The one who knows how to ask all the right questions. The professional you need on your team as you make the tough decisions required daily in your role as the leader of your company.
Once trained by New Law Business Model™ and fully endorsed by Eyes Wide Open LLC, a Family Business Lawyer® has the unique training, experience and wisdom to support you in ways that other professional advisors simply do not.
Big companies commonly employ in-house general counsel to support the work they do in the world. These lawyers proactively identify missed opportunities for the company, spot potential risks and create plans to mitigate risks and build on opportunities.
For example, each time you create something new, consider an investment, or hire a new team member, creativity and efficiency are compromised significantly when you also to have to consider every contingency - especially those that impact taxes, insurance and the legal, and financial aspects of your business.
As a micro-business (small or medium-sized business) owner, you may not be aware of all the ways you are leaking money, putting yourself at risk and possibly limiting the positive impact you have on the lives of your clients. You may even be busier and more overwhelmed than is necessary to be successful.
Your Family Business Lawyer® is specifically trained to help you keep more money in your business and personal accounts, watch out for pitfalls, handle sticky situations (ideally before they even get sticky) and effectively tend to the parts of your business that are especially challenging.
You always said you wanted someone who could do all “that” stuff - the tasks that you’d rather not handle.
That’s precisely where your Family Business Lawyer® steps in.
Now this doesn’t necessarily mean your Family Business Lawyer® is going to DO all these things him or herself. But as you don’t execute all aspects of sales, marketing and fulfillment yourself, your Family Business Lawyer® will efficiently take care of the tasks best suited to their qualifications , and will outsource the rest to save you time and money.
You may not have realized that this type of guidance and support is available. This is no surprise, as so few understand that this is the highest form of lawyering.
Most lawyers have been taught that the legal profession is all about forms, documents and templates, most of which are available online for those looking to cut corners and do-it-yourself. Most business owners don’t even think they need a lawyer. Maybe this is why at least 66% of all businesses fail.
Lawyers providing standard documents and forms on a one-off basis without truly getting to know you and your life and business are likely just inexperienced. What they are doing is not family business lawyering.
Your Family Business Lawyer® may hire this type of lawyer to support your work with one-off needs, but your Family Business Lawyer® is so much more than that.
Family Business Lawyering emphasizes counseling, consulting, and “consigliere-ing” over creating documents. Document creation becomes a useful byproduct of the professional relationship.
Even though you don’t necessarily run a big company, your vision, your heart and your soul still deserve, and frankly require, this vital relationship in order to reach its highest potential.
Case in point: Warren Buffett doesn’t make a business move without consulting with his personal lawyer, Charlie Munger.
Why? Because Charlie’s wisdom combined with his legal acumen, experience and ethics are invaluable in helping Warren achieve his professional goals with ease.
Think having a Family Business Lawyer® would be too expensive? Consider the high cost of taking too long to make decisions, making the wrong decisions, not setting and maintaining boundaries, collecting on promises and second-guessing yourself constantly.
Now consider how much more you would earn if you multiplied the speed of your decisions and execution on your projects by ten?
You’ll only work with a Family Business Lawyer® long-term if the 10-fold value on your creativity far exceeds what you would pay your Family Business Lawyer® for his or her services.
Because your Family Business Lawyer® bills services on flat-fee or a monthly recurring basis (all agreed to in advance so there are no surprises) you’ll quickly determine whether the value of his or her services are worth it.
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