Small Business Law
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Small Business Law
Content on small businesses, legal issues small business face and advice for small business. We want small business to go BIG!
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Business Growth ShortCut: Growth Through Acquisition

Business Growth ShortCut: Growth Through Acquisition | Small Business Law | Scoop.it
Conventional business wisdom tells us that if we work hard, have a great product or service and the right marketing plan, your business will consistently grow. Anyone that has ever ran a business...
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Growth for your business through strategic acquisitions should not be a dream. Your small business should take serious consideration of the potential growth avenues an acquisition can bring.

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Dentists and Private Equity: A Great Match

Dentists and Private Equity: A Great Match | Small Business Law | Scoop.it
Dentistry is not generally thought of as a sexy industry. It’s not the new craft brewery or craft distillery that has everyone excited. It’s not the tech company that is developing new technology...
Business Law Group's insight:

It used to be that retiring dentists only option to sell their practice was to a new dentist just out of school. That trend is about to change. Getting out front and active with the trend can give a lot of dental professionals more options.

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Batman vs. Bruce Wayne: A Lesson For Business Owners

Batman vs. Bruce Wayne: A Lesson For Business Owners | Small Business Law | Scoop.it
Everyone knows Batman is the secret identity of Bruce Wayne, an American billionaire, industrialist, and philanthropist. But what if these two fictional characters were business owners that were...
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A fictional face off between the two identities of one man can reveal the stark difference between a business that can get the most value in a sale and one that will likely be negotiating down. Having the cool business isn't always the best when trying to sell that business.

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The Plan: everyone exits their business

The Plan: everyone exits their business | Small Business Law | Scoop.it
It used to be a dirty little secret but has gained a lot more attention over the last decade: many professional athletes go broke after they retire. To the average person this seems impossible. These...
Business Law Group's insight:

Every business owner exits their business eventually. Doesn't matter if you want to or if you plan to, it will happen. So how do you prepare for that? Most business owners think they are in a good position but often are surprised to find out they aren't.

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Are You Saving Your Business Money or Wasting Its Time?

Are You Saving Your Business Money or Wasting Its Time? | Small Business Law | Scoop.it
Many Michigan business owners waste their time and the time of their employees by doing things that should be outsourced. Outsourcing these tasks allows your business to remain organized and not impact potential revenue.
Business Law Group's insight:

Often business owners see spending money for services as hurting their business. These expenses though actually save the business from losing revenue. You and your employees goal is to generate revenue for the business and if you are taking on non-revenue generating tasks because you don't want to pay someone to do them for you, that is costing you time. And time is money.

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Who Is the Right Investor for You? That Depends on Where You Are Now.

Who Is the Right Investor for You? That Depends on Where You Are Now. | Small Business Law | Scoop.it
There are five stages of new ventures. Each one will determine who you should seek funding from.
Business Law Group's insight:

Funding is always a common topic in business. From getting money to start a business to getting funds to grow a business to finding a buyer to exit a business, there are lots of options out there. So how do you find the right source of capital?

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State hears appeal on B.O.B. license suspension

State hears appeal on B.O.B. license suspension | Small Business Law | Scoop.it
GRAND RAPIDS (WZZM) -- State regulators today will hear an appeal from owners of the B.O.B. who are fighting a suspension of their liquor license. In
Business Law Group's insight:

One of West Michigan's most iconic bars and restaurants will be appealing its liquor license suspension today. The story of The B.O.B should be a cautionary tail for other small business restaurateurs. Dealing with the MLCC isn't easy.

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The DO's and DON'T's of Your Single Member LLC

The DO's and DON'T's of Your Single Member LLC | Small Business Law | Scoop.it
Single-member limited liability companies are very common in Michigan.  Most small business owners operate under this type of business entity.  Some are even able to navigate the confusing system...
Business Law Group's insight:

In Michigan, LLC's provide the same level of protection as a corporation.  But like a corporation, you have to take certain steps to ensure you remain protected.  Here are some very simple things that a single-member limited liability company should be thinking about.

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Michigan Sees First Business to Use New Crowdfunding Laws

Michigan Sees First Business to Use New Crowdfunding Laws | Small Business Law | Scoop.it
Crowdfunding isn’t a revolutionary concept.  The idea that a lot of people can pool their resources to make something happen has been around for years.  After economic disasters in the early...
Business Law Group's insight:

Crowdfunding is growing. While some traditionalist would like to over regulate it or ignore it there is a growing momentum for it. Michigan has embraced this change and now has its first user of its new crowdfuning laws.

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How to Train Your Brain to Stay Positive

How to Train Your Brain to Stay Positive | Small Business Law | Scoop.it
Three tips to help you keep a optimistic outlook on the challenges of running a business.Get the latest blog articles on business ideas and trends from...
Business Law Group's insight:

We do not believe in failure. There are setbacks, road blocks and potholes that can be discouraging as a business owner. Its important to stay positive, learn from the experience, and improve your business.

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How To Get Anything You Want In Business (And Maybe Life)

How To Get Anything You Want In Business (And Maybe Life) | Small Business Law | Scoop.it
This simple sales tip will change the way you ask for things—and drastically improve your success rate.
Business Law Group's insight:

Best line in this article: "Remember that there two kinds of people in business: people who want something from you and people you want something from."  Its funny how a slight change to your approach can really change the game.

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Business forecast: Sunny in 2014

Business forecast: Sunny in 2014 | Small Business Law | Scoop.it
Winter might be torturing West Michigan with record-cold temperatures, but economic forecasters are seeing sunnier days ahead.
Business Law Group's insight:

West Michigan's "Confidence Index" is at its highest since 2000 and there is talk of competition for hiring employees.  These are great signs for an uptick in our local economy.  It might be time to get your business' ducks in a row so you can move with this wave of improvement.

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Not your typical treat: Grand Rapidians buy into chef's doughnut propaganda

Not your typical treat: Grand Rapidians buy into chef's doughnut propaganda | Small Business Law | Scoop.it
At Propaganda Doughnuts, there's no display case with rows of sugar-drenched crullers, long johns and fritters. But there is a line out the door almost every morning.
Business Law Group's insight:

Interesting to see how the spin of something that is so tradition can make it so popular.  You might raise your eyebrows when you hear that someone wants to start a donut shop for a small business but a little creativity makes this one popular spot.

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Why CEO's Need To Be Like International Spies

Why CEO's Need To Be Like International Spies | Small Business Law | Scoop.it
Everyone has seen the television shows and movies where the police are closing in on the antihero who quickly grabs his go-bag filled with cash, weapons and fake identifications and eludes his...
Business Law Group's insight:

Being prepared has gone to a whole new level in today's economy. Often times if buyers are calling you to inquire about your interest in selling your business, you are too late. Being ready to exit early and knowing when to get out is crucial. You might only get one shot.

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2015 M&A Prediction: Competition

2015 M&A Prediction: Competition | Small Business Law | Scoop.it
2014 was a banner year for the mergers and acquisitions market in West Michigan . Sellers have had time to recover from the Great Recession and buyers have capital available and the capacity to take...
Business Law Group's insight:

What can your small business expect to find in 2015? The competition might be on the rise in more than one way. 

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Is It Better to be a Buyer Or Seller Today? Or Tomorrow?

Is It Better to be a Buyer Or Seller Today? Or Tomorrow? | Small Business Law | Scoop.it
I was recently at a networking event and was asked an interesting question: Do I see the current M&A market as being a buyer's market or a seller's market? This is a very intriguing question because...
Business Law Group's insight:

The market is always going to be great for smart buyers and sellers that have a great plan. You make your own market.

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Is Your Business Ready To Be A Winner In A Strategic Buyer's Market?

Is Your Business Ready To Be A Winner In A Strategic Buyer's Market? | Small Business Law | Scoop.it
There are two sides to every coin. Often the focus can be so heavy on one side of things that the other side is almost ignored. There are hundreds of articles out there breaking down the 5 to 10...
Business Law Group's insight:

Baby boomer business owners are going to create a never before seen dynamic in the world of business as they transition into retirement. Businesses can take advantage of this coming decade to grow at an unprecidented rate by becoming strategic buyers.

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Slow and Steady Business Growth is Not For Everyone

Slow and Steady Business Growth is Not For Everyone | Small Business Law | Scoop.it
It was recently brought to my attention that a certain financial author is preaching to business owners that “slow and steady wins the race.”  While there might be some truth to this it does not...
Business Law Group's insight:

Sometimes slow and steady growth is a good fit for a business owner's goals. Sometimes you have to put the peddle to the metal and go go go. Which pace best fits your business' goals? Are you planning for it?

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How To Get Out of a Bad Contract

How To Get Out of a Bad Contract | Small Business Law | Scoop.it
I love contracts. Some might even snicker at how excited I get at the possibility of putting a big deal together and using some creative drafting to make sure everyone is happy with the Agreement....
Business Law Group's insight:

Bad contracts are all around. Your small business is not the only one to get tied up in one. But you can untangle this mess. You just need to know what to do.

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The Effects of Owner Dependence on Business Valuation / Calder Capital

The Effects of Owner Dependence on Business Valuation / Calder Capital | Small Business Law | Scoop.it

MLearn About Effects of Owner Dependence On Business Valuation and Steps You Can Take To Mitigate Them. Call Max Friar 616-439-1456 to discuss!

Business Law Group's insight:

Many business owners hope to sell their business some day. Some even plan to retire off the profits from such a sale. It turns out that its not enough to just have a profitable business to entice someone to buy. Start planning now.

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When ‘Liking’ a Brand Online Voids the Right to Sue

When ‘Liking’ a Brand Online Voids the Right to Sue | Small Business Law | Scoop.it
The food company General Mills added language to its website to alert customers that they cannot take legal action against the company if they download coupons, enter a contest or connect with it in other ways.
Business Law Group's insight:

Arbitration is a great tool for businesses to avoid the high cost of litigation but this move by General Mills is looking to expand existing law. By posting an arbitration clause on its website, coupons and even social media, they are looking to prove that anyone that tries to bring a lawsuit against them has to submit their claim to an arbiter and not a judge. This might not hold up in court but look for similar messages to pop up on other brands sites too.

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Tecumseh Brewing Co. first customer of new crowdfunding law

Tecumseh Brewing Co. first customer of new crowdfunding law | Small Business Law | Scoop.it
Michigan’s new crowdfunding law has its first customer: a Lenawee County business. The Tecumseh Brewing Co. is the first business to seek investors under the Michigan Invests Locally Exemption (MILE), the official name of the legislation. The crowdfunding legislation matches local investors with local companies. The announcement was made Thursday at “Imagining Crowdfunding’s Future in Lenawee,” an event hosted by Lenawee Now at the Christian Family Centre.Kyle
Business Law Group's insight:

Michigan's new crowdfunding laws are finally seeing some action. These laws are relatively new even though the concept has been around in slightly different forms. Now its time for businesses to learn how to leverage this new tool.

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What to Do When You’re New to Freelancing | Freelancer Blog

What to Do When You’re New to Freelancing | Freelancer Blog | Small Business Law | Scoop.it

Freelance contracting is becoming increasingly popular, and for good reasons. With economic crises and unstable job markets worldwide, it makes sense to use your skills and talents to build a business of your own.

Business Law Group's insight:

"Freelance" can easily be translated to "solo business." Freelancers need to treat themselves as a real business. Business development, business planning and contracts should be top of the priority list when getting started. 

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5 Ways to Keep Employees From Becoming Competitors

5 Ways to Keep Employees From Becoming Competitors | Small Business Law | Scoop.it
To retain highly engaged, entrepreneurially spirited employees, you must learn what makes them tick.
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You can put together a brilliant non-compete contract (and you should have one still) but creating a culture that engages employees to invest more than just 8-5, Monday thru Friday in your business can make all the difference in the world.

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January Resolutions Are Useless--Here's What You Can Do Instead

January Resolutions Are Useless--Here's What You Can Do Instead | Small Business Law | Scoop.it
Still need a worthy resolution? Take a counterintuitive hint from these entrepreneurs.
Business Law Group's insight:

I am not a fan of resolutions (you should be doing those things anyway) but this article takes a look at what a lot of entrepreneurs are doing wrong. Personally I like the resolution to "Think Small." Give up the magic bullet and take small steps toward the ultimate goal.

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