Thankfully, most of us will never find out. That is a GOOD thing! However, if YOU are a small business owner it's something worth knowing before one day you get kicked in the back-side.
I've advocated for many years - ALWAYS invest in GOOD legal counsel; a qualified Accountant [CPA]; and Insurance Agent. The 3 most important advisors to your business success.
A little research in our town opened my eyes BIG and WIDE to how a small business owner can suddenly find himself/herself in deep water without a paddle or pot to go.
Just a few of my recent discoveries --
Did you know.... town Sheriff can reach inside your bank account and take ALL your money? Got a friend in town working for the Sherriff's Dept? Ask him/her, they'll tell you how it happens and you may want to ask about their bonus, too.
It doesn't make any difference WHO YOU OWE or if checks will start bouncing - it's part of our LEGAL justice system - allows the "hand-of-the-law" to take your stuff and leave you screwed.
Another disturbing happening - you can be sued or counter-sued by someone and never know it until you get a "writ of execution" from the Sheriff's department... when they come to sell ALL your property - equipment - and maybe leave you bankrupt as well as good vendors you own money to.
In our town you basically have to hire an Attorney to represent you in court.... simply a "no option" decision unless you know it's fruitless when you're guilty hands-down... probably your town too.
What you may not know - your legal counsel is NOT required to have malpractice insurance protection when he/she screws up the process on your behalf. Most have it.... the problem with small business owners is they look for the CHEAPEST not the BEST.
Courts DO NOT send notices by Registered mail either which means they have NO proof of delivery, but WHO cares? YOU will. Only your legal counsel supposedly gets the notices from the Courts and it's his/her responsibility to advise you or it's tough break for you when no one told you "courts in session" - and YOU'RE absent.
Have you ever heard of "treble" damages? It's amazing how this can kick you into oblivion without a trace. Just know that it does happen to the finest of small business owners.
Did you feel it? The smasher coming when you thought everything was peachy-le-creme - maybe your best year ever? If YOU don't have your 3 Key Advisors yet, hire them soon. It may just SAVE your CASH as well as your business future.
Don Monteith spent 32 years as co-owner of a personnel/staffing business. His firm placed thousands of job candidates in their dream job. Today, Don shares his business and career expertise through his newest websites on the Internet. Lots of FREE ideas - suggestions - ready for your perusal and study.
bathroom cleaning service Northbrook ..Thankfully, most of us will never find out. That is... Read More
Fuel prices these days are quite high and they take... Read More
One of the best marketing strategies a business or organization... Read More
Free money! Receive up to $25,000 that never has to... Read More
Marketing is one of the four corner-posts of a solid... Read More
During the 1980 presidential campaign, candidate Ronald Reagan vowed, if... Read More
Franchising Corporations need to maintain an iron fist when it... Read More
One of the hidden perks of raising six children is... Read More
Discover How Specialized Cost Containment Creates A New Win-Win Position... Read More
When deciding to host a fundraiser for your company or... Read More
So you want to start a business but you don't... Read More
I love work, I can watch it all day.I am... Read More
There is much competition in the mobile auto detailing business.... Read More
The life cycle of the typical small business is short... Read More
If you are the boss and you think your job... Read More
The current lack of industry leaders represents an exceptional opportunity... Read More
One thing I have noticed in my travels to different... Read More
There were only an estimated 1800 active franchisors in this... Read More
The single most important activity you can do in your... Read More
Aircraft Interiors of personal and corporate jets have hundreds of... Read More
Here are a few tips on how to hand out... Read More
Starting and managing a small business is no fun chore,... Read More
Sometimes the simple businesses are the ones, which make good... Read More
Anyone in business today realizes both the natural dependency on... Read More
If you're like the rest of us, you've spent a... Read More
insured cleaning company Wilmette ..Many people ask how many graphs or charts they should... Read More
It's a strange anomaly.Most people who set out to start... Read More
If you're an entrepreneur responsible for your own small business... Read More
How many "get rich schemes" have you joined? Or have... Read More
Most small businesses incorporated in 2005 will fail by the... Read More
Every business plan book tells you how the Executive Summary... Read More
No, I'm not talking about gambling or dairy cows ?... Read More
Perhaps you are building a new home office or you... Read More
What will your business look like a year from today?If... Read More
While there are few career paths that some would call... Read More
It is essential that you fully understand how the fuel... Read More
Here are some of the questions that you need to... Read More
Here are some sound debt collection techniques that can be... Read More
You may be in Mail Order, Direct Mail, or you... Read More
One of the biggest fears people have about starting a... Read More
As you may already know, asphalt paved parking lots do... Read More
Some things in business are relatively easy to measure ?... Read More
-- The One Pager Shortcut Series --An effective and compelling... Read More
If you own a mobile car washing, pressure washing or... Read More
I believe the number one reason why a business will... Read More
Don't you find that there are so many decisions you... Read More
We all know that a building has to have a... Read More
Writing a business plan for your Solo Entrepreneur business doesn't... Read More
Tap these treasures of ideas. The best money you can... Read More
Some of the very qualities that attract people to the... Read More
Small Business |