Tag Archives: business owner

The Pitfalls of Wearing Too Many Hats

One of the pitfalls that many business owners face is “wearing too many hats.” That means the business owner tries to do everything. They take on part of all the company’s issues including human resources, vendor management, money issues, accounting, customer service, marketing and many other duties. Business owners can quickly get overwhelmed and make mistakes or overlook important concerns. It’s exhausting to try to do everything and businesses sometimes fail when the owner is overworked and exhausted.

business rolesA business law specialist can help you manage the many duties that are involved in operating a business. Running a company is tricky and there are many rules and regulations that an owner can easily break. Important regulation topics include human resources, taxes, franchising, contracts, vendor relations and a multitude of other issues. A business law professional may seem like an expense, but in most cases, a good lawyer can help save business owners money.

Human resources policies help companies run smoothly. They address hiring, firing, warnings, wages, employee complaints and sexual harassment issues. A business law attorney can connect you with a HR service or person to help you draft appropriate policies that are in compliance with applicable laws. The policies will also be thorough and will help other employees take on duties such as hiring and managing the business. This will take many duties off of your plate. Many of your workers may be eager to take on additional tasks. Creating policies is one way you can involve workers while ensuring that your business runs smoothly.

Contracts with vendors and customers can be extremely complex. If you don’t have expertise in contract law, it’s easy to get confused. Many business owners lose money or miss opportunities because of their lack of understanding of business law. You can be taken advantage of by unscrupulous suppliers or buyers if your contracts aren’t written correctly. You may want to control every aspect of your company but a business law attorney’s advice is critical when it comes to creating agreements. Your business law attorney can help you understand the terminology and point out issues that you may not have noticed. This can save you a great deal of money and frustration in the long run.

 

Opening Locations outside Your General Region

Expansion is an interesting time for a business. If you’ve analyzed the market and feel there is growth potential for your company, you are probably excited about the opportunity and nervous about the process. If you are considering opening locations outside your general area, all the issues associated with expansion become more complex. That’s why it’s essential to seek the guidance of a business law expert. This guidance will help you make the right decisions and set yourself up for future success.

Most business owners quickly become familiar with the regulations that apply to their region. When you decide to open locations beyond your original area, you will have to deal with new local, county and state regulations. These can make tangible differences in how your company operates in the new locations. You don’t want to find out about business regulations in other areas by violating them. Instead, you should work with a business law attorney to thoroughly research the regions issues and how they will affect your business.

growthYou may need to adjust operating hours or hiring practices to fall in line with local regulations. In other cases, you will have to acquire permits or fill out paperwork that differs from what you’ve done in the past. A business law attorney who is familiar with the new region can help you navigate these new concerns and help you address them appropriately.

When you open locations in other areas, franchising may be an option. It is a great business model for some companies but it doesn’t fit every situation. A business law expert can help explain the pros and cons of franchising in depth. If you decide to pursue franchising, you will need help creating policies, operating manuals, financing agreements and contracts. A business law attorney is essential during this time. If you try to create these documents on your own, you could make an expensive mistake or run afoul of state or federal regulations.

The most important thing you can do during an expansion is research. Understand the market thoroughly before you move forward. Then, find the right business law attorney to help you build the foundation for your new locations.