Episode 55: Dispelling Legal Myths for the Entrepreneur

People make excuses about legal. A lot. Whether it is too expensive or doesn’t matter yet or you plan to get to it later, the reasons you have for avoiding legal are just excuses.

The problem is, many people believe what they are saying. What is worse – many business consultants and coaches help perpetuate these myths by spreading the myths.

Legal is such an important part of getting a business started. It is just as important as figuring out your budget or understanding your sales cycle. Legal is the way you protect your business as you get started and the way that you stay in business when things get tough.

In this episode, we need to dispel some legal myths for the entrepreneur.

In this 30 minute episode we will cover:

Myth #1: “I’ll just get started with my business and then talk to a lawyer when I am ready to get serious.”
Myth #2: “I am just a small business and legal is expensive and won’t really affect my business”
Myth #3: “My cousin is a lawyer, I’ll just ask him when I need something”
Myth #4: “I could save time and money by just using a template from one of those sites online.”
Myth #5: “I have more important things to do, I don’t have time to think about legal.”

Show Notes and Referenced Content:

Highlighted Topics:

Listen to Legal to English with Josh Andrews Below:

Legal to English Dictionary: Limited Liability

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Legal to English Dictionary: Hereto

On the weekends, it only seems appropriate to feature some of the more interesting of the legal words. I can assure you there are many. These are words that are no longer in use in the English language (or, in some cases, never were), or words that are only used in contracts. Most of these words are […]

Elements of a Contract

Contracts are self-contained explanations of a relationship between two parties. Contracts are the agreements you should have in place with every person or entity you work with in your business. Contracts are how we define business. Even if we don’t realize it. You have a contract with every person or entity with which you do […]

Legal to English Dictionary: Buy-Sell Agreement

Legal An equity transfer agreement that commits the equity holder to sell, and the entity or other owners to buy, the equity interest at a fixed price when specified events occur. English This agreement is one of the primary ways closely held businesses control who owns equity in the entity. Often incorporated into the Operating Agreement for a Limited […]

Building a Compliance Program

I trust you survived the shutdown of the United States Federal Government okay? It has been an interesting week for me as I deal with a number of federal departments for my clients. I found many of the tasks I planned to do this week had to wait. How about you? Did the shutdown hinder […]

In this 30 minute episode we will cover:

Show Notes and Referenced Content:

Highlighted Topics:

Listen to Legal to English with Josh Andrews Below:

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