As a business owner, your overall goal is to ensure that you are able to help your clients, pay your employees well, pay yourself well, and to pay expenses. If your business has shareholders or investors, that brings another important consideration as they too want and need your business to prosper.
Business owners face a lot of pressure. There are situations in business that require special care and handling to create the most benefit. Mishandling of those situations could cause a negative impact on your business. While there is practically no end to the potential situations you may encounter, this article focuses on the ways that relying on a business attorney to help you navigate the tricky waters of relationships and business.
Strategic Relationship Management
While there are occasions in business when a “bull dog” approach is warranted, it does not happen as often as you might think. Business is more about creating win-win situations, maximizing regular, sustainable income and minimizing time spent arguing with others. Working with an experienced business attorney, you’ll have a partner representing your business and your interests. We understand when an overly aggressive approach may devastate a business relationship and when it may be warranted. We understand the importance of handling business relationships with the skill and precision of a surgeon. A delicate, precise approach to the actual or potential issues affecting your business is far more effective and beneficial than taking a single problem to such an extreme approach that doesn’t give enough thought to the potential, long-term outcome, nor the negative effects that may come back to haunt.
When existing and potential business relationships are strategically managed, it reduces the risks faced by your business. It makes it easier for everyone involved to mutually benefit from the relationship. It makes it easier to keep open lines of communication as well as helps ensure the uninterrupted business practices between the parties. Happy clients can result in future referrals for your business!
Finding the Right Vendors and Strategic Partners at the Right Time
Businesses of every size get bombarded by potential vendors. How do you know which vendors you should rely on that will most benefit your business operations, finances, your clients, and your long-term goals? The truth is that it can be a difficult and time consuming proposition to determine the vendors you should rely on. Larsen Law can help you determine which vendors to use, pointing out additional items for you to consider, questions to ask, and assurances to ask for. Larsen Law can also bring years of experienced negotiations to your side, helping you obtain a better, long-term relationship that works well for both parties, saving key management time, resulting in their return to their normal tasks within their wheelhouse and expertise.
A business attorney with experience working with and representing businesses in your industry may be able to suggest multiple vendors for you to consider and alternate options regarding the acquisition of the goods and services you need. Being highly skilled in the process of negotiation, a business attorney may also be able to assist you in obtaining vendor contracts that are more favorable for your business. If you have specific vendors in mind, Larsen Law may be able to help you negotiate with them for better terms and relationships that last, eliminating the need to spend time sourcing alternates unnecessarily.
In addition to helping you with vendor selection and negotiating the terms, a business attorney can also assist with strategic partnerships when the time is right. As your business expands to take care of more clients or if you determine other services or goods that you should provide to your clients, creating and maintaining strategic partnerships becomes essential. However, savvy business owners understand that identifying, creating, and maintaining strategic partnerships can be quite time consuming. As with vendors, it is important for you to be involved in the process, but spending too much time on this aspect may deter from your attention on other mission-critical management tasks, less time taking care of your clients, and perhaps even less time reaching out to potential clients.
Strategic Planning to Head off Potential Future Problems
Many times, busy business owners have to focus on the primary issues at hand requiring resolution quickly, focusing straight ahead at what they’re doing (or need to do) for their clients as well as growing the business. That focus is rightfully placed. However, this comes with an increased likelihood that potential future problems may not be spotted or fully considered. An on-going relationship with a business attorney gives you someone who is looking out for your best interest. That includes helping you recognize and strategically plan to help avoid potential future problems. It’s important to follow the old advice of “an ounce of prevention.” Generally, identifying potential problems, minimizing risks, and creating a plan to address those potential issues. Strategic planning is more cost-effective and productive than addressing a problem that may have been prevented.
Cost Savings for Legal Help
A long-term, ongoing relationship with a business lawyer can provide cost savings for your business, helping you get the answers you need quickly while potentially saving you money. You’ll also have a partner who takes the time to get to know you as well as your business, eliminating the need to reinvent every wheel that comes up. When a lawyer truly knows and understands the needs and goals of you and your business, you get better representation. You’ll also usually have a better relationship because your lawyer is someone that you may speak with on a regular basis, particularly as you have the opportunity to work with more clients or partners.
Larsen Law: It’s All About You
Here at Larsen Law, we take a unique approach to working with businesses. It’s not about our ego. It’s not about the billable hour. It’s all about you. It’s all about helping your business in a way that is cost-effective for your and helps you take your business to the next level. To learn more about how Larsen Law can put our more than 30 years of business and contract law experience to work for you, give us a call at 303-520-6030 or use our contact form. We’re here to help you succeed!