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What Are You Doing to Prepare for a Powerful 2016?

One of the most effective actions I’ve taken each year since completing the FastTrac Growth Venture program in 2011 is to review one chapter from the workbook each month, from January through October. There is always something new I can see or something I can tweak ever so slightly to improve my results. I borrowed that idea from a classmate who was a friend and who is now a client. You are welcome to borrow it, too!

Here are some other actions I encourage you to take to grow your business and to insulate it from liability through every stage of growth:

  • Take at least an annual inventory of your risks of harm to people or their property from your business operations. As your risk increases, you are wise to set up a separate entity to hold the majority of the risk or to purchase various insurance policies to fund the costs of litigation, including your legal fees.
  • Conduct an audit of your workers and ensure they are properly classified as employees or independent contractors. The Internal Revenue Service (“IRS”), New York State (“NYS”) Department of Labor (“DOL”), and NYS Workers Compensation Board (“WCB”) have slightly different criteria for distinguishing workers, and you must diligently reconcile them to avoid penalties that could bankrupt your business.
  • Submit your success story and upload your headshot to the Kauffman Foundation for use on its website (like I did). Do this between now and 12/31/15, and you will receive a $25 Visa gift card in January.

As always, the information in this newsletter is for general information and to empower you to minimize your legal expenses. Most courts and bar associations consider newsletters attorney advertising, so this is basically an ad for my services.When you can’t resolve conflicts on your own, have questions, or want some help, I’m here for you. Simply arrange a consultation through my assistant, Tyler.

Let’s make 2016 your best year yet!

Nance

Nance L. Schick, Esq. is an attorney, mediator, and conflict resolution coach based in New York City. She is the founder of The Law Studio of Nance L. Schick, where she and her team of employees, vendors, and strategic partners deconstruct conflict and re-create it as opportunity, using a holistic, integrative approach. Nance resolves conflict and cultivates leaders, using her EEOC training, as well as her proprietary Third Ear Conflict Resolution process, which is described in more detail in her first book, DIY Conflict Resolution: Seven Choices and Five Actions of a Master. She is also an award-winning entrepreneur, who has been acknowledged by the New York Economic Development Corporation/B-Labs (Best for NYC 2015 finalist), U.S. Chamber of Commerce (2015 Blue Ribbon Small Business), Enterprising Women Magazine (Honorable Mention, 2014 Woman of the Year awards), and Urban Rebound NY/Count Me In (2013 Pitch Competition finalist).