When To Hire A Hired Gun

Matthew Lesko: You are going out having meetings with bankers and accountants and lawyers and picking the power business cards and the power furniture and the power there is whatever. When I did that, I found out in on a year two or three I was out of business and who won the lawyers, the accountants, and people whom I bought the furniture from and all that's kind of stuff.

Eliot Wagonheim: A lot of people take a look at their lawyers and say, you know, this guy is just giving me advice based upon some Ivory Tower, not how it really works in my business.

Matthew Lesko: I think the experts you get, the more complicated you get.

Edward Hiller: You need an accountant, you need an insurance agent, you need an attorney.

Edward Jacobson: Those are the three principle advisors you are going to need to start a business and they should be working in contract, they should be working together. They may overlap sometimes, but you still need to rely on them.

Matthew Lesko: It's silly, because when you have a million then you can worry about that. Why, the hell, worry about it now? But everyone, oh, I got to have the right tax structure. Most business have gone out of business on three year. That's right.

Eliot Wagonheim: The best business lawyers are those that actually do make the effort, not just to understand the legal problems of their client, but actually understand their clients.

Edward Hiller: And that's really the key when you to start a business. You want to be able to plan properly and you want to be able to protect yourself and your assets.

Matthew Lesko: Why, the hell, worry about it now?

Eliot Wagonheim: If for example, you are buying a franchise. You want to buy one of the subshops or you want to buy a quick change oil shop. Having a lawyer is a very good idea because you are going to be presented with a very thick packet of paper that tells you what do you have to do, what you need to do, what happens if you don't do it, all of your rights and obligations.

Matthew Lesko: Why, the hell, worry about it now?

Edward Jacobson: You are going to have to release, you want to a lawyer to be able to review that, because sometimes the leases are very one-sided and are quite harsh.

Eliot Wagonheim: In that case it would be very helpful, necessary to have a lawyer.

Matthew Lesko: Why, the hell, worry about it now?

Edward Hiller: If you have a lot of bills and can't pay them in your business, but you haven't protected yourself properly then those creditors maybe able to go after your personal assets that you worked hard to attain.

Matthew Lesko: Why, the hell, worry about it now?

Richard Booth: You can protect yourself from personal liability for the debts might be generated if the business ends up failing.

Matthew Lesko: Most businesses have gone out of business in three years.