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Michael Smyth Articles

Written by: Michael Smyth

Download a template or see a lawyer? - Click To Read Article
You are about to enter into a business deal but you have been burned before: you know you need a legal agreement to protect your interests but you are faced with a dilemma. Do you trawl the internet for a template and fix it up yourself, or do you see a lawyer and risk a bill for $1000s? This is a dilemma faced by business owners every day and increasing numbers are looking to the internet for help. There is a good reason why.

How to search your employee’s computer and email (legally) - Click To Read Article
You begin to notice that your employee has more meetings outside the office than normal. You don't know who these meetings are with. Are you suspicious? You then notice that the same employee always leaves the office to take calls on his mobile phone. Does this make you more suspicious? And then, whenever you approach this employee's desk, you notice that he switches screen from his web browser to word before you get close. Now are you suspicious? Whilst we would all like to have explicit trust in all our employees, there are some behaviours that just arouse suspicions and the answers to these questions will often lie somewhere in your employee's hard drive.

Boundaries and standards: why you need both in your business and how to set them - Click To Read Article
Why is it that some teenagers are good academically and never get into trouble whereas others are the opposite? Similarly, why is it that some employees go the extra mile and are worth their weight in gold, whereas others turn up late and perform poorly? It’s no coincidence that work performance goes hand in hand with conduct and I’ll explain why.

Why you need to get your legal agreements sorted for 2011 - Click To Read Article
Normally when I go on holiday I think very little of things like travel insurance and the terms and conditions of my airline ticket. But as I sit here contemplating whether to board a plane this evening to snow covered London, these two documents are at the forefront of my mind. We all need to adopt the same approach to documentation in our businesses and below explain why.

What to do when an employee steals your IP - Click To Read Article
Losing a valuable client hurts. Losing that client to a former employee, on the other hand, gives you a sickening feeling in your stomach, particularly when that employee told you they weren’t leaving to work for a competitor. So when you find out that an employee has done precisely that what do you do?

THE TOP 5 HIDDEN DANGERS FOR SOCIAL NETWORKING - Click To Read Article
Whether you or your business is into social networking or not, you cannot afford to ignore new media channels such as Twitter, Facebook, You Tube or LinkedIn because to ignore them could be costing your business a lot of money in lost profit. Here are my top reasons why you need to take careful note.

Why Santa was sued for a personal grievance when he changed the Elf roster - Click To Read Article
Even Santa wasn’t immune from the recession. The global credit crunch had affected his long term investments in reindeer stock and commodities, which meant that the income from those investments had taken a tumble. Santa knew that he could not cut back on Christmas presents for the kids so something had to give. He felt the only option was to cut some hours out of the Elf roster.

Are you using the right terms and conditions for your shopping cart? - Click To Read Article
If you have an e-commerce facility on your website then you will know that your bank requires you to have terms and conditions for its use. But what many business owners do is simply use their standard trading conditions in conjunction with the e-commerce facility. That’s fine but having an e-commerce facility creates its own unique issues which won’t be covered by your normal terms of trade.

How to negotiate a Guarantee Agreement - Click To Read Article
“Never sign a guarantee agreement” is the mantra of most lawyers. However, in most situations that is simply not practical. Banks and larger lending institutions can be pretty reluctant to waive the requirement for a guarantee entirely. For some lenders, however, it may be possible to negotiate individual terms which reduce your liability. If that’s possible, here is a list of some of the things which you should focus on.

How to structure your business to protect your intellectual property - Click To Read Article
It was only after Dean signed one half of the shares over to his General Manager that he realised what he had done. The intention when he sold those shares was to give away half of his Auckland business. However, what Dean had inadvertently done was give away half of his dreams and aspirations for the brand which he had spent five years building up from scratch. A simple step taken before the share sale could have avoided this problem, but Dean was now looking at buying back the shares from someone who didn’t want to sell.

How to get rid of the employee that doesn’t fit - Click To Read Article
He was tall, dark and handsome and a great lover. From the outside, he appeared to be the ideal date and partner. But after 3 months of living together, Jenny realised that her ideal mate was less than ideal. Whilst he could turn on a charming personality, he liked drinking with the boys each night while she preferred walks in the country. She liked a tidy house and he preferred to live in a mess. Like Jenny, have you ever hired someone who appeared to have all their technical skills for the job, but when put in the work environment turned out to be a complete nightmare? Maybe their CV read perfectly but they did not live up to their billing? If so, read on.

Do you have a toxic employee in your workplace? - Click To Read Article
Does your business (or a department within your business) suffer from any of the following symptoms: (a) High absenteeism; (b) High staff turnover rates; (c) Complaints about management? If so, then these symptoms are a sign of low levels of engagement. However, contrary to common belief, the problem may not lie with your disengaged employee. I’ll explain why.

5 Tips To Make Sure You Don’t End Up An Accidental Spammer - Click To Read Article
The Unsolicited Electronic Messages Act 2007has only caught one victim – Lance Atkinson who in December 2008 was fined NZ$110,000 for being part of an “international spam email operation” (NZ Herald 23 December 2008). But does that mean that a NZ business that isn’t part of such an operation can safely ignore it? The answer is no, because people’s tolerance of spam is ever decreasing and with that there is an expectation that legitimate businesses will have email policies in place which comply with the Act. Not to have one exposes you to prosecution but perhaps more importantly could seriously damage your reputation in the marketplace.

Is it legal? - Click To Read Article
When we think about contracts, the tendency is to think of a multipage document with clauses, headings, and two signatures at the end. However, a contract doesn’t necessarily have to take that format and in our digital age it is becoming increasingly more common for contracts to be formed in a variety of ways – all of which are “legal”.

Defamation and the risk with online forums - Click To Read Article
An increasingly popular feature of the internet is the ability for users to interact online. Indeed, many businesses now see online interaction as a valuable tool for engaging with customers and prospects and are therefore incorporating online forums into their websites. However, this strategy is not without risk since by opening up a forum you give your subscribers a platform to say whatever they want, and some of what they say may not be too complimentary about you or others. This never used to be the case.

Could you website end up costing you money? - Click To Read Article
here is certainly money to be made on the internet and every business with a website hopes that their website will increase sales. However, the last thing anyone thinks is that their website could cost them money. It is easy to put a lot of time into web design and functionality, but sometimes the detail can get overlooked. Here is a checklist which you should consider before embarking upon a website build.

How to stop social networking sites killing your restraint of trade clauses - Click To Read Article
Dave knew that he had a problem when he came into the office one morning to see a LinkedIn update saying that one of his former employee’s had taken a senior position with his major competitor. But it wasn’t the fact that Mandy had moved to his competitor that started the alarm bells ringing, but that he had received a notification of the move in his inbox – he knew that 70% of his client base would have received the same email and may flock towards her.

How directors can prevent themselves being liable for their company’s debts - Click To Read Article
The reason most start up business owners decide to form a company is to protect themselves in the event that their business goes belly up. The so called “limited liability” protection offered by the company structure may psychologically persuade us to take more business risks than if we were trading on our own account. However, in times of hardship, limited liability may not be all its cracked up to be and business owners could end up being personally liable for their company’s debts if they fail out to carry their duties as a director properly.

How to protect your IP being stolen by your employees - Click To Read Article
How would you feel if someone broke into your house and stole your TV, stereo, DVD player, furniture, CD collection and some very personal items of jewellery? Initially you would feel shock…then once that had passed, rage and an immense desire to bring the perpetrators to justice... and then regret that you didn’t install a burglar alarm. You get exactly the same feelings when an employee steals your intellectual property and sets up in competition down the road.

How to get your customers or clients to pay up - Click To Read Article
When the 20th of the month ticks around and your bank balance isn’t looking as healthy as it should, you know you have a problem. A quick look at your debtor’s ledger reveals that there is a lot of money out there but it is no good to you unless it is sitting in your bank account earning interest. So what do you do to get it in?

How to get an employee to resign - Click To Read Article
When faced with a poor performing employee, the reaction of a number of employers is to think of an ingenious way to encourage that employee to resign. After all, it saves all the hassle of going through a performance management process, and if they resign then there is no comeback, right? Or maybe that is not the case.

Are your employees spending too much time on Twitter and Facebook? - Click To Read Article
When the internet was introduced to offices over a decade ago, employers were worried that employees would spend more time surfing the internet than they did working. The expression “cyber slacking” was born. In 2009, social networking sites such as Twitter and Facebook have taken the internet to a whole new level. No longer is the internet just used for reading content, now people can interact with their friends in real time whilst sitting at their desks. To further promote interaction, developers have come up with a vast array of applications where users can play games, send virtual gifts or compare themselves to a celebrity. Hey, you can even run your own virtual farm from the comfort of your office cubicle. Therefore, it is not surprising that employers are worried that no work will get done.

Will your business survive the economic recovery? - Click To Read Article
At 30 kilometres Adrian hit the wall. His body just stopped, unable to run any further. He looked down at his feet and he barely had the energy to put one foot in front of the other. As he looked up, he saw runner after runner pass him as he saw his target marathon time slipping away before his eyes. The current economic downturn has been a marathon for each and every business in New Zealand and we are not out of the woods yet. But with the end in sight, will your business suffer like Adrian, or will it sprint towards the finish line?

Is slash and burn the right strategy for your business? - Click To Read Article
When the economic downturn first started to impact John’s business he was quick to act. First signs that turnover was dropping caused John to focus on his biggest overhead – the wage bill. A swift round of redundancies gave immediate relief and he was able to sustain profit levels on an even keel. Six months later, however, turnover had dropped even further and he was facing a personal grievance claim from one of his employee’s with a possible payout of $1000s.

Why you shouldn’t copy someone else’s terms of business - Click To Read Article
Why you shouldn’t copy someone else’s terms of business “Never Re-invent the wheel” was the advice I was given when I started in business. And that’s a great adage which I still use today. But if you are looking for a wheel for your car, you don’t go to the local cycle shop. That’s what some people do when it comes to their terms of business – copy those of another business and then realise (when it is too late) that they are completely unsuitable.

Why every business should have a strategy for growth and how to do it - Click To Read Article
Celia made great cookies, but she wasn’t making great money. Six years of hard work and she’d virtually cornered the cookie market in her home town. Her new range of corporate cookies (cookies for corporate gifts) had enabled her to capitalize on a new market segment and charge a higher price. But, she was working harder than ever and her dreams of taking long holidays in the sun seemed to be a distant fantasy.

Why running your business is no different to running your car - Click To Read Article
Jason had travelled the length and breadth of New Zealand in his VW Beetle, but strange noises under the engine in a desire for more acceleration off the lights, meant it was time to move on. His Beetle was going to be the deposit on his new car … that was until he realised he couldn’t sell it.

Where the Bible teaches us how to improve our cashflow - Click To Read Article
No cash means stunted business growth, worry and sleepless nights wondering to how you are going to pay your bills. So you're lying there at night, eyes wide open, thinking how you are going to face your creditors the next morning. In this situation, many business owners (religious or not) would plead for some kind of divine intervention. Well believe it or not, one strategy for getting your customers to pay on time is actually sitting there in the bible. You just need to know where to look…

Three important checks every business owner should make before choosing their trading name - Click To Read Article
Judith nearly choked on her coffee when she saw the ad in the paper. Judith had never had a problem with competition, but the name and logo of this new business looked remarkably like hers. There were differences of course, but she feared her customers would get confused. Her fears were confirmed when one customer complimented her on "her advertising campaign".

The Secret of Business Success - Click To Read Article
Either you, or someone you know, will have seen or read “The Secret” – an inspirational work that teaches us that the law of attraction really does work and that positive thinking really can bring us success and riches. So presumably, the law of attraction applies to business as it does to every other field of our lives? Is it really as easy as sitting in our armchairs and visualising our business raking in the money, or is there more to it than that? Are we misinterpreting how the law of attraction applies to business?

The best way to reduce your chances of facing a personal grievance when you dismiss an employee - Click To Read Article
You know when your partner is upset when your soup lands in your lap and you are left sitting alone with a nearly full bottle of wine, half eaten plate of food and everyone in the restaurant staring at you. You’ve just experienced that lovely emotion we call anger and it is virtually inevitable that you will experience it if you are breaking up with your partner. It is also virtually inevitable when you dismiss an employee. The question is, will that anger turn into a personal grievance?

How to stop your business partner ripping you off - Click To Read Article
Laura thought she had all the bases covered by having a comprehensive suite of Intellectual Property and Restraint clauses in her employment agreements. What she didn’t expect was that her own business partner would leave the business and set up in direct competition to her utilising the company’s IP.

How to ensure your business becomes an asset not a liability - Click To Read Article
After ten years the plan was to retire: either Trevor could sell his business and generate a retirement fund, or pass the business onto his children with it paying him a yearly consultancy fee to see him through his twilight years. But after ten years neither was possible. Nobody would buy his business and his children perceived it to be a liability.

How to decide when you need a written agreement (and when you don’t) - Click To Read Article
“You have a deal!” said John as he reached over to shake Paul’s hand. Paul was elated. He knew the new business venture could reap rewards for both parties. However, Paul had been burnt before in a similar deal and knew he should have a written agreement with John. But, he wasn’t sure John would go for it – and he didn’t want to lose the deal.

How to get free credit without burning bridges - Click To Read Article
You lay the wad of envelopes out on the table. A quick scan tells you that there will be more bills than cheques. As you open each one in turn you mentally add up what is owed and what you have received. The big payment you are expecting isn’t there and the deficit is bad news for your ailing bank account. A story familiar to many business owners and a problem which the business owner must grapple with immediately.

Cashflow tips: How good is your fuel gauge? - Click To Read Article
When was the last time you were driving your car and you ran out of petrol? If you answered yes, then I suspect that the reason had something to do with a faulty fuel gauge or not knowing how long it was until the next petrol station. So why is it that many businesses seem to suddenly run out of cash, splutter and then fail? Well, cash for your business is the equivalent of petrol for your car, and what does every car come equipped with?

Are your dreams of retiring on the sale proceeds of your business pie in the sky? - Click To Read Article
Whether you went into business with a plan to sell your business in the future or not, at some stage you will need to exit. But have you planned an exit strategy that will fund your retirement? Or, are you just presuming that someone will come along one day and pay you handsomely for all your toil and struggle? If you are in the latter category, think again. Market predictions show that all your hard work building your business could disappear in a puff of smoke. However, it doesn’t have to be that way.





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