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The Launch Blog: Expert Advice from the CorpNet Team
Ten Startup Podcasts for Today’s Modern Entrepreneur
It’s no surprise why today’s modern entrepreneurs like to listen to startup podcasts. Podcasts are portable -- a great way to get information when you can’t read but can listen. Often podcasts contain golden tidbits that you might not pick up in a written piece. Many startup podcasts include interviews with experienced business experts who can offer invaluable insights to help you grow your business in ways you never considered before. And best of all, they are usually free. Here are 10 startup podcasts to put on your listening list, along with a [...]
Recognizing and Managing Entrepreneurial Burnout
Every single business owner goes through periods where they've lost their oomph. Sometimes, it's due to a struggling business. Perhaps that growth curve has stagnated (or flatlined) or the feedback you're getting is that your product is all wrong. Perhaps your team is in conflict. Perhaps your expansion has failed, and you're having to go through layoffs or cutbacks or stop the growth of a new division. Oomph goes away for other reasons. One friend of mine found herself without the oomph to keep going because her business had succeeded. She had spent years [...]
Do I Need Articles of Organization For a Michigan LLC?
If you're considering forming a limited liability company (LLC) in Michigan, you're probably wondering what paperwork the state requires. For example, do you need Articles of Organization for a Michigan LLC? That's one of the common questions we field here at CorpNet—for Michigan and the other 49 states in the U.S. Articles of Organization – Michigan: Does Your LLC Need Them? The answer is yes. In the state of Michigan, an LLC must file an Articles of Organization form with the Corporations, Securities & Commercial Licensing Bureau of the Michigan Department of Licensing and [...]
Why a Business Mentor Can Impact Your Business
As a business owner, you want to use every advantage to help ensure success. One opportunity to consider is a business mentor. A business mentor is an entrepreneur with more experience than you and who’s there to help you achieve your goals. It’s someone with no stake in your company that you can trust to keep you moving ahead. Unlike business coaching, which usually is a limited engagement focused on specific business problems, with mentoring you can develop a relationship that lasts indefinitely and is personally and professionally rewarding to both parties. Why You [...]
Foreign LLC Registration and Management
Registering your business as a foreign LLC (also known as “foreign qualification”) is required under certain circumstances when you operate your business outside of the state in which you've formed your LLC. Despite the term "foreign," a foreign LLC operates domestically within the United States. Your LLC isn't considered foreign in the state in which you initially registered it, only in the states where you've expanded its operations. Breaking Down the Need for a Foreign LLC A few hypothetical scenarios of when you may need to file as a foreign LLC include: Your retail [...]
Dissolve an LLC With These Six Easy Steps
For a variety of reasons, entrepreneurs may decide to close the business they worked so hard to start and grow. Situations change and the need to dissolve an LLC or corporation may need to be addressed. An entrepreneur can grow tired of small business ownership or may simply want to retire. Possibly the business has been losing money or it isn't as profitable as it needs to be. Regardless of the reasons, an LLC needs to be dissolved in a formal and methodical manner. This task doesn't have to feel daunting. Our six easy steps [...]
Expert Advice for Registering a Business in Oregon
Have you been thinking about making your dream of starting your own business in the beautiful Pacific Northwest a reality but not sure how to begin? This post will help guide you through the process of registering a business in Oregon – one of the most scenic and culturally diverse states in the region. Registering a Business in Oregon - What You Need to Know Before we begin, realize the information going forward assumes that you have already decided that operating your business as a sole proprietorship or general partnership (if you will have multiple [...]
LLC vs. S Corp vs. C Corp
Yes, operating a business as a sole proprietor or general partnership offers simplicity, but that comes at the cost of not having separation between you as an individual and your company. Are there other options? What about the LLC vs. S Corp vs. C Corp? For entrepreneurs who want to protect their personal assets and have tax flexibility, registering as a type of legal business entity—such as LLC or S Corporation or C Corporation—is well-worth exploring. LLC vs. S Corp vs. C Corp - What’s the Difference Anyway? Continue reading because I’m going to break [...]
What Is a Trademark?
What is a trademark? A trademark is a word, phrase, symbol, or design (such as a business name or logo) that identifies the source of a product or service and distinguishes a brand from its competitors. Trademarks give owners of their marks protection from other businesses in the U.S. using those marks. Preventing confusion in the marketplace is the primary purpose of trademarks. To obtain a trademark, you must file an application with the U.S. Patent and Trademark Office (USPTO). If you're still asking "what is a trademark?" read on for more details. What [...]
20 Characteristics of Successful Entrepreneurs
There's a neverending debate on whether entrepreneurs are born or made. I don't claim to be able to make the call one way or another, but I have noticed several characteristics that the most successful small business owners seem to share. Here they are. Whether entrepreneurs are made or born, they all share similar characteristics. How many of these do you possess?
Closing Down a Business – The 12 Steps of Corporate Dissolution
You're not the first owner to consider closing down a business and you certainly won't be the last. But it is a big decision and one that should be taken lightly. Regardless of your final decision, you need to prepare yourself for the necessary steps involved in the process. Closing down a business requires a certain process be followed. This process is just as important as the steps required to start a business. I have not failed. I've just found 10,000 ways that won't work. ~ Thomas A Edison 12 Effective Steps for Closing Down [...]
Is a Multi-Member LLC Right For You?
The multi-member LLC is a Limited Liability Company with more than one owner. It is a separate legal entity from its owners, but not a separate tax entity. A business with multiple owners operates as a general partnership, by default, unless registered with the state as an LLC or corporation. Would it make sense for you to form your business as a multiple-member LLC? To arrive at that answer, you need to consider how choosing that business entity type will impact you legally, administratively, operationally, and from a tax perspective. I encourage you to [...]
How to Protect a Business Name
As an entrepreneur, my business name is my greatest asset. I have invested countless hours promoting my business. I have untold articles hoping people respond favorably when they hear the word "CorpNet." I have traveled across the United States, away from my husband and children, promoting my business name and its products and services. Thus, preventing others from using or "stealing" my brand name is of utmost importance to me. And, the quest to protect a business name should be important to you. Registering a Business Name Offers No Protection After speaking with several [...]
Breaking Down Business Entity Types
One of the most important steps you’ll need to make when starting your business is reviewing business entity types and deciding which one you should choose for your company. The structure you pick will affect your business from legal and tax obligation standpoints. That’s why it pays to understand the various business entity types—and the potential advantages and downsides of each. I recommend talking with a business attorney and accounting professional for guidance. In the meantime, I’m going to share some information about the most commonly used business structures to give you a head [...]
The Fail Proof Process for Incorporating in California
Have you considered incorporating in California but you're just not sure where to begin? As a California business owner, I’m excited to help guide other entrepreneurs get their companies up and running in this fine state. In this post, I’m going to walk you through the process of forming a corporation in California. But first, let’s take a look at the various kinds of corporations the state recognizes. Types of Corporations in California General For-Profit Corporation (General Stock Corporation) - A General For-Profit Corporation is a legal entity, separate from the shareholders who own its [...]