“In this world nothing can be said to be certain, except death and taxes.” — Benjamin Franklin When you mention taxes to a small business owner, it can evoke heartburn and anxiety. And it’s true, taxes are complicated and may end up costing a pretty penny. The good news is that there are great resources […]
Author: Joseph Shanley
How to Use a Financial Pro Forma
One of the most important aspects of business is financial planning. While that may seem obvious, many business owners tend to focus on day-to-day issues without a clear idea of their long term trajectory. A financial pro forma is an excellent tool for setting realistic expectations for the future. I recently interviewed Jason Niehaus, an […]
How to Hire an Independent Contractor
Small business owners tend to be a jack of all trades. Money is tight after all, so why spend on the extra help when you can do it yourself? The answer is that time is your most precious commodity. You only have 24 hours in a day and that time should be spent working on […]
Michigan LLC Formation Essentials
Before beginning your journey as a business owner, you should form a legal entity. Legal entities offer business owners liability protection to facilitate responsible risk taking in the marketplace. They also establish statutory and contractual guidelines that define your relationship with partners, employees, and customers. Entity selection is complicated and must be tailored to the […]
Top Four Reasons To Send an NDA
When contracting with others, you may need to disclose valuable commercial information to achieve the best results. To do this more efficiently and safely, you should consider sending a Non-Disclosure Agreement (or “NDA”) to the other party. An NDA is a legally binding agreement between two or more parties that ensures certain information will remain […]
Voice-to-MIDI: A More Intuitive Way to Interact with Music
Joe Shanley recently co-authored an article for the MIDI Association of America as a co-founder of Bace Technologies, LLC. The article highlights the company’s music technology, Bace. Bace is a real-time AI technology that translates vocal sounds into usable drum MIDI notes for music recordings. MIDI is the technical standard for communication between musical instruments […]
Four Things to Consider When Raising Money
To raise money or not to raise money? That is the question. I find that a number of my startup clients want to bring on investors to jump start their business. It’s as if raising money is inevitable. With outside investment, however, comes added responsibility and organizational change. In this article, I am going to […]
The Business Model Canvas
You want to develop a business model and don’t know where to start. My advice is simple. You can’t develop a business model unless you know how to create value for customers. In order to create value for customers, you’ll need certain resources, partners, and activities known as business functions. In this article, I will […]
The Corporate Transparency Act
The CTA Keeps the Mobsters at Bay Shell companies, money laundering, financial crimes. Sounds like it’s time to heat up some lasagna and watch “The Godfather”. Today, we’re going to talk about the “Corporate Transparency Act” (the CTA), which was passed by Congress this past January. This article is intended to give a VERY broad […]
Get a Lawyer
Are partners or team members in a startup really equals? When you start your business, you are filled with enthusiasm and excitement about the possibilities that the future holds. You’ve even managed to inspire others to follow you on your journey into the abyss. Maybe you disregarded my advice not to involve family and friends. […]