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Quarantine Reflections

Although I haven't been forced to work from home, my commitments outside of the office have all but disappeared. It's given my family more time at home together, and for me, some time to think and reflect on where I've been and where I'd like to go.

My first realization has been that I shouldn't be concerned about minimizing the impact this COVID-19 crisis is going to have on my family and business. Rather, I should be seizing this time as an opportunity to create new and invaluable opportunities. I should be asking how can I generate growth while the world "appears" to be at a standstill.

The United States has been economically successful and enduring because we are a creative people, where entrepreneurship is encouraged and not stifled. Perhaps you've been laid off, but you've always wanted to start your own business and just didn't have the time to create your business plan, file the necessary legal documents, and to take the risk. What's stopping you now? I'm not suggesting that you throw all caution to the wind. Start with putting the remote down and turning off Netflix. Pull out our pen and paper and begin sketching out your business idea and planning your future. Those who survive these next several months of economic shrinkage will not be those who binged their favorite TV series and took this time as an extended vacation. Rather, it will be the innovators - those with a good idea and the willingness to get started. Just take the first step.

When I started Schmitz Law in 2016, I had only about 2 months to put everything in place so that I could open the doors on July 5, 2016 - which I did while also managing a full caseload at my former firm. I drafted my business plan, assembled the budget of costs and projected revenues, found an office space, created my marketing, so on and so forth. I took my dream and made it a reality.

One of the key components to making your dream into a reality is planning. What you'll quickly find is that you don't have all the answers. Neither did I. Browse the inter-highways. Talk to others in the field. Consult with a business lawyer or an accountant. So often it's the unknowns that prevent people from advancing in their journey. A lawyer can help you identify what kind of a business entity you need, file the appropriate paperwork with the Secretary of State, and ensure you're following the necessary corporate formalities. A business lawyer can review vendor contracts and leases and even draft your own "service contract." I cannot tell you how many times I've been approached by someone who was delivering services on credit and didn't have a serviceable contract.

If you have that great idea, but you're uncertain about the legal steps you should take before you get started, then call Schmitz Law, PC today at 336-893-0332. We are offering phone or video conference consultations with flexible scheduling. In the words of Buzz Lightyear, "To infinity and beyond!"

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301 N. Main Street
Suite 1070
Winston-Salem, NC 27101

Phone: 336-893-0332
Fax: 336-714-2381
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