Archives for February 2014

A Solo Entrepreneur’s Guide to Keeping Their Company Going After They Die

Guest Post by Alicia Lawrence

business continuity

business continuity

Death is the one thing we can count on in this life. We often push the thought aside to avoid depression. But in the case of a solo entrepreneur, death is something we have to be prepared for if we want our business to live on. While some entrepreneurs are fine with the thought of having their business die with them, others value all the time, sweat and tears they’ve poured into their work and hope it will sustain their family even after they are gone.

This is a guide for those solo entrepreneurs who hope to pass down their business to a family member or friend. One caveat before we begin: every business is different and, while entrepreneurs love doing things themselves, it’s worth your investment to have a lawyer or financial planner look over your business continuation plan to make sure you didn’t leave anything out. [Read more…]

Exclusive Distributorship Agreement for New Products

exclusive distributorship agreement

exclusive distributorship agreement

You’ve invented a product and now you’re ready to take it to market. But before you jump into an exclusive distributorship agreement with the first person who shows interest in your product, there are a few things you need to know first.

1. Never grant exclusives without guarantees – The first thing everyone will ask when they approach you about selling your product is whether they can have an exclusive or not. I can’t really blame them for asking, because if they are going to put a lot of time and money into your product, they want to know that they have an exclusive to sell it and keep competition away. [Read more…]