Fortune IP Group

💡OPERATING AGREEMENTS vs BYLAWS
👉Operating Agreements lay out the internal operations & financial aspects of an LLC
👉Includes management structure, member ownership, and & profit/loss distribution
👉Bylaws govern the internal operations of a corporation
👉Includes roles & responsibilities of the board, officers, & shareholders
☑️ Bylaws can be more complex and formal because of the structure of a corporation
☑️ Operating Agreements are usually more basic but still are highly suggested to protect the liability status of the LLC
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💡WHY A BUSINESS BANK ACCOUNT IS CRUCIAL
👉 A guide to separate personal & business finances
👉The Beginning of Your Business Credit Journey
👉A Shield Between Conflicts & Personal Assets
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👉ADVANTAGES OF WISCONSIN LLCs
☑️ Flexible Profit Distribution: Benefit of being able to select how you would like to distribute profits (BIG Tax Savings)
☑️ Enterprise Zones: If the new LLC is registered within an Enterprise Zone the business owner will receive additional tax credits
☑️ Top Public Education System: Boasts one of the best public university systems in the country. An easy effective way to find qualified talent
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👉THE SCALE SERIES: DEFINE
👉A word you will see often from us in 2025 is SCALE
☑️ Scale simply means to grow your business. But if you break it down scaling should be looked at in terms of 2x, 3x, or 4x (doubling/tripling your business revenue)
💡Baseline Rule: If an entrepreneur can make $30-$40k in revenue without having focused on scaling you have a viable business idea
👉Scaling $30k at 2x is $60k. Scaling $30k at 3x is $90k
💡Don’t let anyone tell you your business can’t or won’t be successful. Find your baseline & SCALE
👉Part Two of the Scale Series will explain 2x/3x and how to do it
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