Posts Tagged ‘Estate Planning’

Identify your needs before you take a loan

Loans, international markets, investments, making money, merger | Posted by admin
Apr 16 2010

To accomplish a task successfully, the first thing the partners should do is sit down and plan what it is they are going to do. The Initial Activity Team Checklist and the Agreement Between Partners Checklist will help them remember key items. I like checklists. Pilots, regardless of the number of hours they have logged on a certain type of aircraft, always complete a preflight checklist before taking off. It’s wise to do the same with any important activity—and the initial activity in a partnership falls into the category of “important activity” for me. After all, you’ve spent time, energy, and money to identify your needs and find a partner. When you use these checklists, you and your partner must work together and talk through the issues to gain consensus.

I recommend that you write down your agreements—not to use them as a club should things go wrong, but to clarify issues as the planning proceeds. Sometime during the initial activity or immediately after, set a meeting to discuss with everyone involved how well the partnership is working. The key document you’ll want to review is the Agreement Between Partners Checklist.You’ll also want to address the relationship issues.Use the Partners’ Trust Assessment and/or the Partnership Stressors Checklist to assess the Stages of Relationship Development. Be sure the agenda you send out in advance has been written down or approved by the partners.

Credit option of last resort

Finances, Fiscal Regulations, credit score, crisis, economy | Posted by admin
Jan 08 2010

If none of these resources will work for you there is one final option. If you have valuables such as jewelry, antiques or stocks that are not a part of your retirement portfolio, and you are willing to part with them in order to fund your invention, you can sell them. We would only recommend this course of action if you have no other. Exhaust all other possibilities before selling off your valuables.

You can see that while there is funding available for Shoestring Budget™ inventors, there is no magic panacea. It is, instead, a common sense approach to creative ways to fund your invention. You can help to make up for limited funds by careful planning and cautious use of your limited resources.