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Entrepreneur's Beware!
By Sandy Pensner
For most entrepreneur's, there is nothing more exciting than starting your own business. Working for
others may be a necessity so you can get on your feet, gain some experience and a book of business,
and move forward securely, but it is hardly the ideal for a true entrepreneur who has the spirit and
passion to go out on their own.
While this entreprenerial spirit can be positive, and indeed most of the great pioneers in American
history have been truly entrepreneurial in nature, this personality type does lend itself to some
signficant flaws. Primary among them, entrepreneurs are often too positive in nature, too willing to take
on risks that maybe they should not, and too passionate to move forward without often doing the
necessary research to do so in the best manner possible.
This is often true with regard to the structure of the business. Indeed, many entrepreneurs do not even
bother incorporating. Especially for an online venture where it is simply too easy to open a new website
to try selling a new product or service, the process of incorporating can seem to just "get in the way" of
going ahead and making money!
However, there are some very important advantages to incorporating a business, and a good
entrepreneur would be wise to take heed before moving forward. One advantage is that if your
business is a limited liability corporation, this means your individual assets are not at stake as they
would be if you were the sole proprietor. As a shareholder, your risk is determined by the amount you
have in