As March Madness overruns offices nationwide, bearing endless brackets and betting, entrepreneurs and small businesses would do well to reflect on their own playbooks. Just like the best college basketball teams, your business can’t rely on player talent alone but must also have a long-term, actionable plan.
While it’s tempting to focus solely on budgets and business models, developing the proper legal playbook is critical to success. This is true whether you’re starting, growing or maintaining your business. But where do you begin?
With the correct counsel, proper documentation and compliance with the law, you’ll likely have more than just a successful season — you’ll have a winning long-term record.
Here are six tips to achieve just that.
1. Keep score — get everything in writing
Whether they are working with new employees or repeat clients, business owners should always provide written documents agreed upon by both teams. Contracts provide all players with their obligations, rights and responsibilities and are essential to achieving that home-court advantage. It’s important to remember that a contract does not guarantee the other party will follow through on the agreement, but it does mean that a court will likely look kindly on you if need be. Get five more tips about this story on PBJ.com.
