ENTREPRENEURS: ARE YOU STUCK IN YOUR ‘ZONE OF GENIUS’?

First off: there’s nothing wrong with working within a “zone of genius.” More often than not, respecting that zone is the best way to build a successful business. You, as a business owner, might be a marketing wizard. Or, your forte might be managing and optimizing teams. Technical knowledge of your products and services—never a bad thing—could be what you bring to the table. 

To assemble a plan for a sustainable business, though, you need more than one zone of genius. You need several, and at least one of them should be a legal zone of genius. Growing your business is great, but growing your business with a plan is what ensures it can last as long as you want it to last.

Asking For Help is an Act of Courage

A nefarious, persistent myth is that asking for help is a sign of weakness. Entrepreneurs are uniquely susceptible to this dangerous line of thinking. As business owners ourselves, we understand the need to feel in control. With everything that entrepreneurs have to deal with, it’s completely understandable not to meddle in matters that aren’t presenting problems for your company. Just because everything is fine now does not mean it will stay that way. 

A legal dispute is much cheaper to resolve before it even happens. As soon as you receive papers for a lawsuit or recognize the need for your company to file a lawsuit, the preventable damage has been done. It’s much less expensive and much better for your business to hire an attorney at the beginning than to hire one when your business is under siege. Any business attorney who tells you otherwise is not looking out for your company’s bottom line—only theirs. 

Air-Tight Contracts

In so many circumstances, it all comes down to a company’s underlying contracts. What was the company obligated to do, and what were others obligated to do for the company? Without thorough and well-negotiated contracts, your business lacks a strong foundation. 

Good Lawyers vs. True Advisors

Let’s consider a business owner who, through bad fortune, has lost $3,000,000 due to an embezzling business partner. The owner goes to an attorney to recover the lost money. The attorney informs his client that it will take at least two years and $250,000 to recover the lost money. The attorney, knowledgeable in civil disputes and an overall skilled professional, could choose to wring every last penny of the $250,000 from the client. 

On the other hand, another attorney who truly wants to see her clients succeed would suggest starting over with good contracts for a fraction of $250,000. That way, the client would be in a better position in two years—with earnings well over $3,000,000. A good attorney can win the day, but a great attorney—and true business advisor—can help you beat your legal issues and the competition. 

Hudson Legal’s only goal is to help our clients build their companies for tomorrow. We will figure out what you need and how to help you get there. We don’t cut corners, because doing things right the first time is the best way to do anything. Call us at (678) 825-4525 to discuss your options.

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Sage Business Counsel

The legal team at Sage Business Counsel, an innovative business law firm based in Atlanta, serves growing companies all across the US by providing strategic counsel at every stage of growth.

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