Set Your Business Up Right for 2023
The Legal Document Refresh
I’m going to give you a big, shiny button. If you click on the button, you can get yourself a free checklist of all the stuff you need in terms of your legals and risk mitigation strategy.
Are you ready?
Keep Your Documents Fresh
I talk a lot about legal documents being an important part of your risk mitigation strategy (along with your business structure and insurance).
The thing is, when it comes to these things, they’re not set and forget. Each year, you’ll need to check everything to make sure it’s still serving you.
Check your business structure is still what it needs to be.
Check your insurance has the coverage you need for the things you need.
Check your legal documents to ensure they’re up to date and current.
What’s changed?
When the way you operate changes, the stuff you have in place to protect you may not be adequate anymore.
So think about what’s changed since you had your legals done, or in the last year:
Have your prices changed?
Have your offerings changed?
Have your packages changed?
Has your team changed?
Has the way you do things changed?
If so, these things need to be added into your legal documents to make sure they’re still working for you, and to make sure you’re operating in a way that’s aligned with what your documents say.
How long has it been since you reviewed your business’ legals?
If the answer is “12 months or more”, then it’s due now.
Most business owners like to do it at the start of the new year (that’s now!) or at the start of a new financial year.
Either way, pick a date that works for you, and keep it consistent.
Here’s that button again for the free checklist:
There’s so much to think about when you’re setting up (and running) a business, and it can get a little overwhelming, I know. But I made something for that: The Service-based Business Owner’s Guide To Business Legals and The Guide to Business Legals for e-commerce Businesses are my first two masterclasses, designed to arm you with everything you need to know about getting your business legals set up right.
And of course, if you’d like someone to share a bit of the admin with, you can always book a 1:1 chat with me, your friendly digital small business lawyer.
Finally, if you’re feeling nerdy and want some further reading, check out Legal Advice for Small Business | Ultimate Guide, another free resource that’ll help you get (and keep!) your ducks in a row.
