Summary: Obama may have won the 2008 election, but what does that mean for small business? Check out some of the buzz about upcoming entrepreneurial expectations, fears, and hopes, and then weigh in and discuss how you think your business will be affected by an Obama presidency. I think enough time has gone by now that plenty of folks have weighed in on President-Elect Obama and the potential impact [...]

Summary: Do you take your online business seriously, or are you setting yourself up for failure? Find out why you need to treat your online business as a real business venture and not a casual hobby (such as blogging for profit) if you want to reap the most rewards and keep it all legal. I know there are plenty of “serious” online ventures. At the same time I think there are infinitely [...]

Summary: Maybe your business has grown, or maybe you just realize you could use some specialized help (such as in keeping the books). No matter the reason, you’ve decided that it’s time to hire some help. Should you hire an employee or an independent contractor? Let’s look at some pros and cons of each. When deciding whether to hire an employee or an independent contractor (such [...]

Summary: As an entrepreneur, if someone approached you today and offered you full-time employment with their company with higher pay than you earn through your small business, would you close your business and take the job? I stumbled across a Wall Street Journal article today that I want to share with you: Owners Wouldn’t Quit for More Money Ironically, I was just having a conversation with [...]

Summary: US small business owners are worried about inflation and the weakening economy. As an entrepreneur, what are your biggest business concerns right now? I came across an article from Reuters this morning talking about the small business outlook on the US economy, and how apparently it’s the worst it’s been since 1980. Read the article.As a small business owner in the US, how do you [...]

No matter what type of business you’re in, you probably need to use some kind of business forms – anything from invoices and contracts to HR forms for employee management and recruitment. With legal forms, I’d recommend you consider hiring an attorney who knows your local laws. Yet there are many type of business forms that you can find for free on the Web. Here are a few places to [...]

If you’re interested in starting or buying a franchise of an existing company, there are a lot of options to choose from (from restaurants to cleaning services). How do you find solid franchise opportunities that don’t disappoint? First, you need to understand some of the factors that make a good franchise opportunity: The parent company actively participates in the marketing of their [...]

Obviously the simple answer is “no,” because others have gone on to run highly successful businesses without a formal education. However, the fact still remains that those people tend to be the exception; not the rule. Some industries not only highly benefit from formal education, but it can be required for licensing (medical and legal fields for example). Others don’t require a formal [...]

LLCs are a popular legal business form for small businesses. Discover what LLCs are, and what their advantages and disadvantages as a business model are. What is an LLC? LLC stands for “limited liability company.” LLCs have become the legal business structure of choice for many small business owners, because they combine some of the advantages of various other legal business forms. Pros [...]

If you plan to operate your business on your own, a sole proprietorship may be an acceptable and appropriate legal business form for your needs. Find out what sole proprietorships are, and whether or not that legal business form would suit your small business. What is a Sole Proprietorship? A sole proprietorship is a business with only one owner, that’s not a corporation of any kind. Many business [...]