How to Manage Your Early Startup Legal Hurdles

It never ceases to amaze me the trials and tribulations that befall entrepreneurs on a daily basis. There have been clients of mine that I would assume would face more than their share of issues while conducting business. On the other hand, I’d be surprised if any of my ‘A Team’ clients I‘ve worked with fell into a bad situation with their business.

I have two young female founders of a trendy fitness studio in Vancouver. They are a mentor’s dream. They are organized planners. They choose the agenda for our monthly meetings, they come prepared, and take copious notes. My colleagues who meet them see them as winners on the road to success.

I don’t want to infer that it is easy for them but they have done their first business together the right way. While some would choose a passion and build a business around their lifestyle, these young women researched and identified a business model and market that they felt they could dominate in time. They have systems in place (a la Michael Gerber) and use my input wisely.

I was surprised at our recent monthly meeting to hear of issues that could be catastrophic to some entrepreneurs. Four separate issues they faced in the last month required a legal assessment and intervention on a diversity of issues.