Last week, I talked about why we delegate. Great, now we’re sold! But what do we delegate and when? Not every task can be delegated. Before simply handing off a task (especially menial ones), consider whether you can eliminate it in the first place completely. If it doesn’t need to be done, then we do … Read more
Delegation is important for proper efficiency for any organization. In a series of three posts, I discuss why, when, and how to delegate. First up, why should we delegate tasks? Why? There are two main reasons to delegate: You and Them. A lot of ink is spent on the first, and that is the part … Read more
Remember the earlier post by Business Excelerated’s Amanda HarNess about the connection between trust and leadership? If not, go back and read it. Beyond lack of trust, there are other areas where leadership breaks down. Amanda gives us questions to consider whenever leadership is changing for an organization. And, unprodded by me, she recommends building … Read more
Earlier this year, the Wisconsin Legislature passed Act 258, which will bring updates to Wisconsin’s LLC Law. These changes are set to take effect on January 1, 2023. At a high level, the major updates include the following: For those out there reading, you might be wondering, “What does this have to do with me?” … Read more
Compensating service providers with equity is a pretty regular occurrence with startups. New companies don’t have a lot of cash (or any) to pay the people they need to run the business (just get a quote on the cost to develop an MVP of your new app if you don’t believe me) and providing equity … Read more
Every year, many Wisconsin lawyers who work for small firms or practice law solo attend a conference sponsored by the State Bar of Wisconsin which facilitates gatherings, lectures, and conversations about relevant topics and issues. I was excited to be able to attend this year’s Wisconsin Solo and Small Firm Conference to gain insight into … Read more
When advising clients on forming new companies, the question comes up about where to form the company. Should the client form the company in the state where their business is located (Wisconsin most of the time), or somewhere else? When the client elects for “somewhere else,” their entity is considered a “foreign entity.” This means … Read more
Welcome to 2022: everyone is busier than ever, asked to read more emails, messages, memos, articles, books— and yes, blog posts (even this one!)— than ever before. Who has time to read all that? According to the new book Smart Brevity, from the co-creators of Axios News, the answer is that almost nobody is actually … Read more
For creative people, copyright is a powerful concept. US law gives authors of fixed works with some element of creativity rights over their own creations, be they literary works, works of visual art, etc. This right allows the authors of these works to decide who is allowed to copy their work, and how, amongst … Read more
Let’s say you just started a new business—congratulations! When you contribute to your new business at the outset, as well as when you contribute again at a later point, that capital contribution and those of the other owners need to be tracked somehow. Enter the Capital Account. A Capital Account is a general ledger used … Read more