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The HBS Blog


The HBS Blog offers insight on Delaware corporations and LLCs as well as information about entrepreneurship, start-ups and general business topics.

Share Your Story on The HBS Blog
By Carleigh Lowe Wednesday, May 18, 2011

The best thing about our day is talking to YOU, our clients and learning about your stories and unique journeys as entrepreneurs. Now, we want you to share your story on The HBS Blog. I hope you find the questions below helpful to get the juices flowing. If you want to Share Your Story on The HBS Blog, we would love to hear it. Please submit it to our Managing Editor, Carleigh@delawareinc.com.

1.    Where were you and when did you come up with the idea for your business?
2.    What inspired you to take the leap and start your business?
3.    Can you talk a little bit about what you needed to start-up, whether equipment, training, or seed money? How did you secure those things and get what the business needed to get started?
4.    What was your first concrete step in starting your business?
5.    Share with the Harvard Community a situation that turned out to be one of your greatest challenges as a business owner? How did you handle it?
6.    Can you talk a little bit about specific things that you have done in order to survive in business during economic downturns, recessions, and otherwise tough times?
7.    What would you say is one of your biggest pet peeves as a business owner? How do you cope with it? What do you find most challenging about running a business?
8.     What do you find is the most rewarding aspect of owning your own business?
9.    If you could offer a piece of advise for those out there who are just starting out or thinking of starting a small business, what would it be?
10.    What are you up to now? What are you looking forward to?

Please also include your name, company name, website, contact info and a brief explanation about your business.

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Delaware: The Complete Package for Business
By Brett Melson Tuesday, May 17, 2011

What state incorporates more than 63% of fortune 500 companies and 76% of all new Initial Public Offerings in 2010? One might think it must be a large state with many major cities, but that state is Delaware, which continues to attract more companies each year, further reinforcing its predominance. There isn’t one single reason why Delaware has long been the favored state for incorporating.  This enviable position is because of the total package of incorporation services, developed and refined over the years.

Delaware’s centuries old Court of Chancery has written most modern U.S. case law, while interpreting Delaware’s General Corporation Law, which is known as the most usable and advanced business formation statute in the nation.  The Division of Corporations in this business-friendly state provides state-of-the art service to customers.

The Division’s 2010 Annual Report, summarized below reviews progress, developments, and marketing efforts which keep Delaware the premier state for incorporations.

New entity formations grew 15.5 %

70% off all new filings in 2010 were LLCs

24% of new filings were corporations

2.5% increase in active business entities since 2009

17 consecutive months of growth since the national economic recovery began in 2009, with 20% growth in the first three months of 2011

76% of all new Initial Public Offerings (IPO’s) are Delaware entities. (Such as LinkedIn & Pandora Media)

Incorporation revenue made up 26% of the State’s general fund for 2010

Marketing efforts included many trips worldwide looking for opportunities to expand Delaware’s global market share

The total package, with Delaware’s General Corporation Law, Court of Chancery, and Division of Corporations working together to reinforce each other, make Delaware the premier home for corporations today.

To view the complete report, go to http://www.corp.delaware.gov/10CorpAR.pdf

 

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Video: The Entrepreneur's Journey
By Brett Melson Monday, May 16, 2011

Webster’s Dictionary defines an entrepreneur as one who organizes, manages, and assumes the risks of a business or enterprise. Over the years, many have called entrepreneurs the backbone of our country. America’s booming entrepreneurial spirit keeps our country going. With constant change comes opportunity, and the innovators of this country respond in a positive way, profiting from change rather than ignoring it. It takes a special kind of person to set an idea into motion, take risks and sometimes push the limits of what is known or understood. Most successful entrepreneurs share certain traits and values, including a high level of creativity and an independent spirit.

It’s often not the traditional path that  makes entrepreneurs, it’s the internal focus of believing in themselves and listening to intuition. They like challenges, and the risk of a new business venture is the perfect challenge.

This 24 minute video, The Entrepreneur’s Journey, captures the passion, positivity, and adaptability of these innovators who have improved our quality of life and continue to accelerate global change.  Click here to view the video http://vimeo.com/19986675

 

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Tips for Productive Meetings
By Carleigh Lowe Wednesday, May 11, 2011

Meetings at the office can be serious time and productivity killers. Here are some tips from American Express' Open Forum.com to learn how to make the most of them. 

Many business meetings seem to be populated with people who derail and prolong discussion and who then wonder why nothing ever gets accomplished. Dealing with these offenders requires playing a strong offense, rather than relying on defense. Good meetings don't just happen. They must be actively planned for and managed.

Before the Meeting:

1. Set goals

Whether it is a standalone session, weekly or monthly review, or one in a series covering an ongoing project decide what you want to accomplish.

2. Prepare an agenda

Ask key players if they have agenda items so that you can plan the meeting content appropriately. If urgent items mean that your meeting may be hijacked or diverted, revise your meeting goals and plan another session.

3. Send out the agenda before the meeting

Provide background information that participants need in order to engage in productive discussion. Give specific instructions on actions that participants need to take before arriving at your session—ask them to brainstorm ideas on a certain topic, gather information for presentation, or send reports for review.

During the Meeting:

4. Start on time

Explain the ground rules for discussion—limiting times on certain topics if needed—and remind participants of your desire to keep the meeting short but productive.

5. Identify those topics that need further discussion in another meeting

Interject that you or someone you nominate will plan a smaller-group session to explore these issues.

 

 

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Best and Worst States for Business
By Carleigh Lowe Tuesday, May 10, 2011

Wondering where to base your business? Take a look at this list from an article on Cheifexecutive.net. See excerpt below:

More than 500 CEOs considered a wide range of criteria, from taxation and regulation to workforce quality and living environment, in our annual ranking of the best states for business. The charts and articles in this special report show how each state fares on the factors most essential for a business-friendly environment—as well as what states are doing to attract and retain companies in the increasingly competitive battle to win site selection.

While the Lone Star State may not be perfect—many leaders would like to see improvements in its education system—it is Periclean Athens compared to California in the eyes of the 550 CEOs surveyed for Chief Executive‘s seventh annual report on the best and worst states in which to do business. It’s the seventh time in seven years running that Texas has led the states, and the seventh year California—to no one’s great surprise—ranked as worst state.

Top Ten States

  1. Texas
  2. North Carolina
  3. Florida
  4. Tennessee
  5. Georgia
  6. Indiana
  7. Virginia
  8. South Carolina
  9. Utah
  10. Nevada

 

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