Many startup founders I know avoid establishing a formal board of advisors and directors for as long as possible, with the excuse that this is just another burden, or it has more risk than value to the founder. Related Article: Do you Need a Board of Advisers? In my experience, just the opposite is true, since […]
The role of CEO and President, and sometimes Chairman of the Board are often used interchangeably. In a small business this might be true, but each title has a different set of duties.
Corporations are legal entities that have stockholders and require a rather specific corporate structure to be compliant. The structure can be thought of like a pyramid with shareholders at the bottom, the board of directors in the middle, and officers at the top.
There are a number of common mistakes many founders make that can destroy everything they worked so hard to achieve. Most occur when there is some business success. Some mistakes are made out of ignorance during the initial filing process with the Secretary of State and others are the result of failing to finish the process.
How You Get Paid as An Office and Or Shareholder of an S-Corp Is Different. Here Is What You Need to Know About Getting Paid.
Over the past several months, I have attended dozens of networking events and what strikes me most is the lack of real understanding of how effective networking works. Many businesses think networking is just meeting people. Networking is much more than just meeting people and exchanging business cards! A properly constructed networking plan can lead to […]
I often encounter clients that want to create a non-profit business. They all too often think that the primary difference is just one pays taxes and the other does not. They think that as long as they have a social benefit, they can be considered a non-profit. However, there is a vast difference between their […]
In most businesses that employ a Board of Directors, the board consists of key employees of the company like the CEO, presidents, and vice presidents as well as key investors. Contrary to conventional wisdom, the smaller the board the stronger it is. When you have a big board, the power of the CEO increases since […]
When a business advances from stage 3 to stage 4, the business transformation is nearly complete. During stage 4, company decay can often begin to set in as the administration of the business is placed in the hands of a “guardian.” The primary motives of the business guardian are comfort and security. Unity towards a purpose […]
Tandy Leather was a family owned business located in Texas. Dave Tandy was a partner in a leather heel and shoe repair business which was founded in 1919. Charles Tandy, the son of Dave, took over the business after World War II and changed the business’s focus to leather craft after seeing how leather crafts […]