Avoid this when Starting your Enterprise

Here is what you should avoid when starting your enterprise.

While the two corporate models for starting your enterprise are the non-profit model and the for-profit model, people more often choose either a sole proprietorship or a partnership.

As a sole proprietor you take all the risk and receive all the rewards. Whereas in a partnership you share the risks and the rewards. In my opinion, under most circumstances, the partnership way should be avoided. If you have the rare situation where you and the other partner(s) can agree on how the enterprise should be financed, managed, promoted, and how responsibilities should be shared, that would be fantastic. Even so the partnership agreement should be drafted, finalized and copies kept by each partner.  I don't care whether its a husband and wife, brother and brother or whatever.

As a rule, avoid the partnership arrangement. But if you feel that you must do it, make sure you have a clear, unambiguous written agreement.

I will have further things to say about my personal experience in a partnership and why I feel this way in my next blog.

If you have been involved or are currently in a partnership, let me know about your experiences, either positive or negative.

Is Health Care Really on the Table? Obama and the Republicans Meet

As Obama and the Republicans prepare to meet supposedly to put health care on the table, I am especially interested in seeing whether Obama really listens to the Republican medical doctor, Dr. Boustany, who will be in the group. Its one thing to listen to other politicians, but its another to listen to a real practitioner of the medical profession - especially one who is likely to return to the profession after politics. I was hoping another Republican doctor, Dr. Barasso, would also be in the group. I am not aware of any Democratic medical doctors in their group.

Obama makes it difficult to trust him. You wonder if this is just another theatrical act on his part. However, the Republicans are aware of his tactics and are prepared to present their health care proposal clearly and forcefully if necessary.

True negotiations takes place around a table where everyone is on an equal basis and starting from a clean slate.

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Health Care Reform Now - Take a Second Look

Although the Republicans are not in power, it is important to take a second look at health care reform from another perspective. 

By the way, contrary to what Obama and the Democrats are saying, the Republicans are not the party of no. We owe it to ourselves and to our family to become informed on what both sides are proposing regarding health care reform, then make a decision, and let our voices be heard.

Some of the reforms the the Republicans would like to enact into law include:

• Allow insurers to sell policies across state lines
• Create new state high-risk pools or reinsurance programs to provide people access to health insurance
• Allow small businesses to pool together in associations to purchase health insurance thus making it more affordable
• Discourage "junk" lawsuits by changing medical liability laws to limit non-economic damages
• Crack down on waste, fraud, and abuse in Medicare and Medicaid
• Beef up incentives for employer-sponsored "wellness programs" so that workers who participate could get bigger breaks on insurance premiums

Check the The Republicans' Plan for more information.