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Articles to LIFT Your Life and Business

Avoid Business Litigation With These Six Steps

Business litigation is an expensive use of both time and money and should be avoided whenever possible. Even the most favorable of settlements can cost a business months—if not years—of productivity and focus. To avoid the high costs of litigation, follow these six preventive steps:   Don’t skimp on contracts. Instead of spending a fortune […]

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Ten Common Money Pits Even Brilliant Entrepreneurs Fall Into

If you’re relying on your top line to grow your wealth, you could be missing out on easy opportunities to save money and improve profits, independent of your revenue. Many entrepreneurs waste precious time and money by falling prey to these common mistakes. However, there is no need to sacrifice, work harder, or take on […]

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Opening a New Location? Follow These Three Steps First

Opening a new business location is an exciting venture. It also comes with inherent risks. A new site can increase profits and brand exposure, but it also opens up possibilities for failure. Rushing into expansion and opening a new location can do more harm than good if proper preparations are not made. Increase your chances […]

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Reducing Risk: 3 Business Agreements That Will Decrease Your Liability Risk

Those new to the business world often lack the first-hand experience of initiating and building healthy business relationships. But protecting these vital relationships with carefully crafted business agreements—such as those for co-owners, suppliers and clients—is essential to growing a new business without risk of being taken advantage of or of burning valuable bridges. To decrease […]

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Thinking About Small Business Bankruptcy? First Consider These Important Factors

Although often perceived as a worst case scenario, bankruptcy can be an appropriate way for small businesses to recover from unmanageable debt by reorganization, reducing personal liability or liquidating business assets. Sometimes small businesses (or their owners) must turn to bankruptcy when cash flow slows or business expenses cannot be met. There are three types […]

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Entrepreneurial Anguish: The Cost of Doing Business

Building a business empire, enterprise, or even just a start-up has its price. The image of the confident and charismatic CEO often falls short of reality. Before, during and after public visibility often comes personal self-doubt, anxiety and mental anguish. Many business owners don’t readily divulge the distress they feel because they don’t perceive it […]

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How to Approach Buying an Existing Business

Buying an existing business is a great way to hit the ground running in the world of entrepreneurship. Because an existing business already has a legal structure, employees, a customer base, and is making a profit, you get to skip over one of the most challenging aspects of owning a business – starting it. But […]

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Trade Secret Law Reform: The Basics

Many businesses maintain an industry advantage through control and utilization of trade secrets. Be it a formula, a design, or a process, trade secrets can provide advantages over the competition. Not surprisingly, trade secret misappropriation is a serious concern for many businesses. Until recently, it’s been state law at the forefront of regulating and protecting […]

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Insurance Considerations for Small Businesses

Opening a small business brings excitement as well as uncertainty. As a small business owner you face many risks, but there are steps you can take to protect yourself against them. Obtaining insurance coverage is one big way you can protect your small business and help minimize many of the risks you face. The kinds […]

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Can a Married Employee Name a 401(k) Beneficiary Other than a Spouse?

It can be very difficult for you, as an employer to manage a 401(k) retirement plan for your employees properly. Federal law is replete with mandates, including when employee funds must be remitted and statements made available to employees. One area you may not have considered is how to handle a married employee’s 401(k). Federal […]

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Drone Use in Business: What’s Likely and Legal?

In June, the Federal Aviation Administration (FAA) released its operational rules for the commercial use of drones, also known as unmanned aircraft (UAS). These rules provide clarity for businesses who may be contemplating the use of drones for commercial purposes. Perhaps the most well-publicized intended use for drones came from Amazon, the online retail giant. […]

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