Podcasts Business Ray Edwards Show Let's Keep It Legal

Let's Keep It Legal

Published: May 27, 2019, 10 a.m.

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There are so many legal requirements for starting an online business\\u2013is it even worth the effort? That\\u2019s what one of my students asked me last week. So I decided to get an attorney to answer. But not just any attorney\\u2013you\\u2019re gonna love this guy!

To help you turn these ideas into action, click here to download this week\\u2019s free \\u201ckey ideas\\u201d Worksheet.

Today you\\u2019re going to learn\\u2026

  • Why businesses need to get their agreements in writing.
  • Why businesses need to have a strategy for their \\u201clegal stuff.\\u201d
  • The mistakes businesses make that can sink their brands.
  • The legal mistakes business make with social media.

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Ray\\u2019s Tip of the Week:

(2:25) This week I want to tell you about a new tool I\\u2019ve been using to create my own sparkling water instead of buying TONS of sparkling bottled water.

Tune in to find out my favorite new \\u201cdrink maker\\u201d tool.

Spiritual Foundations:

(3:55) Do you pray for your business? Is that a selfish practice? I can\\u2019t find any evidence of this in the Bible. But God does talk about worry.\\xa0

Tune in to discover\\u2026

  • What the Apostle Peter had to say about worry.\\xa0He made it clear what God will do with all our worries\\u2013if we let Him.
  • The magic that often happens when we choose to pray despite our worries. Even though God already knows how we feel, He doesn\\u2019t want us to be shy and He often rewards us with this blessing while we\\u2019re in the act of praying.
  • How to build your faith and in God and how to apply His power in your business. You can get started with a simple daily task that works well in tandem with your daily prayers.

Feature Presentation:

Bobby Klinck is not your typical lawyer. Sure, he went to Harvard Law School. But he\\u2019s not a stuffy curmudgeon. He\\u2019s a fully-fledged online entrepreneur who understands our kinds of businesses. Better still, he tells funny stories, makes fun of lawyers, tells \\u201cdad jokes,\\u201d uses pop-culture references, and even sneaks in the occasional poop emoji.

It\\u2019s not that he doesn\\u2019t think the \\u201clegal stuff\\u201d if serious. He just figures that having fun with it all makes it less daunting for entrepreneurs. And he\\u2019s right!

Tune in to discover\\u2026

  • (8:35)\\xa0Why Bobby is \\u201ctrying to give up\\u201d his regular law practice like a bad habit.\\xa0How he got his law practice started almost by mistake and why he\\u2019s now moving 100% into the online space.
  • (10:40)\\xa0How Bobby learned to network without networking. The surprising answer he gave to his life-coach that really pushed him to become a full online entrepreneur.
  • (13:25)\\xa0How failing in his first online course launch got him hooked on online marketing. Now he\\u2019s an addict, even though he lost thousands in wasted Facebook ads on that launch and the only customer who bought refunded on day 29 of the 30-day refund period.
  • (18:30)\\xa0Why taking a little time at the start of your business to get the \\u201clegal stuff\\u201d set up correctly can save you massive headaches down the road. Even though lawyers are often a pain to work with, they do play an important role in helping you stay out of trouble.
  • (19:35)\\xa0Why relying on a faceless attorney service like Legal Zoom is a big mistake. But only relying on your friendly neighborhood attorney isn\\u2019t enough either. You\\u2019ve gotta find a specialist who knows how your style of business really works.
  • (22:40)\\xa0Should you be a sole proprietorship, an LLC, an S-corp, a C-corp?\\xa0Why getting this right from the start saves you all kinds of time and money.
  • (24:30)\\xa0Which type of business you should have if you have hired help, like a virtual assistant or a social media manager. If you don\\u2019t have this type of business set up, you\\u2019re not fully protected.
  • (29:40)\\xa0Why so many people think getting into online business is as simple as turning your computer into an ATM. There\\u2019s a whole lot more to it, and getting your business entity set up correctly is a better investment than buying all those online courses.
  • (31:05)\\xa0How many rookie entrepreneurs put the cart before the horse. Why trying to harvest the grain before planting the seeds doesn\\u2019t work.
  • (33:15)\\xa0The 3 policies every online entrepreneur should have on their website to protect themselves. It\\u2019s the boring lawyer stuff, but without it, you\\u2019re putting yourself at risk. (See this week\\u2019s worksheet).
  • (39:50)\\xa0The 3 practices every online entrepreneur should get in the habit of doing, no matter what.\\xa0Lawyers thrive on uncertainty and these practices keep you covered.
  • (48:00)\\xa0How Bobby has moved from \\u201cno-name\\u201d lawyer to super-successful online entrepreneur.\\xa0In just the past year his income has more than doubled and there\\u2019s no end in sight to his growth.

Resources:

Links mentioned on today\\u2019s show:

I\\u2019d love to hear from you. Tell me your biggest takeaway from today\\u2019s show on Twitter @rayedwards, on Instagram @rayedwards, and on Facebook too.

Today\\u2019s show was produced by Kris Edwards with show notes and worksheets by Doug Pew and Juan Lopez.

Until we meet again may you prosper in all things: health. wealth, and wisdom. Now go live your most prosperous life.

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