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For Email Newsletters you can trust About the Smartfast Blog
The pace of business keeps you on the run. You need to make (SMART) decisions and take action quickly (FAST). Business attorney Jean Sifleet created the SMART FAST® blog to help. Whether you’re a start up company or an established company, SMART FAST® provides information that can help you make more informed business decisions. This is information – not legal advice.
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Category Archives: Business Systems
Startup Learnings – Systems, Cash Flow & Recordkeeping
Growing your business requires handling more work. Systems are critical to handling the work and the people in a predictable and consistent manner. Just like sidewalks and highways make cities function better, systems are the infrastructure for business growth. Many … Continue reading
Entrepreneurial Sabbatical — Dog Daycare & Pet Boutique
I have not been posting for the past six months because I have been on an “Entrepreneurial Sabbatical”. Over the years, my practice as a business attorney has grown and provided many great opportunities to help clients solve business problems. … Continue reading
Sweat Equity
In the start up of a business, it’s common for some people to contribute money and others to contribute time and effort with “an understanding” that they will share in the future success of the business. Sometimes “equity earn-ins” are … Continue reading
Convert “Pirates into Partners”
At a conference on Innovations in Learning, sponsored by Brandon Hall Research (See: www.brandon-hall.com), I learned about how new technologies are being used to create “communities” that engage users – and help to improve products and services and build businesses. … Continue reading
Posted in Business Practices, Business Systems, contracts, Copyright, Innovation, Intellectual Property, Legal, Social Media, The Cloud, Uncategorized, Web-based services
Tagged Amazon, Collaboration, Copyright, eBay, Fair Use, Harry Potter, Intellectual Property, Partners, Pirates, Star Wars
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“Being Wrong” – Learning from Mistakes
There is an old adage that you learn more from your mistakes than your successes. But “being wrong” is hard to face. The natural human tendency is to want to be “right” and to dig into positions based on “beliefs” … Continue reading
Franchises — Advantages and Disadvantages
Want to own your own business? Don’t want to start from scratch? Is a franchise right for you? Franchises are a way to get into business quickly, with a brand name, proven methods of operation and a support structure. Franchises … Continue reading
Key Business Value Drivers — Intangibles and Employees
“Value drivers” distinguish successful companies from their competitors. While it’s easy to be distracted by all the demands competing for the business owner’s time and attention, successful companies focus on the key value drivers – which are frequently “intangibles” and … Continue reading
Posted in Business Model Profitability, Business Practices, Business Systems, Employment, Innovation, Intellectual Property, Legal, Non compete, Uncategorized
Tagged Copyright, Employees, infrastructure, Intellectual Property, Professional Services, Restaurants, Retail, Technology, Value Drivers
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“Law of Two Feet” – Catalyst for Innovation
I heard about “the law of two feet” at Innovation 2010, an UN-conference sponsored by Mass Technology Leadership Council. Basically, it means “If at any time you find yourself in any situation where you are neither learning nor contributing, use … Continue reading
Posted in Business Systems, Innovation, Intellectual Property
Tagged Innovation, Intellectual Property, Law of Two Feet
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Business Relationships – Predictable Stages
The predictable stages of business relationships are: Forming, Storming, Norming, Performing Business relationships usually start out in a glow of euphoria and progress through a series of predictable stages. Many business relationships stumble or fail. Understanding the stages can help you … Continue reading
Posted in Business Practices, Business Systems, Partnerships, Uncategorized
Tagged Forming, Norming, Performing, Storming
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10 Things I Learned from The Social Network – the movie about Facebook
10. An idea is not a business. The Winklevoss twins claimed their “idea” was stolen. But they did not build a business because they failed to implement their idea. They also seemed sloppy about protecting their confidential information and in … Continue reading