Business Formation & Planning Services

If you are just starting a business, we can help you decide on the best legal entity to use, whether it might be a corporation, limited liability company or other form of organization. We help you with exit strategies and asset protection.

Entering into a new business venture can be a daunting task without the need to worry about getting all of the legal niceties in the right place. We will help you decide how you are going to approach the new venture so that you minimize your risks, and protect your assets. If you are going to incorporate, we will prepare your articles of incorporation and file them with the Secretary of State, prepare and file your public notice, obtain your minute book, seal, and stock certificates, prepare organization minutes and any needed shareholder agreements. We can also help you get a limited liability company up and running if you decide that is the way to go.  

 

Starting & Running a Successful Small Business

1. Are you ready to run a business? You won’t have the security of someone else giving you a paycheck every two weeks, or of having someone else give you assignments or provide you with work.

You have to: deal with insecurity and uncertainty, be a self-starter, and generate sales. Not everyone has the temperament to run a business.

2. What is your market? You need to do enough market research to see if you have a product that enough people will buy to make it worthwhile to invest your time and effort.

3. How much money do you need? You need to prepare an honest cash flow estimate (which becomes part of your business plan) to cover your costs of doing business and your living expenses. It can sometimes take months or years to begin showing a profit. You have to determine whether you need Mom and Dad, Rich Uncle Harry, or Well-Known Angel Investor to provide you with operating and start-up capital.

4. Protect your assets. Recognize that risk comes with operating a business and protect your personal assets from creditors. Operating under the umbrella of a corporation or limited liability company, observing certain legal formalities, and having an exit strategy can help protect you.

5. Make a business plan. So many things come up when you run a business that it is difficult to do any planning. A business plan is your road map. You should write a business plan in advance, even if it is short, to cover all of the above issues, when you will reach a breakeven point, how you will manage your business, the problems that you anticipate and how you will resolve them, where you expect to get your funding, and cash flow projections for at least one year.