limited Partnership (LP) LPs are commonly used for long-term real…
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Making and Framing Better Decisions: The Elements of Choice
We all make countless decisions every day, both large and small. Sometimes we make these decisions in a split second, and sometimes we agonize over them for days, weeks, and even months. But how are we actually making those decisions? How much control do you believe you have over the choices you make? We like…
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Are You Paying Attention? How to Avoid Getting Blindsided
Last weekend was the 148th annual Kentucky Derby, always one of the most thrilling sporting events of the year. They don’t call it “The Most Exciting Two Minutes in Sports” for nothing! And this year’s edition exceeded even those expectations. Rich Strike was the winner of the race, the biggest longshot victor in more than…
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Play Ball! Lessons From the Ohtani Rule
Spring has sprung, and thankfully we have also gotten the return of baseball season! Although things got a big tense over the winter during the lockout, the players and owners were able to work it out to start the season. In addition to the new labor deal, the league also announced some rule changes for…
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