One huge part of many families' lives is their small business. It's how they get things done, how they bring income home. When a divorce occurs, it's important to seek an attorney with small business expertise.
I have a particular approach regarding small business consulting. I focus on what the three most important topics to me, in running my law firm, are, and I share them with clients. These three are: (1) risk, (2) investing in one's self, and (3) technical awareness.
Risk. Risk includes uncertainty. This can fuel innovation and growth, and it can provide an opportunity to learn and evolve. Each person has their own tolerance for risk- whether investing in stocks or money market accounts or hiding cash under the bed. Each business owner has their own tolerance for risk, and they show their risk tolerance with every decision they make. The decisions run from accounts receivables aggressiveness to product development, marketing strategies to hiring decisions.
Calculated decision-making will help alleviate fears associated with risk and keep a business healthy overall. This includes assessing potential pitfalls. Further, when business owners understand the market they are letting in less risk. Finally, a business owner who has agility regarding unforeseen challenges is ahead of the curve.
Investing in one's self. Each small business owner has vision, passion, and expertise. They pour their heart and mind into their business venture. This, alongside personal development, allows for the small business to be an investment like no other.
Of course there is a financial commitment, especially as revealed in startup costs. However, there are soft investments the small business owner makes along the way. For example, the need for continuous learning arises, and often it is best for the owner to attend workshops and participate in mentorship programs. Further, the owner can develop skills and enter into a growth mindset. Finally, seeking overall knowledge and cultivating leadership skills creates a magnetizing persona that shows off these soft investments.
Technicalities. Every business is different because every business responds to different demands in the market. It is important that the owner gets support for the industry specific tools and strategies that will help them succeed in the long run.
Working with a lawyer allows the owner to have access to rules, regulations, and potential fact patterns they may not have sought out on their own.
Overall, owning a small business is a thrilling adventure, and focusing on risk, investing in one's self, and technical precision allows for the best results.