Starting a Small Business/more information

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Question
Hello David: i contacted you before to ask about starting a business.
I will try and add some information. I would be interested in a couple of businesses. I would like to start selling products online.
I also would like to maybe do something in the tourist industry. I live in western cape breton, a very popular tourist destination. also i am 12 minutes aways from cabot links golf course. cabot links is a new course that is becoming world famous and another course is opening beside it. http://thechronicleherald.ca/travel/287095-golf-digest-hails-cabot-links-in-cb
I have a big house which i could rent out by the week.
I am looking for ideas.
I have computer skills. i am well read. went to university.
i am not sure what else i can add, haha
but i would appreciate any ideas
thanks

Answer
Jerome,

Renting out your house sounds like it might be something to look into since it is located in a popular tourist destination. The internet has made it much easier to let potential renters know about the rental of your house.  

For more ideas, the best thing is to brainstorm.  One way to do that is to look at lists of potential businesses, such as the list at Entrepreneur.com at http://www.entrepreneur.com/businessideas/index.html

Another way to brainstorm is to sit down with a couple of friends who know you pretty well.  They can possibly see ideas that would work.

I personally recommend that you stick to something that you know very well and is relatively low risk.  There is nothing wrong with trying something new and failing, since the lessons learned from failure can lead to great success.  However, young people have a much longer period to recoup their losses from a failure while people closer to normal retirement age my not have enough time to apply the lessons to earn back their losses.

Good luck with whatever you decide.

David  

Starting a Small Business

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David K. Staub

Expertise

I am a business and tax attorney and have spent more than 35 years assisting people in starting a wide variety of businesses. I can answer questions about the basic differences between the various entities available to new businesses, including limited liability companies, corporations, S corporations and partnerships. I can provide guidance in other areas facing start ups, such as hiring employees, signing contracts and obtaining necessary licenses. I can also direct people to sources for answers to specific legal questions which cannot be answered in a forum of this nature.

Experience

I have an extensive practice in the mergers and acquisitions area and have been involved in the tax and legal issues on hundreds of business transactions.

Website
Staub Anderson LLC
Illinois business attorneys

Practice Areas
Business Organizations
-Corporations

-LLCs
-Partnerships

-Joint ventures
Mergers & Acquisitions
-Buying/selling business
Securities Law
Tax Law
Technology Law
-Software licenses
-Development agreements

Trademarks

Organizations
Illinois State Bar Association; Chicago Bar Association (former Chairman of the Corporation & Business Law Committee and former Chairman of the Mergers and Acquisitions Subcommittee; former Executive Committee member, Federal Tax Committee and Chairman of subcommittee on general tax issues); Keystone Foundation (Trustee); Association for Corporate Growth; Midwest Entrepreneur Forum; Midwest Association of Alpha Delta Phi

Publications
Commerce Magazine; YLS Journal; ISBA Section of Taxation Newsletter

Education/Credentials
Harvard Law School, J.D., 1977; University of Illinois, B.S. in Accounting, with highest honors, 1974

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