My Reading: November 14, 2013

My Reading: November 14, 2013

As I read my daily dose of information, I will share interesting articles here:

Entering into a business partnership is one of the most exciting steps someone can take.  However, a business partnership is a lot like a marriage–you need to know your partner before you sign that partnership agreement (and yes–you should have a written partnership agreement).  You will generally date your future spouse for months, even years before getting married so you get to know your future spouse quite well (I hope).  Before entering into a business partnership, you better do a little due diligence as well to make sure that the reslationship will work.  Here are 13 Questions to Ask a Potential Business Partner.

My Takeaway for Clients:  When entering into a business partnership, it is important to have a detailed discussion with potential partners.  Having a guided conversation with the assistance of an attorney can also help define roles, expectations, rights and responsibilities.

More than 70% of businesses in America are owned an operated by sole proprietors (even if they are set up as LLCs or S-corporations).  I am a solo and many of my clients are too.  I thought this post was very good advice:  Never Stop Marketing.  There are some other tips as well.

My Takeaway for Clients:  In the rush for completing paying work, we often forget about lining up other work.

Business Tip:  Set aside at least the equivalent of an hour a day to do marketing.  Even communicating with current clients about referrals counts as marketing.

Although I am an introvert to a certain extent, I recognize the value of conferences, networking events and educational sessions.  Here are some conferences for small business owners that have received good reviews.

My Takeaway for Clients:  Whether they are “must-attend” events, I will leave to you to decide.  But whether you go to these big national events or smaller regional or local events, I encourage business owners to take advantage of these events to build a network of referral sources and potential clients.