When making your business location decision whether homebased or in commercial office space, consider the following:
 
1.  What is the nature of your business?
Are you a retailer, manufacturer or service business?  Depending on the nature of your business and zoning requirements, you may legally be able to operate from your home or you may have to secure commercial space, especially if you have employees.

2.  Do you depend on moderate or heavy customer or client visits?
If your business deals directly with the public and high traffic volume is critical to its success, or if you’re a manufacturer of any kind, then commercial space would definitely be the appropriate choice. 
 
On the other hand, if you’re a consultant of any kind, an alternative to working from home would be an executive suite or incubator arrangement which provides personal space for your business as well as an office environment where clients can visit instead of coming to your home office.  These locations are professional and can meet commercial office space needs without a high cost of operation.

3.  How much space are you going to need?
Measure the workforce, production, shipping and distribution space needs of your company.   If either exceeds the amount of space you have available in your home and your budget permits, the obvious choice would be commercial space.

4.  How much money do you have budgeted for commercial space?
Commercial space can be very expensive.  If your business doesn’t require it, you may want to hold off on signing that lease until it’s necessary for you to do so.  This money can be used to grow your business until you’re ready.

5.  Are large pieces of equipment, machinery or office furniture needed in the operation of your business?
Large pieces of equipment, machinery and furniture can require extra space, ventilation and a greater amount of electrical power.  If this is the case, then commercial space is the better option.

6.  Do you have inventory and how much?
         If you have inventory, you will need adequate storage and space to efficiently roll out your products or services.  Again, commercial space could be the better option.

7.  What are the zoning laws for your area?
If your desire is to work from home, be sure to check out local ordinances and regulations to make sure that it’s legal to operate your type of business from home.  Parking, excess noise, odors or fumes and vehicle traffic can be a nuisance to your neighbors.  If reported, your business can be shut down.
 
If heavy public traffic is necessary for business success, check with your local department of transportation or association of governments to obtain detailed traffic studies available to assist you in determining the best location for your business.
 
 

Contracts can be nullified or terminated under certain circumstances with or without a counteroffer.  Only the parties to the contract may terminate it.  Reasons for ending a contract include, but not limited, to:

1. Impossibility of performance – one of the parties is unable to or it’s impossible for them to perform
2. Breach of contract – when one of the parties intentionally does not meet its contract obligation
3. Prior agreement – if there’s a prior agreement in place that makes either party unable to perform
4. Rescission of a contract – when one of the parties has misrepresented themselves, acted illegally or made a mistake
5. Completion – once all obligations in the contract have been met and the contract ends.

In order for any contract (or agreement, preferable in writing) to be valid, there must be:

1.    Offer – a promise of one party (offeror) for exchange of a service, product, act, etc., received by another party (offeree) for money or something of value 
   
2.   Acceptance – the offer must be accepted by the offeree
   
3.  Consideration – the mutual benefit to both the offeror and offeree in the offer and acceptance 
   
4.   Mutuality – the understanding that both parties in the contract are bound to it or neither is
   
5.   Competency and capacity – that both parties are legally competent and have the capacity (e.g., not a minor, incapacitated or intoxicated) and can legally enter into a contract and be held liable 
   
6.   Written instrument – can be in the form of a letter, website, email, fax, behavior, and is signed and dated
   

Choosing a name for your company is one of the single-most important steps in starting your business.  With over one million businesses starting in the U.S. each year, it’s becoming increasingly more difficult to find a name that’s unique and doesn’t violate trademark laws.  Be sure to select a name that gives a good impression of your company and name recognition in the marketplace.

Whether you hire a graphic designer or image consultant, conduct a formal and informal survey, or name your company after yourself, select a name that:

1.   is short, simple, distinctive and easy to remember;
2.  doesn’t imply the business is something that it’s not;
3.  doesn’t have connotations in English or other languages that can be construed as negative or insulting;
4.  has an acronym that’s not negative or insulting;
5.  you can secure the “.com” or other extension (e.g., “.net”, or “.org” for not-for-profits; “.edu” is for educational institutions and “.gov” is government agencies);
   
6.  will stand the test of time and isn’t dated in a short period;
7.  can expand to national or global proportions;
8.  includes the nature of your business or its products or services in it;
   
9. will help build your company brand; and
10.  has the potential for mass public appeal.

Defining and developing your business model will help you in the preparation of your business plan.  It describes the value of how your company converts its products and services into revenue.  For example, if your company provides products/services such as food services or hair styling, that business model is considered “on demand.”  Amazon.com is one such business; order today and receive in a day or two.  Other familiar types of businesses include consulting, online subscription-based, contract manufacturing, distribution, retail or franchise (or turnkey). 
 
The business model is important in that it lays the groundwork on which the business is built taking into account all aspects of the business to include:

•  problems the products or services solve;
• how products and services are provided;
• economics of providing products and services;
• markets for products and services;
• how revenue will be generated;
• competitors in the marketplace;
• how market share will be garnered;
• competitive strategy; and
• environment in which the business functions (e.g., technologic, economic, political, legal, social or cultural).

Your #valueproposition is a statement that tells your customer why they should do business with you and not your competitor.  This statement should be clear and in language that is easy for anyone to understand.  6 elements of a value proposition include:

• why your product(s)/service(s) is/are superior to that of your competition;
  
• what your product(s)/service(s) do;
• how well your product(s)/service(s) do what they do;
• how well it will benefit them;
• how well you can deliver; and
• what sets your company apart from the competition.
  

What’s going on when we search all over trying to find the answer? What are we really searching for? Without being too presumptuous, might I suggest that we are in search of something greater than ourselves.   Read more.  https://agreatlife2day.wordpress.com/2017/06/14/nobody-greater-than-you/

As a small business owner, being a legal “expert” is not a requirement, however, there are business matters where the advice of a qualified attorney is indispensable.  Some of these issues include:
 

• deciding on the best legal structure for the company;
• understanding the barriers to entry in a market or industry;
• understanding risks of starting the desired type of business;
• knowledge and adherence to federal, state and local laws and regulations that govern that type of business;
  
• protecting the business from lawsuits;
  
• adhering to the laws and regulations for hiring employees;
• applicable environmental issues;
• truth in advertising and promotion;
• contracts and negotiations;
• protecting intellectual property or licensing to and from others;
• length of time records are to be kept;
• taking on investors; and
• understanding the barriers to exit.

 
As part of your business start-up and in preparing your business plan, all of the issues above and more need attention and consideration.  Any questions you have should be directed to attorneys who specialize in each of those areas.  Don’t risk trying to figure out a legal problem just to save money.  It’s true that attorneys can be expensive, but the cost is much greater if you have to hire one to mitigate or repair any damages that have arisen.

Proof of concept is the way in which products, ideas, theories or methods are introduced and demonstrated to the world.  It is the proof that something has been thought out, presumed to have applicability to the world, has been tested, and can be feasibly produced and sold.  The importance of proving a concept is to:

1. Provide stakeholders (e.g., investors, partners, potential customers and employees) with a real sense of what is being created.  Gives them the ability to see, touch and/or feel the creation.
   
2. Eliminates the investment of and excess waste of money, time and energy on full-scale production.