You should hire a Business Lawyer in Miami
Not all small entrepreneurs in Miami sell physical products. Many of them have been able to develop a business and comfortable life by the selling of services. The range of services offered is very wide and heterogeneous. The business can range from a computer repair service to a consulting or training service, with focus on the expertise. In every case, you will need a Business Lawyer in Miami.
The fact that most of the services that can be offered do not entail a big investment, allows to easily overcome the entrance barrier that usually bigger companies have to face.
A group of people with a defined experience can start up a business as an independent services provider. The important thing in these cases, especially when talking about a group, is the making of a business plan that includes an operating plan, with: a clear definition of expenses; target monthly income; and future goals.
A detailed record of the time invested in each project
For a business of this kind, it is crucial to be able to have a detailed record of the time invested in each project/service. As the tangible value in this type of company is the “time”. (Apart from the know-how, of course.)
And the time must be measured taking into account not only the time involved in assisting each client but also the time used in the search for new prospects for our business. What we usually call in a company our costs of sale. Taxes must then be added. Usually, the financial section of a business plan clearly defines the earnings with the famous acronym EBITDA (“Earnings Before Interest, Taxes, Depreciation, and Amortization”). Elements to be taken into account in detail when planning our business.
If the owner keeps track of the time he uses in non-billable activities, he can think about ways to optimize his business model and make his time more profitable.
Why a Business lawyer in Miami?
Many people start selling services without a business model, without realizing that the independent work they do is, in fact, a home-based business. A business lawyer in Miami can be able to help an independent service provider; create a limited liability company; and make sure that the pertinent business obligations are being complied with.
In a previous post, we have referred to a new business lawyer paradigm, more involved and specialized, with the necessary tools to provide strategic elements at the moment of a business start-up.
By means of the creation of a business legal structure, the business or company owner will be able to get protection from the feared business liabilities.