Startup Checklist

The Ultimate Startup Checklist

By combing the Interwebs, poring through my personal library, and applying my own experience in working with more than 100 startups, I’ve compiled this checklist of 25 items to review and consider as you launch your startup. I hope you find it useful. Decide whether starting a business is right for you and what kind … Read More

Questions to Ask When Starting a Business

The most important legal consideration when you are starting a business is to make sure that everyone knows where they stand with the company. The next step is to make sure that there is clear, written documentation of everyone’s status in the company. To do this correctly, first you have to consider all the relevant … Read More

The Stupidest Mistake Startups and Small Businesses Make

In Colorado, creating a new business entity is simple. It costs $50 and takes fifteen to twenty minutes to set up online. But just because it’s simple doesn’t mean people don’t get it wrong. In fact, many thousands of people get it wrong every year. In Colorado, every Limited Liability Company is required to include … Read More

When Does an S Corp Make Sense?

An S corporation is a business entity that combines many of the advantages of an LLC with the advantages of a corporation. Practically, the biggest hurdle for someone looking to start a corporation is the problem of double taxation. That is, paying taxes for the activities of the corporation and also for profits that are … Read More

Why Partnerships and Sole Proprietorships Rarely Makes Sense Today

According to the IRS, there are five types of business entities: Sole Proprietorships, Partnerships, Corporations, S Corporations, and Limited Liability Companies. Many state statutes allow for additional entities, such as Limited Liability Partnerships and L3Cs (You can register in Colorado as the former, not the latter). For the majority of entrepreneurs, the only real choices … Read More

Random State Incorporation is a Bad Idea

When I think of businesses that incorporate in any state other than their home state or Delaware, the expression that comes to mind is “too clever by half.” Unless there is a law prohibiting your business from operating in your home state or Delaware (for example, Amazon refuses to allow companies incorporated in certain states … Read More