Starting And Growing A Successful Business

Starting, growing, improving and maintaining a business requires effort and dedication. It is a long process that is only good for the hard-hearted considering that business is a mix of sunning and rainy days. You will need to be a strong person to remain positive even during the stormy times of the business. A strategy and a plan for the business will also play an important role in just how good and successful the business will be. Apart from personal characteristics, you will also need to make crucial business decisions and come up with campaigns that gain the best for the business.

Time management, business model, advertising, branding, financial management, employee wellness and using technology to your advantage are a few of the huge list of things that you will need to do with a business to make it successful. The truth is that failing on one aspect of prospering the business can drag you behind and even make you fail in doing what you initially had in mind. Sometimes, you will need insight from experts to find your way through the millions of business paths that pop up on your way to success. As a business grows, more needs come up and without proper directions and management, it can be easy to lose focus. Fortunately, there are expert business coaches who can help you out.

Best Business Coaches – Meir Ezra

One good example of a business coach who can guide you into personal and business prosperity is Meir Ezra. He is a business coach and a mentor for many as well as a successful businessman who knows it all when it comes to handling it in the right way. This coach successfully runs a total of 24 companies in 27 different countries. He is therefore without a doubt one of the best people that you can have as business mentors to kick start your business or boost it pushing it to its full potential. He holds business seminars which are very resourceful to businessmen. Those who have attended some of the seminars come out oozing business ideas and strategies which work once they hit their market again.

From the seminars, you will learn some of the best ways through which you can improve at a personal level, making you a better manager of the business and ways through which you can make your business soar. It is a fact that simple mistakes done in dealing with different issues can determine the success of the business. The Meir Ezra seminars will help you in avoiding the common mistakes most businessmen make in running a business. With his years of experience in different business fields, he understands the business world too well and he will help to open your business eyes to greater opportunities through planned and worked out strategies. Whether you are starting or already in business, you will draw a lot of insight from this coach. The best thing is that you will go home with practical business solutions and products that you can use for your prosperity.

How to Protect Your Business in a Divorce

If you are a business owner facing divorce, the thought of protecting your business from divorce can only add to the stress and strain that you are already going through. Unlike most property or personal assets, your business represents a personal investment of your own time, money, creativity and hard work. The idea that you might lose something you built because of an unfortunate turn in your personal circumstances can be both frustrating and frightening.

There are a few things you should keep in mind, both when going through divorce, as well as before divorce even seems a prospect to you. If you never get divorced, that’s great, congratulations. But by taking time to make sure your business is protected you can prevent many headaches, including every entrepreneur’s ultimate nightmare: losing your business.

Here are some things you should consider that may help keep your business intact and functioning:

Get a prenuptial agreement. Sure, it’s not very romantic to contemplate divorce before you even marry, but if you own a business it’s your responsibility to think about the possibility. Speak openly and honestly with your intended about your desire to keep your business separate from the marriage, and craft an agreement that is fair and prudent for both parties before you have any reason to be contentious.

Insert provisions into your business agreements to keep your spouse out of the business. This sounds cold-hearted perhaps, but if you are in a partnership or corporation you owe it to yourself, your partners, your employees and your shareholders to protect the business. You should already have a buy-sell agreement with any partners. This will typically state what should happen to the business should any owner’s status change, will outline any pre-set price agreements for sale of the business, and may contain language that limits your spouse’s involvement in the business. The buy-sell agreement, while it doesn’t protect you entirely from the events that may occur in a divorce, does provide a contractual framework and legal foundation for any future court rulings about the business.

Keep your family assets separate from your business assets. This is just common business sense, but it’s even more important in the event of a divorce. If you are using family money to fund your business, you are creating a situation where your spouse may have claim to some of your company’s equity.

Pay yourself. Similarly, if you are not taking a salary, or taking a salary that is less than the going rate for your line of work, your spouse can claim that you have taken assets that rightfully belonged to your family and put them into your business. In the eyes of the court, this may substantiate your spouse’s claim to a stake in your business.

Don’t involve your spouse in your business. Again, this sounds cold, but there are sound business reasons for keeping your spouse’s involvement in your business to a minimum. If you hire your spouse, it is prudent to terminate that relationship as soon as possible if you end up in a divorce. The greater the involvement of your spouse in your business, the greater the claim your spouse can make to a stake in that business.

Create a Property Settlement Note. This will outline in advance how your spouse is to be paid out for their share in your business, should your marriage be dissolved.

Put your business and its assets in a trust. This will protect the assets from divorce, as you will no longer technically own them. The trust becomes, in effect, the owner of the business, and not only its current assets but also its future growth will remain outside the parameters of your marital assets.

Trade your share of the marital assets for equity in your business. This is only relevant if you are already going through a divorce, but it can help keep your business intact. You can maintain your share in the business by trading off other assets that are less important to you.

Sell equity in your business to raise capital to keep it running. Not an ideal solution, but if you can convince investors to buy shares of your company, you may be able to pay off your spouse while maintaining your business functions.