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Business Formation – The Bigger Picture of Business Location Decisions

In my previous business formation article, I discussed a Thumbtack Survey on the best States for a small business. Today I would like to follow up on that theme of business location decisions with another look at what makes one State more or less attractive than other States to business owners. I would like to first discuss a report from the Manhattan Institute concerning the Great California … [Read more...]

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Business Formation – Best States for a Small Business

A question that I often get from current or potential small business owners is "What are the best States for a Small Business?" This question is often asked with two focuses in mind - financial/accounting (tax and fee expenses and friendliness to small businesses), and legal reasons. To the legal reasons and risks of setting up your business in one State over another, I will defer to the lawyers … [Read more...]

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Business Formation – Protecting Limited Liability

This post on protecting limited liability is a continuation of last week's post on business entities, I want to discuss an important topic about protecting the limited liability you need to protect your other businesses and personal assets from liability in the event of litigation or some other event. The most important element in an LLC or Corporation is protecting limited liability for the … [Read more...]

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Business Formation – Choosing a Business Entity

In the process of going through your Business Plan, you will need to begin thinking through how you want your business set up and what business entity you will be using. This post is designed to give you an overview of choosing a business entity that is right for your business. This is not specific advice that I recommend you going forward with without first consulting an accountant, lawyer, or … [Read more...]

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Business Formation – Business Plan Template

So you are at the point where you know you want to start a business, you have an idea, and you are wanting to move forward. What next? Today I will review one of the resources I have shared with you in the Tools and Resources section - Score.org's Business Plan for a Small Business Startup. This is a business plan template that I found immensely helpful in that it poses multiple questions in each … [Read more...]

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Business Formation – Transition Point

I had a few circumstances collide today that brought up the topic for today. I have two resources that I encountered and a situation with the last business I worked at that where I had to go back into the office to pick some things up. All that to say, the topic today is that moment of transition where you cease being dependent on another person or entity for your income and enter into your own … [Read more...]

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Business Formation – Personally Funding your Startup

Last week we discussed the mindset for starting a business, and this week I would like to touch on an important step toward starting your business - personally funding your startup. More specifically, I mean preparing financially to transition from employee to self-employed including remaining an employee while you build your business, saving, cutting expenses, and reinvesting capital in your … [Read more...]

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Business Formation – Mindset

Well here we are, ready to jump in. The first topic I would like to discuss here about business formation is developing the mindset to start, manage, and succeed in your own business. I want to start here because I believe that having the right mindset is the key to actually making this whole thing work. I want to break the mindset down into 3 areas: personal confidence, personal … [Read more...]

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