Business Transactions

Q.:  I recently started a janitorial cleaning business. Our first job was subcontracted from another cleaning business. We completed three months of work and have yet to receive any payments. Two months ago I met with the cleaning contractor owner to come to an agreement. We signed a promissory note detailing a down payment and […]

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Q.:  I own a pet-sitting business. Can I charge interest to my clients if they don’t pay within, say, a month? A.:  You cannot charge interest – and expect them to pay it — if you have not previously notified your clients that you will do so if payment is late.  That’s changing the terms […]

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Q.:  A work order constitutes an agreement to perform a service. Indebtedness does not occur until the service is performed. So does a signed work order acknowledge an indebtedness? A.:  A signed work order does not necessarily acknowledge a debt.  The work order simply reflects both sides’ agreement about the work that will be performed.  […]

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Make sure you dot all your i’s and cross all your t’s before signing on the dotted line. Make no bones about it; buying a business is a big deal. Depending on whether you buy all or part of a business, your investment will likely result in the largest single asset you ever own. Don’t […]

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Q.:  I own a small hair salon. A customer recently received services, then said she forgot her wallet and would return later in the day with her payment. She never came back. She has done business with us before but is not a regular customer. What are my steps on how to collect money from […]

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I’m often asked by cash-strapped entrepreneurs whether they could “pay” me through barter – exchanging my legal services for whatever it was they were offering. And there’s always a rags-to-riches tale that can be told where the young business owner got her start (and her company got a real boost) because she was able to […]

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Post image for Franchises–Where Fools Rush In…

Franchises can be an attractive way to start a business. There’s already a system in place; you know (if you’ve done your due diligence) it’s a proven, profitable model; and the franchisor provides you with ready resources. But “fools rush in where angels fear to tread,” said English poet Alexander Pope. And franchises can be […]

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Post image for Turning Contract Mistakes into Manna

This past weekend, my husband and I were putting up the last of the wall hutches for a new home office in our apartment and needed to drill holes in the wall in order to mount them. We sought advice from an expert at the hardware store and followed the advice to the letter. What […]

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Post image for How to Price What You Sell

“What should I charge?” It’s a perennial quandary that crops up for virtually every entrepreneur. It’s also an area where women entrepreneurs tend to undervalue what they offer, so they run into two problems: They don’t adequately convey their value proposition to clients, so they have trouble attracting them in the first place. As they […]

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Post image for How Do You Handle Customer Service?

They say that the key to happy clients is to underpromise and overdeliver.  But I just returned from an absolutely AMAZING 5-day workshop in L.A. given by Peak Potentials, called Train the Trainer 1 (How to Earn $20,000 a Weekend Teaching What You Love), which turns that adage on its head.  Peak’s approach is to “promise big […]

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