Law Blog: Quick Ideas

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May 10, 2017

Your business contracts could benefit from a downturn clause

As a business owner, you should always be looking for the most favorable language in your contract negotiations. Whether it be length of term, assignability, or pricing, you need to think about the ramifications of each section and what it could mean to your company. One often overlooked – and usually unknown – clause that […]

May 8, 2017

Don’t let advice determine your business’ direction

When you conceptualize new ideas for your business, you probably present them to friends, family and trusted advisors to get their take. Some of those people may tell you that it will never work; that the idea is flawed, or other companies are already doing it. While it’s always good to listen to criticism, don’t […]

May 5, 2017

Make sure you understand the rules on using fictitious names for your business

A fictitious business name is like an alias, where the legal name of the business is different from the name in the market. For example, “ABC Holdings, Inc.” might be the legal name, but in the public they go by “ABC Products”. Unfortunately, most business owners don’t know the actual rules on fictitious names, and […]

May 4, 2017

Back-up your business’ capital just like you back-up your data

Wouldn’t it be nice if you could fund your business by copying and pasting money like data? Obviously it doesn’t work that way, but you can learn a lesson from your data recovery plan (please tell me you have a data recovery plan??) You back up your data regularly to make sure that, if the […]

May 3, 2017

Your business really should have a mission statement

What does your mission statement say about your company? Better yet, do you even have a mission statement? First, let’s talk about why you want one. A mission statement has two primary uses. One, it tells your customers who you are and what you’re trying to accomplish as a company (besides making money, of course). […]

May 2, 2017

Don’t let doubt ruin the joy of having a small business

Every business owner eventually faces a time when a little seed of doubt sprouts like a weed and consumes their every thought. Don’t get overwhelmed by it. It’s natural to doubt; it might even be a healthy exercise. Doubt sales. Doubt staff. Doubt opportunities. Doubt technology. Just don’t doubt yourself. Remember… you’re your own best […]

May 1, 2017

Build an atmosphere where team members share everything

I recently read a story about a person who was upset that their child was “expected” to share toys with other children at a playground. One of her points was that people don’t share items at work (such as pens), so why teach kids to grow up thinking sharing is the norm. I couldn’t disagree with this […]

April 28, 2017

Multitasking is good, but staying focused is even better

As a business owner, it’s inevitable that multiple projects will require your attention simultaneously. There’s nothing wrong with being in the proverbial “two places at once”, but keep something in mind… you can either do a bunch of things we’ll, or one thing really, really well. Focus can be a virtue in the business world, […]

April 27, 2017

Hire people who disagree with you

One mistake small business owners tend to make is to surround themselves with people who agree with everything they say. The reality, however, is that no one’s perfect, and having a single alternative point of view is usually more valuable than a hundred concurrences. Different opinions should be embraced, not discouraged. Most employees will be […]

April 26, 2017

When hiring employees, be careful of employee “friends”

Large corporations often offer incentives to employees to recommend friends to apply for open positions. The friend benefits by possibly getting a job, the employee benefits by getting a bonus, and the business benefits by filling an open role. While this may work well in corporations where there isn’t much interactivity between employee and friend, […]

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