A lot of corporate executives who have been downsized in the economy downturn, especially those in their 40s and 50s, are looking to buy franchises. Their thinking seems to go something like this:
-- "My 401(k) has lost a ton of value, and there aren't any safe investments out there right now, so why not use at least some of what's left in my...Read more
"I was downsized from a corporate job about a year ago. I have never run my own business before, but I am realizing now there is no future for me in corporate America (I am over 50 years of age), so I am looking at entrepreneurial options.
"My outplacement firm recommended that I consider buying a franchise. The problem with franchises, ...Read more
"A couple of years ago, I was employed as the marketing director for a small, family-owned business. For several years in a row, this company saw huge increases in annual sales as a result of my efforts. Unfortunately, the owner died, and the owner's son who took over the business fired me for no reason and put his girlfriend in my position. I...Read more
"I'm widely considered an expert in a particular field and thinking of contributing an article to Wikipedia -- the online encyclopedia -- as a way of promoting my consulting practice. What are the legal ramifications of contributing to a Wiki, and how do I protect myself against liability?"
For those who don't know, a wiki is a collaborative ...Read more
We're almost at the end of January, and I'm willing to bet most of you have already given up on one or more of your New Year's resolutions.
The key to success with any resolution -- personal, business or otherwise -- is will power. We all start out with the best of intentions, but when you set a goal and fail to reach it, it's nearly always ...Read more
Having worked with over 20,000 small businesses and their owners over the course of the past 40 years, I see patterns that many other people aren't privileged to see.
I see patterns in the businesses that succeed, and I see patterns in the ones that crash and burn.
I've spoken about these in my column before, and have made some of them the ...Read more
"I am a 40-something professional with a somewhat unusual legal problem.
"While I am well-established in my profession, I moonlight as a semi-professional musician in my area, performing at local bars, clubs and restaurants. I released a CD of my music last year, which has been very well-received, and I'm starting to build a real following on...Read more
Entrepreneurs are today's American heroes, and that's a good thing. But too many people have an unrealistic picture in their heads of how things are going to go. They think that being a successful entrepreneur means they will be universally loved and rewarded, both financially and psychologically, and that everything will go on without a hitch...Read more
"Like the guy in Psalm 130, I am writing to you out of the depths of despair.
"I started a retail business last year involving a hot new technology. We needed some local real estate and found a pretty good location, but when our contractor inspected the space after we signed the lease, he discovered all kinds of environmental and structural ...Read more
"I have operated a service business for the past few years as a limited liability company (LLC) and have been quite successful.
"My accountant is recommending that I change my LLC so it's taxed like a subchapter S corporation. I understand she is trying to save me money on taxes by doing this, but I'm confused by what I'm reading on the ...Read more
"Your YouTube video on collecting from deadbeat clients was truly inspiring. I am an electrical contractor who is owed $3,000 from a customer located way on the other side of the state. His business is selling a product made by others and installed by electrical contractors such as myself. He has no business assets, works from home and has no ...Read more