Although being online is one of the best ways to market a company, many companies struggle to make money from it. While some companies are able to turn their company’s web presence into a successful marketing tool, others are still struggling with this issue. Here are five tips on how you can make money from your company’s online presence today. Read more here...
If you're thinking about starting your own business, you must have a distinct vision for success. Many would-be entrepreneurs start the business field with exaggerated hopes for success.
You must approach your new endeavor with an open mind, just like any serious endeavor. In light of this, the following eight queries should help you decide if company ownership is the correct career route.
Using independent contractors (ICs) can give your company an edge in today's thriving gig economy, but if you're 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 business if not handled properly.
“Very few companies recognize the value of their intellectual property, nor have they secured an IP strategy that mirrors their long-term corporate strategy to maximize this value,” said Brian Hinman. Without legal protections, your IP is at risk of being stolen by your competitors, hackers, and even your own employees, vendors, independent contractors, or clients. Worse yet, if you don’t take your IP seriously, you are likely undervaluing your greatest assets.
The constant whirlwind of excitement and activity surrounding the launch of your startup can leave you feeling overwhelmed. You can get so focused on the day-to-day tasks and responsibilities of getting your operation up and running that you neglect some of your company's most vital legal components. Because you're so busy and likely not generating much revenue during the startup phase, it may be tempting to try to handle everything on your own and not seek out the support of a business lawyer.
You may be wondering why you need to hire a lawyer to help you run your company. This is true today when you can access just about every conceivable legal document online for cheap from the countless online do-it-yourself document services. But without the guidance and support of trusted legal counsel, you're likely not aware of all the ways your business is leaking money, putting yourself and your family at risk, and possibly limiting the positive impact you have on the lives of your clients.
Too many start-ups fail to make the transition from idea to execution or encounter major setbacks along the way. In the midst of developing your growing start-up, don’t make the common mistake of disregarding tedious, but vital tasks such as making sure all your legal, insurance, financial, and tax ducks are in a row. Establishing a solid legal system can help you avoid costly mistakes and save time and stress down the road.
Don't let what happened to Bob Ross's family happen to yours. If you own a business, it's crucial to put in place an effective estate plan and should be properly coordinated with your business agreements to ensure that all of your wealth and assets will be passed on to your loved ones in the event of your death or incapacity. Failure to do this could lead them in the same situation as Bob's son, Steve, who's left with nothing, while the business built by his father continues to earn every year.
Bob Ross's philosophy in both painting and life was that there "were no mistakes in life… just happy little accidents." Sadly, as detailed in the recent Netflix documentary Bob Ross: Happy Accidents, Betrayal & Greed, Bob's failure to coordinate his business agreements with his estate plan was anything but happy, leaving his only son unable to benefit from his father's fame and fortune. His planning failures have led to an ugly court battle between his former business partners and his family.
Growing your small business can be tricky. In fact, rapid growth can actually harm your company if you don't plan properly. And, even if you've implemented processes, technology, and outsourcing to deliver your core product or service and maximize growth efficiently, your company is still at risk if it doesn't have effective legal, insurance, tax, and financial (LIFT) systems. In fact, without solid LIFT systems, your business is just one accident, audit, or lawsuit away from ruin.