“Don’t Let this Happen to your Business!”

What are the effects of not having a properly structured business? Your assets are at significant risk! Lawsuits can go after your property, your bank accounts, your business, etc. You and your business are extremely vulnerable. Your business could be foreclosed and your bank account drained dry.

Never hold real estate or businesses in your name. It doesn’t matter what type of business you have. You could have a software company or a deli, it doesn’t matter. Let me repeat – never have a business in your own name.

What do you have to do to start your “own” business? All you have to have is a profit motive. You have to have the intent to make a profit. The tax codes and laws favor people that run their own business. If you have your own business then you can slash your taxes.

The minute you make money your asset columns grow. If you are in business then your next move is to make money again. If you want to build lasting wealth then you can’t have a one shot deal. You have to have the desire to continually make money.

People won’t sue you if you don’t have money. People will wait until you make money. Once they see that you have enough money then they will sue you. So it’s great to make more money, but with more money comes a higher potential to be sued. However, you can thwart these lawsuits if you have the right corporate structuring knowledge.

Think about what you want to do with the money you earn. Do you want to travel? Do you want to buy a boat? Does the way you run your business favor these activities? Don’t forget about taxes. Every week taxes chip away at the money you could use for these activities. If you are employed by a corporation or other business then taxes are automatically taken out of your paycheck. These continual taxes make it more difficult to build lasting wealth.

Also don’t forget about lawsuits. Lawsuits can hit you without notice and grab huge chunks of your money. Your dream vacation can be down the tubes in the blink of an eye. Basically, taxes and lawsuits can make it hard to get ahead financially.

The bottom line is to not have businesses in your own name. Learn the business structure of successful entrepreneurs. They have learned how to protect their assets and run a thriving business.

Warmest regards,

Matt Bacak

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“Lawsuits – Does your business structure make you vulnerable?"

Slashing your taxes is one major obstacle your business will face. The other major obstacle is defending your business against lawsuits. Don’t think you will face a lawsuit? Think again. Lawsuits happen all the time.

Obstacle #2: Lawsuits.
The average person is slapped with 5-7 lawsuits in their life. In other words, 1 in 4 people will be sued in the next 12 months. Every year universities pump out new lawyers. These lawyers are hungry to make money. Therefore, they are on the hunt to create lawsuits.

If you are sued is your business structured in such a way that you will not only survive from the lawsuit, but actually thrive? You can thrive if you are knowledgeable about entity structure. Your entity structure can be a powerful force against lawsuits. In other words, the person suing you will be worse off when they win then if they had never bothered you in the first place. Even if your opponent wins, they will spend more money on actually suing you.

You need to know how to deter lawsuits so you can spend your time building lasting wealth. If your business structure is set up correctly then people who try to sue you will find it better to just come to an agreement before a lawsuit begins.

You can use the Internet to your advantage. You can find information on anybody you want in seconds. However, this technology can also make it easy for people to find out information about you that they can then use against you. For example, if you have businesses in your own name then people can view you as having deep pockets. They are more likely to sue you if they see that you have money.

DBA and sole proprietorships give you no protection. These types of businesses are in your own name. These types of businesses are risky because if you make a mistake then your name and personal assets are vulnerable.

General partnerships are the riskiest forms of business you can have. You need to shift the way in which you approach and run your business. If your partner makes a mistake, both of you are sued. This can be devastating especially if you didn’t do anything wrong in the first place.

Do you have insurance? Insurance is good to have, but it is simply not enough protection. Insurance companies do everything they possibly can to avoid paying your claims. So you can’t count on insurance to save you in the event of a lawsuit.

Warmest regards,

Matt Bacak

P.S. If you haven't signed up for my
Powerful Promoting Tips yet, then you
are really missing out, go here:

http://www.promotingtips.com

P.P.S. Do you want to be updated on the new things I'm doing
to market my companies? Then you need to grab a copy of my
`Internet Marketing Dirt'. It's now better than ever before!

Go here and get a copy: www.internetmarketingdirt.com