Converting from a single-member LLC to a Larger LLC

I recently had a question about what is involved in converting from a single member limited liability company (LLC) to a 2-person or larger LLC. The person wanted to know how easy or difficult it was because they wished to obtain equity in the LLC. The founder was showing reluctance to add him as a…

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How to Find Great Management Talent With Limited Funds

One complaint I hear a lot about from company owners is the difficulty they have in finding and enticing management talent to join them. Typically when I ask what did they offer when they encountered someone they thought would be a great fit, the said something akin to “I could not afford them”. That was…

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Top 10 Cities for Minority Entrepreneurs (Forbes magazine)

According to a recent ranking published in late March of this year by Forbes magazine (www.Forbes.com), the top 10 cities for minority entrepreneurs (and minority owned businesses and their owners) are as follows: 1. Atlanta 2. Baltimore 3. Nashville, Tennessee 4. Houston 5. Miami 6. Oklahoma City, Oklahoma 7. Riverside-San Bernardino-Ontario, California 8. Washington, D.C.…

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American Business Makeover: Makeover on Main (MSNBC)

I’m a fan and believer of working on your business, not just in it. This is the difference between being strategic and visionary and just running a small business that pays for your lifestyle. I also believe in learning from others’ mistakes whenever and where ever possible. Here is something I saw online where a…

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Interim Executive

I read a great article on the use of interim management to help your business. I actually was led to it through my twitter account. I thought I’d share it here. The title is “Not a Consultant, an Interim Executive” and it appeared on Bloomberg BusinessWeek. (Click on the title and the link will take…

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Get Motivated! Business Seminar

Get Motivated! Business Seminar is coming to Northeast Ohio. I believe this seminar travels around the country so check the website, www.getmotivated.com to see when it’s coming to a city and venue near you. I’m working on a project in Akron, Ohio so I’ll be attending the one in this area. It sounds interesting. There…

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City, County, State Opportunity Zones

The Georgia Department of Community Affairs (DCA) works with local and regional authorities to assess and determine opportunity zones. Why are these good for business? New or existing businesses located in an opportunity zone that hire at least two employees may receive an annual income tax credit of $3,500 for each job they create. The…

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Friends as Business Partners – narrated video

This narrated powerpoint presentation provides an explanation and overview on how to successfully build and maintain a friendship while creating and building a business or company together.

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10 Steps to a Successful Business Turnaround – Pt. 2

Step 6: Meet with your bankers and other lenders. With many lines of credit and term loans, a company must provide quarterly or monthly updates. So your bank or other lender will often notice the degradation in your finances before you do. They may not say anything but, believe me, they are watching. Therefore, it…

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How to Successfully Turnaround a Business: Ten Steps

If your business is in dire financial straits, you need to immediately turnaround your business. A turnaround is different from a restructuring in that it is much more comprehensive and very swift. To implement a successful turnaround, you must perform the following ten steps. It is optimal to do it in the order presented. Many…

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