A client inquires as to how to structure a new business venture from an entity perspective?
The question is a good one. As I read the question the following popped into my mind. Only once during my academic journey did I forget about a test. Remember, “It’s what you learn after you know it all that counts.” I totally bombed it. I didn’t study for it, I wasn’t prepared for it—and I most likely failed it, although I don’t recall the dismal results. Needless to say, when I got my first “real job” in the “real world” I was looking forward to no more tests. Boy, did I still have a lot to learn. Throughout the travels of my professional journey, quizzes, open book tests, final exams, papers, and homework were all still a big part of my life—although getting a paid by clients was a nice perk compared to my academic journey. The reality is clients and prospects test us every day. For the most part we get very good grades because we are prepared, we work hard, we know when to ask the super genius who is our reference source, and we strive to understand the curriculum, i.e., our clients’ businesses and their needs, better than anyone else. Consequently, the best way to gain the clients trust is to deliver world class service (ace the test as proposed by the client). Do what you promise and in a timely manner. I like to say that “We autograph our work with excellence.”
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Wayne C Markey
Attorney, CPA, Certified Business Appraiser (CBA), Small Business Consulting & Tax Issues for the state of Maryland and surrounding Baltimore metropolitan area