If you’re thinking about starting a business you’re going to need to think about the bottom line and making a profit as quickly as possible. Working with other businesses can help you quickly build your own business.
Aligning yourself with other business owners or companies can help you :
- shorten your learning curve;
- boost your new company’s credibility;
- expand your sales or distribution channels; and
- make it more difficult for competitors.
If you are a small business owner you can “team up” with one or more other small business owners, or you can “team up” with big companies! You might want to work with another business that does what your business does, or a business that provides products or services that are complimentary to your business. The opportunities are endless. (more…)
Once you know what your business is going to be, what you are going to call it, and the products or services you will be selling – you need to make sure you won’t be infringing on someone else’s protected idea or name! But before you spend money on hiring someone to do research for you, you can save money by doing some of the legwork yourself. Depending on where you plan on doing business and what your business will be, you may then need a professional to do further research and/or give you advice on your options. For example, just because a name is being used or trademarked by someone else, it doesn’t necessarily mean you can’t own it for another purpose.
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1. Be sure you are genuinely enthused about the idea of “making it work” with a home-based business. Being an entrepreneur is an exciting but challenging venture.
2. Research your product or service to determine if it will be a viable business and make you the money you need.
3. Make sure your new business’ name is available before you invest in product development or marketing. Start out by going on-line, calling your Secretary of State’s Office, and searching the U.S. Patent and Trademark Office’s website.
4. Protect your ideas! Consider asking people you share information with to sign a non-disclosure or confidentiality agreement before you reveal specifics.
5. Think twice before you offer others ownership in your business. Plan for a “business divorce” before you commit to a “business marriage.”
6. Surround yourself with the right legal and tax advisors. These individuals should not only have the necessary expertise, they should be passionate about your vision.
7. Make sure you determine what the right business entity is for you. There are several options available that can minimize your liability and protect your assets.
8. Work with a knowledgeable insurance professional to identify what type of insurance you need and the best policies available to you.
If you were one of the many Massachusetts residents whose home was recently hit hard by water damage, you might soon find yourself drowning in paperwork. Even if you have a great insurance agent to help you with the claims process, you still need to be legally savvy. And that starts with pulling out your homeowners and/or flood insurance policies and reading the fine print. (more…)
If your New Year’s Resolution is to get into better shape, you might be thinking about joining a gym or health club. But before you run with the idea, you’ll want to carefully review any contract you are asked to sign. Actually getting to the gym isn’t the biggest challenge, it’s bringing yourself up to speed on what to look for and look out for when dealing with a fitness center.
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