On this episode of Getting Down to Business, we check in with legal eagle Tim Osborn from Osborn Law to learn the ins and outs of working proactively (rather than reactively) with lawyers and how this can better your business practice.
The key takeaways you need to know:
- If something doesn’t feel right and you’re concerned it could turn into something more, get on the front foot and call your legal adviser and have a chat. It’s as simple as a five-minute call for you to hear the answer, “That’s all good, you’re doing everything correctly,” or “No, you’re right to be worried – let’s sort this out”;
- Plan up front and ensure you do have a proactive relationship with your advisory team in order to make it better;
- Have your Terms and Conditions/Shareholders Agreement in place and ensure they mirror reality and how your business operates from day to day; and
- Osborn Law constantly reminds themselves that they are there to provide a service, just like many other businesses. So, build a rapport with your clients because you’ll be able to give a better service to a client you know and understand than to a stranger.