Entrepreneurs– Commit Yourself to the Turn

Entrepreneurs– Commit Yourself to the Turn

Much like downhill skiing, changing direction in business requires “committing yourself to the turn.” If you stick with the turn and work through it, you’ll find yourself heading the right direction. However, if you waiver, you might find yourself facing a steep downhill slope—literally or metaphorically. To keep your organization moving in the right direction, stick with your decisions and see them through, even if there are some consequences. Once you work through the hard parts, your journey could be down gentler slopes.

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New Business? Which Entity Type is Right for me?

New Business? Which Entity Type is Right for me?

When establishing a business, it is important to consider what type of entity your business will be. Aren’t they all the same, you ask? Why no, they are not. Your accountant can be very helpful in determining what type of entity your business should be, as well as helping you to file the proper paperwork. According to Kelly Phillips Erb at Forbes, “entity choice can determine shareholder & partner numbers and identity; equity structure, control & management, as well as what kind of funding you might be eligible to receive.”

The following are types of entities:

Sole Proprietorship
General & Limited Partnerships
Limited Liability […] Read more