It may seem like only yesterday when you started your business. Or maybe you took over for your father or mother and carried the tradition of hard work and success through another generation. At this point, however, you know it is time to sell the business and move on to something new.
As a business owner, you may be fortunate to have years of carefree interactions with your employees. This may be the result of a diligent hiring process, seeking employees from a trustworthy pool or just luck. If an issue arises, you may be able to deal with it privately or have your HR representative handle it with minimal disruption.
Like many California business owners, you have faced your share of tough times. You may have had years of great success between years of struggle, but lately, the struggles seem to be coming more often. Undoubtedly, you thought about it long and hard before concluding that bankruptcy may be the best course of action, both for your business and for your personal interests.
Are you a company owner in California? Have you ever found yourself in the position where you needed to pursue business litigation against a customer, supplier or partner? It is certainly a tough spot to be in, but sometimes it is necessary in order for you to achieve compensation for any losses you have experienced.
If you are honest with yourself, you will admit that things have been bad for some time. Other employees may complain about a particular co-worker, or that worker's production has never been what it should be. The executive may have used excuses or blame to justify his or her poor performance, which caused you to offer one more second chance, but now it's time to face it. The executive must go.
The job market is tight, and if, like many in California, you have been searching for a job which will pay well and provide some security, you may be growing weary. After tweaking your resume and cover letter for countless employers with no luck, you may have started to feel desperate when, finally, a job offer came that sounded too good to be true.
You finally got your business up and running, and everything seems to be going as smoothly as possible. Perhaps you are even turning a profit. As you adjust through the growing pains and ease into a routine, you may be relieved to have your success confirm what you always knew – that you were meant to run your own company.
Times are hard, but then times are always hard for someone. Your business may be going along fine, but one of your customers or clients may be struggling. The first signs of this struggle are typically late payments for goods or services your company provided. While you certainly understand what it's like to have financial difficulties, the fact is that your business depends on the timely payments of your customers.
Owning a business in California or elsewhere can be very rewarding, but it can also be extremely stressful. When faced with a problem, knowing how to handle it is not always that easy or straightforward. For example, you make a certain agreement with a supplier and draw up a contract. Things go really well for a while, but then the supplier stops holding up its end of the deal.
One of the most frustrating things you may deal with in your business is waiting for clients or customers to pay their bills. If you have a tight budget, overdue payments may create some tense moments as you figure out how to meet your own obligations. You likely have a system in place for requesting payment, including sending out invoices, followed by reminders and, finally, warnings.