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Business Formation and Planning Archives

Using competitive insights to succeed in business

Colorado entrepreneurs in Colorado may be able to learn a lot by watching the activities of other businesses. For example, the new 'basic economy" class that United Airlines has announced may be interesting to analyze. Whether the new budget option helps United Airlines to grow or cannibalizes the airline's higher-priced options is yet to be seen. Whatever happens, it's clear that United Airlines is taking a cue from competitors that have already started to sell cheap, no-frills tickets.

A business plan can help with more than just funding

Many Colorado entrepreneurs write business plans in order to attract potential investors for their new ventures. However, business plans are important even to companies that are being funded by their founders. They can help owners by forcing them to make a plan to achieve their business goals.

Business planning for 2017

Many entrepreneurs in Colorado are very busy during the holiday season. Ventures may be booming during the fourth quarter, and there may be a lot of holiday parties and family events to attend. Even during this hectic time, it is important for business owners to assess their goals for the new year.  

The planning process for businesses

Some prospective Colorado entrepreneurs are afraid of business planning simply because they don't know how to approach it. While it may seem daunting to new business owners, they shouldn't avoid it or procrastinate with writing their plans. Having a good business plan in place may make it likelier that the venture will succeed.

Succeeding as a Colorado entrepreneur

In an effort to celebrate the will and spirit of the entrepreneur, November 2016 was declared National Entrepreneurship Month by President Barack Obama. There are currently 27 million Americans of working age who are starting or currently running their own business, which represents close to 14 percent of that population, according to the Global Entrepreneurship Monitor.

Tips for starting a small business

Colorado residents who are starting a small business for the first time should keep a few points in mind. One is that they can start the business even if they do not have much capital at the beginning. People have started businesses in all kinds of financial situations including after losing their jobs. There are a number of low-cost or even free resources available to new business owners.

The advantages of a limited liability company

Choosing the appropriate legal structure for a new business venture is a decision that entrepreneurs in Colorado and around the country often find difficult. Corporations shield the personal assets of shareholders from business-related litigation, but they also require entrepreneurs to maintain detailed records and may lead to higher tax bills. Limited liability companies protect assets in the same way as C or S corporations, but they are less complicated to set up and do not require annual shareholder meetings or a board of directors.

Strategies for developing a successful business

Many young entrepreneurs are eager to start their own businesses in Colorado, but doing so takes more work than some of them understand. Before taking the plunge, they need to learn patience, planning and other skills. They can also implement several strategies to take their businesses to the next level.

Planning ahead for a service business

Talented Colorado residents may be able to start their own businesses through which they sell their services to others. Even if they are self-employed, it is still important for them to complete a business plan so that their business is likelier to succeed.

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