Well then. 2021 has been a year, hasn’t it? Just kidding, we’re not even done with January yet, but holy-moly, anyone who thinks the turning of a calendar page was going to be a cure-all after 2020 is sadly mistaken.
Of course, most of us knew this – Covid-19 isn’t going anywhere anytime soon. While vaccines roll out (slowly), we’re facing more lockdowns and post-holiday numbers spikes.
But that’s ok.
“Ok??” you might be saying. Work with me here. Over this past year we have all learned a new way of life. We have adapted (yay to human beings and our resilience!) to a new way of working (on a broad scale), and running our businesses (at a macro level).
Big shout out to ALL OF US. We did it. But (and there’s always a “but”) we’re not out of the woods yet. All of us need to buckle our seat belts, and take steps NOW to ensure that all of the blood, sweat, and tears you invested into keeping your small-business – your baby – alive and kicking these past 12 months doesn’t end up being all for naught.
Protecting your legacy should be the number one thing on your to-do list this January. I’ve been writing a lot lately about Levelling Up and hitting that (sadly) often elusive for women-led companies 7-Figures Club!
And ladies, one of the best ways to protect your company is to have solid legal counsel in place.
Why Entrepreneurs Need a Good Growth Lawyer Behind Them
Many of the most successful companies out there have something you probably don’t – an in-house legal team. But let’s be real – that’s a huge cost and probably not something in the budget for many small to medium sized businesses.
That said, you would be remiss to not have some kind of legal representation behind you – and I’m talking more than Google search and posting questions in Facebook groups. It’s time to harness the law to grow your revenue, without putting in more time or risking your intellectual property.
If you’re straddling the line between the six and seven figures club, you need more than strategy, you need execution. You need a proactive legal team working on your business every single month to nip problems in the bud, seize opportunities and implement legal strategies that protect and scale your business.
Aside from the nitty-gritty of running a company – incorporation, hiring employees, NDAs, patents, TOS for websites, etc., there are three key things that an experienced lawyer/legal team can assist you with:
- Staying on the right side of the law – ensuring you’re not inadvertently violating laws, around taxes for example, and that your business is functioning in such a way as to avoid any and all tax liability.
- Staying out of trouble with other people – you need to be protected from possible damages/liabilities incurred by dealing with contractors, customers, suppliers, even the public in general (even more important if you’re a bricks and mortar business).
- Staying in harmony with your business partners (if applicable) – having the proper contracts in place will help ward off lawsuits down the road, and help to ensure that eventual exit-strategies go off without a hitch.
This piece is part one of an exciting “two part’er.” And I can’t wait to share the next one with you. I’ll talk about how finding the right lawyer is a little like dating – but without the “dinner and a movie” part! And I’ll share news about my retainer program, Secure Your Way to 7 Figures, that just might be what you need to help you level up to the 7 Figures Club! Watch this space!
And as always, If you want to chat, you book a call with me here.