nd to make certain that the corporation is in compliance with applicable tax laws.
In order to encourage and retain employees, I would emphasize to each employee that they are either involved directly in the company's sales efforts or indirectly in sales support. I would emphasize profits over sales. I would focus on long term business relationships over short term profits. I would encourage employees to act as if they were owners of the company rather than simply employees. I would recognize and reward superior performance, and I would make certain there were consequences for substandard job performance. I would not rely on past success to ensure future profitability meaning that as a software company I would focus on expanding and enhancing existing software programs, and on creating new software to address different needs or different target markets.
There are a large number of potential problems that my new company would face. One of them is the fact that many new companies fail because they are unable to generate the expected sales and profits. To address this, I would consider debt financing and equity financing. As a general rule, the more money the entrepreneur invests in the new venture, the easier it will be to attract debt and equity financing. One of the biggest risks facing new ventures is that they are under capitalized. Another common problem is that a competitor that is better funded or more established in the marketplace may decide to compete head-to-head with my company and despite my best efforts I will lose market share to that competitor.
Public companies are corporations. One person operations such as a service I use on occasion to detail my car is a proprietorship. Two friends of mine left college and formed a company in which they are equal partners – meaning that company is a partnership. One of the companies I worked for in college was a sub-chapter S corporation which offers the limited...