Have you ever wondered how the term “business” first came about? I imagine it happened as follows: One night a very long ago, the collective intelligence, creativity and drive of two innovators collided, producing an unwielding need to trade/sell a specific product. They had perfected this product so much that its use had outgrown their own self-sufficient life and had surpassed their own need. They knew their product was needed and wanted by others.
“But how?” Their idea was too powerful to keep just between themselves, so they hit the ground running and presented their product to others. Then, Poof! People gave something of value in exchange for their product, and thus, “business” was born. As the concept needed a name, they pondered, “what about calling it ‘busyness’ as we have been in a state of busy ever since we began exchanging our product.” Realizing that the term was painfully literal, and would likely disincentivize others from engaging in such an exchange, they replaced the “y” with an “i”, and the term “business” was born.
Hopefully the story above provides a bit of humor to your day, and especially to the day of those business owners who feel like Bartholomew Cubbins in running their business. (Dr. Suess, The 500 Hats of Bartholomew Cubbins).
Only business owners truly understand what owning a business is all about. With all the “busy” that is involved in building your business and operating your business, it is imperative to surround yourself, your business, and your family with those trusted advisors who understand what it means to own and operate a business. Those who pay the the rent understand the value of having fixed expenses, known costs, a budget, and a hand shake. You know your a business owner when receiving a paycheck is a goal, rather than a known event.
In addition to managing the general operations of a business, maintaining the limited liability structure of a corporation or LLC and keeping up with all the legal formalities, reporting and general legal requirements requires some effort on behalf of the business owner. Every bit of effort put towards maintenance is worth it. We at Borakove Osman LLC believe that consistent maintenance and continual nurturing of the business structure is imperative to sound, profitable entities.
Our Small Business Counsel Maintenance program is exclusively designed for small businesses by a third-generation small business owner. Check out our website for more information about our Small Business Counsel Membership(sm), the only one of its kind I am aware of in Dane County, Wisconsin (and perhaps Wisconsin): www.borakoveosman.com/small-business-counsel/