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Business Formation and Planning Archives

The importance of succession planning for professional firms

It is fairly common for successful law or accountancy firms to be built around the personalities of their founders. Often, the founders will have been driven by their visions as they built the businesses into successful practices that bring clients and attract talent.

Online marketing strategies for entrepreneurs

Even the most old school Colorado business owners now grudgingly admit that the Internet is here to stay. Online marketing allows entrepreneurs to connect with their target audiences directly and inexpensively, but it can be difficult to craft a message that stands out in a sea of competing voices. Most marketers understand that success comes from giving customers what they want, and simply following this basic rule can go a long way toward achieving a dominating online presence.

Emergency business planning in Colorado

As a general rule, a business plan should assume that a business endeavor takes twice as long as anticipated and accomplishes half of what it was intended to. A slow start can happen if an employee stole money, if marketing dollars did not reach the right consumers or if a shipping option turned off customers. Whatever the setback may be, business owners are better off planning for them as well as planning for success.

Strategic planning for businesses

For many small business owners in Colorado, writing strategic plans is very difficult. Part of the issue lies with being able to effectively articulate the direction the company will be heading as well as the strategy that will be employed for getting there. There are a few easy steps owners can take to write better strategic plans that can help the business reach its goals.

How to limit risk and liability when forming a business

Starting a new business can be one of the most exciting times of an entrepreneur's life. However, along with the excitement comes uncertainty as a businessperson contemplates the financial risk that he or she faces if a business does not succeed. Those in Denver who are establishing a new organization may want to understand how to protect themselves as much as possible from unnecessary liability.

Why entrepreneurs should write business plans

Some Colorado entrepreneurs who have startup companies either do not have business plans or think that they do not need them. While the lean startup idea might be popular, startups at their roots are still businesses, and they are more likely to succeed when they have business plans in place.

Strategies for effective business planning

Effective business planning is vital to the success of new ventures in Colorado. A well-designed business plan should include more than simply writing down the goals for the compnay and the steps needed to get there. Instead, it should also be written from a holistic viewpoint in order to determine what it will take to achieve success.

Entrepreneurs and steps for effective financial planning

The lines between personal and business finances are often blurred for Colorado entrepreneurs. Many tend to put their businesses first, which can leave their personal assets at risk. Retirement is one of the primary examples of this habit, and it is essential that people diversify their retirement accounts for better long-term security.

Why most small businesses fail

Most Colorado entrepreneurs begin their new ventures with a lot of energy and determination. Despite these optimistic beginnings, 8 out of 10 small businesses are forced to close their doors within the first year and a half of opening them. Understanding why so many fail so quickly may help new owners to avoid being a part of these dismal statistics.

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