Working a side hustle or having a portfolio career has become very commonplace, whether you’re doing odd jobs to make ends meet or expanding your experience despite being a successful professional. But there are many legal considerations that come with a portfolio career, so before you embark on your side hustle, consider these potential conflicts.
Tag: Legal Tips
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.
Plenty of people start businesses that aren’t right for institutional investment but require additional funding to get to the next level. Angel investors are a great resource in that scenario. An angel investor, by definition, is a person who invests his or her own money into an entrepreneurial company. The term “angel” was originally used to describe investors in Broadway shows, but has since been expanded to general business. Unlike institutional investors like venture capitalists who invest other people’s money, angel investors are generally involved in the very early stages of a company and because they invest their own personal money, a typical angel invests less than $1 million. Below are some considerations when preparing to approach angel investors.
Planning a wedding? Or an elaborate party for your child’s first birthday? Maybe a milestone birthday for your spouse? You’re probably hiring vendors either without a contract or without reading the contract before you sign. While most vendors are legit, here’s what to look for in vendor contracts in case of a disastrous experience.