A lawyer is able to identify issues before they become intractable problems and cost your startup a whole lot of money down the road. Understandably, it can be hard to convince a cash-strapped small business to assume a certain significant cost now so as to to avoid those inevitable uncertain ones as they navigate further the startup path.
Important decisions now smooth the road later
Leon Pigott of Pigott & Co. in Nelson, B.C. believes lawyers can be most effectively used as business advisors rather than, say, firefighters. He subscribes to the concept that providing advice and consult at the outset can help prevent potential crises and incurring unexpected and unnecessary costs down the road. The work he does through KAST’s Venture Acceleration Program (VAP) and HERE offers him many opportunities to reinforce and encourage this philosophy.
Hold on to your shares! Learn how and when it will be best for your business to distribute
As an MBA from the London Business School and successful entrepreneur himself, he has been able to nurture the vision, working with up and coming entrepreneurs in the Kootenays, helping them navigate the steps to success.
His 15 years as a corporate and commercial lawyer with a focus on banking, securities, energy and corporate and commercial transactions makes him well versed in identifying and avoiding the potential pitfalls as startups begin to consider their various funding and capital structure options – how and when to best distribute shares to the various players in their new venture.
Since moving to Nelson with his family in 2007, through his private practice and his involvement in programs such as VAP and HERE, he has helped numerous businesses and startups prioritize their time and energies, what to do now and what can wait, encouraging big-picture thinking particularly when it comes to funding. Leon is committed to helping new companies in those early stages, busy setting up the financial building blocks, structuring equity funding and drawing up that essential roadmap outlining how an entrepreneur approach raising – and spending! – that first big chunk of change.