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.
The entire process to register your trademark often takes many months and sometimes over a year to complete. So if you see a service promising to trademark your brand in mere minutes or even that same day, that’s a big red flag. Working with an experienced lawyer to support and advise you throughout the registration process is the best thing to protect your business. But if you decide to take the DIY route, at least now you know some of the warning signs to watch for to avoid getting scammed.
Establishing and running a successful small business is an extremely rewarding experience. For small business owners, deciding when and how to sell your business is arguably even more consequential, but if you're guided by the right factors that should be considered before putting up the proverbial for sale sign, you can smoothly transition ownership of the small business you spent your lifetime building —and you can begin the next chapter of your life.
There's nothing like a major change in the economic climate to make you rethink your job. A steady job is not necessarily a sure thing - if you're in a place of transition with your life and career, it could be the right time to take the leap and start working for yourself, building your own business, and becoming the boss you always wish you had. But it's always the best way to consult a trusted legal professional before making your final decision in starting your business as a solo(preneur).