The One Thing Small-Business Owners Should Do to Safeguard Their Companies

Learn how forming a board of directors/advisors can protect your assets with Mark Kohler. Then, David Corbin inspires the next wave of business leaders.

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Will be used in accordance with our Privacy Policy
The One Thing Small-Business Owners Should Do to Safeguard Their Companies
Image credit: Mark Kohler
VIP Contributor
Host, Entrepreneur Radio
3 min read
Opinions expressed by Entrepreneur contributors are their own.

Mark Kohler dispenses critical advice for small corporations and LLCs; learn how forming a board of directors/advisors can protect your assets and save you money on taxes. Then, the "Mentor to Mentors," David Corbin, teaches a master class on becoming a prosperous, healthy, illuminated and unencumbered entrepreneur.

  • [00:00:00] Safeguard Your Small Corporation Today
  • [00:05:40] Overlooked Tax Write-Offs: Travel Deductions
  • [00:11:30] Don't Waste Energy Staying in Denial
  • [00:18:21] Guilty of First Degree Brand Slaughter
  • [00:25:50] How to Stimulate Positive Consumer Buzz
  • [00:33:22] Be Healthy, Be Serious, Get Naked

Related: Discover the Raw Talent of Millennials and Veterans

Discover more about segments and guests below ...

[00:00:00] Safeguard Your Small Corporation Today

Do you run a C Corp, S Corp or LLC? If you don't have an advisory board, your assets could be at risk, Mark Kohler, CPA and attorney at law for Kyler Kohler Ostermiller & Sorensen and Kohler & Eyre CPAs, has a practical and simple tip to safeguard your small business. 

[00:05:40] Overlooked Tax Write-Offs: Travel Deductions

Planning on taking an upcoming work vacation? Kohler sounds off on the power of the travel deduction, especially when coupled with advisory board meetings. From airfare and lodging, to meals and entertainment, find out what expenses you can write off on your next tax return.

[00:11:30] Don't Waste Energy Staying in Denial

If you only accentuate the positive and ignore the negative, your problems will multiply and resurface. President and chief illumination officer at Performance Technology Group and author of Illuminate: Harnessing the Positive Power of Negative Thinking, David Corbin, teaches us to examine issues using his "face it, follow it and fix it" model. Are you ready to tackle your issues head on? 

[00:18:21] Guilty of First Degree Brand Slaughter

Are you killing your brand? When the actions and behaviors of your company are incongruous with its essential ideals, you've committed the heinous crime of "brand slaughter." It's important to take inventory of how your business is interfacing with employees, customers and clients to ensure core values are upheld. Corbin, author of Preventing BrandSlaughter: How to Preserve, Support, and Grow Your Brand Asset Value, shares two cautionary tales of prominent businesses who failed to uphold brand integrity and faced consumer backlash.

[00:25:50] How to Stimulate Positive Consumer Buzz

Word-of-mouth advertising is a potent way to engage consumers and generate serious earning potential, but how do you turn a customer into a brand evangelist? Corbin, author of Psyched on Service: Building a Total Service Mentality, breaks down his top four principles to rise above the competition and better serve the needs of your clientele.

[00:33:22] Be Healthy, Be Serious, Get Naked

"I believe business today is at a break point with all of the characteristics of a breakdown, but all of the opportunities of a breakthrough." Corbin calls for 20 million new entrepreneurial jobs by 2020 to spare the U.S. economy from collapse. Corbin delivers a pep talk to the next wave of business leaders, asking them to "get naked" and honestly evaluate their skills, improve their physical and mental health, and get to work. Discover the motivation you need to start your entrepreneurial journey.

Entrepreneur Radio, hosted by award-winning broadcast professional, Alan Taylor, equips fans with the critical information necessary to grow their business through practical advice and thought-provoking interviews. Tune in live on Saturdays 2 p.m. EST/11 a.m. PST and Sundays 10 a.m. EST/7 a.m. PST and listen to weekly episodes on demand on Entrepreneur.com.

More from Entrepreneur

Get heaping discounts to books you love delivered straight to your inbox. We’ll feature a different book each week and share exclusive deals you won’t find anywhere else.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Create your business plan in half the time with twice the impact using Entrepreneur's BIZ PLANNING PLUS powered by LivePlan. Try risk free for 60 days.

Latest on Entrepreneur

Entrepreneur Media, Inc. values your privacy. In order to understand how people use our site generally, and to create more valuable experiences for you, we may collect data about your use of this site (both directly and through our partners). By continuing to use this site, you are agreeing to the use of that data. For more information on our data policies, please visit our Privacy Policy.