Entrepreneur Series – Lesson 6 – Poor Staffing Decisions

One of the first things I heard when I got into management in my career is the phrase “you have to put the right talent on the bus”. While I understood its meaning, it took many years to realize how important hiring decisions are to grow an organization the right way. I also felt the pain of making poor hiring decisions, and how much time and productivity you can lose from just one bad hire. No entrepreneur lives in the panacea of having zero turnover as sometimes they might like to make it seem, but certainly making the right staffing decisions by putting people in the right roles can allow your start up venture to get off on the right foot. One of the critical questions to ask yourself early in your venture is what role do you (the CEO/owner) play in your firm. If I was to use a baseball analogy, what jobs are you going to be a ...

Read More →

Personal Finance 101 – This Week: Do I need a Living Trust?

First, a Living Trust is a trust you set up to hold your property and to govern the use and distribution of your property during your lifetime, during any period when you are incapacitated, and even after your death (when it acts much like a Last Will and Testament). You can amend or revoke a Living Trust at any time during your life making it a very flexible planning tool. Due to their broad scope and flexibility, Living Trusts are often viewed as one of the most comprehensive estate planning documents. But do you really need a Living Trust? If you answer YES to any of these questions, you may want to consider one. 1. Do you own property in multiple states? After you die, your family or other legal representatives must go through the probate process in each state where you own property in your name. The time, hassle and expense of probate in multiple other states can be ...

Read More →