If you have decided to start your own business, one of the first things to do is to set up your business as a legal entity. A lawyer can help you determine which business entity is right for you legally and for tax purposes. Generally speaking, in the US, there are four types of businesses you can set up. Continue Reading

One of the biggest questions I’m asked is how much should you spend on marketing. The answer lies in knowing two numbers:

• How much does it cost to acquire a new customer?
• How much will a customer spend with you over her lifetime (until she stops doing business with you)?

Many small business owners don’t know these numbers, yet they are essential to deciding how much money to spend. Let’s look at each. Continue Reading