If you're in the unfortunate position to consider filing for bankruptcy, there are a few things to keep in mind before choosing what would be right for you and your business. It's important to know all the options before making any decisions. Check out this quick guide to see how each one differs, and which one would be most useful for your situation.
Any business, no matter what size, needs a proper succession plan for the future in order to be successful from generation to generation. A bad plan, or not having a plan at all can ruin all your hard work, as it did for the Stroh family. Stroh's beer was one of America's most impressive family fortunes and due to poor business decisions and bad investments, the massive beer empire disappeared in just two decades. Read here how the family could have prevented the downfall.
Starting a new business can be extremely difficult without motivation and the right support system. In fact, success for your business depends greatly on your confidence which is increased with the support of your family and friends. It is important that you make it clear to yourself as well as others how serious you are so they understand what your business means to you. Here are some tips to help you get started.
You may never have guessed that your legal and financial decisions can actually affect your marketing strategies. Well they can. Marketing your business is not just about how you advertise on social media - it comes up at every touchpoint you have with the client (i.e., in your contracts, emails, website, and over the phone). Having an efficient plan that gently covers all bases is the key.
Growing your business and building a stellar team to help you can be fulfilling in addition to fruitful. Yet, costly errors in management of that team can quickly change the outlook and cause you to bring your growth into question. In support of your role as an employer, check out some of the common mistakes we've seen made by others in the past, and enjoy our tips on how to avoid them.
To some it sounds daunting, but for anyone serious about growing their business, it's important to consider how incorporating can save you money on taxes and limit your liability for business debts. As well as much, much more!
Entrepreneurship requires much more than business plans and funding. It requires investment in your own emotional intelligence, which will help you take risks, promote your ideas and see them adopt, and be able to go with your gut when you have doubts. It's one of the hallmarks of being a great leader and lacking it can be costly.
Significant growth without proper planning can create extra costs and more work, potentially leaving your business vulnerable for the challenges resulting from success. Setting up your business for scalability ensures you can handle any rate of growth. Here are some tips to help you get started.