Recommended books for those seeking to improve their talent management.

A word of advice for companies thinking about forming a business alliance: Before launching any partnership, make sure both parties agree on how you’ll know, and what you’ll do, when it’s over.

An exit-plan must clearly specify the point of disengagement, tells both parties what their subsequent rights and responsibilities are, and provides a clear and effective procedural map that minimizes time and capital losses. A successful disengagement plan should comprise the following:

1. Clear definitions of what both parties will consider as exit triggers, or events that will set off specific exit provisions.
2. A detailed description of each party’s rights in a fair separation of the partnership’s assets and products, as well as a determination of rights and responsibilities
3. with regard to third parties, such as customers, suppliers and employees of the alliance.
4. A detailed description of the disengagement process, including specific strategic options, guidelines for creating the core disengagement team, and clear timelines.
5. A communication plan for continuous flow of information to alliance partners, customers, suppliers and other involved parties during the dissolution.

Maintaining transparency with partners, customers, employees and even rivals helps to manage the impact of news about the breakup on financial markets; it also helps maintain morale at the alliance, and helps to preserve any value that remains in the alliance. Lack of transparency leads parties to focus on protecting their own interests without regard for those of the partner, and eventually causes things to implode.

startupjournal.com

Smart ways to build your nest egg, whether you’re a business owner starting up, in your prime, or cashing out.

As surely as seasons change, entrepreneurs face a new personal finance challenge at every turn, whether it’s a sudden cash flow squeeze or a hike in taxes. And with stocks now wobbly, the path to wealth may seem less certain than ever. That’s why FSB recruited expert financial advisors to give custom-tailored advice to three busy entrepreneurs: one who owns a budding apparel company, another who runs a successful mortgage business, and a third who has just cashed out and is now considering his options. Here are some financial tips, including the latest on new tax laws and strategies, to help you make the most of life’s seasons.

Read more here

Jingle Networks, a Menlo Park, Calif.-based directory assistance service, has added a new feature that allows users to search the Yellow Pages for phone numbers and addresses by business type and location from any phone at 1-800-FREE411.

The free service also allows advertisers to reach consumers looking for their type of business, and as such can be used as a branding and direct-response media channel for targeted messages, the company said.

Inc.

“The Secret” offers guidance and personal narratives about creating the life you want. The essential lesson of the book is how individuals attract (and create) the life they want through their thoughts, attitudes, and emotions.

Whether you accept the full metaphysical premise of the project or not, the lessons of “The Secret” resonate with knowledge that successful entrepreneurs have understood for decades. So, with a tip of the hat to the creators of “The Secret,” here are some principles designed to guide you in your solo business.

1. Intention rules all - Successful solo entrepreneurs understand that singleness of purpose is a potent force.
2. Clarity is crucial - Be specific in your targets.
3. Seek the joy - Chase passion, not profits.
4. Magnetize your connections - Be the type of person you want to associate with, the type of company you would like as a partner.
5. Take action - Merely thinking about having a successful company is not enough.
6. Expect the best - Expect great things from yourself and your company, and put forth the effort to build the professional foundation to support your aims.
7. Multiply the gratitude - Give thanks for all that you have, for no matter what your situation, there is much to be grateful for.

Working Solo

By KELLY SPORS at startupjournal.com

The exact rules for forming a limited liability company, or LLC, vary by state. An LLC is similar to a partnership but has the legal protections of personal assets that a corporation has without the burdensome formalities, paperwork and fees.

All new LLCs must file so-called articles of organization with their secretary of state’s office. This is usually just a short form that asks for the names of the LLC and its members and their contact information, along with a filing fee that ranges from $30 to $200. A few states also have other registration requirements. You can find the rules and fees involved at your secretary of state’s Web site or at http://smallbusiness.findlaw.com/business-structures/llc/. Click on “State Guide: Forms and Filing Fees for Business Formation” under the Tools & Resources section.

Though it’s often not required by law, you should draft an operating agreement for your LLC that spells out the details of the business arrangement, including members’ percentage ownership, roles, rights and responsibilities, says Anthony Mancuso, a business attorney in Berkeley, Calif., and author for Nolo Press. Having such an agreement can help protect the LLC structure if it’s challenged in court and prevents you from having to default to state operating rules.

You don’t have to hire a lawyer to set up an LLC, since state requirements are usually self explanatory. But it’s a good idea to have one read over paperwork and operating agreement to “make sure your interests are protected,” says Mr. Mancuso.

Even though most states don’t require any annual paperwork or administrative procedures, you should document major business proceedings and lay out some formal procedures — like one meeting a year — to help protect your LLC status.

Some states charge annual fees and taxes that can diminish the economic advantage of choosing to become an LLC. California, for instance, charges an annual $800 LLC tax along with a $900 to $11,760 annual fee based on a business’s total annual income exceeding $250,000.

As a small business owner, it often feels like everyone is trying to sell you something. But sometimes, companies give stuff away.

That’s the case with the online resource offered by Hewlett Packard Small Business.

Granted, they hope you’ll eventually buy something when the need arises, but the information and services can be a boon to business owners—and all of it’s free.

Hewlett-Packard Small Business has a wealth of free tools, tutorials and templates on its site geared toward small business customers.

One of the main attractions of the site is the Business Templates area (not surprising for a printer company), which offers about 700 pre-built designs for Microsoft Office, CorelDRAW, QuarkXPress and more. Most interesting to small business owners is the collection of agency-quality graphic design templates from StockLayouts, where you’ll find great-looking brochures, letterhead, flyers and so on.

But templates are just part of the story. Beneath the Learn & Use banner is a link to free online classes in HP’s learning center. These have the feel of genuine online college or post-graduate courses — complete with lesson breakdowns and even recommended prerequisites — and are taught by well-qualified instructors. You need to register and enroll for a given course, but all are free of charge.

HP offers a few dozen courses in all, broken down into specific areas such as Software & Technology, Business Skills and In-house Marketing. Recent additions include an introduction to using Adobe Photoshop CS2 and understanding Microsoft Vista Business Edition.

You’ll want to bookmark the page and check back often, as HP conveniently flags which lessons are new or updated and shows which new courses are coming soon.

Small Business Computing