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.
custom home cleaning Wilmette ..You know your prospects need what you sell. You know... Read More
Today required franchise disclosure documents are over 200 pages generally.... Read More
Completion not Perfection Five Keys To Doubling Your Productivity and... Read More
What's your job profitability? I meet with business owners every... Read More
No matter how small your small business is, it is... Read More
The story is told of a tiger chasing some goats... Read More
Database Problems in MarketingI have been working on a direct... Read More
There's been a recent rise in the number of elderly... Read More
Many experienced auto detailing professionals who have started out using... Read More
In the book Women and Small Business author gives all... Read More
I've got good news and bad news. The good news... Read More
People will always stress that having a well researched business... Read More
Buying a franchise is not for everyone. This guide will... Read More
The Franchise Group at the Federal Trade Commission in all... Read More
Opportunities for home show businesses have never been more abundant.... Read More
Why are Chambers a good launching pad?Chambers provide you with... Read More
If you're looking for start-up capital for your business, but... Read More
Perhaps you are building a new home office or you... Read More
The book, "Become the Squeaky Wheel," by New Hampshire author... Read More
E-mail and Internet use are integral parts of the typical... Read More
Q: After years of dreaming about starting my own business,... Read More
What will your business look like a year from today?If... Read More
You can make your trade show experience much easier by... Read More
Outsourcing is the strategic use of outside resources to perform... Read More
When we speak of branding most of the time people... Read More
same day cleaning service Morton Grove ..Pet Transportation Services are needed as the number of pets... Read More
What does it take to grow a business and run... Read More
1. Leadership Is Learned ? While many people appear to... Read More
A Small Business Opportunities Magazine is one of the new... Read More
People will always stress that having a well researched business... Read More
I believe the number one reason why a business will... Read More
Security Professionals provide the products and services necessary to create... Read More
Opening a carpet cleaning business is a great way to... Read More
KEEPING INTEREST HIGH: Supervision is key to the success of... Read More
Company mottos can easily be printed on a business card.Sometimes... Read More
Why does research and education play an important part of... Read More
Every business starts with an idea or a dream. To... Read More
You know what makes me really happy? Drinking a Starbucks... Read More
Ask anyone trapped in a cubical about their entrepreneurial dream... Read More
This is the tale of two business plans with very... Read More
SBIR Corner: FFP vs. CPFF contracts:In the SBIR/STTR world, the... Read More
Business consulting opportunities might be just what your are looking... Read More
Paul Leonard's BirthdayCards2Go.com paid greeting card service offers convenience when... Read More
$elling $elling $ellingWhat makes a great sales person? Well, the... Read More
Before you read any further in this article, I'd like... Read More
One of the best marketing strategies a business or organization... Read More
Summer is a time for the outdoors, for that well-deserved... Read More
Many smaller businesses choose niche markets for various reasons and... Read More
Pardon my enthusiasm, but a large part of your small... Read More
The Federal Trade Commission is upgrading the franchise law and... Read More
Small Business |