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.
same day cleaning service Des Plaines ..One of the hidden perks of raising six children is... Read More
If you are in a franchise and have a territory... Read More
There are only a handful of car wash franchises in... Read More
IntroductionIt is widely recognised that Email and the Internet is... Read More
The easiest way to lift profits is to cut the... Read More
Seems as though there are a lot of business closings... Read More
If you're starting your own business or currently work for... Read More
The American system of business management has been admired and... Read More
There are no "rules of thumb" in the pursuit of... Read More
If you run a pressure washing business it is a... Read More
The life cycle of the typical small business is short... Read More
In general, all of us know how to accomplish the... Read More
In today's economic climate, the first priority for the small... Read More
How far away is the person you need to meet?We... Read More
There is a rather famous true story called "Acres of... Read More
That sizzling sound you're hearing may be a symptom of... Read More
A janitorial cleaning service is one of the best businesses... Read More
The Boston suburbs seem to be rich with possible locations... Read More
The choice of financing is an important determinant of whether... Read More
You are selling your small business (business value under $1... Read More
Having a successful business means also having a good working... Read More
Pet Transportation Services are needed as the number of pets... Read More
How do window cleaning franchise businesses start? It is a... Read More
Franchisor expansion policies are not as simple as one might... Read More
For really tough boat hull cleaning you will need to... Read More
home cleaning services Mundelein ..Why should you always maintain a good report with a... Read More
If you own a small business, then you know the... Read More
"I don't know the key to success, but the key... Read More
Why should you describe your business to others in 5... Read More
I was floored! I couldn't believe what they were saying!... Read More
Looking for a place to add a Quick Lube away... Read More
As long as you eat and breathe you will stay... Read More
If your home business is not performing the way you... Read More
If an organization lacks a mission statement, it is worthwhile... Read More
Back when I owned an inventory-based business, one of my... Read More
When you feel like you're always busy working on your... Read More
When it comes to cost, how much can you afford... Read More
Too often in business we get trapped into reviewing our... Read More
Why would you use an event pass?Event passes are often... Read More
Scenario OneDuring a recent presentation, a business owner was given... Read More
A cluttered world of marketing communications diminishes the ordinary. The... Read More
Cleaning the trailers towed by big trucks is not easy,... Read More
Are you a home or small business owner and you're... Read More
$elling $elling $ellingWhat makes a great sales person? Well, the... Read More
Purchasing a franchise has become one of the most popular... Read More
Mobile carwashing is hard work, it is tough on the... Read More
A solopreneur I know disappears from my radar screen for... Read More
Starting and managing a small business is no fun chore,... Read More
Aside from the fear of losing a spreadsheet or research... Read More
Rule 15C211Under SEC Rule 15C211, a U.S. securities broker or... Read More
Small Business |