Episode 197: Legalities Protect Your Bank Account

other legal solo show Oct 21, 2021

On today's episode of the podcast I talk about how legalities can help protect your bank account.

 

I always talk about these things in a vacuum, for example how an LLC helps protect your personal assets, I chat about how insurance can help defend you in the case of a lawsuit, and I've noticed these are the topics people are not always as interested in as tax topics, I think because our fear of the IRS often seems to outweigh our fear of legal repercussions. I'd love to hear your thoughts on this in my Facebook group.

 

Beyond contract templates and starting an LLC, why should you care? The reason is because it all comes down to our finances. Assume you have a client problem that ends up in court, aside from being anxiety producing, we could have a judgement against us. A lot of our legal protections are to give us financial security. This is where our legal layers of protection come in, including liability layers and intellectual property layers.


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Episode 191: Why You Need To Run Your Biz Like You Plan to Sell It

interview other legal Sep 09, 2021

On today's episode I chat with Amber Anderson, Owner of Refine for Wedding Planners, about business acquisition and trademarks. 

 

We should all run our business with a long-term perspective of "do I want to run this thing until I'm ready to retire?" or "do I potentially want to sell my business one day?" Even if you think you don't want to sell, it's good for business to run it in a systemized way that it could one day be sold. 

 

Amber Anderson sold her wedding planning company, Heavenly Day,  in January of 2020. She said it was easier to sell the company since it was not tied to her name directly, though the name was not trademarked. When she was ready to sell, it all came down to timing and who was ready to buy at the same time Amber was ready to sell.  As for pricing, Amber calculated based on 3-4x annual revenue. Depending on your timing and if you had a broker and how much time you have will also play a factor in the money you will get...

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Episode 188: My Credit Journey

other legal solo show Aug 19, 2021

On this episode of the podcast I share how I increased my credit score by 100 points in 6-8 months.

 

I think it's important that we as business owners get more comfortable sharing more about our personal finances. Everything from profit to saving for taxes to how much we pay ourselves and how this all relates to our personal finances like our credit scores, our savings, our emergency fund, our retirement savings, our loan repayments, our credit cards, etc. They're very taboo topics so I've found the best way to discuss them is to start sharing.

 

To give you my background with credit, my journey started my freshman year of college when someone offered me a credit card. I signed up thinking there were no consequences. Luckily I only used it to buy my books, so about $1,000. But I didn't have $1,000 to pay it back so my credit score immediately tanked and stayed there for about five years. When I got to law school I had a car loan my mom was co-signed on and I think I made...

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Episode 173: The Doors Close on Unf*ck Your Biz Tomorrow

other legal solo show May 06, 2021

You're invited to join Unf*ck Your Biz! The cart closes on Friday. Check out Tuesday's episode to hear from our previous students and learn more about what you'll get when you join the program.

Want a closer look at the content you'll get from the program? Click here.


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Episode 169: Managing the Mailbox Panic

other legal solo show Apr 22, 2021

On this episode of the podcast I talk abut what types of mail may be headed your way in regard to business documents and what you can expect to find when opening your mailbox.

 

This episode is brought to you by my new FREE Masterclass, "The Most Common Legal and Tax Mistake at Each Stage of Business and How to Avoid Them." This Masterclass will cover if it's time to go from a sole proprietorship to an LLC or an LLC to a S-Corp and how to properly run an S-Corp. You'll learn how to get more profitable in a snap and put your taxes on auto-pilot as well as how to manage the growth of your business without fear of IRS hate mail or lawsuits. Click here to sign up for the Masterclass.

 

Do you have an increase in panic every time you open the mailbox? Fear of getting bills on top of debt or IRS hate mail that you fear will be in there, leading to procrastinating in opening the mail?


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Episode 165: Getting Stuck with Overcomplication

other legal solo show Apr 15, 2021

This episode is brought to you by my new FREE Masterclass, "The Most Common Legal and Tax Mistake at Each Stage of Business and How to Avoid Them." This Masterclass will cover if it's time to go from a sole proprietorship to an LLC or an LLC to a S-Corp and how to properly run an S-Corp. You'll learn how to get more profitable in a snap and put your taxes on auto-pilot as well as how to manage the growth of your business without fear of IRS hate mail or lawsuits. Click here to sign up for the Masterclass.

 

"Your systems are only as good as your ability to manage them." This is the mantra I often tell myself. Sometimes we start off very well-intentioned, and then we get overwhelmed with choices and burned out because we've created too much for ourselves.

 

We do this with the legal and tax aspects too. We get really well-intentioned, maybe it's with setting up Quick Books and getting our bookkeeping in order with sub accounts and then we realize we've created an...

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Episode 161: You're Not "Too Beginner"

other legal solo show Apr 08, 2021

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On this episode of the podcast I talk about what makes someone a beginner and who is "too beginner" for my Unf*ck Your Biz course.

 

This episode is brought to you by my new FREE Masterclass, "The Most Common Legal and Tax Mistake at Each Stage of Business and How to Avoid Them." This Masterclass will cover if it's time to go from a sole proprietorship to an LLC or an LLC to a S-Corp and how to properly run an S-Corp. You'll learn how to get more profitable in a snap and put your taxes on auto-pilot as well as how to manage the growth of your business without fear of IRS hate mail or lawsuits. Click here to sign up for the Masterclass.

 

While I was looking through the responses business owners shared with me as to why they did not join the Unf*ck Your Biz course I noticed that 25% of the responses all said the same thing. "I'm too beginner."

 

Whether you buy the course or not, this is pep talk to you that your business is not "too beginner." If you view yourself...

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Episode 153: My Beef with Tax Pros & Lawyers

other legal solo show Mar 25, 2021

On this episode of the podcast I share why going out and hiring someone is not your best first step and what to look for if you do hire someone.

 

This episode is brought to you by my FREE Tax Challenge. Taxes suck but we all have to file them. I'll walk you through the 5 steps you need to get your tax documents organized and ready to file. Sign up for this free challenge.

 

We get different answers from different people because everyone looks at something from a different lens - an accountant and a lawyer will give you two different answers to the same question, even though tax and law are so related.

 

Taxes are a function of law - tax attorneys should know the tax law. I often see bad advice from accountants and attorneys (more on that in my podcast episode "Three of the Worst Pieces of Legal Advice I Have Seen in Facebook Groups"). For example, accountants love to throw out arbitrary numbers for how much income you should have before filing for an LLC.

 

...

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Episode 133: How to close sales without a phone call

other legal solo show Jan 19, 2021

On this episode, I chat with Maria Bayer, sales coach, strategist, and wealth builder, about how to close sales when you hate talking on the phone and feel like selling in the DMs is unnatural.

 

This episode is sponsored by my FREE training: 3 legal & tax mistakes made by new and experienced creative entrepreneurs & how you can avoid them. Sign up for this free Masterclass here, and get ready to unf*ck your biz.

 

Today's question comes from Melissa McClure, a wedding and boudoir photographer and educator who asks, "Do you have any tips on closing sales when you hate talking on the phone and when you feel like selling in the DMs is unnatural?"

 

Most importantly you have to get comfortable with talking to your clients. If you can't communicate with them you won't be able to evoke emotion with them and sell them what they truly need. You can't do that in the DMs, especially if you are selling a high-end service. Part of why people are uncomfortable is...

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