Blog.

When I talk with business owners, I continually am surprised to learn how many of them have not put a legal structure around their business operations. They are hard-working, entrepreneurial and often highly educated owners really want to incorporate or set up a LLC, but they have been distracted by other, more pressing business issues.

From the beginning, you should document the unique details and procedures of your business by writing down what you do, how you do it, why you do it, when you do it, etc. Put a system in place now to collect and share this information, so that you can delegate and focus on other things. Your employees will become productive more quickly and help you advance your business.

You are meeting with a potential investor in a few days and they are interested in structuring a possible investment as convertible debt. You need to get up to speed quickly on the key terms and negotiation points for this type of investment.