Growing Your Business…The Right Way
Our March dinner meeting provided a moderator and panel of three veteran small-business owners and experts in the fields of business law, staffing, and organizational development to provide insightful information to grow your company and avoid business growth obstacles.
The following panel was moderated by Sheila Ivary of SIvary Consulting, a business performance and development consultancy:
Erin Giglia, attorney and owner of Montage Legal Group focused on key decisions to be made prior to expansion.
Here are a few things Erin said about evaluating your business for expansion:
- Make sure your business is structured to maximize growth. The ideal entity form will vary from business to business, depending on current circumstances and goals. Meticulous record keeping is a must.
- Obtain trusted legal counsel to assist you with your legal business needs. Legal counsel is crucial to keeping businesses current and compliant with all applicable law and regulations. A good lawyer will protect your interests, and will help your business avoid costly mistakes.
- Do not rely on legal software to assist you with important business decisions or documents. There is no substitute for a trusted legal advisor of your choice. Remember that attorneys and law firms exist to help businesses of all sizes, and can help you be aware of the issues involved as you grow your business.
Kathy Dawson, owner of Dawson & Dawson, Inc. Staffing and Search focused on planning for your staffing needs to support business expansion.
Here are a few things Kathy said about the keys to building her business to $2.5M in 4 years and how to plan for an increase in staff:
- Planning, partnering, networking, passionately pursue businesses that need your services. Use ‘The Law of Attraction’ in your favor! (The Law of Attraction simply says that you attract into your life whatever you think about. YOU really do create your own reality.)
- Be BETTER than the best in your industry. Become a positive, influential expert in your field that others will naturally be attracted to. They will want to help you. Keep overhead costs low and profits high while building long-term relationships.
- Have fun at your work! Build fun into your day to be true to yourself. Productive people are happy people and happy people are MORE productive!
Rochelle Burgess, organizational development and HR specialist, and owner of Innovative Partners in HR & Leadership, focused on employment law and retention of valued employees, while positioning your company for expansion
Here are a few things Rochelle said about protecting your business:
- Leaves of absence: Keep clear policies and documentation now, not later.
- Employee classifications: Learn the laws well. (For example, new for 2012 – must have a signed offer for new hourly employees, with specific information included – did you know?)
- Five generations working together: Encourage open communications about what is expected from you and what is needed by each of their generations.
The following are actions to take now, toward planning for business expansion:
- Remember, there are advisors that fit every budget and can help you get the answers you need for your business—interview until you find the right fit for your business.
- Consider all the businesses in NAWBO that could be a trusted advisor to your business. Take the first step toward building valued relationships.
- Make sure your most valuable employees are getting what they need (not just $) so they will want to stay and help you expand your business.
Our moderator and panelists can be reached through email or phone at:
Erin Giglia – firstname.lastname@example.org 949-400-0798
Kathy Dawson – Kathy.Dawson@dawsondawsoninc.com 949-421-3966
Rochelle Burgess – RSBurgess@Innovative-Partners.org 949-439-3214
Sheila Ivary – email@example.com 949-706-7042
Presentation recap written by Linda Schotborgh with 3D Pearl Photography and Sheila Ivary of SIvary Consulting