Category Archives: Business Creation

Piercing the Corporate Veil – Are you sure you’re a corporation?

A great man named George Costanza once said 'it's not a lie… if you believe it…" And this is just what many small business owners do – they lie to themselves by calling their business a corporation and then they say it and write it down so much that they believe it's true. Well, the problem is that to properly be a corporation, you have to follow procedures. You have to have meetings to take certain actions, you have...

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How a good business plan can keep your money in your pocket (and out of your lawyer’s…)

Business plans are tedious, time-consuming, and ever-evolving. And sadly, they are rarely read…even by the creator. When we meet with a new client, no matter what the reason for their visit, we will ask if they have a business plan. More often than we'd like to mention, we are met with puzzled looks and dismissive answers. Basically – 'what does that have to do with anything? I'm in here for x, y, or z lawsuit.' Well, here's the...

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The Business Divorce – Who Gets the Kids?

Just like a newlywed couple, you and your business partners never go into a venture expecting it will end. Instead, the business starts with excitement and dreams of success. Sure, the statistics say you're likely to fail, but that won't ever happen to you, right? Here's the problem – it does happen. And it happens a lot... More importantly, in a business divorce, it may not even happen because the business failed. In fact, sometimes it happens because...

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3 Things Your Business Should Learn from the IRS…

So, it looks like the IRS got caught for targeting certain groups based on political affiliations, largely conservative. And while some claim that politics had no motive, it sure looks that way. Now, the advice you take away from the IRS debacle shouldn't be that you should just avoid having "patriot" in your business' name or that you shouldn't seek non-profit status or anything like that. Instead, I think there are some good management and procedural lessons to...

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What’s the Real Cost of that UFC Fight?

The Ultimate Fighting Championship events are hugely popular. Showing them in your bar or restaurant can potentially fill it with customers. However, what many owners and managers don't know are the potential headaches that could follow. Did you order your fight from your cable or satellite provider? Did they assure you it was proper? Did you only pay $50.00 for it? If your answer to all three is yes, most likely you've got a...

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