Thankfully, most of us will never find out. That is a GOOD thing! However, if YOU are a small business owner it's something worth knowing before one day you get kicked in the back-side.

I've advocated for many years - ALWAYS invest in GOOD legal counsel; a qualified Accountant [CPA]; and Insurance Agent. The 3 most important advisors to your business success.

A little research in our town opened my eyes BIG and WIDE to how a small business owner can suddenly find himself/herself in deep water without a paddle or pot to go.

Just a few of my recent discoveries --

Did you know.... town Sheriff can reach inside your bank account and take ALL your money? Got a friend in town working for the Sherriff's Dept? Ask him/her, they'll tell you how it happens and you may want to ask about their bonus, too.

It doesn't make any difference WHO YOU OWE or if checks will start bouncing - it's part of our LEGAL justice system - allows the "hand-of-the-law" to take your stuff and leave you screwed.

Another disturbing happening - you can be sued or counter-sued by someone and never know it until you get a "writ of execution" from the Sheriff's department... when they come to sell ALL your property - equipment - and maybe leave you bankrupt as well as good vendors you own money to.

In our town you basically have to hire an Attorney to represent you in court.... simply a "no option" decision unless you know it's fruitless when you're guilty hands-down... probably your town too.

What you may not know - your legal counsel is NOT required to have malpractice insurance protection when he/she screws up the process on your behalf. Most have it.... the problem with small business owners is they look for the CHEAPEST not the BEST.

Courts DO NOT send notices by Registered mail either which means they have NO proof of delivery, but WHO cares? YOU will. Only your legal counsel supposedly gets the notices from the Courts and it's his/her responsibility to advise you or it's tough break for you when no one told you "courts in session" - and YOU'RE absent.

Have you ever heard of "treble" damages? It's amazing how this can kick you into oblivion without a trace. Just know that it does happen to the finest of small business owners.

Did you feel it? The smasher coming when you thought everything was peachy-le-creme - maybe your best year ever? If YOU don't have your 3 Key Advisors yet, hire them soon. It may just SAVE your CASH as well as your business future.