March 15, 2019
Why bother? Yes, some companies can cover many of their potential business risks with insurance. But in my opinion, if you intend to go into business, you should intend to form a separate entity. Create a plan and a budget that encompasses those costs. The risks to your personal assets and to your business growth far outweigh any advantages of sole proprietorship. Read on to find out why! Risk #1: You’re facing the world naked. Doing business as a sole proprietor is like going into battle without armor. Even if you have insurance, it won’t protect you against certain kinds of “weapons” – such as lawsuits that exceed the policy amounts, or aren’t covered altogether. As a sole proprietor, you place all of your personal assets at risk. One freak lawsuit, and you could lose it all: your home, bank accounts, savings, car, jewelry. Think of the computer consultant whose network configuration inadvertently crashed the server; the graphic designer whose logo creation may have infringed on someone else’s; independent sales rep accused of misusing a…
Continue ReadingTransitioning a business is never easy under the best of circumstances; having a family succession plan is even thornier. After all, you are entrusting your life’s work to people who, years ago, may have (1)…
Read MoreFrom the Benefits-Outweigh-Burdens Department: Rob Smorfitt, a serial entrepreneur, small business blogger, and Ph.D. candidate in South Africa, has looked into (and lived through) many business partnerships. His research indicates that partnerships are a key…
Read MoreIn this challenging economy, I’m seeing a lot of entrepreneurs begin to re-evaluate their business . . . and, in particular, their business teams. When business is going well, it’s easy to overlook the flaws…
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I know first-hand that running a knowledge-based service business has unique challenges. It’s so much easier when you have an advocate in your corner. Over the past 25 years, I’ve worked with thousands of New York business professionals who want a legal advisor to guide and support them as they navigate the business world.
With wide-ranging experience as a business attorney, strategist, and media authority, I bring the added power of a business lens to the legal issues my clients are facing.
And because I’ve been a business owner myself, I’ve lived through the soaring highs and devastating lows – like when my first law firm failed. So I understand what’s involved to serve great clients, detect business risks early and build a true legacy.
I can’t get those 12 years back. That’s why I have made it my mission to ensure that business professionals like you can become wise and discerning leaders, build a solid business, and live your best life.
