Is Florida the corruption leader? It depends
CEO Sounding Board
What advice do you wish you had gotten when you started your business?
Doyle Conflict Resolution
“As a young attorney fresh out of Stetson law school, I immediately went into practice with two of my friends in Naples. We were legally well prepared, but looking back I wish we had sought out a mentor to help us practice more efficiently. We didn’t have a shortage of business, but we could have grown in a smarter way with less time away from our families.”
“I wish I had gotten advice on how to keep my company properly capitalized. When I was starting the business, I read lots of books and wrote out the business plan — all the stuff that is the traditional way that they tell you how to start and operate a business — but there was no way of really knowing how much capitalization you need.”
“Whatever amount of cash you believe is enough to start your own firm, double it — and know that it still may not be enough. As the saying goes, ‘cash is king,’ and that’s true. If banks turn you down for financing, pursue other options like mezzanine lending or VC funding. At the same time, understand that sales is the lifeblood of a business and the only way to have any chance of moving your company to the next level. Also, getting a good handle on the financials is key.”
Palm Beach County
Find a Florida county with strong ethics laws and an inspector general post, and you’ll probably find they were created in response to a scandal. From 2007-10, four members of the Palm Beach County Board of Commissioners went down for separate transgressions, earning a “New Capital of Florida Corruption” headline from Time magazine. Two West Palm Beach city commissioners went down in 2006 and 2007. The disgrace prompted creation of an ethics commission, an inspector general post and new regulations and laws.
Former Palm Beach County Commissioner Tony Masilotti pleaded guilty to corruption charges in 2007.