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Most Recent Questions

What is it really like to be an entrepreneur?

It’s the greatest job in the world. In all seriousness, I think great entrepreneurship is one of the best and most creative endeavors one can engage in, because you not only get the full fruits... (more)

What's the best way to fire an employee?

Based on your desire to be most kind, I am going to assume that you are terminating someone's employment because you have no other choice, likely for one of these reasons" 1. A lack of... (more)

Do employee reward programs really increase motivation and productivity?

My best advice is that you read Daniel Pink's book, "Drive." Pink has done extensive research into the area of motivation in the workplace. He says that there are three forms of... (more)

How do I approach store owners about carrying my product?

What you really need to do is test and measure a number of different ways of getting to your potential customers. For you, I would say it's as simple as creating baskets for your target (from a... (more)

What's the most important skill for an entrepreneur to have?

There are a good number of skills that are important. But in any business, nothing happens until a sale is made, so I would say the number one skill is learning to sell -- or how to sell better.... (more)

How should I compensate a silent investor?

It sounds as if you are looking for an angel investor to help launch your business. Angels typically are affluent individuals that provide capital in exchange for equity ownership or convertible... (more)

How can I get media coverage for my company?

The media loves something unique, so the more unique your pitch, the greater the chance you'll get coverage. Another good tactic -- especially around the holiday season -- is tying in with a... (more)

I have a great idea for a business, how can I raise the money to launch it?

Having a good idea is important but it is only one step in the process of starting a business. There are many other elements that are required which include a business plan, a team, capital, a... (more)

How do I value a partner's share in a privately-held S corp?

This is a very important question and one that involves a significant amount of analysis as you want to recognize the full value of your portion of the company. To reach a specific valuation,... (more)

What's the difference between a franchise, license and affiliation?

These are basically legal terms that differentiate the type of business entity for purposes of defining how much disclosure is required to be made to a prospective buyer. A franchise is a license... (more)

Is my franchise agreement void if the entire company went bankrupt?

Whether your franchise agreement can be voided depends on what it says. First, you will want to look for language that indicates whether or not the franchise agreement (or certain provisions)... (more)

When converting from an IRA to a Roth, do I have to file self-employment tax?

The Roth IRA conversion is a great opportunity but it is really important to understand the mechanics of the process and the economics as applied to your specific financial situation. To... (more)

How can I find a sponsor for my social networking site?

The best thing you can do is generate traffic -- specifically traffic that increases month after month. The next thing you can do is focus on getting targeted traffic, that is, making sure that... (more)

Is it legal for my company put me on retainer indefinitely?

In many states, the general rule is that employees are hired "at will," which means that the company can let them go at any time and the employee can choose to go at any time. With... (more)

Does a business partnership have to be legally formalized?

Generally, filing business certificates with your county clerk (or secretary of state) does not absolutely require a lawyer's help. If it did, all of the online business filing companies you see... (more)

What do I need to know before I buy a franchise?

This is one of those questions that's quick to ask but involves a long, multi-part answer if you want the full scoop. I'll try to give you the quick and dirty answer. What you want to see in... (more)

Should I worry that the franchise I'm interested in is closing some locations?

This shouldn't cause you any more worry than if you were sailing on the Titanic's maiden voyage. Okay -- seriously, this is very troublesome indeed. This franchise system has lost about 13... (more)

How can I network with like-minded entrepreneurs?

Networking is all about relationships. Networking with like minded-entrepreneurs (whether face to face or online) begins with understanding the VCP Process. Any successful relationship, whether... (more)

What's the fastest way to build useful contacts from scratch?

First, how many old contacts do you already know that can help you in your venture? It's always easier to go back and rebuild old contacts then it is to build new relationships. However, if you... (more)

As a landlord, can I terminate a commercial lease due to an unfit lessee?

As a landlord, you have the right to carve out certain pre-conditions to leasing your premises—such as a clean criminal background check or a credit check. If you did not carve out these... (more)
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