Legalities

For the last several weeks I have been trying to put into perspective the benefits of our seminars. I have emphasized the fact that you cannot get classes like this except in a university setting, and then it would cost you upwards of $500.

I cannot put into words how valuable I believe these seminars are in developing a solid business plan which is the base for a solid business. However, there are some things that we may not cover because we simply do not have time. Because each industry is different, legal issues are big issues we expect that you will know.

If you are a regular reader of this blog you will know that Found|Read is an insightful resource I quote constantly. It is geared toward tech businesses but is applicable to any industry.

The last article I read was about a big time case being held in San Fransisco right now. It is at http://www.foundread.com/view/greg-reyes-day-in. Anyways, it made me realize how important it was to "cover your butt", so to speak, and make sure your actions or the actions done on behalf of your company are legal. This applies to every facet of your business. Employment, benefits, pay, incentives, and financial statements are increasingly under review by watchful government human rights/business officials.

Remember, as Eliot Spitzer, current Governor of New York, stated, “Never talk when you can nod, never write when you can talk, and never, ever, put anything in an email.”

On a different note, I have been asked some questions about some business plans. To be fair and to remain impartial about every business plan entered in the competition here are the answers that I gave to the questions.

If you are in doubt about the content of your business plan, have an outline of the bare essentials, it will help keep you on track. If the business is expanding, you need to give your best judgment and weigh the plan between the expansion and the current business. Remember, the judges need both background on the current business and details on the proposed expansion. If you are opening multiple businesses I will answer in the form of a question to get you on track... What is your main business? Are you opening business A to support business B or vice versa. If they are two separate entities all together, I'm sorry, you have to choose only one to enter the competition.

I hope this helps.