Nathan and I were meeting with one of our trusty business mentors for lunch the other day, and we started talking about some of Nathan's new logo designs for Natril Gear. Our mentor told us to be very careful with our logo, because he said it could wind up being more important and recognizable than our business's NAME. Woah!
The lawyer I spoke with who told me about profit-sharing partnerships also suggested a second idea that could help us get professional help and also save money: offer a retainer.
Recently, someone recommended a great and creative solution to the dilemma of forming a team when you don't have much money, and I want to share that solution with you.
Nathan and I have been getting an increasing amount of feedback about the way we are starting our business…or NOT starting it. While some people are applauding our efforts, others are scratching their heads and saying, “Why haven’t you guys started yet? It’s been over a month now.” So I wanted to talk about our business start-up strategy so you can see our reasoning.
Finances are an area you don't want to play around with because there can be very serious repercussions for even honest, innocent mistakes. A CPA is a fantastic counselor to have on your team. Even though they have a relatively high hourly rate, they will add immense value and take away the stress of having to make financial decisions on your own when you're not ready yet.
Nathan and I have recently hired a lawyer for our business. Personally, I'm kind-of impressed with myself for having gone through the process and come out the other side successful. I've never met with a lawyer in my life, much less hired one. I wanted to share my experience with you to help you as you interview and hire lawyers for your small (or large) business.
One of the things that will really help get a new business off to a good start is a business plan. If you’re like me, you’ve never heard of this before, but don’t worry, they’re not too hard.
I feel the same way right now about lawyers, accountants, insurance agents, manufacturers, business owners, and the Small Business Administration – THEY ARE SO GREAT! The difference is that this time I was the one who was worried they'd be mean, not other people, but maybe that just makes it a double bonus to prove myself wrong.
We had 14 hard-hitting questions, and as excited as I was to find out what Nathan was thinking, I also had some butterflies in my tummy when we started.
So, first off, I have a big, awesome announcement to make for this post: We officially have a name!!