When two people decide to start a business together, it’s important for them to use a business partnership agreement. This is essentially a legal contract. It helps to define their relationship and gives them different responsibilities and obligations. This can help...
Business Disputes
4 tips for communicating with suppliers
A significant percentage of supplier disputes occur due to poor communication. If a business communicates effectively with suppliers, and vice versa, the chances of mistakes, such as delays and the delivery of the wrong materials, may decrease. Below are four tips for...
My employee is engaging in fraud. What do I do?
From ensuring compliance with applicable regulations to marketing, dealing with vendors and managing day-to-day operations, running a business is anything but a walk in the park. As a result, you likely need support in the form of employees to run your company. When...
How to handle a disgruntled employee: 4 tips
Chances are you do your best to improve employee satisfaction. However, one of your workers may be unhappy. Numerous factors can lead to this, including disagreements with coworkers, feeling overlooked, disagreeing with how management handled an issue and so on. It's...
5 ways to protect your business from a lawsuit
Running a business is not easy. With so many moving parts, it's easy for something to go wrong and for someone to file a lawsuit against you. Lawsuits can be costly and time-consuming, potentially ruining a business if it's unprepared to handle them. Here are some...
3 signs you need to terminate your partnership contract
Venturing into the world of business can be exciting and frightening in equal measure. Whether you are crafting your business idea in your college room or simply looking to take an existing business to another level, getting into a partnership with a like-minded party...
Do you need a reason to fire an employee?
As the owner of a company, you realize that you need to downsize in order for the company to remain profitable. You tell some of your employees that they’re going to be let go. They’re naturally not happy with this decision, but you feel that you have to do what’s...
2 reasons business partnerships fall apart
Running a company on your own is no small feat. At some point in time, you may opt to enlist the help of a business partner. Having the right partner on board gives you an extra pair of hands and it can really help the company go from strength to strength. Sadly,...
Protecting your trade secrets when an employee leaves
A company’s trade secrets are among its most prized assets. They are the heart of its success, identity and revenue. That’s why every possible measure should be utilized to stop them from ending up in the lap of rival organizations. This can be tricky when employees...
Can your competitors set their prices to hurt your business?
Having a couple of competitors can be good for your business. While you have to share the market, you won't find yourself stretched too thin to maintain your standards. You can turn aside difficult customers without causing them any hardship, and you have an example...