The first criteria in solving the unsolvable problem is realizing there is no such thing as any problem that does not have a resolution. There are only solutions that are not acceptable to certain individuals, but in reality there is no unsolvable problem. In defining goals and making decisions, it is first important to review the details of the situation. A complete understanding of the situation, the businesses involved and the potential problems that exist provide thorough knowledge which helps create and identify potential resolutions. Once potential resolutions are comprised, a roadmap can be created on how those resolutions can come about. With this roadmap there are a variety of methods to solve what is thought of as an unsolvable problem, but consideration must be reviewed as to the time that is necessary, the costs involved and the likelihood of success. Having solutions to unsolvable problems is multi-faceted because it requires a willingness and ability to be flexible in the actual solution.
The most important step in solving what appears to be the unsolvable problem is using the necessary professionals that are knowledgeable about the situation and about the proper resolution. We use medical doctors to help us to diagnose our health care, we use CPAs to help us with tax issues, we use engineers to build bridges and lawyers should be involved with the legal problems. The lawyer must be one of the most trusted confidantes and the lawyer should have a thorough working trust relationship with the client. These long term relationships are necessary because the lawyer needs to understand the client’s business and understand the client’s potential goals. In order to create resolutions, the lawyer needs to have a thorough understanding of the following:
- What is important to the client;
- What are any barriers to success;
- What is the growth goal for the business;
- What is the goal for an exit strategy or ultimate transfer or sale of the business;
- Why is this important to the client;
- What has stopped the client from reaching these goals;
- What are obstacles that are in the client’s way;
- What actually keeps the client up at night;
- What is the client willing to do to obtain their goals; and
- What resources is the client willing to put in to obtain its goal.
For more information on our commitment to our clients-read here. For more on decision making-read here. For more on using your trusted confidante-read here.
Stephen Fuller is the managing partner of Fuller Sloan LLC and has practiced in business litigation and consulting for 37 years and has over 25 years representation of the founder of one of the largest sit-down casual restaurants in America. For more information, send Mr. Fuller an email.