Uncertainty and unrest have defined 2020. From COVID-19 and record-breaking unemployment to ideological, political, and societal conflicts, business owners have faced significant challenges to their survival and success. Regardless of their current political views or health and financial statuses, business leaders agree that they must navigate this time with care. The decisions that business owners make during difficult periods could …
The post-COVID-19 world will likely see a major shift toward companies maintaining remote workforces. Due to government-mandated business closures and stay-home orders, many owners and employees of small businesses have been forced to work virtually, and they have seen the benefits. Studies show that remote working increases productivity.[1] Large technology companies like Facebook and Twitter have announced that they will …
Livestock show families have been hard at work in the barn while the world sheltered in place during the height of the pandemic. Now these families are chomping at the bit to get back on the show circuit. And, as a livestock show coordinator, you are probably anxious to host your next big show, but you are worried about liability …
The landmark COVID-19 stimulus package, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, has been a significant tool for assisting struggling small businesses during the current international pandemic. However, the centerpiece of this legislation, the Paycheck Protection Plan (PPP), has been a source of confusion and frustration for many business owners seeking this aid. In an attempt to alleviate …
You may have heard the term “force majeure” being discussed a lot with regard to parties fulfilling their contractual obligations in light of Coronavirus. Businesses and individuals, alike, are wondering whether force majeure contract clauses will actually hold-up in the face of the Coronavirus pandemic. Many businesses rely on their force majeure clauses regarding “acts of God,” when they have …
I’m very proud to be a part of a nimble profession who is able to adjust during these unprecedented times. I have been conducting meditations online via Zoom and GoToMeeting for family law disputes (including child issues and divorce matters). I took it up a notch in the month of May and completed a 20 hour training via Mediate.com. Rincker …
I was speaking a few nights a go to a crew of cattlemen about how to start the conversation with family members on estate and succession planning. I recommended that if the conversation is particularly challenging to start to consider hiring a mediator (or even a virtual mediator) who understands agriculture to move the conversation along; however, what has worked …
Today’s topic is for fellow entrepreneurs on how to get your corporate formality “ducks in a row” — or what I call becoming too legit to quit! While in quarantine, with extra time available, it’s a great opportunity to assess and improve areas of your operations. Get started by first conducting a corporate formalities check-up: Operating agreement: Do you have …
I was recently asked the following questions from a high school student. Here are my responses: What do you wish you would have known prior to pursuing college and a career in this field? One of my biggest regrets educationally is not pursuing a foreign language. I had an opportunity to stay an extra year at Texas A & M University …
On May 4, 2020, the Internal Revenue Service (IRS) published questions and answers regarding retirement provisions in Section 2202 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. In addition to providing aid for individuals and businesses, the CARES Act increases accessibility to funds and loans from certain retirement plans and accounts. The information the IRS recently published clarifies …