If you must work in order to earn your income, you need to have disability insurance. That said, purchasing such insurance is a “buyer beware” situation. This is because when it comes to most disability insurance policies, you must be aware of the numerous pitfalls that come with acquiring covera...
Setting up the right legal structure for your business may seem like a boring detail that you don't need to spend much time on. But, in reality, selecting the right entity for your company is one of the most critical decisions you can make as a business owner.That said, there are all sorts of myt...
While you may think of your team as family and believe that they would never sue you, lawsuits filed by employees are actually one of the most common causes of litigation for small businesses. In fact, nearly one in every five small businesses will get sued by an employee at some point. Of all ty...
Putting in place the right types and amounts of business insurance is a key part of your company's risk-mitigation and asset-protection foundation. However, like other foundational business systems, if your business insurance isn't regularly reviewed and updated as your operation grows, your cove...
Using independent contractors (ICs) can give your company an edge in today's thriving gig economy, but if you are not careful, contractors can also be a serious liability. In fact, working with ICs comes with a number of unique legal and financial risks that can be potentially ruinous to your bus...
When you run your own business, oftentimes one of the most confusing aspects of the job, especially if you are new to the experience, is understanding how to separate yourself from your business. And this issue can show up in so many ways, from achieving a work/life balance and managing your time...
If you dream of one day leaving your company to your family, but you haven't properly included your business in your estate plan, that dream could become a nightmare for your heirs—and for your partners, team members, and clients, too. In fact, properly planning for what would happen to your busi...
One day, you will leave your business. You will exit either voluntarily (through sale or retirement) or involuntarily (through death, disability, bankruptcy, liquidation, or fire sale). As a business owner, you must have a good understanding of each of the three key elements to every successful ...
We are pleased to announce the launch of Business Armor, our new proactive business compliance service created specifically for small business owners. Business Armor is designed to help you focus your time and energy on running your business, rather than chasing after the tedious but critical ba...
There are numerous advantages to running your own business: being your own boss, setting your own hours, and getting to decide who you work with and what you work on. However, business ownership can also be one of the most stressful endeavors you'll ever undertake in your life. While running your...
Regardless of the industry you are in, the reality of being a business owner is that you open yourself up to a number of unique risks that most people don't have to worry about—and the more successful your business is, the more risks you face. Unfortunately, most business owners aren't fully a...
Outside of personal liability protection, one of the primary advantages of setting your business up as a Limited Liability Company (LLC) is flexibility in how your company is taxed. And many business owners elect to have their LLC taxed as an S Corporation (S-Corp) to save money on payroll taxes....
If you are thinking of starting a business, you'll find all sorts of advice about how to go about getting your new venture off the ground. Indeed, there are entire websites devoted to the topic. Yet, with so much information out there, it's hard to know what you should heed and what you can ignor...
Establishing and enforcing healthy professional boundaries with your clients is critical for all business owners, especially if you own your own business and work from home, where the lines between work and home life are easily blurred. Unless you set and enforce healthy boundaries, rather tha...
Few business owners are legal experts. Yet many act like they are attorneys when it comes to their legal agreements by thinking they can simply wing it and create their own contracts or rely on cheap, fill-in-the-blank legal forms they purchase online.However, this is playing with fire. In fact, ...
As a business owner, it's inevitable that you will face minor conflicts and disputes at some point. Whether it's a client who refuses to pay a bill, an independent contractor who fails to fulfill the terms of their agreement, or a vendor who stiffs you on an order, dealing with such issues is a s...
When running a small business, every dollar counts, so it's critical to keep a tight rein on your expenses, especially when you are just starting out and have limited revenue. If not monitored carefully, spending can quickly get out of control and put a serious strain on your operation's financia...
If you have yet to put in place an estate and succession plan for your business, you're going to leave the people you love most—your clients, your customers, your team, and your family—in a bad situation when something happens to you. And while that probably won't be tomorrow, it could be. We get...
When it comes to your company's brand identity, nothing is more vital to your company than its name. By developing a highly catchy name for your business, you can quickly get your company recognized, remembered, and respected.That said, coming up with the right name for your company involves a nu...
Of all the different choices you have to make when starting a new business, arguably none is more critical or has a more significant impact on your success or failure than your choice of business entity structure. The entity you choose will affect everything from the amount of taxes you pay and t...
Of all the different choices you must make when starting a new business, arguably none is more critical or has a more significant impact on your success or failure than your choice of business entity structure. The entity you choose will affect everything from the amount of taxes you pay and the ...
Along with websites, e-newsletters, and social media, in today's digital-everything world, many companies now have their own mobile apps. In fact, some companies' primary digital platform is their mobile app. And like smartphones, iPads, e-tablets, and other mobile devices become more popular, ha...
Although intellectual property (IP) has always been an essential part of most companies' overall value, with the rapid rise of internet-based technology and e-commerce over the last few decades, IP is increasingly becoming the primary source of value for businesses both large and small.In fact, s...
When you are just starting your business, it's easy to lose sight of just how many potential risks your company faces. Yet a single accident or lawsuit can wipe out your company before it even has the chance to get off the ground. While setting up a business entity like a limited liability compan...
You've most likely dedicated significant time and energy to visioning your business, executing your vision, and even writing up a business plan for the growth of your business. Yet far fewer business owners put the same amount of effort into planning for their company's continued success followin...