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The workforce is the lifeblood of a business. During a transfer in ownership, it is common for the staff to feel concerned and stressed about the change in leadership. The high stress can lead to unhappy employees, which can increase turnover rates and lower productivity....

There are several paths that lead to entrepreneurship, and one such path is purchasing an existing business. However, before embarking on this path, a thorough examination is necessary to avoid falling into a bad purchase. Knowing where hidden complications may lie can give an entrepreneur...

The road to entrepreneurship does not always begin in a garage. Sometimes the best ways to launch or expand on an idea is to purchase a business that already exists. In doing so, the buyer is immediately in a leadership role at a company that...

A common situation just about every service-industry entrepreneur faces is what to do when a client misses a payment. This forces the business owner to find a way to collect what they are rightfully due while potentially holding on to the relationship. Whether the delay...

Mason Cole recently partnered with 36Squared, a new business incubator in the West Loop, to host a variety of events and conversations around the legal aspects of entrepreneurship. Mason recently presented “Five Questions to Ask a Future Business Partner” to incubator members at a networking...

When it comes to the legalities of running a business, it is always better to be proactive than reactive. Addressing and resolving issues before they become vulnerabilities can prevent a company from losing significant time and money. Instead of taking time away from the business...

Many early-stage entrepreneurs go into business with a friend or significant other without fully comprehending the skill sets needed to turn a passion into a thriving business. Unfortunately, jumping into business with someone does not always go according to plan, as there are likely facets...

Businesses seeking to grow and find long-term success should consider cultivating a strong company culture, as it has shown to contribute to higher productivity levels through increased employee happiness and a decreased turnover rate. Every workplace environment is unique, so there is no single solution...

The act of selling a business is a time-consuming and overwhelming process, especially when added to the day-to-day challenges of keeping that business running successfully. The final sale price will vary based on a multitude of factors. However, there are aspects that the business owner...