5 Quick Things You Can Do Right Now to Protect Your Website

Now is a great time to make sure you’ve got the right legal paperwork in place to protect your website before the holiday season begins. Here are five important tasks you can take care of fairly quickly. 1. Entity Check. Make sure your business entity is in good standing in the state where you formed it. You’d be surprised at how many Internet business owners have to clean up a mess after the fact when their corporation or limited liability company disappears because of a missed report filing deadline or a late corporate franchise tax payment. 2. Services Contracts Check. If you’ve got anyone that’s providing services to your Internet business as an independent contractor, confirm you’ve got written agreements in place that make this relationship clear. This reduces your risk of getting hit with unemployment or workers compensation claims by a services provider claiming to be an employee. In […]

Richard Branson: The Secret of His Success

Social media is abuzz today with Sir Richard Branson’s decision to let Virgin Group’s salaried employees take as much time off as they want. There are undoubtedly thousands of ecommerce company executives right now planning to copy Branson’s new HR policy. After all, if it works for the British billionaire, surely the policy will benefit your business too. Right? You are not Richard Branson This may be a good deal for Branson and/or his employees. That doesn’t mean it will work for your company. Richard Branson’s business is not your business…and you are not him. What might work for him doesn’t necessarily work for you and your employees. You are not Warren Buffett You see the same type of mistaken assumption when it comes to other billionaires like Warren Buffett. There are hordes of investors trying to copy Buffett’s strategies and tactics. Yet they are not Buffett and they lack […]

Avoid the Alibaba mistake when buying an Internet business

Would you buy an Internet business like Alibaba from a Nigerian spammer? Think the Alibaba.com IPO was a good ecommerce investment for those who bought last Friday? Before you answer that question, imagine you received a Nigerian spam email that offered you equity in Konga.com. When you read the fine print, you discover that you would really be buying shares in a Cayman Islands’ shell corporation that has a contract to receive Konga’s net profits. Would you invest? Of course not. Even though Konga is a legitimate website, you wouldn’t be buying equity in the entity that owned Konga. The real winners in Alibaba’s initial public offering There were definite winners in Alibaba’s IPO. They include the company’s founder (Jack Ma), the Chinese government, and the usual Wall Street suspects as underwriters (Goldman Sachs, JP Morgan Securities, Citigroup et al.). What did people buy in the Alibaba IPO? But what […]