Monday, March 28, 2011

I started a new business.... now what?

Yay! The economy is moving, you’re starting up a new business, now what?  I have probably helped over 700 businesses start up since I started practicing law over 30 years ago. It has been my specialty. People back in the 70’s said, “nine out of ten businesses fail in their first few years. How are you ever going to survive?” I always had a standard reply. “Wow, if it’s that scary, imagine how they feel.”

I have dedicated my legal career to helping business owners, because I am passionate about business. Good thing, because running a law practice is a business as well, and it has a couple of complications like a Trust account to go along with it. I was overwhelmed by the paperwork, the questions about what to do first, and bringing in that first money, all while actually practicing law. It’s one thing to have information, it’s another to actually “do the business.”

One of my invaluable resources which is free, is the Small Business Administration’s “Business Information Center”. There are three in northern California: San Jose, Oakland and San Francisco. These Centers have books on all of the aspects of starting, running and growing a business. They have classes for a nominal amount of money, and they have retired executives who can guide you.

The one thing they don’t provide is legal advice, and depending on your type of business, you may need a fair amount of that… what structure do you take, what should your contract with your customers look like, how do you hire your first employee.

I’ve noticed that in your first 9 months there are so many legal questions. Lawyers charge out at between $300 and $450 per hour. I wanted my clients to call me as much as possible, but I hated charging them for every phone call or letter. So our firm established the “Corporate Start Up Plan” to help new business owners in their first 9 months of “incubation.” Check out our website http://www.alvisfrantzlaw.com/ for more details or give us a call.

Be sure to follow us on facebook as well: http://www.facebook.com/alvisfrantz

To find out more about business law or corporations, call Alvis Frantz and Associates, A PC at (925) 516-1617. HAVE A LEGAL QUESTION YOU WANT TO SEE ANSWERED HERE? Go to our website and “Contact Us”.