Pursuing a business venture naturally involves risk. Eliminating all risk is not an option—there are many factors beyond your control, and it is impossible to prevent every circumstance that might deviate from your plans. Nevertheless, you can decrease the degree of...
The limited liability company (LLC) is a popular business structure for new businesses because it provides unique opportunities for customization. But what does it really mean to own an LLC? Here is what you should know about LLC ownership. The Basics The owners of...
Operating a business in the current climate has introduced many owners to incredible challenges. Across every state, including Minnesota and Wisconsin, business owners have struggled with temporary closures, shifts in operations, and new regulations and precautions...
Going into business for yourself is a risky endeavor. From investing in goods and services, to hiring employees, to simply carrying out the daily administrative tasks, each step can be fraught with risks and have the potential for exposing a business to litigation....
In the current environment, employers may be focused on everything from managing changes in the workforce to adjusting operations in response to state-ordered closures. With so much to think about, disagreements regarding contracts can be especially disruptive. If you...
Recent world health events have created difficult economic times. As a small business owner, you are probably experiencing additional pressure with people staying in and spending less, especially if you operate a store-front business that relies heavily on foot...
If you own a small business, developing your succession plan is a critical element of good business planning. Many business owners fail to appreciate the complexities and time involved in successfully transitioning a business. Busy with the day-to-day management of...
Any time an employee leaves a business, the departure has the potential to be disruptive. When the employee had access to confidential or proprietary information, or if the employee has a non-compete agreement, it can be particularly troubling. To minimize the chaos...
If you are starting a new business, one of your top concerns may be determining if, and to what extent your product or service will be successful. While it is impossible to predict the future, there are some methods you can use to get a better idea of how consumers...
One of the most significant obstacles new business owners face is lack of money. Financial limitations and demands make it very difficult for even the most promising company to flounder and potentially fail. As such, it is crucial for new business owners to minimize...