Lollipops & Laptops

The Sticky Life of a Working Mom

Tag: Business Planning

Legal Tip of the Month: Essentials of a Business Plan

Legal Tip of the Month: Essentials of a Business Plan - Lollipops & Laptops

Business planning optimizes success by requiring you to analyze the potential successes of and obstacles to your business goals. A business plan is typically used at the start-up of a business and to apply for loans, but it is also very useful when running a business to organize for growth and development. As the Small Business Administration notes, business plans should be a “work in progress.”

You will use your business plan when you apply for a loan at a bank or approach a potential investor. You may also circulate it to other interested parties, but you should control who sees the business plan and update the plan as needed.

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Mixing Business with Pleasure: A Recipe for Success When Going into Business with Family

Legal Considerations When Going into Business with Family - Lollipops & Laptops

It happens all the time. You and your spouse are chatting over pizza one night and an app idea pops into your head. Or your sister pitches you to invest in some real estate with her. Maybe a friend asks if you want to partner on a cool new business she’s been wanting to start up. Or maybe your parents offer up a position for you in their business when you finish college. Whatever the situation, it is all too common that these businesses get going informally, and this can create major problems if the business grows, or worse, if the business goes south. Going into business with family or friends is always risky, but when done right, it can be quite rewarding. Consider these as your starting point when starting a family business:

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