Our services include management consulting and mentoring for small business startups and small and emerging businesses, including:
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Entity Selection: Structure your business for optimum financial and fiscal advantage. How you set up your new business can have enormous consequences, both good and bad, over time. It can impact the taxes you pay, liability you assume, financing you seek, costs you incur, and profits you make.
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Business Planning: Let's chart a clear course for your business journey through structured planning. I'll simplify the process, enabling you to create, own, and execute plans that align perfectly with your vision and mission, keeping you focused and on track.
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Financial Projections: Financial stability is the backbone of a thriving business. Together, we'll break down the numbers, pointing out what's successful and what's not. I'll identify more profitable price points, pursue investments, and locate potential savings.
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Resource Optizimation: Limited resources, such as workforce, technology, or capital, can hinder small businesses from achieving their full potential. Finding ways to optimize resource allocation, streamline processes, and leverage technology can help overcome these challenges.
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Seeking Business Financing: Banks are not lending, so it's common to feel discouraged when your business loan application gets rejected. Many diligent business owners approach banks for financing, and unfortunately, they don't always get approved for the funds they need to sustain or grow their businesses.
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Navigating Government Regulations: Small businesses often have to navigate complex and ever-changing government regulations, which can be time-consuming and costly. Compliance with tax laws, employment regulations, licensing requirements, and industry-specific regulations can pose significant challenges. These are just a few examples of the challenges small businesses may face. Assessing your situation and seeking tailored solutions to address these challenges effectively is essential.
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Legal Requirements: Running a business can be complex, with legal issues. Here are seven common problems we can assist with:
1. Licensing: Ensure your small business is licensed to comply with local regulations and avoid fees. Contact a local agency, lawyer, or accountant for any questions.
2. Trademarks: Research before naming or launching new products or services to avoid legal issues with trademarks. Another business may already own the brand, and infringing on it can lead to trouble.
3. Employee Termination: To avoid financial loss, terminate employees who are not a good fit or are underqualified. Document disciplinary actions and ensure the employment terms are apparent in the employee manual. If unsure, consult with an attorney to minimize legal risks.
4. Misclassification: Misclassifying employees as contractors is a severe problem for compliance, workers, employers, and the economy. Ensure correct classification.
5. Shareholders' Agreement: A shareholder agreement is highly recommended for businesses with multiple shareholders. It can prevent legal disputes in case of future split or sale of the company and avoid ambiguity regarding the distribution of assets. It is advisable to seek the assistance of a lawyer with relevant experience in drafting or overseeing the agreement.
6. Overtime Disputes: Set clear overtime rules and require approval beforehand to avoid legal and financial issues.
7. Litigiousness: This is an issue that you can control. Avoid rushing into a lawsuit, which can result in high legal fees. Try to negotiate and settle disputes outside of court. Need help preventing any of these issues from impacting your business?
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Tax Planning & Coaching: Significantly Reduce Your Taxes, Take control of your finances with the help of our team of expert tax strategists. My professional strategic partner will guide you through the complex tax system and provide personalized solutions to maximize your returns. Schedule an appointment today for a skilled and efficient experience that will leave you confident about your financial future.
