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Newport Beach California Legal Blog

Determining if -- and how -- you should pursue venture capital

Securing funding to get a business off the ground can be one of the biggest obstacles for a business owner. Investing in a startup is risky, so it is critical that you consider carefully the source of funding you wish to pursue as well as the approach you will take to attract a potential investor.

One option you may be considering is venture capital. While this may seem like an exciting -- and seemingly easy -- option, the fact is that securing funding from a venture capitalist is far more difficult and complicated that TV and movies can make it seem. 

Study highlights troubling elements of financial abuse of elderly

Any instance of abuse committed against an elderly person is upsetting. Often, victims are vulnerable to begin with. Abuse only exacerbates difficult situations, from financial instability to physical frailty. Those who commit these acts are often people who are supposed to be protecting the victim.

Unfortunately, a recent study revealed that the people most likely to exploit their role in protecting an elderly person is a family member -- particularly in cases of financial abuse. 

What you can learn from the largest global industries

Many entrepreneurs have good ideas, but a small percentage have the forethought, resources and grit necessary to bring them to fruition. You might seek to understand which global industries and businesses are performing well as you consider what could help you make your business endeavor successful.

Regardless of how many creative ideas you have, it takes much more than a concept to establish a company. And if you get to the point where you believe you are ready for international expansion, you might be wise to both research your potential competition and also learn about the largest companies in the world. Whether you are a sole proprietor or have a well-rounded LLC, understanding what works for others may factor into what you offer.  

What are the challenges of international business expansion?

Starting a business in California is a challenge. On top of introducing a new product or service to the market, you must be able to afford your business location, adhere to local regulations and delegate sufficient funds to a higher-than-average tax rate.

However, many Golden State entrepreneurs have had proven success in their endeavors. If they can do it, you can too. With a strategic approach to the business world and wise counsel behind you, you could potentially be successful.

Drawing boundaries for internal emails

In most cases, you and your employees have an understanding of what is appropriate when you email a customer or client. Depending on the type of business, it may be formal, or, at least a smart casual.

When it comes time to email people within the company, it may be a different story. Although some people may appreciate emojis and humor, others may prefer more formal communication, even when it is amongst peers.

Avoiding corporate jargon with your clients

Your clients come to you because you have a combination of skill, reputation and cost that meets their needs. They stay with you because they developed a relationship with you, and you can provide a consistent level of service.

Creating relationships with your clients is essential. Every interaction is an opportunity to remind your client that you are listening and want to provide. Unfortunately, some words and phrases do more harm than good to client relationships.

Using personal growth to expand your business

As an entrepreneur, you likely started out by developing a concept that interested you. Whether you believed you possessed the skills and business prowess to build an international brand probably seemed immaterial at first.

The thought of creating success is exciting, but it can also be intimidating when you recognize the areas in which you aren't savvy. However, being willing to examine your flaws and strengths can be beneficial not only in your personal growth but also in that of your business.

Is it time to expand my business?

Watching your business succeed is an exciting time. As profits climb, you may start to wonder whether you should start expanding your business.

Whether you are looking at new locations or ways to reach more people in your current market, deciding to grow your business always has an element of risk. While you do not want to miss out on an opportunity while you have it, you also do not want to have to downsize soon after expanding.

Do your work before you buy more of it

You probably weigh your options before determining what to purchase and when, especially if a large amount of money is involved. And if you consider buying a business, it is especially important to do your due diligence. Most entrepreneurs are familiar with the phrase, if not the concept. However, do you know what "due diligence" entails?

You can think of due diligence like homework - the effort you must dedicate to investigating anything that could harm you or your checkbook, as well as those of the people with whom you do business. This process can take months to complete, but often reveals information necessary for making a sound decision. Before you commit your funds to another company, there are some things you should consider.

New protection for small business

Owning a small business can be unpredictable. You can be well-versed in your business, have a great strategy and still get blindsided with an event that devastates your business.

Until recently, one concern for small business owners was civil forfeiture. The federal government would permanently confiscate property with no criminal charges in place. While some businesses fought to get their assets back, others were not as lucky.

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