Utilizing A Business Strategist in Challenging Times: Find a Qualified Outsourced General Counsel
To say that the last couple of years have been a whirlwind of change is an understatement. Between the pandemic, record-high inflation, supply chain issues, and labor shortages, many business leaders are feeling overwhelmed and uncertain about the future. Simultaneously, many employees are leaving their jobs in search of better pay, more flexibility, and work-from-home opportunities. The mass exodus of workers has been dubbed “The Great Resignation.” Many business owners and managers have been left struggling to find enough staff to keep their doors open, let alone strategize for long-term business success.
With the current challenges plaguing small and medium businesses and more hurdles on the horizon, it is important for business owners to remember that they do not have to figure everything out on their own.
Understanding the Personal and Professional Impact of Recent Challenges
You do not have to be a small business owner to see the massive impact inflation, rising costs, supply scarcities, and labor shortages have on our lives. However, small businesses are often hit especially hard by these types of challenges. One recent survey found that over 60 percent of small businesses still had profits below pre-pandemic levels. Most cited hiring issues and supply chain issues as their main operational challenges.
Another study found that small business owners are also struggling with mental well-being and maintaining a healthy work-life balance. With all the hardships being faced by small and medium business owners, it comes as no surprise that 42 percent of small business owners surveyed reported burnout. About a third admitted that work stress prevented them from getting enough sleep at night.
Working With a Business OCG to Overcome Obstacles and Prevent Future Legal Problems
If you own a small or medium-sized business, your company may not be large enough to justify full-time, in-house legal counsel. Fortunately, there is another option: An outsourced general counsel can evaluate your business and help you find the best way to conquer obstacles and move forward. OCGs learn about your business’s unique needs and objectives and provide personalized legal guidance. A skilled OCG becomes part of your team, offering trustworthy legal guidance when you need it the most.
Most importantly, an experienced OCG can prevent legal problems before they arise. When you utilize a skilled OCG, you can focus on core business concerns and growing your company instead of rushing around putting out fires.
Ideally, business owners should work with an OCG who is highly skilled and experienced in business matters. Keep in mind, business strategy is not taught in law school. So, it is important to select an OCG with a wide breadth of business experience.
Contact Our Naperville Business Outsourced General Counsel
At the Gierach Law Firm, we understand just how impactful recent world events have been on small and medium-sized businesses. We offer cost-effective, personalized outsourced general counsel services to small and midsized companies in a range of industries. Because we establish a close relationship with business owners and managers, our accomplished Naperville business law attorneys provide a superior degree of understanding and insight into our clients’ businesses. This allows us to deliver reliable, informed legal guidance regarding employment issues, contacts, compliance, mergers and acquisitions, tax planning, and much more.
Call the Gierach Law Firm at 630-756-1160 to learn more.
Please note: These blogs have been created over a period of time and laws and information can change. For the most current information on a topic you are interested in please seek proper legal counsel.