We act today in order to reap future benefits.

We recently built a house in the country.  It is beautiful and peaceful, but there is one drawback; there are no trees.  The lack of trees, buildings and other effective windbreaks – along with the fact that we live in Kansas – means that the wind howls, almost constantly. The solution is to plant a wind break – a line of trees such as the red cedar which have dense, bushy branches which will grow outward as the tree grows upward.  Over time the branches will merge together forming a barricade against the wind. The problem is that trees grow rather slowly and transplanting fully grown trees is expensive while planting them young provides a tree line which is ineffective at blocking the wind in the early years.  It is this observation that prompted a friend, upon viewing our nascent tree line,  to quip: “We plant the windbreak for the next generation!”

While I certainly hope that it will not take a generation for our windbreak to become effective, there is some truth in my friend’s cynical comment.  In business, as in life, we often take actions, not for the immediate benefits we reap today, but for the benefits, value or security they will provide in the future.  This often makes it difficult to see the direct value of the planning, work and investment in which we engage today.  Nevertheless, we work, we plan, we invest, and we take action trusting that, in time, we will reap the rewards.  We perform regular maintenance on our equipment, not because it will cause the machine to run better today,  but because we know it will increase the life spam and total value of that equipment. We buy insurance, not because there is an immediate reward, but to provide protection and security against a potential  future hazard; and, we pour resources into capital investments believing that doing so will make our business more effective, efficient and profitable in the future. 

The “deferred gratification” approach to life and business has helped businesses find success for generations,  and yet, when it comes to considering the legal and regulatory environment in which our business operates, many will only pay attention when something breaks, something goes wrong, or there is an immediate need for a service which will facilitate some current business requirement.  The price that is paid for buying legal services with an immediate gratification mindset is high.  It is often high in a literal dollar amount when we are forced to pay an unpredictable bill based upon an exorbitant hourly-rate (often resulting in some serious cash flow problems).  However, the high cost is sometimes less obvious.  As with ignoring regular equipment maintenance, there are hidden costs to addressing the legal needs of your business on an “as needed” basis.  Under this practice the lawyer who does the work is not steeped in your company culture nor intimately familiar with your long-term business goals.   The cost of consuming legal services which satisfy an immediate need, but may not be consistent with your values mission and culture are often intangible but, in the long term, can lead to disaster.  Perhaps more importantly, that legal issue which led to a budget busting, large legal bill may have been avoidable with some consistent, pro-active legal advice and counsel in the preceding weeks, months and years.

Just as constant minuscule course corrections will keep a pilot on track and a minor deviance from course will, if uncorrected, lead him far from his destination, so the consistent assistance of a trusted legal adviser and counselor will keep your business on track and allow you to focus on your goals and profitability.

If you are in business you should have a trusted legal adviser who becomes familiar with all facets of your business and can provide constant course corrections throughout the journey.  Doing so will help avert liability and ensure that all legal aspects of your business are handled in a manner which is consistent with your long-term strategic goals.

Just as the work and expense necessary to plant the windbreak will protect our home from the relentless howling wind in the future, so availing yourself of on-going, consistent and integrated legal advice as you grow your business will protect your company in the years to come.  If you doubt this, simply ask yourself why so many of the most successful businesses invest in entire in-house legal departments.

At Maughan Law Group LC we strive to facilitate your version of the American Dream and to help you maintain the focus you need to thrive.  By working with business clients on a flat fee basis, and as out-sourced general counsel to qualifying clients, our firm strives to become that trusted legal adviser who can provide legal advice and guidance which is integrated with our clients’ strategic business objectives in order to help them thrive.