September, the month where things get back to business; kids are back in school and summer officially ends. This month we had the pleasure of speaking with Leslie Smith, the President of EPIcenter in Memphis about all things startup. If you’ve been thinking about taking the step to start off on your own, or if you have expertise to offer startups in your local area and want to partner with them in some way, you will want to read this month’s article.
Don’t forget to check out the In Case You Missed It section at the end of the Digest to catch up on blogs that you may have missed since our last Digest. To see these blogs when they post, pop over to LinkedIn and follow the Carlson Dash company page.
Jim Dash – Speaker at Mechanics’ Liens Illinois Seminar
On September 16th, Jim Dash spoke at the National Business Institute’s seminar on Mechanics’ Liens in Illinois. Jim spoke throughout the day on a variety of topics including: Lien Entitlement: Activities, Materials and Properties Lienable; The Payment Process: Practical Considerations; Notices and Claims: Preserve and Perfect Your Lien Rights While Avoiding Fatal Defects; and Ethical Issues Relating to Mechanics’ Liens and Enforcement Actions.
If you were unable to attend, the entire seminar and materials are available on NBI’s website.
Startups – Poised for Success
Leslie Smith, President of Memphis-based EPIcenter took the time to share her experience with both EPIcenter and TechTown Detroit. We summarized our talk which focused on what startups need to know and the services that are available to give them their best shot at succeeding, and have included a list of local incubators in both Chicago and Southeast Wisconsin. Read on.
Memorialize Your Decisions…
You did it! After years of thinking about it, you finally took the step and started your own business. It’s just you and your closest friend or trusted family member, so you skip the formality of documentation. Conversations take place, emails pick up where conversations left off, the business is launched and things are sailing along better than you could have expected. Then the inevitable monkey wrench is thrown in and things get sticky. The questions start; who is responsible for next steps, what was compensation supposed to look like in good times and bad? You search your emails, rack your brain to recall conversations from memory, but everyone recalls and interprets the conversations differently and the emails are cryptic and vague.
Taking the time to document your business decisions is one of the most important things you can do for your business and it’s not just during the start-up process. Just look to the lesson The Walt Disney Company learned when they failed to thoroughly document events and decisions in their board meetings. The lack of detail in their minutes led them down a path of litigation for almost a decade. Many business owners lament about the amount of administration and paperwork they need to deal with as an owner. Documentation is certainly not glamourous or exciting, but doing so up front can definitely lessen future headaches you will inevitably encounter.
Catch up on recent Carlson Dash blogs you may have missed.