For the love of your business

Articles to LIFT Your Life and Business

6 Considerations for Business Entity Selection

One of the most impactful decisions business owners will make is their selection of business entity – sole proprietorship, partnership, limited liability company (LLC) or corporation – for their company. This decision has important tax, legal and operational implications, so choosing the right entity is vital. Business owners have several choices when it comes to […]

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Succession Planning for the Family Business

We know that building a thriving family business takes a lot of hard work, and to ensure the business continues to thrive, it takes foresight and planning. When business owners are preparing to transition the business to the next generation of leadership, it is critical to have a well-considered succession plan to guide them. To […]

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Preparing Your Company for an Eventual (and Profitable) Sale

If you are a small business owner, chances are that most of your personal net worth is tied up in your business.  So even if selling your company is not on your radar anytime soon, there will come a day you will want to cash out and sell it at the best possible price. Even […]

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Asset Protection Strategies for Female Business Owners

Female-owned businesses are one of the fastest growing sectors of the U.S. economy, with the number of women-owned businesses doubling over the past 17 years, according to a recent Forbes article. Many women who run their own companies often do double-duty as CEOs of their families as well. The tendency for many is to leave […]

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How to Properly Structure a Founder’s Agreement for Your New Venture

How to Properly Structure a Founder’s Agreement for Your New Venture We are a nation of entrepreneurs, but we are also living in a litigious society, so if you are starting a new venture and there are other founders involved, a founder’s agreement is essential to protecting your fledgling enterprise.  Here are some tips on […]

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Avoid These Four Common Legal Mistakes If You Own a Business

Whether you are just starting a new business or have been running a business for years, there are four common legal mistakes that both novice and seasoned entrepreneurs make that can have a significant impact on the future viability of your company: Co-mingling of business and personal finances.  You may have started your business as […]

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How to Protect Your Legacy With a Business Succession Plan

Our state is rich with families who have started businesses here and watched them thrive through the generations.  However, there are also many examples of family businesses that have failed to weather the changes in generational management and ceased to exist.  In many cases, this could have been avoided through careful business succession planning. A […]

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How to Raise the Next Generation of Business Owners

If you own a small business, there is probably at least some part of you hoping to pass the reins on to one or more of your children.  After all, spending so much time and effort on something that’s not going to last doesn’t sit well with most entrepreneurs. It may be difficult to look […]

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Ensure the Longevity of Your Family Business

According to the Family Business Institute, less than one-third of family-owned businesses make it past the second generation of ownership and only 1 in 10 survives through three generations. Based on a New York Times study of family businesses, here are some tips on how you can ensure your family business survives: Reinvention.  Businesses that […]

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The 4 Legal Business Agreements Every Business Owner Needs

One of the most common questions business owners want to know is what kind of legal agreements they need.  And while the answer to this question depends a lot on what kind of business you operate, there are four key legal agreements that virtually every business owner will need to protect and operate their business […]

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3 Steps to Maximize Profits When Selling Your Company

If you are planning to sell your company now or sometime in the future, a recent Forbes.com article advises that there are 3 strategies you should use to get as much cash out of your hard work in building the business as possible: Pre-sale planning.  Look for opportunities to increase the sale price of your […]

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