Whether purchasing or selling a business, it is important to understand the common techniques used to determine the value of a company. This will allow an entrepreneur to achieve a better price for their business, or help an investor find a reasonable deal. An objective,...

The new year is a great time to start a business. Before jumping into the entrepreneurial pool, educate yourself on the various corporate structures for small businesses. Not only does corporate structure impact the operations of a company, it also impacts the bottom line.   Having...

When a potentially business-changing idea is formed, it is good practice to protect it. To keep their ideas safe, entrepreneurs must possess a strong understanding of the limits and rights of intellectual property (IP). However, there are many misconceptions regarding what constitutes IP and the...

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...

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...