Consultant’s Corner: Serving on a Corporate Board

Q: How does a person go about getting considered to serve on a corporate board, or as an advisor to other corporate boards? The approach, qualifications, and other considerations for getting a board of directors, or advisory committee, seat vary somewhat based on the type of corporation—nonprofit, privately-owned, or publicly owned. Having contacts and relationships […]

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Consultant’s Corner: Hiring Your First Employee

Question: I’m growing and am thinking about hiring my first employee. What should I do? When growing a business, entrepreneurs typically reach a point in the process where they must consider the prospect of adding staff. There are several important things to consider when hiring employees, which include: labor laws, compensation structure, fringe benefit programs, […]

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Consultant’s Corner: Marketing Plans for Financial Advisors

Q. What are the best marketing strategies for financial advisors? Financial advisors and similar professionals use customer referrals, local Chamber networking, other professional networking, lead groups, direct mail, newsletters, a business website, social media networking websites, direct sales, and other methods. The best marketing plan will be the one that effectively reaches your defined target […]

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Consultant’s Corner: Protecting Your Business from Employee Theft

Q: I’m looking to start a new mobile auto detailing business. My biggest concern is protecting my business, particularly from employee theft. What can I do in my hiring procedures? Effective hiring procedures are important for every employer; however, since you will have employees taking company assets off premise, handling customer cash payments, working on […]

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Consultant’s Corner: Do I Have to Pay Employees When Bad Weather Closes the Business?

Q. Are employers required to pay employees for days they could not come to work due to inclement weather and the building was closed? While you may want to consult your local labor lawyer to confirm your employee compensation requirements for particular business closure situations, as a general rule, exempt employees will need to be […]

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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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