Startup
Midweek Reading: Names, Pharmacists, and Injuries
A good business name matters, so avoid these four major business name mistakes, including difficult spelling and ambiguity. There are nearly 300,000 licensed pharmacists working in the US, many still with independent pharmacies holding off the national chains. This interview with an independent pharmacist looks at the challenges of the business. According to an extensive…
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Does Your Business Need a Buy-Sell Agreement?
One of the questions I will ask a business owner in my interview process is, “Do you have a business will?” By this line of questioning, I am simply asking what happens to the business if you die. Some businesses have one or multiple partners, and others businesses are owned by a single individual. Far…
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Compliance Requirements: LLC vs. Corporation
Worries over corporate governance are a big reason many people choose not to incorporate and instead settle on another entity type. Corporations have gained a reputation for extremely complicated governance with a lot of rules and regulations, so that corporate directors are spending a lot of time and effort maintaining good standing. Limited Liability Companies,…
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Best of Mentoring: TJ Muehleman on Raising Money vs Bootstrapping
TJ Muehleman’s mentoring series walks through his journey as an entrepreneur, starting and building multiple companies and building upon what he learned each step of the way. Discussions include how he has learned from failure, how to pick out the most important ideas in the midst of all the noise, and the way to build…
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Midweek Reading: Hiring, Speed Coaching, and Part-Timing
Google drew up a 300-question survey to help figure out how it could identify the best job applicants for future hiring, and found out what we all know: hiring is complicated, and doesn’t depend on just one factor. Samuel Adams Speed Coaching events connect small business owners with small business specialists giving advice on new…
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Is Good Ever Better Than Perfect?
“A good plan violently executed now is better than a perfect plan executed next week.” – George S. Patton I have been thinking and talking a lot lately about how to build marketing plans. So let me share a little secret with you all: The perfect marketing plan does NOT exist! Let me give you…
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Midweek Reading: Brainteasers, Day Jobs, and Gigs
Google is moving away from its notorious brainteaser questions during job interviews—but other companies are picking them up, despite uncertainty over their effectiveness. If you’re thinking about quitting your day job while you work in your new business venture, think twice. Here are 3 reasons not to quit the day job. About 1 percent of…
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Midweek Reading: Subscriptions, HRAs, and Search Results
Subscriptions make life easier for consumers—but they also have the power of inertia. According to a survey, 62% of consumers have kept up an unwanted subscription just because they didn’t cancel. A small business advocate points out a reform in how the IRS interprets health care laws could save small business owners hundreds of thousands…
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Consultant’s Corner: The Risks of Outsourcing Overseas
Q. What are the risks of outsourcing IT work overseas and/or hiring foreign workers? Many businesses outsource IT work to foreign contractors and companies; however, while outsourcing often enables businesses to obtain quality IT services at lower costs than domestically, there are various risk considerations, particularly for small businesses. To help assess whether outsourcing any…
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How to Set Up Compensation and Benefits
Just because a small business can’t afford to offer its employees the same benefits package as a large corporation, doesn’t mean it can’t come up with creative ways to compensate when cash isn’t always available. Here are a few questions to keep in mind when designing a compensation and benefits plan for your startup. Do…
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