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What does it really mean to be an Entrepreneur?

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We see that word a lot, especially in the business world. Entrepreneurship is an idea that is often tied to the concept of the American dream. An individual chooses to put their head down and work hard to open a business and are now reaping the benefits of investing their time, money, and energy.

For those of us who have a job in the traditional sense working for a company that we do not own, the idea of becoming an entrepreneur can be both exciting and intimidating. Not everyone is built to start a business and pour their soul into helping it grow and become their main source of income. So what does it really look like to be an entrepreneur in 2022?

Betting on yourself

Anyone who has started a business themselves will tell you that the key to success is believing in yourself, as cliche as that may sound. With all of the responsibility of the business falling on your shoulders, there is a lot of weight that you have to carry. Figuring out the product or service itself, marketing the brand online or through your network, and handling the logistics of owning a business are just some of the tasks that will fall on you. Depending on what industry you are in, you may need to take the time to be certified, especially for some trades where a license is required. Getting through “impostor syndrome,” or the belief that you do not have what it takes to achieve your goals, will be key to creating long-term success, but this is only possible if you truly believe in your abilities and your business.

Assuming all of the risk

The scariest part of being an entrepreneur is the inherent uncertainty. Will your business be successful? How long before you start to turn a profit? Will this business be able to support your livelihood both in the short term and in the long? These are questions that you will undoubtedly face as a business owner, especially early on. All of the risk associated with owning a business is yours. The best way to manage this risk is to seek assistance in the areas that you feel uncomfortable in. Don’t understand how to keep track of clients and invoices? Research the best software to help you. Having trouble with taxes? Hire a tax professional to work through the details with you. There will likely be aspects of owning a business that you will not even know exist, so be sure to do your research.

When starting out as an entrepreneur, embracing a mindset of continuous learning and adaptability is crucial. Stay curious and be open to new ideas and perspectives. Surround yourself with a supportive network of fellow entrepreneurs and mentors who can provide guidance and share their experiences. Additionally, seek opportunities to enhance your entrepreneurial skills through workshops, courses, and networking events. Explore more helpful tips and discover the ways to be an entrepreneur that can set you on the path to success.

Reaping all of the benefits

While there is significant risk associated with entrepreneurship, there is also the possibility of success. In the event of success with your business, you will reap all of the benefits of your growth. Whether that means achieving financial independence, or simply living out a purpose and feeling fulfilled, you receive the full reward as the owner of that business. This is what most entrepreneurs keep their focus on and what gets them through the long hours and extreme investment of their assets. They look forward to the day when they reach their financial or personal goals, which makes the whole journey worth it. 

The freedom of choice

This factor is especially evident with the wave of new businesses that have started since the beginning of the global pandemic. A huge number of workers have filed applications for new businesses in the last few years, with over 551,000 applications in July of 2020, a huge jump from similar time periods in years past. That trend has continued into 2022, with many workers leaving their regular jobs in order to pursue entrepreneurship. One of the main draws is the freedom of choice. You can choose what type of business to run, what product or service you will sell, what your company culture will be, where to allocate resources, and even what hours to work. People may have left previous positions for any number of reasons such as low pay, feeling undervalued, poor management, long hours, or simply burnout. By starting a new business, an entrepreneur has the freedom to customize the role to suit themselves. Even if there are long hours, the feeling of self-determined fulfillment can override the difficulty of running the business. 

Entrepreneurship should not be taken lightly

As stated before, becoming an entrepreneur is not for everyone. Even if you come up with a great idea for a product or service, you may not have the capacity or the drive to turn it into a thriving business. It is important to spend time in reflection and doing research before taking the leap to make sure that you understand what you are getting into and what it will take to be successful. Lay out your goals, come up with a plan, seek outside advice from people who know you and professionals in the field you are interested in, and then make a decision. If you choose to go for it, then be ready to defeat that impostor syndrome.

 

The idea of Bigtime Daily landed this engineer cum journalist from a multi-national company to the digital avenue. Matthew brought life to this idea and rendered all that was necessary to create an interactive and attractive platform for the readers. Apart from managing the platform, he also contributes his expertise in business niche.

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Business

From Contracts to Counsel: Your Essential Guide to Hiring a Probate Attorney in Chicago

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Like many people, you’ll come across the term probate after a loved one, such as a parent or spouse, passes away. So, what is probate, and why do you need an attorney for it? As defined in Forbes, probate is a legal process that occurs after death. It entails transferring the assets of the decedent (the person who passed) to beneficiaries named in their last will. 

With that in mind, having a probate lawyer by your side is essential. The last thing you want to do is deal with the legal complexities of settling a loved one’s estate while grieving. A probate lawyer oversees the validation of the deceased’s will and the fair distribution of assets among family members. One challenge lies in finding a top-quality probate lawyer.

In this guide to hiring a probate attorney in Chicago, we’ll discuss the tips to identify the right legal professional for probate proceedings. 

Understand the Responsibilities of a Probate Lawyer

It’s difficult to hire a talented probate lawyer when you don’t know what they do: Start by understanding the roles they play. 

When you work with a Chicago probate lawyer, some tasks they might do include: 

  • Act as an estate executor or administrator 
  • Collect proceeds from the life insurance policies of the deceased
  • Identify and secure the decedent’s assets
  • Get an appraisal for the deceased’s estate
  • Pay debts and resolve estate tax issues
  • Prepare and file documents required in probate court
  • Transfer assets to rightful heirs
  • Represent you in litigation proceedings if someone challenges or contests the will

A probate lawyer could also help you and your family navigate state inheritance laws if a loved one dies without a valid will. That way, you can avoid unnecessary taxes or other ramifications of not creating a will, such as losing ownership rights of the deceased’s business or financial support.

Search for Lawyers Online and Offline

You’re probably thinking, where do I find the best lawyer to hire? You could seek referrals from friends or colleagues. Friends who worked with probate attorneys before might provide important details, such as how the lawyers communicate and handle the probate process. 

Alternatively, do a simple online search using the terms “probate lawyer near me” or “probate attorney in Chicago.” Go through various websites or online directories and write names of lawyers with positive ratings and customer testimonials. Then, contact the potential lawyers to set up free consultations. Note that not all legal professionals offer free consultations, so make sure to ask before setting a time in your calendar. 

Ask the Right Questions

A free consultation provides opportunities to ask questions to better understand if the lawyers in question have the qualifications to handle your probate case. 

Four questions you might ask attorneys during the initial meeting may include:

  1. Do You Have Experience in Probate Law? 

When evaluating lawyers, prioritize experience. An experienced probate lawyer is aware of common pitfalls that can result in the probate petition being postponed or dropped by a judge. To feel more comfortable about an attorney’s expertise, ask them if they’ve handled probate cases similar to yours before. 

For example, let’s say the deceased owned a substantial estate or had complicated assets like royalties and mineral stocks. Working with an attorney with a track record of successfully handling cases like that could save you time and money in the long run.

  1. What Do Other Clients Say About You?

Experience alone doesn’t make a probate lawyer perfect for your case. Look for someone with an outstanding reputation. These reviews likely live on Google next to their business profile or are featured on their website. If you can’t find any endorsements, ask for testimonials written by past clients. 

One point to focus on is what reviewers say about the lawyer’s efficiency and speed. Beyond that, does the lawyer offer expert guidance, conflict mitigation, and proper asset management during probate? 

A probate attorney in Chicago, IL, should be an efficient expert in asset preservation. This can be crucial to helping avoid hefty taxes and excessive debt claims. Additionally, if the lawyer receives positive feedback on conflict mitigation, it suggests they have experience in resolving or mitigating family conflicts that tend to stall the probate process. 

  1. How Long Does Probate Last? 

One way to test a probate lawyer’s knowledge is by asking them, “How long does probate last?” While the numbers vary, probate can last for a few months to over a year in many states, including Chicago. When highlighting factors that affect the duration of probate, your counsel might mention things like estate size, family disputes, debt and taxes, absence of a will, and state laws.

A knowledgeable lawyer can explain clearly why your probate case could last a few months or even years. A lawyer that makes too brazen or hard-set of promises might not be the most honest. 

  1. How Do You Want Us To Communicate? 

There’s no hard rule on how you and your probate attorney communicate. You can talk via text messages, email, video calls, or phone calls. More importantly, check that the attorney communicates in simple language to help you understand your case. 

In fact, one essential of a lawyer’s dos and don’ts to gaining clients’ trust is to avoid making clients feel clueless. If a potential lawyer uses complex legal terms or avoids communicating directly, search for probate services elsewhere.

Conclusion: Finding a Probate Attorney in Chicago

Reviewing the will of a loved one after their death and ensuring fair distribution of their assets often involves complex legal issues. For this reason, consider hiring an attorney who specializes in probate law. 

To maximize your chances of finding the right probate lawyer, familiarize yourself with their responsibilities. Next, search online for lawyers within your state or ask for recommendations from people you trust. Then, interview prospects to help ensure they possess experience, a remarkable reputation, communication skills, and knowledge of probate law.

Settling the affairs of a loved one who has passed on can be an overwhelming time. A probate attorney can help lift some of the pressure off your shoulders as you focus on grieving and healing. 

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