There are many types of business advisors-financial, legal, insurance, special projects, etc. -who can offer expertise in solving specific problems that inevitably face every business owner or budding entrepreneur.
Employing specialty advisors on an individual basis has value, however, many business owners struggle with the process of determining just exactly what they need!
Choosing a general business advisor is a serious decision. It is important that you select a business advisor who is competent, experienced and has both integrity and expertise-someone you can trust in this newly formed relationship.
Here at Your Consulting Services, we have over 130 years combined business experience and are qualified to advise you through every step of starting and/or expanding your business.
Whether you need help writing your first business plan or negotiating the big deal, Your Consulting Services is dedicated to providing you with the most accurate and comprehensive advice possible.
Learn from our experience; it could save you from making costly mistakes!
- Don't Put All Your Eggs in the Same Basket. Create a different entity for each asset, so if you are sued, all your assets are not wiped out.
- Be very Cautious of General Partnerships. A general partner can commit the partnership to any legal contract; whereby all general partners are jointly liable.
- Never Ignore a Lawsuit. People are sued almost everyday for frivolous matters. Even if it seems frivolous, if you are served or threatened with a lawsuit, get legal advise immediately. Even if the case is groundless, you could end up spending big bucks just defending yourself or your businesss.
- Keep Adequate Insurance. One of the more valuable conditions of a good policy is that the insurance company must provide your defense in the event you are sued.
- Develop a Plan. Take time to understand what you have, what you can lose and what the best way to protect it is. Be sure to find out what assets are protected by your state laws.
- Keep control. An asset protection plan should be structured so that you never get into a position where another person can manipulate your assets.
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