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Business Planning Archives

5 Reasons Your Single-Member LLC Needs an Operating Agreement

An operating agreement is a contract that controls the operations of your limited liability company's internal affairs. This includes the interactions between the members of the LLC, it managers, and the limited liability company itself. You may think that an operating agreement is not necessary for your single-member LLC. After all, do you really need a written agreement with yourself?

When Is A Worker An Independent Contractor?

Many businesses prefer to hire workers as independent contractors because there's often less overhead and fewer expenses such as taxes. However, if you misclassify an employee as an independent contractor you could face big problems. Here's how the federal law differentiates between the two.

Are you ready to start your own business?

Many people dream of owning a business one day. Maybe you envision running a pizza restaurant with your spouse and kids and grandkids one day, or perhaps it is a sleek Tech startup you see yourself leading. Whatever it is you imagine, there are a few steps, often more than a few, to turn a daydream into reality.

Creating a successful business succession plan: Part 1

If you own a business in Colorado, one of the most important type of plans you should have concerns business succession. You need some form of arrangements in place to protect your business if something were to suddenly happen to you. Just ask yourself, what would happen to your company if you suffer a critical injury in a car accident or die from a heart attack? As depressing and unsettling as the thought of those situations are, thinking of them can help you to take measures to ensure your company's longevity long after you are gone. 

3 questions to ask yourself before buying a small business

Buying a business can be an exciting and overwhelming venture. In order to obtain the most benefits, however, you have to choose the right business to purchase. Which one is the right fit depends on the answers to several important questions you must ask.

Kids don't want to run the family business? You have options

When you started your company it was typical for the next generation to wait in line for taking over the family business. Now day's things are different. Adult children have more career options and small businesses have more resources for succession.

3 Big Decisions To Make When Keeping A Small Business In The Family

Entrepreneurs are risk-takers with a beneficial disregard for rules. Facing failure and then beating the odds is a hard task that only a few can accomplish. After a lifetime of work many small business owners want to keep their hard earned company and give it onto their children rather than sell it to a stranger. Passing on a business is a complicated task with a lot of implications. Prepare yourself first and the process will be a lot easier. Here are some essential points to consider when creating a business succession plan.

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Arvada, CO 80002

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