Disputes

I heard a sad story this week — a Tale of Two Business Partners.  One made clothing designs; the other supplied the money.  One was optimistic about the new awards she had won and where the business was going; the other wasn’t.  One wanted to continue to move forward; the other wanted to wait and […]

{ 0 comments }

Lest you think that only novice business owners have problems with business partners, here’s a comforting note from Robert Kiyoskai in his Cash Flow blog.  Apparently, he made some choices that he thought were wise at the time, but ultimately, never panned out into a profitable business.  He gives some valuable hints as to the […]

{ 0 comments }

Post image for When In Doubt, Settle Your Lawsuit

Writer and humorist Ambrose Bierce (1842-c1914) once wrote of litigation: “[It is] a machine which you go into as a pig, and come out of as a sausage.” The sentiment still holds true today. The New York Times reported on a recently released study of civil trials, which indicated that plaintiffs who settled their cases […]

{ 2 comments }

Post image for On Dangerous Thongs and Other Products

Damaged corneas were probably not what Victoria’s Secret had in mind when it designed its cheeky (ha, ha) little “low-rise v-string” (part of the “Sexy Little Thing” line). According to a lawsuit brought by a California woman last month (see Today show interview), the thong flew apart and struck her in the eye. She declined […]

{ 0 comments }

Post image for Dispose of Delinquents and Deadbeats

Avoid taking on such clients, and establish penalties if they slip through your net. Delinquent clients are like an acid drip: They eat away at your profit margin and corrode your cash flow. And once a client moves from late-paying to delinquent, it’s usually too late to expect a quick and happy ending. Just as […]

{ 0 comments }

I found a thread of a plaintive (online) cry for help:  “My partner isn’t returning phone calls.  I want to get off the business papers as a responsible party.  I’ve not been active in the business for the last six months/year/two years.  What do I do?” Unfortunately, to really make sure all those loose ends […]

{ 0 comments }

For more on deadbeat business partners, here’s another thought:  if you have been running your business as a general partnership, you are both “jointly and severally liable” for the debts of the partnership.  This means that a creditor could come after you for the full amount of the debt, or your partner.  They don’t have […]

{ 0 comments }

From the Department of “Was that form of exit strategy written into our partnership agreement?” comes this story from the Chicago Tribune of an Illinois business partnership gone wrong.  Apparently, the home rehab business — started by two friends — was experiencing financial difficulties.  It seems that one partner wanted to take out more money to […]

{ 0 comments }

“Heather” was at her desk, reviewing accounts receivable reports. She grimaced as she saw the unpaid invoices from HiSpeed Technologies, Inc. She had done great work for them, and they continually praised her efforts – but what started out as a rough cash flow patch for them was turning into one excuse after another. Just […]

{ 0 comments }

Negotiation is both an art . . . and a science. Whether it’s getting the kids to do their homework, choosing a film to see with a friend, or setting a price for your services, negotiating permeates every aspect of our lives. Whatever the size of the deal, a negotiation involves two sides, each needing […]

{ 0 comments }

Page 1 of 812345...