Sure, it's a cliche. But if you're in business, you must be clear on what's best for your bottom line. It is, however, also it's essential to know your rights and to make considered decisions. Contracts and agreements are a part of every business, so it's vital to make sure that you understand them before signing on the dotted line. How often people don't...

In this week's Podcast, Chris Baskerville shares how he has seen firsthand how many Directors go into agreements and contracts without understanding what they're agreeing to. He offers sound advice on why investing time is important to ensure you understand any document, lease, or contract before signing it. And also, despite the pain upfront, also investing money in good advice.

He also warns of the pitfalls of investing in new business opportunities with friends and family members or accepting a "once in a lifetime" offer for buying into a company. While these opportunities may seem appealing on the surface, it's essential to take a step back and consider all of the risks and rewards before diving in.