Do you find contracts, insurance and the legal side of your small business a bit daunting? Well, this episode is JUST for you. My special guest, Rachel Brenke takes the fear out of legally protecting yourself and your business, breaking it all down in simple, practical terms.
Rachel’s genius is in helping creative entrepreneurs with understanding their legal needs and shares her wisdom on The Simplifiers Podcast.
Contents
Because as Rachel says, “ignorance of the law is not a defense of the action.”
Here’s how to (simply) protect yourself and your small business…
In this episode, you will learn:
- Common legal mistakes entrepreneurs make such as using others intellectual property and causing “copyright infringement”
- Why “re-gramming” someone else’s photo (on Instagram) that they found on Google is illegal and the NUMBER 1 thing Rachel has been dealing with in her law business
- Mary shares a horrifying tale of a woman in Egypt who stole The Simplifiers logo and name from a Google search and starting her own company… and how she stopped it
- Why you need to have a line item in your budget for legal stuff (hint: it’s a non-negotiable!)
- What is the “Legal Trifecta” that ALL businesses should have in place to protect your business? Think of these three things as hurdles between you and your clients so that, if a problem arises, they have to go over them before they can get to you personally:
- 1. Business Formation – forming a separate legal entity so if you are implicated and liable, you personally, your family or your home assets will not be in jeopardy.
- Sole Proprietorship (NOT recommended)
- LLC (the majority of businesses)
- Corporation
- 2. Liability Insurance (homeowners will not protect you!)
- 3. Legal documents (website terms and conditions and privacy policy are both non-negotiable in Rachel’s opinion)
- 1. Business Formation – forming a separate legal entity so if you are implicated and liable, you personally, your family or your home assets will not be in jeopardy.
- Tips for drafting your website’s Privacy Policy and contracts for services (terms and language to include when it comes to attorney’s fees)
- How legal documents are your “front line,” enabling clients to see you as being professional and building confidence in you and your business
- Why it’s best to acquire BOTH a lawyer AND a CPA
- The latest tips on GDPR regulations in Europe and how you can and cannot use the emails that you capture.
Pro tips of the day:
- Call your insurer once a year!
- Invest upfront in legal help before you find yourself in a much more expensive predicament.
My challenge for you this week:
Get your legal documents in order for your business, whether that’s a privacy policy or terms & conditions page on your website or having your contract templates reviewed by your small business lawyer. Snap a photo of you doing the thing and tag @thesimplifiers on Instagram for added accountability and support!
Links, people and books mentioned:
- Book: The Brave Athlete: Calm the F*ck Down and Rise to the Occasion by Simon Marshall Phd – https://amzn.to/2qSTj70 (tools for athletes YOU can use under high stress pressures within your business.)
- Rachel’s Podcast the “Business Bites Podcast” – www.businessbitespodcast.com
- Rachel’s Free Simple Legal checklist – www.rachelbrenke.com/freechecklist
- Rachel’s Book: The Laundry List: a mom’s guide to running a successful business & home – https://amzn.to/2KoWqMj
Favorite quotes from this episode:
“Follow what’s in your Privacy Policy” – Rachel
“You never have an issue until you have an issue” – Rachel
“We, as women, seem to be more focused on the fun things in our business, like our branding, our logo and our websites and forget the other, way more important side. The legal stuff.” – Mary
“It’s relatively easy to attract people to your website BUT, building the buyer’s confidence and getting them to pull the trigger or press the button or pay the money… that’s what these documents can do for your business.” – Rachel
About Rachel Brenke
Rachel Brenke is the founder of the Business Bites podcast, and several successful legal niche brands including: TheLawTog®, FitLegally, and BlogLegally. She is also a mother of five, wife to an Army Veteran, practicing lawyer, author, photographer, cancer survivor, and Team USA Athlete.
Through her podcast, brands, and 1-on-1 services, Rachel helps creative entrepreneurs with business strategy and legal needs such as forming businesses, draft contracts, and business and intellectual property law. As an entrepreneur in each of these industries, Rachel has a pulse on the pain points and needs of these fellow entrepreneurs.
In addition, she is also the author of The Laundry List: a mom’s guide to running a successful business & home.
Rachel’s vote for the perfect guest on The Simplifiers Podcast:
Christine Tremoulet – The Life Boss Podcast
Where Rachel hangs out online:
Website: https://rachelbrenke.com
Facebook: https://www.facebook.com/RachelBrenke2/
Instagram: @rachelbrenke
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