Business · January 25, 2022
Whenever you have a partner or multiple owners in a business, one of the most important—but often overlooked—aspects of the relationship is planning for how it will end. It's crucial that you come up with a clear exit strategy, and do so at the start of your relationship when things are going well, and not wait until you encounter problems down the road. Indeed, the more thought you put into your exit plan ahead of time, the smoother things will be when one of you finally does move on.
Business · November 09, 2021
A large part of being a successful business owner is knowing how to consciously manage relationships and facilitate conflict when it arises healthily and productively. When business owners and managers find themselves in a disagreement or misalignment of expectations, the potential costs are endless. No one wants to end up in a dispute. Fortunately, there are steps you can take to reduce your chances of conflict in the future. Learn more here!
Estate Planning · September 24, 2021
Don't let what happened to Bob Ross's family happen to yours. If you own a business, it's crucial to put in place an effective estate plan and should be properly coordinated with your business agreements to ensure that all of your wealth and assets will be passed on to your loved ones in the event of your death or incapacity. Failure to do this could lead them in the same situation as Bob's son, Steve, who's left with nothing, while the business built by his father continues to earn every year.
Estate Planning · September 17, 2021
Bob Ross's philosophy in both painting and life was that there "were no mistakes in life… just happy little accidents." Sadly, as detailed in the recent Netflix documentary Bob Ross: Happy Accidents, Betrayal & Greed, Bob's failure to coordinate his business agreements with his estate plan was anything but happy, leaving his only son unable to benefit from his father's fame and fortune. His planning failures have led to an ugly court battle between his former business partners and his family.
Business · May 04, 2021
Going into business with your spouse or romantic partner can be an amazing opportunity—but it can just as easily be an absolute nightmare if not handled properly. Regardless of how amazing your love life may be, there's no guarantee you'll be equally compatible in a working relationship. It can potentially wreck both your business and marriage if things don't work out. Make sure to clarify the potential problems, risks, and benefits before jumping into business together.
Business · March 02, 2021
Conversations about data privacy policies and website terms of use have become more common in recent months. Large companies have been involved in litigation concerning agreements that address these very issues. “What are these agreements? “Do I need them on my website? These are the most common questions business owners have in mind. Ensure that your website has all the legal agreements in place to protect your business, especially if your business engaging with customers via the website.