Nature of Greed

The nature of greed all I want is an 80.0%...just make me happy with an 80.0%....I got an 89.8% and immediately thought “OH F&*K, I SHOULDA’ GOT AN ‘A’”….less than a second....That is how fast greed can enter your (my) heart.

                                                                              

 

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Show me you're serious: Take an accounting course.

Suck it up, take and accounting course....taking an accounting course... signals to yourself and anyone else that you are serious about the company succeeding, not just about having a romp around the block....I am not saying that you need to do the bookkeeping every month, but as a leader you need to know how things work.

But hey, what do I know?

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The story of Sharon – With a little TLC Flowers can bloom

[W]hen [s]he was managed, even just a little bit, [s]he was able to work to [her] capacity and do great...I learned this lesson for myself with an employee I’ll call Sharon...The result, she became one of the most useful employees that I had....If you look at time as your only real asset, and there is an employee with a potential ROI as high as hers (spend <10 min/week = good employee) then the value of the time from good → great employee is worth it.

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Back To Basics: Overview of Intellectual Property

In recent weeks I’ve had three people ask me if I can help them with a patent. Each actually meant a trademark or copyright.... 4 types of intellectual property: patents, copyright, trademark, and trade-secrets. Each cover a different thing, happen in a different way, and last for a different period of time....A little more discussion: In the fast paced world of entrepreneurship and the internet...Patents take too long to get...They also cost a lot of money...Copyright covers... 

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Getting to Day 1: Selling your business

When my father talked about selling his solo-practice dental office. ... he was a fantastic dentist... .no idea how to sell his business. Not his fault... it is a knowledge and experience issue...After your family...your business is ...most valuable asset you have...This is a "Get to Day 1” article... The actual “Day 1” is to have your business in a state of preparation where you can actively find a buyer.

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Salary: Don't negotiate the dollars

[P]eople call me for friendly career advice. One topic comes up over and over. What should I negotiate for when I am offered a new position? ...

Another way to say it is, what do you want money for? Would you rather have that $40,000 purchase price plus $4,000 year, in unpaid time off? Consider what [do you] really WANT from [your], rather than what they can GET from their jobs. 

 

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Get to Day 1

In Vail Daily: May 14, 2014 - A journey of a million steps starts with one, though it still leaves 999,999 left undone.

The client says, “We have a viable product...Soon we’ll be at x5 this, and x45 that! Then we can buy a building, make our own database, hire a sales staff….”

However, the counsel most people seem to need, is that everything is just a dream before "Day 1".

 

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Law School Thesis - Transition plans Public vs. Private companies

Attached is my thesis paper from law school. It is long, though some might find it interesting. 

The concept started when I noticed my parent's generation starting to retire and, specifically, my dad. He was a solo-practice dentist and had never sold a business before. He had to become an expert at it for a single transaction.

That lead me down a rabbit hole of the differences between small companies and large when they transition ownership or leadership. This paper is about those differences. Someday I'll post and individual section or two.

~ Bickerton

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Back to basics: Step one, how to get a bank account

Back to Basics: Title: Simple, Practical, Steps to Starting a Company.

eople hesitate to start a company is simply having to tackle the 101 steps to starting a company ... However, what about people like you with just an idea? Yesterday, my good friend who works as a mechanic and has all the skills to restore cars, shared with me that he doesn’t know how to file for a business license, open a business bank account or complete the other basic, basic, startup steps.

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Answer: AVVO: Family LLC issues

AVVO Question: 

I was a non voting member of a family LLC. ... My father refused to provide ... paid. ...Can I sue?

Bickerton Answer:

I usually try to answer questions ... you may not need an attorney..in this case you ... need advice of counsel. 

... Good attorneys help by being an advocate for you and taking some of that burden off....  I personally went through some similar situations ..., we were able to resolve some emotional and financial issues ... having everyone read: "Family Wealth" by James Hughes. I'd give that book a look. 

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Risk Management and Alternative Forms of Insurance

Hampton & Pigott Newsletter 

“The first check you write is for the mortgage but the second is for the insurance.”

-The Blind Side

Risk Management is both a field of study and a practical application process. In short, the concept of risk management asks a business owner to identify risks, assess the potential costs associated with those risks, and take steps to lessen or eliminate those costs.

Car insurance is the classic example of traditional risk management. 

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Some Tips on Hiring

Hampton & Pigott Newsletter

When considering when to hire and when to fire I try to keep in mind that:

1) It is cheaper to keep a good employee than replace a good employee;

2) It is more expensive to keep a bad employee than replace a bad employee;

3) It is more expensive to find a good employee than a bad employee.

The cost of turning over an employee.....

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