One of my favorite bloggers, Pamela Slim over at Escape from Cubicle Nation, tackled today four startup business questions micro-ISV need to answer too:
- Should I set up my business as a S Corporation or a LLC? (Two examples of U.S.-based business structures)
- Do I need liability insurance?
- Should I make people sign a non-disclosure agreement if I share details about my product or business model?
- Should I set up my books on a cash or accrual basis?
Her advice is great advice: learn how to find and evaluate professionals who can answer these questions for you with authority. Books like mine are great to give you a feel for your options, but professionals – some of whom can be accessed quite cheaply – can jump the gap between theory in general and your specific circumstances.
Definitely read Pamâ€™s post!