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Personal Liability in Owning and Running a Business

Personal Liability in Owning and Running a Business

by Lea Strickland | Aug 5, 2025 | Business Articles, Business Ownership, Legal

Owning and operating a business entails various responsibilities, including tax obligations, payroll management, and loan repayments. Understanding personal liability, including when it arises automatically, when it’s voluntary by agreement, and when it results from...

Sometimes You Just Have to Laugh

by Lea Strickland | Jul 31, 2014 | Business Articles, Business Ownership, Perspectives, Small Business

The only thing we truly have choices about and control of is our reactions (to people, events). While it is often challenging or nearly impossible to “be reasonable” in our reactions to things that happen and things people do, channeling the energy we lose...

“Owning” the Business

by Lea Strickland | Jul 31, 2014 | Business Articles, Business Management, Business Ownership, Leadership, Small Business

You may be the business owner, but do you really own your business? “What is the difference?” you may be asking. Well, it comes down to whether you are truly taking responsibility and accountability for making things happen— especially the making the hard calls, the...

Do You Own Your Business?

by Lea Strickland | Jul 31, 2014 | Business Articles, Business Management, Business Ownership, Execution, Leadership, Non-Profit, Small Business, Small Business

You may be the owner of a business, but do you OWN the business? Are you taking on the roles and responsibilities of making things happen? Are you stepping up to understand what’s happening, what’s supposed to happen, and most—if not all—the requirements of running,...

Distinguish between Your Role as an Owner and an Employee

by Lea Strickland | Jul 31, 2014 | Business Articles, Business Growth, Business Ownership, Leadership, Small Business, Start-up, Women In Business

When a business has two or more owners taking an active role in running the business (acting as employees), it is necessary to distinguish between decisions made as owners and those made when in the employee role.   Significant conflicts can arise and contribute to...

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