Quick Tip: Save Your Important Contracts

If you use an electronic signature service to have your clients sign your contracts, remember to download and keep a copy on your computer (and not just on the e-signing program). Better yet, keep a hard copy. Hard drives fail, computers crash. Your future self will thank you. I mean who here has experienced the horror of losing all your data when a computer crashes on them?

Want to learn more about electronic signatures? Read this post.

 

Quick Tip: Choose a Business Structure that Fits the Needs of Your Business, Not Someone Else’s

When starting out, the first thing most entrepreneurs want to do is to establish their business as a limited liability company or a corporation. Although the pros to forming an LLC or corporation include protecting against personal liability and taking advantage of tax benefits, they can be costly to set up and to maintain. Take into consideration the line of business you’re in, your potential exposure to risk, your future plans for the company, and your personal assets to select a business entity structure that best fits your unique circumstances. 

 If you’re just starting out and you’re unsure if this entrepreneurial life is really your cup of tea, consider beginning as a sole proprietor and graduate to LLC or corporation status as your business evolves and your circumstances change.  Remember to keep your eyes in your own lane. What’s right for someone else may not be right for you.

Click here to find out the 6 questions to ask yourself before you file as an LLC.

Quick Tip: Review Your Business Contracts on a Regular Basis

When was the last time you read your contract that you have your clients/customers sign? Remember to regularly read and update the contracts you send to future clients so they reflect your current policies and procedures. As your business evolves, so should your contracts. 

In need of a contract overhaul? Then check out the contract templates available on the site.