by eclewis | Jan 5, 2026 | Business News
A Look Back at Small Business Week: Great Advice from Entrepreneurs
Updated January 5, 2026.
Overview:
The start of a new year often brings fresh goals and ambitions — including the dream of starting your own business. While entrepreneurship offers freedom and fulfillment, it also demands preparation, resilience, and self-awareness. From gauging your passion and tolerance for risk to balancing work and life, new business owners face critical decisions early on. Before you take the leap, make sure you’re ready for the realities of ownership — and seek trusted legal guidance to start strong.
Often, the start of a new year can raise a lot of different feelings in us. What do I want to change? What are my goals? Will 2026 be the year I actually use my gym membership?
You may have turned the corner into the new year determined to cease working for “the man” and ready to strike out on your own. If so, congratulations! While deciding to start your own business is an exciting idea, it’s also important to remember that it’s a significant undertaking, no matter the scale.
Several steps are involved in starting, getting up to speed, and then maintaining your new company. The most useful thing you can do at the outset is make sure you’re as ready as possible.
If the new year has indeed gotten you up close and personal with a switch over to the entrepreneur track, consider these things first.
Jumping in with both feet to a new business takes commitment. Do a gut check: are you passionate about your idea? Do you believe in it so deeply that it will carry you through the long hours and lean times in the start-up phase? Your business concept doesn’t matter as much as your belief in it. That becomes your lifeblood once the initial excitement has passed.
Ask yourself how well you tolerate risk. Some people thrive on it, but for others it’s more difficult. Your business isn’t guaranteed to succeed, no matter how much you think it will. Factors out of your control such as location, political volatility, or cultural change can make or break a company overnight. Will you be able to deal with the ups and downs that usually come with a business start-up — or even its potential failure?
Starting a business means that you will be chief cook and bottle washer for a while — everything becomes your responsibility initially. You have to get your idea out there in front of people and wear several different hats in the beginning stages: sales, HR, administrative, marketing, financial. Is taking on major responsibility a good fit for you? And are you nimble enough to handle it?
Included under the umbrella of responsibility is the ability to make decisions, many of which can be challenging in a small business atmosphere. Do you wear decision-making well? Is this an area in which your strengths consistently show up?
Lastly, the elusive work-life balance. Any entrepreneur who has started her own business can tell you that you go full speed at the outset, and sometimes it doesn’t slow down as quickly as you would like. You may lose time with family, friends, or hobbies that feed you in other ways. Is this the right time in your life to devote all your energies to this undertaking, and do you have the support of others to do so?
Starting your own business is an exciting ride, and one that should be undertaken with realistic consideration. If now is your time, dive in! And let me know how I can support you.
If you need legal help, don’t hesitate to contact me at the Law Office of E.C. Lewis, P.C., home of your Denver Small Business Attorney. Phone: 720-258-6647. Email: elizabeth.lewis@eclewis.com.
Contact Us Today
Law Office of E.C. Lewis, P.C.
Your Denver Business Attorney
LICENSED IN COLORADO AND NORTH CAROLINA
Mailing Address:
501 S. Cherry Street, Suite 1100
Denver, CO 80246
720-258-6647
Elizabeth.Lewis@eclewis.com
by eclewis | Jan 5, 2026 | Business News
Developing Business Ideas
In a previous post, we talked about the importance of diversifying your business and the benefits that it can have toward your success. This time, we’ll talk more about developing an initial idea for a business.
Developing a Strong Business Idea: Differentiation, Innovation, and Smart Risk (2026 Update)
In a previous post, we discussed the value of diversifying your business and how doing so can strengthen long-term success. In this article, we’ll take a closer look at where great business ideas come from — and how to evaluate whether your idea has the potential to work.
Most successful businesses begin with one of two core approaches:
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Doing something that other businesses already do — but doing it better, differently, or more effectively, or
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Doing something new or substantially different from what currently exists in the market
Both paths can lead to success — and both come with their own risks and opportunities.
Competing in an Existing Market — with a Meaningful Differentiator
If your business model is similar to others already operating in your industry, your success often depends on having a clear differentiator. That difference may come from:
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Superior customer service or client experience
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Greater expertise or specialization
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More convenient hours or location
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Technology-enabled efficiency
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A stronger brand or reputation
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Pricing strategy or value-based offerings
The benefit of entering an existing market is that you already know customers exist and that the model can work. You’re not reinventing the wheel — but you do need a compelling reason for customers to choose your business over others.
Introducing Something New — Innovation and Its Risks
Launching a business that does something new or significantly different can create exciting opportunities — but it can also carry greater uncertainty.
A lack of competitors may mean:
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Others have tried and failed
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The idea requires regulatory or licensing approvals
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The market isn’t large or ready enough to support the concept yet
On the other hand, being unique can make it easier to gain attention and early customers — at least until competitors eventually follow, which they often do if your idea proves successful.
Both innovation and imitation require strategy, planning, and resilience.
Blending the Two Approaches
In many cases, entrepreneurs find success by combining existing concepts in a new way — creating a hybrid business model that delivers value from more than one direction.
Examples include:
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Service-based businesses that integrate technology or automation
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Retail concepts paired with experience-based offerings
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Professional practices that also offer education, training, or digital resources
This approach can allow you to:
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Attract customers from multiple audiences
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Differentiate without starting from a completely untested idea
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Spread risk across more than one revenue source
It is also closely aligned with modern diversification strategies many businesses use to stay adaptable in changing markets.
Opportunity and Uncertainty in Today’s Business Environment
The pace of technological change, shifts in consumer behavior, and evolving economic conditions mean that ideas that didn’t exist five or ten years ago may now be viable — and sometimes even in high demand.
However, that same pace of change also means:
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Markets can evolve quickly
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Competitive conditions can shift faster than expected
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Long-term projections are often more uncertain than they once were
A strong business idea in 2026 requires not only creativity, but also research, validation, and thoughtful planning.
Before You Launch — Get Professional Guidance
Whatever idea you are considering, it is important to talk with experienced advisers before moving forward. Legal, financial, tax, licensing, and regulatory considerations can significantly affect risk, structure, and long-term viability.
A knowledgeable small-business attorney can help you understand:
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Formation and ownership structure options
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Liability and compliance risks
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Contracts, financing, and partnership considerations
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Intellectual property and branding protections
Good planning early in the process can save significant time, stress, and expense later.
If you’re thinking about starting a business or exploring a new business idea, I would be happy to help you evaluate your options and understand the legal considerations involved. Contact me, Elizabeth Lewis, at the Law Office of E.C. Lewis, P.C., your Denver Business Attorney.
Phone: 720-258-6647
Email: elizabeth.lewis@eclewis.com
by eclewis | Dec 6, 2018 | Business Formation
Business Formation: Proven Strategies for a Strong Start
You’re a Colorado entrepreneur who is excited about the future and ready to create the business you’ve been dreaming of. However, you may find the idea of business formation confusing or even intimidating. Thankfully, it is not as difficult as it might seem to get a business up and running. The key is to take advantage of proven start-up strategies and to get good advice on business decisions that lie outside of your area of expertise. .
Tips for Launching Your Denver Small Business
Below are some key considerations as you work to establish a solid foundation for your new venture.
Create a business plan
Every successful business starts with putting a detailed plan into writing. Having your strategy fully mapped out in your head is great, but putting it on paper ensures that all stakeholders are literally on the same page. Your business plan should cover a wide range of topics including details about your product and/or service, target market, management structure, marketing strategies, etc. Not only will you and your team benefit from the time and effort you put into crafting your plan, other parties like lenders and investors will expect business formation documentation from you.
Form the business entity
Will your business be a limited liability company (LLC)? A sole proprietorship? A partnership? The decision you make at this stage of business formation will have long-term implications on a wide range of subjects from taxation to legal liability. Be sure you understand which business structure is right for your needs. Deciding on the legal structure of your business is perhaps the most important point at which to get business development legal help.
Choose your business name wisely
The are many things to consider as you pick a name for your company. You want it to be descriptive and memorable today, but you also need to think about whether it will still be applicable as time passes and as your business grows and potentially diversifies. You also need to do thorough trademark research to ensure you aren’t infringing on anyone’s rights.
Obtain insurance
From general business liability insurance to what is known as “errors and omissions” insurance, there are many types of coverage you should consider. You want to have the appropriate policies in place before your company is operational so that you are protected from Day 1.
Get required permits and licenses
Many types of businesses must be authorized by regulatory agencies to begin operations. Be sure you have done thorough research and have the certifications required in your area. A Colorado small business lawyer is your best resource for determining what permits and licenses your business will need to operate legally.
Establish financial relationships
For most small businesses, the saying that “it takes money to make money” is very true. Not only should you find a primary lender, it’s never a bad idea to connect with people at other institutions in case you ever choose to move your business or have a need that your primary lender can’t address.
Consider intellectual property protection
Wikipedia defines intellectual property as “a category of property that includes intangible creations of the human intellect, and primarily encompasses copyrights, patents, and trademarks.” Intellectual property law is very complex, so it is a good idea to talk with a Denver business attorney who specializes in this field to find out what steps you should take to protect your ideas. And, keep in mind that while you may not think of your type of business as one that would produce intellectual property, you may be surprised to learn that it does.
Find trusted advisors
From attorneys to accountants to business mentors, developing relationships with people who will share their insights can have a very positive impact on the success of your Denver small business. Plus, once you have established a core group of advisors, they can refer you to experts in other areas as needed. What’s more, they may even be able to steer some business your way!
And the Most Important Business Formation Advice of All Is…
While preparation is critical to success, determination plays an equally important role. The idea of “hoping for the best but planning for the worst” is very sound advice. Few Denver small businesses achieve the success they are striving for without hitting some bumps along the way. Patience, persistence, and a commitment to making it through the tough times will be some of your most valuable assets.
If you need a trusted resource for vital information on business formation, contact me, Elizabeth Lewis, at the Law Office of E.C. Lewis, P.C., home of your Denver Small Business Attorney. Phone: 720-258-6647. Email: elizabeth.lewis@eclewis.com
Contact Us Today
Law Office of E.C. Lewis, P.C.
Your Denver Business Attorney
LICENSED IN COLORADO AND NORTH CAROLINA
Mailing Address:
501 S. Cherry Street, Suite 1100
Denver, CO 80246
720-258-6647
Elizabeth.Lewis@eclewis.com
by eclewis | Feb 7, 2018 | Employment Law
Common Employment Law Mistakes and How to Avoid Them
Your small business may only employ a few people, but you are still subject to most of the same laws and regulations as corporations that employ thousands. Compliance with employment law will save your business from stressful audits or legal fines. A small business attorney will help you with every aspect of employment law from contract review to hiring to working with employees. Here are five of the most common areas where employers make mistakes when it comes to employment law compliance.
- Regulatory Agencies and Laws
- Americans with Disabilities Act (ADA)
- Employee Classification
- Occupational Safety and Health Administration (OSHA)
- I-9 Forms
1. Failing to Stay Current with Regulatory Agencies and Laws
Practically everything associated with employment law falls under here, and the number of regulatory agencies with their corresponding laws continues to grow rapidly. Some of the areas governed by regulatory agencies include: workplace safety and health laws (see #4 on OSHA), payroll and overtime payment laws (see #3 on employee classification), recordkeeping requirements (see #5 on I-9 forms), anti-discrimination (see #2 on ADA compliance) and anti-harassment laws, local, state and federal leave laws, and employee privacy laws. Creating a checklist before you begin hiring new employees and working with an attorney will ensure you start off and stay compliant with state and federal employment laws.
2. Not Following the Americans with Disabilities Act (ADA) Guidelines
The ADA prohibits discrimination and ensures equal opportunity for persons with disabilities in employment, state and local government services, public accommodations, commercial facilities, and transportation. This applies to all employment-related activities, including recruitment, training, tenure, layoff, leave, and fringe benefits among others. The law protects individuals who have a disability, which means they have a physical or mental impairment that substantially limits one or more major life activities, they have a record of such impairment, or they are regarded as having such impairment. The U.S. Equal Employment Opportunity Commission’s website has ADA and other discrimination-related information for small businesses.
3. Mis-Classifying Employees
By classifying your employees accurately, you ensure they get the appropriate wages, benefits, and protections to which they are entitled. An exempt employee, according to the U.S. Small Business Association, is someone who is paid a specified amount of money regardless of the number of hours worked a week. These employees may be exempt from overtime payments and meal or rest breaks. Assuming it is easier to pay everyone a salary, however, can lead to problems. Be sure to classify your employees properly in order to avoid noncompliance issues with the Colorado Department of Labor and Employment and the U.S. Department of Labor. Your business attorney will help you with hiring employees, choosing the right employment contracts and agreements, keeping good records, and providing advice and representation in the event of an audit or lawsuit.
4. Ignoring Occupational Safety and Health Administration (OSHA) Regulations
OSHA’s detailed safety regulations include a General Duty Clause, for small and large businesses alike, which requires every employer to provide every employee with a work environment that is free from recognized hazards. It is your responsibility to communicate these rules to your employees via written safety and health rules in the form of visible signs and/or posters. In the unfortunate event of an accident at your business, you will need to take corrective action immediately. With a host of other federal acts, intended to protect employees, such as the Fair Labor Standards Act, the ADA, the Age Discrimination in Employment Act, and the Family Medical Leave Act, it is paramount that you understand and remain compliant with all aspects of employment law.
5. Keeping Invalid or Incomplete I-9 Forms on File
The I-9 form, also known as Employment Eligibility Verification, is completed by employees and employers in verifying the identity and employment authorization of every employee hired. Simple as it sounds, omitting or not completing I-9 forms can result in fines and legal trouble. Before filing it away, be sure the whole form is filled out, including dates and signatures – within three days of the employee’s hire date. Too often, employers miss the deadline or employees fail to provide the correct supporting documentation. You can provide a list of acceptable documents and allow the employees to make their own selection.
These are just a few of the many employment law mistakes and potential pitfalls for small business owners.
If you need help with employment law, contact me, Elizabeth Lewis, at the Law Office of E.C. Lewis, P.C., home of your Denver Business Lawyer. Phone: 720-258-6647. Email: elizabeth.lewis@eclewis.com
Contact Us Today
Law Office of E.C. Lewis, P.C.
Your Denver Business Attorney
LICENSED IN COLORADO AND NORTH CAROLINA
Mailing Address:
501 S. Cherry Street, Suite 1100
Denver, CO 80246
720-258-6647
Elizabeth.Lewis@eclewis.com
by eclewis | Nov 21, 2017 | Retail Stores
How to Start and Stay in the Retail Market
Starting your own retail store takes a lot of initial planning. There is so much more to it than simply choosing a place, setting up your goods, and opening your doors. After the early planning stages, it is hard work to stay at the top of the retail market. Denver has one of the most vibrant retail scenes in the nation with its lively downtown shopping district, strong regional anchors, and eclectic neighborhood businesses. So, where do you fit in and how do you stay in? A small business attorney will help you with every phase – from planning and daily operations to maintaining and expanding to helping you sell when the time is right – throughout the life of your retail business.
Start on Solid Ground
As a small business owner, you will hear again and again how crucial it is to choose the right legal structure for your retail store. Your business entity affects everything from the taxes you are required to pay to the permits and zoning laws that govern your business. Determining the right products and services as well as location are also business planning essentials. You may have a passion for your product, but you have to figure out how and where to sell it in order for it to be profitable and make sure you have the right market for the product you love. For instance, you may love meat and be the best butcher around, but a meat market in a highly vegetarian area is a recipe for disaster. Before you commit to a lease, consider if the ideal location for your product is ideal for your budget. Sometimes, second best is better. A great space that costs too much and causes you to close is a lot worse than a pretty good space that allows you to thrive. A business attorney can guide you through state and city laws as well as review and create contracts and agreements.
Establish Good Vendor/Wholesale Relationships
Once you have settled on the right product(s), it is time to find the right vendors. In order for your retail store to offer products at a price and time that suits your customers, you have to partner with vendors who understand your needs and vision. Communicate your goals and expectations at the start of the relationship. If your vendor knows that timing, cost, and consistency are important to your business, then they are likely to focus on those areas. Other areas to keep in mind when selecting a vendor include returns, defective items, credit, and payment terms among others.
Recruit the Best Employees
Hiring the best sales staff is just as essential to the success of your retail store as having the right product. With the influx of millennials who have migrated to Colorado in recent years, it may be more important to hire someone who fits the culture rather than someone with the highest qualifications. Cultural fit covers a variety of characteristics, including alignment of values, work-life balance, company mission, and customer relations. You may think a college degree is necessary, but someone who lives and breaths your products may put someone who doesn’t love your products but has a degree to shame. Once you have found the ideal staff, be sure to train them beyond their daily roles. You can avoid many costly mistakes and lost customers by ensuring your employees are well versed in your store’s policies and procedures. The better equipped they are to handle the unexpected or uncommon situation (and feel empowered to do so), the better customer service they will deliver. You may let them know that for repeat customers, they can offer an occasional small discount. Not only does this make your employee feel that you trust them, it allows your customers to feel your business appreciates them. Whether you need help hiring employees, drawing up their contracts, or [if things take a negative turn] letting them go, your small business attorney will be there.
Fine-Tune Your Marketing
Your marketing plan should be in place before you open your retail store. This should incorporate promotional, branding, and advertising ideas. Determining not only how your customers shop, but also where they dwell (e.g. social media), will point to where your marketing budget should be spent. Since retail has become an omnichannel business model, you would be remiss not to consider each way your potential customers like to do business – brick and mortar shops, mobile applications, catalogues, FAQ webpages, social media, live web chats, telephone communication, and more. Expanding your channels with a consistent brand and message will expand your reach.
If you need help starting a retail store, contact me, Elizabeth Lewis, at the Law Office of E.C. Lewis, P.C., home of your Colorado Business Attorney. Phone: 720-258-6647. Email: elizabeth.lewis@eclewis.com
Contact Us Today
Law Office of E.C. Lewis, P.C.
Your Denver Business Attorney
LICENSED IN COLORADO AND NORTH CAROLINA
Mailing Address:
501 S. Cherry Street, Suite 1100
Denver, CO 80246
720-258-6647
Elizabeth.Lewis@eclewis.com
