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OK, let me start by saying I am NOT a lawyer and this post will not be giving any legal advice. What we will talk through are times you need a lawyer and maybe times you don’t. Let’s start at the beginning, forming you business. For this, many folks think they need a lawyer. But

https://youtu.be/RQ-P7ECudLk My interview with Joan Samanta from MDS Docs. Welcome Johan is a good friend with whom I race in 24 Hours of Lemons. Besides being a great racer, he is a brilliant doctor and entrepreneur. He discusses the challenges of being an entrepreneur in the healthcare field, the pros and cons of not working

https://youtu.be/365HXry9vgU My interview with Ron Morse, a successful restauranteur in the central Virginia area. 

I thought about the site and realized I am giving one person’s opinion and one person’s experience.  I was reviewing the site and realized that I am currently giving one person’s opinions and one person’s experience. We all know diversity is the spice of life so I thought to myself, how could I expand on

Cash Flow Let’s talk about cash! Money, dinero, dollars, yen, euros, and on and on. What we mean by this is let’s discuss cash flow, and most important, for people starting their own businesses, how much money do you need to start your own business? As you can guess, my next words are going to

Balance Sheets Now that we’ve talked a bit about break even, I’d like to talk about cash flow, especially your first cash flow model, which will tell you how much money you need to start your venture. But to do that, we need to discuss your balance sheet and have an understanding about assets, liabilities,

Break Even for Services Ever wonder why break even is done for products? Because it is easier. True story. Let’s fix some costs as fixed, then produce a widget. (A widget is a made-up term used as a fictional, generic product). Then take out the cost of the product and apply the rest to the

Fixed Costs verse Variable Costs – Products Let me start by saying this is an important concept. You need it to build all financial models. There are few concepts more important than this to all new businesses. If you don’t get this, then give up on starting your own business. OK, so some of this