The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success
  • Sell-Me Saturday is Now Live!

    Have something to sell? Want to promote your design service or a YouTube channel? SELL-ME SATURDAY is your opportunity to self-promote anything within the sphere of entrepreneurship on one thread... and at no cost. Go There
    Note: Indiscriminate SEO backlinking to questionable material is not allowed.
  • Join 50,000+ entrepreneurs who are earning their freedom and living their dream.

    "Fastlane" is an entrepreneur discussion forum based on The C.E.N.T.S Framework outlined in the two best-selling books by MJ DeMarco (The Millionaire Fastlane and UNSCRIPTED®). From multimillionaires to digital nomads to side hustlers who are grinding a job, the Fastlane Forum features real entrepreneurs creating real businesses with one goal in mind: Freedom— both financial and temporal.

    Download (Unscripted) Download (Millionaire Fastlane) Register
    Registering for the forum removes this block.

Owners Unaware of Bankruptcy Laws in Entrepreneurial Decisions

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

  • Thread starter
  • Admin
  • #1

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
29,721
104,415
3,751
Fountain Hills, AZ
But maybe entrepreneurs should, since the most recent U.S. Census Bureau data estimates that approximately 50 percent of small businesses (less than 500 employees) close within four years of launch. And according to a new study of 90 Iowa small business

Full Story...
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Adam

New Contributor
Aug 12, 2007
68
15
20
Minneapolis
Re: Owners Unaware of Bankruptcy Laws in Entrepreneurial Decision

This is a good point. Its so easy to start a business or get into a partnership, but most people can't even begin to understand how hard it is to get out until they try.

My suggestion, though, instead of just planning for bankruptcy, you should have a solid exit strategy. This starts with a solid (if not generic) member control agreement that outlines buy/sell, divorce, dissolution, etc.

A first time business owner will not want to spend any time on this, as they "will not fail", however planning for the end will allow you to succeed well beyond just one failed business.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
New Course! Upwork Client Psychology I #UdemyApproved! Upwork Client Psychology I is designed...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Welcome to 2020, I wanted to add in a quick note about gratitude for the new year...


Don't like ads? Remove them while supporting the forum. Subscribe to become an INSIDER.

The 2020 Fastlane Summit

This event SOLD OUT in October. For authorized resale tickets, please check ticket resales or contact the forum directly.

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom