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Take Your Business to the Next Level!
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 Ah, autumn... It's such a great season, especially here in the Hudson River Valley of NY. I love the apples and pumpkins (not to mention the wine!), leaves turning their glorious colors, and the crisp cool air. I only wish it wasn't followed by winter (sorry, not a fan of the cold).
Autumn is also a good time to do some checking under the hood of your business. Like making sure your business structure is being honored, for example. Check out this month's feature article, You Are Not Your Business: Protecting Your Business Structure, for ways to ensure that your business structure is still adequately protecting you and your business.
I am enjoying coaching so many entrepreneurs around the country. We work on taking their businesses to the next level in so many ways, including identifying their target market, protecting their intellectual
property, increasing their rates, adding streams of income, etc. I have the pleasure of being the facilitator of a women's entrepreneur mastermind group that meets monthly, and I also teach a class in another entrepreneurial assistance program (that is not limited to women). Both programs are NY state programs that are offered live in my area. For those of you not in NY state or near a similar program, I offer private coaching. If you are interested in exploring private coaching with me, send me an email at Lisa@LMOrganizingSolutions.com so we can set up a Meet & Greet "Discovery Session" and see if we are a good match.
I plan to launch several exciting programs for entrepreneurs over the next year so stay tuned! I am busy developing a monthly mastermind group or success circle for those that want ongoing support and guidance. I am also de
veloping a business bootcamp for newbie entrepreneurs. And I also plan to launch some professional organizer-specific programs and products for colleagues in my industry. If there is anything you know you want to see offered down the line, please send me your thoughts! These programs will be for you, so feel free to chime in.
Speaking of programs, there is still time to join me for the 6-week teleclass series, DECIDE to be Organized Group Coaching Program. The program officially starts October 18th, but is filling up fast so don't delay if you want to join us. If you want to hear more about the program while learning some great tips, join me for my free preview call on Tuesday, September 27th at 7:30 pm EST, How to Overcome the 3
Most Common Blocks to Living a Productive Life (http://lmorganizingsolutions.com/overcomeblocks.html). I'd love to have you on the call live, but if you can't make it, register anyway and you can listen to the recording when convenient for you. Remember, if you are a professional organizer looking for continuing education, this is an excellent way to get 9 hours of CE credit while learning a great new organizing methodology to share with your clients.
Enjoy the autumn!
Wishing you much business success~
P.S. Welcome to the new subscribers. I am thrilled that you have decided to become a member of the Next Level Business Success online community!
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- September 27, 2011 - Free Teleclass! How to Overcome the 3 Most Common Blocks to Living a Productive Life. Join me for a free 60-minute teleclass as I share the 3 most common blocks to living a more productive life. See the details and register here.
- October 13, 2011 - Lisa will be doing a Meet the Author Book Signing at Frazzleberries Country Store, 24 Main Street, Warwick, NY from 6:30-8:00 pm, (845) 988-5080. Come have some wine and cheese, and check out Frazzleberries' display of the book, as they will be carrying it for sale from now on!
- October 15, 2011 - Lisa is presenting Don't Be Afraid of the Big Bad Law: Using the Law as a Protective Shield for Your Business at the Mid-Atlantic Professional Organizers Conference in Bethesda, MD. Register here.
- October 18, 2011 - November 29, 2011 - Lisa will be conducting the DECIDE to be Organized Online Group Coaching Program, a 6-week teleclass series, with live calls on Tuesday evenings (and recorded for those that can't make it live and want to do it as a home study course!), for those that want to achieve results at home, work and in life in an interactive group setting. See the details and register here. (Note that we skip over Thanksgiving week).
- October 31, 2011 - Lisa will be presenting DECIDE to be Organized: An Empowering Process for Change for NYSUT (NY State United Teachers) Retirees Conference at the Thayer Hotel at West Point, NY.
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"Lots of people want to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down." ~ Oprah Winfrey
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You Are Not Your Business: Protecting Your Business Structure as a Separate Entity
 When an entrepreneur starts a new business, one of the first decisions he or she is confronted with is the choice of business structure. This decision can be ongoing. As your business grows and changes, you may struggle with what is the best business structure at each stage. There are a wide variety of business entities to choose from and they vary from state to state. Which type of entity you choose will have a significant impact on your exposure to liability, your responsibilities as the business owner, and the taxes you and the business will be responsible for paying. Each type of structure has advantages and disadvantages, and should be chosen with care after consult
ing a business or legal professional. Regardless of business structure, one of the most common mistakes business owners make is to believe that the entity they choose will provide unlimited legal protection. Yes, many of the business structures offer legal protection in the abstract, a sort of legal shield, so to speak. However, reality can be quiet different. Your legal protection is dependent on whether you honor the structure. Simply filing the requisite documents establishing the business is insufficient to truly protect the business owner. The business owner also must operate the business as a distinct entity from him- or herself.  To start with, a basic rule of business ownership is the rule against the co-mingling of personal and business funds. It is vitally important for the business owner to keep his or her personal funds separate from the busines
s accounts. This sounds so simple and, yet, many entrepreneurs co-mingle funds, rendering legal protection meaningless in the extreme. There is a legal doctrine called “piercing the corporate veil,” which allows a litigant to actually pierce the business structure of the entity being sued, and make a claim against the individual owner and his or her personal assets. This doctrine is only applied in the extreme, but it is an important doctrine to use as a litmus test when operating a business. One of the biggest factors a court will consider when deciding whether to “pierce the veil” is whether or not the business owner has co-mingled his or her personal and business funds. Rule of thumb: Keep them separate! Another common mistake made by business owners is the failure to adhere to the legal formalities required of whatever type of business entity they chose. If you do not treat the business as a separate entity, then a court may not do so
either. Alas, the protection you thought you had been entitled to may no longer exist! One of the easiest ways to treat the business as separate is to maintain great business records. If you are required to keep minutes or show proof of an annual meeting for your corporation, do so. If you are required to maintain proof of business expenses, make sure you have those documents and can find them (a good professional organizer can work wonders here!). In other words, create the paper trail required by law. That paper trail serves as strong evidence that the business is, indeed, a real business. Choosing a business entity that offers valuable tax advantages and protection from personal liability is important. However, make sure you go beyond that and treat your business as the distinct entity it is in order to maintain the privilege of protection from liability that the law offers. As they say, it is better to be safe than sorry, or worse, personally liable. Enjoy,
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Copyright 2011 LM Organizing Solutions. Lisa Montanaro, "The Solutions Expert," is Principal of LM Organizing Solutions, LLC, a professional services firm created in 2002 that offers professional organizing, business and life coaching, and motivational speaking to individuals and organizations. Lisa publishes the monthly ezine, "Next Level Business Success" for small business owners and entrepreneurs. Subscribe today at www.LMOrganizingSolutions.com. To explore how LMOS can help take your business to the next level, contact Lisa at (845) 988-0183 or by e-mail at Lisa@LMOrganizingSolutions.com. |
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| Lisa Montanaro, "The Solutions Expert," is Principal of LM Organizing Solutions, LLC, a professional services firm created in 2002 that offers professional organizing, business and life coaching, and motivational speaking to individuals and organizations. Lisa publishes the monthly "DECIDE™ to be Organized" e-zine for the general public, and "Next Level Business Success" e-zine for professional organizers and entrepreneurs and the DECIDE to be Organized Blog. Lisa is the author of the book "The Ultimate Life Organizer: An Interactive Guide to a Simpler, Less Stressful & More Organized Life" published by Peter Pauper Press, which can be found at www.TheUltimateLifeOrganizer.com.Through LMOS, Lisa helps people deal with the issues that block personal and professional change and growth. To explore how LMOS can improve your home or work environment, or help take your business to the next level, contact Lisa at (845) 988-0183 or by e-mail at Lisa@LMOrganizingSolutions.com. |
Contact Information
Lisa Montanaro, JD, CPO
Certified Professional Organizer®, Business & Life Coach, Motivational Speaker
LM Organizing Solutions, LLC ™
PO Box 113
Warwick, NY 10090
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