Disputes

From the Department of Business Partnership Nightmares comes this plea for help from LordMJ: Here’s the skinny: Partner 1 and Partner 2 met in corporate America and started a venture together when both had full-time jobs Partner 1 left the corporate job and entered grad school, ostensibly to help the business (and supposedly by mutual […]

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Post image for The Intelligent Way to Handle Frivolous Lawsuits

It’s an unfortunate aspect of American life that you can’t stop someone from bringing a frivolous lawsuit. Even some politicians have recognized the ways in which frivolous lawsuits can hamper America’s small businesses, and proposed legislation just last year — most notably, the “Frivolous Lawsuit Prevention Act of 2009” (S. 603), which apparently died in […]

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Post image for Five Rules for Collecting Late Payments

Let’s face it: Once you’re headed to the courthouse to collect a bad debt, you’ve lost. Lost, because you rarely, if ever, get 100 cents on the dollar. Lost, because you lost time and energy dealing with the situation. Lost, because you had a client who likely will never return. As Monica Mehta writes in […]

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When the relationship’s not working, it’s time to cut the ties. It’s 11 o’clock on a Friday night, and you’re furious. Once again, a major client has called at the last minute and needs you to finesse a campaign. A campaign that absolutely, positively has to launch on Monday. Come Monday, the campaign is done and […]

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Post image for The Customer Is Never Wrong — But Is It the Wrong Customer?

“Can I talk to you personally?” asked Linda. She seemed a little hesitant, so after we ran into each other at a networking event recently, we sat down over coffee. Linda had given some marketing work to a mutual colleague, Ingrid, whom I’ve known for many years. “I have to tell you that, categorically, I […]

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Post image for What Lawsuits Cost Small Businesses

What will $105 billion get you? For some, it equals the gross domestic product of a small island nation in the Caribbean. However, here in the United States, it’s the burden that small businesses shoulder in tort liability costs. As reported on Small Business Trends, a recent study by the U.S. Chamber Institute for Legal […]

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I recently had an “OMG. Are you kidding me?!?!” moment when I came across NYT reporter John Eligon’s article on a law firm breakup, “For the Lords of Divorce, A Breakup.” The principals of Sheresky, Aronson, Mayefsky & Sloan were no babes in the woods, wet behind the ears, green, unsophisticated, inexperienced, naive [insert synonym of […]

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It seems counterintuitive, doesn’t it, to prepare for the end when you are just beginning your business. But, as former President Dwight Eisenhower was known to say, “if you fail to plan, you plan to fail.” You need to have an ultimate goal when starting your business–whatever that goal may be. It could be: To provide […]

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Have you ever known a family that doesn’t have a fight . . . about something?  It could be about “who’s hosting Thanksgiving,” “who slighted whom,” or “how to run our business.”  In his article, Resolving Disputes in Family Businesses, David Gage points out that: A family business is really three distinct but intricately related systems: Family, […]

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When business partners go their separate ways, well, it’s a lot like divorce.  There’s the temptation to squibble over “Who gets the cat?” “Who gets the couch?” But unless you’ve clearly outlined in your partnership agreement which of your marbles you’ll get to take home with you when the game is over, you could be […]

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