Written by: Lori Nadglowski
Making financial mistakes in your company could cost you in a big way, it could cripple or tank your business. If your mistakes are serious enough, you can be facing a lawsuit, which could jeopardize your company’s cash flow and income. But if you have the right tools in hand, you can make well-informed decisions that could keep your company thriving.
Here are some of the financial mistakes made by entrepreneurs:
Hiring the Wrong Attorney
An attorney is essential when drafting the agreement that outlines how important decisions will be handled in the business. And when choosing an attorney, make sure they understand your industry, the structure and how the company is valued. The more comprehensive the agreement the less likely there will be disputes in the future.