LLC Operating Agreement basics. An “operating agreement” for a limited liability company is just what the title says. It’s an “agreement” for how the legal part of the business will “operate.” So what to include in a basic LLC operating agreement? I’ll tell you. The […]
The logistics of setting up an IP holding company. To create a successful business you need two things: an idea, and execution. The IP holding company holds the right to monetize the successful idea of the business, while allowing some other entity to execute monetizing […]
Six ways to structure your contract fee? That’s a lot. But as you start pricing out jobs you may find that one method does not always fit what you’re trying to do for a client. Alternatively, if you’re the customer you should at least understand […]
Friends and family loans can be great resources to help your business start and grow. But there are the obvious pitfalls of dealing with family when it comes to money and your business. The main thing I advise my clients on when taking money for […]
LLC decision making: LLCs are unique in that “ownership” has two different meanings. First, it means the right to make decisions about how the business is operated. That’s called “Membership” and “Management”. Second is a right to receive profits from the LLC, that’s called an […]
The corporate conglomerate. This post discusses ways to organize a business structure when one business “owns” (informally speaking) several disparate businesses. I have a client that owns a transportation company, landscaping company, barricade rental, and some other seemingly unrelated companies. Each has their own insurable […]
In 25 years working with businesses of all sorts, I’ve never seen a “form” or “standard” or “basic” commercial lease. Don’t let anyone tell you otherwise, especially the landlord trying to convince you to sign a lease without reading it or negotiating key terms. Every […]