So much time and resources are lost when companies go to war in the court room. How much stress and frustration is generated by a complex legal system designed to bill thousands upon thousands and waste valuable production energy out of your company. Think of how much could have been created, how many customers could have been gained, how many innovations could have been made with all those bloated legal fees during that time of litigation.
I am not saying that there is no need for proper representation. I am saying that that proper representation needs to be somewhat contained during times of conflict. The idea of “tapping out” of a litigation or settling may not be appealing to the over achievers out there, but for most of us who value time and resources, we know that money can be replaced but time cannot.
How do we as small business people avoid the legal money pit?
1) Understand the value of your time and the limits of your resources.
2) Imagine what else could be accomplished with the funds you were intending to use for the oncoming conflict. Would those innovation or investments ultimately produce more cash than winning the litigation war?
3) Know your company beliefs and values. Does an ongoing battle line up with your ultimate mission? Or will is side track your mission and delay the accomplishment of your business goals?
4) How will this affect your home life? Does this conflict carry over to your sacred family life? What is more important to you?
5) What do your closest colleagues say? Have you considered objective feedback before engaging in a costly legal battle?
It is an obvious fact that it is better to find a settlement early through negotiation even without the legal beagles getting into the fray. As a coach, can I can humbly offer one simple piece of advice. Get your ego in check. It is of no use to take your company and team into a fight that will cost way more than it is ultimately worth.