Build the Moat First: Scherrie L. Prince on Protecting What Entrepreneurs Create

Most entrepreneurs spend their time thinking about how to build a business.

How do I find customers?

How do I increase revenue?

How do I grow faster?

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But far fewer stop to ask a different set of questions.

What happens if my partner and I have a falling-out?

What happens if the business is sued?

What happens if I become seriously ill or die?

And what happens to everything I’ve worked so hard to build if I never created a plan to protect it?

Those aren’t particularly exciting questions. They don’t generate the same enthusiasm as launching a product, closing a major sale, or reaching a new revenue milestone.

But ignoring them can turn years of entrepreneurial success into years of financial and emotional pain.