If I Were Starting A Business…

January 22, 2018  |  By

There has never been a better time to start a business. The power of the internet coupled with plummeting startup costs (and if you’re in the US – advantageous tax regulations) creates the perfect backdrop for anyone looking to start their own business.

As a corporate lawyer who works primarily with startups and small businesses (I’ll define these as <$20M a year in revenue), I’ve learned quite a bit over the past 10 years.

In that time, Vela Wood has organized a few thousand businesses, facilitated several hundred venture financings and M&A transactions, and had tens of thousands of conversations with founders about every thing from choice of entity to selling the business, and anything in between.

There are so many similarities between a small business and a startup that my counsel is oftentimes the same for similar problems. So as I’ve been thinking about this series, I’ve been torn between using examples for just a startup, or just a small business. But I think it would be best if I could do both.

So what I’m committing to is at least 25 blogs in this series, probably more, on how I would start a business. Sometimes the commentary will diverge between startups and small businesses, sometimes it will be identical. But I hope that all will be valuable.

I’ll pull from other VW resources, like past blogs, charts, and our Venture Glossary, and I’ll definitely work to incorporate your feedback. So please feel free to post below, or email blogs@velawoodlaw.com.

Next, I will lay the groundwork for how I’m differentiating between the two. And then we’ll get started.

Next: What’s the difference between a small business, and a startup?
Posted in: General Business

About the Author(s)

Kevin Vela

Kevin is the managing partner at Vela Wood. He focuses his practice in the areas of venture financing, M&A, fund representation, and gaming law.

Learn More


Other Posts in this Series
1 of 26 If I Were Starting a Business
If I Were Starting A Business…
2 of 26 If I Were Starting a Business
What’s The Difference Between A Small Business And A Startup?
3 of 26 If I Were Starting a Business
Your Idea Is Worth Nothing
4 of 26 If I Were Starting a Business
Pitch Decks Are The New Business Plan
5 of 26 If I Were Starting a Business
Find Some Naysayers
6 of 26 If I Were Starting a Business
Make An Investment In Legal
7 of 26 If I Were Starting a Business
Everyone Should Vest
8 of 26 If I Were Starting a Business
How Founder “Vesting” Really Works
9 of 26 If I Were Starting a Business
Forming an Entity (LLC v. C-Corp)
10 of 26 If I Were Starting a Business
Working With Developers
11 of 26 If I Were Starting a Business
Design Is About Input
12 of 26 If I Were Starting a Business
Finding a CPA
13 of 26 If I Were Starting a Business
Why You Should Be Anti Anti-Dilution
14 of 26 If I Were Starting a Business
Dilution Done Well
15 of 26 If I Were Starting a Business
The Three Levels of Control Within an Organization
16 of 26 If I Were Starting a Business
Grant Your Equity Wisely
17 of 26 If I Were Starting a Business
Pricing Stock Options
18 of 26 Understanding Basic Contracts
Understanding Basic Contracts: The Termination Clause
19 of 26 Understanding Basic Contracts
Understanding Basic Contracts: Terminating for Material Breach
20 of 26 Understanding Basic Contracts
Understanding Basic Contracts: The Indemnification Clause
21 of 26 Understanding Basic Contracts
Understanding Basic Contracts: The Payment Provision
22 of 26 Understanding Basic Contracts
Understanding Basic Contracts: The (Ir)Relevant Title
23 of 26 If I Were Starting a Business
How Much Equity Should We Get?
24 of 26 If I Were Starting a Business
Beware Of Your First Investor
25 of 26 If I Were Starting a Business
Believe In The Value Of Your Product
26 of 26 If I Were Starting a Business
The Hidden Cost Of Accelerators