As we’re approaching the end of 2015, it’s a great time to reflect back on your business last year and resolve to make changes in 2016.
The following “resolutions” are items that will help strengthen your business in 2014 and beyond, take a look through and see how many you can smugly say “I already do that” to:
1. Plan your Estate: have a Power of Attorney for Property and a Will to ensure your business can run if you are incapable of running it and will be handled the way you want it after you pass away.
2. Terminate employees who are disruptive in the work environment but only after you consult with a law firm as to what, if any, notice you must provide to those employees. It only takes one employee to throw a wrench into an otherwise happy work place: procrastinating termination only makes it worse.
3. Collect your Receivables on time, not when your customer decides they’ll pay you. Use our Trademarked 30-60-90 Sue TM plan and you will not have to explain to your Bank why your receivables are too aged to finance.
4. Speaking of Trademarks, if there is a slogan that is important to your business, consider Trademarking it: a good lawyer will advise you if this is worth it to your business.
5. Do not respond to letters from lawyers unless you are a lawyer. The law can be technical and if you respond to a letter you may narrow your lawyer’s legal options in the future.
6. Review your Financial Statements Regularly: there is no point working hard if you do not measure the success of your efforts. If you do not understand the Statements, hire someone to teach you, you cannot rely on others to explain your business to you: you must understand it yourself.
Cheers to a prosperous & happy 2016!
Inga B. Andriessen JD