Do you feel that its not the right time of year to consider the legal risks in your business? Is dealing with the legal risks in your business something that you don’t want to have to consider? So often we have business owners come to us after they have encountered a problem and wondered why they didn’t take steps to prevent the problem from arising. The truth of it was that they made the excuse that it wasn’t the right time to deal with fixing the problems in their business. This is a dangerous path to take and is a bit like owning a house or a business without any insurance in place. In this article we will discuss the three main excuses that we hear, its not the right time of year, I can just fix it later and lawyers are expensive.
Its not the right time of year
There is no right or wrong time of the year to deal with the legal problems in your business. Sometimes business owners feel like they are too busy and don’t want to deal with their problems. The truth of it is that these problems arise at all different times of the year and just because you are busy doesn’t mean that you don’t need to deal with a problem straight away.
I can just fix it later
Most legal problems can be prevented in a proactive way before they arise. All too often business owners take a reactive approach to the legal problems in their business. So often we hear business owners say that they will just fix the problem later. This is a dangerous path to tread as you will continue to expose your business to problems that can be avoided. These problems can end up exploding to a point where they can’t just be fixed later and they are often irreversible.
Lawyers are expensive
Often the investment of being proactive can seem like a lot at the time but the cost of not dealing with your legal risks before they arise is so much more. You need to consider the cost of obtaining legal advice as an investment in your future, just like insurance is an investment in helping you if there is a future problem with your business. The reason that I developed the Business Legal Lifecycle was due to my frustration with the fact that so many people could prevent problems before they arise.
One business owner nearly lost $2million of his own money because he didn’t want to invest in legal advice. Another ex-partnership lost over $1million of other people’s money all because they didn’t invest early in their business. When you shift your mindset to legal fees being an investment rather than a cost then you will see the benefits in obtaining legal advice.
About Business Legal Lifecycle
At Business Legal Lifecycle we know that dealing with a lawyer can be difficult, it can seem daunting and costly. That is why we have designed our Legal Risk Assessment and Education Course to help you to understand the law without a law degree. Without knowledge you don’t know your legal risks which could cost you a lot in the future.
By working together with the Business Legal Lifecycle lawyers can help their clients to prevent legal risks within their business and prevent so many problems that commonly afflict small to medium sized businesses.
Get your Business Legal Lifecycle Legal Risk Assessment by clicking here now.
Still unsure check out the legal foundations for your business with our free “workbook” (to be written)