Conflicts between business partners are nearly inevitable. Thankfully, there are a number of ways for parties to negotiate up-front. Precautionary agreements give you space to resolve issues more easily or, at least, provide a picture of what the result will be when resolution is not possible.
Forming a legal entity, if for no other reason to shield one’s personal assets from being at wholesale risk for the liabilities of one’s business, is critical. The question in nearly every case is not if an entity should be formed, but what type of entity should be formed.
GREAT COMPANIES FAIL for lots of reasons that have nothing to do with their products or services. Coming up with a great idea is difficult; turning that idea into a business is even harder. We consulted members of the Financial Poise Faculty—each a professional advisor or successful entrepreneur—to discuss what it takes to start a business and get it off of the ground.
With the unexpected ascension of President-elect Donald Trump, all eyes are on Washington to see how the new Trump White House will respond to the most pressing issues in the United States. Between immigration, national security and a new Supreme Court justice, there is no shortage of moves that require the nation’s attention.
Franchising is booming, as more and more people realize the multiple benefits it offers. Chances are you’ve already engaged with a franchise at some stage today, whether it was stopping in for your morning coffee or hitting the gym to burn it off. Franchising is now so developed that it tends to touch each and every one of us in our daily lives in many different forms. However, it may not be for you.
My point here is simple: when stupid idea after stupid idea attracts investors, it’s a forward indication that a market is too frothy. When a market sees repeated examples of industry participants making things up, it’s a forward indication that a market has become dangerous.
PP&E, or Property, Plant and Equipment (okay, this is definitely more than one word), is a vital component in the operation of your business. And for many businesses, PP&E can be one of the largest numbers on the balance sheet. PP&E may consist of land, building, equipment, furniture, computers… the list can (and does) go on and on. So what do you need to know about PP&E? Well, you need these fixed assets, so you buy them…the end. Oh, if it was only that simple.
Here are five mistakes that entrepreneurs should avoid when starting their own company. The more you know about them, the less of a chance you make them.
Nine out of every 10 startups fail. That’s the bleak truth. Here are five mistakes entrepreneurs should avoid when starting their own company — the more you know about them, the less of a chance you make them.
Scary Word No. 3: Cash – Well, it is only scary if you don’t have any. If you find yourself with a large amount of money at certain points during the month and then trying to make payroll the following week, when your cash position is at a much lower point, maybe we can offer some advice to get control over your cash. Hopefully, we may even help you improve your cash gap. Wait a second; that seems like a scary word. What is cash gap?