Recently I have had the wonderful opportunity to learn some valuable business lessons—dealing with recent opposition to my company Flugelbauer Piano Supply. If you are planning on starting a business, especially a partnership, you will find the following tips very valuable:
Put Your Business In Writing
It may seem difficult, but put all of your ideas, and especially your agreements, in writing—even if it is as simple as hand-writing on a napkin
Protect Your Business Names And Marks
Register your business name with the United States Patent Office to ensure that you control ownership, and register your business with state and local authorities to ensure that you have legal control of your business
Get A Good Accountant
A good accountant is worth top-dollar not only because of the money they will save you on your taxes, but also because of the protection they can provide against the IRS and other accounting legal matters
Also, get a good accounting software (I recommend Quick Books) to keep track of your business expenses—this will keep your accounting bill down
Don't try and do your own business taxes—this will come back to haunt you
Get Legal Advice From An Attorney
Be careful when it comes to attorneys, they will do anything you pay them to, but what they may suggest might not be in your best interest—do your own homework and make sure that you are doing the right thing
Legal action is expensive and troublesome—make sure your attorney is clear about what you want to accomplish
Saturday, August 22, 2009
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