Small business owners don’t have it easy – management and ownership of a business is an overwhelming task. There is little time and resources left for life-work balance. Especially in the startup stage, many small business owners ignore the basics to move forward fast.
Small business legal training, however, is one of the things a small business owner should put on their to do list from day one. Many think that legal training is for lawyers and never get to it. But can you trust a lawyer 100%? Sure you can’t be as savvy as a legal professional, but at least you should know what they are talking about when they discuss torts with you!
6 little known facts about small business legal training
that might just make you browse the Internet for a course:
1. Legal training is not expensive
How much do you think a basic small business law course will cost you? $1,000? $2,000? If you think that legal always needs to be expensive, you are wrong.
Everyone is telling you that it is expensive. But it is not. A small business owner can get legally savvy for as low as a couple of hundred dollars if they find the right place to start.
Why this matters? Because as an entrepreneur, you follow where every penny goes. You might just save yourself a bunch of money on lawyer fees because you learn a few ticks yourself. Legal training does not make your lawyer unnecessary, but might make you more secure to take everyday decisions.
2. Legal training is not complicated
Many people in business consider legal issues to be complicated. And, yes, there are occasions where you need to talk to your lawyer 100% of the time. But, that’s not always the case.
After going basic legal training you will find out that many things are far less scary than you thought.
Why this matters? Because you don’t want to let fear of the unknown limit you. Owners need to understand what’s going on in every aspect of their business and needn’t be afraid to tap into the unknown. It’s not as difficult as you think.
3. Legal training can save your business hundreds of dollars
Mostly, from legal fees. Small business legal training gives the owner the knowledge to identify which contracts might have grounds for claims before they are taken to court.
Why this matters? Because a lawsuit can cost you not only a lot of money, but your business as a whole. For example, training in employment law (that constantly changes) provides entrepreneurs with the knowledge to assure that best practices are followed and their business is protected.
4. Small business owners can evaluate the health of their businesses
After an initial legal training you will be able to immediately identify areas of your business that are not completely legally healthy.
Why this matters? Because your competition can’t. You won’t need to wait for an annual consultation with your lawyer to find out that something is wrong. Identifying issues before they have turned into problems, can save you many sleepless nights and, of course, big amounts of money.
5. Small business legal training takes less time than you think
How much time would you invest in small business legal training? 3 to 4 hours? That’s fine because that’s all you need!
A small business owner doesn’t need to read legal books and files with rules and regulations. Modern legal training is organized in such a way that you will get to know exactly what you need in an interactive multimedia environment.
6. Legal training can make you money
Once you understand the power of the law, you might find out that you could be making more money than you actually are. For example, a brief debt recovery course can give you 100 ideas for collecting money from your clients faster and more effectively. Or, you can finally realize the value of your trademarks and licenses.
Why this matters? Every opportunity that a small business has to make more money should be exploited. In times when budget is tight, basic legal knowledge can become a powerful tool for success.
Surprised? Well, you wouldn’t be the only one – small business legal training is not popular among entrepreneurs because they have false assumptions about it. Legal training is not only necessary; it comprises an empowering skill set that can help a business get ahead of competition.
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