bootstrapme
Bad advice?
Filed in archive Entrepreneurship by Shawn Hessinger on May 12, 2007
Bad advice?
CONTINUED FROM PREVIOUS POST

This sort of cart-before-the-horse thinking is best expressed in a series of comments on everything from company organization to professional services and right down to the way in which you plan to get your money.

For example, Dave Wright responds:

This is really bad business advice, rising to the level of being criminal! As a successful business owner who often lectures on the subject of start-ups, this level of misinformation is a real disservice to potential entrepreneurs. Why would you advise people not to seek advice from accountants? These people provide a valuable service for folks who understand what they want to do with a business but lack the business background. When starting any business there are plenty of legal issues that must be addressed and most people need someone who understands how to navigate these waters. You also advise people not to open a bank account? Are you aware of GAP accounting laws that do not allow mixing of personal and business accounts? A world of legal troubles await anyone foolish enough to follow this piece of advice. You mention not incorporating because of the high taxes in PA, but you don't mention LLCs. This type of business ownership is ideal for small owners because it allows the benefits of sole proprietorship taxes with the limited liability of corporations. People who follow your advice can be on the hook for expenses in excess of their business if it fails. When someone's forced to sell their house in court, what is their defense? I listened to advice from a website? The previous poster already addressed the patent issue, but it really sums up the problems with this list. You're actually telling people not to apply for seventeen years of protection to get a company grounded! Foolishness! When it comes to starting any business there are plenty of concerns, but this site seems to focus only on doing things as cheaply as possible. That may be practical if you're only starting webpage projects, but in the real world business expenses exist it sometimes success actually requires you to buy pens and pencils!


Dave adds:

You also argue against using an attorney. Another great piece of business advice! I wonder perhaps if this whole article isn't really an April fools joke that's just a month late.


It isn't.

Let's take these objections one at a time:

CONTINUED NEXT POST


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Tags: bootstrap  startup  pros  cons  business  logos+business  business+addresses  small+business 
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