Consultant’s Corner: Finding Angel Investors

Question: I am beginning a new business and would like to secure funding through angel investors. Where should I start? Of course, the angel investor category can include family, friends, and business associates. Also, the type of business venture and amount of capital needed can influence where to look for angel investors. For example, your…

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Protecting Your Intellectual Property

Whenever you start a business, it needs to have something about it that is special, some unique quality. Sometimes, that quality is just bringing an existing product or service into a new market. But other times, the unique quality of your business is a new product or service that you’ve invented. When you’ve taken the…

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How Small Failures Help You Avoid a Big One

American optimism has launched many businesses. But it’s all too easy for enthusiastic entrepreneurs to think that they can push through problems by sheer optimism. As I have found out in my years in business, though, if you don’t deal with reality, reality will surely deal with you. There’s actually recent scientific research to back…

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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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Don’t Do These 4 Things When Business is Booming

Success in business is just as much cautionary as it is celebratory. When you start breaking even and gradually grow used to business being on the up and up, naturally you’ll be inclined to spend more money. Sometimes this spending is done for the greater good of the company’s ROI, like hiring new employees. Other…

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What is Involved in Forming a Non-Profit Company?

If you’re looking to form a non-profit corporation, there are several important steps for you to follow. Incorporating a non-profit corporation is often similar to a for-profit corporation, but there are some differences to be aware of. Here are some general guidelines for incorporating a non-profit. Pre-Incorporation Matters Prior to incorporation, you should have a…

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Consultant’s Corner: Business Entity Selection

Question: “How should I go about choosing a business entity type?” Many small businesses are structured as unincorporated sole proprietorships and General Partnerships due to their formation and maintenance simplicity and costs; however, the primary disadvantage with a sole proprietorship or General Partnership is that it is not a separate legal entity, even when it…

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Ready to Be a Registered Agent? Ask Yourself These 3 Questions

Most states require that small businesses designate a registered agent in their state of formation. Registered agents (also referred to as an RA) act as the state’s means to communicate with a corporation or LLC. They accept official documents on behalf of your business, organize the materials, and get the paperwork over to the business…

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