Many lawyers at “big law” have no clue about actually running a business on a day to day level. They are “professionals” and certain dirty work is beneath them. They can send 5 or 6 lawyers to cover a hearing, and edit a brief to perfection, but they sometimes don’t really “get it” when you are telling them about budgeting, collections, operations, the daily grind of too much to do, and the list goes on and on. The vast majority of lawyers lack business training and have never run their own business. You are the expert in your business. You are the expert in understanding the day to day issues that are unique to your industry. One big reason I’m still passionate about what I do is the ongoing education I receive as we work within any industry. The successful meshing of Chapter 11 reorganization with your unique business and industry-wide issues is fun for me. The subtle strategy decisions that we make, always together, to aim for the best results. Our appreciation of the challenges of running a business make us different: we get it. Perfection is a myth.
Laura Day DelCotto is the founding member of DelCotto Law Group. Her practice of law focuses on helping business owners rehabilitate or sell their companies. Outside of Chapter 11 bankruptcies Laura Day also dedicates her time to educating Kentucky municipalities on ways to avoid Chapter 9 insolvency.