Showing posts from September, 2009

Incorporating Your Business

Incorporating is a big step, and its important to be ready. This is your first official declaration to the world that you are ready to start your business. In addition, this is when your money starts going to the government. There are resources to help you incorporate, and here I'll let you in on what I found.

There is a book by Nolo, "Incorporate your Business" which is quite helpful in understanding the reasoning behind incorporating and the difference between all the different kinds of formations. At the end of the book there are specific state pages which tells you the particulars of how to incorporate in each state and how the laws and fees differ.

Delaware is known as a corporate friendly state. Their courts are experienced and they have more refined and company friendly outcomes than most other states. Also the incorporation fees in Delaware are relatively low and you are able to perform a name search online for free and real time.

Here is a great guide from…

Losing a Business Partner and Moving on

On July 6th I had written a post about taking on a business partner. Unfortunately that relationship has come untied. But alas, with every life experience comes learning that is best applied later in life.

I had thought my relationship with my business partner was beyond paper. We had trust and understanding, and a passion for entrepreneurship that we shared together. And then one day I receive an email that erased all of it. From happily coasting along, I received an email that single handedly broke down my world. It was an email that dismantled our partnership.

As a full time entrepreneur your work is your passion. If an individual wants to make money, find a good paying job. If an individual wants to create a business and make a difference, they create a company. It's hard to separate your heart from your business at that point. The question still looms of, do you have to? Ask a VC, and the answer will probably be "yes". Investors are out to make money, most…