[MBV Playbook] Ch. 23 — Hire or Rent a General Counsel (#183)

In this week's episode of the Maximize Business Value Podcast, we unravel the critical topic of legal counsel with Chapter 23 - "Hire or Rent a General Counsel." Join us as Tom sheds light on why having the right attorney is a game-changer for your business.Attorneys, like doctors, specialize, and not all lawyers are cut from the same cloth. Tom emphasizes the need for a business attorney as your General Counsel (GC) — someone well-versed in business law, capable of navigating the legal complexities unique to your industry.For large businesses, having an attorney on staff may be feasible, but for most, it's not financially viable. Tom suggests a brilliant alternative: "renting" a set number of hours each month. He shares his personal experience with a ten-hour monthly retainer, ensuring steady legal oversight without breaking the bank. The hours are use-it-or-lose-it, encouraging thorough legal reviews without hesitation.In this episode, Tom provides insightful questions to ask when hiring a fractional general counsel, emphasizing the value they bring to your business. He highlights real scenarios where legal advice proved invaluable, showcasing the impact a trusted attorney can have on your business's success. MAXIMIZE BUSINESS VALUE BOOK: https://amzn.to/2AvazXTMAXIMIZE BUSINESS VALUE PLAYBOOK: https://amzn.to/3Vv2KWqSchedule a time with Tom: http://calendly.com/tombronsonOur latest eBook: https://www.masterypartners.com/ebooksMastery PartnersElevating Businesses to Achieve The Business Owner’s Dream Exit The unfortunate reality is that for every business that comes on the market (for whatever reason), only 17% of them achieve a successful exit. You read that right. 83% of attempted business transitions never reach the closing table. Mastery Partners is on a mission to change that. We ELEVATE businesses to achieve maximum value and reach that dream exit.Our objectives are simple - understand where the business is today, identify opportunities for dramatic improvement, and offer solutions to enhance the business, making it more marketable and valuable. And that all starts with understanding the business owner’s definition of his or her dream exit.  Mastery has developed a 4-Step Process to help business owners achieve their dreams.STEP 1: Transition Readiness Assessment STEP 2: Roadmap for Value Acceleration STEP 3: Relentless Execution STEP 4: Decision: Now that desired results are achieved, the business is ready for the next step in the journey!CONNECT WITH MASTERY PARTNERS TO LEARN MORELinkedInWebsite© 2025 Mastery Partners, LLC.