Guest Blog by Rayetta Michael, Help in the Home We love to see others grow in every area of their lives, and we can’t wait to see you succeed too. Lessons are best learned when shared, so we are going to reveal our top 15 tips that got us to where we are today. It’s time to realize your value! 1. Servant leadership is the only way. Our organizational chart places our clients at the top, staff below clients, leadership below staff and co-founders at the bottom. We don’t see how we could do what we do with excellence any other way. 2. Hire people who are smarter than you. We are constantly patting ourselves on the back for hiring highly-skilled individuals. We learn something everyday from the amazing people who work at Help in the Home. 3. Foster collaboration instead of competition. The metro DC area can be a breeding ground for competition. We have found that we thrive better on collaboration both internally and externally. 4. Hire people with heart. Working with individuals and families struggling with complex mental illness is really hard work. You have to love it to be good at it. 5. Running a business is a marathon, not a sprint. Pacing yourself and remaining flexible in how you approach each new season of business is a lesson that takes time to learn but is key to avoiding burn out ! 6. Have a growth mindset. In order to maintain standards of excellence, you have to be willing to change and learn. That never stops and we instill this mindset with every person that joins our team. 7. Start with gratitude. We start our days focused on gratitude. We’ve found it’s the best way to stay grounded throughout the entire day and especially important on the hard days. 8. Self-care is essential. You can’t fill anyone else’s cup unless you’ve filled your own first. Take good care of yourself and it will reflect in how you show up for your clients and staff. 9. Vulnerability is strength. It is common in our society for vulnerability to be viewed as weakness. However, we’ve found that incredible strength and growth comes from exposing and sharing our vulnerabilities with others. 10. Trust, but verify. It’s important to hire people that you trust, while maintaining a system of checks and balances that holds everyone accountable. This helps with ensuring the standard of excellence we strive for. 11. Don’t manage, lead. When you hire the right people, they don’t need you to micro-manage their time. Lead by giving people the tools and support they need to be successful. 12. Diversity, equality and inclusion improves everything. Full stop. 13. Presence is a best practice. Be present. Truly showing up for yourself, with your clients and staff is where the magic happens. It takes practice! 14. Strive for excellence, not perfection. Perfection is unattainable. Know that there are opportunities lying within mistakes. Embrace the struggle and see it as a gift. 15. Infuse joy. This is at the very core of Help in the Home’s mission. Take every opportunity you can to celebrate victories, no matter how small they may seem. Even in the most difficult times. We wouldn’t be where we are today if we had worried about every little thing that was thrown our way. This is your reminder to not sweat the small stuff! You will find joy when you surround yourself with growth-minded people who are willing to have your back while stretching you to be your best. We hope you have gleaned some of the wisdom we have acquired throughout this journey to make your own path a little smoother. About Help in the Home: Help in the Home strives to be known for their passionate approach and guiding motivation to add value to the communities we’re in. They believe in the importance of creating an inclusive community that provides housing and therapeutic support for people with severe mental illness– one where warmth, care, and support are present – is priceless. Co-founders Stacy or Rayetta would love to connect with you - e-mail [email protected] to learn more about their business model and how you can work together.
0 Comments
Guest Blog by Lloyd Malech Divorce, whether amicable or bitter, is no easy transition for anyone. It involves significant changes and upheaval to routines, expectations, and living arrangements. Business owners' source of income is more than a paycheck – it is an important asset with many moving parts that the divorce process may directly impact. When a business owner contemplates divorce, the process can become particularly complex. Here are five critical considerations to bear in mind:
1. Preserve Key Documents A business owner is responsible for preserving key documents in the ordinary course of business. However, it is particularly urgent to maintain clear, thorough, and up-to-date records of all business operations, financials, contracts, and ownership documents in the context of a potential divorce. These documents may play a crucial role in determining business value and ownership rights during divorce proceedings. Some key documents to include are:
2. Prove Separate Property If the business was started before the marriage or inherited, it may be classified as separate property, which means the other spouse is not interested in the business. Clear documentation is crucial to prove that the business began as separate property and was not commingled with marital assets, such as shared bank accounts or using marital funds to grow the business. Creating and maintaining a paper trail to demonstrate that the business has always been kept separate from the marital property will prevent successful claims by the other spouse. 3. Notify Business Partners Divorce can significantly impact business operations, especially if the spouse has a stake in the business or if the divorce could lead to asset division that affects the company’s liquidity. It is not just good practice, but essential to notify business partners (if any) and discuss how the business will be handled. This open communication is crucial to ensure continuity and protect the company’s stability. Many business entities place a fiduciary duty on co-owners to disclose events that might cause major impact on the business operations. 4. Valuing the Business for Marital Estate If a business is not separate property, the other spouse has a right to include the value of the business in the marital estate for purposes of fair division. An accurate and fair business valuation can be conducted by business valuation experts who can assess the business’s worth, considering factors like revenue, assets, liabilities, and market conditions. The valuation is often a point of contention in divorce, and this process can help determine if the business will be sold, divided, or retained by one spouse. 5. Planning for Post-Divorce Business Structure The divorce trial or settlement may impact the business structure. If the business is shared, partners may need to renegotiate roles, buy out the other spouse, or prepare for changes in ownership and control. Planning ahead for this transition ensures the business can continue functioning smoothly. Depending on a business's type, size, and structure, when an owner contemplates divorce, it can have significant consequences. Confer with an attorney with experience in family law and an understanding of property interests to ensure that the business is as protected as possible to maintain value and minimize disruption. With over 25 years of experience, we are committed to providing excellent service to our clients. Our accolades include the 2024 Family Law American Association of Attorney Advocates recognition, being a finalist in the 2024 Best of Bethesda Readers’ Pick for Best Family Law Practitioner, and winning the same award in 2022. We’ve also been honored with the Lawyers of Distinction Award for Excellence in Divorce and Family Law for the past five consecutive years. At Malech Law, we approach every case with respect, empathy, and a dedication to excellence. Contact us today for professional legal assistance. Visit Malechlaw.com or call (202) 441-2107. |
Welcome!Our Chamber Blog is designed to provide you information about The Chamber, our members, advocacy and legislative updates, and important business tools. Archives
December 2024
Categories
All
|