Self Employment has become a norm in America. When starting a business, there are a few basic guidelines you should follow to avoid common potholes that many new entrepreneurs have made in the past.

1. Use written agreements with clients. Courts are crowded with lawsuits filed by people who entered into oral agreements and disagree about the terms. A written agreement — even a very brief one, referred to as a deal memo —  will help avoid misunderstandings. Seek an attorney, but in…

A business plan is like a good speech. It makes a captivating opening statement, , supports that statement, and then makes a strong closing. Here is a summary of what that entails.

Before you read how to build the plan, make sure to read Part 1, What To Know about business plans.

As indicated in the opening, a business plan is like a speech, delivered on paper instead of orally.

It contains:

1. a short, concise opening statement that is easy to comprehend. Try to capture it in eight…

If you had an idea that would change the world, or at the very least change the way certain aspects of business or civilization were conducted – say with a new scientific or technological breakthrough –, and the concept had some valid basis, like a theoretical formula or successful test,  for example, then you might be able to raise development capital with nothing more than that idea written on a napkin.

Anything less however, is going to require a business plan, or, at the minimum an…

So you think you have the next great idea! A sure-fire business success waiting to happen and you know if you can just get that idea before someone with money that you’ll be on your way, right? Sorry, but no, it’s not that simple; there are many types of funding vehicles and as many different investor personalities as there are ideas.

Because a business is a start-up, doesn’t by itself identify the type of funding sources that may or may not be available for it. What is more relevant is…