6-Year Lawsuit and $1 Million in Fees: What I Learned After My Exit

6-Year Lawsuit and $1 Million in Fees: What I Learned After My Exit

 
 
00:00 / 00:59:55
 
1X
 

Michael Dash is the CEO and President of Parallel HR Solutions. He is a life-long entrepreneur and the ultimate example of just how messy a business partnership break-up can be. We talk about the early days of Parallel HR and how a six-month commitment turned into eleven years. Michael also tells me about how he got tangled up in a six-year lawsuit and nearly lost his sanity in the process.

After discussing his fall, he shares how he found peace of mind again and changed his life for the better. Today’s episode is a cautionary tale about how to keep your ego in check and when to know to cut your losses.

What you will learn:

  • Michael’s business background.
  • How Michael got into the staffing service business.
  • The early years of Parallel HR and the move to Utah.
  • How Michael and his partner structured the business.
  • Why he decided to buy his partner out of the company.
  • How the buy-out led to a lawsuit and a counter lawsuit.
  • The danger of emotional decision making.
  • The 2 people not to ask advice from during a lawsuit.
  • How flow consciousness helped Michael make positive changes in his life.
  • The importance of small changes.
  • The power of positivity.
  • How the six-year lawsuit was settled.
  • Michael’s future plans moving forward.
  • The 5 principles of activation.
  • Michael’s final thoughts.

Takeaways:

  1. Make sure your business structure is set in stone. Have the hard conversations and discuss how a big business change will be handled before tempers flare and lawyers are called. Avoid ambiguity and lay it all out in the beginning.
  2. Keep your ego out of business decisions. Logic is the key to running a business, know why you are in the business and keep the why in mind so you don’t get sidetracked by personal feelings.

Links and Resources:

GEXP Collaborative
Ignite Journeys
Michael’s Thrive Global Articles
FATE: From Addict to Entrepreneur
Michael Dash on Instagram
Michael Dash on LinkedIn
Michael Dash on Facebook
Michael Dash’s website

About Michael:

Michael grew up in a small town in New Jersey where he developed his passion for entrepreneurship while working with his father. Michael learned the value of hard work and the importance of a strong worth ethic during this time.

He went on to study at the University of Maryland. He began his career in sports advertising and soon began working with a childhood friend in the staffing business. In 2007, he followed a  business opportunity to Utah. This was the birth of a thriving technology talent acquisition firm called Parallel HR Solutions where he is the CEO and President.

Michael is also an active community member and philanthropist. He supports and is a member of the Leukemia Lymphoma Society’s Team-in-Training fundraising group. He is also a part of several national organizations such as Young Entrepreneur Council (YEC) and The Founders Organization. He has plans to finish his book Chasing the High early next year.

Business Valuation

BizEquity

BizEquity is the world’s only patented and the largest provider of business valuations, having valued 33,367,784 private businesses globally and has officially partnered with The Wall Street Journal. To learn more about the software and valuation algorithm check out this whitepaper.

The Value Builder System™

The Value Builder System™ is a statistically proven methodology designed to improve the value of a privately held business. At the core of the system is The Value Builder Score™, an evaluation system driven by an algorithm that evaluates a business on the eight core value drivers acquirers take into consideration when buying companies. The Value Builder Score™ gives a comprehensive assessment of the “Sellability” of your business, whether you want to sell next year or just to know that you’re building a valuable asset for the future.

After analyzing more than 30,000+ businesses, analysts at The Value Builder System™ have discovered that companies with a Value Builder Score of 80+ received offers that are 71% higher than the average-scoring business.

The Value Builder System™ is available exclusively through an experienced and authorized group of advisors, known as Certified Value Builders™, located across the globe.

Submit a Comment

Your email address will not be published. Required fields are marked *