Common subjects in my blog posts are about trust and protecting yourself.
My wife hates that I say "do not trust anyone." But, in a business context and whenever dealing with money, you cannot blindly trust anyone. Not even your sibling.
For example, I have a client who, after 20 years of working together, is just realizing his brother has been stealing from their mutual business for many years. My client let his brother handle the finances and never verified his share of the profits.
I have another client who owns a business. He let the former owner of said business stay on as the President of the company. He also gave many cash payments, out of his own pocket, to the President for various company purchases.
My client never received a receipt and never verified where the money went. Now, the President is alleging that my client stole 50K from the company. My client does not have any documentation about payments he made on the company’s behalf.
I hear 10-20 stories like this every year.
So, please let my clients’ stories serve as a warning. Get everything in writing, get receipts and be involved in your company’s finances.
Lastly, hire an attorney whenever appropriate to protect yourself. Especially, if you are signing a contract.
Thank you for reading, my business is to protect your business!
Watch the video above to learn more.