Dallas/Fort Worth area attorney, Cleve Clinton, of Gray Reed & McGraw, PC sat down with The Business Spotlight TV host Patrick Dougher to tell how he enjoys working with successful entrepreneurs – or as he says, a business “maverick.”
Business mavericks are people who have succeeded in building their business from the ground up – from “chief cook and bottle washer,” to a very successful operation – one with accountants, several managers and employees. According to Clinton, these mavericks are the ones who get into the most trouble because they “work harder, faster and more dangerously in business.”
“My Ideal client is an entrepreneur who has built their business into something larger than themselves.” – Cleve Clinton As he/she grows and learns how to delegate work they become more open to litigation, and that’s where an attorney like Clinton comes in.
Clinton cited one client in the electronics manufacturing business as an example. The company is considered a small business, and although successful, is dependent on a positive cash flow, and line of credit, in order to move onward and upward.
Often in this maverick’s business they find it not uncommon for their customers to come in and promise a large order, in exchange for a reduced rate. Either intentionally or unintentionally, some of these customers fail to follow through on their order as promised – either taking a smaller amount, or canceling the order altogether. When this happens, Clinton’s client is left holding inventory that he can’t dispose of, and can’t return. This puts a strain on their cash flow, and on their line of credit – which in turn prevents them from purchasing for other clients.
Clinton persuaded his client to enter into a “Manufacturing Services Agreement” between the client and their customer. This agreement included a purchase order and invoice, and was a way to avoid litigation if at all possible.
Clinton’s approach is to fix the problem before it leaves the door. By setting up a binding agreement both sides are covered, and protected, should anything go wrong. He says his goal is to sell them a little piece of mind when things are falling down around them. Once you identify the goal in mind, you can work toward reaching those goals.
If you are a business maverick, or hope to be one, and would like to get in touch with Cleve Clinton, you can email him at cclinton@lrmlaw.com; visit the company website – http://lrmlaw.com, where you can access all the attorneys on staff; or visit the website http://www.tiltingthescales.com – one Clinton describes as providing “business insight with a little humor.”
To view the entire interview of Cleve Clinton, log on to Cleve Clinton Likes To Work With Mavericks from Patrick Dougher on Vimeo.
