You’re busy. You have client meetings and deadlines to make. You take a glance at that contract you’ve been meaning to thoroughly read. It looks official. There are all those big, impressive words and fancy clauses. You think, “why not just sign it and save some time? Everything seems in order.” 

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LegalEdge-4.dceo_.01.12.pdf

Let’s face it, the end to any relationship can be rough. But when business mergers fail, they can also be profitable. Just ask T-Mobile and its parent company Deutsche Telekom, which will earn a record $4 billion for NOT being bought out by AT&T. 

If you get into a crash, you won’t survive without an airbag. The same goes for your company.

In this economy, not having a succession plan in place could be the worst thing for your small business, your family, and yourself. In the event of your death or incapacitation, what’s going to soften the blow?

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My Legal Edge Column in SmartCEO

As the CEO of your small business, legal matters are bound to arise. And eventually, it’s inevitable that you will have to deal with an attorney.

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LegalEdge-1.dceo_.10.11.pdf

According to Small Business Trends, 77% of small business owners love what they do--describing themselves as either “very” or “extremely” happy about running a business.

Over the course of your lifetime, over 1/3 of your waking hours are spent at work. Why waste your time doing something you don’t enjoy? Don’t get me wrong—work is not always going to be fun. But if you have to work to survive, you shouldn’t have to drag yourself out of bed for a job you dread. 

Taking your issue to court is never easy. Litigation will cost you and your business both time and money—sometimes up to millions of dollars. As a business owner, it is imperative to know when you should fight it out in court, and when to keep your battle at bay.

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LegalEdge.dceo_.09.11.pdf

Starting a business isn’t easy. Most likely, plans for financing, marketing, and developing a customer base are keeping you up at night. But, you may be missing the most important piece of the puzzle: location.

Before you begin drafting a business plan, hiring employees, and spreading the word about your new project, you must ask yourself: where will my business be most successful?

Names are important. Think about it—having a name helps to define you as a human being. You may not realize it, but in the business world, the name of your company is just as significant. In fact, there’s proof that the name of your new business can make or break its success.

Consider the example of Minnesota Mining and Manufacturing Co.: a name that is robotic, dull, long—and forgettable. In 1902, the founders renamed the company “3M”—short and simple, but memorable. Today, the “3M” trademark is recognizable on Post-It notes, Scotch tape, and band-aids.

Stress is a part of life. If you’re running a business, you’re no stranger to daily pressure. But business experts are urging you not to keep confronting it head on.

According to the American Express OPEN Small Business Monitor, only 46 percent of U.S. business owners plan to take a vacation this summer—down from a high of 67 percent in 2006. Hectic work schedules and a lack of affordability are the top reasons behind this significant decrease. 

As hackers become more skilled at their craft, the threat they pose to small businesses, giant corporations and governments becomes increasingly dangerous.  Cyber attacks can steal sensitive information, potentially putting national security at risk.  The United States government is responding to this online hazard by passing legislation requiring businesses to notify consumers if their information has been accessed by hackers, in addition to increasing the penalties for such computer crimes.

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August SmartCEO.pdf