I have worked with hundreds of entrepreneurs and probably over 30 extremely successful ones. In my years as a business lawyer, I have noticed something.  First time entrepreneurs shy away from speaking with attorneys and the last thing they want to think about is business planning or even worse, business legal matters.

On the other hand, experienced and serial entrepreneurs (meaning those who have millions of dollars of net worth after having built successful businesses) will hardly make any significant business decision without consulting their business lawyer. And, while they too do not get excited about business law or planning, they know that these two principles are essential to building a business of any real value.

I have the interesting background of being not only a lawyer but also an entrepreneur and sometimes serving in a business development and sales role for my clients.  So, I also understand the feeling you get when business legal or organized planning issues come up . . .and sometimes seem to get in the way of building a business.

But, to the contrary, these two concepts- business law and business planning- are key to making money . .  or at least keeping money.  And, making money is the main reason anyone is in business.  If you, as an entrepreneur can understand this, your business life will go more smoothly and you will avoid many of the the pitfalls, problems and even failures that are common with first time business owners.

Tagged with: •

Filed under: Business Planning

Like this post? Subscribe to my RSS feed and get loads more!