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Three Cheers For Entrepreneurs

By Cathy Moran

Entrepreneurs

Let’s hear it for entrepreneurs.  Those brave, tireless people with a dream who start or run small businesses.

They possess more energy and perseverance than most of us.  They form the backbone of our economy.

In honor of National Entrepreneurs Day, November 20th, let’s recap Soapbox’s best on being in business for yourself.

It’s probably not surprising that I like entrepreneurs, because I’m  an entrepreneur too.  I opened up my general law practice the day after I was admitted to the California bar.

Over the years, the focus of my law practice has narrowed as I’ve become an insolvency specialist, but I have always worked for myself.

So, small business folk are some of my favorite clients.

Clients I tend to see in my professional role when business struggles.  Here’s what I’ve learned about small businesses and the hardy folk who run them.

business divorceYour business needs a prenup

Anytime you pool your money with someone else, you need a written agreement about how you unwind the joint venture.  Just like marriage, business life changes and today’s partnership may not work at some point in the future.

 

small businessFive mistakes to avoid for success in your business

Culled from my four decades of advising business people, these five things stand out as reasons businesses don’t succeed.  Here’s what NOT to do if you want your business to survive and thrive.

 

incorporation protectsYou’re incorporating for the wrong reason

The best reason to incorporate your business isn’t to protect yourself from the debts of the corporation.  It’s just the opposite: incorporate to protect the business from your debts.

 

How to avoid being on the hook for business debts

You incorporate to limit you exposure to debts of the business.  Don’t throw the benefits of incorporation away by the way you sign corporate contracts.

 

Four essential habits for successful entrepreneurship

Here are four unsexy, but absolutely essential, habits to cultivate in business.  Adopt them from the start of your business:  well begun is half done.

 

Alternatives when the business struggles

closing businessThe hardest choice facing an entrepreneur involves failing.  Take a look at the alternatives available when it seems the business has no future.

 

Here’s hoping we never meet professionally.  Savor National Entrepreneur Day.

 

 

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  • Double Dipping On Retirement SavingsDouble Dipping On Retirement Savings
  • How To Save Your House After Filing BankruptcyHow To Save Your House After Filing Bankruptcy
  • We Live In An Economic House Of CardsWe Live In An Economic House Of Cards
  • Out of Luck If You Skip A Creditor?Out of Luck If You Skip A Creditor?

Filed Under: Featured, Small business Tagged With: 2018

About Cathy Moran

I'm a veteran bankruptcy lawyer and consumer advocate in California's Silicon Valley. I write, teach, and speak in the hopes of expanding understanding of how bankruptcy can make life better in a family's future.

Bankruptcy Basics

About The Soapbox

You’ve arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said “try”).

Here, I allow myself to tell stories and express strong opinions. We dig deeper into how to consider bankruptcy and navigate a bankruptcy case.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

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