Entrepreneurs have plenty on their plate and the last thing we want to do is to learn the law. That being said, there are lots of things that entrepreneurs can do on their own without incurring the expense of a lawyer. However, with other more complicated matters, it is important to turn to professionals that have seen the issues you are facing many times. While you certainly don't need an attorney for every step of running your business, there are certain issues that are better managed by a lawyer. Keep in mind that for some of these, you may find that you start working on it and it seems too complicated.

Michael Dermer is honored to be the Keynote speaker at CEED's 2017 Global Conference. Hundreds of entrepreneurs through the CEED network will come together in Slovenia for the annual gathering of CEED entrepreneurs and alumni.

Cash and equity compensation are certainly the foundation of a compensation plan to attract great employees. That being said, coming up with creative perks can be a significant factor in attracting talent. Here are some ideas for perks that can supplement your more traditional compensation structure for employees. You don't need to do all of these, and some may cost too much, but others may make sense for your company.

I know what you are thinking. The last thing I am thinking about is our company culture. If it doesn’t bring in revenue or cut our burn, should we be focusing on it? Our culture right now has to be to work our asses off. In an early stage venture, you lack defined parameters for company behavior—including your own behavior. It is like driving on a road without a speed limit, stop lights or lane lines. Left to its own devices, or lacking the appropriate attention, you are actually enabling a corporate culture with negative undertones and a tolerance for unacceptable behavior. If you fail to set down your core values, you not only bear that risk but you are not taking advantage of something that can create a competitive advantage.

In the constant chaos of becoming an entrepreneur, founders and leaders are always thinking of how to drive their employees to perform at a higher level. Sometimes while in the process of starting your business you may forget that this environment is unique. Employees are generally working hard, have multiple job roles, are sleep deprived and feeling pressure on a daily basis. You may find yourself wondering how to set the tone for employees that are most likely already stretched to their limit. Well, believe it or not, it starts with you, the leader. As a leader, it us up to you to train employees and set the tone of the workplace culture.

The financial performance of a business is reflected in a series of what they call "financial statements." While every entrepreneur does not need to be a financial expert, we all need to have at least a basic understanding of these statements and how they show us the financial performance of your business. A complete set of financial statements is used to give an overview of the financial results and condition of a business. These statements are the common language used by everyone to gain an understanding of the financial status of a business.

Even when you grow, you want to have the financial discipline to keep a tight reign on costs. This is even more important in early stages when cash is king. There are plenty of needs for your cash and hopefully some of these will help preserve some of it.

It's common to assume that everyone who is part of your team is on the same page and is equally aligned to the business. You very quickly come to realize that everyone wants what's in their best interest - employees want, customers want, investors want, board members want, friends and family want. With so many competing priorities, you assume that when you're making decisions left and right, it's in the company's best interest. However, unless you have made that very clear with all constituents of the company, you will be constantly battling the wants and needs of everyone else except the interests of the business.

One of the greatest fears of the untrained salesperson is hearing objections or concerns after they’ve given their all in the presentation step of the sales process. That’s because they do not yet understand the tremendous help objections can be to closing sales.

In addition to the functions you must perform, you also must be three things: unemotional, deliberate and thoughtful—all while in the midst of the chaos that comes with entrepreneurial ventures. The ability to keep your head when things around you are going wrong or not making sense is a true skill, but one you must master.

Maximizing your scarce resources is a key function of the entrepreneur. Using independent contractors is one way to manage your people costs without the commitment and cost of a full time employee. Independent contractors give you the flexibility to respond quickly and not to make the more significant commitment required for a full-time employee. But with these benefits come some risks. Here are some of the advantages and disadvantages of employees versus independent contractors.

There are certain behaviors that are indicative of well-run organizations and teams. Certain of these core behaviors - trust, candor, accountability and teamwork - are fundamental to success, especially in the dynamic environment of an entrepreneurial venture. Companies talk about instilling these behaviors but don't know how.

No one needs more irrelevant marketing messages in their life. To stand out amidst the noise in an era where marketers are creating custom content, it’s critical to invest in relevant information. In fact, a recent eMarketer study cited targeting content as a top priority for 47% of savvy companies. Developing a deep knowledge of your ideal customer, a concept known in the marketing realm as buyer persona profiling, is critical to increasing the relevance of your efforts.

Keeping track of the activities of a company seems impossible. You feel disorganized every day but you aren’t really sure how to change that. Many entrepreneurs are unaware of the available tools to manage this issue. I was sitting next to an entrepreneur who was keeping track of her many to-dos in a notebook. I asked her how long that took each day and she said about an hour. She was completely unaware of the numerous new tools, applications, and software designs that automate your to-do list and track agendas in an economy of time. These tools are mostly free and are designed for both larger companies and the one-woman show.

It doesn't necessarily take a lot of money to make a lot of money, but it does take some. To beat the odds and avoid running out of money, successful entrepreneurs prepare by developing rigorous financial plans that forecast essential information such as how much money it'll take to get off the ground and what to expect in the first few years so they can best allocate resources. Smart financial planning is crucial, but actually developing a reliable plan can feel impossible.

I started working with a first-time entrepreneur who felt she was drowning. I told her she need some structure and process to run the business. I told her she could benefit from regular meetings, set schedules and standard operating procedures that didn't require scrambling every time the company had an issue or met with investors, customers, vendors and other resources. Basic stuff. The stuff that mature businesses use as the foundation for running their business. Her reaction? She looked at me like I was crazy. She believed that her latest issue was simply a "personnel issue" that had to be handled and not indicative of a lack of process. The next day it was the product. The next it was investors. The next it was the marketing plan.

The evolution of a business with an untested concept is complex. It is difficult for constituents to digest information in a way that keeps people aligned to the vision and motivated to plow through the challenges. In the face of a lot of work, competition and the promise to deliver something "new" to the market, it is essential to keep everyone aligned to the end game.

Your problems are not unique. The first time someone told me this I thought they were insane, but it’s true! Every startup shares the same problems. First and foremost, we all suffer from the issues endemic to new and developing businesses- lack of capital, lack of qualified team members and lack of time to execute across all parts of the company. You are faced with creating the building blocks of a business, building a business model, gaining market acceptance, creating operational capacity and to build the functional areas of a company- sales, marketing, finance, operations, technology, human resources, and the list goes on. This is true whether you are opening a pizza store, launching a clothing line, building an online store or selling jewelry. The same problems exist in virtually every newly launched venture.

As entrepreneurs, sometimes the battle becomes a badge of honor. While having the “nothing can stop me” attitude is helpful, it also often causes us to turn a blind eye to what the experience is doing to our body and our mind. Entrepreneurs will say, “Who has time to relax? The only people who can afford to go to yoga at 6pm are peoples who have never been entrepreneurs.”

If you’re thinking ahead to the day when you’ll no longer run your business, think about these five exit strategies now so you’ll be prepared for your future. Entrepreneurs live for the struggle of launching their business. But one thing they often forget is that decisions made on day one can have huge implications down the road. You see, it’s not enough to build a business worth a fortune; you have to make sure you have an exit strategy, a way to get the money back out. Here are five primary exit strategies for those of you who like to plan ahead and for those of you who don’t, but should.

Failure to understand your cash position, as well as your current and future cash needs, will result in disaster. The sad truth is that cash-flow surprises kill many startups. According to Dunn & Bradstreet, 90 percent of small-business failures are caused by poor cash flow. To prevent becoming part of that 90percent, you’ll need to maintain a focus on cash. When it comes to the financial management of a growing company, always remember that cash is KING.

Most entrepreneurs mistakenly believe that every consumer or business is a potential customer. As a result, when looking for new customers (prospecting) entrepreneurs tends to spread their energy around without focusing on unique customers or how to find them. The sales process depends on creating a “pipeline” of opportunities, meaning that for every ten potential customers you add to the pipeline, you can assume that only one or two of them will become paying customers. Prospecting, or building the pipeline is essential to sales and must be a top priority.

Crowdfunding websites, or platforms, allows individuals and business owners to raise funds for any kind of project by accessing a large number of potential backers. Many people are compelled to use well-known crowdfunding platforms, such as Kickstarter and GoFundMe. While these sites may have a loyal base of backers, the competition for views is fierce. Those seeking support should consider the differences between platforms so they can choose the site that will connect them with interested backers that will provide a strong level of support.

Entrepreneurs live in a constant state of hole plugging. It seems that everything needs to be done at once, but you lack the financial and human resources to get it done. Unfortunately, that’s the nature of the beast. Prioritizing is the key to remaining productive. This chaotic state can get overwhelming unless you manage the overlapping tasks that are demanding to get done.

It’s in our blood to strive for perfection. We want to create the perfect product, the perfect service, the perfect business. But more often that not, we don’t have the resources or capital to deliver the perfect product or service. What if I told you that even if you did, no one would notice? Well, it’s true. The specifics or features aren’t the things that stand out- it’s the positioning of the product or service in the mind of the customer.